Innholdsfortegnelse for November/December 2024 i The European Business Review

As the year draws to a close, we at The European Business Review reflect on the dynamic landscape of the business world and the individuals who shape it. This November-December 2024 issue is dedicated to you – our readers. At The European Business Review, we're more than just a platform; we're your partner in success. We understand the ambitions and challenges of leading corporations, managing high-performing teams, pioneering research, and growing thriving startups. Our readers are the driving force of innovation and change, and we're committed to providing the insights and strategies you need to achieve your goals. In this issue, we're excited to shine a spotlight on our readers themselves. We recognize that each reader is on a unique journey, driven by personal aspirations and a desire to make…

ARTIFICIAL INTELLIGENCE IDEA EXPLORER Today's rapid emergence of AI for research and development (R&D) has opened up a myriad of use cases across different industries. We stand to gain the benefits of AI in general, and with the right level of project planning, we can deliver high business performance improvement. These are exciting times for AI. These are also times of contradiction: every story covering unprecedented successes is matched by other articles of concern over threats of unintended consequences. We want to develop AI to improve our lives. But we also want to protect ourselves from the bad things. So, how can we build better tools to live better lives and use our tools to prevent life's catastrophes? In the modern world, the very best time to do that is in…

BUSINESS STRATEGIC MANAGER For nearly half a century, globalization as embedded in trade, finance, technology, communication, culture and human capital, has produced monumental changes in business and society. Even though the pace of globalization has slowed, and the rise of populism has put a damper on market liberalization, there is no proof that deglobalization is or will be a permanent feature of global commerce. While the growth of international trade and finance as well as the arguments for and against greater global integration have been well-documented, researchers and policy analysts have failed to examine the tax dimensions and implications of cross-border commerce—specifically tax evasion. This is most unfortunate since the financial impact of both can be significant for countries, industries, and the public at large. The global cost of tax evasion…

HUMAN RESOURCES STRATEGIC MANAGER Vocational guidance, a bit of a neglected backwater in psychology, has been described as finding the ideal fit between the person (job seeker) and the job (occupation). The idea is to make an assessment of an individual's abilities, personality, and motivation (values) and, on the basis of that profile, suggest a number of different jobs / occupations that may suit. The desired outcome is about optimal fit. There are some simple models. So, you may ask people two straightforward questions about the types of jobs they like. Do you like most to work with people (individuals / teams) or things (technology / machines)? Are you most interested in ideas (theories / concepts) or data (numbers / facts / figures)? This creates four simple quadrants: the “things-data” group…

ESG CORPORATE VISIONARY The demand for ethical behaviour and genuine transparency in corporate reporting is rising, calling for concrete actions from corporate leaders. Our study finds that integrating sustainable control systems (SCSs) within management control systems enhances corporate disclosure honesty and integrity (Arian, 2024). This is done by promoting the culture of ethics across every organisational level, reducing the potential for earnings manipulation, and building a valuable intangible asset: trust. Public demand for integrity in corporate financial and non-financial disclosure has increased significantly since the pandemic. Companies have faced criticism for using non-financial disclosure to capture public legitimacy, painting a rosier picture of their operations than reality warrants. WHAT ARE SUSTAINABLE CONTROL SYSTEMS? Sustainable control systems are internal processes designed to embed sustainability into the fabric of an organisation (Johnstone, 2019;…

Q Good day, Ms. Dimare and Mr. Sørensen! We're grateful that you could make time to speak with us despite your busy schedules. To start, can you share a little about what initially drew you both to the field of leadership development and what inspired the creation of Fire & Shield™? A Elize Dimare: I've always been drawn to leadership from a young age. My first leadership role was when I was just 14 years old as a co-leader in my local rowing club, organizing trips and coordinating activities. Even as a big sister, I naturally found myself creating games and leading the way for my younger sibling and her friends. Johnny Sørensen: I naturally grew into leadership. From a young age, I was very focused and driven. I started…

ARTIFICIAL INTELLIGENCE CORPORATE VISIONARY EDITOR'S PICK Should the deployment and facilitation of AI be left to tech experts? How does leadership affect AI? Here are insights from the Beyond Boundaries conference by the D'Amore-McKim School of Business on how business leadership shapes AI adoption and success. AI is bringing massive changes to society, businesses, and academia. For business schools, it is important to know how organizations, leaders, and educators can address this rapidly changing environment. At D'Amore-McKim School of Business (DMSB; Northeastern University), we take this question seriously and have made it key to our school's mission to educate socially responsible business leaders capable of working, navigating and creating in an AI-enabled environment. To emphasize the importance of our mission to what we do in our research, teaching and corporate outreach, DMSB…

REMOTE WORK STRATEGIC MANAGER START WITH YOUR TEAM'S NEEDS Good leadership hinges on understanding and addressing fundamental human needs1. These include the need for attention and approval (or “getting along”), status and achievement (or “getting ahead”), and predictability (or “finding meaning”). When these needs are met, we are engaged and productive. Failure to satisfy them can lead to high levels of stress and anxiety among team members. Consider the example of Gennaro Arma2, the captain of the Diamond Princess cruise ship, which was famously quarantined after 700 passengers were exposed to COVID-19. That's an extreme example of a remote team; he could not have physical contact with those in his charge. Captain Arma's leadership was a masterclass in meeting these human needs. He maintained morale by using humor and encouragement, giving…

LEADERSHIP STRATEGIC MANAGER 1. INTRODUCTION While discussing the prominence of emotions in politics, it might seem trivial to touch upon this topic, since it is now generally accepted that emotions enter into all spheres of human activity, even intermingling with the higher cognitive processes, which greatly influence our thinking abilities and decision-making processes. In the present geopolitical landscape marked by brinkmanship and populist rhetoric, the significance of this scholarly approach is evident. It is essential to examine the concept of “celebrity politics”, the portrayal of politicians as distinct “personae”, and the communication methods and emotions that underlie these issues. This investigation is critical for gaining a deeper understanding of the current political scenario. The significance of basic emotions to individualization applies to studies of political leaders and elites (Berenskoetter & Van…

HEALTHCARE THE IDEA EXPLORER Even amid the formidable challenges of the ongoing war and a grueling economic slowdown, Israel is powering forward on its journey towards becoming a global healthtech leader. That was the overriding message of the 2024 ARC Summit, hosted by Sheba Medical Center in Tel Aviv last month, where Israel's prominence in health technology was on full display. The summit, which brought together top executives, clinicians, investors, and entrepreneurs to examine the future of medical innovation, was a hotbed of groundbreaking partnerships, new initiatives, and cutting-edge technologies. “Israel is uniquely positioned to tackle some of the world's most complex healthcare challenges,” said Prof. Yitshak Kreiss, Director General of Sheba, Israel's largest hospital, in his opening address to the summit. “Innovation is not just a buzzword at Sheba –…

ESG STRATEGIC MANAGER Of all the things that Tesla founder Elon Musk did or said this year, his declaration on ESG – the acronym for Environmental, Social and Governance – may not have been the most newsworthy. But it is among the most interesting. In May 2022, the world's most iconic electric vehicle manufacturer was de-listed by the S&P influential ESG index for a “lack of a low-carbon strategy” and violations of “codes of business conduct” including poor conditions in its California factory and reports of racism. Musk (who may or may not be the owner of Twitter, now called X, by the time this article appears) Tweeted1 his outrage about being de-listed while Exxon, one of the world's largest oil and gas producers, was still included. “ESG is a scam,”…

TECHNOLOGY IDEA EXPLORER The Olympic Games is the world's most celebrated sporting event. The recently concluded Paris 2024 Games hosted more than 10,000 athletes from 206 National Olympic Committees and attracted more than half1 of the world's population to watch the Games as they unfolded over the course of nearly three weeks. Paris 2024 achieved a critical milestone for the Olympic Agenda 2020+5,2 which tries to drive more progress to transform the Olympics for youth and the new era. What is the role of digital technologies in this critical transformation? How can we ensure that the Olympics engage with the younger generation who are “digital natives” and value instantaneous communication through various digital channels? Our ongoing research with the key Worldwide Olympic Partners (WOP) examined the last four games: the Pyeongchang…

PEOPLE MANAGEMENT STRATEGIC MANAGER “REVERSE BACKSTABBING” Gossip is a funny thing. It can be your best friend or your worst enemy. Casual gossip is the fun stuff that gets everyone talking and makes the world feel a little smaller. But negative gossip? It can leave people feeling like they've been run over by a bus! Still, sometimes negative gossip is useful. It exposes the rotten apples, makes the workplace safer, and helps everyone breathe easier. And then there's my favorite type of gossip which I call “Reverse Backstabbing!” That's when people talk behind your back, but in a way that leaves you feeling like a superstar. Let me invite your imagination to one of those chilly Cleveland winter days. It was freezing outside but cozy in the Weatherhead School of Management…

CORPORATE GOVERNANCE STARTUP TRAILBLAZER INTRODUCTION Corporate governance defined in the growth phase of a startup can drastically influence its future, acting as a catalyst for its success or failure. This article explores governance practices and perspectives of investors and CEOs to build models that foster sustainable growth and business agility in startups. Furthermore, it analyses the balance between the expectations of investors and CEOs, who, although united by the desire to succeed, have divergent visions and goals, and thus maintain an agency relationship (Fama, 1980; Fama & Jensen, 1983). While united by their desire for business success, these groups often have divergent visions and objectives. Investors seek security in their investments, aspiring to clarity and predictability in company strategies and direction, and prefer transparent and accountable corporate governance models that foster…