Business Innovation Research Articles

Nghiên cứu tác động của sức mạnh thị trường tới sự ổn định của các ngân hàng thương mại Việt Nam

This paper investigates the impact of market power on the stability of Vietnamese commercial banks using a quarterly unbalanced panel data set of 22 commercial banks in the period from Q2:2015 to Q3:2023, combined with panel data analysis models. Research results show that market power has a negative impact on the stability of Vietnamese commercial banks, implying that a more competitive banking market will have higher stability. In addition, a higher non-performing loan ratio, loan-to-deposit ratio and inflation also make banks less stable, as these factors increase bankruptcy risk, liquidity risk, and credit risk. On that basis, this paper proposes some policy recommendations to improve the stability of Vietnamese commercial banks, including creating a favorable banking business environment, encouraging diversification and innovation in the banking market (such as supporting small banks to increase capital or establish FinTech in a controlled manner). In addition, commercial banks need to proactively manage their internal factors such as credit risk and loan to deposit ratio to ensure stability.

Perspectives from the Local Community on Strategies for Community Transformation in Uganda’s Public Universities

Several Universities in Sub-Saharan Africa (SSA) rarely have a clearly defined strategy for transforming communities. This is partly because some are still built on colonial models, which place a strong focus on theory, rote learning, and memorisation, where learners duplicate the content during examinations with little or no impact on the community. As a result, the surrounding communities continue to grapple with high levels of poverty, illiteracy, poor housing, disease, and poor-quality health and hygiene. This study explores the strategies Gulu University is using to transform the post-conflict community of Gulu City, northern Uganda. A cross-sectional research design was used involving 390 households. Self-administered questionnaires were employed to collect data on community perceptions of the operationalisation of the different strategies employed by Gulu University to transform the community. Descriptive statistics was used to determine the most outstanding strategies and their associated variables, while chi-square test was performed to assess the relationship between community perception of the existence of Gulu University and the strategies of community transformation. Findings revealed that, first, Gulu University’s strategy of knowledge application has been perceived by the surrounding community to have worked well by increasing employment opportunities, providing young people with opportunities for meaningful livelihood activities, reducing crime, and fostering enterprise development in the surrounding community. Second, the strategy of partnerships and community projects has paid off by providing scholarships to help community members further their education. However, there is still more to be done in terms of knowledge generation strategy through skill training, knowledge transmission strategy through technology transfer, primary health care, better farming engagements, and innovative business services, as well as partnerships and community projects strategy via enterprise development. Furthermore, findings indicated that there was a significant association between community perceptions of transformation and the existence of Gulu University. The findings highlight potential areas of focus for Gulu University and other Ugandan universities for formulating policies that higher institutions of learning can employ to transform communities. Besides, future research should explore the dimensions of community transformation that influence the role of higher institutions of learning in transforming communities

An innovative business model using established Medicare items for delivery of cardiac rehabilitation: A value proposition for primary care.

Approximately 70% of Australians do not attend cardiac rehabilitation (CR). A potential solution is integrating CR into primary care OBJECTIVE: To propose a business model for primary care providers to implement CR using current Medicare items. Using the chronic disease management plan, general practitioners (GPs) complete four clinical assessments at 1-2 weeks, 8-12 weeks, and 6 and 12 months after discharge. The net benefit of applying this model, compared with claiming the most used standard consultation Item 23, in Phase II CR is up to $505 per patient and $543 in Phase III CR. The number of rural GPs providing CR in partnership with the Country Access To Cardiac Health (CATCH) through the GP hybrid model has increased from 28 in 2021 to 32 in 2022. This increase might be attributed to this value proposition. The biggest limitation is access to allied health services in the rural areas.

Business Models on the Energy Market in the Era of a Low-Emission Economy

In the energy market, we observe a dynamic development of innovative business models that take into account various aspects related to the direction of zero-emission economic growth. Companies are intensifying their efforts in utilizing renewable energy sources, implementing significant photovoltaic projects, and advancing technologies related to wind and hydrodynamic energy. Within this trend, microgrids become a crucial element, enabling efficient management of local energy sources. Contemporary energy companies also focus on innovative digital technologies, harnessing the potential of the Internet of Things (IoT) and artificial intelligence (AI). These tools allow for precise monitoring and optimization of energy consumption, resulting in increased operational efficiency. The expansion of subscription-based energy services encompasses not only traditional energy deliveries but also new aspects, such as intelligent management of home energy installations or the provision of advisory services on energy conservation. This approach emphasizes the customer as a partner in sustainable energy usage. Hybrid energy models, integrating diverse energy sources, constitute a key element in the transformation of the sector. The combination of photovoltaic, wind, and traditional power plants allows for flexible adaptation to changing conditions and maintains stability in the energy supply. In the face of a changing energy landscape, companies consistently strive for sustainable practices, implementing strategies that not only reduce their carbon footprint but also contribute to improving efficiency, ecology, and the decentralization of the energy system. Adapting to these dynamic changes becomes not only a challenge but also an opportunity to create a more sustainable energy future. The objective of this research is to analyze key business models in the energy market and identify their impact on operational efficiency and market competitiveness. The main results indicate significant improvements in energy management and sustainability through the adoption of these models.

Effects of Business Innovation and Technology Adoption on Libyan SMEs’ Performance: Mediation by Sustainable Development

Purpose: This research examines the reliability of a developed questionnaire intended for use in a large-scale application. Also, existing literature has underscored the relationship between Business Innovation and Technology Adoption in the performance of Small and Medium-sized Enterprises (SMEs) in Libya. Also, SMEs encounter various challenges that impede their growth and success, including constraints related to capital and business development. Design/Methodology/Approach: This study used SPSS software to analyze demographic attributes and internal consistency validity and validate all constructs as determine Pearson’s correlations. Findings: The results revealed that 50% of respondents were owners and 50% were managers. Internal consistency reliability ranged from 0.961 to 0.974, indicating strong consistency across all components. Specifically, reliability coefficients were 0.961 for Strategic Planning, 0.966 for Business Innovation, 0.961 for Technology Adoption, 0.968 for Sustainable Development, and 0.974 for SMEs. Pearson’s correlations ranged from 0.961 to 0.974, confirming the validation of all questionnaire elements with Cronbach's alpha coefficients predominantly exceeding 0.6, a widely accepted threshold among researchers. Implications/Originality/Value: The results support advancing the study to broader testing and analysis phases.

Digitalisasi Mempengaruhi Kinerja Perusahaan: Peran dari Bisnis Model Inovasi (Evidence from Indonesia)

Advances in digitalization provide various opportunities to innovate and create value. It is hoped that this research can be a reference for academics and practitioners that companies need to prioritize investment in digital assets and technology that are integrated in innovative business processes so that they can create value and improve company performance. This research aims to determine the influence of digital operations capabilities and digital integration capabilities through the role of business model innovation in improving company performance. This research method uses purposive sampling on industrial companies in 2020-2022 with 120 data with a panel data regression model. The research results show that digital operational capabilities, digital integration capabilities and efficient business model innovation are not able to mediate digital operational capabilities and company performance. However, the efficiency of the innovation business model is able to mediate the relationship between digital integration capabilities and company performance

Bamboo Crafts Business Development Model Reviewed From The Perspective Of Maslahah

Bamboo is a versatile plant with superior ecological properties, offering great potential for the development of craft businesses that are sustainable and beneficial to society. This research aims to formulate a bamboo craft business development model based on the concept of maslahah, namely realizing benefits and benefits for all parties involved. Bamboo craft art is a local product produced by skilled hands so that it produces unique products and has economic value. Bamboo craft products are no longer foreign to us, especially to people from Sidodadi Village, Beringin. The business model of innovation in the bamboo craft business aims to develop products to create products that are efficient and competitive. The method used in this research is a qualitative method with an observation and interview approach. The aim of this research is to find out and examine how the bamboo craft business development model is viewed from a maslahah perspective. The results of this research show that this research does not provide benefits because there is still a lack of employee welfare, there is no development of product models, and distribution is not wide enough and the quality of raw materials is not good

AI-Enabled Business Models and Innovations: A Systematic Literature Review

AI-Enabled Business Models and Innovations: A Systematic Literature Review

DESIGN THINKING FOR BUSINESS INNOVATION IN ASIA: THE CULTURAL PERSPECTIVE

As a human-centered innovation approach, design thinking (DT) has been widely applied in a variety of industries and spheres to create new and enhance existing products, services and processes by organizations around the globe. DT is highly collaborative, involves direct communication/feedback and requires cross-functional/cross-hierarchical participation. DT is also iterative, necessitating embracing risk and ambiguity of the experiment and instead of penalizing ‘failures’, learning promptly from them. Nevertheless, Asian countries are often described as high power distance, high uncertainty avoidance, collectivist cultures in which high context and indirect communication are implied. This conceptual article includes analysis of academic research articles, reports, interviews and books by design thinking experts to analyze advantages of design thinking for business innovations, discuss major cultural characteristics of Asian countries using Hofstede’s cultural dimensions and respective challenges in applying design thinking. It concludes by providing practical recommendations, limitations of the analysis and suggesting aspects for future research.

Meta: XR-AR-MR and Mirror World Technologies Business Impact of Metaverse

Metaverse offers opportunities for companies to create innovative business models by providing a virtual platform where they can sell products and services and interact with customers in new and unique ways. Extended Reality (XR), Augmented Reality (AR), Mixed Reality (MR) and Mirror World technologies are important technological pathways for the metaverse. The metaverse concept is changing organizational structures with new opportunities and shaping the workforce for the future environment. The purpose of this review article is to discuss the concept of metanomics, the business implications of the metaverse in the context of the economy, business and employee-based value, future workforce, B2B opportunities and new business models. The concept of metaptation was associated with the metaverse in later studies to be conceptualized within the framework of adaptation theory. This review concludes by asserting that as the metaverse continues to evolve, driven by advancements in XR, AR, MR, and Mirror World technologies, it will not only revolutionize traditional business models but also necessitate a new paradigm of metaptation, where businesses must continuously adapt to harness the full potential of the metaverse in the realms of economic growth, innovative B2B opportunities, workforce development, and customer engagement. In order to be successful in this dynamic change process, businesses should adopt a strategic approach to adopting these innovative technologies. These strategic steps of businesses will contribute to gaining competitive advantage by enabling them to make the most of the commercial potential of the Metaverse.

Green Technology Opportunities and Challenges in Sustainable Marine Logistics

The maritime logistics sector plays an important role in supporting global trade, but also contributes to significant greenhouse gas emissions and environmental impacts. To overcome these challenges, the adoption of green technologies is becoming increasingly important in achieving sustainable maritime logistics. This research aims to explore the opportunities and challenges of implementing green technology in the maritime logistics industry. Through literature studies, interviews with stakeholders, and case studies, this research identifies three main opportunities, namely reducing emissions and environmental impacts, operational efficiency and cost savings, as well as regulatory compliance, and improving company reputation. However, significant challenges were also identified, including high initial investment costs, lack of supporting infrastructure, regulatory barriers, and limited incentives. To overcome this challenge, collaboration between government, industry, financial institutions, and civil society is needed to develop a comprehensive regulatory framework, provide incentives, and facilitate investment in supporting infrastructure. Further research is also needed to analyze the environmental impacts and life cycle costs of different green technologies, as well as explore innovative business models and funding strategies. The transition towards green and sustainable maritime logistics is not only important to preserve the environment, but also to ensure long-term economic and social sustainability.

Flexing to outperform: workforce differentiation, HR flexibility and firm performance

PurposeResource orchestration theory proposes that firms need resources, capabilities, and horizontal and vertical alignment to achieve high performance. Thus, we investigate which combinations of horizontal fit of resources (commitment-based HR systems for managers and nonmanagers) and capabilities (HR flexibility) together with vertical fit with business strategy (innovation versus cost leadership strategies) relate to superior performance.Design/methodology/approachOur study is based on a sample of 113 Spanish firms from which we collected data on commitment-based HR systems for managers and nonmanagers, HR flexibility, business strategy and performance. We employ a fuzzy set qualitative comparative analysis (fsQCA) to analyze which configurations lead to firm performance.FindingsThe empirical analysis shows that both HR practices and policies (commitment-based HR systems) and HR capabilities (HR flexibility) need to be aligned for high performance. The path for performance is comprised of a combination of commitment-based HR systems for staff and HR flexibility and by the absence of an innovation strategy or commitment-based HR systems for managers, HR flexibility, and a cost leadership strategy. We also find four paths where performance relies on efficiently combining an innovation and cost leadership business strategy.Originality/valueOur findings make three key contributions to the literature. First, we help elucidate multicausal relationships inside the black box of the “HR–performance” relationship for firm performance. Second, we study the vertical fit with business strategy by considering innovation and cost leadership strategies. Third, we analyze multicausal pathways, thus uncovering different combinations of resources and capabilities for performance.

THE RELATIONSHIP BETWEEN INNOVATION ACTIVITIES AND PROFITABILITY OF BIST MANUFACTURING COMPANIES

This study's purpose is to analyze the connection between innovation activites and profitability of companies trading in the manufacturing industry on the Istanbul Stock Exchange. For this purpose, data from independently audited financial and income statements of 45 manufacturing companies with R&D expenditures during 2008-2021 are analyzed using the panel data. According to the examination's findings, there is an important and advantageous connection between business innovation activities and firm profitability. To conclude, the results of research examining the connection between innovation activity and profitability have both micro and macro implications. On a micro level, the solution assists firms in gaining a competitive advantage by ensuring that existing production systems operate effectively and increasing their share. At the macro level, they improve the welfare of society and help promote long-term economic growth and the accumulation of knowledge, especially the effective and cost-effective utilization of national resources.

LEGAL REGULATION OF INNOVATIVE ACTIVITIES OF SMALL AND MEDIUM-SIZED BUSINESSES IN THE REPUBLIC OF KAZAKHSTAN

In this article, the legal regulation of innovative activity of small and medium-sized enterprises is considered. In the current situation, it is necessary to create a scientifically based theoretical base and a stable mechanism for stimulating innovative processes in the domestic economy, to study it from a legal point of view. High indicators of the development of innovative entrepreneurship are directly related to the degree of integration of small and medium-sized enterprises in the innovative sphere. Foreign experience shows that small and medium-sized entrepreneurs will be more profitable due to the introduction of innovations in their activities. In addition, the legal regulation of innovative activity of our small and medium-sized enterprises has not yet been sufficiently developed, which does not allow the development of the innovative system of the country. In this regard, the most urgent task in the field of law is the development of a legal project of innovative entrepreneurship and the determination of ways of further legal development of innovative entrepreneurship. Our country should create projects that stimulate entrepreneurs to engage in small and medium-sized businesses, provide cheap loans, reduce taxes, allocate subsidies, and attract foreign investors. Having studied the legal regulation of small and medium-sized businesses in the Republic of Kazakhstan, the authors considered the legal status of small and medium-sized business entities engaged in innovative activities, defined the concept and legal essence of "innovative activity", analyzed the legal protection of small and medium-sized innovative businesses in Kazakhstan and foreign countries, determined conditions of interaction with infrastructure support for small and medium-sized businesses. As a result of the research, proposals were made to improve the legislation of Kazakhstan in this area.

‘Let’s play together for entrepreneurship!’ Engaging actors in academic capitalism within the policy discourse on entrepreneurship

Since the early 2000s, the promotion of entrepreneurship in higher education (HE) has become a central aim of educational policy in Europe. We apply a critical discourse approach to examine entrepreneurship HE policy discourse in the framework of academic capitalism. Using Finland as a case example, we investigate how academic capitalism materializes in and through the entrepreneurship discourse in a Nordic HE system and how social actors in higher education institutions (HEIs) are persuaded and engaged in entrepreneurship discourse, and within it, in academic capitalism. We analyze recent guidelines for HEIs produced by the Federation of Finnish Enterprises and university stakeholders. We show how the entrepreneurship policy discourse in HE intertwines with academic capitalism in multiple ways. The whole HEI community across disciplines is harnessed for the creation of an entrepreneurial ecosystem to enhance the innovation, creation, and renewal of businesses in order to create economic value for HEIs and businesses to secure national competitiveness. As business actors participate in generating the policy discourse, they also powerfully contribute to redefining the purpose of HE according to business logics and values. This will strengthen the marketization of a Nordic system that has so far followed social equality as its core principle.

WonderWoods Online Furniture Website

Abstract: This research paper investigates the emerging trend of Furniture websites, examining their impact on the interior design, consumer behavior, and environmental sustainability. The study aims to provide a thorough literature review, propose a conceptual model for Custom Furniture platform, and offer insights into the future of this innovative business model. The objectives of the study include analyzing WonderWoods user interface and navigation on system, assessing the range, quality, and pricing of its furniture products, evaluating ng the effectiveness of its marketing strategies, exploring customer satisfaction on levels and post-purchase experiences, and identifying areas for improvement. The qualitative analysis revealed several key dimensions of UX, including website aesthetics, navigation ease, product presentation, and checkout process efficiency. Keywords: WonderWoods is a Custom furniture making platform that offers a sustainable and stylish way to design your house.

Rental Clothing site (THE BORROW TREND)

Abstract – This research paper investigates the emerging trend of clothing rental websites, examining their impact on the fashion industry, consumer behavior, and environmental sustainability. The study aims to provide a thorough literature review, propose a conceptual model for clothing rental platforms, and offer insights into the future of this innovative business model. The creation of a business model that addresses the need for affordable clothing options, particularly for special occasions like weddings. The project aims to offer a solution for individuals from lower and middle-class backgrounds who find it challenging to purchase expensive attire for events due to high costs and limited utility. By introducing a rental clothing service called “Rent Attire,” the project targets a wide audience, including lower, middle, and upper classes, with a focus on providing various styles of clothing for different occasions. The long-term goal is to become a leader in the rental clothing industry, expanding services to include event organization like weddings. Marketing strategies involve advertising in magazines, social media, and television, along with offering discounts to attract and retain customers. The project emphasizes customer satisfaction, with plans to open stalls in universities and expo centers to reach a broader market. The business model includes physical stores for order placement and rental charges based on the completion of orders. Overall, the project aims to fill a market gap by providing affordable and stylish clothing options for various customer segments, with a focus on convenience and customer service. Keywords – Rental clothing-business model,Fashion business plan, Marketing analysis, Customer need, Managing customers, Search engine optimization (SEO), Custom HTML page templates.

Разработка и апробация методики диагностики способности студентов к инновационной предпринимательской деятельности «СИНПРЕД»

Due to the need to ensure economic growth and improving competitiveness of the Russian economy, the development of youth innovative entrepreneurship is relevant for our country. This requires not only the implementation of appropriate educational programs, but also selection of young people for admission on the basis of an effective assessment of their abilities and readiness to create an innovative business. The goal of the investigation is to design and test psychodiagnostic method that solves the problem of prompt assessment of students’ ability to innovative entrepreneurship. The test SINPRED is elaborated on the basis of the authored by Prokhorova and Belokon model of psychic determinants of effective entrepreneurial activity, connected with innovations. The test contains: instruction, 56 statements, the agreement with which the testee expresses on a seven-rank scale; key of primary data processing; normalized points (stens), worked out for two groups of testees (women and men); manual on processing and interpretation of diagnostics results. For empirical foundation of the methodics indices of students’ behavior, singled out by 5 experts, are used. Verification of discriminatory power, internal consistency, reliability of the test is carried out on the sampling of 180 students. 152 students comprise the sampling for evaluating of methodics validity. For defining the test factor structure and its standardization the results of 308 students questioning are utilized. It is revealed that the created test possesses a high level of discriminatory power and test-retest reliability. All test assignments are correlated with each other. The scales of the methodics have a sufficient level of validity. During the test approbation significant differences between women and men are unveiled on four primary scales: leadership, creativity, nonconformity, early entrepreneurial experience. The acquired differences additionally confirm discriminatory power and criteria validity of the test, and also indicate perspective of scientific investigations, that uncover peculiarities of determination and molding ability to innovative entrepreneurship, conditioned by sex.

Revenue stacking of BESSs in wholesale and aFRR markets with delivery guarantees

Battery Energy Storage Systems (BESSs) provide a crucial solution for mitigating the challenges posed by renewable energy intermittency, concurrently driving down energy costs within wholesale markets. To harness their potential, innovative business models are required for optimal BESS operation and revenue maximisation. This paper addresses this need by proposing a novel revenue stacking approach for the participation in Day-Ahead and automatic Frequency Restoration Reserve (aFRR) markets. By considering the uncertainty in the activation of aFRR events, the proposed model provides real-time delivery guarantees for a given reliability level, while maximising the revenues. The model is built over a novel characterisation of the uncertainty and a tight reformulation of the joint chance-constraints that drive energy and capacity guarantees. The effectiveness of the proposed approach is demonstrated through a case study based on real data from the Belgian market, yielding a 17.3% increase in profits over the individual chance-constraints approach.

A Proposed Measurement Model for Enhancing Strategic Business Transformation Performance

This research was conducted at PT XYZ, an Indonesian digital telecommunications leader, to address declining profits and increasing competition which threaten its mission to provide reliable and innovative business services. The study aimed to develop a strategic measurement model to enhance business transformation performance. A mixed-methods approach was utilized, collecting qualitative data through in-depth interviews with 7 key individuals and focus group discussions with 6 participants, along with quantitative data from surveys involving 100 internal employees and 100 external stakeholders. This comprehensive approach helped identify several key factors affecting transformation success. Key findings included the necessity of a progressdriven approach with regular strategic alignment checkpoints, a significant gap in organizational capabilities due to insufficient training, lack of stakeholder engagement resulting in minimal buy-in, and the absence of clear Key Performance Indicators (KPIs) complicating progress tracking and decision-making. To overcome these challenges, the study proposes optimizing resource allocation via a robust management system, investing in ongoing training programs to enhance organizational capabilities, improving stakeholder engagement through continuous communication, and establishing definitive performance metrics and regular evaluation mechanisms. Implementing these strategies could significantly boost PT XYZ’s financial profits, customer satisfaction, and competitive standing in the telecommunications sector.