Business: Theory and Practice

Methodical approach to the choice of a business management strategy within the framework of a change in commercial activities

2024-01-19T10:39:02+02:00

The main purpose of the article is the formation of new strategies in business management with changes in commercial activities. The object of the study is the system of commercial activity and possible changes in it. The scientific task is the definition of a new methodological approach to the formation of new strategies in business management with changes in commercial activity. The research methodology involves the use of a modern method for modeling strategies in business management with changes in business activities. As a result, we presented a methodical approach to the formation of business management strategies in the face of changes in commercial activities. The author’s vision of how the stages of forming the main business management strategy through block-object-oriented modeling should look graphically and schematically was presented. Each of its blocks involves many processions and actions aimed at changes in commercial activity. The innovative novelty of our study lies in the presented methodological approach to the formation of a business management strategy within the framework of changes in commercial activity.

Determinants of ERM quality and its impact on company value

2024-02-05T16:01:58+02:00

Company value results from how well a company has managed its resources to achieve business benefits. However, there are always risks associated with conducting business, and effective risk management (ERM) can help reduce those risks so that they stay in the way of the entity’s performance goals. This study examines the factors that affect ERM quality, such as company size, auditor caliber, concentrated ownership, and director oversight, and how this affect business success. Purposive sampling produced a sample of 552-panel data used in this study’s research of manufacturing firms in Indonesia and Malaysia. With the aid of STATA software, this study discovered a favorable relationship between auditor quality and ERM and also impact firm size, auditor quality, concentrated ownership, and ERM on company value. The expansion test revealed that while the quality of auditors in Malaysian companies had a positive effect on firm value while those in Indonesia did not, and vice versa, the quality of auditors in Indonesian companies had a stronger positive effect on ERM quality than the quality of auditors in Malaysian companies. In contrast to businesses in Malaysia, monitoring of directors has a beneficial impact on a company’s worth in Indonesia.

Integrating sustainable development into their marketing strategy: practices of Lebanese agri-food industries

2024-01-22T09:46:47+02:00

Amidst technological growth and its environmental implications, there’s a global push for sustainable development using ethical methods that benefit both the planet and humanity. This underscores a rising corporate trend towards sustainability. Adopting this approach requires fresh methods and technologies to influence behavior changes. Consequently, marketing, when aligned with sustainability principles, becomes a pivotal tool for businesses transitioning to sustainable practices. The food industry, like other sectors, is not exempt from these considerations. This article focuses on examining how food industries in Lebanon are incorporating sustainable development principles into their marketing strategies. By studying their approaches, we aim to identify the level of integration of sustainability within the marketing practices of these industries, identify gaps, and to bring the future scientific research directions in marketing management. Thus, this research is conducted following the post-positivist paradigm and following a hypothetical-deductive approach. Hence the qualitative research and expert evaluation used to collect data due to its applicability to the context of the study. The target respondents are managers of the agri-food industries in order to measure the good practices of sustainable development of these industries and their Marketing strategy based on the 4Ps. Lebanon’s distinct challenges, from environmental to economic, call for specialized solutions. Achieving sustainability involves grasping local nuances, engaging stakeholders, and connecting different sectors. Sustainable marketing emphasizes local products and community ties, offering potential for significant change. The study indicates agri-food businesses mainly focus on environmental and economic elements. Yet, the research faced hurdles, like the pandemic, highlighting the need for context-awareness.

Systematic review: opportunities and barriers to online marketing caused by the development of the Internet of Things

2024-01-19T10:43:53+02:00

The current research aims to systematically review the impact of the Internet of Things (IoT) on online marketing, focusing on its opportunities and challenges. Using the PSALSAR methodology, this research delves deep into the literature to understand the nature of IoT influences. The analysis reveals that while IoT offers transformative potential for online marketing, it brings with it significant challenges. Among these challenges are concerns about security, consumer perceptions, and sustainability. Furthermore, there is a noticeable gap concerning the quantifiable impact of IoT on B2B online marketing effectiveness and the long-term customer perceptions of IoT-integrated products. The estimation of effects and opportunities as well as a detailed description of challenges is an important step in every technological development.

Assessing the factors impacting shipping container dwell time: a multi-port optimization study

2024-02-07T13:02:31+02:00

Ocean transportation is the most preferred mode of transportation that represents a significant role in the global trade. Ocean transportation comprises around 80% of the aggregate worldwide cargo volume. This research paper focused on evaluating the factors that influence the dwell time of the shipping containers. Dwell time is one of the important port performance parameters which evaluates the time spent by the container in a port. In this research, the data from the fourteen major ports was collected and analysed across the variables, such as cycle, size, mode, status, delivery and tracking technology for evaluating the variation in container dwell time. OLS regression method (Ordinary least squares) along with independent sample T test was adopted for the analysis of 2.8 million container data entries utilizing python for big data analysis and SPSS. For the top three ports with lowest RMSE (Root mean square error), Port A – 15.6 %, Port G – 15.7 % and Port L – 15.86 %, a qualitative study was performed to identify the reasons for the variation in dwell time. The major reasons identified included free days period, trans-shipment port, high rail frequency, industrial hubs in the vicinity of the ports for lower dwell time. A qualitative research framework was presented as the research outcomes and reasons for variations in a multiport study.

Research on consumers’ intended usage of cold chain logistics service through fresh-food apps based on the structural equations model

2024-02-07T18:23:54+02:00

By expanding the theory of planned behavior with Structural Equation Modeling, the objective of the study is to investigate consumer behaviors in the purchasing of fresh food through fresh-food apps and cold chain logistics services usage in Shanghai and Beijing, China. The results showed that the usefulness of the fresh-food apps has a positive impact on consumers’ attitudes to enjoying apps’ cold chain logistics services. However, the ease of use of apps has never had a positive impact on consumers’ attitudes towards enjoying cold chain logistics services. Furthermore, consumers’ attitudes, perceived behavioral control and subjective norm have a positive impact on their intention to use cold chain logistics services via fresh food apps. Findings confirmed that attitude plays a part of mediating role in usefulness and behavioral intention.

Need for relatedness and eating behaviour in millennials

2024-02-22T18:24:11+02:00

This research analyses the moderating effects of the need for relatedness in the relationship between behavioural intention (attitude towards the behaviour, subjective norm behaviour and perceived behavioural control) and self-reported healthy eating behaviour in millennials. A structural equation model was used in a sample of 2380 young people in Colombia and Spain (1190 for each country) considered healthy food consumers. All of them were classified as millennials based on age (25–34). The results show that attitudes towards the behaviour and subjective norm behaviour positively influence self-reported healthy eating behaviour.In contrast, perceived control behaviour does not influence self-reported healthy eating behaviour. The need for relatedness moderates the relationship between behavioural intention (attitude towards the behaviour, subjective norm behaviour and perceived behavioural control) and self-reported healthy eating behaviour. The results suggest that the isolation conditions caused by the pandemic directly affect millennials’ behaviour regarding the consumption of healthy food. This condition affects their lifestyles and preferences associated with consumption.

Still dirty: the effect of global risks and development on foreign direct investment inflow

2024-02-28T18:24:20+02:00

There needs to be more research on the global risks and developmental determinants of foreign direct investment inflow with green investment campaigns. This article presents new evidence covering 116 countries (2018–2020) using least squares regression. We show that ceteris paribus, higher perceived environmental and geopolitical risks are more likely to increase foreign direct investment. We also find that lower business environment, safety and security, and environmental sustainability increase foreign direct investment inflow. Meanwhile, foreign investment inflow increased positively according to price competitiveness, infrastructure quality, and natural resources. One development variable, information, and communication technology readiness, becomes significant when the analysis is performed only on developing countries. Economic risks, societal risks, technological risks, health and hygiene, human resources, and international openness are not significantly affecting investment inflow. An insightful theoretical implication regarding the finding is that some supports exist for the pollution haven hypothesis. Implications for practice include creating supportive policies that appreciate sustainable practices, such that investors are attracted to the country not as opportunistic polluters but as sustainability pioneers.

The influence of personal brand communication on consumers

2024-03-05T18:24:25+02:00

The idea of this research is to combine the influence of personal brand with business needs. This article is a personal brand’s analysis on how personal brand influences consumer interest in products/services. An experiment is carried out on the content viewed by consumers using eye-tracking technology “Neuromarketing & AI LAB” to reveal emotional and structural sensations in the social network Instagram. The aim of this research is to determine the influence of a personal brand on the consumer. Research methodology: analysis of scientific literature, logical definition and theory construction, an experiment: research of human emotions and chosen content. Data analysis method: descriptive statistics and comparative analysis. AOI (heat map) was selected to illustrate the research results. Influencers with up to 100 000 followers were selected – stimuli that trigger or enhance physiological and psychological reactions in the body. It was found that the body and face of a personal brand had the higher influence on consumers. Personal brand attracts consumers’ attention and promotes engagement. The originality and value of the paper: content relevance research of personal brand (identity) influence on consumers in social network Instagram. Further we suggest carrying out similar personal brand’s research choosing other social networks.

Analysis of antecedents and consequences of workplace-related burnout among Croatian employees in the post-COVID-19 era

2024-03-07T18:24:28+02:00

Employee burnout is considered a serious problem in today’s organizations, having severe repercussions both on individual and operational levels. A large number of studies have been conducted to identify antecedents and consequences of burnout but were mostly carried out in medical and other helping professions. This research aims to explore the burnout of employees working in Croatian companies by developing a multidimensional model that explores the influence of three elements that are considered typical features of today’s modern, post-pandemic workplace: information overload, demands at work, and multitasking. In addition, it observes the influence of burnout on employee decision-making style and the moderating effects of information accuracy and time pressure on the burnout-decision-making relationship. A total of 567 employees working in various industries and carrying out different professions completed an online survey, and linear regression analysis was applied to analyze the data. The results confirmed the direct positive effect of information overload and demands at work on burnout and the direct positive effect of burnout on poor decision-making style. This study is one of the first studies conducted in Croatia on employees in the business sector, so it contributes to the field with important theoretical implications and practical and managerial recommendations.

The impact of online learning on business and economics students’ motivation during the Covid-19 pandemic

2024-03-08T18:24:28+02:00

This study aims to contribute to the knowledge about the impact of online education, induced by the Covid-19 pandemic, on the motivation of business and economics students. A survey was conducted with students from three higher education institutions located in Portugal, during the first semester of 2021, and 221 valid answers were obtained. The main contributions are as follows: online learning in the wake of the Covid-19 pandemic decreased students’ motivation, which is contrary to studies on online learning conducted before the pandemic; an association was found between decreased motivation and sharing housing with pets and many people, for which there was no empirical evidence yet; two main determinants of the learning experience that influence students’ motivation were identified, namely decreased learning and increased difficulty of the assessment process.

Assessing the impact of architecture efficiency on the business model competitiveness

2024-03-14T18:24:36+02:00

The purpose of this research is to develop a methodological approach to assessing the impact of the architecture effectiveness of the enterprise business model on the level of its competitiveness. The study methodology suggests the author’s approach to assessing the architecture effectiveness and the level of enterprise competitiveness. The scenario approach was used in order to the evaluate the connection between competitiveness, business model potential and enterprise architecture based on the economic-mathematical method of solving the nonlinear optimization problem through the use of hierarchical synthesis. The study was conducted according to the materials from 15 private clinics in Ukraine. The analysis of the obtained indices of architecture efficiency, competitiveness and potential level of the business model of the private clinics under study was carried out. It is determined that the level and growth rates of the enterprise architecture efficiency of private clinics have significant distinctions, which affect the level of their competitiveness. A group of leading companies in terms of the level of business model potential is singled out based on the definition of the correlation between the level of business model potential and the enterprise architecture efficiency. It is established that the level of business model potential of private clinics is substantially dependent on the level of enterprise architecture efficiency. It is proved that the efficiency of enterprise architecture has a significant influence on the potential and competitiveness of the business model. The novelty of the study consists in the methodological approach to assessing the impact of business model architecture on the level of its competitiveness, taking into consideration the identification of functional rather than strictly parametric correlation between variables. This research can be useful for professionals, scientists and researchers involved in developing and implementing effective business models and designing the enterprise architecture in order to achieve the company’s strategic intentions and to create and maintain competitive market positions.

Unemployment in the regional context in Latvia

2024-03-14T18:24:36+02:00

This paper sets out a methodological framework for identifying and mitigating unemployment problems in different regions. The study is based on the 2020 and 2023 Latvian Unemployment Surveys. The study includes a comprehensive review of the relevant scientific literature, policy and regulatory frameworks, the development of a multilevel research methodology and tools, an analysis of the research results, in-depth discussions of the identified problems in the context of existing scientific knowledge, and a set of key conclusions and proposed measures to address these problems. By structuring the paper in this way, it offers a holistic and systematic approach to understanding and addressing regional unemployment problems. The study contributes to the ongoing dialogue on regional economic disparities and highlights opportunities for more inclusive, sustainable and equitable labour markets.

Interactive role of strategic clarity in the relationship between organizational conflict management and strategic decision quality

2024-03-14T18:24:35+02:00

Different supervision methods usually lead to internal organizational conflicts, especially in a multi-unit organization, such as The Iraqi Ministry of Interior (IMI). In this regard, Successful organizational conflict management (OCM) is fundamentally associated with Strategic Clarity (SC) in addressing such conflicts which is also linked to the Strategic Decision Quality (SDQ). However, the complexity of the abovementioned variables is understudied especially in the governmental security-service sectors. The present study provides a comprehensive analysis of the relationships between OCM, SC and SDQ in the IMI. A questionnaire, prepared for measuring the interactive role of SC in the relationship between OCM and the SDQ, was distributed among leaders and managers of that ministry. It was evident that SC significantly enhances the relationship between OCM and SDQ in the ministry, registering a substantial interactive effect of 0.25. The study concluded that the dimensions of SC amplify the strategic connection between OCM and the high-quality SDQ made by administrative leaders in the ministry. This emphasizes the need for further integration and activation of SC as part of the strategic vision, particularly in security challenges.

The impact of market orientation on marketing performance: exploring the moderating role of competitive advantage

2024-03-18T18:24:39+02:00

This research analyses the influence of market orientation and competitive advantage on MSMEs’ marketing performance, with competitive advantage as a moderating variable. The research methodology employs path analysis using Smart PLS software version 4.0 and involves 397 MSME owners in Jambi City, Jambi Province, Indonesia. The analysis results indicate that market orientation and competitive advantage significantly influence MSME marketing performance. Additionally, competitive advantage moderates, strengthening the relationship between market orientation and marketing performance. These findings have practical implications for MSME owners, suggesting that focusing on developing market orientation and competitive advantage can enhance their marketing performance. Furthermore, this study contributes to the theoretical understanding of factors influencing MSMEs marketing performance and encourages further research on elements that most impact competitive advantage. It also provides recommendations for policymakers to support enhancing MSME marketing performance through various supportive policies. However, this research has limitations, such as the lack of specific elements of market orientation with significant impacts and a need to better understand the moderation mechanism between market orientation and marketing performance through competitive advantage, which could be subjects of future research.

Mapping of organizational democracy: a bibliometric study

2024-03-20T18:24:40+02:00

Social, economic and political developments in the globalising world have necessitated a re-examination of the concept of democracy. The concept of organisational democracy is a process that expresses the inclusion of individuals in the management processes of organisations and allows freedom of expression in organisations. In this study, it is aimed to reveal at which stage the concept of organisational democracy is included in the international literature. In this context, it is desired to evaluate the development stages of the concept in terms of literature and to set an example for future studies by filling the gaps in the literature. In line with the main purpose, 99 publications related to the concept of “organisational democracy” between 1990 and 2023 in the Scopus database were analysed using R Studio and VOSviewer softwares. The analyses were evaluated by considering the studies conducted in the fields of “Social Sciences”, “Business, Management and Accounting” between 1990 and 2023. The concept of organisational democracy is often associated with concepts such as participation, hierarchy, employee participation organizational culture, organizational commitment and communication. As a result, it has been determined that organisational democracy plays a role in the satisfaction of internal stakeholders.

Some factors affecting financial distress in telecommunication companies in Southeast Asia

2024-03-27T18:24:49+02:00

People who have lost their jobs are affected by the Covid-19 epidemic, which lowers demand and prevents them from updating daily used internet services. A company’s deteriorating financial health may be a warning indication of impending financial trouble. With company size serving as a moderating variable, the purpose of this study is to ascertain the impact of earnings management, corporate strategy, the board of directors, and debt asset ratio on financial distress. Ten telecoms businesses in Southeast Asia were the result of the purposive sampling technique from 2013 to 2022. Both logistic regression and moderated regression analysis are used in this study. These findings show how financial hardship simultaneously affects management of earnings, corporate strategy, the board of directors, and the debt asset ratio. However, financial distress is partially impacted negatively by the factors debt asset ratio, board of directors, and earnings management. The business strategy variable is now untouched by financial difficulties. Financial distress is not significantly impacted by company size, which moderating the debt asset ratio from the regression analysis.

The role of adaptive resilience in the relationship between transformational leadership, affective commitment and turnover intention in the post COVID-19 era: a case of Vietnam

2024-04-02T18:24:56+03:00

This study investigates the direct or indirect impact of transformational leadership and adaptive resilience on affective commitment and turnover intention. Qualitative research was conducted to validate the concepts and the research model and quantitative research was carried out to analyze data from 310 employees selected via convenient sampling in Vietnam. The results reveal that transformational leadership does not only directly affect adaptive resilience and turnover intention, but also indirectly and fully affects affective commitment via adaptive resilience, and indirectly and partially affects turnover intention via affective commitment and adaptive resilience. Furthermore, adaptive resilience significantly impacts turnover intention via affective commitment. There is no proof in the research that adaptive resilience directly affects turnover intention. This research has documented valuable experiences related to the adaptive resilience of organizations following social crises in the relationship between leadership and turnover for scholars and managers in the future.

The application of social learning theory in predicting the antecedents of social entrepreneurial intention

2024-04-02T18:24:55+03:00

This study analyzes the influence of self-efficacy, role models, and attitudes toward social entrepreneurship on social entrepreneurial intention. It also examines the moderating role of role models in the relationship between self-efficacy and social entrepreneurial intention. This study uses a structural equation model to test five hypotheses. It relies on primary data collected through questionnaires distributed to 114 students from various Indonesian universities. These respondents, identified through convenience sampling, had all learned social entrepreneurship at their university. This study found that self-efficacy positively affects social entrepreneurial intention; role models also positively influence social entrepreneurial intention and attitude toward social entrepreneurship; and attitude toward social entrepreneurship positively impacts social entrepreneurial intention. Role models do not moderate the relationship between self-efficacy and social entrepreneurial intention. The originality of this research lies in its novel adaptation of social learning theory and social cognitive career theory to understand social entrepreneurial intention. As such, this study adds to the theoretical understanding of social entrepreneurial intention, which has been intensively studied using the theory of planned behavior.

Actualizing the venturing model in Ukraine

2024-04-11T18:25:05+03:00

The financing of innovations is the driving driver of the innovative model of development of any country, and Ukraine in particular. In modern conditions, the importance of venture capital for the economy of Ukraine is growing against the background of reducing alternatives to raising capital for the development of small and high-tech businesses. The reasons for the current state of decline in the innovation and investment process in Ukraine are analyzed and identified. Peculiarities of venture investment in Ukraine are studied. It is determined that the vast majority of venture capital institutions, regardless of their field of activity, are used mainly by large industrial and financial groups to preserve assets and minimize taxation, rather than to finance innovation. The obtained results give grounds for the conclusion that the essence of venture entrepreneurship in Ukraine does not correspond to the American and European models. The current conditions turn venture funds in Ukraine from an instrument of innovative development into a means of making a profit for large financial and industrial groups, which is a hidden reason for slowing down the innovation and investment process. An updated Ukrainian venture model is proposed, taking into account the peculiarities of the economy and a thorough rethinking of the existing structure of venture capital. The introduction of a rational combination of public, private, and research components of the investment process is proposed, i.e. the need to involve universities, scientists, and the scientific elite in the venture industry. It is determined that this model is only one of the components of a comprehensive program to stimulate investment demand, which also includes: ensuring macroeconomic stability; ensuring economic freedom; ensuring economic security; an increase of investment resource; impact on investment propensity; liberalization and development of the financial market; stimulating investment activities through the mechanism of state support for business and science partnerships.

Barriers in adoption of FinTech by street vendors and hawkers in India using interpretive structural modeling

2024-04-25T18:25:20+03:00

The adoption of financial technology (fintech) has the potential to make banking and financial services more accessible and convenient for all, but there are significant barriers preventing the adoption of fintech by street vendors and hawkers in India. This study aims to identify and analyse the barriers to fintech adoption using interpretive structural modelling (ISM). The research identified nine key barriers to fintech adoption, including perceived risk, lack of trust, lack of perceived benefit, social influence, lack of awareness, cash culture, lack of literacy, perceived ease of use, and lack of financial literacy. The study utilizes ISM to develop a hierarchy of these barriers and their interrelationships. The findings suggest that to promote the adoption of fintech, it is essential to build trust and awareness of fintech services through education and out-reach programs. This research provides a comprehensive understanding of the barriers to fintech adoption among street vendors and hawkers in India and offers insights into how these barriers can be overcomed. The study contributes to the development of strategies that can help promote the adoption of fintech among marginalized populations and advance financial inclusion in India.