Search results for: business data

Authors: Allmin Susaiyah, Aki Härmä, Milan Petković

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Automatic generation of insights from data using insight mining systems (IMS) is useful in many applications, such as personal health tracking, patient monitoring, and business process management. Existing IMS face challenges in controlling insight extraction, scaling to large databases, and generalising to unseen domains. In this work, we propose a hybrid approach consisting of rule-based and neural components for generating insights from data while overcoming the aforementioned challenges. Firstly, a rule-based data 2CNL component is used to extract statistically significant insights from data and represent them in a controlled natural language (CNL). Secondly, a BERTSum-based CNL2NL component is used to convert these CNLs into natural language texts. We improve the model using task-specific and domain-specific fine-tuning. Our approach has been evaluated using statistical techniques and standard evaluation metrics. We overcame the aforementioned challenges and observed significant improvement with domain-specific fine-tuning.

Keywords: data mining, insight mining, natural language generation, pre-trained language models

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Authors: Gulbakhyt Sultanova

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Business education institutions assess the progress of their students by giving them grades for courses completed and calculating a Grade Point Average (GPA). Whether the participation in these courses has led to the development of competences enabling graduates to successfully compete in the labor market should be measured using a new index: Employment Readiness Assessment (ERA). The higher the ERA, the higher the quality of education at a business school. This is applied, empirical research conducted by using a method of linear optimization. The aim of research is to identify factors which lead to the minimization of the deviation of GPA from ERA as well as to the maximization of ERA. ERA is composed of three components resulting from testing proficiency in Business English, testing work and personal skills, and job interview simulation. The quality of education is improving if GPA approximates ERA and ERA increases. Factors which have had a positive effect on quality enhancement are academic mobility of students and staff, practical-oriented courses taught by staff with work experience, and research-based courses taught by staff with research experience. ERA is a better index to measure the quality of business education than traditional indexes such as GPA due to its greater accuracy in assessing the level of graduates’ competences demanded in the labor market. Optimizing the educational process in pursuit of quality enhancement, ERA has to be used in parallel with GPA to find out which changes worked and resulted in improvement.

Keywords: assessment and evaluation, competence evaluation, education quality, employment readiness

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Authors: Takashi Nakamura

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In the Tokyo metropolitan area, traffic congestion and long commute times are caused by overconcentration in the central area. To resolve these problems, a core business city development policy was adopted in 1988. The core business cities, which include Yokohama, Chiba, Saitama, Tachikawa, and others, have designated business facilities accumulation districts where assistance measures are applied. Focusing on Yokohama city, this study investigates the trends in the number of offices, employees, and commuters at 2001 and 2012 Economic Census, as well as the average commute time in the Tokyo metropolitan area from 2005 to 2015 Metropolitan Transportation Census. Surveys were administered in 2001 and 2012 Economic Census to participants who worked in Yokohama, according to their distribution in the city's 1,757 subregions. Four main findings emerged: (1) The number of offices increased in Yokohama when the number of offices decreased in the Tokyo metropolitan area overall. Additionally, the number of employees at Yokohama increased. (2) The number of commuters to Tokyo's central area increased from Saitama prefecture, Tokyo Tama area, and Tokyo central area. However, it decreased from other areas. (3) The average commute time in the Tokyo metropolitan area was 67.7 minutes in 2015, a slight decrease from 2005 and 2010. (4) The number of employees at business facilities accumulation districts in Yokohama city increased greatly.

Keywords: core business city development policy, commute time, number of employees, Yokohama city, distribution of employees

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Authors: M. Graus, K. Westhoff, X. Xu

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The climate change causes a change in all aspects of society. While the expansion of renewable energies proceeds, industry could not be convinced based on general studies about the potential of demand side management to reinforce smart grid considerations in their operational business. In this article, a procedure model for a case-specific data-driven decision support for industrial energy management based on a holistic data analytics approach is presented. The model is executed on the example of the strategic decision problem, to integrate the aspect of renewable energies into industrial energy management. This question is induced due to considerations of changing the electricity contract model from a standard rate to volatile energy prices corresponding to the energy spot market which is increasingly more affected by renewable energies. The procedure model corresponds to a data analytics process consisting on a data model, analysis, simulation and optimization step. This procedure will help to quantify the potentials of sustainable production concepts based on the data from a factory. The model is validated with data from a printer in analogy to a simple production machine. The overall goal is to establish smart grid principles for industry via the transformation from knowledge-driven to data-driven decisions within manufacturing companies.

Keywords: data analytics, green production, industrial energy management, optimization, renewable energies, simulation

Procedia PDF Downloads 435

Authors: Omolade Adeleke, Jonathan Olusegun Famoroti

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This study empirically examined the monetary policy and economic growth in the classical cycles in 8 member countries of the West African Economic and Monetary Union (WAEMU), using the Markov switching model for the Two-phase Regime, covering the period 1980Q1 to 2020Q4. Our estimates suggest that these countries demonstrate to have similar business cycles, and the economies stay more in an expansion regime than a recession regime. The result further shows that the union has an average duration period of 3.1 and 15.9 quarters for contraction and expansion periods, respectively. The business cycle duration, on average, suggests 19 quarters, varying from country to country. Therefore, the formulation of policies that can enhance aggregate demand by member countries in the union is an antidote for recession and is necessary to drive the economy into equilibrium. Also, a low-interest rate and reduced inflation rate would ginger long-run economic growth.

Keywords: monetary policy, business cycle, economic growth, Markov switching

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Authors: Edi Artono, Budi Tamtomo, Gema Wahyudi Purnama

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The world energy demand increasing extreamly high time by time, including domestic demand. That is impossible to avoid because energy a country demand proportional to surge in the number of residents, economic growth and addition of industrial sector. Domestic Oil and gas conventional reserves depleted naturally while production outcome from reservoir also depleted time to time. In the other hand, new reserve did not discover significantly to replace it all. Many people are investigating to looking for new alternative energy to answer the challenge. There are several option to solve energy fossil needed problem using Unconventional Hydrocarbon. There are four aspects to consider as a management reference in order that Unconventional Hydrocarbon business can work properly, divided to: 1. Legal aspect, 2. Environmental aspect, 3. Technical aspect and 4. Economy aspect. The economic aspect as the key to whether or not a project can be implemented or not in Oil and Gas business scheme, so do Unconventional Hydorcarbon business scheme. The support of regulation are needed to buttress Unconventional Hydorcarbon business grow up and make benefits contribute to Government.

Keywords: alternative energy, unconventional hydrocarbon, regulation support, management strategy

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Authors: Akriti Chandra, Gourav Dwivedi, Seema Sharma, Shivani

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This study investigates the adoption of green business (GB) models within a circular economy framework (CEBM) for Micro Small and Medium Enterprise (MSME), given the rising importance of sustainable practices. The research begins by exploring the shift from linear business models towards resource-efficient, sustainable models, emphasizing the benefits of the circular economy. The study's literature review identifies 60 influential factors impacting the shift to green businesses, grouped as internal and external drivers. However, there is a research gap in examining these factors' interrelationships and operationalizing them within MSMEs. To address this gap, the study employs Total Interpretive Structural Modelling (TISM) to establish a hierarchical structure of factors influencing GB and circular economy business model (CEBM) adoption. Findings reveal that factors like green innovation and market competitiveness are particularly impactful. Using Systems Theory, which views organizations as complex adaptive systems, the study contextualizes these drivers within MSMEs, proposing a framework for a sustainable business model adoption. The study concludes with significant implications for policymakers, suggesting that the identified factors and their hierarchical relationships can guide policy formulation for a broader transition to green business practices. This work also invites further research, recommending larger, quantitative studies to empirically validate these factors and explore practical challenges in implementing CEBMs.

Keywords: green business (GB), circular economy business model (CEBM), micro small and medium enterprise (MSME), total interpretive structural modelling (TISM), systems theory

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Authors: H. Nakamura

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This study analyzes international strategic alliances in the information industry. The purpose of this study is to clarify the strategic intention of an international alliance. Secondly, it investigates the influence of differences in the target markets of partner companies on alliances. Using an international strategy theory approach to analyze the global strategies of global companies, the study compares a database business and an electronic publishing business. In particular, these cases emphasized factors attributable to "people" and "learning", reliability and communication between organizations and the evolution of the IT infrastructure. The theory evolved in this study validates the effectiveness of these strategies.

Keywords: database business, electronic library, international strategic alliances, partner selection

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Authors: Maja S. Todorovic

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This paper aims to promote entrepreneurial storytelling by exploring new ideas and learning practices. An entrepreneur needs to be a ‘storyteller’, an ‘epic hero’, capable of offering an emotional connection to his audience, a character with whom audience can identify with, rejoice, suffer, celebrate, fail – simply experience everything. In other words, a successful entrepreneur is giving tangible experience through his business story and that’s what makes his story and business alive. Use of mythology, eulogy, metaphor, epic, fairytales and cartoons, permeated with humor and sudden twists is a winning recipe for a business story that captures attention. In the business case of the Greenesignit! Card game, (educational and brainstorming tool for development of sustainable products) we will demonstrate how an entrepreneur successfully used visual narrative to communicate his story and at the same time as a vehicle to transmute his message in learning tool and product development.

Keywords: animating narrative, entrepreneur, Greeneisgnit! card game, visual storytelling

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Authors: Norazah Mohd Suki, Norbayah Mohd Suki

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This research aims to examine the influence of mediating effect of corporate social responsibility on the relationship between consumer awareness of green marketing and purchase intentions in the retail setting. Data from 200 valid questionnaires was analyzed using the partial least squares (PLS) approach for the analysis of structural equation models with SmartPLS computer program version 2.0 as research data does not necessarily have a multivariate normal distribution and is less sensitive to sample size than other covariance approaches. PLS results revealed that corporate social responsibility partially mediated the link between consumer awareness of green marketing and purchase intentions of the product in the retail setting. Marketing managers should allocate a sufficient portion of their budget to appropriate corporate social responsibility activities by engaging in voluntary programs for positive return on investment leading to increased business profitability and long run business sustainability. The outcomes of the mediating effects of corporate social responsibility add a new impetus to the growing literature and preceding discoveries on consumer green marketing awareness, which is inadequately researched in the Malaysian setting. Direction for future research is also presented.

Keywords: green marketing awareness, social responsibility, partial least squares, purchase intention

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Authors: Handie Pramana Putra, Ani Dijah Rahajoe

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The proliferation of smart devices and advancements in mobile communication technologies have permeated various facets of life with the widespread influence of e-commerce. Detecting abnormal transactions holds paramount significance in this realm due to the potential for substantial financial losses. Moreover, the fusion of data flow and control flow assumes a critical role in the exploration of process modeling and data analysis, contributing significantly to the accuracy and security of business processes. This paper introduces an alternative approach to identify abnormal transactions through a model that integrates both data and control flows. Referred to as the Extended Data Petri net (DPNE), our model encapsulates the entire process, encompassing user login to the e-commerce platform and concluding with the payment stage, including the mobile transaction process. We scrutinize the model's structure, formulate an algorithm for detecting anomalies in pertinent data, and elucidate the rationale and efficacy of the comprehensive system model. A case study validates the responsive performance of each system component, demonstrating the system's adeptness in evaluating every activity within mobile transactions. Ultimately, the results of anomaly detection are derived through a thorough and comprehensive analysis.

Keywords: database, data analysis, DPNE, extended data flow, e-commerce

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Authors: Ladaporn Pithuk

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The purposes of the study were to ascertain the customer requirement, to identify the factors related to online business in Thailand. The sample of this study consisted of 400 customers who are purchasing product and service on E-commerce. To get primary sources, a questionnaire consisting of 31 questions was designed and adapted from previous studies. The data from the questionnaires were collected and analyzed in descriptive forms and (ONE-WAY ANOVA) was conducted. The majority of the respondents showed customer requirement by stating “moderately agree” for questions asking them about customization, connection, content, commerce, context, communication and community, however, they also displayed negative attitudes by identifying “moderately disagree” for security concerns and after-sales services. These important issues need to be improved immediately since it can encourage customers to buy goods and services through the Internet or discourage them, and businesses should offer more channels of payment methods for customers for instance, e-payment.

Keywords: customer requirement, customization, connection, online business

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Authors: A. Hol

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21^st century brought waves of business and industry eTransformations. The impact of change is also being seen in education. To identify the extent of this, scenario analysis methodology was utilised with the aim to assess business transformations across industry sectors ranging from craftsmanship, medicine, finance and manufacture to innovations and adoptions of new technologies and business models. Firstly, scenarios were drafted based on the current eTransformation models and its dimensions. Following this, eTransformation framework was utilised with the aim to derive the key eTransformation parameters, the essential characteristics that have enabled eTransformations across the sectors. Following this, identified key parameters were mapped to the transforming domain-education. The mapping assisted in deriving a cognitive eTransformation framework for education sector. The framework highlights the importance of context and the notion that education today needs not only to deliver content to students but it also needs to be able to meet the dynamically changing demands of specific student and industry groups. Furthermore, it pinpoints that for such processes to be supported, specific technology is required, so that instant, on demand and periodic feedback as well as flexible, dynamically expanding study content can be sought and received via multiple education mediums.

Keywords: education sector, business transformation, eTransformation model, cognitive model, cognitive systems, eTransformation

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Authors: Iris Xiaohong Quan

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The global digital health market reached 175 billion U.S. dollars in 2019, and is expected to grow at about 25% CAGR to over 650 billion USD by 2025. Different terms such as digital health, e-health, mHealth, telehealth have been used in the field, which can sometimes cause confusion. The term digital health was originally introduced to refer specifically to the use of interactive media, tools, platforms, applications, and solutions that are connected to the Internet to address health concerns of providers as well as consumers. While mHealth emphasizes the use of mobile phones in healthcare, telehealth means using technology to remotely deliver clinical health services to patients. According to FDA, “the broad scope of digital health includes categories such as mobile health (mHealth), health information technology (IT), wearable devices, telehealth and telemedicine, and personalized medicine.” Some researchers believe that digital health is nothing else but the cultural transformation healthcare has been going through in the 21st century because of digital health technologies that provide data to both patients and medical professionals. As digital health is burgeoning, but research in the area is still inadequate, our paper aims to clear the definition confusion and provide an overall picture of digital health companies. We further investigate how business models are designed and differentiated in the emerging digital health sector. Both quantitative and qualitative methods are adopted in the research. For the quantitative analysis, our research data came from two databases Crunchbase and CBInsights, which are well-recognized information sources for researchers, entrepreneurs, managers, and investors. We searched a few keywords in the Crunchbase database based on companies’ self-description: digital health, e-health, and telehealth. A search of “digital health” returned 941 unique results, “e-health” returned 167 companies, while “telehealth” 427. We also searched the CBInsights database for similar information. After merging and removing duplicate ones and cleaning up the database, we came up with a list of 1464 companies as digital health companies. A qualitative method will be used to complement the quantitative analysis. We will do an in-depth case analysis of three successful unicorn digital health companies to understand how business models evolve and discuss the challenges faced in this sector. Our research returned some interesting findings. For instance, we found that 86% of the digital health startups were founded in the recent decade since 2010. 75% of the digital health companies have less than 50 employees, and almost 50% with less than 10 employees. This shows that digital health companies are relatively young and small in scale. On the business model analysis, while traditional healthcare businesses emphasize the so-called “3P”—patient, physicians, and payer, digital health companies extend to “5p” by adding patents, which is the result of technology requirements (such as the development of artificial intelligence models), and platform, which is an effective value creation approach to bring the stakeholders together. Our case analysis will detail the 5p framework and contribute to the extant knowledge on business models in the healthcare industry.

Keywords: digital health, business models, entrepreneurship opportunities, healthcare

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Authors: Pongsiri Kamkankaew

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This paper experiments to consider brand equity thought in Thai academic works. This essay employs that the first emerging of brand equity in Thai academic works and the components of brand equity which explore the extent to the convoluted approach with other Thai social condition. In Thailand, brand equity is supposed to provide branding and brand management replacement. However, the commitment of brand equity imposes in its proposal for seemly application in Thai context – to develop the brand equity framework by the Thai social – culture and Thai utilization style which it is questionable whether the brand equity in western conception is useful for characterizing the brand equity in Thailand context. In this position, brand equity also aspects several major questions: How can western conception lead to apply in Thai business? How can diversification be given within Thai SMEs business running? Can corporate brand valuation approach adopt in real business doing? So this paper argues that Thai brand equity notion should reduce disturb over improvement of its self-restraint and business area. Instead, Thai academic who are interested in brand equity can harmonize different mature bodies of discipline and other investigative a frame of references to complete and open the recognizing of brand equity.

Keywords: Thai brand equity, knowledge critical, brand management, branding

Procedia PDF Downloads 325

Authors: Batuhan Kocaoglu

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Nowadays digital transformation is a hot topic both in service and production business. For the companies who want to stay alive in the following years, they should change how they do their business. Industry leaders started to improve their ERP (Enterprise Resource Planning) like backbone technologies to digital advances such as analytics, mobility, sensor-embedded smart devices, AI (Artificial Intelligence) and more. Selecting the appropriate technology for the related business problem also is a hot topic. Besides this, to operate in the modern environment and fulfill rapidly changing customer expectations, a digital transformation of the business is required and change the way the business runs, affect how they do their business. Even the digital transformation term is trendy the literature is limited and covers just the philosophy instead of a solid implementation plan. Current studies urge firms to start their digital transformation, but few tell us how to do. The huge investments scare companies with blur definitions and concepts. The aim of this paper to solidify the steps of the digital transformation and offer a roadmap for the companies and academicians. The proposed roadmap is developed based upon insights from the literature review, semi-structured interviews, and expert views to explore and identify crucial steps. We introduced our roadmap in the form of 8 main steps: Awareness; Planning; Operations; Implementation; Go-live; Optimization; Autonomation; Business Transformation; including a total of 11 sub-steps with examples. This study also emphasizes four dimensions of the digital transformation mainly: Readiness assessment; Building organizational infrastructure; Building technical infrastructure; Maturity assessment. Finally, roadmap corresponds the steps with three main terms used in digital transformation literacy as Digitization; Digitalization; and Digital Transformation. The resulted model shows that 'business process' and 'organizational issues' should be resolved before technology decisions and 'digitization'. Companies can start their journey with the solid steps, using the proposed roadmap to increase the success of their project implementation. Our roadmap is also adaptable for relevant Industry 4.0 and enterprise application projects. This roadmap will be useful for companies to persuade their top management for investments. Our results can be used as a baseline for further researches related to readiness assessment and maturity assessment studies.

Keywords: digital transformation, digital business, ERP, roadmap

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Authors: Aminu Fagge Muhammad

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The digital economy is fast becoming the most innovative and widest reaching economy in the world, especially in developing countries. The paper aimed at examining role of digital economy in the emerging countries like Nigeria. The methodology used in the study is Business Model Perspective: lying between the process and structural perspectives, bring in the idea of the new business models that are being enabled e.g. e-business or e-commerce. The paper concluded that, the policy objectives and measures, and processes and structures necessary to enhance digital economy growth and its contribution to socio-economic development. The finding reveals that, digital infrastructure is in part incomplete, costly and poorly-performing in emerging economies like Nigeria. The wider digital ecosystem suffers a shortfall in human capabilities, weak financing, and poor governance. It is also found that, Growth in the digital economy is exacerbating digital exclusion, inequality, adverse incorporation and other digital harms. It is recommended that, government in partnership with private sector should build strong local infrastructure to enable broadband availability and accessibility and to create an enabling environment for strong competition in the telecom and technology ecosystem.

Keywords: Digital Economy, Emerging Countries, Business Model , Nigeria

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Authors: Jeonghwan Jeon

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Recently, the industry and academia have been planning development through industry/university cooperation (IUC), and the government has been promoting alternative methods to achieve successful IUC. Representatively, business cultivation involves the lead university (regarding IUC), research and development (R&D), company support, professional manpower cultivation, and marketing, etc., and the scale of support expands every year. Research is performed by many academic researchers to achieve IUC and although satisfaction of their results is high, expectations are not being met and study of the main factor is insufficient. Therefore, this research improves on theirs by analysing the main factors influencing their satisfaction. Each factor is analysed by AHP, and portfolio analysis is performed on the importance and current satisfaction level. This will help improve satisfaction of business participants and ensure effective IUC in the future.

Keywords: industry/university cooperation, satisfaction, portfolio analysis, business participant

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Authors: Ari Alamäki, Timo Kaski

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The value of co-creation has gained much attention in sales research, but less is known about how salespeople and customers interact in the authentic business to business (B2B) sales meetings. The study presented in this paper empirically contributes to existing research by presenting authentic B2B sales meetings that were video recorded and analyzed using observation and qualitative content analysis methods. This paper aims to study key elements of successful sales interactions between salespeople and customers/buyers. This study points out that salespeople are selling value rather than the products or services themselves, which are only enablers in realizing business benefits. Therefore, our findings suggest that promoting and easing open discourse is an essential part of a successful sales encounter. A better understanding of how salespeople and customers successfully interact would help salespeople to develop their interpersonal sales skills.

Keywords: personal selling, relationship, sales management, value co-creation

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Authors: Pichamon Chansuchai

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The objective of this research were to investigate electronic payment system on the internet and offer the guidelines for proper internal control of the payment system based on international standard security control (ISO/IEC 17799:2005),in a case study of payment of the internet, Thailand. The guidelines covered five important areas: (1) business requirement for access control, (2) information systems acquisition, development and maintenance, (3) information security incident management, (4) business continuity management, and (5) compliance with legal requirement. The findings from this qualitative study revealed the guidelines for proper internet control that were more reliable and allow the same line of business to implement the same system of control.

Keywords: audit, best practice, internet, payment

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Authors: Stephanie Liu Lu

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With the proliferation of artificial intelligence tools in the field of education, it is crucial to explore their impact on language learning outcomes. This paper examines the use of AI tools, such as ChatGPT, in practical writing within business Chinese teaching to investigate how AI can enhance practical writing skills and teaching effectiveness. The study involved third and fourth-year university students majoring in accounting and finance from a university in Hong Kong within the context of a business correspondence writing class. Students were randomly assigned to a control group, who completed business letter writing independently, and an experimental group, who completed the writing with the assistance of AI. In the latter, the AI-assisted business letters were initially drafted by the students issuing commands and interacting with the AI tool, followed by the students' revisions of the draft. The paper assesses the performance of both groups in terms of grammatical expression, communicative effect, and situational awareness. Additionally, the study collected dialogue texts from interactions between students and the AI tool to explore factors that affect text generation and the potential impact of AI on enhancing students' communicative and identity awareness. By collecting and comparing textual performances, it was found that students assisted by AI showed better situational awareness, as well as more skilled organization and grammar. However, the research also revealed that AI-generated articles frequently lacked a proper balance of identity and writing purpose due to limitations in students' communicative awareness and expression during the instruction and interaction process. Furthermore, the revision of drafts also tested the students' linguistic foundation, logical thinking abilities, and practical workplace experience. Therefore, integrating AI tools and related teaching into the curriculum is key to the future of business Chinese teaching.

Keywords: AI-assistance, business Chinese, textual analysis, language education

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Authors: Vani Tanggamani, Azlan Amran

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The issues of Corporate Social Responsibility (CSR) have been extended from developmental economics to corporate and business in recent years. Research in issues related to CSR is deemed to make higher impacts as CSR encourages long-term economy and business success without neglecting social, environmental risks, obligations and opportunities. Therefore, CSR is a key matter for any organisation aiming for long term sustainability since business incorporates principles of social responsibility into each of its business decisions. Thus, this paper presents a theoretical proposition based on stakeholder theory from the organisational perspective as a foundation for better CSR practices. The primary subject of this paper is to explore how looping concept can be effectively embedded into corporate CSR strategy to foster sustainable long term growth. In general, the concept of a loop is a structure or process, the end of which is connected to the beginning, whereas the narrow view of a loop in business field means plan, do, check, and improve. In this sense, looping concept is a blend of balance and agility with the awareness to know when to which. Organisations can introduce similar pull mechanisms by formulating CSR strategies in order to perform the best plan of actions in real time, then a chance to change those actions, pushing them toward well-organized planning and successful performance. Through the analysis of an exploratory study, this paper demonstrates that approaching looping concept in the context of corporate CSR strategy is an important source of new idea to propel CSR practices by deepening basic understanding through the looping concept which is increasingly necessary to attract and retain business stakeholders include people such as employees, customers, suppliers and other communities for long-term business survival. This paper contributes to the literature by providing a fundamental explanation of how the organisations will experience less financial and reputation risk if looping concept logic is integrated into core business CSR strategy.The value of the paper rests in the treatment of looping concept as a corporate CSR strategy which demonstrates "looping concept implementation framework for CSR" that could further foster business sustainability, and help organisations move along the path from laggards to leaders.

Keywords: corporate social responsibility, looping concept, stakeholder theory, sustainable growth

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Authors: Ali Muhammad

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The study investigates the effect of a number of contextual on the degree of trust within Kuwaiti business organizations. The model used in this study suggests that degree of trust within the organization is determined by four contextual variables, namely, centralization, formalization, role ambiguity, and procedural justice. Organizational trust refers to employee’ positive assumptions in regard to the goal and behaviors of other members in the organization according to organizational duties, relationships, experiences, and interrelatedness. According to the norm of reciprocity, individuals with high perceived organizational justice will be compelled to react positively to the organization in the form of higher degree of trust. The duty to exchange kindness for kindness. Based on the exchange theory, this research proposes that procedural justice, role clarity, and voice in the organization will lead to the perception of an organization’s discretionary positive treatment of employees and, in return enhances their trust in the organization. Survey data were collected from a sample of 206 employees working in Kuwaiti business organizations. Results of multiple regression analysis revealed that both organizational justice and formalization have positive effects on organizational trust. Furthermore, results indicate that lower degree of role ambiguity leads to higher degree of organizational trust. On the other hand, centralization was not found to have a significant effect on organizational trust. Implications of the findings and directions for future research are discussed.

Keywords: centralization, formalization, organizational justice, organizational trust, role ambiguity

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Authors: Noriyuki Suyama

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This paper looked into consumer behavioral changes by analyzing the data collected by ASMARKS Co., one of a research companies in Japan. The purpose of the paper is to understand the two differences of before vs. after COVID-19 pandemic and Japanese living in Japan. Subsequently, examining the analysis results helped obtain useful insights into new business models for business parties in Japan as a microlevel perspective. The paper also tried to explore future conditions of globalization by taking into consideration nation’s political and economic changes as a macro-level perspective. The COVID-19 has been continuing its spread across the world with more than 60 million confirmed cases in 190 countries. This pandemic with restricted scopes of behavior mandates have disrupted the consumer habits of their lifestyles. Consumers have tendency to learn new ways when they have trouble in taking routine action. For example, the government forces people to refrain from going out, they try to telecommute at home. If the situation come back to normal, people still change their lifestyles to fit in the best. Some of data show typical effects of COVID-19; forceful exposure to digitalized work-life styles; more flexible time at home; importance of trustful and useful information gathering between what's good and bad;etc. in comparison with before vs. after COVID-19 pandemic. In addition, Japanese have less changed their lifestyles than Expatriates living in Japan. For example, while 94% of the expatriates have decreased their outgo because of self-quarantine, only 55% of the Japanese have done. There are more differences in both comparisons in the analysis results. The economic downtrend resulting from COVID-19 is supposed to be at least as devastating if not more so than that of the financial crisis. With unemployment levels in the US taking two weeks to reach what took 6 months in the 2008 crisis, there is no doubt of a global recession some predict could reach 10% or above of GDP. As a result, globalization in the global supply chain of goods and services will end up with negative impact. A lot of governmental financial and economic policies are supposed to focus on their own profits and interests, exclusing other countries interests as is the case with the Recovery Act just after the global financial crisis from 2007 to 2008. Both micro- and macro-levels analysis successfully reveal important connotations and managerial implications of business in Japan for Japanese consumers as well as after COVID-19 global business.

Keywords: COVID-19, lifestyle in Japan, expatriates, consumer behavior

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Authors: Aynura Valiyeva, Basil John Thomas

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Intra-firm communication is critical for building synergy amongst internal business units of a firm, where employees from various functional departments and ranks incorporate their decision-making, understanding of organizational objectives, as well as common norms and culture for better organizational effectiveness. This study builds on and assesses a framework of the causes and consequences of effective communication in business interactions between customer and supplier firms, and the path for efficient communication within a firm. The proposed study’s structural equation modeling (SEM) analysis based on 352 sample responses collected from firm representatives at different job positions ranging from marketing to logistics operations, reveals that, in the frame of reference of intra-organizational communication, organization characteristics and shared values, top management support and style of leadership, as well as information technology, are all significantly related to communication effectiveness. Furthermore, the frequency and variety of interactions enhance the outcome of communication, that improves a company’s performance. The results reveal that cultural factors are significantly related to communication effectiveness, as well as the shared beliefs and goals. In terms of organizational factors, leadership style, top management support and information technology are significant determinants of effective communication. Among the contextual factors, interaction frequency and diversity are found to be priority factors. This study also tests the relationship between supplier and supplier firm performance in the context of communication effectiveness, and finds that they are closely related, when trust and commitment is built between business partners. When firms do business in other multicultural contexts, language and shared values with destination country must be considered significant elements of communication process.

Keywords: business performance, intra-firm communication, inter-firm communication, structural equation modeling

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Authors: Lani Fraizer, Faiz Shah

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Extreme poverty continues to plague the world. Forty-seven million people live well-below the poverty line in Bangladesh, enduring poor quality of life, often with no access to basic human needs like shelter and healthcare. It is not surprising that poverty eradication is central to the mission of social change makers, such as Muhammad Yunus, who have demonstrated how enterprise-led development initiatives empower individuals at the grassroots, and can galvanize entire communities to emerge out of poverty. Such strategies call for system-wide change, and like a number of systems leaders, social business champions have typically challenged the status quo, and broken out of silos to catalyze vibrant multi-stakeholder partnerships across sectors. Apart from individual charisma, social change makers succeed because they garner collaborative impact through socially beneficial partnerships. So while enterprise-led social development evolves in scope and complexity, in step with the need to create and sustain partnerships, Partnership Brokering is emerging as an approach to facilitate collaborative processes. As such, it may now be possible for anyone motivated by the idea of social business to acquire the skills and sophistication necessary for building enriching partnerships that harness the power of the market to address poverty. This paper examines dimensions of partnership brokering in the context of social business, and explores the implications of this emerging approach on fostering poverty eradication.

Keywords: poverty, social business, partnership brokering, social entrepreneurship, systems change, enterprise-led development, change making

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Authors: Armando Luis Vieira, Carlos Costa, Arthur Araújo

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The tourism system is viewable as a network of relationships amongst business partners where the success of each actor will ultimately be determined by the success of the whole network. Especially since the publication of Gümmesson’s (1996) ‘theory of imaginary organisations’, which suggests that organisational effectiveness largely depends on managing relationships and sharing resources and activities, relationship quality (RQ) has been increasingly recognised as a main source of value creation and competitive advantage. However, there is still ambiguity around this topic, and managers and researchers have been recurrently reporting the need to better understand and capitalise on the quality of interactions with business partners. This research aims at testing an RQ model from a relational, imaginary organisation’s approach. Two mail surveys provide the perceptions of 725 hotel representatives about their business relationships with tour operators, and 1,224 corporate client representatives about their business relationships with hotels (21.9 % and 38.8 % response rate, respectively). The analysis contributes to enhance our understanding on the linkages between RQ and its determinants, and identifies the role of their dimensions. Structural equation modelling results highlight trust as the dominant dimension, the crucial role of commitment and satisfaction, and suggest customer orientation as complementary building block. Findings also emphasise problem solving behaviour and selling orientation as the most relevant dimensions of customer orientation. The comparison of the two ‘dyads’ deepens the discussion and enriches the suggested theoretical and managerial guidelines concerning the contribution of quality relationships to business performance.

Keywords: corporate clients, destination competitiveness, hotels, relationship quality, structural equations modelling, tour operators

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Authors: Samaneh Pouyanfar, Michael Oliff

Abstract:

Nowadays, customer satisfaction and discovering the superior services, are counted as vital issues in most manufacturing and services companies. In these terms, gaining the competitive advantage by a business depends on products and services which are able to cause the customer satisfaction. Given the importance of this subject, this paper tries to investigate the correlation between components of customer satisfaction and gaining the competitive advantage by the business. For this purpose, after reviewing the research literature and doing deep interviews with authors and active people in the industry, based on the variables affecting the customer satisfaction and determinant components of business competitive advantage, research questionnaire was prepared. In sum, 96 executives of PARS-KHAZAR Company were asked in a survey. The results of P.L.S. Test for the research structure analysis showed that the measuring tools in terms of technical features, like convergent and divergent validity and compound reliability were very appropriate. Moreover the results showed that, the structure of products and factors related to foundation, has affected the competitive advantage performance positively and significantly; but the influence of structure of services and business environment on competitive advantage was not confirmed.

Keywords: customer satisfaction, competitive advantage, products, foundation, home appliances

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Authors: Ishmael Obaeko Iwara

Abstract:

The Point of Sale (POS) cash and cashless semi-formal business has emerged as a significant driver of employment in countries like Nigeria and Kenya, similar to other micro and small-scale enterprises. This business model enables individuals to establish cash in/out outlets, offering entrepreneurs and small business owners a lucrative opportunity to generate additional income. However, the benefits extend beyond employment, as the POS model has become an integral part of the payment system in these countries. It facilitates convenient fund transfers, cash deposits, and withdrawals for individuals residing in both urban and rural areas. Given South Africa's high youth unemployment rate and limited banking services in rural households, coupled with a vibrant informal business economy akin to Nigeria and Kenya, the POS model potentially presents a business opportunity for the unemployed and serves as a banking solution for remote communities. Nonetheless, its implementation within South Africa's entrepreneurial landscape remains a subject of contention. Through qualitative research employing a participatory community-led action research approach, this study analyzes feedback, critiques, and potential interventions from various stakeholders, including business actors, grassroots communities, financial institutions, and policymakers. The findings offer crucial insights into the challenges associated with the adoption of the POS model and suggest mitigating factors to facilitate its successful implementation.

Keywords: grassroots entrepreneurs, rural households, POS banking, youth employment

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Authors: Abhimanyu Pati, Krishna Kumar Veluri

Abstract:

The paper intends to bring out a real life experience encountered during actual implementation of a large scale Tier-1 Enterprise Resource Planning (ERP) system in a multi-location, discrete manufacturing organization in India, involved in manufacturing of auto components and aggregates. The business complexities, prior to the implementation of ERP, include multi-product with hierarchical product structures, geographically distributed multiple plant locations with disparate business practices, lack of inter-plant broadband connectivity, existence of disparate legacy applications for different business functions, and non-standardized codifications of products, machines, employees, and accounts apart from others. On the other hand, the manufacturing environment consisted of processes like Assemble-to-Order (ATO), Make-to-Stock (MTS), and Engineer-to-Order (ETO) with a mix of discrete and process operations. The paper has highlighted various business plan areas and concerns, prior to the implementation, with specific focus on strategic issues and objectives. Subsequently, it has dealt with the complete process of ERP implementation, starting from strategic planning, project planning, resource mobilization, and finally, the program execution. The step-by-step process provides a very good learning opportunity about the implementation methodology. At the end, various organizational challenges and lessons emerged, which will act as guidelines and checklist for organizations to successfully align and implement ERP and achieve their business objectives.

Keywords: ERP, ATO, MTS, ETO, discrete manufacturing, strategic planning

Procedia PDF Downloads 245