Industrial Business Research Articles

Examining the impact of environmental and organizational priorities on sustainability performance in service industries

PurposeThis study examines the direct and indirect effects of organizational environmental orientation (EO)/culture, quality management practices (QMP) and sustainability experience (SE) on the relationship between organizational green practices (GP) and the triple bottom line (TBL) of sustainability performance (SuP).Design/methodology/approachTo test the seven hypotheses, a structured questionnaire was used to collect data. The responses of 365 managers from various USA businesses in the service industries were analyzed using IBM SPSS and structural equation modeling (SEM)-AMOS.FindingsThe empirical results indicate that positive SuP in the economic, environmental and social dimensions and organizational GP can be improved by a strong culture of EO, effective QMP and substantial SE.Practical implicationsThis research fills the gap in existing research between important organizational and environmental priorities and SuP. Consequently, the study provides managers with important strategic guidance: for environmental practices to achieve profitability and sustainability success, companies must promote an environmental-mindful culture and strategically invest in integrated QM systems.Originality/valueThis research is one of the first that explores how organizational environmental culture and QMP affect directly and indirectly the relationship between GP and SuP. These results provide empirical evidence to support the claim that environmental culture and QMP have significant direct and indirect effects on the relationship between GP and SuP dimensions.

Proposed Value Proposition and Business Model for VMCS Advisory Indonesia

The development of the business world and leadership in various industries depends on critical factors, including the role of corporate communications and public relations. Since the beginning of civilization, communication has facilitated the development of relationships between people and institutions, increasing reputation and spreading knowledge. With the advancement of the digital world, strategic communication has become increasingly important for managing reputation, both personally and institutionally. In a democratic climate and era of openness, strategic communication becomes more critical and must align with the mission, vision, and business goals. Various challenges arise, especially in formulating communication strategies, handling management issues and crises, coordinating between functions, and implementing communication campaigns; hence, external communication experts are needed to help nurture a company’s relationship with its stakeholders. This opportunity becomes the basis for establishing a communications and social impact consultant, PT Viem Advisory Indonesia (VMCS, abbreviation of Vera Makki Communications and Social Impact), in 2020. This study aims to formulate a value proposition, followed by proposing a business model that supports the value proposition and uses a qualitative descriptive analysis that takes data from interviews with representatives of communications industry experts, academicians, business leaders, and media. In addition, secondary data collection was also carried out, supported by a review of academic literature, basic theory, and conceptual frameworks, which systematically guided the start of a business in the communication and social impact consulting field. With this foundation, this study describes the business analysis, solutions, and recommendations to build VMCS with the right value proposition and business model. This study is designed so that VMCS can become a leader in the communications industry, with the uniqueness of not only focusing on profits in the business world but also prioritizing social impact and sustainability.

Управлінські стратегії розвитку бізнесу в умовах цифрової трансформації

Digital transformation, based on the latest technologies, is a strategic course for enterprises aimed at optimizing, expanding their customer base, and opening new sources of profit. The article examines cloud computing, artificial intelligence, the Internet of Things, blockchain, and data analytics as critical aspects of digital transformation, focusing on their impact on business. A study of the existing opportunities for attracting digital technologies to the agribusiness sector was carried out, with an understanding of the need to use the latter not only in the management sphere but also in the production sphere, based on the specifics of the industry. The article presents the results of the digital activity of individual companies that use digital technologies to increase efficiency and productivity. It is determined that examples of task automation, the use of GPS navigation systems for tractors, and field monitoring via unmanned aerial vehicles are just a few illustrative examples of digital transformation. Artificial intelligence is being used to analyze crop data, improve understanding of operations, and identify opportunities for improvement. Practical examples include introducing precision farming systems, which help increase productivity and resource efficiency. Logistics and warehouse management systems help optimize machinery use and inventory management. Digital transformation in agribusiness not only increases the competitiveness of enterprises but also provides new opportunities for operating on digital platforms. The article explores the importance of researching digital opportunities in the manufacturing sector to support the digitalization of agribusiness and increase its competitiveness. The article emphasizes the importance of digital transformation in the manufacturing sector, which can determine the success of the Ukrainian business industry in the context of rapid digital development. Keywords: digital transformation, digital adaptation, digital technologies, strategic management, data analytics, innovation, competitive development.

Managerial Dynamics as a Deciding factor for Corporate Social Disclosures among Quoted Manufacturing Companies in Nigeria

The continuous growth and expansion in the global economy with its attendant consequences on the environment and society have necessitated the increasing push by stakeholders for companies’ world over to disclose their social impacts on society. Consequently, the persistent increase in the demand for increase in social information has resulted to loss of credibility by stakeholders in the annual report of companies. The Nigerian business climate is no exception to this dilemma which serves as motivation for this research. Hence, this study investigates the extent to which managerial efficiency influences corporate social disclosures among listed Manufacturing companies in Nigeria. Using Krejcie and Morgan sample selection criteria, the sample size for the ex-post factor research design with a population of seventy-six (76) listed industrial businesses was sixty-three (63). However, because of irregular company listings and inadequate data availability, only forty-nine (49) of the companies were chosen to be included in the sample size spanning seven (7) sectors. Data were analyzed using Panel Corrected Standard Error Estimation. The results showed a significant level of 0.000 and a positive correlation of 0.019 between management effectiveness and corporate social disclosure of Nigerian listed industrial companies. Consequently, the study unquestionably showed that while managerial performance is beneficial, corporate social disclosure is significantly impacted by it. Therefore, the study suggested that the Nigeria Exchange Group (NGX) should implement additional regulations and controls to guarantee that all listed manufacturing companies continue to disclose information on product responsibility, human rights, and the social impact of manufacturing operations.

Empirical analysis of tree-based classification models for customer churn prediction

Customer churn is a vital and reoccurring problem facing most business industries, particularly the telecommunications industry. Considering the fierce competition among telecommunications firms and the high expenses of attracting and gaining new subscribers, keeping existing loyal subscribers becomes crucial. Early prediction of disgruntled subscribers can assist telecommunications firms in identifying the reasons for churn and in deploying applicable innovative policies to boost productivity, maintain market competitiveness, and reduce monetary damages. Controlling customer churn through the development of efficient and dependable customer churn prediction (CCP) solutions is imperative to attaining this goal. According to the outcomes of current CCP research, several strategies, including rule-based and machine-learning (ML) processes, have been proposed to handle the CCP phenomenon. However, the lack of flexibility and robustness of rule based CCP solutions is a fundamental shortcoming, and the lopsided distribution of churn datasets is deleterious to the efficacy of most traditional ML techniques in CCP. Regardless, ML-based CCP solutions have been reported to be more effective than other forms of CCP solutions. Unlike linear-based, instance-based, and function-based ML classifiers, tree-based ML classifiers are known to generate predictive models with high accuracy, high stability, and ease of interpretation. However, the deployment of tree-based classifiers for CCP is limited in most cases to the decision tree (DT) and random forest (RF). Hence, this research investigated the effectiveness of tree-based classifiers with diverse computational properties in CCP. Specifically, the CCP performances of diverse tree-based classifiers such as the single, ensemble, enhanced, and hybrid tree-based classifiers are investigated. Also, the effects of data quality problems such as the class imbalance problem (CIP) on the predictive performances of tree-based classifiers and their homogeneous ensemble variants on CCP were assessed. From the experimental results, it was observed that the investigated tree-based classifiers outperformed other forms of classifiers such as linear-based (Support Vector Machine (SVM)), instance-based (K-Nearest Neighbour (KNN)), Bayesian-based (Naïve Bayes (NB)) and function-based (MultiLayer Perceptron (MLP)) classifiers in most cases with or without the CIP. Also, it was observed that the CIP has a significant effect on the CCP performances of investigated tree-based classifiers, but the combination of a data sampling technique and a homogeneous ensemble method can be an effective solution to CIP and also generate efficient CCP models.

Entrepreneurial Marketing and Product Innovation in Improving Business Performance: A Case Study on Batik Trusmi Cirebon

Purpose: The research aims, and contribution of this research are to complement previous research on entrepreneurial marketing and product innovation in the Trusmi Cirebon batik business, the current obstacles and how to solve them to improve business performance. Theoretical Framework: As the small business industry, Batik Trusmi must innovate some matter on its business. Innovation classifies as three form there are product innovation, business model innovation and process innovation. This research discussed the product innovation and marketing innovation system as part of the business model. The innovation on the product and marketing system will affect the business performance. So, this research discusses about the role of entrepreneurial marketing and product innovation to improve the business performance. Method: This is qualitative research with a case study approach. Data collection methods used by researchers to obtain primary data include interviews, observation, and documentation. The type of interview conducted by the researcher is a semi-structured interview. There are 4 respondents as the actor of Batik Trusmi MSMEs. Result and Conclusion: The results of this study indicate that entrepreneurial marketing and product innovation are needed to improve business performance. The main obstacles on developing Batik Trusmi business are the lack of innovation on the product and the quite understanding of the entrepreneur on effective marketing system. The results of this study indicate that all MSME entrepreneurs have yet to understand entrepreneurial marketing and always try to present the new creativity on the Batik Trusmi product whether on the pattern model, size, packaging, colour, and the others. The results of this study also show that MSME entrepreneurs who have implemented product innovation and entrepreneurial marketing can improve their business performance more quickly. Originality/Value: This research focuses on product innovation where the most of MSMEs entrepreneur has no eagerness to develop their product better. Most of MSMEs entrepreneur sense “enough” on their product and this condition oftentimes will push the business into worst condition. Another hand, this research discuss about entrepreneurial marketing on micro, small, and medium enterprises (MSMEs) whereas the most of MSMEs entrepreneur never consider the importance of marketing on the selling the products.

The Global Financial Crisis During the Years 2008 and 2009

During a global financial crisis, the exchange rate reacts to economic conditions in a volatile manner. During the financial crisis between 2008 and 2009, the exchange rate incurred losses of individual countries' overall currency value. The losses occurred because of the lack of confidence in investors. The losses affected the banking and financial institutions, collapsing the housing market. The purpose was to explore existing research on the great financial crisis that affected the world and compare countries with the largest economic influences in the world. The study is grounded in the fact that this crisis disrupted the banking system worldwide, causing several major financial institutions, such as commercial banks, mortgage firms, insurance agencies, and credit unions, to fail. In addition to the financial industry, many large and small businesses failed to survive during the Great Financial Crises. The data came from sources such as scholarly literature from sources related to the causes and effects of the financial crises. The literature reflected behavior patterns and purposes that disrupted the global economy used by various countries. This research reflected that government leaders respond proactively and collaborate and share ideas, information, and resources to prevent a financial crisis of this magnitude from happening again. Bank managers must provide records publicly and promptly. As the United States, China, and Japan represent the largest economies, the U.S. governmental leaders must align with Japan to encourage China to support a global collaboration between the other global leaders to ensure sterner banking regulations. Consequently, this study could lead to a more stable global economy to prevent a future disaster of this magnitude.

Analisis Strategi Pemasaran Marketing Mix terhadap Keputusan Pembelian pada UMKM Kopi Estona

The development of industrial business in Indonesia is currently growing very rapidly. This can be seen from the many industries that are competing to win the hearts of consumers, through improving product quality and other things. The developments that have occurred have resulted in increasing competition. The business competition that has occurred has motivated business people to create strategies to make consumers satisfied with the products and services offered, because consumer behavior can change at any time for certain reasons. The aim of this research is to test and analyze the influence of product, price, promotion and location on purchasing decisions for Estona Coffee MSMEs. This type of research is causality research. The population in this research is consumers/customers of MSMEs of Estona Coffee. The sample used was 140 respondents using purposive sampling. The analysis tool uses multiple linear regression. The research results prove that product, price, promotion and location have a significant influence on purchasing decisions for Estona Coffee MSMEs.
 
 Keywords: Marketing Mix, Product, Price, Promotion, Location, Purchase Decision

“Shared accountability”: Experiences of employees in a servant leadership organization guided by growth

Despite the fact that many organizations attribute their success to the practice of servant leadership, only a few studies have been conducted to understand the experience of employees working for a devoted servant leadership organization. Thus, the aim of this study was to explore the lived experience of employees who work in an organization that has been committed to the practice of servant leadership for decades. To respond to the research question: What is it like for employees to work in a dedicated employee-owned servant leadership organization in the construction industry and facilities services business, 16 interviews were conducted, including six follow-up interviews. Half of the interviewees held management positions and the other half held non-management positions, and they had worked for the organization from two years to 50 years. The organization operates in the United States of America and offers services from engineering and construction to operations and maintenance. The interviews were analyzed and interpreted according to phenomenological methodology. Three themes emerged: “Not just the work life but your whole self,” “The sky is the limit”: Continuous growth of employees and the organization, and “Diverse minds make better decisions.” The findings demonstrate that the employees are dedicated to a balanced growth of the organization and its employees as they experience the practice of servant leadership as a holistic way to continually help each other to develop and grow the business, by building on shared accountability leading to employee satisfaction and positive organizational performance. The findings indicate that dedication to the continuous and balanced growth of the organization and its employees is the foundation of the practice of servant leadership.

Halal Fashion in Indonesia as A Business Industry

This study seeks to map research related to halal fashion in Indonesia published by Dimension indexed journals from 2015 to 2023. NVivo 12 Plus was used to conduct thematic studies and frequency was used to evaluate 86 publications in the scientific literature. The results found that the number of publications fluctuates from year to year related to halal fashion research in Indonesia, which indicates that this topic is an interesting topic and must continue to be developed. In addition, various focuses of discussion and cluster analysis that describe the research path in halal fashion research in Indonesia include Motivational Factors for the Halal Fashion Industry in Indonesia, Modest Fashion and Halal Lifestyle in Indonesia, Halal Fashion Consumer Behavior in Indonesia, and Halal Fashion Product Development and Branding in Indonesia. This research can be used as a starting point for experts to build graphic visualizations of halal fashion research patterns in Indonesia in published scientific research.

Enhancing the Competitiveness of the Show Business Industry for Cultural Export as a Means of Creative Economy Development and Tourism Promotion in the Future New Normal Era: The Case of Thailand

The tourism industry is considered the greatest economic generator in Thailand. Nonetheless, the impact of the COVID-19 pandemic thoroughly shifted its image of tourism stability and trustworthiness. The show business industry is an element of Thai tourism that attracts more than a million tourists nationwide. The show business industry not only attracts quality multinational tourists as visitors, but also indirectly establishes ‘soft power’ with audiences. This research aimed to (1) study the alternative future scenario of Thailand’s cultural show business industry with respect to cultural export and the creative economy; (2) determine the competitive potential of Thailand’s show business industry by comparing it with the global show business industry; (3) examine the market demands and behaviors within Thailand’s cultural show business industry for cultural export and the creative economy; and (4) present a strategy for elevating the competitive potential of the show business industry for cultural export, promoting a creative economy and fostering tourism in the post-pandemic ‘New Normal’ era. The results of this study found that the ‘Alternative Future Scenario’ of Thailand’s cultural performance industry with respect to cultural exports and the creative economy consists of three scenarios: (1) a mass show business tourism industry, (2) an exclusive show business tourism industry, and (3) a new mega show business tourism industry. It also revealed the competitive potential of the Thai show business industry. By comparing it with the international performing arts industry in terms of competitiveness, it was found that the show business industry in Thailand meets world-class standards. Given its clear, outstanding, and unique culture and traditions, Thailand is ready to serve as a major cultural exporter via cultural performance. Furthermore, the data analysis revealed a total of 10 significant strategies for enhancing the competitiveness of the show business industry in Thailand.

Brief Review on Pharmaceutical Sales and Marketing

The mechanics of the pharmaceutical industry are evolving at an astonishing rate. Drug discovery costs millions of dollars, and if a drug is approved by the drug administration agency to go on sale, it must pass a stringent clinical trial process. As a result, the drug development process often takes ten to fifteen years to complete. Only while the patent is still in effect is there a profitable window of opportunity for generic companies to produce and sell the identical medication. The drug-marketing cycle needs to be more effective in order to optimize revenue returns. The effectiveness of the sales force is declining as time goes on, as is revenue per salesperson. The rise in income is not keeping pace with the cost of hiring more sales people. Businesses are looking for ways to save expenses and other downtime in order to boost profits without adding more sales staff. While business intelligence and performance management have become more widely used in most other sectors, Businesses in the pharmaceutical industry have been a little hesitant to adopt this new technology.The purpose of this white paper is to demonstrate the sales and marketing possibilities that BIPM offers pharmaceutical companies.[1]

Enterprise Resource Planning: Analysis and Utilization of Open Source Applications with the EAP Method

System automation is currently very much needed for the small and medium business industry to large-scale companies. The computerized systems concept is increasingly in demand due to the shift in the industrial era 4.0. Enterprise Resource Planning (ERP) is a multi-module application that puts forward the concept of an integrated computerized system that stores all company data in one easily accessed database. This study discusses open source ERP applications for Micro, Small, and Medium Enterprises by looking at the running business processes that will then adjust to the ERP application module facilitated by the developer. The Enterprise Architecture Planning method acts as an analysis stage and a tool used in business process analysis using the Unified Modeling Language to identify all actors involved and a matrix of relationships between data entities, business processes, and applications. This research provides recommendations modules that can use in open source ERP applications appropriate for the company.

Pengaruh Profitabilitas, Debt Default, dan Pertumbuhan Perusahaan terhadap Opini Audit Going Concern

Business industry can be linked to become a reference for the condition of country's economic status. Giving a going concern audit opinion can help company’s stakeholders in ensuring the sustainability of the company in the next year from the date of the audited financial statements. This can help the company to make decisions easier. This research was taken during the Covid-19 pandemic, which shows that there are companies that have suffered losses due to the pandemic and can be seen in the going concern audit opinion on the company's financial statements. Auditors are expected to be aware of the factors and potential problems that can arise and affect the sustainability of the company. These include the influence of profitability, debt default and company growth.

Proposed Business Strategy and Optimization in the Creative Business Industry (Case Study: CV. Natural House)

Creative business industry and along with the digital transformation in Indonesia needs to be explored and expanded further to enable Small Medium Entreprises (SMEs) for it to grow exponentially and effectively since currently, Indonesia is going onto the digital era. Especially after the pandemic, many SMEs in Indonesia have been affected. CV. Natural House is no exception, as transformation and changes are currently taking place in their business system. Natural House is a company that was first established in Yogyakarta operating in the creative business sector and specializing in creative furniture and home decor using recycled materials and upcycle concepts. The drastic changes in the industry have caused the company to have difficulty in several management areas. This research aims to identify those difficulties in the areas that Natural House is currently facing using several analyses for the internal and external ones, such as Root Cause Analysis, Internal Resources Analysis, Value Chain Analysis, Porter’s Five Analysis, McKinsey 7S Model, and 7P Marketing Mix. The purpose of conducting the analysis using the models or framework that were mentioned and finding the problems is to find solutions and business strategies that could be implemented in the company. The findings suggest that Natural House is lacking, not only in its human resources and capital areas but also in its marketing management. Furthermore, Natural House is not considered an ideal company’s structure as of right now. Because of that, five solutions were proposed by the author to Natural House, namely hiring new employees and talent acquisition, skill training and mentoring employees, marketing optimization through the global marketplace, improving their offline platforms such as joining creative exhibitions/fairs and revamping their showroom or office area, the last is apply scheduled evaluation meeting. By this means, this research offered to achieve business solutions and objectives that Natural House might be considered and found useful for further research and business development.

Investment Analysis of Hotel Industry in the Stock Market

Investment in the hotel industry is highly uncertain, and it is impossible to determine whether the industry will recover. Given that most people are aware of the downturn in the hotel industry, it is worth studying whether it is the right time to re-enter this stock market. Because of Covid-19, business in the hotel industry has not been particularly good. Analyze which stocks are suitable for investment and whether they are the same as I imagined. The three stocks studied in the article are all in the hotel industry. By studying their stock prices over the past year, see what types of investors would invest in these companies. Judging from the research results, these three companies have their corresponding investors. By studying the stocks of these three companies, it can be seen that the industry has taken another upward trend in the past year. This may satisfy the demand of investors.

Quantum computing in drug discovery

Quantum computers are recently being developed in wide varieties, but the computational results from quantum computing have been largely confined to constructing artificial assignments. The applications of quantum computers to real-world problems are still an active area of research. However, challenges arise when the limits of scale and complexity in biological problems are pushed, which has affected drug discovery. The fast-evolving quantum computing technology has transformed the computational capabilities in drug research by searching for solutions for complicated and tedious calculations. Quantum computing (QC) is exponentially more efficient in drug discovery, treatment, and therapeutics, generating profitable business for the pharmaceutical industry. In principle, it can be stated that quantum computing can solve complex problems exponentially faster than classical computing. Here it is needed to mention that QC will not be able to take on every task that classical computers perform—at least not now. It may be classical and quantum-coupled computational technologies combined with machine learning (ML) and artificial intelligence (AI) will solve each task in the future. This review is an overview of quantum computing, which may soon revolutionize the pharmaceutical industry in drug discovery.

Pertanggungjawaban Terhadap Perbuatan Melawan Hukum Dalam Pengadaan Ternak Sapi

The purpose of the paper is to understand the legal responsibility faced by individuals or entities in the event of unlawful acts in the procurement of cattle. In the cattle procurement industry, there are often practices that are not in accordance with the law, such as falsification of documents, improper feeding, and fraud in transactions. This research method used is a normative juridical approach, this study examines various regulations, regulations, and legal cases relevant to illegal acts in the procurement of cattle. The results of this study show that there is a strict legal framework governing the responsibility of individuals or entities that commit unlawful acts in the procurement of cattle. Business actors are expected to understand and comply with applicable regulations to avoid sanctions and ensure the sustainability of their business in the cattle procurement industry.

Quantum computing in drug discovery

Quantum computers are recently being developed in wide varieties, but the computational results from quantum computing have been largely confined to constructing artificial assignments. The applications of quantum computers to real-world problems are still an active area of research. However, challenges arise when the limits of scale and complexity in biological problems are pushed, which has affected drug discovery. The fast-evolving quantum computing technology has transformed the computational capabilities in drug research by searching for solutions for complicated and tedious calculations. Quantum computing (QC) is exponentially more efficient in drug discovery, treatment, and therapeutics, generating profitable business for the pharmaceutical industry. In principle, it can be stated that quantum computing can solve complex problems exponentially faster than classical computing. Here it is needed to mention that QC will not be able to take on every task that classical computers perform—at least not now. It may be classical and quantum-coupled computational technologies combined with machine learning (ML) and artificial intelligence (AI) will solve each task in the future. This review is an overview of quantum computing, which may soon revolutionize the pharmaceutical industry in drug discovery.

Analysis Business Model Of SMEs Craft Industry In The North Sumatra Province

The aim of this research is to determine and analyze the SWOT formulation of the shell industry business in Provinsi Sumatera Utara. The data processing and analysis methods used were factor tests and discriminant analysis using the Cochran and Kaiser Meyer Olkin Measure of Sampling (KMO) tests. It is hoped that the results of this research can strengthen the results of previous year's research by exploring potential marketing strategies and comparisons of each industry. The formulation of a blue ocean strategy that can be recommended to Provinsi Sumatera Utara Small and Medium Industries (HCI), includes: (1) Through the six paths framework, there are four alternatives that can be used by Provinsi Sumatera Utara SMEs to reconstruct its market boundaries, including looking at alternative industries, strategic groups, complementary product and service offerings, and emotional-functional appeal for buyers. (2) Formulation of a four-step framework by enhancing hospitality and decorum; as well as creating hall or auditorium packages for exhibitions as well as product packages, supporting facilities, promotions via social networks, light visualization concepts, and rental of stands to provide appetizers. (3) Strategy formulation has three good characteristics, namely focusing on service and improving product marketing, divergent with the creation of new factors that can make Provinsi Sumatera Utara SMEs stay away from competition. Formulation Model The competitive strategy for the Shellfish industry is formulated using the SWOT Strategy, namely (1) The appropriate SWOT strategy for Shellfish SMEs in developing their business and facing competition between businesses (commercial studies) is another market penetration strategy that emerges from the QSPM matrix. (2) The factor that is the advantage of the Shell Shell HCI which can be used to increase competitiveness in facing competition between used tire businesses is the cheaper price factor. (3) There are 9 key strategic factors that influence competition between HCI Shellfish and its competitors, these strategic factors are finance, price, operational techniques, operational costs, facilities and infrastructure, promotion and advertising, transportation facilities, service quality, completeness of business operational equipment.