Changing Business Research Articles

КОГНИТИВНЫЕ ИСКАЖЕНИЯ КАК ЭЛЕМЕНТ КЛИЕНТОЦЕНТРИЧНЫХ КОММУНИКАЦИЙ В БАНКОВСКОЙ СФЕРЕ

The article deals with the research of banking organizations’ communication with customers in the conditions of business turbulence and changes in the sphere of socio-economic relations. It is analyzed how a number of cognitive distortions affect consumers’ understanding of information and how distorted perceptions can be avoided.

Reliable exploration of the deposit as the first step in the process of forecasting the quality of commercial coal

The article presents the basics of the deposit exploration process carried out at Jastrzębska Spółka Węglowa, which aims to ensure a rational exploitation of resources while maintaining high product quality. It showcases the problems associated with the small mass of samples coming from the exploration wells, which make determining the key quality parameters of coke impossible and proposes solutions to assess the quality of coals in terms of producing coke with high parameters, as determined by the Nippon Steel Corporation (NSC) test, i.e. coke reactivity (CRI) and post-reaction strength (CSR). Jastrzębska Spółka Węglowa, in initiating the “Quality Program” in 2018, covering the processes of deposit modeling, production planning and scheduling, and commercial product quality monitoring, set the goal of improving production processes by enabling the control of the production planning process. Such efforts are aimed at enabling the dynamic adjustment of product quality to the changing business environment, particularly at a time of increased decarbonization efforts in the European steel industry. Knowing the quality of deposits is a milestone in the process of predicting the quality of a commercial product. The primary tools for exploration of the deposit are both surface and underground drilling and sampling of seam coal during ongoing access and mining operations. In addition, analysis of qualitative data, i.e. physicochemical parameters, coking parameters and petrographic analysis from previous mining operations is carried out for the purpose of assessing coal quality and its suitability for coking.

The impact of COVID-19 on corporate investment behaviours

The COVID-19 pandemic has had a significant impact on the investment strategies of corporations worldwide. This has led to many companies reevaluating and adjusting their investment approaches in response to the changing business landscape. To understand these shifts, this article used a paired t-test methodology to analyse changes in various financial components, including accounts receivables, inventory, fixed assets, and intangible assets, from 2019 to 2021. The study also examined the proportion of each of these components in the total assets of the companies under investigation. The findings revealed a consistent upward trajectory in the aforementioned asset categories, even during the pandemic outbreak. This implied that companies continued to invest in these areas, which may have been less affected by the pandemic. However, apart from intangible assets, the proportion of the remaining asset categories in the total assets of these companies experienced a decline. The article suggested that companies may change their investment priorities or reallocate resources in response to changing economic conditions brought on by the epidemic. Therefore, it is beneficial to improve the overall performance of the company through efficient use of resources.

DIGITAL TRANSFORMATION'S EFFECT ON SUPPLY CHAIN MANAGEMENT

Supply chain management has seen substantial changes as a result of the digital transformation, which has an impact on its adaptability and resilience. The dual effects of digital transformation are explored in this abstract, which shows how businesses have leveraged technology to improve their supply chains' resilience to disturbances and their agility to adapt to shifting consumer expectations. In order to ensure that supply chains stay resilient and flexible in a changing business climate, the study examines strategies, tools, and best practices that have helped businesses achieve this balance. Empirical research is used in this investigation.

ПЕРЕДУМОВИ ПРОВЕДЕННЯ АНАЛІТИЧНИХ ПРОЦЕДУР АУДИТУ ФІНАНСОВИХ РЕЗУЛЬТАТІВ ПІДПРИЄ

The audit of financial results in companies with corporate governance has become a critical aspect of modern business practices. This study explores the prerequisites for conducting analytical procedures of audit of financial results in the context of corporate governance, emphasizing its role as a comprehensive tool ensuring efficiency, transparency, and sustainable development of the corporate sector. The relevance of this topic is underscored by the growing complexity of business environments, increasing regulatory demands, and the need for greater transparency in corporate operations. As companies face heightened scrutiny, the role of audit has expanded beyond traditional boundaries, becoming integral to strategic decision-making and risk management processes. This paper examines the regulatory framework for audit in Ukraine, which integrates both national and international standards. A key contribution of this research is the proposal of a hierarchical model of audit objectives. This model illustrates the multi-level nature of auditing activities, encompassing a spectrum of tasks from ensuring the reliability of financial statements to achieving strategic corporate governance goals. The study delves into the role of analytical procedures in audit, positioning them as powerful means of generating valuable information for strategic decision-making and business process improvement. This perspective highlights the evolving nature of audit, moving from a compliance-focused activity to a value-adding business function. In the context of investment attractiveness, the paper argues that quality audit is a key factor in building investor and stakeholder confidence. It plays a crucial role in protecting shareholder rights, especially those of minority shareholders, by ensuring transparency and accountability in management decisions. The paper concludes by positioning audit of financial results as an integral component of modern corporate governance systems. It argues that effective audit practices contribute significantly to enhancing the efficiency, transparency, and competitiveness of Ukrainian companies in the global market. This study contributes to the ongoing dialogue on the evolution of audit practices in the face of changing business landscapes and increasing stakeholder expectations, providing valuable insights for practitioners, regulators, and academics in the fields of auditing and corporate governance.

Organizational Mindfulness Perspective on Driving Enterprise System Adaptation and Organizational Agility

Nowadays enterprise system(s) (ESs) have become a pervasive digital platform and are widely utilized by firms. However, uncertain environments require firms continuously adapt their ES. ES adaptation involves the postimplementation changes of an ES to meet changing business needs. How firms adapt their ES to facilitate organizational agility remains an understudied issue. Drawing from the literature of organizational mindfulness, this article holds that firms need to foster organizational mindfulness—a firm's willingness and capacity to capture and refine discriminatory details about its environments—to facilitate ES adaptation and organizational agility. We build and test a model based on 138 responses of Taiwanese manufacturing firms. Our findings demonstrate that organizational mindfulness can help firms to achieve better ES adaptation and organizational agility. Specifically, organizational mindfulness can facilitate not only ES adaptation but also entrepreneurial and adaptive agility that is the offensive and defensive dimensions of organizational agility. ES adaptation is mainly related to entrepreneurial agility. This article contributes to the agility literature by proposing and testing a model of how organizational mindfulness affects ES adaptation and organizational agility.

Review of the book "Organizational behavior and transformational leadership"

Organizations can be viewed as open systems because they collaborate with external stakeholders to manage critical resources. When companies lack certain resources, they establish relationships with other companies to obtain those required resources (Alkaraan et al., 2023). Scholars shed light on the influence of governance and organizational leadership on business innovation strategies and sustainability (Alkaraan, 2023; Alkaraan & Floyd, 2020; Wu et al., 2023). The findings of Alkaraan et al. (2023) reveal the vital role transforaminal leadership and organizational ambidexterity play in business innovation strategies to cope with the changing business environment. Radicic and Alkaraan (2022) shed light on the influence relative effectiveness of open innovation strategies in single and complex business innovators. Among effective management systems, the importance of human resources is increasing. Employee performance is one of the most important factors affecting organizational performance (Al-Hazim et al., 2017; Hiyassat et al., 2016; Bekr, 2016, 2018).

Service delivery and quality assurance in administrative units of higher education institutions during the pandemic

In the challenging backdrop of the pandemic, educational institutions, particularly teacher education entities, found themselves at a crossroads. Administrative services, traditionally seen as the backbone of these institutions, underwent significant shifts. Using a tool inspired by the Area X. Administration section of the Accrediting Agency of Chartered Colleges and Universities in the Philippines (AACCUP) instrument and grounded in the principles of Kivistö and Pekkola (2017), this study adopts a mixed-method approach to dissect these transitions. Our research unveils a robust move towards digitization, emphasizing the growing role of online learning and communication platforms in the modern educational business model. However, this digital embrace brings forth challenges, especially in areas like resource allocation, supply chain management, and stakeholder communication, which demand innovative business solutions. The findings underscore the need for ongoing improvement, adaptability, and the integration of modern business practices in the educational sector. This research serves as a roadmap, offering actionable insights for institutions aiming to optimize their administrative functions amidst changing business landscapes. Furthermore, it sets the stage for future researchers, emphasizing the blend of traditional educational values with contemporary business strategies, and encourages a more profound exploration of how educational institutions can navigate and thrive in today’s dynamic business environment.

GIS 기반 로컬상권의 성장에 따른 상권특성 변화

With the increasing interest in neighborhoods, the concept of “local” has emerged as a new economic force in the small business industry. In this context, the purpose of this study is to analyze the characteristics of changes in local business districts as they grow, and to provide valuable data for site selection and industry choices, which are crucial for small business startups. Initially, we explored the changes in population and stores over five years (2017, 2022) in Hong-dae and Seong-su business districts, which are representative local areas in South Korea. Population factors included the number of young adults, the number of single-person households, and the floating population. Store information included restaurant addresses, specific business types, and opening/closing dates, which were analyzed using Geographic Information Systems (GIS). The population factors of the Seong-su business district, which is in a period of local growth, all increased, and stores concentrated around the initial formation point of the local district and expanded into alleys. In terms of business type, there was a significant increase in the proportion of cafes, western food, Japanese food, and sentimental bars. In contrast, in the Hong-dae business district, where localization has already been activated, there has been no significant change in the resident population and specific business type. However, the concentration of stores has spread more widely to alleys and non-core areas. Therefore, small business owners who start a local business should base their decisions on the characteristics of changes as the local business district grows. They should consider factors such as the influx of the youth population when choosing a location and a type of business for successful operation.

Business Management Model of Private and Public News Channels in Pakistan: A Case Study of GEO News and PTV News

Purpose: The chief purpose of this study was designed to explore the phenomenal changes of business management models of the private and public news channels in Pakistan. The rationale behind this objective was to explore changing business approaches as adopted by the private news channel like Geo News and the public news channel like PTV News. The advent of the social media has altogether changed the landscape for the traditional media including newspapers and news channels, therefore, it seemed quite appropriate to explore new strategies for enhancing business for news channels in Pakistan. 
 Design/Methodology/Approach: The study employed in-depth interviews qualitative method to collect qualitative data from different patterns of data for major themes. Qualitative Content Analysis was partially employed to minimize large stream of data into small chunk and analyze data accordingly.
 Findings: The study found out that the state-run news channel like PTV News was solely relying for financial support on the federal and provincial governments. Accordingly, the PTV News was providing absolute coverage to public departments and enhancing image of the ministers of the ruling political party and their ministries to enhance their public trust. However, the private news channel like GEO News has to make all-out efforts on advertising agencies, real estate sectors, multi-national companies, national and international corporations to meet its financial besides enhancing business of the Channel. Reciprocally, the private sector providing huge funding to GEO News has some sort of influence on its editorial content and news coverage thus compromising freedom of express to some extent. 
 Implications/Originality/Value: The study has drawn a visible line between financial expenditure and its impact on news coverage and editorial policy. PTV News was providing absolute coverage to public departments due to financial dependency, whereas the GEO News was providing coverage to all political parties and other public and private sector with slight difference. However, the freedom of expression of the GEO News was compromised to some extent because of financial dependency.

Revenue Relation with VAT in Nepal Government Budget Structure

Taxes are major fiscal policy instruments and important government policy tools have an important role in increasing the rate of capital formation and thereby a high rate of economic growth can be achieved. Globalization, privatization and liberalization have brought the huge change in the country budget and economic environment. The budget management of government is one of the important tasks which play very important role in the nation and international environment which influence the technology and changing business environment has posed many challenges before management. This study aims to find out the Nepal government budget status in economic sectors. Descriptive research has been conducted using annual report of economic survey of ministry of finance. Descriptive analysis suggested that is strong relationship between revenue and expenditure management of Nepal government budget. The main objective of this study is to determine the relationship between revenue and expenditure in the study made over the period 2073/74 to 2077/78 taken as a sample year in this research study among the various fiscal years of Nepal government budget. The statistical methods of trend analysis and descriptive statistics like mean, standard deviation, coefficient of variation and hypothesis test were used to analyze the study outcomes.
 The results of the study indicated the revenue, expenditure and deficits conditions of Nepal government budget. This research articles report sources of revenue and structure of budget heads of Nepalese economic sector. It also reflects the whole revenue and expenditure positions of Nepal government and effective implementation of revenue estimation to manage deficits conditions. The revenue, expenditure and deficits conditions policy and strategies would also helps to manage deficits conditions by research studying.

The Role of Oracle HCM in Transforming HR Operations

Oracle Human Capital Management (HCM) stands out as a revolutionary force in the midst of the quickly changing world of Human Resources (HR). It is transforming conventional HR operations by using cutting-edge technology and strategic insights. It is the purpose of this abstract to investigate how Oracle Human Capital Management (HCM) helps to the modernisation of HR services, the enhancement of employee experiences, the drive of efficiency, and the alignment of HR practices with organisational objectives. A complete set of technologies that are meant to simplify human resource activities, including recruiting and onboarding, performance management, and employee development, is integrated into Oracle Human Capital Management (HCM). Using cloud-based solutions, Oracle Human Capital Management (HCM) provides scalability and flexibility, which enables businesses to quickly adjust their operations in response to changing market circumstances and business requirements. In today's highly competitive world, when agility and innovation are essential to maintaining development and success, this adaptability and flexibility is very necessary. One of the most important advantages of Oracle Human Capital Management is its data-driven approach, which offers insights that can be put into action by means of sophisticated analytics and reporting. Because of these skills, human resource managers are able to make choices based on accurate information, recognise patterns, and proactively handle possible problems. An example of this would be the ability of predictive analytics to foresee workforce demands, optimise talent management methods, and improve overall organisational performance of an organisation. Furthermore, the comprehensive data security measures implemented by Oracle Human Capital Management (HCM) guarantee the protection of sensitive employee information, therefore encouraging confidence and ensuring compliance with legal standards. Oracle Human Capital Management also places an emphasis on the significance of employee experience and engagement. Self-service choices for managing personal information, perks, and career development are made possible by its user-friendly design and mobile accessibility, which makes it more convenient for workers and increases their level of satisfaction. Not only does this emphasis on employee-centric features increase operational efficiency, but it also adds to greater staff retention rates and a more pleasant culture inside the organisation.

Corporate Social Responsibility 2.0 Towards a socio-transformative paradigm for business

The South African business fraternity is expected to contribute to and foster the government’s social transformation agenda. This contribution should be directed by businesses’ corporate social responsibility (CSR) intentions and organizational arrangements. However, companies’ efforts in this regard are being increasingly criticized due to the absence of a socio-transformative agenda. In other words, CSR praxis is perceived to be inadequately positioned in businesses to act as a core strategic function aimed at benefiting society. The purpose of this article is to outline the perceived failures of conventional CSR praxis and to propose a framework for businesses to adopt a socio-transformative CSR paradigm. A generic qualitative research design, utilizing document analysis and a literature survey, was followed in this study. The findings indicate that businesses do indeed need to adopt a socio-transformative business model to comply with national and international driving forces for change. Recommendations are proposed to guide businesses towards such a transformative management approach utilizing the principles of McKinsey 7-S model for business readiness and Kotter’s 8-step change management model. The study encourages corporations and firms to adopt a socio-transformative paradigm by utilizing established business readiness and change management models.

APPLICATION OF THE WEIGHT PRODUCT METHOD FOR PRIORITIZING CONSTRUCTION PROJECTS

As a dynamic and complex sector, the construction industry is often faced with challenges in managing projects and determining their priorities. In the context of intense business competition and changes in the external environment, this research highlights the importance of developing efficient methods for prioritizing construction projects. The focus is on applying the Weight Product (WP) method, a decision-making framework, to score projects based on cost, time, quality, and risk criteria. The method integrates data collection, analysis, modeling, and ranking. The results identify projects that align with the company's priority objectives, while the systematic steps can provide practical guidance for construction companies in optimizing resource allocation. This research also has the potential to contribute to the literature and practice of the construction industry, as well as be the basis for developing more advanced applications and decision-making methods and priority project selection applications

Leveraging Blue Prism for Scalable Process Automation in Stock Plan Services

In today’s fast-paced financial landscape, efficiency and accuracy are critical, particularly in managing stock plan services. Organizations are increasingly adopting process automation technologies to streamline operations, reduce errors, and enhance scalability. This paper explores the role of Blue Prism, a leading Robotic Process Automation (RPA) tool, in transforming stock plan services through scalable process automation. Stock plan services involve complex tasks such as managing employee stock options, tracking vesting schedules, and ensuring compliance with regulatory requirements. These processes are traditionally manual and prone to human error, leading to inefficiencies and increased operational costs. By leveraging Blue Prism, organizations can automate these repetitive and time-consuming tasks, resulting in significant improvements in accuracy and efficiency. Blue Prism offers a robust framework for developing and deploying digital workers capable of handling a wide range of tasks. Its scalable architecture allows for the automation of high-volume transactions and the ability to adapt to changing business needs. The platform’s key features include a user-friendly interface for process design, secure data handling capabilities, and seamless integration with existing systems and applications. This paper discusses several case studies where Blue Prism has been successfully implemented in stock plan services. It highlights the benefits realized, such as reduced processing times, minimized errors, and enhanced compliance with regulatory standards. Additionally, the paper addresses the challenges faced during implementation, including system integration, change management, and employee training. Solutions and best practices are provided to overcome these challenges and ensure a smooth transition to automated processes.

Determining Critical Success Factors of the Digital Transformation Using a Force-Directed Network Graph

Conducting a digital transformation is one of the major challenges for today’s companies as it is usually associated with a high risk. The reasons for this are manifold. Technologies are still evolving and there is no coherent standard for digital platforms enabling digitalization. Furthermore, it is not only about introducing new technology but also requires a fundamental change in an organization and its culture. Consequently, planning a digital transformation project (or program) requires a careful analysis of the company’s current situation and the envisioned objectives. This article investigates critical success factors for preparing and executing such a transformation. The success factors are identified by conducting a structured literature analysis. 13 scientific papers are identified and then analyzed quantitatively and qualitatively. The quantitative analysis is conducted by using force-directed network graphs. Both methods are then compared and discussed. The result shows that most critical success factors are related to the business change rather than to introducing technology. Leadership, strategy, vision, corporate culture, and customer centricity play a stronger role than a digital platform.

АНАЛИЗ ТРЕБОВАНИЙ ЗАИНТЕРЕСОВАННЫХ СТОРОН ПРИ ФОРМИРОВАНИИ ГРАНТОВОЙ ПОДДЕРЖКИ АГРОПРОМЫШЛЕННОГО КОМПЛЕКСА

State grant support for small businesses in the agro-industrial complex is an important form of stimulating and financing innovative activity. The research is based on a stakeholder approach to business change management and specific innovative projects in the interests of the state and the business entities themselves with the help of the Foundation for Assistance to Small Innovative Enterprises (FASIE) in scientific and technical spheres. The analysis conducted showed that out of the total financing volume for all “Start” and “Commercialization” programs, 9.29% of grant support was allocated to projects in the agro-industrial complex in 2021, and only 8.81% in 2022. The largest share of funding goes to the “Commercialization” program (74.22% in 2021 and 64.65% in 2022), which aims to support innovative projects of existing agricultural organizations, involving the creation, expansion, and modernization of production necessary for serial release. This does not fully satisfy the needs for supporting startups and young developing organizations. At the same time, the structure of satisfied applications reflects the requests of their authors – the largest share of allocated financing is for the “Biotechnology” direction (55.38% in 2021 and 42.58% in 2022), followed by “New instruments and intelligent production technologies” (29.58% in 2021 and 31.28% in 2022). However, the analysis of the requirements of state policy in the field of digitalization of the economy and changes in the needs of economic entities shows the inevitability of a gradual reorientation of their projects towards “Digital Technologies” and “Artificial Intelligence”. Geographically, the largest volume of allocated funds is for the Central and Volga Federal Districts (36.47% and 25.2% respectively), which does not sufficiently satisfy the needs of businesses in other regions of the country. A proposal is justified to satisfy the information needs of various groups of stakeholders in the innovative development of the agro-industrial complex (including government bodies) by disclosing information on the actual implementation and effectiveness of funded projects by supported organizations and on the Fund's website.

Digital Transformation of Enterprises in the Mode of IoT - A Case Study of Haier

With the advent of the Internet of Things era, China, as the largest manufacturing country, should actively carry out digital transformation to enhance the independent innovation ability, improve industrial structure, and optimize the quality and level of the existing manufacturing industry in order to enhance the brand competitiveness of manufacturing enterprises. This paper will provide a reference for other companies by examining the digital transformation path of Haier, the leader of Chinese home appliances, under the IoT model. This paper uses the case study method to analyze Haier's own business situation in recent years vertically by studying its digital transformation in terms of products and finances, and horizontally by comparing Haier's business situation with that of companies in the same industry. The study has found that changing business strategies based on the needs of the IoT era, constantly adjusting and optimizing internal structures and management models of enterprises, can help carry out digital transformation of enterprises in today's era.

MANAGEMENT CONTROL OVER THE ACTIVITIES OF BUSINESS ENTITIES

The article presents the main aspects of organisation of management control. An a priori analysis of the accounting and analytical support of the process of managing the enterprise's activities has been carried out. The Order on the accounting policy of enterprise is analysed in detail and its main advantages and disadvantages are identified. The article considers the stage-by-stage and object-by-object formation of the accounting policy of enterprise. It emphasises the importance of correct formation of the accounting order and develops and presents main stages of the strategy of efficient functioning of an enterprise. The necessity of organization of management control as a key factor of profitability of enterprise has been proved. An assessment of the activities of a limited liability company for three years has been carried out. The methodical approaches to assessing the analysis of the enterprise's activity have been generalized: a methodology for calculating indicators has been presented and their analytical interpretation has been carried out. The system of indicators for diagnostics of enterprise activity is built on the basis of cause-and-effect relations of their analytical functions. Based on the reliable financial statements, the article evaluates the activities of PROMZIPAKTIV LLC for three years, revealing a long-term trend towards unprofitability and financial difficulties, especially in 2020. Negative profitability and declining equity indicate the need for strategic changes. Positive aspects have been identified, such as the growth of net service income, which is combined with the efficiency of asset use. Problems with liquidity, asset turnover and liquidity efficiency require urgent measures. It is recommended to optimize inventory management, increase liquidity ratios and accelerate the turnover of receivables. increase the financial stability and sustainable development of the enterprise. In the course of the study, it was found that periodic monitoring and adaptation of the strategy is a productive feature for the successful implementation of management control. Hypothetically, it is planned that the development strategy should ensure sustainable growth of a business entity. These steps are aimed at improving financial stability and management efficiency to ensure sustainable development in the face of financial difficulties. It is proved that management control, as a management tool, is indeed crucial for achieving strategic goals and ensuring the stability of an enterprise in a changing business environment.

ФІНАНСОВІ ІНСТРУМЕНТИ В РОЗВИТКУ БІЗНЕС-ІННОВАЦІЙ

This article analyzes the role of financial instruments in supporting and stimulating business innovations, considers venture financing, lending, crowdfunding and other mechanisms as key levers for the development of innovative projects and startups. The purpose of the study is to identify and analyze the factors that make certain financial instruments more effective in supporting innovation. The advantages and disadvantages of each instrument are considered, and their ability to adapt to the changing business environment is discussed. The article utilizes a variety of research methods, including literature review, case studies, and comparative analysis, to provide a comprehensive view of the topic. The study shows that venture capital investments often provide not only capital, but also valuable knowledge, mentoring, and access to a network of contacts. The results indicate that traditional bank lending is often inaccessible or insufficiently flexible for innovation-oriented companies due to the high level of risk. However, specialized loan programs, such as government guarantees and subsidized loans, can increase the availability of credit for innovative projects. Crowdfunding is an effective tool for validating market demand and raising initial funding, especially for projects that go beyond traditional investment models. The results emphasize the importance of financial innovations, such as fintech solutions and digital currencies, which can simplify access to capital and reduce transaction costs for innovative enterprises. One of the key challenges is the divergent understanding of risk between investors and innovators. The article emphasizes that bureaucracy and complexity of processes for obtaining financing can significantly slow down or even stop innovation initiatives, and the flexibility and adaptability of financial instruments are key to effectively supporting innovation, especially in the context of a rapidly changing market and technological progress. These results provide important insights into various aspects of innovation financing and can be used to develop more effective strategies and policies in this area.