Business Innovation Research Articles

Implementation of Smart Toilets as An Innovative Business Model in Public and Private Institutions

Implementation of Smart Toilets as An Innovative Business Model in Public and Private Institutions

The impact of population aging on business innovation: a comprehensive overview

Population ageing is defined as the number of people aged 65 and over reaching 7 per cent of a country's total population. As our country enters the twentieth century, it is also entering an ageing society. On the one hand, population aging affects the effective supply of labour, the physical function of workers declines along with their willingness to work, and the burden of supporting the labour force in their prime years increases, which increases the operating costs of enterprises, hinders enterprise innovation, and is not conducive to technological advancement; it also pushes enterprises to increase their investment in human capital and technological innovation, enhances labour productivity, and promotes enterprise innovation. As the technological paradigm shifts, latecomer firms can win the competition, offset the negative effects of population ageing, and achieve technological innovation and economic growth as long as they are at the top of the shift.

A Comprehensive Literature Review on AI and Its Impact on Business Value

This comprehensive literature review explores the intersection of artificial intelligence (AI) and business value, aiming to provide a holistic understanding of how AI technologies influence organizational performance and economic outcomes. The review synthesizes research findings from diverse studies to examine the multifaceted impacts of AI on various aspects of business value, including operational efficiency, strategic decision-making, customer experience, and competitive advantage. The review begins by defining key AI technologies such as machine learning, natural language processing, and robotics, and their applications within different industry sectors. It then delves into how these technologies contribute to enhanced business processes, cost reduction, innovation, and revenue growth. Special attention is given to case studies and empirical research that demonstrate the tangible benefits and challenges associated with AI adoption in business contexts. Additionally, the paper addresses the role of AI in fostering datadriven decision-making and its implications for organizational agility and strategic alignment. The review also highlights gaps in the existing literature, such as the need for more longitudinal studies and sector-specific analyses to better understand the long-term effects of AI on business value. By providing a consolidated view of current research and identifying future research directions, this review offers valuable insights for academics, practitioners, and policymakers interested in leveraging AI to maximize business value and achieve sustainable competitive advantage

Innovation and Business Growth: Personality, Sociological and Environmental Factors in Entrepreneurs

Researchers frequently wonder why some entrepreneurs run small and medium-sized businesses (SMEs) more successfully than others and why different SMEs have different survival rates even in the same operational environment. This has resulted in a need to investigate how other factors such as personality, sociology and environtment may mediate relationships between innovations and the growth of SMEs. This research was conducted on entreprenuers in Mataram City. This type of research is quantitative research. The analysis tool uses PLS analysis. It was found that personality has a significant direct and indirect influence on business innovation and business growth at a 10 percent test alpha. The sociological factors have a significant influence on alpha 5.00%, both directly and indirectly on innovation and business growth. Environmental factors are empirically ignored because they do not have a significant direct and indirect influence on business innovation and business growth. The contribution of this study is the clarification of the facts of personality and sociological factor of entrepreneurs and the indication that external environments can impact the business innovation and growth of entreprenuers.

Funding Opportunities for Innovative Enterpreneurship in Georgia

In the modern world, innovative business is an opportunity to implement new ideas and introduce innovation. The entrepreneurial sector contributes to the introduction and development of modern business. Financing mechanisms are the most important obstacle to innovative activities in small and medium-sized enterprises. The paper’s main goal is to determine the possibilities of access to finance, the ways of obtaining financing, and the challenges of innovative entrepreneurs. To evaluate the impact of private and state support programs in creating an innovative product. The work discusses the essence of innovation and the subjects of innovative activity. It is about all the necessary information an entrepreneur needs to create an innovative product. Attention is also focused on the importance of private and state programs in financing. The work is also based on qualitative research, identifying factors hindering access to finance. The paper outlines ways and perspectives of access to finance. In the future, paying more attention to both the private sector and the state is necessary. Because creating innovation is their common interest. The government of Georgia needs the right policy and priority directions. In particular, the establishment of tax benefits and preferential loan conditions. It is important to raise education and awareness in society in the direction of entrepreneurship. The obtained results will allow us to measure the effectiveness of the support programs. Conclusions on the optimization of innovative entrepreneurship are formulated.

Analysis Of The Influence Of Artificial Intelligence On Business Innovation (Literature Review Study)

Technology plays a very important role in a business, one of which is Artificial Intelligence (AI). This research was conducted to determine the impact of AI on business innovation and the challenges faced in its implementation. This research is carried out using the Literature Review method. Data in this research is collected through various electronic media. The findings in this study are AI can automate routine tasks, increase accuracy and efficiency, and provide in-depth data analysis. Although AI replaces many human analytical skills, the need for intuitive and empathetic abilities is increasing. This shows the importance of a new approach in human-machine interaction, where AI and human skills work synergistically to provide optimal service. But in its implementation, AI has obstacles such as costs, privacy, quality of human resources, and legal regulations. Overall it can be underlined that Artificial Intelligence (AI) affects the business of business.

Business Networking, Innovation, and Firm Competitiveness: The Case of Handicraft Industry in Indonesia

Business Networking, Innovation, and Firm Competitiveness: The Case of Handicraft Industry in Indonesia

Green Innovation And Organizational Culture Toward Corporate Value: Moderation Role Of Competitive Advantage

The study aims to analyze the impact of green innovation and organizational culture on corporate value and competitive business strategy as moderating variables. This type of research is quantitative, with secondary data sources. During the 2016–2020 period, the population of this study consisted of 74 energy sector companies. Purposive sampling, the chosen sampling technique, yielded a total sample of 53 energy sector companies. The technique for collecting data involves accessing financial report documentation from the Indonesian Stock Exchange website. The SPSS program facilitates the data analysis technique, which employs descriptive analysis and regression with moderation effects. The research results show that green product innovation, hierarchical culture, clan culture, and competitive business strategy do not affect corporate value. The competitive business strategy strengthens the influence of product innovation and organizational culture on corporate value in the energy sector. Theoretically, this research can complement the factors influencing corporate value through the moderating role of competitive business strategy. This research can be a practical reference and illustration for companies considering competitive business strategy factors.

The Business Development Trends and Innovations in the Digital EconomyA Case Study of Apple

The Business Development Trends and Innovations in the Digital EconomyA Case Study of Apple

Business model development for installation of rubber floor mats to support productivity in dairy farming

Purpose. Ribbed smoked sheet (RSS) rubber gradually loses its quality as it is stored after production. Rubber floor mats are recommended as a marketable upstream production in the Thailand rubber industry to help add economic value to low-graded RSS. However, limited attention in research has been paid to business development, particularly on practical models focusing on the demand perspectives. This study helped fill the knowledge gap by analysing factors influencing labour production in dairy farming and proposing a business model based on productivity analysis. The aim of the project was to create a practical business model for cattle rubber floor mats made of low-graded RSS rubber used for nourishing and housing management to promote labour productivity in dairy farming. Methodology / approach. The study used mixed-methods research. A theoretical framework was developed concerning rubber floor mats used in dairy farming, which helped improve the nourishing and housing management of dairy cattle and promote labour productivity. This research adopted Osterwalder’s business model canvas to examine the demand and supply elements of dairy cattle floor mats made of low-graded rubber. It also used the knowledge-based entrepreneurship concept to scrutinise knowledge-based business development. A questionnaire survey was used to collect data required for multiple regression analysis of labour productivity using the Ordinary Least Square (OLS) method. It also used semi-structured interviews to scrutinise the subjective experiences of farmers. A focus group discussion was conducted to investigate academics and rubber promotional authorities concerning potential technology and the possibility of transfer of production technology to promote knowledge-based business development. Results. The empirical evidence presented in this paper confirmed that rubber floor mats could help enhance cattle nourishment, dairy housing management and labour productivity. Regional knowledge transfer network was revealed as a driver of knowledge-based development for assisting local upstream rubber farmers in pursuing eco-innovation in rubber production, aligning with the national initiatives of Industry 4.0 and Bio-Circular-Green economy (BCG) concepts. Originality / scientific novelty. The originality of this paper is that it presents the results of an empirical study using mixed methods for the first time aiming at clarifying practical elements of the supply and demand sides’ components of the Osterwalder`s Business Model Canvas for developing a business model delivered as a knowledge-based business model for the production of dairy cattle floor mats made of low-graded RSS rubber to help guide practical downstream rubber business development. The qualitative results, together with the quantitative analysis of labour productivity, are based on the perceptions of local farmers in Thailand regarding the use of rubber floor mats on the farm; previous studies scientifically prove its positive relation to an increase in dairy cattle nourishing, hence the daily productivity. Practical value / implications. The novel business model canvas could promote the practical cattle floor mats business development. University engagement and public support were included as the critical drivers in this knowledge-based business model. The model implementation could help encourage rubber farmers and smallholders in upstream rubber production to move towards downstream business development and become knowledge-based entrepreneurs in value-added rubber floor mats production. It could also guide the agricultural policymakers to benchmark and evaluate their policy targeting innovative knowledge-based business development for rubber extension.

Enhancement of the market attractiveness and success of startups on the circular economy and sustainability principles

Purpose. The purpose of this study is to develop the methodology and the framework for assessing the level of environmental friendliness of startups in the agricultural sector and their compliance with the circular economy and sustainable development principles using T. L. Saaty’s analytic hierarchy process (AHP) to enhance their market attractiveness and success. Methodology / approach. The author’s methodology was created based on the AHP approach which is a comprehensive decision-making framework used to divide complex problems into a clear hierarchical structure. This approach enables the evaluation and comparison of multiple criteria facilitating informed decision-making. Calculations have been made in the RStudio. Results. The authors’ methodology and the framework for assessing the startups’ environmental friendliness and compliance with the circular economy and sustainability principles were created. The unique program was developed and executed in the RStudio using R programming language. The created methodology is based on the hierarchical criteria system consisting of three main criteria – “Compliance with the EU environmental standards and sustainability principles promotion”, “Compliance of the startups’ business model to the circular economy and sustainability principles”, and “Resource usage rationality” with the corresponding sub-criteria. It was determined that the first criterion has the highest impact on the startup eco-friendliness with a weight of 49.2 %, the second one has a weight of 28.7 %, and the third one – 22.1 %. The system of requirements for the AHP experts was also developed. Originality / scientific novelty. It was substantiated that the application of the original authors’ methodology and program enhance the startups’ market attractiveness and success by strengthening their brand image. The proposed solution facilitates the implementation of the circular economy and sustainability principles for innovative businesses, leading to improvements in environmental protection and waste management. Practical value / implications. The methodology has been tested on the example of the authors’ bioenergy startup for producing eco-friendly biofuels using agricultural and food industry wastes and minimising the usage of toxic substances. Based on the experts’ opinion and using the authors’ unique program it was calculated that the startup complies with the circular economy and sustainability principles and has an eco-friendly brand image with a 78.6 % probability.

Profiling dan pemetaan riset innovation ambidexterity melalui pendekatan bibliometrik

This study aims to provide a comprehensive picture of current conditions and future research potential in innovative ambidexterity research. To achieve this goal, this study uses a bibliometric approach, the data sources used are secondary data sources, where the data used is in the form of 81 research articles taken in the Scopus database. In addition, selected articles are published by well-known publishers, namely Elsevier, Inderscience Publishers, Springer, Emerald, Routledge, Cogent, and Sage Publications. The results of the co-occurrence analysis and thematic map outline various emerging research topics in its clusters. Dimanqa cluster 1 covers issues such as Construction Industry, Corporate Social Responsibility, Environmental Innovation, Finance, Functional Laterity, Hemispheric Dominance, Human Resources Management, Management Practice, Manufacturing, Microfoundation, Open Innovation, Performance, Social Capital, and Sustainability. Cluster 2 raised topics such as business development, competitiveness, digital transformation, information management, information processing, innovation performance, investment, marketing, organizational framework, performance assessment, regression analysis, social network, and sustainability development. Meanwhile, cluster 3 highlights The third cluster consists of empirical analysis, entrepreneurial orientation, exploitation, exploration, industrial performance, intellectual capital, pharmaceutical industry, strategic entrepreneuship, technological development. The fourth cluster consists of business performance, dynamic capabilities, enterprise resource management, industrial management, information analysis, knowledge management, knowledge transfer, least squares approxima, radical innovation. Meanwhile, the fifth cluster consists of connectedness, decision making, environmental dynamis, firm performance, knowledge management, technological innovation, top management team. The sixth cluster consists of absortive capacity, business process performance, exploitative innovation, exploration innovation, and Small Medium Enteprise. And, the seventh cluster consists of competitive intensity. Future research themes in the realm of innovation ambidexterity can be presented or connected with strategic entrepreneurship, exploitative innovation, digital transformation, and innovation performance.

Utjecaj korporativnog poduzetništva na inovacije poslovnog modela poduzeća u Bosni i Hercegovini nakon pandemije COVIDA-19

The study presented in this paper explored the relationship between corporate entrepreneurship and business model innovation of companies in Bosnia and Herzegovina (B&H) after the COVID-19 pandemic. In particular, the authors aimed to analyze how the individual dimensions of corporate entrepreneurship influence business model innovation by using the dynamic capabilities view. The study empirically analysed a sample of 100 companies using regression analysis. The findings revealed that each dimension of corporate entrepreneurship positively and significantly impacts business model innovation. Innovativeness, proactiveness, risk-taking, autonomy, and competitive aggressiveness positively affected the innovation of the business model. The results of this study confirm that entrepreneurial initiative is a good predictor of a company’s ability to innovate business models. The implication for management is to deepen the understanding of how corporate entrepreneurship promotes and shapes an innovative business model. This increases companies’ success and overall well-being in B&H after the COVID-19 pandemic.

Exploring Collaborative Co-Signing Intelligence and Parallel Distributed Algorithms for Integrating Internal and External Documents

In today’s complex and linked technology environments, attaining business efficiency and innovation is crucial. In this paper, an innovative architecture combining parallel distributed algorithms and collaboratively co-signing intelligent verification frameworks is introduced. By promoting safe and effective interaction among heterogeneous systems, this synergistic method seeks to improve the integration process. Diverse systems are proliferating in both internal and external domains, requiring sophisticated integration solutions. Real-time data interchange, interoperability, and security are common issues with existing methods. By using parallel distributed algorithms and intelligent verification models, the suggested framework aims to overcome these difficulties. The framework presents a novel approach to confirming the integrity and validity of data transferred between systems by utilizing collaborative co-signing. Co-signing increases security and confidence in the integrated environment by having several parties jointly validate the information. Through the introduction of parallel distributed algorithms and collaborative co-signing smart verification models, this research advances a comprehensive strategy for smooth integration of systems. The results highlight how the framework can facilitate safe and effective data interchange between external and internal systems, opening the door for more developments in connected technology environments in the future.

Technological innovation capacity of MNEs in China: studying the cross-cultural effects

ABSTRACT This study investigates how home country cultural dimensions influence the technological innovation capacity (TIC) of multinational enterprises (MNEs) in China. Drawing on Hofstede’s cultural framework, we examine five key dimensions of national culture in relation to TIC indicators, including patents, R&D centres, and foreign direct investment. We also consider how the cultural distance between home and host countries moderates these relationships. Data were collected from a sample of prominent MNEs in China across diverse home countries and industries. Using structural equation modelling, results reveal significant positive effects of power distance, collectivism, and long-term orientation on TIC. However, uncertainty avoidance and masculinity have no significant impact. Cultural distance positively moderates the effects of power distance and uncertainty avoidance, but not other dimensions. These findings contribute new insights into how home country culture shapes MNEs’ development of innovation capacity abroad. The results have key implications for research integrating culture and innovation in international business.

Significance and Strategy of Developing Chinese Traditional Business Culture Curriculum Standards in Chongqing Business Colleges

Business culture has been passed down in China for thousands of years and plays an important role in cultivating outstanding business talents. The purpose of this paper is to explore the significance and strategy of developing the curriculum standard of Chinese traditional business culture. First of all, by analyzing the concept of business culture, we can deeply understand the unique value of Chinese traditional business culture. Secondly, it discusses the significance of the development of business culture curriculum standards for cultivating students' professional quality, providing cultural support for innovation and entrepreneurship education and building a cultural power, and recognizes its importance to business college education. Finally, according to the data obtained from the questionnaire survey, this paper puts forward some strategies and suggestions for developing Chinese traditional business culture courses in Chongqing business colleges. Through this study, first, I hope to provide support for Chongqing business colleges to cultivate business talents with Chinese business wisdom and innovation ability; Second, I hope to promote the unique value of Chinese traditional culture in the commercial field to be more widely recognized and applied.

Total Quality Marketing Training to Enhance Value-Added for Red Brick Business in Kesik Village, East Lombok

The target audience for this activity is the owners of red brick craft businesses in Kesik Village, Masbagik District, East Lombok. This activity will equip business operators with concrete and applicable strategies and models related to innovative business governance and suitable for the creative industry. The PPM team will pay special attention to marketing aspects based on Total Quality Management (TQM). Integrating TQM into marketing functions, Total Quality Marketing is crucial for a company, including small industries, to develop the structure and value-added of the business. Total Quality Marketing will ensure companies to focus on the market, thereby continuously improving business processes to respond to rapid changes from the market and customers

Advancing Retail Predictions: Integrating Diverse Machine Learning Models for Accurate Walmart Sales Forecasting

In the rapidly evolving landscape of retail analytics, the accurate prediction of sales figures holds paramount importance for informed decision-making and operational optimization. Leveraging diverse machine learning methodologies, this study aims to enhance the precision of Walmart sales forecasting, utilizing a comprehensive dataset sourced from Kaggle. Exploratory data analysis reveals intricate patterns and temporal dependencies within the data, prompting the adoption of advanced predictive modeling techniques. Through the implementation of linear regression, ensemble methods such as Random Forest, Gradient Boosting Machines (GBM), eXtreme Gradient Boosting (XGBoost), and Light Gradient Boosting Machine (LightGBM), this research endeavors to identify the most effective approach for predicting Walmart sales. Comparative analysis of model performance showcases the superiority of advanced machine learning algorithms over traditional linear models. The results indicate that XGBoost emerges as the optimal predictor for sales forecasting, boasting the lowest Mean Absolute Error (MAE) of 1226.471, Root Mean Squared Error (RMSE) of 1700.981, and an exceptionally high R-squared value of 0.9999900, indicating near-perfect predictive accuracy. This model's performance significantly surpasses that of simpler models such as linear regression, which yielded an MAE of 35632.510 and an RMSE of 80153.858. Insights from bias and fairness measurements underscore the effectiveness of advanced models in mitigating bias and delivering equitable predictions across temporal segments. Our analysis revealed varying levels of bias across different models. Linear Regression, Multiple Regression, and GLM exhibited moderate bias, suggesting some systematic errors in predictions. Decision Tree showed slightly higher bias, while Random Forest demonstrated a unique scenario of negative bias, implying systematic underestimation of predictions. However, models like GBM, XGBoost, and LGB displayed biases closer to zero, indicating more accurate predictions with minimal systematic errors. Notably, the XGBoost model demonstrated the lowest bias, with an MAE of -7.548432 (Table 4), reflecting its superior ability to minimize prediction errors across different conditions. Additionally, fairness analysis revealed that XGBoost maintained robust performance in both holiday and non-holiday periods, with an MAE of 84273.385 for holidays and 1757.721 for non-holidays. Insights from the fairness measurements revealed that Linear Regression, Multiple Regression, and GLM showed consistent predictive performance across both subgroups. Meanwhile, Decision Tree performed similarly for holiday predictions but exhibited better accuracy for non-holiday sales, whereas, Random Forest, XGBoost, GBM, and LGB models displayed lower MAE values for the non-holiday subgroup, indicating potential fairness issues in predicting holiday sales. The study also highlights the importance of model selection and the impact of advanced machine learning techniques on achieving high predictive accuracy and fairness. Ensemble methods like Random Forest and GBM also showed strong performance, with Random Forest achieving an MAE of 12238.782 and an RMSE of 19814.965, and GBM achieving an MAE of 10839.822 and an RMSE of 1700.981. This research emphasizes the significance of leveraging sophisticated analytics tools to navigate the complexities of retail operations and drive strategic decision-making. By utilizing advanced machine learning models, retailers can achieve more accurate sales forecasts, ultimately leading to better inventory management and enhanced operational efficiency. The study reaffirms the transformative potential of data-driven approaches in driving business growth and innovation in the retail sector.

Innovative Entrepreneurship Case Study for Virtual Business: The Cultural Phenomenon of Rentaru Kareshi in a Post Modern Consumer Society

This research explores the cultural phenomenon of Rentaru Kareshi as an innovative manifestation of entrepreneurship in virtual business among consumers in postmodern society. Rentaru Kareshi, or girlfriend rental service, is a service that offers temporary social connections through virtual and face-to-face media, reflecting changing social dynamics and identity expressions in the digital era. Using qualitative methods and a case study approach, this research analyzes various aspects of this business model, including business opportunities, marketing strategies and operational procedures. The research focus is the Instagram application on the Sewapacarbdgg account, namely @sewapacarbdgg, then the researcher will conduct in-depth interviews with informants. The data analysis technique used is the Manual Data Analysis Procedure (MDAP), from the results of interviews accompanied by triangulation of sources and theories to produce findings regarding Business Opportunities which link the themes to the propositions Inspiration, Benefits, Recognizing Needs, Current Trend, Think Uniquely and Innovatively. by using Marketing Strategy Contact Form, Advertising System, Payment System and Rental Partner operational systems, Vision Rental Partner, Agency Rental Partner, Talent Rental Partner. The research results show that Rentaru Kareshi not only meets consumers' emotional and social needs but also creates a new market niche in the digital economy. The service successfully combines effective advertising strategies and an efficient payment system to build strong and sustainable customer relationships. This research contributes to a deeper understanding of innovative business opportunities in a postmodern consumer society and offers valuable insights for the development of business strategies in the context of an evolving digital economy.

Kemajuan Teknologi Informasi dalam Perkembangan Bisnis Global

This study analyzes the impact of information technology advances in global business using a qualitative research approach. The introduction presents the background to the importance of information technology in company expansion, operational efficiency, and business innovation. The purpose of the study is to provide a deeper understanding of the role of information technology in business strategy and operations in the global market. The research method used is a review of various sources of information which is then compiled into a new study. Results and discussions show that information technology facilitates global expansion through digital communication tools, efficient cross-border collaboration, and integrated supply chain management. In addition, information technology improves operational efficiency through business process automation and advanced data analysis. Furthermore, information technology becomes a catalyst for innovation and business growth through easy access to data and information, collaboration among stakeholders, and adoption of new business models. The conclusion emphasizes the importance of integrating information technology in the company's business strategy to maintain competitiveness in an increasingly complex global market. By utilizing information technology optimally, companies can achieve operational efficiency, meaningful innovation, and sustainable business growth.