Business Environment Research Articles

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.

The effects of absorptive capacity on competitive intelligence in a turbulent market

ABSTRACT The business environment of small and medium-sized enterprises’ (SMEs) is becoming increasingly unstable and unpredictable because of fierce competition and a turbulent marketplace. This study examines the role of absorptive capacity as an antecedent of competitive intelligence and assesses the moderating effects of market turbulence and competitive intensity in this relationship. Data were collected from 140 manufacturing firms in Quebec and analysed by using partial least squares structural equation modelling (PLS-SEM). The results reveal that absorptive capacity positively influences competitive intelligence; moreover, market turbulence and competitive intensity are conditional factors that affect competitive intelligence activity. Directions for future research and managerial implications are further discussed.

WANITA PENGUSAHA CERDAS BERSOSIAL MEDIA MENGEMBANGKAN UMKM FASHION

Along with the excellent development of Indonesia's fashion industry, business competition is currently heating up. Concurrently, micro, small, and medium-sized enterprises (MSMEs) are expanding at a rapid pace, particularly in Surabaya. In order to thrive in today's cutthroat business environment, it is crucial to devise strategies for business development. One of the fashion-related businesses in Surabaya that sells hijab items is Cuties Hijab. Cuties Hijab product sales continue to be highly unpredictable and have even been known to fall as the company has progressed. The company's stagnating position and low product sales are the consequence of multiple challenges, including insufficient human resources and weak product promotion. This situation provides context for why this study is important; its goal is to analyze internal and external issues affecting Cuties Hijab in order to formulate an appropriate strategy for the company's future growth. Qualitative descriptive research is employed. Primary data comes from in-depth interviews, while secondary data comes from a variety of sources like books, records, and the internet. The IFE Matrix, QSPM, IE, SWOT, and IFE are the analytical tools that are utilized. According to the findings from the strategy analysis conducted at the decision-making stage, the market penetration strategy is the best course of action for Cutis Hijab.

THE ELECTRONIC TRADING OF WAREHOUSE RECEIPTS ON GLOBAL AGRICULTURAL EXCHANGES. CONCLUSIONS FOR POLAND

The aim of the study is to assess the use of Electronic Warehouse Receipt (EWR) as an instrument to support the trade of agricultural raw materials on global agricultural markets, to analyze the possibilities and potential of introducing this system in Poland, as well as to initiate a discussion on the restoration of the system of licensed storage and electronic warehouse receipt. Statistical data published by the Futures Industry Association and data obtained from commodity exchanges, as well as available literature, were used as source material. The analyses carried out show that a properly implemented EWR provides a proven solution to problems occurring in the food economy: the financing of current operating costs of running a farm and farm liquidity, and the financing of trade between participants in the supply chain. For a EWR system to be successful, it is necessary to understand the value chain, market and business environment. It is also important to assess risk, competitiveness, relationships and processes, justification and financing needs of chain participants. Thanks to this approach, a warehouse receipt can constitute loan security for all participants in the value chain, following the goods. Dematerialization of the warehouse receipt enables the takeover of trading in this document by a licensed exchange, and thus enables not only trading in a futures instrument, as on the CBOT or MATIF exchange, but also in a cash instrument with physical delivery, as on the TMEX or e-NAM exchange. The warehouse receipt system in Poland has been abolished, but the problems it solves remain. Taking into account the advantages of the warehouse receipt system, it should be restored in Poland to provide the agricultural sector with effective and proven solutions.

Modelling resilience dynamics for smart manufacturing systems: quantification and empirical analysis

ABSTRACT Smart manufacturing contributes to a better management of uncertainties and risks in today’s business environment, leading to a more resilient system. Despite its significance, the quantification of resilience in manufacturing environments is not well developed and is considered a pressing research gap. This study introduces a novel approach for assessing resilience through the development of a mathematical model for smart manufacturing systems. The sensitivity and applicability of the proposed model are investigated through simulation-based experimentation. The results demonstrate the level of resilience with the adaptability of smart manufacturing technologies. Interestingly, the trigger point derived from the simulation results is an indicator of the threshold limit for effective implementation of smart manufacturing technologies for the desired system resilience. The research provides a tool for decision-makers in industry that are considering investing in smart manufacturing solutions to increase their operational resilience. Decision-makers can design the deployment of smart manufacturing systems based on an informative trade-off to maintain the required resilience capabilities and achieve a competitive edge in the market.

Development of a conceptual model on I4.0 technologies’ influence on SCR

Purpose In a dynamic and uncertain business environment, it is necessary for companies to adapt to be capable of addressing the changing circumstances and ensure business continuity. Hence, companies are employing advanced Industry 4.0 (I4.0) technologies. This study aims to explore the role of advanced I4.0 technologies in facilitating companies’ development towards supply chain resilience (SCR).Design/methodology/approach The study adopted a structured approach of Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) to identify 234 articles. Under PRISMA, we adopted a three-phase methodology of planning, conducting and reporting the review results. The data of these articles were synthesized using a Scopus database to investigate the relationship between I4.0 technologies and SCR.Findings The study’s findings map the technologies appropriate in different supply chain nodes and bridge the literature gap in the intersection of I4.0 technologies and SCR. The study results indicate the role of I4.0 technologies role in achieving resilience in key functions of an organization through an I4.0 technologies-enabled sourcing, manufacturing, distribution and return resilience (I-SMDRR) framework. The I-SMDRR framework also depicts the relationship being moderated by internal and external risk factors.Originality/value The study offers a unique framework by mapping sourcing, manufacturing, distribution and return resilience through I4.0 technologies. Additionally, the review delineates the theory-mapped research gaps helpful for future researchers. In summary, this systematic review of the literature identifies the components that lead to developing SCR.

Continuous learning in SMES: the mediating role of resilient dynamic capabilities across the firm life cycle

Purpose Small and medium-sized enterprises (SMEs) are critical in the global business environment, yet they face significant challenges of survival. This study aims to investigate the role of continuous learning and resilience dynamic capabilities (RDC) on SME performance. Design/methodology/approach The authors conducted a quantitative survey of leaders from 290 SMEs to examine the relationship between continuous learning and performance. Structural equation modeling (SEM) is used to test the dependent relationships in this study. In addition, the Monte Carlo Method is used to test the mediating effect of RDC. Findings The results suggest that there is a direct effect of continuous learning on firm performance, as well as an indirect effect through RDC. In other words, the effect of continuous learning on firm performance was partially mediated through RDC. Originality/value The authors also explored whether firm life cycle stage matters regarding the role of continuous learning and RDC in SMEs. The mediating role of RDC becomes more pronounced (fully mediated) as SMEs transition from the growth stage to maturity stage of their life cycle.

Інституційна структура радянської економіки та її роль у формуванні економічної спадщини України

The article is devoted to the historical and economic analysis of the key determinants of the institutional structure of the planned and distributed economy and their influence on the formation of the economic heritage of Ukraine. The purpose of the study is to summarize the main trends in the evolution of the institutional structure of the Soviet economy and to determine its role in the formation of the «track effect» in the economic development of Ukraine. The article reveals the historical prerequisites of the institutional breakdown and the formation of the Soviet socialist economy, and characterizes the peculiarities of its institutional structure at various historical stages. The author reveals the mechanism of interaction between formal and informal institutions and their role in the economic development of the planning and distribution system of management. Defined the institutional features of the formation and functioning of the mobilization economy and the system of centralized state management of economic processes. The impact of the economic reforms of the 1950s and 1960s on the strengthening of the communicative value of horizontal economic ties and the formation of the «administrative market» as a matrix of the shadow economy has been established. Revealed the main distortions of the institution of property, the essence of power-property relations, the reasons for their rooting, and the economic consequences of its functioning. The author identifies the role of the Soviet institutional heritage in the distortions of the Ukrainian business environment and the risks of the emergence of the «historical rut» effect in the institutional development of the Ukrainian economy. Substantiated the conclusion about the advisability of a limited application of mobilization methods of economic management in the post-war economic revival and the need to develop state policy measures aimed at strengthening the institution of private property, protecting the rights of owners, overcoming corruption and establishing social control over the distribution of economic power and responsibility.

More Quality, Less Trust?

This study investigates how an increase in the quality of business ventures, measured as their success probability, affects trust and return on investment (ROI) in situations where the investor–entrepreneur interaction is affected by moral hazard and asymmetric information. We model a repeated trust problem between investors and entrepreneurs, featuring moral hazard and adverse selection. Hidden Markov techniques and computer simulations are used to derive the main results. We find that trust and ROI may decline as quality improves. Although lenders tend to reduce the requirements for granting initial credit, they nevertheless become less tolerant of current borrowers who fail to pay back. Additionally, we demonstrate a novel substitution effect, where lenders prefer new borrowers over existing borrowers that experienced early failures. The main conclusions of our study are that while impressing early on is effective in gaining first access to credit, it may nevertheless hurt the cause of getting credit in subsequent periods, following an early failure. In business environments plagued with ex post moral hazard, entrepreneurs might do better by gaining trust first and impressing later. Furthermore, our results imply that in a thriving economy, not only are bad loans made, but good loans are lost as well.

Assessing the contribution of SADC rules of origin to the growth and survival of the manufacturing industry in Zimbabwe

This study investigates the contribution of the Southern African Development Community's (SADC) Rules of Origin (RoO) to the growth and survival of manufacturing industries in Zimbabwe. The study adopted a qualitative approach and used purposive sampling to select the interviewees. Data obtained from interviews and through documentary review was thematically analysed. The study found that several critical challenges are hindering the effective utilisation of RoO. Foremost among these is a pervasive lack of knowledge and understanding of RoO requirements across all sectors of the Zimbabwean economy. This knowledge gap is compounded by cumbersome administrative and accounting requirements necessary to meet origin criteria, creating significant compliance burdens for manufacturers. Additionally, the poor economic performance of Zimbabwe has negatively impacted the ability of industries to leverage the benefits of SADC RoO, further impeding their competitiveness within the SADC Free Trade Area (FTA). The study recommended comprehensive awareness and training programmes to educate stakeholders on RoO, simplification of administrative processes to reduce compliance costs, and broader economic reforms to improve the overall business environment. Furthermore, it advocates for the establishment of support services to assist industries in navigating RoO requirements, and the enhancement of regional cooperation to facilitate smoother trade flows. .

Influences of emotional intelligence on resilience in the South African entrepreneurial sector: a systematic literature review

The South African entrepreneurial sector is essential to the country's economic growth, job creation, and innovation. South African entrepreneurs encounter competitive business environment, limited resources, and socioeconomic gaps. Building resilience is critical for them to overcome challenges, adapt to change, and sustain their businesses in the face of adversity. This paper aims to explore the connection between resilience and emotional intelligence in the context of South African entrepreneurship. A systematic literature review and text analysis was carried out. This systematic literature analysis analysed 37 peer-reviewed sources that explored the impact of emotional intelligence on resilience in the South African entrepreneurial sector. Textual analysis was used to discover themes, patterns, and implications for increasing entrepreneurial resilience. Inclusion criteria included English-language research published during the last decade that focused on emotional intelligence and resilience in entrepreneurship. Non-peer-reviewed papers, grey literature, and those that did not directly address the South African context were excluded. Key findings show that emotionally intelligent leaders are better able to manage stress, build trusted relationships, and adjust to changing circumstances, which improves corporate results and ensures sustainability in a changing economic climate. This paper concludes that emotional intelligence is critical in determining the resilience and success of entrepreneurs in the South African entrepreneurial sector. Recommendations stemming from the results encompass integrating emotional intelligence training courses into entrepreneurial curricula, cultivating a nurturing and emotionally astute workplace, and encouraging self-awareness and emotional regulation proficiencies among prospective and established entrepreneurs in South Africa.

Has generative AI become of age

Small and Medium Enterprises (SMEs) in South Africa previously faced challenges due to limited resources, restricted access to technology, and the need to constantly adapt to a dynamic business environment. The introduction of Generative Artificial Intelligence (AI) emerged as a potential solution to these issues, promising to enhance operational efficiency and strategic decision-making. As a representative of developing economies, South Africa experienced a growing interest in AI technologies. This study was conducted to explore the impact of generative AI on SME productivity in South Africa, an area which had been underexplored. Employing a qualitative methodology, the study evaluated the current state and implications of generative AI in South African SMEs. It involved in-depth interviews to gather perceptions, experiences, challenges, and benefits from SME owners and managers regarding the adoption of generative AI technologies. The findings analysed via R Statistical Software revealed significant insights into the specific areas where generative AI substantially impacted SME productivity. It also identified the challenges and opportunities associated with the adoption of generative AI by SMEs, as well as the potential long-term implications. Key findings included notable improvements in data-driven decision-making, operational efficiencies, and market expansion strategies. However, the study also highlighted barriers such as the lack of technical expertise, initial setup costs, and concerns over data security. Overall, the impact of generative AI on SMEs in South Africa was found to be predominantly positive, paving the way for further technological advancements and adoption in the sector.

How Government Organizations Can Sustain Remote Work Post COVID-19

Government organizations are unprepared to sustain remote work post-COVID-19. Even though COVID-19 seems to be under control, organizations are still struggling with the aftermath of the pandemic and the need to sustain remote work. Challenges include lack of necessary information technology tools, software, technological skills, strategies for remote work, leadership skills, real-time communication, activity planning and program implementation, scheduling meetings, organizing childcare, managing caseloads, fostering team work, and effective supervision. A conceptual framework based on organizational adaptation theory guided this qualitative case study. Since the study was to ascertain how government organizations can sustain remote work post-COVID-19, semi-structured interviews were used to collect data from 12 government employees in Dallas Texas who worked remotely during COVID-19. Thematic analysis was conducted and. nine themes morphed from the study. The results highlighted the need for employee training and continuous organizational adaptation to the changing business environment.

«Тіньовий» сектор економіки та нелегальне підприємництво: історико-економічний аналіз

The article is devoted to the historical and economic study of the development of the "shadow" sector, tracing the historical roots of the shadow economy in the independent Ukraine. The author establishes that in conditions of political and economic instability, shadow relations create additional threats to the effective functioning of the economy. The article emphasizes that the problem of the shadow sector is actualized by the tasks of strengthening macroeconomic stability in wartime and liberalizing the business environment for post-war recovery. The purpose of the article is to analyze the trends in the functioning of the shadow economy, in particular, to identify the features of the development of illegal entrepreneurship in Ukraine during the Soviet period. The author analyzes the views of foreign and domestic scientists on the definition of scientific terminology, as well as the components of shadow economic activities and their scale. Based on the analysis, the article traces the historical trajectory of development of the shadow economy. The following factors of the spread of shadow relations are identified: hypertrophied centralization of the economy, the absence of private property and freedom of entrepreneurship, and the government’s neglect of the shadow economy. The shadow economy was inherent in all stages of the development of the Soviet economy, but the tendency to its expansion was observed since the late 50s of XX century. At the same time, a decrease in the rate of economic growth and the softening of the action of the punitive apparatus, a sharp reduction in the non-public sector, and the strengthening of monopolistic phenomena in the economy led to the growth of illegal economic activities. Common forms of illegal entrepreneurship have been identified, namely: household services, crafting, so-called "tsekhovyky", teams of unofficial seasonal workers, speculation, etc. Shadow activities also included fictitious accounting, violations in retail trade and public catering, etc. The main mechanisms of illegal entrepreneurship include, in particular, shadow redistribution and use of raw materials and materials, illegal production, illegal trade, unofficial currency circulation, conducting business activities using official powers or privileges and front persons, legalization of illegal income, corrupt actions against regulatory authorities, etc. The author identifies the positive and negative aspects of shadow business activities in the Soviet period. It is established that the cause of the shadow economy in independent Ukraine is the deepening of negative trends inherited from the Soviet past. The basis of many shadow schemes was corruption in government bodies. Emphasized the importance of conducting a research dedicated to identifying the historical roots of the shadow economy, and to searching for proper means to reduce the level of shadowing in the modern economy.

The Impact of Voluntary Environmental Standards on Domestic and Foreign Sales Growth: Evidence From Pakistan

ABSTRACTIn the current business environment, voluntary environmental standards (VES), including environmental management standards (EMS) and eco‐labeling schemes, have become important organizational tools to increase firms' market competitiveness and sustainability. This study provides novel insights by empirically examining the effects of EMS (ISO 14001) and eco‐label certifications on domestic and foreign sales growth, specifically in the context of Pakistani firms. The study utilized data from 245 listed firms from 2009 to 2023 to accomplish this objective. The study applied panel econometric regression analysis to estimate the results empirically. The results showed a positive impact of VES on firms' domestic and foreign sales growth. In particular, manufacturing firms that comply with ISO 14001 standards and textile firms with eco‐label certification have exceptionally high domestic and foreign sales growth. The study's outcomes indicate that adopting VES can serve as a valuable strategy for enhancing firms' market competitiveness and expanding their sales in both domestic and international markets. The result suggests that VES enhances market competitiveness and offers a pathway for sustainable growth strategies, specifically in developing economies like Pakistan. Notably, by promoting VES, policymakers can support firms in improving their international market presence and contributing to broader sustainable development goals.

“The effect of accounting disclosure of environmental and social responsibility in the digital business environment to improve performance and maximize the value of an enterprise" (A field study on some cement industry companies)

“The effect of accounting disclosure of environmental and social responsibility in the digital business environment to improve performance and maximize the value of an enterprise" (A field study on some cement industry companies)

Local Business Environment – Theory, Practice: Case Study in Thanh Hoa Province

The prevailing business environment in a region or locality has a significant impact on the performance of businesses in that region or locality. A healthy business environment can not only enhance the growth and success of businesses, but also enhance their ability to sustain and develop sustainably in the locality. The literature review shows that a small number of empirical studies have examined the local business environment. This study attempts to highlight the factors that make up the business environment in provincial localities, as well as clarify the level of satisfaction that entrepreneurs themselves receive from them. For the purpose of the survey, information was provided by 156 entrepreneurs from Thanh Hoa province, who assessed the level of improvement in the local business environment using a 5-point Likert scale, a type of personal interview scale. Principal component analysis of 6 factors showed that factors related to the economic environment, local legal and institutional environment were assessed to have a higher level of influence on improving the local business environment than the group of factors related to the local science, technology and socio-cultural environment.

The ecology of business environments and consequences for crime

The ecology of business environments and consequences for crime

Exploring Strategic Entrepreneurship Research: A Comprehensive Decadal Bibliometric Analysis

Strategic entrepreneurship indeed plays a crucial role in contemporary business environments. It integrates entrepreneurial actions with strategic management practices to navigate complexities and achieve long-term goals effectively. With an emphasis on trend analysis, collaborative mapping, and future objectives for the subject, bibliometric analysis of strategic entrepreneurship research is attempted to be done comprehensively in this work. The research aims to offer insights into strategic entrepreneurship literature's development and current status by utilizing data from the Scopus database spanning a decade of 2014 – 2024 with the 694 documents. The methodology involves collecting and analyzing data from Scopus using tools like Bibliometrix for data extraction and R-Studio for statistical analysis. VOSviewer is employed for visualizing co-authorship networks, keyword co-occurrences, and bibliographic couplings. The study filters publications using specific criteria related to strategic entrepreneurship, ensuring a focused dataset for analysis. Key metrics such as publication growth rates, international collaboration percentages, citation trends, and keyword frequencies are quantitatively analyzed to uncover patterns and relationships within the literature. By utilizing advanced bibliometric techniques, it provides a detailed visualization of the research landscape, highlighting emerging trends and identifying gaps for future exploration. The emphasis on international collaboration and the identification of influential authors, journals, and institutions offer novel perspectives on the dynamics of strategic entrepreneurship research.

Frugal innovation in the business environment: a literature review and future perspectives

IntroductionThis research aims to explore the growing field of frugal innovation within the business environment, particularly its intersection with sustainability and artificial intelligence.MethodsThrough a comprehensive literature review, the study analyzes key research trends and methodologies from 420 scholarly articles published between 2012 and August 2024. A bibliometric review traces the evolution of frugal innovation, while a content analysis provides insights into its practical applications across various industries, especially in resource-constrained settings.ResultsThe findings highlight the significant role of frugal innovation in addressing global challenges, such as reducing environmental impact and promoting social inclusion, especially through the adoption of cleaner technologies and socially responsible business practices. The study also emphasizes the transformative potential of AI in enhancing the scalability and efficiency of frugal solutions.DiscussionThis research contributes to the ongoing conversation on sustainable development by identifying knowledge gaps and proposing future strategies for leveraging frugal innovation to drive inclusive growth. The implications of this research are valuable for academics, practitioners, and policymakers aiming to foster sustainable innovation in diverse socio-economic contexts.