Innholdsfortegnelse for January/February 2025 i The European Business Review

“In an avalanche, no snowflake ever felt accountable,”  - Voltairei THE RISE OF BUSINESS ECOSYSTEMS What do Apple, Amazon, Alibaba, Netflix, Uber, TradeLens, and SAP have in common? In the contemporary digital economy, all are platform-based1. In turn, platforms are the tip of the iceberg of a new market organization as the main orchestrators of so-called business ecosystems2, – in which organizations interact co-dependently to increase, share, and maintain value. In order to thrive, ecosystems have a shared common evolutionary vision, and each player contributes to the growth and robustness of the network. To paraphrase Moore3, strong ecosystems are dynamic systems of diverse interactions, arrangements and partnerships between the leading center (orchestrator or platform), the network and peripheral players, to exploit complementarities. Through its strategic vision and ecosystemic relational skills,…

THE PROMISE OF WEB3 AND AI Web3’s decentralised architecture offers a unique environment for AI systems to function with greater transparency, security, and autonomy. Theoretically, the decentralised structure of blockchain can distribute ownership of data and computational resources, thereby levelling the playing field for AI. For instance, blockchain-based data marketplaces could empower users to share their data directly with AI systems, bypassing traditional intermediaries and ensuring that individuals maintain control over their privacy and compensation. In decentralised finance (DeFi), we already observe AI being employed to optimise trading strategies and monitor risks in real time, leveraging the transparency and security that Web3 provides. Smart contracts— another innovative aspect of Web3—have the potential to enable AI systems to autonomously execute tasks within decentralised applications (dApps), eliminating the need for central authorities.…

INTRODUCTION In an era characterized by rapid technological advancements, demographic shifts, and evolving workplace dynamics, the role of Human Resources (HR) is facing unprecedented challenges. As we look toward 2025 and beyond, organizations must prepare to navigate a landscape marked by megachallenges that will reshape the nature of work and employee engagement. From harnessing the power of artificial intelligence and data analytics to fostering inclusivity and adapting to remote work paradigms, HR professionals are at the forefront of these transformative changes. This article looks into the megachallenges for HR in the coming years, exploring strategies to not only survive but thrive in an increasingly complex environment. Join us as we uncover the implications of these challenges and the innovative solutions that will define the future of HR. To understand the…

INTRODUCTION The modern business environment is characterized by unprecedented disruption. Rapid technological advancements, shifting regulatory frameworks, and evolving consumer expectations are reshaping industries and demanding heightened organizational agility. These challenges are compounded by economic volatility and geopolitical tensions, creating a dynamic and unpredictable environment. Further adding to this uncertainty, the anticipated return of Donald Trump to office in 2025 could amplify market volatility, posing additional challenges for organizations. In this context, the role of boards of directors is evolving, requiring them to act as proactive stewards of strategy and risk. By leveraging diverse perspectives and employing innovative, lateral thinking, boards are positioned to address complex risks and capitalize on emerging opportunities. Yet, many boards struggle to adapt, leaving their organizations exposed to missed opportunities and heightened vulnerabilities in an increasingly…

INTRODUCTION In an empirical study in Australia in 2024, we asked 689 Australian senior executives to list the characteristics of an innovation culture. We found that about 91 per cent of them listed characteristics such as intellectual courage, risk-taking, and a flexible and non-hierarchical structure. We felt that this was a great start to an innovative culture, but we also added the following tenets to move the company toward more innovation and creativity: more commitment by all employees to think outside the box; providing more support from lower levels; empowering people on the front lines; flatter structures; and using steering committees to lead change. These are tenets that we have learned from Tesla. A lack of proper understanding of the leader’s responsibilities is one of the reasons why the development…

It is commonplace to speak of a particular lawsuit, whether based criminally or civilly, as the “Trial of the Century” although the expression represents a current, heavily publicized litigation. Nevertheless, the United States’ (US) federal indictment and subsequent trial and conviction of Sam Bankman-Fried (SBF) may well be a suitable commentary for the 21st century. The case features individuals with highly enviable scholarly backgrounds, enormous sums of invested monies that were fraudulently converted, substantial contributions to charitable and liberal political causes, mixtures of greed and intended actions in good faith, additional felonious violations, and other elements that are the substance of media exploitation. THE STANFORD CONNECTION SBF is the firstborn son of brilliant parents, Joseph Bankman and Barbara Fried, both of whom were famed Stanford University Law School scholars. Joseph…

INTRODUCTION Over the recent years, AI has conquered the world by storm and has been widely used so far for GenAI with LLMs and chatbots in companies. Results are great and it seems that employees are enthusiastic to adapt new tools to increase their productivity. However, most of these tools are based upon public data and intelligence gathered from it. Ritter and Lu have asserted that the next way in AI will concentrate on enterprises’ own data. We foresee that this next wave of AI will also open up opportunity to utilize the immense power of AI to improve companies’ performance and profitability in particular. We see that there is a huge potential for AI across multiple business functions. Especially, we have already seen how the new wave of AI…

Most executives view themselves as though operating in an industry like banking, retail, or manufacturing but their customers often think differently, focusing on journeys like buying a house (not just getting a mortgage), managing corporate energy efficiency (not just installing an HVAC system) or achieving wellness (not just going to the doctor). We propose that customer expectations and digital technologies are driving the breakdown of industry boundaries, which, in turn, enable companies to offer customers solutions that cross those boundaries, creating more value for both the customer and the company. These comprehensive offerings are designed to fulfill customers’ end-to-end needs in areas such as mobility, energy efficiency, wellness, and lifelong learning—areas we call domains.1 In our global study, the companies we identified as domain-oriented were top performers, with a big…