Business Context Research Articles

Landasan Filosofis Hukum Ekonomi Syari'ah dan Relevansinya dalam Pengembangan Strategi Marketing

Abstract: This research aims to investigate the legal and philosophical foundations of Syari’ah economics and its relevance in the development of marketing strategies. Syari’ah economics has unique philosophical underpinnings, involving Islamic principles, ethics, and social justice. In the business context, applying Syari’ah economic law brings financial benefits and positively impacts the company's image and customer trust. This research is a qualitative approach that uses literature analysis and descriptive studies, relevant data are collected through a comprehensive literature study, then identified and analyzed with a thematic analysis approach. The results of this study provide a better understanding of how the principles of shari'ah economic law can be applied in the development of a successful marketing strategy. It is hoped that this journal can provide insights to business practitioners, researchers, and policymakers on the potential of the Syariah economy and how to apply it to achieve success in marketing.

Social Systems as Moral Agents: A Systems Approach to Moral Agency in Business

AbstractIn the context of business, interactions between individuals generate social systems that emerge anywhere within a corporation or in its relations with external agents. These systems influence the behaviors of individuals and, as a result, the collective actions we usually attribute to corporations. Social systems thus make a difference in processes of action that are often morally evaluated by internal and external agents to the firm. Despite this relevance, social systems have not yet been the object of specific attention in the literature on moral agency in business. To fill this gap, I construct a theoretical framework based on Luhmann’s ideas on social systems and morality. In particular, I argue that morality is a phenomenon that occurs in communication, and an agent can engage in morality in three different ways (as a moral factor, an expressive moral agent, or a reflective moral agent) depending on the functions it plays in communicative interactions. Based on this framework, I argue that social systems in business can be considered moral agents of those types.

Consumer happiness and sustainable consumption

AbstractScholars have paid increasing attention to consumer happiness and sustainable consumption, but their findings have not been subject to a systematic review in a business context. We used the SPAR‐4‐SLR framework to fill this gap. Our content analysis of 36 articles allowed us to identify three principal themes—well‐being beyond consumption, the dilemma of ethical consumption, and consumers’ willingness to pay for sustainability—and pinpoint the relationship between consumer happiness and sustainable consumption. The results show that sustainable consumption leads to consumer happiness, that, consumers are happy to consume less, and that they are willing to pay more for sustainability. The findings, which complement those of previous studies, could be used by marketers to devise strategies that encourage sustainable consumption and satisfy consumers.

Does self and role efficacy navigate effectiveness among MSME managers? A process-based perspective

PurposeThe paper aims to propose and validate a process-based model to enhance managerial effectiveness among micro, small and medium enterprises (MSMEs). It has been observed that business uncertainties and inadequate financial resources that MSME entrepreneurs and managers face require them to constantly engage in strong self-awareness and self-regulating behavior to enhance the efficacy in their roles and, henceforth, their role performance effectiveness.Design/methodology/approachThe approach for data collection was based on the clustering of MSMEs belonging to the clusters machine tool, pump manufacturing, foundry, textile and auto-component clusters in India. The respondents to the study were MSME entrepreneurs and managers who oversee and manage multiple functions like operations, quality, marketing, sales, supply chain management, procurement, personnel and administration and general administration.FindingsThe self-efficacy of entrepreneurial managers of MSMEs is observed to play an integral role in enhancing the efficacy of their roles, thus highlighting the use of a process-based perspective while dealing with constant resource constraints and excessive dynamism in their business contexts. The ability to handle multiple tasks effectively and resilience to manage challenges enhances their role-making process, which is significant in achieving and sustaining goal-oriented behavior among MSME entrepreneurs and managers.Practical implicationsThis paper would serve as an effective model for entrepreneurs and managers to enhance their efficacy in the individual and interdependent role context, which would help achieve their individual and organizational goals. The model emphasizes a process-based perspective that thrusts the need to relate to the organizational context, enhancing individual confidence for goal-related behavior and fulfilling their role-related expectations.Originality/valueThis paper presents a model of enhancing managerial effectiveness that discusses self-efficacy as antecedent behavior. Here, personal and environmental factors aid cognition to one’s capability to construct reality, self-regulate, encode information and engage in effective managerial action.

Chatbot Design and Implementation: Towards an Operational Model for Chatbots

The recent past has witnessed a growing interest in technologies for creating chatbots. Advances in Large Language Models for natural language processing are underpinning rapid progress in chatbot development, and experts predict revolutionary changes in the labour market as many manual tasks are replaced by virtual assistants in a range of business functions. As the new technology becomes more accessible and advanced, more companies are exploring the possibilities of implementing virtual assistants to automate routine tasks and improve service. This article reports on qualitative inductive research undertaken within a chatbot development team operating in a major international enterprise. The findings identify critical success factors for chatbot projects, and a model is developed and validated to support the planning and implementation of chatbot projects. The presented model can serve as an exemplary guide for researchers and practitioners working in this field. It is flexible and applicable in a wide range of business contexts, linking strategic business goals with execution steps. It is particularly applicable for teams with no experience in chatbot implementation, reducing uncertainty and managing decisions and risks throughout the project lifecycle, thereby increasing the likelihood of project success.

Strategic turnaround: unraveling the impact of CEO power on firm performance during retrenchment

Purpose This paper aims to investigate the impact of retrenchment strategy on firm performance in the context of Pakistani firms while considering the moderating role of chief executive officer (CEO) power. By examining the influence of CEO duality and CEO share ownership on the relationship, this study contributes to strategic management and corporate governance knowledge within the Pakistani business environment. Design/methodology/approach A quantitative approach was used to analyze the relationship using data from annual financial statements. The sample consisted of 76 companies from the KSE-100 index from the year 2015 to 2020. Random effects regression models were used, along with hierarchical regression to explore the moderating effect of CEO power. Findings The findings demonstrate that the implementation of a retrenchment strategy positively impacts firm performance in Pakistani firms. The study also reveals that CEO power plays a crucial role in strengthening the relationship between retrenchment strategy and firm performance. Moreover, the study highlights the importance of considering the temporal sequence, size and age of firms when examining the impact of CEO power and retrenchment strategy on firm performance. Research limitations/implications The study enhances the understanding of the contingent nature of retrenchment strategies and the influence of CEO power in the Pakistani business context. Practically, the research contributes to strategic management and corporate governance dynamics, facilitating the development of strategies that enhance firm performance and sustainability in Pakistan. Originality/value This research provides original insights by specifically focusing on the Pakistani context and analyzing the interplay between retrenchment strategy, CEO power and firm performance. The study adds to the limited literature on the relationship between retrenchment and performance in the Pakistani business environment. Additionally, it highlights the significance of CEO power as a critical factor in determining the success of retrenchment.

A prescription for efficiency: optimizing the surgical item inventory management practices in a healthcare facility

PurposeThe primary objective of this article is to examine current procurement, inventory control and management practices in modern healthcare, with a particular focus on the procurement and management of surgical supplies in a prominent public, highly specialized healthcare sector.Design/methodology/approachThis study was conducted in three phases. In Phase 1, the study team interacted with various hospital management stakeholders, including the surgical hospital store, examined the current procurement process and identified challenges. Phase 2 focused on selecting items for a detailed study and collected the qualitative and quantitative details of the store department of the healthcare sector chosen. A detailed study analyzed revenue, output/demand, inventory levels, etc. In Phase 3, a decision-making framework is proposed, and inventory control systems are redesigned and demonstrated for the selected items.FindingsIt was observed that the demand for many surgical items had increased significantly over the years due to an increase in disposable/disposable items, while inventories fluctuated widely. Maximum inventory levels varied between 50 and 75%. Storage and availability were important issues for the hospital. It is assumed the hospital adopts the proposed inventory control system. In this case, the benefits can be a saving of 62% of the maximum inventory, 20% of the average stock in the system and optimal use of storage space, improving the performance and productivity of the hospital.Research limitations/implicationsThis study can help the healthcare sector administration to develop better systems for the procurement and delivery of common surgical items and efficient resource allocation. It can help provide adequate training to store staff. This study can help improve management/procurement policies, ordering and delivery systems, better service levels, and inventory control of items in the hospital business context. This study can serve as a pilot study to further investigate the overall hospital operations.Practical implicationsThis study can help the healthcare sector administration develop better systems for procuring and delivering common surgical items and efficient resource allocation. It can help provide adequate training to store staff. This study can help improve management/procurement policies, ordering and delivery systems, better service levels and inventory control of items in the hospital business context. This study can serve as a pilot study to further investigate the overall hospital operations.Originality/valueThis study is an early attempt to develop a decision framework and inventory control system from the perspective of healthcare inventory management. The gaps identified in real hospital scenarios are investigated, and theoretically based-inventory management strategies are applied and proposed.

UTAUT model in explaining intentions and actual behavior of e-accounting users: A literature review

The rapid integration of information technology in Indonesia has led to a notable dependence on technological solutions, notably e-accounting, within business operations. However, many Micro, Small, and Medium Enterprises (MSMEs) continue to rely on manual processes, highlighting the need to understand factors influencing the adoption of e-accounting. Utilizing the Unified Theory of Acceptance and Use of Technology (UTAUT) model, this study aims to examine the impact of performance expectancy, effort expectancy, social influence, and facilitating conditions on the intention to use e-accounting among MSMEs. By synthesizing existing literature, the study underscores the importance of user experience and ease of use in the adoption of e-accounting solutions. Additionally, it emphasizes the role of social influence mechanisms, such as media exposure and customer relationships, in facilitating adoption and sustained utilization. The findings suggest that enhancing performance expectancy through user-centric design and addressing effort expectancy concerns can encourage MSMEs to embrace e-accounting. Moreover, fostering facilitating conditions and leveraging social influence can further bolster adoption rates. Therefore, understanding and addressing the factors influencing e-accounting adoption among MSMEs are essential for realizing the potential benefits of technology integration in Indonesian business contexts. By emphasizing usability and social influence, policymakers and stakeholders can promote the widespread adoption of e-accounting, thereby enhancing efficiency and competitiveness within the MSME sector.

Assessment for employability: Is synoptic assessment the answer?

The production of job ready graduates remains one of the key requests of the business community. The purpose of this paper is to re-examine the importance of assessment in developing employability skills and in making graduates more employable. One criticism often levied at higher education institutions, is that students understand ideas in subject context, but cannot transfer that knowledge into a holistic business context. As such, they have silo ‘mentality’, when to be successful in the modern complex working and business environment they need to understand and command multiplicity. As a conceptual paper, this article seeks to discuss the importance and relevance of assessment and its links to employability. The paper provides a case for the inclusion of synoptic assessment as a tool for developing and demonstrating employability skills. The article emphasises the importance of employability and surrounding issues. The paper provides originality through linking the concepts of education and assessment with the end goals of job-readiness and employability. This paper argues for a new approach to assessment which is employability driven.

Money or fit? The tradeoff of intrinsic and extrinsic variables in hospitality managers' job choice

With the hospitality industry facing an ongoing labor shortage exacerbated by the pandemic, this study extends research on job applicants' preferences for job offers, drawing primarily from the person-environment fit theory. It focuses on understanding the importance of entry-level salary, person-job (PJ) fit, and person-organization (PO) fit within the context of hospitality businesses. Using a two-phase model that unifies and extends the job choice of single-attribute and multiple-attribute job offers, this study uses mixed ANOVA analyses to test the proposed hypotheses. Our main result shows that job applicants experiencing high perceived financial stress are more likely to accept the job offer with both PJ fit and PO fit when compared to (a) the job offer with a higher entry-level salary and PJ fit and (b) the job offer with a higher entry-level salary and PO fit. Based on these findings, several theoretical and empirical implications are discussed.

Book Review: "Research Methods for Business Students" (Eighth Edition) by Mark N. K. Saunders, Philip Lewis, and Adrian Thornhill (Pearson Education, 2019)

Mark Saunders, Philip Lewis, and Adrian Thornhill's book "Research Methods for Business Students" provides a comprehensive guide for students and researchers involved in business and management research. It offers a pragmatic approach, clear explanations, and a wide array of research methods suitable for both novice and seasoned researchers. The book extensively discusses various research methodologies, including quantitative, qualitative, and mixed methods, providing detailed descriptions to help readers choose the most appropriate approach for their research objectives. The book delves deeply into specific research approaches like experiments, surveys, case studies, and ethnography, helping readers comprehend their utility and implications. A notable strength of the book lies in its emphasis on ethical considerations throughout the research process. The authors address ethical issues related to access negotiation, consent acquisition, and data management, preparing readers to navigate ethical challenges in modern research environments effectively. Furthermore, the book offers practical insights into data collection and analysis techniques, with chapters dedicated to sampling, secondary source utilization, observations, interviewing, questionnaire design, and data analysis, all explained step by step with clear illustrations. The book engages readers through theoretical frameworks, conceptual discussions, and real-world examples, enhancing their understanding of key research concepts like validity, reliability, and generalizability. By integrating case studies and detailed examples from various organizational contexts, the book illustrates how research methods are applied in practice. The authors' ability to convey complex subjects in an accessible manner ensures that readers from diverse backgrounds can grasp the material effectively. The practicality and relevance of "Research Methods for Business Students" to the business context set it apart, as it presents real-world examples and case studies from various industries. It emphasizes the importance of keeping abreast of the latest developments in research methodologies, ensuring the content remains useful and current for students and scholars. In conclusion, "Research Methods for Business Students" is an invaluable resource for individuals embarking on business and management research. Despite minor limitations, the book equips readers with essential knowledge and skills, fostering responsible and effective research practices within the business domain. Through its practical approach, comprehensive coverage, and engaging style, the book empowers readers to conduct high-quality research and make meaningful contributions to the field of business studies.

Assessing Strategic Business and IT Alignment: Validation of a Novel Model across Moroccan Enterprises

Strategic alignment between Business and IT remains a critical factor for organizational effectiveness, but measuring it often presents a complex challenge. This paper evaluates the model we proposed in previous work to measure the degree of alignment between Business strategy and IT initiatives. We applied the model to a selection of Moroccan companies. We compared the alignment scores obtained with those from the established Strategic Alignment Maturity Model (SAMM) using Cohen’s Kappa and simple linear regression for comparative analysis. This study demonstrates our model’s effectiveness in evaluating continuous scores and provides substantial concordance in categorical maturity assessments. Our validation confirms that our model can apply to various business contexts, paving the way for further refinement to evaluate business-IT alignment strategies.

Enhancing Customer Experience: Trends, Strategies, and Technologies in Contemporary Business Contexts

Enhancing Customer Experience: Trends, Strategies, and Technologies in Contemporary Business Contexts

The Power of Education: How Individuals and Organizations Shape the Future

This article aims to explain and empirically prove that human resource management processes and practices influence individual and organizational performance, significantly contributing to the advancement of education in an organizational context. The reliability test was used to measure the level of internal consistency of the construct; Correlation analysis and OLS regression models were used to test the hypothesis. Questionnaires were distributed to 607 employees from 41 companies. The analysis shows that individual and organizational performance grew proportionally to the human resources selection process. There was a strong correlation between individual performance and education/training; a weak correlation between employee compensation and organizational performance; and a moderate correlation between individual performance and career development. Variables such as workforce competencies, motivation, and effective work structures had a strong effect on organizational performance. Based on the findings, we strongly recommend and encourage all companies in this study and beyond to develop a strategic plan to successfully guide their employees and implement processes and practices that improve individual and organizational performance, thus enhancing education in the business context. In the Balkan countries, especially in Kosovo, there is a lack of research on human resource management practices and processes. Therefore, this study will assist organizations in their efforts to improve HRM processes and practices, contributing to a better understanding and implementation of education strategies in organizational settings in this region.

Circular economy in business, management, and accounting: A bibliometric study of the construct

Context. Studying and applying the Circular Economy (CE) is becoming a trend and its presence is increasing as a business model that can balance achieving business objectives and preserving the well-being of future generations through the company's positive impact on the environment.
 Problem. This study is crucial for understanding the global landscape of CE research, pinpointing influential factors in highly cited works, and guiding future research initiatives. The findings will contribute to shaping the direction of academic endeavors in Circular Economy and supporting informed decision-making for researchers, policymakers, and practitioners invested in sustainable practices. The research aims to investigate the evolution of CE research in key geographic regions, understand the pivotal drivers and performance measures influencing the most cited research articles in this domain, and identify crucial future research directions. "The research problem aims to investigate a central question and its specific dimensions. The primary inquiry is: 'How has the field of Circular Economy (CE) evolved and become more significant, particularly about business models and increasing environmental awareness?' This general question is then broken down into three specific research questions: How has the volume of CE research evolved based on key geographic regions? What types of key CE drivers and performance measures relate to the most cited research articles? What are the most important future research directions in the field of CE research?
 Purpose. The main purpose of this research was to further examine the study methods of the Circular Economy, specifically within the fields of business, management, and accounting. The goal was to highlight the current trends and directions of research related to the CE. This information is intended to guide current and future research on key issues in corporate sustainability.
 Methodology. The process used as a method is through a bibliometric review of scientific articles on CE published in the Scopus database, analyzing the period from 2008 to 2023. Co-occurrence maps of circular economy keywords, titles and summaries were created. Representation networks were carried out with the bibliometric analysis software VOSviewer, version 1.6.8 (Van & Waltman, 2018).
 Theoretical and Practical Findings. The main theoretical contribution revealed a significant and steadily accelerating volume of academic interest in the field of CE and its relevance on business contexts. And, as a practical contribution, it was found that future research should focus not only on quantitative bibliometric analysis but also on the qualitative aspects to fully comprehend the development and direction of this crucial field.
 Transdisciplinary and sustainable innovation originality. The proposed research is valuable and innovative because it acknowledges that the discourse on CE is not a static field but an evolving conversation. This evolution is shaped by the ongoing interaction of research, business practices, policy-making, and societal needs. Recognizing the dynamic nature of the CE conversation, the proposed research aims to make a significant contribution by monitoring and analyzing emerging trends.
 The ability to adapt and respond to the ongoing interactions between research, business practices, policies, and societal needs ensures that the findings of this research are relevant and applicable in a constantly changing context. Furthermore, the research goes beyond merely analyzing the evolution of the CE conversation; it also seeks to identify the key factors driving it. By highlighting these fundamental drivers, the research can shed light on critical areas that require attention and guide the future development of the CE.
 Conclusions and limitations. Therefore, the increasing pace of publications and citations signals not only the growth of the field but also the increasing urgency and significance of transitioning towards a CE in a world grappling with the dual challenge of economic development and environmental sustainability.

Host-country climate risk and the expansion of emerging market firms: a strategic tripod application

ABSTRACT Climate risk is a pressing global concern that affects multinational enterprises in manifold ways. Yet this has received less attention in international management literature. To address the gap, this study examines the impact of climate risk on the expansion and performance of emerging multinational enterprises (EMNEs) and tests the moderating effects of industry and institutional factors on the relationships. Using a dataset comprising the international acquisitions initiated by MNEs from emerging markets in 1998–2018, we find that host-country climate risk negatively affects the firms’ expansionary entries and is detrimental to firm performance. In addition, we find that firms from high-polluting industries are likely to show greater environmental awareness and increase their commitment to climate-risk countries. At the country level, our results show that home-host country political ties reduce the negative impact of climate risk on firms’ expansion and performance. The findings contribute to the literature on environmental management in an international business context and offer important practical implications for managers and government agencies.

Blockchain for Distributed Systems Security in Cloud Computing: A Review of Applications and Challenges

The blockchain is a technology that utilizes a decentralized and distributed ledger system to enhance security in cloud computing for distributed systems. It has gained significant attention in various applications, including the Internet of Things (IoT) and cloud computing. However, the blockchain has scalability limitations that restrict its ability to handle different types of transactions effectively. On the other hand, cloud computing provides the availability of shared computer system resources on demand, but it faces challenges related to automation, process management, policy, and others. By combining blockchain technology with cloud computing in a unified system, it is possible to improve data integrity, resource management, pricing, fair compensation, and resource allocation. This article examines the applications and challenges of blockchain, emphasizing how it ensures data integrity, transparency, and resistance to tampering. It also explores various use cases to address obstacles like scalability issues and interoperability concerns, providing a comprehensive overview of the intersection between blockchain, distributed systems, and cloud computing security. The integration of cloud computing and blockchain is important for business applications because it offers advantages in terms of privacy, security, and service support. This review provides an extensive and up-to-date summary of the integration of cloud computing and blockchain, highlighting its significance in business contexts.

Automating Feature Extraction from Entity-Relation Models: Experimental Evaluation of Machine Learning Methods for Relational Learning

With the exponential growth of data, extracting actionable insights becomes resource-intensive. In many organizations, normalized relational databases store a significant portion of this data, where tables are interconnected through some relations. This paper explores relational learning, which involves joining and merging database tables, often normalized in the third normal form. The subsequent processing includes extracting features and utilizing them in machine learning (ML) models. In this paper, we experiment with the propositionalization algorithm (i.e., Wordification) for feature engineering. Next, we compare the algorithms PropDRM and PropStar, which are designed explicitly for multi-relational data mining, to traditional machine learning algorithms. Based on the performed experiments, we concluded that Gradient Boost, compared to PropDRM, achieves similar performance (F1 score, accuracy, and AUC) on multiple datasets. PropStar consistently underperformed on some datasets while being comparable to the other algorithms on others. In summary, the propositionalization algorithm for feature extraction makes it feasible to apply traditional ML algorithms for relational learning directly. In contrast, approaches tailored specifically for relational learning still face challenges in scalability, interpretability, and efficiency. These findings have a practical impact that can help speed up the adoption of machine learning in business contexts where data is stored in relational format without requiring domain-specific feature extraction.

Comprehensive Literature Review of Customer Experience Paradigms

This paper aims to explore customer experience extensively within the existing literature. Commencing with a critical examination of the current landscape and the controversies it encapsulates, the paper will focus on diverse definitions of customer experience and its constituent elements such as touchpoints, individual context, and discrete emotions. Subsequently, an evaluative review of the arguments employed to measure customer experience will be presented, emphasizing their differentiation from crucial marketing metrics. Lastly, the paper will culminate in a synthesis that addresses the primary research lacunae in this field. We benefit from a more detailed exploration of how these differing perspectives impact the practical application of customer experience strategies in marketing or business contexts. This further enhances the understanding of why reaching a consensus on its definition remains challenging and why various interpretations persist.

The Convergence of Corporate Sustainability and Social Responsibility in Modern Business Contexts: A Bibliometric Analysis

Abstract Global challenges such as climate change, the Covid-19 pandemic, and geopolitical instability have driven organizations to embed sustainability into their strategies and operations, moving away from the profit-driven mindset to a broader emphasis on societal value. Sustainability, today a widespread concept in academia and business, requires balancing social, environmental, and economic responsibilities to achieve long-term success. Embracing the Triple Bottom Line (TBL) model, organizations aim for profit while also positively impacting society and the environment. However, there is a prevailing tendency to emphasize rights over responsibilities, a pattern that needs to shift in order to promote sustainability. This paper contributes to the body of knowledge on corporate sustainability by exploring its relationship with social responsibility. A bibliometric analysis was conducted on a sample of 9,378 documents processed using VOSviewer. The study examines the interplay between sustainability, social responsibility, and corporate sustainability, mapping out key concepts and visualizing their networks. Furthermore, the links to other key themes such as performance, management, innovation, strategy, governance, supply chain management, leadership, stakeholders, and others were also explored. Social-responsibility disclosure was also found to be an emergent topic in terms of organizational accountability and transparency.