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Deploying Business Ecosystems To Cope With Ecological Transformation, Arnoud Cyriel Leo De Meyer
Deploying Business Ecosystems To Cope With Ecological Transformation, Arnoud Cyriel Leo De Meyer
Research Collection Lee Kong Chian School Of Business
At a time when businesses must innovate quickly and in support of sustainability, "going it alone" is no longer the most effective or efficient model. Business ecosystems – networks of companies, researchers and other stakeholders each involved in a given value chain – offer an effective route to companies seeking not only to find new advantages, but to drive wider systemic change. When innovation takes place through ecosystems, often, the results are faster to diffuse through an industry or value chain. To address needs of the ecological transformation like the transition to clean fuels, this is exactly what is needed; …
Turning The Tables In Research And Development Licensing Contracts, Niyazi Taneri, Pascale Crama
Turning The Tables In Research And Development Licensing Contracts, Niyazi Taneri, Pascale Crama
Research Collection Lee Kong Chian School Of Business
Research and development (R&D) collaborations between an innovator and her partner are often undertaken when neither party can bring the product to market individually, which precludes value creation without a joint effort. Yet, the uncertain nature of R&D complicates the monitoring of effort, and the resulting moral hazard reduces a collaboration’s value. Either party can avoid this outcome by acquiring the capability that is missing and then taking sole ownership of the project. That approach involves two types of risks: one related to whether the other party’s capability will be acquired and one related to how well it will be …
Licensing Contracts: Control Rights, Options And Timing, Pascale Crama, Bert De Reyck, Niyazi Taneri
Licensing Contracts: Control Rights, Options And Timing, Pascale Crama, Bert De Reyck, Niyazi Taneri
Research Collection Lee Kong Chian School Of Business
Research and development (R&D) collaborations, common in high-tech industries, are challenging to manage due to technical and market risks as well as incentive problems. We investigate how control rights, options, payment terms and timing allow the innovator to capture maximum value from its R&D collaborations with a marketer. Our study reveals a counterintuitive result; the innovator may, under certain conditions, prefer to grant launch control rights or buy-out options to the marketer despite the fact that both terms restrict its downstream actions. We demonstrate that a menu of contracts is not necessary to address the adverse selection problem as the …
Can S'Pore Be An Icon For Service Productivity?, Arnoud De Meyer
Can S'Pore Be An Icon For Service Productivity?, Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
The traditional analysis tools or flexible work design deployed in manufacturing may be insufficient in giving a boost to services. For all practical purposes, there are only two ways to create more value per worker and stimulate growth, we need innovation or become more productive.
Made In Singapore, Plugged Into The World, Arnoud Cyriel Leo De Meyer
Made In Singapore, Plugged Into The World, Arnoud Cyriel Leo De Meyer
Research Collection Lee Kong Chian School Of Business
Manufacturing in Singapore is not an outmoded sector. Instead, it is a job multiplier and can be a source of innovation as well as a vital way to plug the Republic into the global manufacturing network.
Step By Step: The Benefits Of Stage-Based R&D Licensing Contracts, Pascale Crama, Bert De Reyck, Zeger Degraeve
Step By Step: The Benefits Of Stage-Based R&D Licensing Contracts, Pascale Crama, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We examine how a licensor can optimally design licensing contracts for multi-phase R&D projects when he does not know the licensee’s project valuation, leading to adverse selection, and cannot enforce the licensee’s effort level, resulting in moral hazard. We focus on the effect of the phased nature typical of such projects, and compare single-phase and multi-phase contracts. We determine the optimal values for the upfront payment, milestone payments and royalties, and the optimal timing for outlicensing. Including multiple milestones and accompanying payments can be an effective way of discriminating between licensees holding different valuations, without having to manipulate the royalty …
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We study how innovators can optimally design licensing contracts when there is incomplete information on the licensee's valuation of the innovation, and limited control over the licensee's development efforts. A licensing contract typically contains an up-front payment, milestone payments at successful completion of a project phase, and royalties on sales. We use principal-agent models to formulate the licensor's contracting problem, and we find that under adverse selection, the optimal contract structure changes with the licensee's valuation of the innovation. As the licensee's valuation increases, the licensor's optimal level of involvement in the development-directly or through royalties-should decrease. Only a risk-averse …
Manufacturing Operations In Europe: Where Do We Go Next?, Arnoud De Meyer
Manufacturing Operations In Europe: Where Do We Go Next?, Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
Extrapolating from the results of a 10-year INSEAD Survey, the author offers some views on the future for manufacturing in Europe. The model on which the Survey was based indicates that competitive priorities and action plans in manufacturing changed over the 10-year period. Taking lessons from these, the author makes some 'informed guesses' on the future implications for European manufacturers in the form of seven normative features: innovation in the value package; close integration between manufacturing and service; the importance of internationalism; flexible project-based organisation; more integrated management of the value added chain; successful transformation of operational programmes into strategic …