Abstract
In the age of digitalisation, good governance and management have become even more important for the resilience of organisations. On the organisational level, resilience is mainly seen as the ability to survive and prosper. The resilient structure is assumed to follow the digital ownership strategy, while changes in strategy lead to changes in the chain of command and thus should be followed by a change in culture. Previous research has stressed that ownership strategy is where corporate governance meets strategic management. Furthermore, it has been argued that this is meaningful only for corporations with concentrated ownership. Claiming that all corporate entities need governing, the authors of this chapter study how resilience can be enhanced in the implementation process of ownership strategies by making use of the opportunities offered by digitalisation. This exploratory research is based on action research involving health care organisations from Estonia. The results presented in this chapter are valuable in several ways. By proposing a digital ownership strategy as a substitute for smart contracts, the study adds a new facet to contract theory. An improved understanding of the needed match between organisational core values and individual values may also enhance organisational resilience and success.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Al-Habib, N. M. (2020). Leadership and organisational performance: Is it essential in healthcare systems improvement? A review of literature. Saudi Journal of Anaesthesia, 14(1), 69–76. https://doi.org/10.4103/sja.SJA_288_19
Andreadakis, S. (2011). Towards an enlightened shareholder value: The tension between shareholder and stakeholder models in modern corporate governance. Paper presented at the 8th workshop on corporate governance. Brussels: European Institute for Advanced Studies in Management (EIASM).
Banerjee, S., Wahl, M. F., & Panigrahi, J. K. (2018). Technology, innovation and knowledge transfer: A value chain perspective. International Journal of Mechanical Engineering & Technology (IJMET), 9(1), 1145–1161. Retrieved from http://www.iaeme.com/IJMET/issues.asp?JType=IJMET&VType=9&IType=1
Bashir, I. (2018). Mastering blockchain: Distributed ledger technology, decentralisation, and smart contracts explained (2nd ed.). Packt. Retrieved from www.ebookcentral.proquest.com
Bourne, H., & Jenkins, M. (2013). Organisational values: A dynamic perspective. Organisation Studies, 34(4), 495–514. https://doi.org/10.1177/0170840612467155
Collin, S.-O. Y. (2001). Ownership strategy: A holistic and praxis oriented view on corporate governance. In L. Montanheiro & M. Spiering (Eds.), Public and private sector partnerships: The Enterprise governance (pp. 167–189). Sheffield Hallam University.
Cong, L. W., & Zhiguo, H. (2019). Blockchain disruption and smart contracts. The Review of Financial Studies, 32(5), 1754–1797. https://doi.org/10.1093/rfs/hhz007
Consoli, M. L., & Llamas, J. D. (2013). The relationship between Mexican American cultural values and resilience among Mexican American college students: A mixed methods study. Journal of Counseling Psychology, 60(4), 617–624. https://doi.org/10.1037/a0033998
Delios, A., & Beamish, P. W. (1999). Ownership strategy of Japanese firms: Transactional, institutional and experience influences. Strategic Management Journal, 20(10), 915–933. https://doi.org/10.1002/(SICI)1097-0266(199910)20:10<915::AID-SMJ51>3.0.CO;2-0
Dietrich, E. (2003). Werte und Wertewandel in gesellschaftlichen Transformationsprozessen – Dargestellt am Beispiel Führungskräfte. Zeitschrift für Personalforschung [German Journal of Research in Human Resource Management], 17(4), 473–476. https://doi.org/10.1177/239700220301700428
East. (2020, 10 16). Retrieved from https://www.east.ee/en
Eggerman, M., & Panter-Brick, C. (2010). Suffering, hope, and entrapment: Resilience and cultural values in Afghanistan. Social Science & Medicine, 71(1), 71–83. https://doi.org/10.1016/j.socscimed.2010.03.023
Fenwick, M., McCahery, J. A., & Vermeulen, E. P. (2019). The end of ‘corporate’ governance: Hello ‘platform’ governance. European Business Organization Law Review, 20, 171–199. https://doi.org/10.1007/s40804-019-00137-z
Fisher, D. M., & Law, R. D. (2021). How to choose a measure of resilience: An organising framework for resilience measurement. Applied Psychology, 70(2), 643–673. https://doi.org/10.1111/apps.12243
Freeman, E. R. (2010). Strategic management: A stakeholder approach. Cambridge University Press.
Gerndorf, K. (2006). A process view of organisations: Procedural analysis. Working papers in economics (TUTWPE No 141–144), 19(143), 51–78.
Goran, J., LaBerge, L., & Srinivasan, R. (2017). Culture for a digital age. The McKinsey Quarterly, 2. Retrieved January 16, 2021, from https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/culture-for-a-digital-age
Grant, R. M. (1991). The resource-based theory of competitive advantage: Implications for strategy formulation. California Management Review, 33(3), 114–135. https://doi.org/10.2307/41166664
Hilb, M. (2017). Toward an integrated framework for governance of digitalisation. In M. Hilb (Ed.), Governance of digitalisation: The role of boards of directors and top management teams in digital value creation (pp. 11–21). Haupt Verlag.
International Organization for Standardization. (2017). Security and resilience—organisational resilience—principles and attributes. (ISO Standard No. 22316:2017). Retrieved from https://www.iso.org/obp/ui/#iso:std:iso:22316:ed-1:v1:en
Jonsdottir, G. E., Sigurjonsson, T. O., & Poulsen, T. (2020). Ownership strategy: A governance mechanism for collective action and responsible ownership. Corporate Ownership and Control, 17(3), 34–45. https://doi.org/10.22495/cocv17i3art3
Laloux, F. (2016). Reinventing organisations: An illustrated invitation to join the conversation on next-stage organisations. Nelson Parker.
Licht, A. N., Goldschmidt, C., & Schwartz, S. H. (2005). Culture, law and corporate governance. International Review of Law and Economics, 25(2), 229–255. https://doi.org/10.1016/j.irle.2005.06.005
Luoma, T. (2011). Implementation of an ownership strategy (EIASM 8th workshop on corporate governance). European Institute for Advanced Studies in Management.
North. (2020). Retrieved 10 16, 2020, from https://www.north.ee/en
Parker, G., & Van Alstyne, M. (2018). Innovation, openness, and platform control. Management Science, 64(7), 3015–3032. https://doi.org/10.1287/mnsc.2017.2757
Pichet, E. (2011). Enlightened shareholder theory: Whose interests should be served by the supporters of corporate governance? Corporate Ownership and Control, 8(2–3), 353–362. https://doi.org/10.22495/cocv8i2c3p3
Prenestini, A., & Lega, F. (2013). Do senior management cultures affect performance? Evidence from Italian public healthcare organisations. Journal of Healthcare Management, 58(5), 336–352.
Rogers, P., Bohland, J. J., & Lawrence, J. (2020). Resilience and values: Global perspectives on the values and worldviews underpinning the resilience concept. Political Geography, 83, 1–9. https://doi.org/10.1016/j.polgeo.2020.102280
Rüegg-Stürm, J., & Grand, S. (2021). Managing in a complex world: The St. Gallen management-model (2nd ed.). Haupt Verlag.
Schwartz, S. H. (1992). Universals in the content and structure of values: Theoretical advances and empirical tests in 20 countries. In M. Zanna (Ed.), Advances in experimental social psychology (Vol. 25, pp. 1–65). Academic Press. https://doi.org/10.1016/S0065-2601(08)60281-6
Schwartz, S. H. (2017). The refined theory of basic values. In S. Roccas & L. Sagiv (Eds.), Values and behavior: Taking a cross cultural perspective (pp. 51–72). Springer. https://doi.org/10.1007/978-3-319-56352-7_3
Stark, A. (2014). Bureaucratic values and resilience: An exploration of crisis management adaptation. Public Administration, 92(3), 692–706. https://doi.org/10.1111/padm.12085
Tricker, B. (2015). Corporate governance: Principles, policies and practices (3rd ed.). Oxford University Press.
Vlastarakos, P. V., & Nikolopoulos, T. P. (2008). The interdisciplinary model of hospital administration: Do health professionals and managers look at it in the same way? European Journal of Public Health, 18(1), 71–76. https://doi.org/10.1093/eurpub/ckm042
Wahl, M. F. (2012). Ownership typology: Four basic human values & will based ideal types. Research in Economics and Business: Central and Eastern Europe, 4(2), 61–83. Retrieved from http://www.rebcee.eu/index.php/REB/article/download/38/37
Wahl, M. F. (2015). Strategic audit and ownership strategy. International Journal of Business and Social Research, 5(9), 93–100. https://doi.org/10.18533/ijbsr.v5i9.838
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy: Globalisation, innovation and sustainability (15th ed.). Pearson Education Limited.
Zhang, W., Levenson, A., & Crossley, C. (2015). Move your research from the ivy tower to the board room: A primer on action research for academics, consultants, and business executives. Human Resource Management, 54(1), 151–174. https://doi.org/10.1002/hrm.21616
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Appendix: Schwartz Portrait Values Questionnaire (PVQ)
Appendix: Schwartz Portrait Values Questionnaire (PVQ)
How much like you is this person?
-
1.
very much like me,
-
2.
like me,
-
3.
some-what like me,
-
4.
a little like me,
-
5.
not like me,
-
6.
not like me at all.
Q1: Thinking up new ideas and being creative is important to him. He likes to do things in his own original way.
Q2: It is important to him to be rich. He wants to have a lot of money and expensive things.
Q3: He thinks it is important that every person in the world should be treated equally. He believes everyone should have equal opportunities in life.
Q4: It is important to him to show his abilities. He wants people to admire what he does.
Q5: It is important to him to live in secure surroundings. He avoids anything that might endanger his safety.
Q6: He likes surprises and is always looking for new things to do. He thinks it is important to do lots of different things in life.
Q7: He believes that people should do what they are told. He thinks people should follow rules at all times, even when no-one is watching.
Q8: It is important to him to listen to people who are different from him. Even when he disagrees with them, he still wants to understand them.
Q9: It is important to him to be humble and modest. He tries not to draw attention to himself.
Q10: Having a good time is important to him. He likes to “spoil” himself.
Q11: It is important to him to make his own decisions about what he does. He likes to be free and not depend on others.
Q12: It is very important to him to help the people around him. He wants to care for their well-being.
Q13: Being very successful is important to him. He hopes people will recognise his achievements.
Q14: It is important to him that the government ensures his safety against all threats. He wants the state to be strong so it can defend its citizens.
Q15: He looks for adventures and likes to take risks. He wants to have an exciting life.
Q16: It is important to him always to behave properly. He wants to avoid doing anything people would say is wrong.
Q17: It is important to him to get respect from others. He wants people to do what he says. It is important to him/her to be in charge and tell others what to do. He/She wants people to do what he/she says.
Q18: It is important to him to be loyal to his friends. He wants to devote himself to people close to him.
Q19: He strongly believes that people should care for nature. Looking after the environment is important to him.
Q20: Tradition is important to him. He tries to follow the customs handed down by his religion or his family.
Q21: He seeks every chance he can to have fun. It is important to him to do things that give him pleasure.
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Wahl, M.F., Durst, S. (2022). Digital Ownership Strategies: The Health Care Services Case. In: Matos, F., Selig, P.M., Henriqson, E. (eds) Resilience in a Digital Age. Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-030-85954-1_9
Download citation
DOI: https://doi.org/10.1007/978-3-030-85954-1_9
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-85953-4
Online ISBN: 978-3-030-85954-1
eBook Packages: Business and ManagementBusiness and Management (R0)