Browsing: O3

Introduction. A study is being conducted using the data provided by the European Bank for Reconstruction and Development through the Business Environment and Enterprise Performance Survey (BEEPS) database for Romania in the year 2012. At industry level, companies’ innovative behavior is unclear, but after grouping them into low-tech and high-tech industries, results have become more robust, respectively, in high-tech industries, there is an average of more product or process innovations. An interesting observation is that the percentage of adopting organizational innovations remains constant for both low-tech and high-tech industries. An interpretation related to the long term competitive innovative behavior is that by product and process innovation, the firm has a strategic vision and will have a constant process of structural organization.

Aim of the study. The aim of this article is to study the relationship between the type of industry and the rate of adoption of product innovation, process innovation and organizational innovation. In the traditional approach, being innovative is only effective in the short run because competition will begin to imitate that innovation. In an alternative approach, there is a distinction between innovative and non-innovative firms. We tried to capture this process by making two groups of industries: low-tech industries and high-tech industries. If they seek to be competitive in the long run, innovative firms are strategically proposing to adopt new technologies and to innovate in product, process or internally in the organization.
Keywords: product innovation, process innovation, organizational innovation, low-tech, high-tech.
JEL Classification: L0, O3, M2

Introduction. China and Japan respectively are two such countries that have taken the original concept of crowdfunding and evolved it distinctly within their own cultural spheres. To research into this subject, existing articles about crowdfunding in these respective countries were reviewed extensively and compared to existing standards in the West. At the same time, newer practices employed for Asian crowdfunding that evolved nationally has been migrated and integrated in their international interactions, which may or may not be in concordance with existing crowdfunding forms. From the results we know that the most prevalent form of Western crowdfunding is reward-based, and as such strategies have evolved to increase the project-makers’ chances of a successful crowdfunding campaign or project. However, in Asian countries this is not the general case, where donation-based crowdfunding and other forms such as crowdlending and equity-based crowdfunding are more relevant. To fulfil its purpose, the article tries to bring forward from Asia the new and intriguing, yet successful practices of crowdfunding that have emerged and evolved distinctly in their domain. It also leaves the door open for such practices to be replicated in the West.

Aim of the study. The objective of this article is to look at how crowdfunding has evolved around where it is likely to go. If we treat the most prevalent information from the West as the global standard, we may miss the new intriguing trends that arise from other areas in the world.
Keywords: crowdfunding, strategies, Flash-Sale, funding lifecycle, risk-reduction
JEL Classification: M13, O3, O31, O32