Generolo Jono Žemaičio Lietuvos karo akademija

Within the context of the increasing digitalisation and intertwining cyber and physical dimensions connected by Internet, the paper aims at contributing towards understanding and conceptualising extent and scope of design integration for smart production and services and value generation for smart society including enterprises, customers and end-users. Research on design integration within the industry 4.0 or “internet of things” phenomena from strategic management perspective is still marginalised. Concepts from strategic and innovation management as well as open innovation including design and industry 4.0 perceptions are linked to propose a practice-oriented design integration approach for business practices in developing and exploiting new products or services in industry 4.0 context. The paper proposes conceptual approach to design integration and implementation within product or process development processes leading towards valuable innovations on corporate and societal level. It exemplifies how smart digitalisation and new enabling technologies might generate innovations driven by design as a tool and process. Design’s role is demonstrated by intertwining dimensions of information, knowledge, technology, communication and society with different players and stakeholders, who share production or service inputs and outputs between different stakeholders in an open, distributed and co-existing way at different spatial and temporal scale.

The banking and finance sector is one of the most dynamic sectors that is continuously experiencing most of structural changes. Fast consolidation and concentration of banks globally has evoked active discussions on behalf of scientists and practitioners on the effect gained from concentrating on the efficiency and competitiveness of the banking system, financial and microeconomic stability of countries and economic development. Mergers and acquisitions of the banking sector are mostly encouraged by the target to get more authority in the international banking environment, to eliminate competitors from profitable activity and to strive for additional financial benefit for shareholders, to increase the range of the services provided, to use the resources efficiently, i. e. to create the value for shareholders and to contribute to the development of the financial sector. Therefore, the article analyses the bank mergers and acquisitions of the Lithuanian banking sector; it is assessed whether the bank mergers have created the value for shareholders and (or) the financial system. The research that has been carried out shows that mergers and acquisitions of the banking sector are take placing in order to increase the benefit for shareholders and to strive for the economy; the aspect of financial stability of such transactions appears in a short term and is most commonly inspired by the government. Modern Lithuanian banking sector has been formed by means of mergers and acquisitions; strategic investors helped transitive economy countries to guarantee the stability of the banking sector and to achieve the benefit of the economy of scale. Restructuring of the banking activities, i. e. the performance distribution can be a useful measure in ensuring stable activities of both the financial system and the accepting bank – to acquire a market share and to optimise its performance.