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Through mandatory ESG (environmental, social, governance) reporting large companies must disclose their ESG activities showing how sustainability risks are incorporated in their decision-making and production processes. This disclosure obligation, however, does not apply to small and medium-sized enterprises (SME), creating a gap in the ESG dataset. Banks are therefore required to collect sustainability data of their SME customers independently to ensure complete ESG integration in the risk analysis process for loans. In this paper, we examine ESG risk analysis through a smart science approach laying the focus on possible value outcomes of sustainable smart services for banks as well as for their (SME) customers. The paper describes ESG factors, how services can be derived from them, targeted metrics of ESG and an ESG Service Creation Framework (business ecosystem building, process model, and value creation). The description of an exemplary use case highlighting the necessary ecosystem for service creation as well as the created value concludes the paper.
With the emergence of the recent Industry 4.0 movement, data integration is now also being driven along the production line, made possible primarily by the use of established concepts of intelligent supply chains, such as the digital avatars. Digital avatars – sometimes also called Digital Twins or more broadly Cyber-Physical Systems (CPS) – are already successfully used in holistic systems for intelligent transport ecosystems, similar to the use of Big Data and artificial intelligence technologies interwoven with modern production and supply chains. The goal of this paper is to describe how data from interwoven, autonomous and intelligent supply chains can be integrated into the diverse data ecosystems of the Industry 4.0, influenced by a multitude of data exchange formats and varied data schemas. In this paper, we describe how a framework for supporting SMEs was established in the Lake Constance region and describe a demonstrator sprung from the framework. The demonstrator project’s goal is to exhibit and compare two different approaches towards optimisation of manufacturing lines. The first approach is based upon static optimisation of production demand, i.e. exact or heuristic algorithms are used to plan and optimise the assignment of orders to individual machines. In the second scenario, we use real-time situational awareness – implemented as digital avatar – to assign local intelligence to jobs and raw materials in order to compare the results to the traditional planning methods of scenario one. The results are generated using event-discrete simulation and are compared to common (heuristic) job scheduling algorithms.
The role of entrepreneurs and intrapreneurs in the current zeitgeist is to drive innovation, re-shape rigid, established processes in business as well as for consumers. They use new viewpoints to pioneer new (business) models which focus on ‘smartness’ rather than the purely monetary and short-sighted models of yesteryear. Fostering and supporting the culture of this current zeitgeist is a mayor challenge for entre- and intrapreneurial support infrastructures, namely startup centres and innovation hubs of universities and other public institutions as well as innovation centres of private companies. Hereby, support may range from access to funding over provision of resources such as offices or computing hardware to coaching in the development of business ideas and strategic roadmaps for product and service deployment. In this paper, we focus on describing the status-quo of afore- mentioned support infrastructures in Vorarlberg and the Lake Constance region, then extend the scope to existing (international) approaches for aiding founders and inno- vators in the development of smart services. An analysis of success stories of the Vorarlberg startup centre ‘startupstube’ and other initiatives including their compar- ison to international counterparts builds the basis for a methodological framework for (service science) coaching in entre- and intrapreneurial support infrastructures. The paper is concluded by the description of a framework for choosing the right methods and tools to create service value in entre-/intrapreneurship based upon tested, proven know-how and for defining support infrastructure needs based upon pre-defined stakeholder and target groups as well as the (industry) sectors of the innovators.
Smart services disrupt business models and have the potential to stimulate the circular economy transition of regions, enabling an environmentally friendly atmosphere for sustainable and innovation-driven growth of regions. Although smart services are powerful means for deploying circular economy goals in industrial practices, there is little systematic guidance on how the adoption of smart services could improve resource efficiency and stimulate smart regional innovation-driven growth, enabled through circular design. Implemented in the scope of Vorarlberg’s smart specialization strategy, this paper contributes to the literature on the circular economy and regional innovation-driven growth by assessing critical factors of the value creation and value capture implemented within the scope of the quadruple helix system. By identifying the main challenges and opportunities of collaborative value creation and value capture in setting-up smart circular economy strategies and by assessing the role of innovation actors within the quadruple helix innovation system, the study provides recommendations and set of guidelines for managers and public authorities in managing circular transition. Finally, based on the analysis of the role of actors in creating shared value and scaling-up smart circular economy practices in the quadruple helix innovation systems, the paper investigates the role of banks as enablers of circular economy innovation-driven regional growth and smart value creation.