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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.
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.
Purpose: Although there is an apparent potential in using data for advanced services in manufacturing environments, SMEs are reluctant to share data with their ecosystem partners, which prevents them from leveraging this potential. Therefore, the purpose of this paper is to analyse the reasons behind these resistances. The argumentation paves the way for elaborating countermeasures that are adequate for the specific situation and the typical capabilities of SMEs.
Design/Methodology/Approach: The analysis is based on literature research and in-depth interviews with management representatives of 15 companies in manufacturing service ecosystems. Half of these are manufacturers and the other half technology or service providers for manufacturers. They are SMEs or partly larger companies operating in structures that are typical for SMEs.
Findings: Data sharing hurdles are investigated in the five dimensions, 1. quantifying the value of data, 2. willingness to share data and trust, 3. organizational culture and mindset, 4. legal aspects, and 5. security and privacy. The ability to quantify the value of data is a necessary but not sufficient precondition for data sharing, which must be enabled by adequate measures in the other four dimensions.
Originality/Value: The findings of this empirical study and the solution approach provide an SME-specific framework to analyze hurdles that must be overcome for sharing data in an ecosystem.
Manufacturing SMEs can apply the framework to overcome the hurdles by specific insights and solution approaches. Furthermore, the analysis illustrates the future research direction of the project towards a comprehensive solution approach for data sharing in a manufacturing ecosystem.