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- All Subjects: Innovation
- Creators: Department of Finance
The first research paper (RP1) reconciles three different conceptualizations of knowledge into a new theory of knowledge. This pluralistic definition allows knowledge to change character across the span of the value creation process. The paper further introduces a model called the Wheel of Knowledge (WoK) for mobilizing knowledge throughout the different knowledge conversions of the value creation process. The second research paper (RP2) advocates that serious play can scaffold and accelerate these knowledge conversion processes, it disaggregates existing serious play approaches, and starts to operationalize the WoK by using it to match different types of serious play approaches to different types of knowledge conversion challenges. The third research paper (RP3) validates the WoK by sorting the serious play literature according to how it applies to the different knowledge conversion processes. The paper provides a framework for ascertaining the applicability of serious play methods to specific knowledge conversion challenges and identifies under-explored research areas of the serious play field. The fourth research paper (RP4) tests the recommendations of RP3 by applying the LEGO® Serious Play® (LSP) method to a knowledge conversion challenge focused on tacit knowledge sharing. It reports on a mixed-methods, multi-session case study in which LSP was used to facilitate cross-disciplinary dialogue and deliberation about a wicked problem. Results show that LSP is particularly useful in the beginning of a value creation process and that it facilitates socialization and tacit knowledge sharing. Taken together the papers demonstrate the necessity, potential, and application of serious play as a catalyst for the knowledge conversion processes presented in the WoK. It is now clear that different serious play approaches are suitable as respectively: an accelerator for trust-building and collective creativity, as a conduit for iterative innovation, and as a way of making rote tasks more engaging.
Through the process of writing the sustainability report for InnovationSpace program, I had gained deeper understanding about applying sustainability concept into daily business procedures. As supply chain is defined as the oversight over materials, services, information and finances flowed within and among companies and industries, the new innovative supply chain management can be better adjusted according to the concern of any sustainable impact to all the stakeholders and communities. After gathering the information from industries and listening to the suggestions from academic insights, I then finalized the proposed innovative sustainability strategy for the supply chain management nowadays and I called it as Diamond Index.
Diamond Index=Avg(Environmental Stewardship+Social Responsibility +Economic Impact)^(Innovation Index)
Economic Impact (Econ)∈ [0, 10] Social Responsibility (Soc)∈[0, 10]
Environmental Stewardship (Env) ∈ [0, 10] Innovation ∈ [0, 1]
In the 21st century economy, life moves pretty fast, and change is happening all around us. For example, it was common to drive to shopping malls with your friends or family and spend the whole afternoon browsing through hundreds of items until you found the perfect purchase. Or, only a few months ago, the entire world was put on lockdown to stop the spread of COVID-19, which caused a recession when consumers stopped spending as much to start saving. Americans also used to enjoy their loud, gas-guzzling cars and trucks to get them from place to place. Now what changed, and why? The study of economics justifies how we, as human, fundamentally live and make choices every day. As we notice the results of our choices, we may continue to do the same the next day, temporarily go another route, or alter our behavior permanently. This framework presents the concept of innovation. By applying this logic to the business world, I will attempt to analyze and defend why the innovations of e-commerce, COVID-19 vaccines, and electric vehicles were the natural cause of society changing perspective to move forward toward a better tomorrow.
The Founders lab is a year-long program that gives its students an opportunity to participate in a unique team-based, experiential Barrett honors thesis project to design and apply marketing and sales strategies, as well as business and financial models to start up and launch a new business. This honors thesis project focuses on increasing the rate of vaccination outcomes in a country where people are increasingly busy (less time) and unwilling to get a needle through a new business venture that provides a service that brings vaccinations straight to businesses, making them available for their employees. Through our work with the Founders Lab, our team was able to create this pitch deck.
This thesis project has been conducted in accordance with The Founder’s Lab initiative which is sponsored by the W. P. Carey School of Business. This program groups three students together and tasks them with creating a business idea, conducting the necessary research to bring the concept to life, and exploring different aspects of business, with the end goal of gaining traction. The product we were given to work through this process with was Hot Head, an engineering capstone project concept. The Hot Head product is a sustainable and innovative solution to the water waste issue we find is very prominent in the United States. In order to bring the Hot Head idea to life, we were tasked with doing research on topics ranging from the Hot Head life cycle to finding plausible personas who may have an interest in the Hot Head product. This paper outlines the journey to gaining traction via a marketing campaign and exposure of our brand on several platforms, with a specific interest in website traffic. Our research scope comes from mainly primary sources like gathering opinions of potential buyers by sending out surveys and hosting focus groups. The paper concludes with some possible future steps that could be taken if this project were to be continued.
This paper advocates for FinTech companies as the key to solving the timeless issues found in the financial industry. With an emphasis on discrimination in the lending industry, this paper covers banking issues, evidence, causes, effects, roadblocks, and potential solutions moving forward. Due to the unique capabilities of FinTech companies and the resources of existing large financial institutions, leveraging each other's strengths through partnerships can lead to cutting-edge solutions with the outreach to make a substantial impact.