Similar to other advanced industrialized countries, Germany’s low population growth and aging workforce put considerable pressure on its national pension system. This chapter begins with an overview of the country’s changing demographics and the pressures they place on the pension system. Next, the chapter reviews some of the major reforms that have been implemented to relieve the strain. The closing section considers several policy strategies that might improve the country’s demographic profile and ensure proper functioning of the pension system. Immigration reforms, family support policies, reduction of future pension obligations and public awareness campaigns are among the most likely measures to improve the pension system performance in the long-run.

The study analyzes the creativity– business model innovation relationship and its impact on financial performance of the firm in the context of advertising industry where there are limited opportunities for process or product innovation. Using moderated mediation model, it is argued that creativity positively affect the business model innovation. Also, business model innovation improves the firm financial performance. Thus, business model innovation mediates the relationship between creativity and financial performance of the firm. Moreover, business group affiliation moderates the impact of business model innovation on firm performance. The results from panel dataset largely support the proposed model. The study contributes to the literature on creativity and business model innovation.

Using a meta-analysis based on 147 primary studies from 27 countries, we synthesize extant knowledge on the relationship between business model innovation (BMI) and firm performance. Our results show that the positive BMI-firm performance relationship is robust across various conceptualizations of and measures for BMI. Building on prior research suggesting that not all companies benefit equally from engaging in BMI, we set out to study important institutional-level contingencies for the BMI-performance relationship. We build on the institution-based view as theoretical perspective and combine it with insights from the innovation literature to theorize that the magnitude of the positive effect of BMI on firm performance depends on institutional contingencies, specifically national culture and pro-market institutions, because these national institutions affect BMI-driven organizational learning processes. Specifically, we argue and show that the positive relationship between BMI and performance is weaker in countries characterized by high levels of masculinity and individualism, and stronger in countries characterized by high levels of customer orientation, economic freedom, and education. Besides the country-level contingencies, the inclusion of various control variables in our meta-analysis also reveals that, even if located in the same institutional environment, start-up firms benefit more from BMI than mature firms and that there are no observable differences regarding BMI benefits among different industries. Moreover, a nuanced analysis shows that the positive effect on performance is stronger when BMI rely on changes in cognitive schemas compared to BMI that are of more technical nature.

The study argues that the educational needs of engineering students for entrepreneurship and managerial education are specific and evolving over time toward a set of skills and knowledge needed in digital and dynamic world. Existing research largely ignored the distinct and evolving nature of these educational needs and their implications for entrepreneurship and managerial education of engineering students. Using design thinking and teaching model literature, we proposed teaching model framework and derived propositions from conceptual arguments to address these educational needs effectively. The proposed conceptual teaching model framework elaborates on the incorporation of cognitive acts of design in various aspects at ontological, didactical, and contextual levels. The framework views education as a process of co-construction, centered on students, where the role of the teacher is similar to that of a coach. Students work in teams and practice the cognitive acts of design that lead to the development of interpersonal, entrepreneurial, and managerial skills. For this purpose, open-ended questioning, real-life customer problems, design thinking methodology, and lean methodology are proposed as effective content and pedagogies to promote the entrepreneurial behaviors required in the current industrial scenario.

The study argues that the needs of engineering students for managerial education are distinct and evolving over time towards entrepreneurial mindset due to new industrial and technological trends. Consequently, managerial education of engineering students is shifting towards Science and technology entrepreneurship education (STEE). Moreover, considering the relevance of design cognition in entrepreneurship and engineering, it is argued that STEE can tackle the challenge more effectively by incorporating design cognition in the education process. Propositions are derived from research literature, and a teaching model approach is proposed that elaborated on the incorporation of cognitive acts of design in various aspects at ontological, didactical, and contextual levels in STEE. The proposed framework views education as a process of co-construction, centered on students where the role of teacher is like a coach. Students work in teams and practice the cognitive acts of design that lead to the development of interpersonal, entrepreneurial, and managerial skills. For this purpose, open-ended questioning, real life case studies, problem and project based learning, and lean methodology are proposed as effective content and pedagogies to promote the entrepreneurial behaviors required in the current industrial scenario.

Considering the immense potential of sustainable business models in tackling the broader challenge of corporate sustainability, this paper integrates the literature streams on sustainability practices and organizational business models to analyze the performance implications of a firm's sustainable value proposition. Based on the analysis of a large panel dataset across different industries, consistent with the proposed theory, a sustainable value proposition has been found to have a positive impact on a firm's market-based financial performance (namely, Tobin's Q). Yet, this impact turns out to be highly context-dependent. In particular, the findings reveal that a firm's R&D capabilities improve the positive effect of a sustainable value proposition on a firm's financial performance. At the same time, the marketing communication capabilities and sustainable practices regarding employee relations reduce the sustainable value proposition's financial performance effect, arguably due to the costs associated with marketing and the loss in employee interest during the process of adopting the sustainable business model elements.

This paper analyzes the role of organizational capabilities in the success of a new business model. In particular, it is argued that when a firm engages in the process of adopting a new business model, existing capabilities are activated and new capabilities are developed that lead to improving company performance. In this regard, the moderating role of managerial and creative capabilities on the assumed positive relationship between a new business model and company performance is analyzed. Furthermore, it is argued that a firm’s business group affiliation can influence its capabilities and hence play a role related to value creation from a new business model. The proposed framework is analyzed using data from the advertising industry. The study contributes to the literature of business models by shedding light on the role of organizational capabilities and business group affiliation.

The study analyzes the business model sustainability and its value creation potential. The process of adopting sustainability in business model is theorized on dynamic capabilities perspective. While analyzing longitudinal data, it is found that business model sustainability creates value for the firm but the impact begin to diminish after certain level. Furthermore, the R&D capabilities of the firm enhance the value creation from the business model sustainability. While the sustainable practices regarding the employee relations reduces this effect mainly due to costs associated with loss in employee interests during the process of adopting sustainability in the business model. The study contributes to the literature in sustainable business models and corporate sustainability.

The study analyzes the innovation process in MNCs as creation and integration of value between subsidiaries and headquarters. It proposes a framework of geocentric innovation model to explain the innovation process in MNCs by emphasizing the significance of subsidiaries. In VUCA world, MNCs use subsidiaries as value generating units to create disruption in host country markets which is later transferred and adapted in other markets worldwide through the process of re-development. Open innovation and dynamic capabilities are the main mechanisms to execute the underlying strategy. The study discusses the case of Harman International Industries to trace the roots of the international innovation strategy of the firm in three pillars of geocentric innovation model. It is concluded that the role of subsidiaries as value generating unit is elevated in the VUCA environment due to the potential of emerging markets to serve as laboratories and the emergence of geographically dispersed technology clusters distanced from MNCs headquarters. So, MNCs are focusing more on dynamic capabilities, disruptive innovation from scratch, and open innovation to generate and integrate knowledge based assets worldwide.

The study has analyzed the innovation process in MNCs as knowledge creation and integration betweensubsidiaries and headquarters. It has proposed the framework of global innovation perspective to explain theglobal innovation process by emphasizing the importance of subsidiaries. Global innovation perspective installs subsidiaries as knowledge generating units through disruptive innovations in host markets which can later betransferred to other host and home markets through open innovation. It has discussed the case of HarmanInternational Industries to trace the roots of the international innovation strategy of the company in three pillarsof global innovation perspective. It has been concluded that the role of subsidiaries as knowledge generatingunit is elevated in the current scenario due to potential of emerging markets to serve as laboratories andemergence of geographically dispersed technology clusters away from MNCs headquarters.

Using a multi-level meta-analysis based on 75 primary empirical studies from 16 countries, we synthesize extant knowledge on business model innovation. We take a dynamic capability perspective to theorize, first, that an entrepreneurial orientation as well as a competitively intense environment drive business model innovation in organizations. We continue to argue that the assumed positive relationship between business model innovation and firm performance is contingent on firm size, industry, as well as the institutional environment. The empirical results based on HOMA, MASEM, and MARA analyses largely support our hypotheses. Our study contributes to literature on business model innovation and strategic management.