Eduard Hartwich, Philipp Ollig, Gilbert Fridgen and Alexander Rieger
This paper aims to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by identifying and structuring common characteristics within a taxonomy…
Abstract
Purpose
This paper aims to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by identifying and structuring common characteristics within a taxonomy. NFTs are hyped and increasingly marketed as essential building blocks of the Metaverse. However, the dynamic evolution of the NFT space has posed challenges for those seeking to develop a deep and comprehensive understanding of NFTs, their features and their capabilities.
Design/methodology/approach
Utilizing common guidelines for the creation of taxonomies, the authors developed (over 3 iterations), a multi-layer taxonomy based on workshops and interviews with 11 academic and 15 industry experts. Through an evaluation of 25 NFTs, the authors demonstrate the usefulness of the taxonomy.
Findings
The taxonomy has 4 layers, 14 dimensions and 42 characteristics, which describe NFTs in terms of reference object, token properties, token distribution and realizable value.
Originality/value
The authors' framework is the first to systematically cover the emerging NFT phenomenon. This framework is concise yet extendible and presents many avenues for future research in a plethora of disciplines. The characteristics identified in the authors' taxonomy are useful for NFT- and Metaverse-related research in finance, marketing, law and information systems. Additionally, the taxonomy can serve as an information source for policymakers as they consider NFT regulation.
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Felix Krause, Marc‐Andre Bewernik and Gilbert Fridgen
The continuous redesign of processes is crucial for companies in times of tough competition and fast‐changing surrounding conditions. Since the manual redesign of processes is a…
Abstract
Purpose
The continuous redesign of processes is crucial for companies in times of tough competition and fast‐changing surrounding conditions. Since the manual redesign of processes is a time‐ and resource‐consuming task, automated redesign will increasingly become a useful alternative. Hence, future redesign projects need to be valuated based on both a manual and an automated redesign approach. The purpose of this paper is to compare the manual and automated process redesign on the basis of the Business Process Management (BPM) lifecycle.
Design/methodology/approach
In this paper, the authors compare the manual and automated process redesign on the basis of the Business Process Management (BPM) lifecycle. The results form the basis for a mathematical model that outlines the general economic characteristics of process redesign as well as for the manual and automated approaches. Subsequently, the authors exemplarily apply their model to a set of empirical data with respective assumptions on particular aspects of the automated approach.
Findings
In the problem setting described in the paper, the valuation model shows that automated process redesign induces an equal or higher number of optimized processes in a company. Therefore, the authors present a decision support that outlines how much to invest in automated process redesign.
Research limitations/implications
The model considers the cost side of automated process redesign; therefore, further research should be conducted to analyze the possibility of higher returns induced by automated redesign (e.g., through a quicker adaption to real‐world changes). Moreover, for automated redesign, there is no requirement for broad empirical data that should be collected and analyzed as soon as this approach leaves the basic research and prototyping stages.
Practical implications
This paper presents an approach that can be used by companies to estimate the upper limit for investments in manual and automated process redesign. Working under certain general assumptions and independently from actual cost and return values, the paper demonstrates that automated process redesign induces an equal or higher ratio of optimized processes. Thus, companies introducing automated redesign cannot only apply the model to evaluate their investments but can also expect a higher ratio of optimized processes for this approach.
Originality/value
As existing literature primarily focuses on the technical aspects of automated process redesign, these findings contribute to the current body of literature. This paper discusses a first decision‐support for the economic aspects of automated process redesign, particularly with regard to the investments that are required for it. This information is relevant as soon as the approach leaves the stage of a prototype.
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Xusen Cheng, Jian Mou, Xiao-Liang Shen, Triparna de Vreede and Rainer Alt
Noel Scott, Brent Moyle, Ana Cláudia Campos, Liubov Skavronskaya and Biqiang Liu
Ma José Barlés‐Arizón, Elena Fraj‐Andrés and Jorge Matute‐Vallejo
This study aims to identify typologies of women who take holiday decisions within the couple, characterizing their profile through their lifestyles and some socio‐demographic…
Abstract
Purpose
This study aims to identify typologies of women who take holiday decisions within the couple, characterizing their profile through their lifestyles and some socio‐demographic variables.
Design/methodology/approach
The information was obtained through a survey addressed to Spanish women who were married or lived with their partner. Data were used to perform two types of analyses: scales validation and cluster analysis.
Findings
Three different groups have been found depending on the importance the women give to pre‐ and during‐holiday decisions. These groups present specific socio‐demographic characteristics, interests and opinions. However, findings reveal the need for further research into women's lifestyles as an explanatory variable.
Research limitations/implications
This information will contribute not only to the academic knowledge, but will also help tourist managers to create competitive offers. It will also allow managers to implement more efficient promotional campaigns with the aim of attracting female tourists.
Originality/value
A classification of women, based on their holiday decisions, their lifestyles (activities, interest and opinions, AIO scale) and on some socio‐demographic variables (age, time living with the partner, children, occupation, level of studies, personal and family income, etc.), is provided in order to characterise them.
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Supply chain efficiency can be enhanced by integrating the activities in supply chain through digitalization. Advancements in digital technologies has facilitated in designing…
Abstract
Purpose
Supply chain efficiency can be enhanced by integrating the activities in supply chain through digitalization. Advancements in digital technologies has facilitated in designing robust and dynamic supply chain by bringing in efficiency, transparency and reduction in lead times. This research tries to identify and prioritize the customer requirements and design requirements for effective integration of supply chain through digitalization.
Design/methodology/approach
The key nine customer requirements and 16 design requirements applicable for an electronics company were shortlisted in consultation with the experts from the company and academia. An integrated analytic network process (ANP) and quality function deployment (QFD) methodology has been applied for prioritizing the customer and design requirements. The relative importance and interdependence of these requirements were identified and a House of Quality (HOQ) is constructed.
Findings
The HOQ constructed has prioritized and identified interrelationships among customer requirements and design requirements for effective supply chain digitalization. These findings could be effectively used by managers for planning the objectives on long-term, medium-term and short-term basis.
Originality/value
This study tries to bridge the gap of identifying and prioritizing the design and customer requirements for effective supply chain integration through digitalization. The results could aid practicing managers and academicians in decision-making on supply chain digitalization process.
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Seoyoun Lee, Younghoon Chang, Jaehyun Park, Alain Yee Loong Chong and Qiuju Yin
This study examines how users' multidimensional representational fidelity factors affect sociability and cyberself engagement in the Metaverse platform; that is, how they interact…
Abstract
Purpose
This study examines how users' multidimensional representational fidelity factors affect sociability and cyberself engagement in the Metaverse platform; that is, how they interact with newly defined self-images as their personas in the environments. It investigates how representational fidelity serves platform users to perform social roles and increase their sociability by establishing a new cyberself, thus influencing continuous platform use.
Design/methodology/approach
This study surveyed 314 users of the Metaverse platform Horizon, where users can create a virtual agent avatar, meet people in the same online environment in real time, and interact with a sense of three-dimensional immersion. Data were analyzed using partial least squares regression models.
Findings
User socialization significantly influenced the intention to use the Metaverse platform. Representational fidelity was a crucial variable for sociability, and activity representational fidelity was the most influential aspect among the four other elements. Platforms should consider how to enable users to create and use activities that faithfully represent their personas.
Originality/value
The novelty of this study is that it introduces representational fidelity based on representation theory into the context of virtual persona in the Metaverse platform. This study extended representational fidelity to the socialization perspective by utilizing the integrated model of user satisfaction and the technology acceptance model. Through the results, this study emphasized that users' sociability significantly influences their intention to use the Metaverse platform. Finally, this study provides a feasible guideline on how practitioners could design and strengthen their platforms so that users can represent their cyberselves faithfully.