Guest editorial: Innovation, entrepreneurship and knowledge

Synopsis of the articles

In the first article, Mao, H. and Ostaszewski, K. focus on the optimal design of reinsurance contracts. A substantial body of research literature exists concerning the optimal design of an insurance contract, in general, but most of this research seeks optimisation from the perspective of the purchaser of insurance (which for a reinsurance contract would be the original insurer, i.e. the ceding company). In this work, instead, mutual benefit of both the ceding company and the reinsurer are considered in an integrated model. The paper presents an optimal contract design and pricing of the contract, obtained via numerical optimisation. The model is also applicable to optimal design of a regular insurance contract, as a consumer seeking insurance also retains some risk, in a manner similar to an insurance company seeking reinsurance. The complexity of the model prevents obtaining a closed form solution, and only numerical optimisation results are obtained. However, the procedure presented may be applicable in real world applications, and further research on simplified solutions is possible and suggested. They note that in view of governments resolving recent financial crises in a manner analogous to acting as a reinsurer of last resort, the model may be applicable to optimal design for public policy aimed at the best possible approach to resolving financial crises.

In the second scientific contribution, Samagaio, A. and Felício, T. identify internal audit as a key element of corporate governance, which allows an accurate picture of organisations to be assessed and to take actions to improve their efficiency and effectiveness. The quality of internal audits is influenced by characteristics of the organisation itself, but also by internal auditors' individual factors, as how they perceive the support of the organisation or their risk profile, among others. This paper focuses on some of these characteristics to analyse their impact on internal audit quality, measured by reduced audit quality practices (RAQP). This study found some relations between some of these variables on internal audit quality. Therefore, theoretically this paper contributes to the stream of research regarding the determinants of internal audit quality, a topic with few studies, to evidence the factors that shape the effectiveness of the internal audit function, focus on the internal auditor perspective, a current of research that has been little observed in the literature and emphasise the relevance of researchers also focussing on internal auditors' ethical skills. Methodologically, the authors developed a literature-based scale to measure RAQP. By showing that the auditors recognise RAQP, this study contributes to practice by highlighting the importance of quality assurance in these departments, showing which variables affects RAQP and to evidence the relevance of the Audit Committee to the improvement of internal audit quality.

In the third paper, Hebles, M., Yániz-Álvarez-de-Eulate, C. and Villardón-Gallego, L. analyse best practices in the actual implementation of debriefing in organisations, using the guidelines set out in the procedure as criteria. The aim of the method is to improve performance and learning through feedback and consists of three phases: (1) reflection; (2) data review and information exchange; and (3) goal setting and action planning. To develop the research, a debriefing session was observed in different organisations and four categories related to debriefing were identified and characterised: self-analysis, debriefing, planning and team development orientation. This research has different implications for business leaders, and the authors recommend the appropriate use of debriefing in organisational settings, as it can have a positive impact on both team effectiveness and team members' ability to work as a team.

In the fourth paper, Rios Romero, M.J. et al. present an innovative model for assessing the brand equity of NGOs based on the donors' perspective. The objective is to propose a novel donor-based brand equity model that takes into consideration the special characteristics that donors confer to NGOs that demand higher moral capital. The proposed model includes three dimensions: familiarity (recall, brand strength, brand identification), associations (authenticity, reputation, differentiation) and commitment (attitudinal, emotional) which differ from those used in previous models of brand equity for NGOs and consumers. For the research, they developed a questionnaire distributed online with 131 valid responses. The analysis is carried out using the partial least square (PLS) method. As a result, these academics highlight that due to the increased competition for donations, it is essential for NGOs to have a strong brand to improve the attractiveness of NGOs to donors and to promote increased donations and donor engagement. This model can be useful for NGOs when planning marketing strategies to strengthen their NGO's brand equity.

In the fifth research article, Lucero-Romero, G. and Arias-Bolzmann, L.G. position mindfulness as a key element for decision-making in today's uncertain environments. This study experimentally determines the degree of influence that mindfulness training has on the learning ability of graduate students from a university. The research was carried out in the context of the COVID-19 pandemic, so it was also possible to evaluate the behaviour of alternative teaching-learning systems, online and hybrid, and contrast them with face-to-face mechanisms. The main contributions are the following. First, since previous research has been mostly observational or relational in nature, a quasi-experimental methodology was applied here to establish possible causal relationships between the application of mindfulness and the effect studied. Second, various practical consequences were identified within postgraduate university environments that guided students, teachers and administrative staff to optimise their performance within training programmes and academic interactions. Thirdly, the involvement of the participants in reflection, learning and understanding of the importance of perfecting soft skills to facilitate the teaching-learning processes and face the uncertain living conditions of this century is promoted. Fourthly, it was verified that the application of an unconventional mechanism such as mindfulness to promote the teaching-learning processes generates important benefits not only for the students involved in the study but for the entire university community. Finally, the need for companies to have collaborators with solid technical and human skills is met, which benefits society as a whole.

The sixth paper, by Beccarello, M. and Di Foggia, G., frames the relevance of the scale and scope of the business models used in municipal solid waste (MSW) management. The authors compare the efficiency of different MSW management models in Italy. Data from the municipal waste cadastre of the Italian National Institute for Environmental Protection (ISPRA), as well as data available from the public balance sheets of the city of Milan, were used for the analysis. The aim of the study is to examine the factors affecting the efficiency of MSW management, either through a single contractor or through multiple suppliers. As a main result, they conclude that the allocation of MSW management to a single contractor may be more cost-efficient due to organisational issues and transaction costs. The scale of service and operational issues were found to be important factors in the optimisation of MSW management service costs. As a novelty, these authors have analysed and tested the same hypothesis under different conditions, often neglected in previous studies on efficiency MSW management.

In this framework, these contributions provide new ideas and solutions essential for organisational and societal progress and management. These results offer valuable insights to researchers, practitioners and policy makers who seek to understand and improve organisational performance, support the conscious use of resources and mitigate negative impacts on society.

Conclusions

From a global perspective, the articles in this special issue illustrate the role of knowledge management and innovation in various geographical and organisational contexts. In conclusion, the special issue highlights the relevance of adapting organisations to the trends and demands of today's society, taking into account the changing needs in terms of technology and training. Thus, this research provides a better understanding of some of the major issues in today's world by providing detailed and rigorous information. Moreover, the results provided by the authors allow the information provided to be used for decision-making in changing environments. In short, it will be essential to take these approaches into account in order to promote conscious management of organisations.