Business Functions Research Articles

JUSTIFICATION OF THE FEASIBILITY OF IMPLEMENTING CHANGES AT THE ENTERPRISE

The article provides a rationale for the feasibility of implementing changes at the enterprise. Following crisis phenomena in the economy, actions to achieve short-term, mainly financial goals prevail in organizations. At the same time, worldwide experience shows that companies that focus only on current problems of survival have no guarantee of success in the future, and only those organizations that lay the foundations for this development today, in crisis conditions, will be able to fully develop in the future. For managers of Ukrainian enterprises, mastering the theoretical and practical aspects of change management is especially relevant, since work in the conditions of continuous economic, political and technological changes is accompanied by internal disintegration and the lack of systematicity in the implemented changes. The feasibility of implementing changes at the enterprise was analyzed and provided. The readiness of the organization for changes determines the sufficiency of forces in the organization to carry out changes at present. The main purpose of this article is to improve change management processes in organizations, using organizational support to improve the efficiency of these processes. Research methods: dialectical method of scientific knowledge, structural and logical - for clarifying the essence and content of change management, comparative analysis for grouping criteria for the implementation of successful organizational and economic changes. The practical significance displays a list of strategic changes offered to the enterprise to increase the efficiency of business functioning and a set of approaches to assessing the effectiveness and risks of implementing organizational changes. The proposed triad of elements of a comprehensive assessment of the key success factors of changes in the organization fits well into the model of D. Khayat - the ADKAR model, which allows you to assess the situation and manage changes both at the level of the organization as a whole and a specific employee.

Licensing Procedures’ and its Influence on The Enforcement of Alcoholic Drinks Control and Licensing Policies in Nairobi City County, Kenya

The enactment and subsequent implementation of the alcoholic drinks control policies and legislation in Kenya continues to elicit numerous questions as to the efficiency of the same in achieving the intended purposes. Many illicit brews and alcoholic drinks continue to find their way into the market, many people engaging in them yet they are not only a health risk, but dangerous for human consumption. The question that remains unanswered is whether the licensing procedures for the manufacturers, dealers and even merchants, play a role in the enforcement of these pieces of legislation or not. This research project aimed at how the licensing procedures determine the enforcement of polices within Nairobi City County. The study was guided by street-level bureaucracy theory and was conducted using descriptive research design targeting 112 enforcement officials. Primary data was gathered utilizing a structured questionnaire and interviews with 10 NACADA officials. Data analysis was done using descriptive statistics as well as the regression model. A 62.5% response rate was achieved and the results indicated that the licensing procedures influence alcoholic drinks control policy enforcement by licensing procedures being adhered to when enforcing the County alcoholic drinks control policies, and there are regular checks on licenses for business functions that operate and sale alcoholic drinks. In line with the study's conclusion, the study recommended that there should be continuous monitoring and evaluation and capacity building for the traders and dealers of the drinks

Integrating technical and business aspects in Software as a Service: Systematic literature review, trends, and research directions

One of the most salient problems currently confronting Software as a Service (SaaS) realization and scientific research is understanding how to efficiently connect software platforms using SaaS distribution models integrating the business functions. The extant empirical SaaS literature holds research gaps regarding the commercial and technical aspects of SaaS business models. To address these gaps, this article systematically reviews current empirical studies to understand how SaaS integration projects could be more efficiently managed in organizations by integrating technical and business aspects. Among other findings, we discover significant knowledge gaps in the field, mainly regarding the empirical validation of a coherent business strategy regarding the SaaS model and an integrated view of customer-perceived performance concerning SaaS architecture. Based on the analysis and synthesis of the findings, this study provides a framework for SaaS realization, including the principal dimensions to be considered in SaaS provision. Futhermore, a novel conceptual model proposed complements the framework by organizing 14 principal variables affecting SaaS integration on three decision-making levels, i.e., strategic, tactical, and operational. This study theoretically contributes to solidifying the SaaS integration literature by covering the three levels of decision-making and offering actionable insights into business practice and SaaS implementation. Regarding the practical contributions, this research guides managers in managing SaaS projects by emphasizing a holistic approach that incorporates all decision-making levels and perspectives, as well as interconnected technological and business aspects. Lastly, promising future research opportunities have been identified to move SaaS research forward.

Collaborative Creativity: A design approach to systemic challenges navigating the innovation ecosystem

Unprecedented political, economic, health and environmental challenges in the world have made us react and reflect on things we have taken for granted. Companies and organizations became aware that proven approaches were no longer working, while the rapidly changing environments in which they operated required new momentum. Those driven by design were able to anticipate alternative approaches and used collaborative creativity and design thinking to shift their mindset and came up with creative solutions that kept their brands meaningful and relevant. This industry letter promotes the need for design to drive collaborative creativity among key stakeholders and its innovation ecosystem to the systemic level necessary to address these world challenges. It will further elaborate on the preconditions necessary for effective collaboration to become responsible partners that drive sustainable growth, balanced with care for humanity and the planet. The impact and value of design is determined by its design leadership and depends on how it is connected, aligned and integrated, first within the design function itself, second across the other business functions and third beyond the boundaries of the company in partnerships with other stakeholders. Understanding and aligning the key drivers and success factors of different stakeholder groups will be a prerequisite for making collaborative creativity work effectively and navigating the innovation ecosystem driving long-term societal progress.

Cyber Security Controls and Countermeasures

Today's digital economy encompasses a conglomeration of devices, data, applications, and complex networks that can be hosted on-premises, in data centers or in cloud environments to support business functions. As a cybersecurity professional, you will be tasked to manage risks like cyber threats and data breaches in the workplace. The risks may emanate from the data that resides in the systems, like servers, computers or external drives and the physical assets themselves, like routers and switches. The onus is on preventing security events and limiting the damage or consequences of any event that might happen. Managing these risks in an organization can be achieved by implementing cyber security controls and countermeasures. Cyber security controls can be categorized into three distinct major groups: administrative control, physical control, and technological control. The administrative controls focus on security policies, guidelines, rules, procedures and standards designed by management to control access and utilization of confidential information. Physical control refers to a set of IT security controls deployed at the physical premise to prevent unauthorized physical access to data centres. Technical controls involve the use of systems and technical solutions to prevent security events in networks and cloud platforms. Additionally, when implementing security controls, the function of cyber security controls can be broadly divided into seven groups: directive, deterrent, preventive, compensating, corrective, detective, and recovery controls. Furthermore, security frameworks such as NIST, CIS controls COBIT, and ISO/IEC series form the cornerstone of cyber security controls and countermeasures. The aforementioned aspects will be discussed further in the later sections. For now, it is to provide a general picture of the cyber security controls and countermeasures. Keywords – Security Controls, Countermeasures, Frameworks, Information Systems, Risk

Optimization of Warehouse Operations for Upstream Service Companies in the Oil & Gas Industry: A Case Study of XYZ Company

The oil and gas (O&G) sector drives various parts of Malaysia's economy and accounts for 19% of government revenue in 2021. The volatility of oil prices and the COVID-19 pandemic problem in recent years has taught O&G enterprises, especially upstream players, to focus on business needs and employ cost optimization techniques to compete and survive uncertain circumstances. This study seeks to analyze and describe the warehouse operations setup of an onshore supply base service organization that manages and maintains offshore O&G facilities. This study examines space utilization variables from several supply chain perspectives, particularly operations performance. Semi-structured interviews, site observations, and documentation review are used to collect data for the single-case study. The study findings suggest the organization under study has a basic warehouse setup with lean operations staff to complete business functions. In general, the warehouse arrangement for the organization under investigation is comparable to a distribution center, where 70% of warehouse activities comprise, material receiving, handling, and distribution (loading) to several offshore locations. Findings also showed that two factors, namely: material handling flow and movement, and inventory movement affect warehouse space utilization. The volume of material handled by the warehouse based on business demand, as well as the seasonal trend from offshore activities contribute to the frequency of material loading and impact the material throughput and transit time, which were found to have an impact on space utilization too.

Forecast, analytical and trend analysis of the development of the agro-industrial complex of Russia in the main agri-food markets as an area of state strategic guidelines

Abstract The modern structure of the Russian agro-industrial complex has the properties of consolidation, expansion and prevalence of agricultural organizations and agricultural holdings, as evidenced by the factor of their provision for about two-thirds of the total agricultural production. This circumstance states the growing dominance of large agricultural business and the progressive evolution of the agricultural sector, as well as the reduction in the importance of individual farms of the population. In the course of the study, the current state of development of the agro-industrial complex of Russia is considered, a forecast, analytical and trend analysis of the development of the domestic agro-industrial complex is carried out through the prism of the fundamental agri-food markets and the contours of the subsequent progress in the development of the agricultural sector in the context of the evolving restructuring of the social, economic and political situation are determined. The novelty of the research lies in the presentation of forecast estimates and trends in the development of the main agri-food markets of the Russian agro-industrial complex, which determine the presumptive transformation of the agrarian mechanism of Russia in the medium and long term: destabilization of international political and trade-economic cooperation, intensification of economic restrictive measures, as well as fundamentally new state priorities. The agricultural sector of the economy tends to react extremely sharply to the current situation in recent years, manifested in unstable international economic relations and foreign policy crises, which directly negatively affects the conditions for the functioning of the agricultural business. The presented forecast scenario for the development of agri-food markets will contribute to the formation of directions for state strategic management, planning and regulation of the agro-industrial complex for the medium and long term.

Managing the modification of digital marketing and logistics under the influence of artificial intelligence

The purpose of the study is to develop a methodology for determining the modification of digital marketing and logistics and the peculiarities of their management under the influence of artificial intelligence. A theoretical and methodological analysis of existing research was carried out, relevance and purposefulness of the study is substantiated on the basis of scientific generalization. It has been proven that the functioning of modern business is inextricably linked with transformations, which characterized by the intense influence of artificial intelligence. Development trends have been identified and a classification of the main artificial intelligence technologies has developed, which necessitate the need for effective management of modifications in digital marketing and logistics of modern companies. Structured indicators of the dynamics of development of digital marketing and logistics pressure the influence of artificial intelligence. It is substantiated that the penetration of artificial intelligence into the management of digital marketing and logistics of modern companies leads to their modification, which is due to the automation and optimization of business processes. An economic and statistical analysis of the interdependence of trends in the development of digital marketing and trends in the contract logistics market for the Gulf Cooperation Council was carried out. The interdependence is determined and the main prospects for the development of digital marketing and logistics are argued in the context of the impact of artificial intelligence. The results have practical value and can be used to formulate a methodology for managing modifications in digital marketing and logistics of modern companies.

Collaborating with C-Level Executives to Align Security with Business Goals: How Strategic Security Initiatives were Integrated with Broader Business Objectives

A link between cybersecurity and the organization's objectives is crucial in contemporary business. With the advancement of technology, today's digital transformation has enshrined cybersecurity not as a technical problem but as an essential tool for business competition. This paper aims to understand how cybersecurity professionals work alongside C-level executives to ensure security mirrors organizational goals and objectives. By beginning with business objectives in mind, emphasizing communication, and incorporating security into transformation projects, cybersecurity can be positioned to align with business goals to support business advancement. The paper also identifies Risk management according to business risk appetite, business continuity management, and regulatory compliance as essential framework components. Rapid threat intelligence and innovative tools such as cloud security and Zero Trust Network Access (ZTNA) are key examples of how protection can precede business initiatives. This collaboration shields business operations against cyber risk and advances competitive advantage by strengthening consumers' perceptions and optimizing business functions. Therefore, with the ever-advancing threat environment to its systems, organizations must embrace AI-driven threat sensors, automated compliance solutions, and effective incident response. Finally, cybersecurity must be recognized as one of the main enablers that drive innovation and business growth and allow companies to succeed in safe digital environments. The paper offers practical advice to cybersecurity professionals on communicating with the board and other executives, thereby achieving the organizational security culture necessary to succeed in the long run.

APPLICATION OF THE PROPORTIONALITY PRINCIPLE IN COMMERCIAL CONTRACTS TO ENSURE JUSTICE FOR THE PARTIES

<em>Contracts play a very significant function in business. It is envisaged that applying the proportionality principle will aid in the realization of the contract's objectives and functions. The principle of proportionality governs the exchange of rights and obligations between parties in accordance with their proportions or parts, and it applies throughout the contract process, including the pre-contractual stage, contract formulation, and contract execution. Commercial contracts emphasize characteristics of partnership and business continuity, with the parties exchanging their rights and obligations in a fair and reasonable manner. To build a fair and mutually advantageous contractual partnership, ensure that the parties' interests (rights and obligations) are exchanged in balance. The notion of proportionality is vital not only for creating contracts that are just and mutually advantageous (substantial justice), but also for emphasizing fairness (fairness in procedures). The integration of contract law concepts is an analytical technique for dissecting the presence of contracts formed by the parties in order to manage the parties' various interests in a proportional manner</em>

Sustainability and Capability Building in Organizations: A Focused Group Approach

This study investigates business sustainability and the development of comprehensive capabilities that are crucial for future-ready organizations. It delineates the sustainable business practices that are necessary to enhance the functional, operational, technological and strategic dimensions of an organization. Furthermore, we examine methods to augment a firm’s capacity to foster sustainable growth. The authors utilized a structured approach; four focused group discussions (FGDs) were conducted with experts from multinational firms to garner real-time industry insights in the context of the new normal. The discussions emphasized key practices such as change management, competency building, green business functions, regenerative strategies, empathetic leadership and the triple bottom line approach. This research underscores the real-time business practices implemented during and after the pandemic to address and mitigate the disruptions caused by the outbreak.

New learning method with ERP business simulation game: What can we learn?

This Study explores the effectiveness of Enterprise Resource Planning (ERP) business simulation games on user competencies. This Study Uses a qualitative descriptive methodology, and the informants of this research have been winning in national and international business simulation games (both students and alums). Traditional pedagogical approaches need to be revised to explain the rich dynamics arising from business environments. As a result, they also consider incorporating new educational aids into their curriculums, i.e., business simulation games. Participants indicated that interacting with these simulations enhanced their understanding of business topics and resulted in soft skills growth. Current working alumni said they felt more capable of acclimating to the professional world. However, the Study unearthed that comparatively few higher education institutions incorporate business simulation games in their teaching practices. The result shows that with the development of technology, there is a transformation in how business functions; integration of these tools into educational frameworks becomes essential to narrow the knowledge theory gap and knowledge application. These results suggest the importance of universities introducing technology tools, particularly ERP business simulations, into their curricula for Business and Economics courses (single or joint honors) alongside accounting.

Efficiency of Battery Systems from the Point of View of Economic Return

Abstract Battery energy storage systems (BESS) are becoming increasingly important and their number of applications in energy systems is constantly increasing. Although batteries cannot solve the problem of electricity storage in the long term, BESS systems have proven to be suitable for short-term provision of flexibility within the day. Their real usability is shaped by the provision of balancing services to ensure a stable supply of electricity in distribution networks. BESS systems were able to respond to the dynamic development of the electricity market in recent years and achieve excellent results from the point of view of economic return. The aim of the contribution is to present the results achieved in selected cases of BESS use and to determine their economic return. The size of the battery (installed power and capacity) is designed to be able to work in individual modes and operating cases. A critical element for the design of the battery size is the technical conditions for the provision of balancing services. On the basis of market research, we determine the costs of acquiring and operating the battery, including the need for a software superstructure for controlling the battery itself and ensuring the necessary business functions. According to the defined criteria, we evaluate the technical operation of the battery located at the point of consumption (behind the meter) using the battery model in several operating cases. Subsequently, we analyse its sales based on the development of market prices and the conditions in which the battery is placed.

Exploring the environmental, economic, and social implications of metaverse adoption in business and management

Recently, Metaverse has received increasing attention from both the business and academic worlds. However, its actual use in business and management is still confusing and limited. This study aims to provide a comprehensive overview of the environmental, economic, and social implications of the adoption of this technology within organizations. In addition, enabling technologies to Metaverse and business contexts in which the platform can be applied are identified. First, this study applies a systematic literature review (SLR) to investigate the use of Metaverse in business and management. Secondly, a content and cluster analysis were applied to the final sample of 656 articles to identify the Metaverse's primary research areas and future research directions. The results reveal that Metaverse has mainly social and economic implications such as enhancing collaboration, increasing accessibility, facilitating training, and encouraging productivity and profitability for companies. The major concerns for its implementation are privacy, security, user health, inclusiveness in access, implementation costs, and lack of regulation. Moreover, the application of content and cluster analysis techniques intercepted eight primary research areas defined as user experience, optimization, research method, educational change, business opportunities, security systems, enabling technologies, and healthcare. The article provides valuable insights to support management decision-making when considering the adoption of this technology in specific business contexts. To the best of the authors' knowledge, this is one of the first SLRs on Metaverse in the business and management field that classifies the opportunities, barriers, complementary technologies, and business functions and processes in which the platform can potentially be applied.

Effective Strategies For Small Startups To Attract Venture Capital

In essence, for small startups, securing VC is a major breakthrough for growing and scaling up their business. The paper now zeroes in on the tactics that small startups can employ to capture, to a larger extent, the potential attention of VCs. The most critical strategies in order to engage VCs will be what this discussion will be based on as we turn into a collection of previous literature, case studies, and expert insights. Forge a Convincing Business Model: One solid business model is what lies at the core of how to attract VC investment. How a startup can sketch out its value proposition, revenue streams, and path to scaling. This business model does not only bring out the potential for high returns that the startup might have; it also aligns with the risk appetite of these venture capitalists. Network Building: Networking forms one of the core functions of the entire venture capital business. This paper looks into just how a network of one's own can be built and leveraged via industrial connections, along with mentors and advisors. Proper networking will result in more visibility and credibility, thus increasing the opportunity for start-ups to reach out to potential investors. Demonstrating Market Potential: For venture capitalists, the ability to demonstrate a clear market potential is very much desirable from startups. We will see how startups can present information on market size, customer segments, and competitive landscape to secure an investment interest. Making a Strong Pitch: Preparing a convincing pitch is a sure way of attracting the interest of VCs. We will look at the main components of the pitch: elevator pitch, articulating the problem and solution, definition of the market opportunity, articulation of the solution itself, business model, traction, team, and financial projections. Preparing a sound pitch can dramatically increase the chance of receiving venture capital. Apart from these, the paper also makes the target to address the critical pitfalls which startup companies often face in the form of indistinct ideas, over-promise on market size, and unrealistic projections for financials. It must help the startups, through practical recommendations and insights, reach an optimization of approaches toward venture capital and hence secure the necessary funding portions of growth and success

More than one way to peel an orange : A fresh approach to building an effective lease administration function

This paper explores the evolving landscape of lease administration, prompted by shifts in labour markets, growing complexities of financial reporting for lease agreements and the emergence of robust lease management technology. Lease administration emerges as a critical business function, with a focus on managing lease data, ensuring accurate rent payments and navigating compliance and landlord relationships, while providing realtime reporting capability for business stakeholders. In addition, lease administrators transition from labour-intensive manual processes to a more analytical and technical approach. Given the altered environment in lease management requirements, tools and skill sets, now is an ideal juncture for companies to assess their current lease administration operating model, and the paper introduces a perfect assessment tool. The Lease Administration Framework, a proactive lease administration management system, highlights strategies and decisions for managing a company’s real estate portfolio while considering the use of in-house teams and outsourced service providers. The paper advocates for a tailored approach to be aligned with organisational needs, while emphasising the importance of evaluating talent, technology and risk tolerance in the decision-making process. By following the framework, corporate real estate (CRE) leaders can ensure financial prudence, gain the agility to allocate resources strategically, invest in growth initiatives and weather economic uncertainties.

WINNING MECHANISMS OF SURVIVAL: A CASE OF “BUL-ANON” RETAILERS IN RURAL PHILIPPINES

This study focused on the challenges faced by a group of independent and small retailers called Bul-anon retailers and identified coping mechanisms adopted. The study was conducted to investigate the coping me­chanisms that can be utilized by other members of the retail industry to continue to thrive despite difficulties. Findings indicated that the challenges faced by the Bul-anon retailers revolved around three of the four primary business functions: marketing, finance/accounting, and operations. To avoid the significant impact of the above challenges, retailers adopted coping mechanisms to stay in business amidst large department stores and other businesses. How they handled their customers, being customer-oriented, was the winning mechanism for the survival of these retailers.

Understanding the impact of ChatGPT on tourism and hospitality: Trends, prospects and research agenda

The prevalence of ChatGPT (and generative artificial intelligence in general) has precipitated a paradigm shift in diverse industries, including tourism and hospitality. ChatGPT revolutionalises all business functions (from marketing to operations), empowering tourism and hospitality organisations to transform and innovate their business models. This study seeks to comprehensively examine the use and implications of ChatGPT in tourism and hospitality by discussing the current and future state of the technology, while also suggesting an agenda for future research. To that end, six areas, namely, business intelligence and tourism analytics, tourism marketing and experience, hospitality services, cultural and heritage tourism, travel services, and destination management, are elaborated on in depth. By compiling views solicited from international experts, this groundbreaking opinion piece unveils profound insights into the evolutionary journey of an emerging technology that is shaping tourism and hospitality. The paper provides useful implications for tourism scholars and professionals alike.

Study on Parking Adaptability in Urban Complexes on Top of Subways Based on Shared Parking Spaces

Urban complexes on top of subways as a function of intensive building groups, including residential, office, business, and other types nature of land use where parking time differences are obvious, can implement shared parking spaces, thereby reducing the index of parking allotment. Currently, the parking space allocation index for complexes is only a simple superposition of different land uses, resulting in an over-allocation of parking allotments, leading to a waste of land resources and a low utilization rate of parking allotments. Considering the factor of shared parking spaces, this paper conducted an in-depth analysis of the parking adaptability of urban complexes on top of subways and selected five urban complexes on top of subway stations in Wuhan to conduct a parking survey to analyze the parking demand characteristics. This study also investigated the parking behavior of parkers and analyzed the characteristics of parking behavior in urban complexes on top of subways as well as the current parking demand prediction methods and models, establishing a parking demand prediction model based on shared parking spaces and conducting an adaptability analysis. Finally, using five urban complexes in Wuhan as examples, the number of parking spaces demanded by urban complexes on top of subways in 2025 was predicted, and Wuhan Golden Harvest Fashion Plaza was used as an example to verify the feasibility and implementation ability of the theoretical and applied research in this paper.

Crossing the lines a human approach to improving the effectiveness of the three lines model in practice

PurposeFinancial services firms have a significant societal responsibility to prevent issues. The three lines model helps them do that though faces challenges in its effectiveness. This paper aims to offer a behavioural perspective on these challenges and practical solutions to help improve the model and herewith better prevent issues.Design/methodology/approachThe authors detail key behavioural pitfalls and underlying psychological mechanisms that hinder the effectiveness of the model. The authors illustrate these with examples from the corporate practice, alluding to the behavioural patterns and drivers identified in the academic and consultancy work. The authors conclude with offering practical solutions how to enhance the effectiveness of the model.FindingsThe authors discuss common ineffective intergroup behaviours between the controllers (here: internal audit) and the controlled (here: the audited business or 2nd line functions): the controllers responding to issues with increased scrutiny; the controlled dismissing the feedback and challenging the issues raised; and the controlled and the controller competing for power. The root causes of these ineffective intergroup behaviours include: psychological defence mechanisms, social categorisation and collective beliefs about intrusiveness. The offered solutions range from actions the controllers can take, actions the controlled can take and actions both can take to improve the effectiveness of the model in practice.Originality/valueThe authors argue that the behavioural perspective on the effectiveness of the model is a blind spot and largely omitted from organisations’ agendas. This paper adds this behavioural perspective to help organisations improve the effectiveness of the model.