a win-win for all Creating a competitive greener economy-Towards a greener economy-Future transport policy Fully exploiting the Single Market Competitiveness in the global market Overall,
Europe strongly suffered from the worst economic crisis since decades. After the first four years of the strategy the need for more growth and jobs remains undiminished.
the EU-compared with other economies in the developed world-continues to underperform in terms of building a smart, innovation-based, knowledge-driven economy.
It trails other advanced economies in all four smart areas identified by the Europe 2020 strategy
and innovative capacity that would allow its economies to unlock new sources of growth. While welcoming the efforts undertaken by the various actors in the EU since 2010,
Whilst public investment might be needed to stimulate economic growth, the political will to tear down the remaining barriers to the European Single Market would also have a positive and significant effect on growth.
Has there been sufficient involvement of stakeholders in the Europe 2020 strategy? are involved you in the Europe 2020 strategy?
As work on EU 2020 progresses, continued stakeholder involvement remains necessary. In this respect, Eurocommerce is committed to continue playing an active role;
Transparency & stakeholder involvement are drivers to ensure that all players adhere to the plan
supporting growth and creating jobs in the European economy. Tools Do the current targets for 2020 respond to the strategy's objectives of fostering growth and jobs?
However, for all European economies, investments in knowledge-generating assets will translate into important drivers for future productivity growth those drivers being a common focus on education, information and communication technologies,
In a globalised economy, open markets and a predictable trade policy are pivotal in furthering Europe's competitiveness and job creation.
The next five years will be critical in returning the European economy to growth and job creation. Retail and wholesale can contribute,
Ensure that the EU 2030 greenhouse gas target is adaptable to other major economies'commitments
COSME and Horizon 2020.10 of 12 What would improve stakeholder involvement in a post-crisis growth strategy for Europe?
Transparency is key for stakeholder involvement. Information made available to stakeholders needs to be easily accessible
and as easy as possible to read. The Commission has demonstrated often its ability to carry out state-of-the-art stakeholder consultations;
existing examples of good practice could inspire other services still lagging behind. Evidence-based impact assessments are greatly important to inform legislative decisions.
Also dialogues among stakeholders should be encouraged wherever relevant. The sectoral social dialogue in commerce works well and deserves continued support.
Eurocommerce has provided detailed comments on impact assessment and stakeholder consultation in two recent position papers.
Two Key Sectors for the European Economy by the Oxford Institute of Retail Management. More specifically on the wholesale sector, Eurocommerce invites the European Institutions to enhance their awareness of b2b trade in Europe.
To this end, we have published our brochure Wholesale Job Engine at the Centre of Europe's Economy.
Commerce plays a unique role in the European economy, acting as the link between manufacturers and the nearly 500 million consumers across Europe over a billion times a day.
176 9. 5 The Business model in the Information and Communication Economy...178 9. 5. 1 The Strategic Variables...
what the Economist called a Data Deluge 4, and they are worth to be considered in order to clearly understand actual and future business challenges of the phenomenon called Big data,
and articulate a vision coherent with market opportunities, effectively engaging customers, employees and other relevant stakeholders Leadership Management Organization Investments in human resources with a mix of new analytical skills and business
Harv Educ Lett 27 (5) 4. The Economist (2010) Data, data everywhere. Special report on information management 5. Davenport TH, Patil DJ (2012) Data scientist:
Adapted from 5 Fig. 2. 1 The three layers of cloud computing. Adapted from 4 2. 1 Introduction 25 commodity servers.
However, this factor forms big challenge for all stakeholders in cloud computing. This happens because of the structure of the cloud computing
system function, service quality, integration, economics, and professionalism. At the third level, these criteria are decomposed into several sub-criteria that may influence an organization's choice of an appropriate cloud computing service provider.
The criteria in this three-level hierarchy are the ones that can be weighted in the approaches mentioned above to decide its importance for the concerned stakeholders 19.2.4.2 Cloud computing Project Implementation Life cycle Conway
and how the transformation to the cloud computing model would help to meet those Outsourcing Provider Evaluation System Function Service Quality Integration Economics Professionalism Usefulness Ease of use Accuracy Tangibles Reliability Security
infrastructure and stakeholders. This step faces two important challenges which are defining the enterprise architecture which can be a time consuming task,
and technical requirements and to fully ensuring stakeholders'engagement and collaboration. 4. Business design. To design how the services will look like
The challenges for this step are providing a clear definition of the existing and desired interfaces and defining the relationship with the stakeholders.
and stakeholders A list of services to be outsourced to the cloud, with documented understanding on impacts to service, people, cost, infrastructure,
and stakeholders Decide what type of cloud outsourcing model will be used, and why it is suitable A cloud outsourcing model,
the assigned project team will accomplish some important tasks such as the transition of the service, the management of the staff impacted, the management of the communication to all stakeholders,
as well as a transformation of the global economy towards a service economy, through a consequent change in IT innovation for service management,
which explores the difference in economics between the two settings, focusing on the relevance of ranking
However, even though a large number of firms recognize the importance of these policies for end users and stakeholders in general,
on the other hand, opening the boundary of a company through the involvement of external stakeholders and users, likewise.
In fact, a Gartner group prediction, reported by the Economist 4, states 1 billion smartphones will be sold in 2015, up from 468 million in 2012.
and engage stakeholders: companies need to consider creating a master vision of the BYOD program by engaging
and collaborating with all key stakeholders early in the IT consumerization process. This covers employees from human resources and legal to IT, corporate services,
such as those listed in Table 5. 2. 1 Engage Stakeholders 2 Update Security Model 3 Decide on OS and devices 4 Plan Deployment 5 Stay current with Technology Fig
the project required significant nontechnical collaborated work with other stakeholders in the business to ensure the company was ready for a new way of working.
Accessed 21 nov 2013 4. The economist (2011) consumerisation the power of many. economist pp 1 4 5. D'Arcy P (2011) CIO strategies for consumerization:
10.1007/978-3-319-04307-4 6, Springer International Publishing Switzerland 2014 113 started as an effort by technologists to learn from different kinds of scientists and specialists such as economists
which have been studied rarely 6. There is a big difference of the influence of the digital collaboration in the global economy in comparison to a single country or region.
or even conflicting goals that the various stakeholders in global IS projects often have. Managing teams that are distributed globally requires a more demanding standard of management and collaboration to those needed for more typical virtual groups within the same economy or region.
Researchers and practitioners need to investigate the previously mentioned causes and other issues that affect the collaboration between people either in a positive or negative way,
in order for information systems to be more successful and productive in the global economy 6. However, confusion can happen because of the lack of common understanding of the Cross Organizational Collaboration (COC),
and opportunity costs imposed on society by the fact that a certain cybercrime is carried out, no matter whether successful or not and independent of a specific instance of that cybercrime''9,
and how it goes about its business (especially the way it relates to its stakeholders and the environment)''18, p. 1119.
The latter can be defined as the sum of perceptions and expectations of the stakeholders and the public of a given business 18,19.
Retrieved from http://stakeholders. ofcom. org. uk/binaries/consultations/0870calls/summary/0870condoc. pdf. Accessed 16 january 2014 28.
as well as to a strategy need for superior business results for all stakeholders 3. Notwithstanding IT performance is linked directly to the long term consequences of the decisions made by top management,
which cannot always guarantee the best results for all stakeholders. As a consequence, IT governance should involve everyone:
IT governance is about the good supervision of IT resources on behalf of the stakeholders who expect a return from their investment.
and business stakeholders but also the web managers within the organization and deep and rich support infrastructure that can include legal department, business experts and ICT specialists as well as external vendors.
These resolutions will be considered as the expectations they demand from the concerned stakeholders. However, if these potential answers for the investigated problem were met not, a cycle of discussions about the suggested solutions,
mechanisms Tactics IT executives and accounts Committees and councils Strategic IT decision-making Strategic IT monitoring Stakeholder participation Business/IT partnerships Strategic dialog
and learning Mechanisms Roles and responsibilities Definition Strategic information systems planning Active participation by key stakeholders Shared understanding of business/IT goals IT organization Structure Balanced scorecards
and strategy maps Collaboration between key stakeholders Active conflict resolution CIO commitment Service level agreements Partnership rewards
in which they also established several CSFS emphasising IT as an integral part of the enterprise and the importance of awareness, communication, stakeholders'involvement, accountability and monitoring across the organization.
when so many stakeholders and processes are involved. However by breaking this task into small, strategic steps,
and partnership 4. Engage key stakeholders 5. Define and align IT strategies to corporate strategies
This can be a mechanism for stakeholders to request controlled changes as exceptions Define a benefit management system
level) 2. Portfolio management (incl. business cases, information economics, ROI, payback) 3. IT budget control
From a practitioner's point of view, the results of the study infer that stakeholders who are concerned with IT management can concentrate their IT governance improvements efforts to the IT processes that showed strong correlation with IT governance performance.
According to those results, improved activities, documentation, monitoring and role assignment of the quality management process would have positive effects on the business stakeholder satisfaction while, on the other hand,
That is, because all government agencies need to integrate seamlessly to provide electronic services to its stakeholders
stakeholders should consider the components that suit their case studies. The second case study discusses the implementation of IT governance to support e-commerce technology that radically influenced
and practices. 9. 1 Introduction The concept of a Business model (BM) is not completely new in the field of economics,
we can argue that this concept is, implicitly or explicitly, an integral part of the behavior of any economic entity in any historical period 3. At the same time, within the fold of standard economic theory, the problem of setting up a business model
however, only a simplified model of the real economic system in which entrepreneurs and managers need to consider the crucial points such as:
because that is what allows an enterprise to transform a technological innovation in sustainable economic value for the business itself 11.9.1 Introduction 167 Table 9. 1 Definitions of business model Authors Definition Key concepts Magretta 2002
The business model is conceived as a focusing device that mediates between technological development and the creation of economic value Technology;
mechanism that generates economic value Venkatram and Henderson 1998 23 A strategy that reflects the architecture of a virtual organization along three primary vectors:
which it operates and its relations with the various stakeholders. This chain is a multi-actor network that includes suppliers, intermediaries and partners through
in formulating and implementing effective business models 3. It can rightly be argued that the‘‘original sin''of many of the so-called dot com that collapsed at the outbreak of the new economy bubble during the years 2000 and 2001 can be identified precisely in the absence of an economically successful,
which the potential value of an idea or technology is transformed actually into economic value. The centrality of the business model can be defined through the two following core processes any company is called necessarily to deal with
but it also has companies facing the need to reconsider the process of economic value appropriation.
but also the roles played by the various relevant stakeholders such as customers, suppliers, competitors and suppliers of complementary services, outlining the relationship between the parts that make up an enterprise's network.
and that involve significant changes with respect to the socalled industrial economy and will therefore be called upon to design
Table 9. 7 compares the essential features of the processes of transformation of the traditional industrial economy on one side and that of the digital economy on the other.
In the industrial economy a process of value creation starts from raw materials and from the physical inputs that are needed to produce finished products or services.
The industrial economy is driven by the offer side with a constant focus on cost containment, while, as already discussed, the digital economy is driven fundamentally by customer demand.
However, in the industrial economy knowledge generation and application processes are aimed essentially at making production more efficient through cost reductions
resulting in a drastic transformation of the productive processes of economic activities they touch and producing a different distribution of wealth compared to the situation before their introduction.
and the digital economy Industrial economy Digital economy Business process orientation Guided by offer Guided by demand Economic focus Cost minimizing Value maximizing Product policy Offer standardization Offer personalization
41,42. 9. 5 The Business model in the Information and Communication Economy The consolidation of the information and communication economy is the culmination of the process of evolution that had the service economy gradually replaced the industrial economy,
using the terminology of economic theory, these products are characterized by high fixed costs and low marginal costs.
This type of cost structure implies that there is a minimum efficient scale of production and dissemination and that the declining average costs requires an increase in sales.
and Communication Economy 179 experience goods must devise strategies to persuade users to overcome their reluctance to buy information before knowing the characteristics.
the central problem of the information economy can be summed up in the contrast between the need for users to understand the characteristics of the main product/service that is being offered to them
which exploits the peculiarities of the information economy, is the so-called‘‘freemium''(combination of‘‘free''and‘‘premium'')
and hyper-competitive have undermined the very architecture of innovation processes that were the basis for the growth of 9. 5 The Business model in the Information and Communication Economy 181 companies for many years, pushing towards a profound transformation
. 5 The Business model in the Information and Communication Economy 183 broadening the portfolio of solutions and projects
because it operates within a business model capable of transforming the output of R&d in economic value,
selecting and involving all stakeholders, both internal and external, in the process of innovation through the creation of strategic alliances.
which companies lose liquidity and customers feel stressed. Bringing the payment platform to a simple e-mail helps in mitigating this issue,
Many Enabling infrastructure Ready 204 10 Innovation Practices The New york times, The Economist, The Wall street journal and other publications).
but to the progress of industries and economies. Just over 20 years ago, the internet was emerging
High-impact entrepreneurship involves a network of actors in the best spirit of the World Economic Forum's multi-stakeholder framework.
They grew aggregate revenues of nearly $100bn by 30%annually for two years straight in an environment where the overall economy grew at less than 1/10th of that rate.
000th of the total number of US companies) have created over 160,000 jobs in the last two years (nearly 1/20th of the total US economy).
In line with the Forum's mission, this report hopes to stimulate constructive debate across multiple stakeholders,
The research covered business strategies, economics and job creation. Entrepreneurial Ecosystems Around the Globe and Company Growth Dynamics, in collaboration with Stanford university, Endeavor Global and EY, analyzed what makes entrepreneurial companies successful in accessing new markets and scaling around the globe.
enrich lives and contribute to the vibrancy of national economies. The contest starts at the regional level, with 25 different competitions that select award winners.
and is leading the global movement to catalyze longterm economic growth by selecting, mentoring and accelerating the best high-impact entrepreneurs around the world.
This stands in the context of 150,000 monthly jobs created across the whole US economy (comprised of some 6 million companies) during the same time period.
So a sample of 1/10, 000th the total number of US companies has created 1/22th of the economy's jobs a good indicator for highimpact.
often with a significant impact on local economies. The recent effect of Facebook's IPO on both the local San francisco bay Area economy as well as tax revenues is a good example.
Of course, such wealth creation needs to be viewed in the broader picture of societal balance and is viewed not always completely positively by all stakeholders.
On the borderline between wealth creation and customer benefits are companies like Lyft or Airbnb that allow others the productive use of underutilized assets.
as many high-impact businesses operate in network economies (or even create them). While a company like Facebook has changed clearly the way we communicate
in order to create considerable economic value. Often these innovations serve as a way for growing companies to capture market share
This value creation, in economic terms, can be viewed as a positive externality to the economics of the enterprise itself,
Airbnb, Lyft and other corporations active in the sharing economy are prime examples of corporate societal disruptors.
At the same time, the US economy added 3. 6m jobs to an existing base of approximately 136m a marginal job creation rate of 2. 64%.
the US economy operates on a much larger base, but the impact the Eoy contestants have is nevertheless nothing short of astonishing.
Median Return on Assets data for Entrepreneur Of The Year participant companies Fig. 4. 3. Marginal 2-year job creation rates for Eoy sample and the US economy
(2010-2012) EOY national finalists 60.5%EOY award winners 47.9%EOY contestants 33.8%US economy 2. 64%High-impact Entrepreneurs
Simultaneously, learning effects and scale economies keep positive momentum on margins in this stage. This analysis shows the importance of operational metrics other than just growth through the life stages.
when applying, we can compare the relative job creation rates as exemplary for high-impact companies across the US economy.
Because an entrepreneurial ecosystem it will only be successful and sustainable if it works for all stakeholders.
She holds an MBA from INSEAD, an MA in International Studies, Economics and Middle east Studies from The Johns hopkins university and a BA in International Studies and Business Administration from the University of South carolina-Columbia.
Economics and Anthropology from Ludwig Maximilian University in Munich. About the Authors and Acknowledgments ERNST & YOUNG Maria Pinelli Maria Pinelli is Global Vice-Chair for Strategic Growth Markets at Ernst & young (EY) Global,
Pinelli has briefed on trends in entrepreneurship, innovation, economic growth, and those driving global activity in the IPO market to a number of organizations and governments:
Hiscock-Croft was a Senior Economist at the investment bank Macquarie. She holds a Master's degree in Financial Econometrics from the University of New south wales
a nonprofit organization transforming economies around the globe through high-impact entrepreneurship. With offices in 20 countries, Endeavor supports over 500 entrepreneurial firms that collectively command US$ 6 billion in annual revenue and provide over 225,000 people with high-quality jobs.
His work been recognized in publications like The New york times and The Economist. Jeremy began his career with the strategy consultants Mckinsey and Company.
What impact would this have on Europe's economy and society? It is reasonable to assume that European output
The development of the project and this report have shone the light on the benefits of reducing fragmentation and increasing collaboration across different disciplines and stakeholders.
this challenge includes persistent innovation divides between European economies as well as between Europe overall and comparator economies such as the United states. The report suggests a forward-looking agenda designed to contribute to Europe's competitiveness
and growth by encouraging a robust environment of ambitious, serial entrepreneurs who envisage, create and scale innovation-driven ventures.
and jobs across the region Stakeholders have significant scope to positively influence external factors affecting each of these phases.
and create better conditions for cross-stakeholder or cross-regional collaboration between different actors. In addition to policy-makers'ongoing efforts, private actors are very willing to contribute.
To more effectively and efficiently support innovationdriven entrepreneurship in Europe, stakeholders need to focus, connect and partner.
More explicit criteria that can help stakeholders identify and invest in momentum-building entrepreneurship initiatives are needed.
stakeholder need to create better and new connections across countries, sectors and programmes that meet key criteria.
Building on an enabling network, stakeholders must be encouraged and supported to collaborate and partner across initiatives, regions,
growth expectations remain tempered across advanced economies, and in the Eurozone in particular, where growth rates remain low and unemployment stubbornly high.
Europe continues to struggle to increase its competitiveness and set its economy on a more solid footing.
many other European economies have much ground to cover. This result is confi rmed by the Forum's 2014 edition of the EU2020 Competitiveness Report
which indicates that Europe has the greatest gap with benchmark economies and the greatest divergence between its member states with regard to measures of smart growth, particularly with reference to the digital agenda and innovation.
Entrepreneurship is defined as the pursuit of opportunities beyond the resources you currently control. 10 Turning an innovative idea into economic activity creates companies, economic growth and jobs.
Belgium, France, Netherlands, Republic of ireland and United kingdom), indicating a potential draw for entrepreneurs from these economies to Central and Eastern European (CEE) countries to take advantage of lower fixed
%when looking at the opportunity cost of the decision, the same group said that relative to other career opportunities,
reaching more than 500,000 participants. 28 Partnering across stakeholder groups to improve regulatory framework Start-up Europe was launched in March 2013 with a six-part plan to accelerate
Increased demand for collateral after the economic crisis restricts access to bank loans for entrepreneurs The European Small Business Finance Outlook 2013
and The Global Competitiveness Report 2013-2014 show that the financial and economic crisis continues to impact capital supply by influencing financing
and thus contribute to fuelling the European economy. Jan Mühlfeit Chairman, Europe, Microsoft Corporation Benefit for large corporates Benefit for entrepreneurs Risk to one or both partners Company shares in high-potential entrepreneurial ventures Access
The CEO-Collaborative Forum (CEO CF) is where CEOS from high-growth companies convene to explore practical solutions to critical problems about finance, raising capital, shareholder issues, their board growth strategies
The role of innovation-driven entrepreneurship in the economy: Which role does driven innovation entrepreneurship play for your economy?
Could you estimate what proportion of SME employees in your country are working in innovation-driven SMES?
In general, policy-makers highlighted the important role of entrepreneurship for the European economy. Key activities on the policy agenda include steps to tailor education to the needs of entrepreneurial careers,
of Finland António Pires de Lima Minister of Economy of Portugal David Willetts Minister of state for Universities and Science of the United kingdom Figure 19:
-driven entrepreneurship in your economy: More than 20 million SMES in Europe have a key role to play in fostering innovation.
Fostering Innovation-driven Entrepreneurship in Europe 35 Toomas Hendrik Ilves President of Estonia The role of innovation-driven entrepreneurship in your economy:
of Finland The role of innovation-driven entrepreneurship in your economy: Innovation-driven entrepreneurship is one of the key focus areas in the Finnish government's economic policy.
Most of the economic policy measures that the government takes include the aspect of supporting innovation.
Forty-six per cent of all Finnish enterprises had innovation activity related to products and processes in 2008-2010.
Kroes Vice-president and Commissioner for the Digital Agenda, European commission The role of innovation-driven entrepreneurship in your economy:
It's quite simple it's about growing the economy and solving our social challenges.
Sass Larsen Minister for Business and Growth of Denmark The role of innovation-driven entrepreneurship in your economy:
Entrepreneurs play a key role in securing competition and innovation in the economy. In recent years innovation-driven entrepreneurship has become an important part of Danish policy.
and act as an engine for innovation in the global knowledge economy. Open and innovative large companies play a vital role in the emergence and development of entrepreneurial ecosystems.
Fostering Innovation-driven Entrepreneurship in Europe 39 António Pires de Lima Minister of Economy of Portugal The role of innovation-driven entrepreneurship in your economy:
the Portuguese economy suffered structural changes: becoming a highly exporting, increasingly innovative and entrepreneurial economy.
Our exports have grown significantly (at the fastest pace in EU15, and have increased their technological profile).
Portugal still struggles to extract economic value out of its scientific excellence, and Portuguese business innovation lags behind its European peers in technological outputs of the innovation effort.
and an enabling business regulatory environment. 40 Enhancing Europe's Competitiveness Mark Rutte Prime minister of The netherlands The role of innovation-driven entrepreneurship in your economy:
thereby making a significant contribution to the Dutch economy. Among the innovation-driven economies in the EU-28, The netherlands is the most entrepreneurial economy in terms of new and nascent entrepreneurship according to the Global Entrepreneurship Monitor.
A recent success in fostering entrepreneurship: Recent successes by The netherlands in improving the conditions for innovation-driven entrepreneurship are the top sector approach, valorization grants and an action plan for skilled technical workers.
To achieve this, there is an ongoing dialogue with the relevant stakeholders to discuss factors that hamper growth
Fostering Innovation-driven Entrepreneurship in Europe 41 Bohuslav Sobotka Prime minister of the Czech republic The role of innovation-driven entrepreneurship in your economy:
Innovation-driven entrepreneurship is one of the most important drivers for sustainable development of the economy in the Czech republic.
This needs the cooperation of several stakeholders, mainly the media, but also other actors who can motivate highly-skilled people to found an innovation-driven company,
e g. for academic spin-offs. 42 Enhancing Europe's Competitiveness David Willetts Minister of state for Universities and Science of the United kingdom The role of innovation-driven entrepreneurship in the economy:
Over time, on an economy-wide scale, innovation has contributed as much as 70%to the UK's economic growth.
including the economy, taxation, regulations, competition and cash-flow issues. There were also a number of barriers that innovative SMES experience over and above those that do not innovate:
and momentum by connecting stakeholders better Together, focusing stakeholders on what works at scale, connecting actors and developing effective partnership approaches can lead to a more integrated innovation ecosystem that can contribute to growth in European industries
needs, preferences and locations of relevant stakeholders, including entrepreneurs, interested businesses, civil society stakeholders, investors and potential mentors.
Emerging examples of resources and partnership networks are detailed below. Partner: Developing entrepreneurship initiatives that achieve both scale
and momentum by connecting stakeholders better The ultimate goal of this report is integrated a more European innovation ecosystem that supports serial entrepreneurs.
and followed by active partnerships between stakeholders. Linking stakeholders and programmes across countries, sectors, industries and areas of focus can help activities that produce tangible results achieve greater scale and momentum.
Fully 80%of project survey participants see significant potential to improve the level and impact of collaboration between entrepreneurs, universities, large companies and academic institutions (Figure 23.
The key to success of this agenda is mobilizing stakeholders who are willing to promote it in multiple contexts.
the World Economic Forum is working with constituents to create momentum for the agenda among various stakeholders across Europe.
Caroline Jenner, Chief executive officer, Junior Achievement-Young Enterprise (JA-YE) Europe Various forms of women-led economic activity are important to the growth agenda.
Jimmy wales, Founder and Chair Emeritus, Board of trustees, Wikimedia Foundation We need to rethink education of the next generation of entrepreneurs to encourage market-generating innovation as a basis for sustainable economic growth.
European stakeholders must prepare for new public and private-sector activities that will unleash future waves of innovation.
as an example, how the advent of the sharing economy (in the form of Airbnb and Uber) is challenging government
in European economies. Understanding, anticipating and shaping these shifts will be critical to ensuring that Europe prepares ecosystems ready for the next decade of breakthrough innovation.
Today, with the need to invest in innovative economies and innovative governments higher than ever,
governments need strong support from various stakeholder communities (including business and civil society), because the duration of the policies required will exceed often that of their electoral mandate.
businesses and citizens would best fit in a future global knowledge economy. For example, a key issue to be considered in such a context is that of talent:
As engines of economic growth, innovation and technological progress, they have brought much good to humanity. But as the financial crisis of 2008 has demonstrated,
a change of external relationships between traditional and nontraditional stakeholders and the environment, and a change of outlook among the top management.
In 2030, the world's largest corporations are those that harness Swarm Economics, with hundreds of thousands of individuals coming together to solve the highest value problems,
From Fortress Firms to Cambrian Corporations Mark Esposito, Associate professor of Business and Economics, Grenoble Graduate school of Business, France,
and Instructor, Harvard university Extension School, USA Olaf Groth, Professor for Global Strategy, Innovation, Management and Economics, HULT International Business school, USA Fostering Innovation-driven
This has continued the trend of large, developing economy multinationals finding advantage in harvesting opportunities in diverse parts and corners of their economies.
markets and stakeholders as a Coral reef consisting of diverse pockets of opportunity. Such organizations have mastered the ability to spark,
Meanwhile, Cambrian Corporations need to remain closely connected with their stakeholders and broader society. New social and economic challenges will emerge,
misalignment and realignment between these corporations with other sets of stakeholders that are contributing to
or are impacted by convergence issues. 54 Enhancing Europe's Competitiveness Realizing scale economies will have to happen through shared infrastructure systems with other corporations
The achievement of scale economies across these different parts of the Coral reef and the different convergence spaces will be highly challenging and non-trivial.
and capturing value from new economic activity. The future shape of the global corporation will require a redefinition of
In this way, problem stakeholders can become solution co-innovators in a sustained fashion and the role of the corporation will have morphed from one of an agent of volatility to that of an agent of stability.
Stakeholders should tap into this motivation at scale to create the most supportive environment possible for each life cycle phase,
stakeholders need to focus, connect and partner, creating greater transparency and increasing collaborations across sectors.
European stakeholders must be prepared to harness these shifts, rather than block them, to ensure that Europe regains its position at the innovation frontier
please email europeentrepreneurship@weforum. org. 56 Enhancing Europe's Competitiveness Endnotes 1. The entrepreneurial life cycle is defined here as including the factors influencing an individual to turn an idea into economic activity or join a start-up as an employee,
Diedrichs, E. 2013), Do SMES lose their appetite for innovation during the economic crisis? Blog on Innovationmanagement. se. 16.
Adecco, INSEAD, Human Capital Leadership Institute (2013), Global Talent Competitiveness Index Barclays report, written by The Economist Intelligence Unit (2014), Start me up:
Young Global Leader Paul Campbell, Chief executive officer, Start-up Genie, USA Cross-report contributors Olaf Groth, Professor for Global Strategy, Innovation, Management and Economics
, HULT International Business school, USA Mark Esposito, Associate professor of Business and Economics, Grenoble Graduate school of Business, France,
Faxander, President and Chief executive officer, Sandvik, Sweden Blair L. Fortner, Global Chief Economist, Monsanto Company, USA Hamish Forsyth
Communication Networks, Content and Technology, Belgium António Pires de Lima, Minister of Economy of Portugal Benoit Potier, Chairman and Chief executive officer, Air liquide, France Subramanian Rangan
Lead Economist, Office of the Chief Economist for the Europe and Central asia Region, World bank, WASHINGTON DC Maria Fanjul, Chief executive officer, entradas. com, Spain Charles Grant, Director, Centre
ESADEGEO-Center for Global economy and Geopolitics, Spain Mark Spelman, Global Managing director, Accenture, United kingdom Pawel Swieboda, President, demoseuropa-Centre for European Strategy Foundation, Poland
Nicholas Davis, Director, Head of Europe Caroline Galvan, Economist, Global Competitiveness and Benchmarking Network Peter Gratzke, Senior Project Associate, Investors Industries Team Thorsten
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