Advanced Business Research Articles

Density-Refine: Patent Image Retrieval by Density based Region Extraction and Feature Fusion

Abstract Design-by-Analogy (DbA) is an important methodology in mechanical design that generates innovative solutions in the target domain with inspiration from a source domain. The patent database is one of the valuable source domains for the DbA method. Meanwhile, patents are crucial in engineering, especially for engineering design and acquiring an exclusive business advantage. Therefore, efficient patent exploration is essential in patent application and design inspiration. Patent image complements text-based descriptions with visual information. The visual information is practical for patent devices with complex structures. We found that spatial density is vital in extracting the relevant sub-regions. Therefore, we leveraged this property by incorporating density-based clustering to enrich the training dataset. We also proposed a feature fusion mechanism to utilize the newly extracted sub-region information. As a result, we named our method Density-Refine since we improved the performance of patent image retrieval by employing the density property. Our method outperformed the state-of-the-art approaches in the benchmark dataset for patent image retrieval. We also investigate the performance of applying the density property to other similar mediums, such as sketch image retrieval. We expect this work to be a stepping stone to inspire more influential studies in image retrieval and design inspiration.

The emerging green economy: Exploring the influence of ISO 14001 on South African manufacturing sector

ABSTRACT Although ISO 14001 offers benefits such as improved environmental performance and a business advantage, to date, the financial benefits associated with ISO 14001 in South Africa have not been quantified. Thus, this study sought to assess the financial benefits accruing to selected manufacturing enterprises, accredited as ISO 14001 compliant, located in three South African provinces. Data was collected through an e-survey and interviews with key decision-makers in the selected organisations. The results show that the benefits of ISO14001 certification include improved environmental awareness among employees; enhanced responsibility for employees’ environmental concerns, better data management; reduced operational and production costs; and new income streams linked to re-use and recycling initiatives. But savings are seemingly sector-specific, with auto manufacturers making the greatest return on investment. Overall, the long-term financial benefits justify the relatively high cost; time-intensive obligations and extensive human resource requirements of ISO14001 certification for most, but not all, the companies under study.

Analysis of Value Co-Creation in Catering Enterprises

In recent years, the notion of value co-creation has emerged as a seminal theoretical and practical framework, originating from the evolution of the service-dominant logic (SDL). The concept of value co-creation has been applied to a limited number of industries, including retail, catering, tourism and healthcare. In these sectors, the application of value co-creation has facilitated a more profound comprehension of the mechanisms underpinning this phenomenon. Catering enterprises represent a significant segment within the service industry, characterized by direct interaction with consumers and a high degree of flexibility. This unique advantage is a significant factor in the study of value co-creation. To further understand the characteristics of value co-creation in catering enterprises, this paper employs the analysis of variance method to conduct an in-depth investigation of value co-creation in different types of catering. The research findings indicate that the impact of each dimension of value co-creation varies depending on the time, nature and scale of establishment of the catering enterprise. The findings of this study provide a foundation for the provision of targeted business advice to enterprise management, with the aim of enhancing the management level of the enterprise.

THE RELATIONSHIP BETWEEN ELECTRONIC WORD-OF-MOUTH AND GEN Z CONSUMERS' INTENTION IN SELECTING EATING PLACE IN HO CHI MINH CITY, VIETNAM

Electronic Word of Mouth (eWOM) is one of the prevalent forms of information interaction activities in the era of digital technology. In the F&B field, it can be understood as the method by which consumers share information, experiences and reviews about the products and services from individuals or businesses through various online channels such as social media, forums, personal blogs and other platforms. Reflecting current trends, this research aims to examine the factors and t he extent to which eWOM influences the behaviour of Generation Z consumers in Ho Chi Minh City. The res earch methods employed include qualitative and quantitative approaches, serving the purpose of literature review, statistical data analysis and structural equation modelling to assess the relationship between eWOM and the decision-making process in choosing eating places. The study reveals that four factors, namely information quality, information credibility, relevance of information and attitude towards information, directly impact the acceptance of eWOM information, subsequently influencing the intention selection of Gen Z consumers in Ho Chi Minh City. Additionally, brand trust is identified as a positive factor in this research relationship. The findings provide valuable insights into the role of eWOM in the intention selection of Gen Z consumers. This information can be applied by managers and marketers to develop more intelligent management and marketing strategies in Ho Chi Minh City, providing a competitive advantage for businesses.

Analysis of the Current Situation of Electronic Commerce and B2B Marketing Systems in the Oil and Gas Industry

The analysis of the current situation reveals that electronic commerce and B2B (business-to-business) marketing systems are rapidly evolving within the oil and gas industry, enabling more efficient collaboration and optimization of operations between companies. Traditionally, the oil and gas sector has complex supply chains, and the implementation of e-commerce systems provides greater transparency and flexibility in managing these chains. B2B marketing systems play a crucial role in building strong partnerships between enterprises, ensuring more accurate information exchange and effective resource distribution.The adoption of electronic commerce, particularly digital technologies, allows oil and gas companies to streamline their sales, procurement, and supply chain operations, making these processes faster and more efficient. Digital platforms enhance the interactions between companies, leading to savings in both time and financial resources. The development of B2B marketing systems also strengthens the competitive advantage of suppliers and customers in the industry, especially in international markets, by expanding opportunities for strategic partnerships. In addition, the development of electronic commerce and B2B marketing systems further amplifies the positive impact of digital transformation in the oil and gas industry. The faster and more efficient exchange of information between companies, automation of workflows, and monitoring of operations enhance the competitive advantage of businesses. Transactions conducted through e-commerce reduce costs and enable more efficient resource management.

SHARENTING AND SOCIAL MEDIA: TURNING PARENTS’ POSTS INTO MARKETING TOOLS

After the phone, social media has become one of the most effective communication tools for today's people. People share many experiences from their daily lives to education and marketing on these platforms. At the same time, social media enriches these shares with videos, pictures, audio and written texts and presents them to other people. This study aimed to investigate the effects of parents' shares on social media on children and businesses. The impact of social media has affected parents' family relationships and parenting habits. The digital traces that parents create about their children, storing various memories about their children, documenting their growth processes, creating social networks in this sense, strengthening family ties and even sharing experiences with other parents represent the positive side of sharenting. However, sharenting, as a form of interaction between parents and social media, carries certain risks beneath its innocent appearance. First of all, children's privacy is violated. A picture that seems innocent at first may also cause children to encounter some bullying in the future. Written or visual products shared without children's permission may even cause psychological damage in the future. Our study is based on the thesis that sharing can offer opportunities for marketing strategies. Many consumers are positively affected by innocent images of children and may form closer relationships with the brand. In many cases, these images can offer advantages for businesses to develop products. Businesses can influence parents through their children, encouraging them to buy more products and increasing brand reliability. In fact, short photos of parents with their children can enable businesses to produce content that supports these moments, thus creating an emotional connection and increasing consumer loyalty. All of this is possible if the right strategy is used. In addition to academic studies, professional opinions of the business world on social media were also used in the presentation of this study. The practical implications of the study reveal that parent sharing, if used correctly, can be beneficial in terms of marketing without causing psychological or social harm to children.

The role of personnel management in ensuring the quality of medical activities

Personnel management is a field of knowledge and practical activity aimed at providing the organization with highly trained personnel who can perform the labor functions assigned to them and ensure optimal utilization. The quality of medical services is primarily related to the following indicators, which clearly indicate the role of the human factor: the timeliness of medical care; the correctness of the choice of methods of prevention, diagnosis, treatment and rehabilitation when providing medical care; the degree of achievement of the planned result. Social quality - is the quality of culture, which is formed by the behavior and position of medical personnel towards patients. Employees must know not only the technology of providing medical care, but also the rules of interaction and behavior with patients. The human factor plays an important role in the provision of medical care. Medical personnel give priority to obtaining new knowledge in the profile direction. The safety mechanism of medical activities and internal quality control are associated with the development of a corporate culture of medical service quality and safety. The goal of creating a competence center is to accumulate and promote the dissemination of positive experience in the field of quality management to medical organizations. Regular training of personnel should promote the development of skills in business communication, consultation, conflict resolution, and professional competence.

STRATEGIC MANAGEMENT DISCOURSE OF TOP-LEVEL MANAGERS: AN ANALYSIS OF THE MARITIME INDUSTRY IN TÜRKİYE

In today’s globalised and technologically advanced business landscape, businesses experience various challenges in securing future success. The maritime industry is among the sectors profoundly impacted by global shifts, necessitating decision makers to enhance and adapt their strategic management practices to navigate these challenges effectively. Despite the crucial role of strategic management in the industry, the literature lacks sufficient documentation of decision makers’ perceptions, approaches and practices related to strategy. This study addresses this gap by analysing top managers’ strategic management discourse. Using a dataset of 68 published interviews, the authors employed deductive content analysis based on a novel strategic management keyword dictionary. This process identified 56 keywords categorised under six distinct themes: Government and Markets, Positioning, Performance, Growth, Technology, and Human Resources. The findings revealed that top managers in Türkiye’s maritime industry placed the greatest emphasis on the Government, Markets, and Positioning themes. While top managers’ strong awareness of global environmental challenges signalled the industry’s awareness of sustainability issues, the fewer codes in the ‘Human Resources’ and ‘Technology’ themes suggested top managers’ limited attention to the working environment, required skills, and management styles. Future research can expand on this study by incorporating additional maritime industry-related magazines and publications and provide broader perspectives.

Strategy-as-practice in Irish construction professional service firms (PSFs)

Much has been said around the dynamics/process of competition and gaining business advantage within the construction sector, however, much less investigation has gone into the practice-based elements of firms in the construction sector, particularly high knowledge intensive professional service firms(PSFs). The strategy-as-practice viewpoint is one of the most recent approaches to strategic management, which focuses on the people, practices and praxis elements of organisations. There is a lack of research on people within the construction industry who are the link between strategy practice (social, symbolic, and material tools and processes) and praxis (how strategic activity is accomplished). These people form the critical link between organizational and extra-organizational levels, making them a critical element in strategic analysis. The realization of strategic goals depends on these people, and for the strategy to be effective within construction organizations, it needs to be properly interpreted in the organizational context by these people. This study presents a unique strategy-as-practice lens of construction professional service firms (architectural, engineering, and surveying consultancies) using a sample of 27 Irish firms. The findings advance knowledge on the who (people) is involved in strategy within PSFs, what they engage in for strategizing (practices) and how they achieve the same (praxis).

Marketing intelligence and competitive advantage of small businesses in Lagos State

Every business entity wants to perform and have a reasonable position in the market and this could be achieved when the business entities have and transform information in their disposal. Thus, the study examined marketing intelligence and competitive advantage of small businesses in Lagos State. The study used descriptive research design and simple random sampling method. The study collected data from the primary source of data collection through the use of questionnaire as the research instrument. 381 copies of questionnaire were administered to the small business owners in Lagos State but 277 were returned and found usable. The regression analysis indicated that product intelligence has a positive and significant effect on competitive advantage of small businesses. Also, competitive intelligence has a positive and significant effect on competitive advantage of small businesses. The study concluded that marketing intelligence is a determinant to attainment of competitive advantage of small businesses in Lagos State. Thus, the study concluded that small businesses should continue to collect information about their product and process the information to achieve business objectives and the small business should continue to gathers and analyzes information about its industry, business environment, competitors, and products with the goal of directing their future strategy as to have performed better and have a position in the market.

ИССЛЕДОВАНИЕ МИРОВОГО РЫНКА ПРЕДОСТАВЛЕНИЯ ЭЛЕКТРИЧЕСКИХ УСЛУГ: АНАЛИЗ СЕКТОРА И ПРОГНОЗ НА ПЕРИОД С 2024 ПО 2030 ГОДЫ. АНАЛИЗ ТРЕНДОВ И ИЗМЕНЕНИЙ НА РЫНКЕ

The electric services market is an important segment of the economy, which has a sig-nificant impact on people's lives and the global economic system. However, signifi-cant changes and market growth are ex-pected in the period from 2024 to 2030. Global analysis and forecast reveal a num-ber of trends and dependencies that will help predict future trends and changes in the electric services market. These statis-tics will become necessary for manufactur-ers, suppliers and consumers of electrical services, as well as for financiers, scien-tists and business consultants working in this industry. Knowing the current market position and its opportunities for the future will help firms develop effective plans and make strategically important decisions that contribute to growth and successful estab-lishment in this volatile and competitive field. It is important to note that the global electric services market expects not only stable growth, but also the emergence of additional probabilities over the next dec-ade. This requires all stakeholders to be prepared for changes and adapt to new market demands and strategies. One of the main directions in the electric services market is the transition to reliable and re-newable energy sources. In light of the growing intellectual understanding of indus-trial equilibrium, more and more enterprises and consumers are choosing to use alter-native sources of electricity, such as solar and wind energy. All these technologies open up new opportunities for the devel-opment and implementation of innovative technologies in the production and distribu-tion of electrical services.

Entrepreneurial resilience in the face of crisis: A study of how entrepreneurs navigate economic uncertainty

This research explores entrepreneurial resilience as a critical determinant of business survival and growth in the face of economic crises. Focusing on small and medium enterprises (SMEs), it examines how entrepreneurs adapt to financial instability, market disruptions, and supply chain vulnerabilities caused by events such as the 2008 global financial crisis and the COVID-19 pandemic. By integrating concepts from resilience theory and crisis management, the study identifies strategies that enable entrepreneurs to sustain operations, manage stress, and innovate during challenging times. Using qualitative and quantitative methods, the study investigates financial recovery tactics such as cost control, resource reallocation, and external funding. It highlights the role of innovation, including digital transformation and product diversification, in fostering adaptability. Emotional resilience, leadership adaptability, and team cohesion are also explored as critical factors that support decision-making and motivation under pressure. The findings emphasize the importance of government interventions such as subsidies and grants in sustaining SME operations during crises. By linking entrepreneurial behaviour with organizational outcomes, the study offers actionable insights for policymakers, business advisors, and entrepreneurs. It concludes that entrepreneurial resilience is not only a survival mechanism but also a driver of long-term growth and competitiveness in turbulent economic environments.

Open-Source vs. proprietary LLMs: The battle for innovation and accessibility

Large language models (LLMs) are constantly developing technology primarily concerned with artificial intelligence and natural language processing. Controversy has been focused on the competition between open-source and proprietary degrees in LLMs: innovation and accessibility. Popular open-source models demand democratizing information processing, enabling the general public to access and develop elaborate AI systems. While the first model is built in the common interest, being open to the public, the second model has commercial interests in mind to achieve business advantage points, and models may be limited. This article draws to acquire insights into the principal differences between both approaches regarding technological advancement, ethical aspects, and industry and societal influence. Therefore, the research intends to examine the different motives behind LLM approaches and their outcomes on how the two approaches advance innovation, its accessibility and the future advancement of artificial intelligence.

Unlocking competitive advantage in emerging markets through advanced business analytics frameworks

Unlocking competitive advantage in emerging markets through advanced business analytics frameworks

Compliance Behavior in Environmental Tax Policy

This study examines compliance behavior in the context of environmental tax policies, highlighting the essential role that these policies play in achieving the objectives of the Sustainable Development Goals (SDGs). Environmental taxes are crucial instruments for reducing environmental damage and increasing energy efficiency. Nevertheless, taxpayer compliance, which is impacted by several variables, including social acceptability, regulatory quality, and perceptions of fairness, is a key component of these policies’ efficacy. In contrast to earlier research, which frequently concentrated on certain kinds of tax or discrete policy mechanisms, this study takes a broad approach, looking at a range of environmental taxation instruments. Emerging trends, significant factors influencing compliance behavior, and noteworthy contributions from eminent authors and organizations are all identified via bibliometric and scientometric analyses. To create fair and effective environmental tax policies, interdisciplinary approaches and international collaboration are required. Along with presenting policies to improve environmental regulation compliance, this study offers insightful advice for businesses that can help them innovate toward sustainability and adjust to shifting policy. It also provides a solid theoretical base for future researchers by highlighting important areas that require more investigation, especially when it comes to the wider effects of environmental taxes on various industries.

Digital Marketing Improvement to Achieve Awareness and Better Engagement for Holybags

Purpose: The study provides insight on the importance of Digital Marketing and its evolution which sees business today keep up eith the latest trends and explore new ways to promote products or services and achieve virality via social media deemed beneficial for business. Method: Qualitative methodology consist of observation, interviews, and direct involvement, was used during the consideration for social media optimization to facilitate Digital Marketing, which pertains to its aptness to closely enhance productivity. Practical Applications: This study presents how Digital Marketing through modern social media platforms can boost a reach, engagement, and consumer intention to make a purchase, thereby improving a business’s prospects moving forward. Findings from this study also indicate the potential advantages for businesses from parallel sectors. Conclusion: This study brings to light how prevalent Digital Marketing through social media has become in the modern age and how cost-effective and beneficial it can be for businesses looking to promote their products or services. Adopting current Digital Marketing strategies is crucial to connecting with the modern-day consumer and to establish a brand’s position in the market.

Impacts of a Short-Term International Engineering and Business Consulting Practicum

Increase in short-term programs is one of the biggest shifts in study abroad over the past twenty years. With prior research in this area showing many positive but also mixed impacts, skepticism persists about the ability of short-term study abroad to change students’ views on cultural differences. The aim of this study is to characterize if and how students’ views on cultural differences in the context of international client work change after a practicum-based faculty-led short-term study abroad program in Argentina. Twenty-four students who participated in the program responded to short-answer questions before and after the program. These responses were open-coded, and themes were identified. Results show that, before the program, students largely identified surface-level cultural differences from an ethnocentric perspective. After the program, students were more ethnorelative as evidenced by their discussing the deeper cultural context and values of Argentina and their willingness to adapt.

Various Sources of Financing for Advanced Businesses Including Bank Loans, Angel Investments, and Crowdfunding

Financing is one of the key factors in business development, especially in the advanced phase after the business has successfully passed the initial stage. In this stage, entrepreneurs are faced with various choices of financing sources to support business expansion, product innovation, and increase competitiveness. This research uses a qualitative descriptive method which uses an approach to study literature. This research aims to determine various sources of financing for advanced businesses, including bank loans, angel investment and crowdfunding and the challenges of each source of financing based on existing literature. By understanding the characteristics of each source of financing, entrepreneurs can make more informed decisions in choosing financing alternatives that best suit their business needs.

Optimalisasi Pengawasan Kinerja Karyawan Business Consultant PT XYZ : Implementasi Sistem RACI Melalui Project Google Spreadsheet

Employee performance monitoring is one of the key factors in human resource management, especially in a dynamic business sector such as futures trading. PT XYZ, a company engaged in futures trading, faces challenges in managing the performance of Business Consultants (BC) which often arise due to lack of clarity in the division of tasks, lack of accountability, and ineffective coordination. This study aims to optimize employee performance supervision at XYZ through the implementation of the RACI (Responsible, Accountable, Consulted, Informed) system integrated with Google Sheets. The research method used is qualitative with a case study approach, where in-depth interviews, observation, and documentation are used to collect data from employees and project managers who are directly involved. The results showed that the RACI system through Google Spreadsheet can clarify employee roles and responsibilities, increase accountability, and facilitate real-time performance monitoring. The modification of the RACI matrix in this spreadsheet also makes it easier for management to improve team collaboration and productivity. Despite technical challenges in its implementation, the system proved effective in optimizing team performance and communication.

Embracing occupational history: A doctoral research study investigating the career aspirations of older workers

What are the career aspirations of older professional workers in business advisory services? How does their career history influence their aspirations as they navigate toward retirement? These are the principal questions underlying the doctoral research programme showcased in this article. In contemporary society the concept of retirement is being challenged as the population ages and the government review their social strategies. ‘Traditional’ career pathways of older professional workers reflected an ascendant career which embraced their expertise and service, but now, with continuing organisational turbulence, some face a changing environment where their career path looks less certain. This article illustrates some of the main issues facing a new doctoral researcher; it is written at the beginning of the second year of research and addresses some critical questions that a new researcher needs to consider when they set out on their research journey. This reflective article takes Rudyard Kipling’s (1902) ‘six honest servingmen (sic)’ as its framework.