Search results for: resilient business development

Authors: Arash Najmaei, Jo Rhodes, Peter Lok, Zahra Sadeghinejad

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In this article, we endeavor to explore how a new business model comes into existence in the Australian cloud-computing eco-system. Findings from multiple case study methodology reveal that to develop a business model new ventures adopt a three-phase approach. In the first phase, labelled as business model ideation (BMID) various ideas for a viable business model are generated from both internal and external networks of the entrepreneurial team and the most viable one is chosen. Strategic consensus and commitment are generated in the second phase. This phase is a business modelling strategic action phase. We labelled this phase as business model strategic commitment (BMSC) because through commitment and the subsequent actions of executives resources are pooled, coordinated and allocated to the business model. Three complementary sets of resources shape the business model: managerial (MnRs), marketing (MRs) and technological resources (TRs). The third phase is the market-test phase where the business model is reified through the delivery of the intended value to customers and conversion of revenue into profit. We labelled this phase business model actualization (BMAC). Theoretical and managerial implications of these findings will be discussed and several directions for future research will be illuminated.

Keywords: entrepreneur business model, high-tech venture, resources, conversion of revenue

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Authors: Somayeh Sobati Moghadam

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Business processes are crucial for organizations and help businesses to evaluate and optimize their performance and processes against current and future-state business goals. Outsourcing business processes to the cloud becomes popular due to a wide varsity of benefits and cost-saving. However, cloud outsourcing raises enterprise data security concerns, which must be incorporated in Business Process Model and Notation (BPMN). This paper, presents SeCloudBPMN, a lightweight extension for BPMN which extends the BPMN to explicitly support the security threats in the cloud as an outsourcing environment. SeCloudBPMN helps business’s security experts to outsource business processes to the cloud considering different threats from inside and outside the cloud. In this way, appropriate security countermeasures could be considered to preserve data security in business processes outsourcing to the cloud.

Keywords: BPMN, security threats, cloud computing, business processes outsourcing, privacy

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Authors: Xiaohui Zhao, Shahan Mafuz

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Context-aware technologies provide system applications with the awareness of environmental conditions, customer behaviour, object movements, etc. Further, with such capability system applications can be smart to adapt intelligently their responses to the changing conditions. Concerning business operations, this promises businesses that their business processes can run more intelligently, adaptively and flexibly, and thereby either improve customer experience, enhance reliability of service delivery, or lower operational cost, to make the business more competitive and sustainable. Aiming at realizing such context-aware business process management, this paper firstly explores its potential benefit and then identifies some gaps between the current business process management support and the expected. In addition, some preliminary solutions are also discussed with context definition, rule-based process execution, run-time process evolution, etc. A framework is also presented to give a conceptual architecture of context-aware business process management system to guide system implementation.

Keywords: business process adaptation, business process evolution, business process modelling, and context awareness

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Authors: Oloniyo Kemisola Eunice, Odere Oladunni Oluwafeyikemi

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Technological change and globalization have created a new global economy with Information and Communication Technology (ICT) occupying a complex position in relation to globalization. The emergence of this new global economy has serious implications on the nature and purpose of educational institutions. The paper is basically a theoretical discourse. Data for analysis were obtained from secondary sources. The paper found that significant challenges confront the integration of ICTs in education in the areas of educational policy and planning, infrastructure, language and content, capacity building and financing in Nigeria. The paper concluded that business education needs to be well equipped to anticipate and respond to opportunities created by ICTs in order to participate productively and equitably in an increasingly technology-rich and knowledge-driven world. The paper recommended, among others, that the investments in ICTs should be used to promote the development of basic skills, problem-solving and communication skills and the professional development of teachers.

Keywords: information, communication, technology, business, education

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Authors: Minna-Maari Harmaala, Hanna Harilainen

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Estimates of the economic value of transitioning to circular economy models vary but it has been estimated to represent $1 trillion worth of new business into the global economy. In Europe alone, estimates claim that adopting circular-economy principles could not only have environmental and social benefits but also generate a net economic benefit of €1.8 trillion by 2030. Proponents of a circular economy argue that it offers a major opportunity to increase resource productivity, decrease resource dependence and waste, and increase employment and growth. A circular system could improve competitiveness and unleash innovation. Yet, most companies are not capturing these opportunities and thus the even abundant circular opportunities remain uncaptured even though they would seem inherently profitable. Service design in broad terms relates to developing an existing or a new service or service concept with emphasis and focus on the customer experience from the onset of the development process. Service design may even mean starting from scratch and co-creating the service concept entirely with the help of customer involvement. Service design methodologies provide a structured way of incorporating customer understanding and involvement in the process of designing better services with better resonance to customer needs. A business model is a depiction of how the company creates, delivers, and captures value; i.e. how it organizes its business. The process of business model development and adjustment or modification is also called business model innovation. Innovating business models has become a part of business strategy. Our hypothesis is that in addition to linear models still being easier to adopt and often with lower threshold costs, companies lack an understanding of how circular models can be adopted into their business and how customers will be willing and ready to adopt the new circular business models. In our research, we use robust service design methodology to develop circular economy solutions with two case study companies. The aim of the process is to not only develop the service concepts and portfolio, but to demonstrate the willingness to adopt circular solutions exists in the customer base. In addition to service design, we employ business model innovation methods to develop, test, and validate the new circular business models further. The results clearly indicate that amongst the customer groups there are specific customer personas that are willing to adopt and in fact are expecting the companies to take a leading role in the transition towards a circular economy. At the same time, there is a group of indifferents, to whom the idea of circularity provides no added value. In addition, the case studies clearly show what changes adoption of circular economy principles brings to the existing business model and how they can be integrated.

Keywords: business model innovation, circular economy, circular economy business models, service design

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Authors: Toby Gibbs, Suwaree Yordchim

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This research analyzes factors affecting the success of Litecoin Value within Thailand and develops a guideline for self-reliance for effective business implementation. Samples in this study included 119 people through surveys. The results revealed four main factors affecting the success as follows: 1) Future Career training should be pursued in applied Litecoin development. 2) Didn't grasp the concept of a digital currency or see the benefit of a digital currency. 3) There is a great need to educate the next generation of learners on the benefits of Litecoin within the community. 4) A great majority didn't know what Litecoin was. The guideline for self-reliance planning consisted of 4 aspects: 1) Development planning: by arranging meet up groups to conduct further education on Litecoin and share solutions on adoption into every day usage. Local communities need to develop awareness of the usefulness of Litecoin and share the value of Litecoin among friends and family. 2) Computer Science and Business Management staff should develop skills to expand on the benefits of Litecoin within their departments. 3) Further research should be pursued on how Litecoin Value can improve business and tourism within Thailand. 4) Local communities should focus on developing Litecoin awareness by encouraging street vendors to accept Litecoin as another form of payment for services rendered.

Keywords: bitcoin, cryptocurrency, decentralized, business implementation

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Authors: Charlie Yang

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The idea that business practitioners urgently need a more holistic and humanistic philosophy about the free market economy has gained some attraction among business practitioners and business professors. Those who have endorsed “conscious capitalism” as an emerging business philosophy also contended that business education should be grounded in a more positive understanding of capitalism, which enables future business leaders to have a greater impact on the world. This study is designed to critically examine the theoretical foundations of conscious capitalism and its practical and pedagogical possibilities as an emerging business movement. Based on the analysis of qualitative data collected through reflective essays written by business students, I will discuss the pedagogical and practical implications for developing conscious leadership in the context of more transformative and contemplative management education.

Keywords: conscious capitalism, conscious leadership, contemplative management education, contemplative pedagogy

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Authors: Akor Omachile Opaluwah

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Entrepreneurs are heralded as a very vital force in the growth of economies. This is because they create businesses, employ people, have direct access to the local consumer, and primarily utilize local sources of raw materials, have an understanding of the immediate need of consumers, and they have the capacity to keep in motion the economy. The rise of social enterprises takes these advantages further beyond the business and economic benefits. These Social enterprises help address developmental issues in the society while maintaining a profit for their investors and shareholders. These combined roles create a unique synergy between the civil society and the market, therefore placing the social enterprise in a position where they can access directly, the benefits of the market while meeting the needs of the citizens and their environment. With such a unique position, social enterprises hold a place in the development discourse that has previously been left unexplored. This hybridisation of the functions of civil societies and the market can provide to development, practices, and benefits that have previously been only available in trace amounts. It, therefore, is imperative to understand the efficacy of social enterprises. With the discourse of social enterprises still in its early stages. This paper looks at selected social enterprise cases in Nigeria and analyses their approach and contribution to development.

Keywords: business, civil society, development, entrepreneurs, innovation, market, Nigeria, social enterprise

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Authors: Fernando Doral

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Family businesses are a key phenomenon within the business landscape. Nevertheless, it involves two terms (“family” and “business”) which are nowadays rapidly evolving. Consequently, it isn't easy to diagnose if a family business will be a growing or decreasing phenomenon, which is the objective of this study. For that purpose, a sample of 50 Spanish-established companies from various sectors was taken. Different factors were identified for each enterprise, related to the profile of the founders, such as age, the number of sons and daughters, or support received from the family at the moment to start it up. That information was taken as an input for a clustering method to identify groups, which could help define the founders' profiles. That characterization was carried as a base to identify three factors whose evolution should be analyzed: family structures, business landscape and entrepreneurs' motivations. The analysis of the evolution of these three factors seems to indicate a negative tendency of family businesses. Therefore the consequent diagnosis of this study is to consider family businesses as a declining phenomenon.

Keywords: business diagnose, business trends, family business, family business founders

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Authors: Carmen Avilés Palacios, Camilo Muñoz Arenas, Joaquín García Alfonso, Jesús González Arteaga, Alberto Alcalde Calonge

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There is a need for review of the consumption and production models of industrialized states in accordance with the Paris Agreement and the Sustainable Development Goals (1) (OECD, 2016). This constitutes the basis of the bioeconomy (2) that is focused on striking a balance between economic development, social development and environmental protection. Bioeconomy promotes the adequate use and consumption of renewable natural resources (3) and involves developing new products and services adapted to the principles of circular economy: more sustainable (reusable, biodegradable, renewable and recyclable) and with a lower carbon footprint (4). In this context, Urban Forest Innovation Lab (UFIL) grows, an Urban Laboratory for experimentation focused on promoting entrepreneurship in forest bioeconomy (www.uiacuenca.es). UFIL generates local wellness taking sustainable advantage of an endogenous asset, forests. UFIL boosts forest bioeconomy opening its doors of knowledge to pioneers in this field, giving the opportunity to be an active part of a change in the way of understanding the exploitation of natural resources, discovering business, learning strategies and techniques and incubating business ideas So far now, 100 entrepreneurs are incubating their nearly 30 new business plans. UFIL has promoted an ecosystem to connect the rural-urban world that promotes sustainable rural development around the forest.

Keywords: bioeconomy, forestry, innovation, entrepreneurship

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Authors: Gurjinder Singh, Jasmeen Kaur, Mukul Dhiman

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This paper mainly describes the significance of 3D printing in the supply chain management in a scenario when there is disruption in global supply chain. Furthermore, the development and implementation of supply chain strategies in context of 3D printing technology is framed to make supply chain of an organization resilient to disruption caused by natural disasters.

Keywords: 3D printing, global supply chain, supply chain management, supply chain strategies

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Authors: Ayna Yusubova, Bart Clarysse

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This paper explores role of research institutes in creation of support ecosystem for new technology-based ventures. Previous literature introduced research institutes as part of business and knowledge ecosystem, very few studies are available that consider a research institute as an ecosystem that support high-tech startups at every stage of development. Based on a resource-based view and a stage-based model of high-tech startups growth, this study aims to analyze how a research institute builds a startup support ecosystem by attracting different stakeholders in order to help startups to overcome resource. This paper is based on an in-depth case study of public research institute that focus on development of entrepreneurial ecosystem in a developed region. Analysis shows that the idea generation stage of high-tech startups that related to the invention and development of product or technology for commercialization is associated with a lack of critical knowledge resources. Second, at growth phase that related to market entrance, high-tech startups face challenges associated with the development of their business network. Accordingly, the study shows the support ecosystem that research institute creates helps high-tech startups overcome resource gaps in order to achieve a successful transition from one phase of growth to the next.

Keywords: new technology-based firms, ecosystems, resources, business incubators, research instutes

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Authors: Odirachukwu S. Mwim, Tana Pistorius

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Since the early 1990s political and economic pressures have been mounted on policy and law makers to increase patent protection by raising the protection standards. The perception of the relation between patent protection and development, particularly economic development, has evolved significantly in the past few years. Debate on patent protection in the international arena has been significantly influenced by the perception that there is a strong link between patent protection and economic development. The level of patent protection determines the extent of development that can be achieved. Recently there has been a paradigm shift with a lot of emphasis on extending patent protection to method of doing business generally referred to as Business Method Patenting (BMP). The general perception among international organizations and the private sectors also indicates that there is a strong correlation between BMP protection and economic growth. There are two diametrically opposing views as regards the relation between Intellectual Property (IP) protection and development and innovation. One school of thought promotes the view that IP protection improves economic development through stimulation of innovation and creativity. The other school advances the view that IP protection is unnecessary for stimulation of innovation and creativity and is in fact a hindrance to open access to resources and information required for innovative and creative modalities. Therefore, different theories and policies attach different levels of protection to BMP which have specific implications for economic growth. This study examines the impact of BMP protection on development by focusing on the challenges confronting economic growth in African communities as a result of the new paradigm in patent law. (Africa is used as a single unit in this study but this should not be construed as African homogeneity. Rather, the views advanced in this study are used to address the common challenges facing many communities in Africa). The study reviews (from the point of views of legal philosophers, policy makers and decisions of competent courts) the relevant literature, patent legislation particularly the International Treaty, policies and legal judgments. Findings from this study suggest that over and above the various criticisms levelled against the extreme liberal approach to the recognition of business methods as patentable subject matter, there are other specific implications that are associated with such approach. The most critical implication of extending patent protection to business methods is the locking-up of knowledge which may hamper human development in general and economic development in particular. Locking up knowledge necessary for economic advancement and competitiveness may have a negative effect on economic growth by promoting economic exclusion, particularly in African communities. This study suggests that knowledge of BMP within the African context and the extent of protection linked to it is crucial in achieving a sustainable economic growth in Africa. It also suggests that a balance is struck between the two diametrically opposing views.

Keywords: Africa, business method patenting, economic growth, intellectual property, patent protection

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Authors: Bobuchi Ken-Opurum

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The impacts of climate change on urban settlements is growing. In the global south, communities are even more vulnerable and suffer there is an increased vulnerability from due to climate change disasters such as flooding and high temperatures. This is primarily due to high intensity rainfall, low-lying coasts, inadequate infrastructure, and limited resources. According to the Emergency Events Database, floods were the leading cause of disaster -based deaths in the global south between 2006 and 2015. This includes deaths from heat stress related health outcomes. Adapting to climate vulnerabilities is paramount in reducing the significant redevelopment costs from climate disasters. Governments and urban planners provide top-down approaches such as evacuation, and disaster and emergency communication. While they address infrastructure and public services, they are not always able to address the immediate and critical day to day needs of poor and vulnerable populations. There is growing evidence that some bottom-up strategies and grassroots initiatives of self-build housing such as in urban informal settlements are successful in coping and adapting to hydroclimatic impacts. However, these research findings are not consolidated and the evaluation of the resilience outcomes of the bottom-up strategies are limited. Using self-build housing as a model for sustainable and resilient urban planning, this research aimed to consolidate the flood and heat stress resilient design solutions, analyze the effectiveness of these solutions, and develop guidelines and methods for adopting these design solutions into mainstream housing in megathermal climates. The methodological approach comprised of analyses of over 40 ethnographic based peer reviewed literature, white papers, and reports between the years 2000 and 2019 to identify coping strategies and grassroots initiatives that have been applied by occupants and communities of the global south. The results of the research provide a consolidated source and prioritized list of the best bottom-up strategies for communities in megathermal climates to improve the lives of people in some of the most vulnerable places in the world.

Keywords: resilient, design, megathermal, climate change

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Authors: Lina Sinevičienė

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Arising problems of countries’ public finances, social and demographic changes motivate scientific and policy debates on public spending size, structure and efficiency in order to meet the changing needs of society and business. The concept of sustainable development poses new challenges for scientists and policy-makers in the field of public finance. This paper focuses on the investigation of the relationship between government expenditure and country’s economic development in the context of sustainable development. Empirical analysis focuses on the data of the European Union (except Croatia and Luxemburg) countries. The study covers 2003 – 2012 years, using annual cross-sectional data. Summarizing the research results, it can be stated that governments should pay more attention to the needs that ensure sustainable development in the long-run when formulating public expenditure policy, particularly in the field of environment protection.

Keywords: economic development, economic growth, government expenditure, sustainable development

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Authors: Katalina Grigorova, Kaloyan Mironov

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The paper focuses on the benefits of business process modeling. Although this discipline is developing for many years, there is still necessity of creating new opportunities to meet the ever-increasing users’ needs. Because one of these needs is related to the conversion of business process models from one standard to another, the authors have developed a converter between BPMN and EPC standards using workflow patterns as intermediate tool. Nowadays there are too many systems for business process modeling. The variety of output formats is almost the same as the systems themselves. This diversity additionally hampers the conversion of the models. The presented study is aimed at discussing problems due to differences in the output formats of various modeling environments.

Keywords: business process modeling, business process modeling standards, workflow patterns, converting models

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Authors: Kylie Leonard

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Investment in artificial intelligence (AI) can be an attractive opportunity for business leaders as there are many easy-to-see benefits. These benefits include task completion rates, overall cost, and better forecasting. Business leaders are often unaware of the challenges that can accompany AI, such as data center costs, access to data, employee acceptance, and privacy concerns. In addition to the benefits and challenges of AI, it is important to practice AI ethics to ensure the safe creation of AI. AI ethics include aspects of algorithm bias, limits in transparency, and surveillance. To be a good business leader, it is critical to address all the considerations involving the challenges of AI and AI ethics.

Keywords: artificial intelligence, artificial intelligence ethics, business leaders, business concerns

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Authors: Minttu Laukkanen, Janne Huiskonen

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This study investigates the sharing economy business models as examples of the sustainable business models. The aim is to contribute to the limited literature on sharing economy in connection with sustainable business models by explaining sharing economy business models value capturing. Specifically, this research answers the following question: How business model choices affect captured sustainable value? A multiple case study approach is applied in this study. Twenty different successful sharing economy business models focusing on consumer business and covering four main areas, accommodation, mobility, food, and consumer goods, are selected for analysis. The secondary data available on companies’ websites, previous research, reports, and other public documents are used. All twenty cases are analyzed through the sharing economy business model framework and sustainable value analysis framework using qualitative data analysis. This study represents general sharing economy business model value attributes and their specifications, i.e. sustainable value propositions for different stakeholders, and further explains the sustainability impacts of different sharing economy business models through captured and uncaptured value. In conclusion, this study represents how business model choices affect sustainable value capturing through eight business model attributes identified in this study. This paper contributes to the research on sustainable business models and sharing economy by examining how business model choices affect captured sustainable value. This study highlights the importance of careful business model and sustainability impacts analyses including the triple bottom line, multiple stakeholders and value captured and uncaptured perspectives as well as sustainability trade-offs. It is not self-evident that sharing economy business models advance sustainability, and business model choices does matter.

Keywords: sharing economy, sustainable business model innovation, sustainable value, value capturing

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Authors: Akwesi Assensoh-Kodua

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Online Social Networks (OSN) has come and gone, yet the explosion of business activities on such platforms continuous to surge high, giving advantage to the bold entrepreneurs. It is therefore a practical requirement that practitioners and researchers understand the key determinants of costumers’ online social network business activities and continuance intention. An exploratory literature research to examine OSN continuous intention of business participants on OSN revealed that the practice of doing business on social network has come to stay and the following factors are the likely drivers for this new business model: perceived trust, perceived ease of use, confirmation, habit, social norm, perceived behavioural control, expected benefit, and satisfaction are the most probable factors that can lead to online social network (OSN) continuance intention.

Keywords: online social network, continuance intention, business continuance

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Authors: Rotem Mashkov, Noam Shoval

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In an age when a tourist’s gaze is more focused on the daily lives of locals, it is evident that local food markets are being rediscovered. Traditional urban markets succeed in reinventing themselves as a space for consumption, recreation, and culture, enabling authentic experiences and interpersonal interactions with the local culture. Alongside this, the pressure of tourism development may result in commercialization and retail gentrification to the point of losing the sense of local identity. The issue of finding a balance between tourism development and the preservation of unique local features is at the heart of this study and is being tested using the case of the Mahane Yehuda market in Jerusalem. The research question—how merchants respond to tourism development in the Mahane Yehuda food market— focuses on local traders, a group of players who are usually absent from the research arenas, although they influence tourism development as well as influenced by it. Three main research methods were integrated into this study. The first two methods, a survey of articles survey and comparative mapping of the business mix, were used to characterize the changes in the Mahane Yehuda market both consciously and physically. The third research method, involving in-depth interviews with merchants, was used to examine the traders' attitudes and responses to tourism development. The findings indicate that there has been a turnaround in the market image over the past decade and a half. Additionally, there has been a significant physical change in the business mix, reflected by a decline of 15% in the number of stalls selling food products and delicacies. The data from the interviews on the traders’ attitudes towards tourism development were inconclusive; there were disagreements among the traders about the economic contribution of tourism development in relation to their dependence on the tourism industry. However, there was a consensus on the need for authentic elements in the marketplace. The findings of the study also indicate a strong link between the merchants’ response to tourism development and their stall ownership status as the merchant could exercise their position in various ways depending on the possession type.

Keywords: business mix, Jerusalem, local food markets, Mahane Yehuda market, merchants’ attitude, ownership status, retail gentrification, tourism development, traditional urban markets

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Authors: Heejung Lee

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In a highly competitive environment, it becomes more important to shorten the whole business process while delivering or even enhancing the business value to the customers and suppliers. Although the workflow management systems receive much attention for its capacity to practically support the business process enactment, the effective workflow modeling method remain still challenging and the high degree of process complexity makes it more difficult to gain the short lead time. This paper presents a workflow structuring method in a holistic way that can reduce the process complexity using activity-needs and formal concept analysis, which eventually enhances the key performance such as quality, delivery, and cost in business process.

Keywords: workflow management, re-engineering, formal concept analysis, business process

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Authors: M. Chumburidze, N. Salia, T. Namchevadze

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This work deal with case processing problems in business. The task of strategic credit requirements management of cases portfolio is discussed. The information model of credit requirements in a binary tree diagram is considered. The algorithms to solve issues of prioritizing clusters of cases in business have been investigated. An implementation of priority queues to support case management operations has been presented. The corresponding pseudo codes for the programming application have been constructed. The tools applied in this development are based on binary tree ordering algorithms, optimization theory, and business management methods.

Keywords: credit network, case portfolio, binary tree, priority queue, stack

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Authors: Abul Shamsuddin

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The Islamic stock market indices are constructed by screening out stocks that are incompatible with Islam’s prohibition of interest and certain lines of business. This study examines the effects of Islamic screening on the risk-return characteristics of Islamic vis-a-vis mainstream equity portfolios. We use data on Dow Jones Islamic market indices and FTSE Global Islamic indices over 1993-2013. We observe that Islamic equity indices outperform their mainstream counterparts in both raw and risk-adjusted returns. In addition, Islamic equity indices are more resilient to turbulence in international markets than that of their mainstream counterparts. The findings are robust across a variety of portfolio performance measures.

Keywords: Dow Jones Islamic market index, FTSE global Islamic index, ethical investment, finance

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Authors: Alexandra Lipitakis, Evangelia A. E. C. Lipitakis

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In this article, a class of e-business strategy planning parameters are introduced and their effect on financial and non-financial performance of e-businesses and organizations is investigated. The relationships between these strategic planning parameters, i.e. Formality, Participation, Sophistication, Thoroughness, Synergy and Cooperation, Entropic Factor, Adaptivity, Uncertainty and Financial and Non-Financial Performance are examined and the directions of these relationships are given. A conceptual model has been constructed and quantitative research methods can be used to test the considered eight hypotheses. In the framework of e-business strategy planning this research study clearly demonstrates how strategic planning components have positive relationships with e-business strategy management and performance.

Keywords: e-business management, e-business model, e-business performance assessments, strategy management methodologies, strategy planning, quantitative methods

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Authors: Sungwon Jung

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The percentage of 20 years or older apartment houses in South Korea is approximately 20% (1.55 million houses), and the explosive increase of aged houses is expected around the first planned new towns. Accordingly, we should prepare for social issues such as difficulty of housing lease and degradation of housing performance. The improvement of performance of aged houses is essential for achieving the national energy and carbon reduction goals, and we should develop techniques to respond to the changing construction environment. Furthermore, we should develop a performance evaluation system that is appropriate for the demands of residents such as the improvement of remodeling floor plan by performance improvement in line with the residence type of the housing vulnerable groups such as low-income group and elderly people living alone. For this purpose, remodeling techniques and business models optimized for the target complexes must be spread through the development of various business models. In addition, it is necessary to improve the remodeling business by improving the laws and systems related to the improvement of the residential performance and to prepare techniques to respond to the increasing business demands. In other words, performance improvement and evaluation and knowledge systems need to be researched as new issues related to remodeling that has not been addressed in the existing research.

Keywords: remodelling, performance evaluation, web-based system, big data

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Authors: Dimitrios Dimitriou, Maria Sartzetaki

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In the early days of the of civil aviation, airports are totally state-owned companies under the control of national authorities or regional governmental bodies. From that time the picture has totally changed and airports privatisation and airport business commercialisation are key success factors to stimulate air transport demand, generate revenues and attract investors, linked to reliable and resilience of air transport system. Nowadays, airport's corporate strategy deals with policies and actions, affecting essential the business plans, the financial targets and the economic footprint in a regional economy they serving. Therefore, exploring airport corporate strategy is essential to support the decision in business planning, management efficiency, sustainable development and investment attractiveness on one hand; and define policies towards traffic development, revenues generation, capacity expansion, cost efficiency and corporate social responsibility. This paper explores key outputs in airport corporate strategy for different ownership schemes. The airport corporations are grouped in three major schemes: (a) Public, in which the public airport operator acts as part of the government administration or as a corporised public operator; (b) Mixed scheme, in which the majority of the shares and the corporate strategy is driven by the private or the public sector; and (c) Private, in which the airport strategy is driven by the key aspects of globalisation and liberalisation of the aviation sector. By a systemic approach, the key drivers in corporate strategy for modern airport business structures are defined. Key objectives are to define the key strategic opportunities and challenges and assess the corporate goals and risks towards sustainable business development for each scheme. The analysis based on an extensive cross-sectional dataset for a sample of busy European airports providing results on corporate strategy key priorities, risks and business models. The conventional wisdom is to highlight key messages to authorities, institutes and professionals on airport corporate strategy trends and directions.

Keywords: airport corporate strategy, airport ownership, airports business models, corporate risks

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Authors: Abosede Mosunmola Odeseye

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The sustainability of nations’ economies today have proven to be unrealistic in a constantly changing world without appropriate accordance to entrepreneurship role and its processes. This role has therefore proven to be a product of the available and discoverable opportunities by an individual/organisation in any pattern – innovation, discovery, diffusion, imitation amidst possible challenges. In light of these, this paper examined the relationship between opportunity development and entrepreneurial processes as well as the factors determining individual’s opportunity development and the success of entrepreneurial processes. Systematic review method was adopted for selecting relevant academic materials. The theoretical base of this paper was anchored on Schumpeter’s entrepreneurial innovation model and Drucker and Stevenson’s opportunity-based entrepreneurship theory. Based on the reviewed literature, it was discovered that rough business idea “opportunity” in any form – techniques/product encounter various obstacles to achieve its development, acceptability and sustainability. In essence, the findings revealed that the birth of every opportunity is as a result of the individual/organisation and environmental factors to be able to scale through the whole process successfully. Due to the outcome of this paper, it was recommended that the organisations/government should endeavour to create an enabling environment for a rough business idea to come to life amidst the hurdles of the entrepreneurial process.

Keywords: entrepreneurial process, entrepreneurship, opportunity, opportunity development, organisation, sustainability

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Authors: Alireza Nikravanshallmani, Jamshid Dehmeshki, Mojtaba Ahmadi

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Modeling of business processes, based on BPMN (Business Process Modeling Notation), helps analysts and managers to understand business processes, and, identify their shortages. These models provide a context to make rational decision of organizing business processes activities in an understandable manner. The purpose of this paper is to provide a framework for better understanding of business processes and their problems by reducing the cognitive load of displayed information for their audience at different managerial levels while keeping the essential information which are needed by them. For this reason, we integrate business process diagrams across the different managerial levels to develop a framework to improve the performance of business process management (BPM) projects. The proposed framework is entitled ‘Business process improvement framework based on managerial levels (BPIML)’. This framework, determine a certain type of business process diagrams (BPD) based on BPMN with respect to the objectives and tasks of the various managerial levels of organizations and their roles in BPM projects. This framework will make us able to provide the necessary support for making decisions about business processes. The framework is evaluated with a case study in a real business process improvement project, to demonstrate its superiority over the conventional method. A questionnaire consisted of 10 questions using Likert scale was designed and given to the participants (managers of Bank Refah Kargaran three managerial levels). By examining the results of the questionnaire, it can be said that the proposed framework provide support for correct and timely decisions by increasing the clarity and transparency of the business processes which led to success in BPM projects.

Keywords: business process management (BPM), business process modeling, business process reengineering (BPR), business process optimizing, BPMN

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Authors: Prapin Nuchpiam

Abstract:

Sustainable Development Goals (SDGs) have become a global agenda for all. The role of the business sector is significant in promoting sustainable development, particularly to prevent, address, and remedy human rights abuses committed in business operations. Modern slavery is one of the complex issues of human rights. The paper aims to study the UK Modern Slavery Act (MSA) 2015, whose main purpose is to tackle modern slavery in all its forms: human trafficking, slavery, forced labor, and domestic servitude. The Act has a great significance in its approach to involving businesses in combating modern slavery without imposing stricter regulations on them. In doing so, Section 54 of the MSA requires commercial organizations to disclose a statement confirming the transparency in their corporate supply chains. Even though the statement is required by law, in practice, it is rather similar to the ‘comply or explain’ scheme. In other words, compliance is mainly enforced due to fear of reputational risk, rather than of lawbreaking. Thailand has been reported a number of modern slavery cases, particularly in the production stage of supply chains. With desperate attempts to solve modern slavery, the Thai government tends to seek stricter regulation and stronger punishment as the main approach. The paper will analyze the effective implementation of section 54and conclude whether and to what extent the MSA can be applied to the case of Thailand.

Keywords: human rights, responsible business, SDGs, the UK modern slavery act 2015

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Authors: Paul Saah, Charles Mbohwa, Nelson Sizwe Madonsela

Abstract:

In the context of developing countries, this study explores a crucial component of economic development by examining the reasons behind the failure of small and medium-sized enterprises (SMEs). SMEs are acknowledged as essential drivers of economic expansion, job creation, and poverty alleviation in emerging countries. This research uses South Africa as a case study to evaluate the reasons why SMEs fail in developing nations. This study explores a quantitative research methodology to investigate the complex causes of SME failures using statistical tools and reliability tests. To ensure the viability of data collection, a sample size of 400 small business owners was chosen using a non-probability selection technique. A closed-ended questionnaire was the primary technique used to obtain detailed information from the participants. Data was analysed and interpreted using computer software packages such as the Statistical Package for the Social Sciences (SPSS). According to the findings, the main reasons why SMEs fail in developing nations are a lack of strategic business planning, a lack of funding, poor management, a lack of innovation, a lack of business research and a low level of education and training. The results of this study show that SMEs can be sustainable and successful as long as they comprehend and use the suggested small business success determining variables into their daily operations. This implies that the more SMEs in developing countries implement the proposed determinant factors of small business success in their business operations the more the businesses are likely to succeed and vice versa.

Keywords: failure, developing countries, SMEs, economic development, South Africa

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