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This study aims to explore the requirements that manufacturing companies must meet when implementing advanced services involving financial solutions.

This study develops a framework to assess the applicability of advanced services from a financial perspective, which is applied in a multi-case study setting.

This study identifies relevant internal and external conditions to the business implementing financialised advanced services – such as the finance function’s level of sophistication, the capacity to assess market potential or the ability to use financial structuring to attract new financial players – that help predict the likelihood of adopting advanced services involving financial solutions. The research suggests planning operations as a “financial product” from the viewpoint of the financer and investor.

The financing culture and market disparities may condition the relative weight of the dimensions analysed in the framework.

Launching services involving financial solutions is a complex process, and hence, the proposed framework can help managers identify the major adjustments needed to embrace those advanced service modalities.

This study investigates the role of financial solutions in advanced services, from both the conceptual and business perspectives.

This paper aims to assess the existence of, or the risk of running into, a smart service paradox for industrial firms and how to overcome it.

A qualitative multiple case study is conducted involving four machine tool builders. The main source of data is formed by semi-structured interviews with service business managers. NVivo software was used to structure the interview harvest.

The findings reveal that a smart service paradox is a realistic threat for industrial firms, that smart service business development is a supply push affair rather than a matter of demand pull, that two types of permissions need to be granted by prospective users (license to operate and license to charge) and that three intermediate steps need to be undertaken and validated to overcome a smart service paradox: value testing or proofing; value recognition; and value sharing.

This study was vendor-centric and did not involve the industrial customers to whom the smart services were directed. It was based on a small sample, which limits the generalizability of findings to a broader or different (sectoral) context.

Lessons are identified for service managers on how to circumvent a smart service paradox.

This study departs from a value creation-delivery-capture (“business model”) perspective to assess smart service paradox dynamics. By adopting a relational perspective to it, the present paper succeeds in presenting a more granular version of the base business model.

This paper aims to study whether international niche market leaders (INMLs) gained their leading position as early mover or diligent follower, and assess whether they leveraged hard or soft forms of technological, supply pre-emption and customer lock-in advantage mechanisms.

Empirical material stems from qualitative and quantitative data on a sample of 20 niche companies from the Basque Country (Spain) that operate in business to business markets.

The sample predominantly followed an early entrant strategy and applied soft measures to reach niche market leadership.

Findings imply that early entering fosters conquering leadership in niche markets, that pioneer advantage is easier to sustain in niches than in mainstream markets, and that soft measures are more effective in niche markets than in larger markets. A limitation to our findings is that they follow from explorative research on a sample of firms from a reduced geographic setting.

Hidden champions and INMLs can be important sources of technological progress and economic value for the localities that host them. Therefore, despite their traditional low profile and the fact that they are not always the largest firms around, policymakers may want to pay more attention to this type of companies.

Tot he best of the authors’ knowledge, this is the first paper to research entry timing and its outcome for market leadership with regard to niche players or hidden champions-type of firms. It introduces an original taxonomy to operationalize and distinguish between hard and soft measures to leverage advantage mechanisms related to market entry timing.

The purpose of this paper is to test whether knowledge-intensive business services (KIBSs) contribute to international business activity. In line with studies from the servitization, the territorial competitiveness and the global value chain realm, it can be hypothesized that if KIBS consumption has a positive effect on business competitiveness, a correlation is discernible between “intensity of KIBS uptake” and “turnover and export performance at industrial sector level”.

To test this hypothesis, the authors make use of input-output tables from the Basque Country for the period 2000-2012 and regional accounts regarding turnover and export per sector and calculate how consumption of a series of KIBS correlates with turnover and export evolution for 14 industrial sectors.

The authors find a strong fit between consumption of KIBSs and international competitiveness parameters for the industrial sectors screened.

The authors postulate that the use of KIBS is beneficial for consuming industries. Accordingly, the authors posit that having a sound KIBS basis in a territory contributes to (international) business competitiveness, and that industrial policies should foster the rapprochement of manufacturing sectors to KIBS. At the same time, the authors assume that reverse causalities may be at play (international competitiveness of manufacturing sectors boosts KIBS consumption through backward linkage effects).

The paper posits that having a sound KIBS basis in a territory contributes to international business competitiveness, and that industrial policies should foster a rapprochement of manufacturing sectors to KIBS. A further implication would be to look after a minimum critical mass and or to engage in KIBS capacity building in a territory. Absence of competitiveness-enhancing KIBS in a region may hamper business performance and staying power of user industries. The paper’s findings also imply that the posture of manufacturing firms towards uptake of knowledge-intensive services matters, and that fostering their proactiveness to interact with KIBS is indicated. Similarly, they form an argument in favour of considering KIBS as active subject matters for industrial policy design.

Amidst the several perspectives adopted upon KIBS’ role to foster business and territorial competitiveness, what is largely absent is the examination of how uptake of KIBS by respective sectors relates to the turnover or export evolutions that the sectors in question reveal. Consequently, the present paper sets out to examine this research question.

This study explores whether machinery firms with a ‘hidden champions’ profile leverage Industry 4.0 practices to roll out smart services; whether this allows them to get a firm grip on their installed base; and whether it allows them to expand their international (service) business. The research is conducted based on exploratory, multiple-case study methods.

The author finds that the implementation of smart services can improve a machine tool builder’s hold on its installed base and expand the scope of its international (service) business. However, the study also finds that the ability to capitalise on this potential depends on a series of moderating variables. The study also concludes that there is a risk that smart services do not unlock a strong willingness-to-pay among potential customers.

It, therefore, calls into question several conventional wisdoms, such as the possibilities that Industry 4.0 offers for suppliers operating in business-to-business markets, and the receptiveness to smart services by buyers in such markets. Finally, it highlights the specific liabilities faced by hidden champions with regard to expanding their smart services business.

The chapter provides practical insights into the hurdles that industrial suppliers must overcome in their attempts to achieve uptake of smart services by customers, particularly within a cross-border context.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Providing smart services offers suppliers of advanced industrial products a potential source of additional revenue. However, attaining the business goal of offering mutual value requires such firms to take various measures that help address client skepticism about data security and the benefits that adoption of this support will bring them.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

This paper aims to analyze the impact of COVID-19 on the trade of goods and services in Spain.

This paper uses monthly trade data at the product, region and firm level.

The COVID-19 crisis has led to the sharpest collapse in the Spanish trade of goods and services in recent decades. The containment measures adopted to arrest the spread of the virus have caused an especially intense fall of trade in services. The large share of transport equipment, capital goods, products that are consumed outdoors (i.e., outdoor goods) and tourism in Spanish exports has made the COVID-19 trade crisis more intense in Spain than in the rest of the European Union.

The nature of the collapse suggests that trade in goods can recover swiftly when the health crisis ends. However, COVID-19 may have a long-term negative impact on the trade of services that rely on the movement of people.

It contributes to understand how COVID-19 has affected the trade in goods and services in Spain.

A robust body of scholarship has attached unintended childbearing, cohabitation, and stepfamily living arrangements to a greater risk of union instability in the United States. These aspects of family life, which often co-occur, are overrepresented among disadvantaged populations, who also have an independently higher risk of union instability. Existing scholarship has modeled these family experiences as correlated events to better understand family and union instability, yet the authors assert a direct effort to test whether or how unintended childbearing differs across marital and stepfamily statuses makes important contributions to established research on relationship stability. Drawing on the 2006–2017 National Survey of Family Growth (NSFG), the authors test potential moderating effects to better understand the linkages between unintended childbearing and union dissolution among 7,864 recent, higher-order births to partnered mothers via discrete-time, event history logistic regression models. Findings confirm that unintended childbearing, cohabitation, and stepfamily status are all linked with a greater risk of dissolution. However, unintended childbearing is differentially linked to instability by marital status, with unintended childbearing being associated with a higher risk of dissolution for married couples relative to cohabiting couples. Unintended fertility does not seem to increase the risk of instability across stepfamily status. Findings provide more evidence in support of selection, rather than causation, in explaining the association between unintended childbearing and union instability among higher-order births. Results suggest that among higher-order births, unintended childbearing may reflect underlying relationship issues.