Foresight and STI Governance, 2023 (3) en-us Copyright 2023 Tue, 12 Sep 2023 18:26:45 +0300 Preparing for the New Paradigm of Business: The Metaverse The objective of this study is to explore the challenges and changing needs of companies in the age of the metaverse and its implications for business. It used a qualitative research methodology and is based on a review of the emerging academic discourse on metaverse and also on semi-structured interviews with corporate experts. The study found the various aspects of the metaverse that may affect business organizations, namely strategic aspects, technological aspects, human resource-related aspects, legal aspects, and ethical aspects. The study highlights the need for organizations to be flexible and adapt quickly to future unpredictable developments in the age of the metaverse. It accentuates the fact that the companies would be required to devise new marketing, e-commerce, and human resource strategies for taking advantage of the business opportunities presented by the metaverse. It also has important implications for policymakers as it highlights the legal and ethical aspects of the metaverse that may affect business and society in the future. The current study has laid the foundation for further research on the metaverse as a new paradigm of business. Assessment of Interorganizational Technology Transfer Efficiency In this paper we propose a methodology for assessing the efficiency of technology transfer through merger and acquisition (M&A) and empirically estimate the effect of key factors impacting it. We implement data envelopment analysis (DEA) to calculate an efficiency score of the technology transfer process. The DEA efficiency score integrates a set of outputs (post-merger characteristics of an acquirer) and inputs (pre-merger technological parameters of a target); thus, it provides a multidimensional estimate of efficiency adjusted for the value of the acquired technology base.In the empirical part of this research, we collect data from 434 M&As to study a channel for transferring a technology base across organizational boundaries. Overall, empirical results suggest the adverse outcomes of accumulation of capability to value external technology: the higher the acquirer’s R&D intensity, the lower the efficiency of interorganizational technology transfer. The size of acquirer and relative size of the deal also affect the post-merger outcomes significantly and negatively. At the same time, the estimated effect of such technological characteristics of acquirer as capital expenditure intensity and number of patents is insignificant. The Impact of Consumer Culture on Innovation Adoption in Developing Countries There is limited research on the factors that influence people’s continued use of mobile payments in developing countries, and it is likely that these factors vary from country to country. This study aims to explore how the factors affecting the continued use of mobile payments differ between Jordan and India, using the Unified Theory of Acceptance and Use of Technology (UTAUT2) as a framework. Additionally, this study extends the UTAUT2 model by including other factors such as trust, advertising value, payment culture, awareness, smartphone experience, and satisfaction. The study employs the fuzzy Analytic Hierarchy Process (AHP) approach to rank the factors that affect the intention to continue using mobile payments. The results suggest that price value and payment culture have the greatest influence on both Jordanian and Indian perceptions. Furthermore, habit was found to be the third most important factor affecting Jordanian perceptions, while smartphone experience was the third most significant factor affecting Indian perceptions. Modeling Challenges for Building Technological Capacities to Achieve Sustainability in the Food Industry The food industry plays a key role in the economy. The high potential of this field and its contribution to sustainable development is revealed by being well equipped with advanced production and management technologies. In developing countries, including India, the sector is insufficiently focused on building this capacity and harnessing its effects for progress.The saturation of the economy with innovation and communication diversity gives it increased complexity, non-linearity, interconnectedness and interdependence. Such synergy has two poles. With proper management and holistic coverage of complex systems, it generates a cascade of self-reinforcing positive development processes. However, in their absence, there are large-scale problems that hinder the transition to a «green» model of development, which is especially relevant for the agricultural sector as one of the main pollutants of the environment and the triggers of climate change.  The article analyzes the relationship between the complex problems, assessing their strength of influence, the degree of dependence on other factors. It reveals the «points of application» of efforts, the work with which will launch self-organizing processes, allowing to eliminate other barriers to the goals of sustainable development. New Governance Approaches to Prevent the Collapse of Complex Socioeconomic Systems Modern socio-economic and technological systems are constantly becoming more complex, and as a consequence, the risks of their failures are increasing. Effective management requires tools appropriate to the new challenges. Complexity science offers a number of concepts that individually help to cope with increasing complexity and its effects to a greater or lesser extent. However, a more effective approach is their skillful synthesis, which allows to cover the system holistically, to identify the origin of potential crises and catastrophes that would otherwise remain «hidden», and to outline preventive corrective measures. The article presents a review and comparative characterization of paradigms of perception of complex systems extrapolated to the sphere of management. Using multilayer causal analysis, the case of two high-profile disasters that occurred with Boeing airplanes is considered. The concept of «orphan systems» is proposed, which allows to catch weak signals about the dangerous drift of the system, to react in time and take an appropriate managerial actions. Risk Management Strategies for the Banking Sector to Cope with the Emerging Challenges The banking industry is facing unprecedented challenges, including cybersecurity threats, the need for rapid technology upgrades, a high degree of uncertainty, aggressive entry of technology giants into the financial market, and others. Like most traditional sectors, banks are trying to keep up with the pace of change, monitor emerging risks, and adjust their development strategies. The article analyzes the emerging trends for the banking sector globally and, in particular, in the context of Israel. Interviews with representatives of the most influential national banks formed the information basis of the study. Shifts in corporate strategies, requests for new business models and «working with the future» were identified. The results emphasize the importance of an integrated, holistic approach to risk management and may be useful for banks not only in Israel, but also in other countries and regions. Conceptual Frameworks of Strategic Management Plentiful works have been devoted to theories and practices of business management, but comparative studies of their advantages and limitations are rarely carried out. In an attempt to fill this gap, the article provides a systematic analysis of management concepts that have gained the major attention in recent years. The search was carried out using the Web of Science database. Ten theories were selected and analyzed in detail, which are the considered most frequently within selected body of articles. The spheres of their application, advantages and limitations, connections between them are indicated. This study deepens the understanding of the theories of entrepreneurship management and shows which of them are the most prolific for improving the efficiency and competitiveness of enterprises and shaping their strategic vision of the future. Directions for further research are shown to overcome the limitations of the presented concepts. Cybersecurity and Strategic Management Against the backdrop of rapidly evolving technologies and increasingly complex communications networks, cybersecurity is becoming a key aspect of strategic planning. Protecting information, financial, reputational and other assets from increasingly frequent and sophisticated cyberattacks depends on the ability to develop and continually update a comprehensive, proactive approach that takes into account a wide range of factors. The state of national cybersecurity has become one of the key indicators of the level of development along with «classic» indicators (GDP, etc.). The recently emerged research area of «cybersecurity economics» is constantly being enriched with new knowledge and approaches.The article analyzes the risks to the cybersecurity system at different levels and the main measures to strengthen it, and assesses the dynamics of management trends. Key competencies relevant for professionals in this field are outlined.