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The purpose of this article is to review the emerging research on entrepreneurial ecosystem and to guide future research into this promising area. The study presents a critical review on the entrepreneurial ecosystem, starting from its very definition and antecedents. Combining prior research with building on the main concepts that constitute an entrepreneurial ecosystem, we have developed an original set of guidelines that can help scholars and practitioners seeking an answer to the following pressing question: “How can we gain a comprehensive understanding of an entrepreneurial ecosystem?”. We will then discuss the opportunities for expanding our current knowledge on entrepreneurial ecosystems and describe the current debates and directions for future research. Lastly, we will provide guidelines that policymakers may take into consideration when designing and issuing support measures to promote entrepreneurship in their local ecosystems.

Firms often aim to develop markets as part of their long-term strategies. Conventionally, research in marketing has explained this complex process by stressing firms’ efforts to outdo their peers. While this emphasis is valuable, it overlooks the role of another major force in market evolution: collective action among peer firms. To address this oversight, this article conceptualizes “collaborative market driving,” defining it as the collective strategy in which peer firms consistently cooperate among themselves and with other actors to develop markets in ways that increase their overall competitiveness. This conceptualization includes the triggers that lead peer firms to mobilize for collective action and coalesce with other market actors; it also identifies how this coalition converts collective resources into market-driving power. These theoretical contributions, based on a multimethod analysis of the rise of U.S. craft breweries, offer an alternative course of action for firms interested in driving new markets when they lack adequate resources to do so individually.

This article reviews the rapidly growing domain of global value chain (GVC) research by analyzing several highly cited conceptual frameworks and then appraising GVC studies published in such disciplines as international business, general management, supply chain management, operations management, economic geography, regional and development studies, and international political economy. Building on GVC conceptual frameworks, we conducted the review based on a comparative institutional perspective that encompasses critical governance issues at the micro-, GVC, and macro-levels. Our results indicate that some of these issues have garnered significantly more scholarly attention than others. We suggest several future research topics such as microfoundations of GVC governance, GVC mapping, learning, impact of lead firm ownership and strategy, dynamics of GVC arrangements, value creation and distribution, financialization, digitization, the impact of renewed protectionism, the impact of GVCs on their macro-environment, and chain-level performance management.

Purpose Building on recent smart hospitality systematic reviews and extensive literature analyses, this paper aims to explore recent developments, themes and issues within smart hospitality. It synthesises existing knowledge, extrapolating forward and contributes to the future development of smart hospitality by serving as a reference to enrich academic/industry discussions and stimulate future research. Design/methodology/approach The research examined 8 recent review articles on smart hospitality and tourism and extracted 145 articles in peer-reviewed sources from Web of Science focussed on smart hospitality. These publications supported in-depth analysis to explore the body of knowledge and develop foresight for the future of smart hospitality within business ecosystems at tourism destinations. It synthesises knowledge and provides the basis for the development of a comprehensive in-depth research agenda in smart hospitality innovations as well as the formulation of agile hospitality ecosystems. Findings This paper illustrates that smart hospitality introduces disruptive innovations that affect the entire hospitality ecosystem. Smart hospitality takes advantage of smart cities and smart tourism towards establishing agile business ecosystems in networked destinations. Having reviewed the existing literature, the study developed a conceptual framework and introduced a comprehensive future research agenda. This includes the drivers of smart hospitality, namely, customer-centricity, personalisation, individualisation and contextualisation; marketing-driven hospitality excellence and metaverse; as well as operation agility, asset strategy, talent management and supplier interoperation. It also identified the foundations that provide the infostructure for smart hospitality, including ambient intelligence, big data, processes and sustainability, providing the capability blocks to co-create value for all stakeholders in the hospitality ecosystem. Originality/value This study conceptualises smart hospitality as a disruptive and innovative power that will affect the competitiveness of hospitality and tourism organisations as part of a comprehensive ecosystem. It identifies the key stakeholders and explores how they can take advantage of emerging developments. This paper proposes the drivers and foundation for future research on smart hospitality. The research provides a conceptual synthesis of the literature and the concepts that have been elaborated. The foundations are effectively the infostructure that enables the drivers to add value to different stakeholders. Key issues are identified to stimulate further research on the area to support smart hospitality development and adoption.

We model the production of complex goods in a large supply network. Each firm sources several essential inputs through relationships with other firms. Individual supply relationships are at risk of idiosyncratic failure, which threatens to disrupt production. To protect against this, firms multisource inputs and strategically invest to make relationships stronger, trading off the cost of investment against the benefits of increased robustness. A supply network is called fragile if aggregate output is very sensitive to small aggregate shocks. We show that supply networks of intermediate productivity are fragile in equilibrium, even though this is always inefficient. The endogenous configuration of supply networks provides a new channel for the powerful amplification of shocks.

The Cultural and Creative Industries (CCI) thrive on innovation and creativity, necessitating robust cross-domain collaboration among diverse stakeholders. However, the current state of CCI co-creation mechanisms is marked by inadequacies. The primary objective is to provide practical and effective strategic guidance for co-creation endeavors within the dynamic CCI landscape. This study employs the Root Cause Analysis (RCA) method to identify and analyze critical elements for industrial co-creation, offering a comprehensive framework for understanding the intricacies of co-creation processes. The Cultural and Creative Industries Digital Business Ecosystem (CCI-DBE) model is then developed to encompass four foundational pillars: participation of multiple stakeholders, mechanism of co-creation, uniqueness of consumer experience, and output of co-created value. Participation of multiple stakeholders recognizes the importance of integrating perspectives from content creators, other companies, suppliers, and customers. The mechanism of co-creation delves into the necessity of a robust platform, supported by technological infrastructure, to facilitate seamless resource and knowledge exchange. The uniqueness of consumer experience emphasizes the need for tailoring offerings to meet consumers' unique experiential and meaningful needs. Output of co-created value focuses on enhancing product novelty, resource sharing, communication efficiency, information interaction, and cross-domain integration. This CCI-DBE model not only contributes to academic discourse but also provides actionable insights for practitioners seeking to navigate and enhance the co-creation process within the evolving CCI landscape. It stands as a valuable guide for fostering innovation, collaboration, and strategic alignment in the CCI sector.

Platforms have evolved beyond just being organized as multi-sided markets with complementors selling to users. Complementors are often unpaid, working outside of a price system and driven by heterogeneous sources of motivation—which should affect how they respond to platform growth. Does reliance on network effects and strategies to attract large numbers of complementors remain advisable in such contexts? We test hypotheses related to these issues using data from 85 online multi-player game platforms with unpaid complementors. We find that complementor development responds to platform growth even without sales incentives, but that attracting complementors has a net zero effect on on-going development and fails to stimulate network effects. We discuss conditions under which a strategy of using unpaid crowd complementors remains advantageous.

This article examines whether firm-level idiosyncratic shocks propagate in production networks. We identify idiosyncratic shocks with the occurrence of natural disasters. We find that affected suppliers impose substantial output losses on their customers, especially when they produce specific inputs. These output losses translate into significant market value losses, and they spill over to other suppliers. Our point estimates are economically large, suggesting that input specificity is an important determinant of the propagation of idiosyncratic shocks in the economy.

Production processes are fragmenting across borders with countries trading tasks rather than products. Export statistics based on value added reveal a process of vertical specialisation. Yet, what do countries do when exporting? In this article, we provide novel evidence on functional specialisation (FS) in trade. We find surprisingly large and pervasive heterogeneity in specialisation across countries. A positive (negative) correlation between GDP per capita and specialisation in R&D (fabrication) functions is documented. Specialisation in management and marketing functions is unrelated to income. We show how our approach can be easily extended to study FS in trade at the sub-national level. We argue that this is needed to better understand the potential for regional development under global integration.

For a period starting in 2015, Apple, Google, and Microsoft became the most valuable companies in the world. Each was marked by an external developer ecosystem. Anecdotally, at least, developers matter. Using a formal model of code spillovers, we show how a rising number of developers can invert the firm. That is, firms will choose to innovate using open external contracts in preference to closed vertical integration. The locus of value creation moves from inside the firm to outside. Distinct from physical goods, digital goods afford firms the chance to optimize spillovers. Further, firms that pursue high risk innovations with more developers can be more profitable than firms that pursue low risk innovations with fewer developers. More developers give platform firms more chances at success. Our contribution is to show why developers might cause a shift in organizational form and to provide a theory of how platform firms optimize their own intellectual property regimes in order to maximize growth. We use stylized facts from multiple platform firms to illustrate our theory and results.