Business Results Research Articles

Influence of financial literacy on investment decisions of managers of small and medium enterprises in Mogadishu, Somalia

This research aimed to explore how well managers of small and medium enterprises (SMEs) in Mogadishu, Somalia, understand financial concepts such as savings, managing debt, handling financial risks, and planning for retirement, and how this understanding affects their investment decisions. The background of the study highlights that many SMEs in Mogadishu struggle to sustain their operations, with low profits or failure often due to poor investment choices. To investigate the link between financial literacy and investment decision-making among these managers, the study was based on the principles of modern portfolio theory. The research used a correlational design to analyze data from 250 targeted SMEs, with 154 respondents selected through stratified random sampling. Data collection was facilitated by questionnaires, and the analysis involved calculating means, standard deviations, and conducting regression analysis. The findings indicated that among the financial literacy components, debt management had the most significant impact on investment decisions (β=0.490, p<0.05), followed by financial risk management (β=0.137, p<0.05), and lastly, the ability to save (β=0.128, p<0.05). The study concluded that financial literacy plays a crucial role in influencing investment decisions among SME managers in Mogadishu, suggesting that improving financial knowledge could lead to better business outcomes.

Pendampingan Perancangan Tata Letak Produksi Kue dengan Pendekatan Activity Relationship Chart di Kabupaten Gunung Kidul Yogyakarta

Pendampingan Perancangan Tata Letak Produksi Kue dengan Pendekatan Activity Relationship Chart di Kabupaten Gunung Kidul Yogyakarta

Effect of CSR on Corporate Performance: The Mediating Role of Human Resources Management

The management and marketing literature has increasingly emphasized the significance of corporate social responsibility (CSR) in determining company performance over the past few decades. While there is growing recognition of the potential impact of CSR initiatives on business outcomes, there remains a lack of consensus on the specific mechanisms through which CSR influences performance. This ambiguity underscores the need for further research to elucidate the relationship between CSR and business performance. Our research seeks to address this gap by examining the role of CSR-based human resource management as a potential mediating factor in this relationship. This focus is particularly pertinent given the pivotal role that employees, as key stakeholders, play in shaping organizational outcomes. By analyzing data from a sample of small and medium-sized manufacturing companies using partial least squares structural equation modelling (PLS-SEM), we found evidence supporting the hypothesis that CSR initiatives can positively impact business performance. Importantly, our findings suggest that the effectiveness of a company's CSR strategy in enhancing performance may be contingent upon the extent to which these initiatives are geared towards improving human resource management efficiency. In conclusion, current study contributes to the evolving understanding of the complex interplay between CSR and business performance, highlighting the critical role of human resource management practices in mediating this relationship.

Predictor Variables Affecting Coffee Shop Performance in Tangerang

<p><em>The objective of this study is to ascertain the impact of market orientation, technological orientation, and entrepreneurial orientation on the success of coffee shop enterprises. This study employs a quantitative methodology, utilizing a sample size of 135 coffee shop owners in Tangerang. The sample approach employed was purposive sampling. Analysed data was processed with the SmartPLS 4.0 analysis tool. The findings of the hypothesis testing demonstrate that market orientation has a significant impact on business performance. Market orientation promotes a shift in entrepreneurs' mindset, encouraging them to adopt the consumer's point of view. This enables entrepreneurs to gain insights into consumer demands by studying information gathered from consumers and the market on products that are favored by consumers. This notion will enhance the reception of items among consumers, leading to beneficial outcomes for the corporation in terms of improved business performance. Entrepreneurial orientation is another factor that has a major impact on business performance, and it can potentially account for similar findings. Entrepreneurial orientation fosters a mindset among business individuals that promotes the implementation of daring and aggressive business tactics, as well as innovation. This mindset enhances the business owner's confidence in achieving their goals and ultimately leads to improved business performance. Business professionals can implement market orientation and entrepreneurial orientation, both of which have demonstrated their effectiveness. Enhance operational efficiency and optimize business outcomes. Entrepreneurs participate in specialized training programs to enhance the sophistication and competitive edge of their coffee shop business units. Further investigation might be carried out in alternative industries outside from the coffee shop industry to obtain a wider range of outcomes.</em></p>

Integrating behavioral science into operational risk management: A new paradigm for the FMCG sector

This paper explores the rationale for integrating behavioral science into ORM within the FMCG sector, examines key behavioral principles relevant to risk management, and proposes practical frameworks for implementation. By adopting this new paradigm, FMCG companies can enhance their resilience, adaptability, and overall performance in an increasingly complex and dynamic business environment. Operational risk management (ORM) is paramount for ensuring the stability and success of businesses, particularly in fast-moving consumer goods (FMCG) sectors where operational disruptions can lead to significant repercussions. However, traditional ORM approaches often overlook the human element, focusing solely on systems, processes, and external factors. This paper advocates for the integration of behavioral science into ORM, recognizing the pivotal role of human behavior in shaping operational risks and offering strategies to effectively mitigate these risks. The rationale for integrating behavioral science into ORM within the FMCG sector is explored, emphasizing the need to understand and influence human behavior to enhance resilience and adaptability. Key behavioral principles relevant to risk management are examined, including decision-making biases, social dynamics, and cognitive heuristics. These insights provide a foundation for developing practical frameworks for implementation, encompassing areas such as demand forecasting, compliance, and employee engagement. By adopting this new paradigm, FMCG companies can enhance their resilience, adaptability, and overall performance in an increasingly complex and dynamic business environment. Integrating behavioral science into ORM enables companies to anticipate and address human factors that contribute to operational risks, leading to more effective risk management strategies and improved business outcomes .In conclusion, the integration of behavioral science into ORM represents a paradigm shift that recognizes the importance of understanding and influencing human behavior in mitigating operational risks. By incorporating behavioral insights into their risk management practices, FMCG companies can better navigate challenges, capitalize on opportunities, and ultimately, achieve sustained success in today's competitive marketplace.

Data analytics in energy corporations: Conceptual framework for strategic business outcomes

Data analytics has emerged as a pivotal tool for energy corporations to navigate the complexities of the modern market landscape, optimize operations, and drive strategic decision-making. This abstract presents a conceptual framework delineating the role of data analytics in fostering strategic business outcomes within energy corporations. At its core, the framework emphasizes the integration of advanced data analytics methodologies with the unique operational dynamics of the energy sector. It begins by delineating the data sources available to energy corporations, ranging from sensor data in oil and gas exploration to customer consumption patterns in utilities. These diverse data streams form the foundation upon which analytics-driven insights are built. Central to the framework is the notion of actionable intelligence derived from data analytics. By harnessing advanced analytics techniques such as machine learning, predictive modeling, and optimization algorithms, energy corporations can extract meaningful insights from vast and disparate datasets. These insights facilitate informed decision-making across various business functions, including asset management, supply chain optimization, demand forecasting, and risk mitigation. Furthermore, the framework underscores the importance of leveraging real-time data analytics capabilities to enhance operational agility and responsiveness. In a rapidly evolving energy landscape characterized by fluctuating market dynamics and regulatory changes, the ability to extract actionable insights in real-time confers a competitive advantage. Moreover, the framework advocates for a holistic approach to data analytics integration, encompassing not only technological infrastructure but also organizational culture and capabilities. Effective implementation of data analytics initiatives necessitates alignment with strategic objectives, executive sponsorship, and the cultivation of a data-driven mindset throughout the organization. Ultimately, the conceptual framework presented herein serves as a roadmap for energy corporations seeking to harness the transformative potential of data analytics to drive strategic business outcomes. By embracing data-driven decision-making, these organizations can enhance operational efficiency, optimize resource allocation, mitigate risks, and capitalize on emerging market opportunities in an increasingly data-centric environment.

Integrating Azure Services for Real Time Data Analytics and Big Data Processing

Integrating Azure services for real-time data analytics and big data processing is a transformative approach that leverages the power of cloud computing to handle vast amounts of data at scale. Azure offers a wide array of services such as Azure Synapse Analytics, Azure Data Lake, Azure Stream Analytics, and Azure Databricks, which together enable businesses to extract valuable insights from both structured and unstructured data in real time. These services provide seamless integration, allowing for real-time data ingestion, transformation, and analysis, facilitating quicker decision-making processes. Azure’s capabilities in big data processing allow for scalable and efficient storage of data, ensuring optimal performance even as data volumes grow. By utilizing tools like Azure Data Factory and Azure HDInsight, organizations can automate complex workflows and apply machine learning algorithms for predictive analytics, driving innovation and competitive advantage. The integration of Azure's real-time analytics services also supports the use of advanced technologies like artificial intelligence (AI) and Internet of Things (IoT), enabling companies to monitor live streams of data from various devices and platforms. This infrastructure not only enhances operational efficiency but also ensures a more proactive approach to problem-solving by identifying trends and anomalies as they occur. In conclusion, Azure’s comprehensive suite of services offers a robust platform for managing and analysing big data in real time, empowering organizations to leverage data for better decision-making and improved business outcomes.

Impact of Data Analytics Capabilities on CRM Systems’ Effectiveness and Business Profitability

In the current digital era, understanding the role of Data Analytics Capabilities (DAC) in Customer Relationship Management (CRM) systems is essential for businesses seeking better decision-making. While DAC is acknowledged as a Critical Success Factor (CSF) for CRM systems, there is a gap in empirical evidence quantifying its effect on business profitability. This study aims to (1) present the conceptual foundation of the impact of DAC for CRM systems on marketing decisions and business profitability, and (2) empirically estimate the impact of integrating DAC on marketing performance and business profitability. Focusing on the retail sector, the study gathered 131 questionnaires from employees involved in CRM and DAC in Lebanon, and used the SPSS tool for data analysis. The research findings provide advanced empirical evidence of the importance of DAC as a CSF for CRM systems, alongside people, process, and technology dimensions. Results show that the integration of DAC represents a significant step forward in enhancing the effectiveness of CRM systems and achieving better business profitability. This study challenges the conventional understanding of technology's role in improving business outcomes, thus providing valuable theoretical and practical implications for organizations aiming to enhance their CRM systems.

Sustainable Business Practices: Integrating Environmental and Social Responsibility into Management Strategies

"Sustainable Business Practices: Integrating Environmental and Social Responsibility into Management Strategies" delves into the imperative shift toward sustainable practices within contemporary business management. The article explores the integration of environmental and social responsibility into organizational strategies, highlighting the evolving role of businesses in addressing environmental challenges and contributing positively to society. The background of the research underscores the growing recognition of the impact of business activities on the environment and society. This awareness has led to an increased emphasis on sustainable business practices as a means to balance economic goals with environmental and social concerns. The research gap lies in the need for a comprehensive understanding of how organizations effectively integrate sustainability into their management strategies. The urgency of this research is grounded in the critical need for businesses to adopt responsible practices that go beyond profit maximization. The article reviews previous studies to identify successful cases of sustainable business models, examining the challenges faced by organizations and the innovative approaches they adopt to embed sustainability into their core operations. The novelty of the article lies in its in-depth analysis of sustainable business practices, exploring the strategies employed by organizations to address environmental concerns, ensure social responsibility, and maintain economic viability. It discusses the role of leadership, stakeholder engagement, and the implementation of green technologies in achieving sustainable business outcomes. The objective of the research is to provide valuable insights for businesses, policymakers, and academics interested in promoting sustainable practices. The study aims to contribute to the development of practical frameworks for integrating environmental and social responsibility into business strategies, fostering a sustainable and ethical business landscape. Overall, the article seeks to inspire positive change within the business sector and contribute to a more sustainable and responsible global economy.

Empowerment at the Crossroads: Opportunity as a Mediator in the Nexus Between Micro Financial Services and Women's Economic Wellbeing, Moderated by Vulnerability

Women’s empowerment is globally recognized, with economic empowerment being a key aspect—enabling decision-making, income growth, and asset ownership. This study investigates the mediating role of opportunity and microfinance elements, along with social capital, in enhancing women’s economic empowerment. Data was collected from 205 female clients across three microfinance banks in Pakistan using closed-ended questionnaires. Employing Partial Least Squares-Structural Equation Modeling (PLS-SEM), the study reveals strong positive correlations between women entrepreneurs’ sales performance and their ability to secure loans, acquire new skills, and establish networks. Social capital plays a pivotal role in boosting business outcomes. The relationship between loan availability, savings, skill development, social capital, and bonding is mediated by opportunities for business improvement. Vulnerability moderates the relationship between opportunity and women entrepreneurs’ sales success, allowing for business expansion. Microfinance components positively impact women’s economic empowerment.

Digitalisation, Growth Vision and Gender Equality Practices in the Machines and Equipment Sector – Does Gender Matter?

This paper explores the nuanced relationship between gender diversity in senior management and key aspects of organizational dynamics in the machines and equipment sector in the Republic of Serbia. The aim is to uncover differences in digitalization, growth strategies and gender equality measures between companies led by women and men. Employing field research methods, specifically utilizing Computer Assisted Telephone Interviewing, the results show that companies led by women have a higher propensity to adopt information and communication technologies, a more optimistic view of their future development over the next five years, greater gender diversity among employees and more robust implementation of gender equality policies compared to companies led exclusively by men. The research findings highlight the significant impact of gender diversity in leadership on business outcomes and show that women-led companies are proactively embracing digitalization, promoting growth optimism and implementing gender equality initiatives. These findings offer valuable insights for business leaders, policymakers and researchers working on initiatives to promote diversity, equality, and technological progress.

Innovations in the repayment structure of microcredit contracts

Abstract Microfinance contracts typically require a fixed repayment schedule that, while ensuring repayment discipline, may inhibit entrepreneurship and business growth. In this article, I review the recent developments in the literature studying innovations in the repayment structure of microcredit contracts. Introducing flexible repayment schedules improves business outcomes by allowing microcredit borrowers to increase investment and to respond to income fluctuations to a higher extent. Although financial innovations hold the promise to foster business growth, and evidence suggests that their demand appears concentrated among financially sophisticated borrowers, they are feared to increase credit risk and hence their adoption among microfinance institutions is very limited. I explore potential challenges lenders face in offering these innovations and outline pathways towards a profitable implementation of such contracts.

Role of Public Relations in Profit and Non- Profit Organisation in Delta State

This paper examined the role of public relations in both profit and non-profit organizations in Delta State. In executing this paper descriptive survey design was used in this investigation. The study population is eight hundred and sixteen (816) public relations officers from some selected profit organization and two hundred and eight-five (285) public relations officers from some selected non-profit organization, which make it a total of one thousand, one hundred and one (1101) public relation officers from profit and non-profit organizations in Delta State. The technique used for this study is a simple random sampling technique. The sample size for the study was one hundred and eleven (111) public relations officers. The questionnaire was used as the instrument for collecting data. The statistics used for this study were mean (x ̅). Findings showed that public relations is crucial in profit and non-profit organizations. Findings also show that strategic communication is required for promoting profit and non-profit organizations. Findings show that some challenges facing public relations strategies that drive business outcomes include difficulty building and maintaining relationships with key stakeholders, limited understanding of public relations among stakeholders, difficulty in measuring the effectiveness of PR efforts and limited access to government information and resources. Based on findings, this paper recommended that public relations officers attend workshops, webinars, and conferences to stay informed about the latest public relations and communications developments. Organizations should provide training and resources for public relations professionals to enhance their skills and stay current with industry developments.

Unveiling the interplay of psychological capital, family business, and gender on firm performance during COVID-19

This study examines the complex relationships between Psychological Capital, family business, ownership, gender, and firm performance during the COVID-19 pandemic. The study examines the effects of these variables on firm performance and explores the empirical interaction effects. The findings reveal that Psychological Capital positively influences firm performance, supporting the hypothesis that owners with higher Psychological Capital contribute to better business outcomes. Additionally, family business and ownership significantly impact firm performance, indicating that family involvement and concentrated ownership drive organizational success. Surprisingly, the results indicate a negative impact of gender on firm performance, suggesting that firms managed by women are perceived as less successful. The study also explores the interaction effects and finds that the positive relationship between Psychological Capital and firm performance is amplified in family businesses. However, gender does not moderate this relationship, indicating that women Owners face challenges in translating their Psychological Capital into firm performance in the emerging economy of Ecuador. The results provide insights into the complex dynamics within family businesses and underline the need to address gender disparities and promote inclusive Ownership practices. Implications are discussed.

Total Quality Management Practices and Performance of East African Breweries Limited, Kenya

Total quality management (TQM) is a continuous process that seeks to point out and eradicate managerial gaps in organizations. It also aligns organizational management, enhances good customer service and empowers the training of employees. TQM uses strategies, data and communication channels to bring together the required quality principles into the organization’s activities and culture. This study examined the relationship between Total Quality Management practices and organizational performance at East African Breweries Limited (EABL) Kenya. The study sought to establish the effect of customer focus on the performance of EABL in Kenya. The research examined the effect of continuous quality improvement on the performance of EABL in Kenya. The study also assessed the effect of strategic approaches on the performance of EABL in Kenya. Contigency thory,Service quality theory, Sigma six quality improvement theoryand system theory of management were reviewed concerning the four variables involved in this study to analyze the gaps that lead to further research. The population target was 60 EABL managers in the departments directly related to TQM practices. Since the population was moderate, there was no sampling. Instead, census method was used and therefore the entire population was included in this study. The study used an explanatory research design where questionnaires were used as a data collection instrument. Descriptive statistics was used to analyze data in tables and charts according to the research objectives. Quantitative statistic processes were also used to derive correlation and regression analysis to establish the extent and nature of the relationship between the independent variables and dependent variables. Construct validity showed a description of whether support is given by case studies concerning the interpretation of variables in the study. The findings of the study indicated a positive significance by benefiting East Africa Breweries Limited in understanding to what extent the total quality management practices impact the performance of the company. The findings demonstrate that East African Breweries Limited (EABL) exhibits a strong commitment to Total Quality Management practices and a customer-centric approach to quality, resulting in enhanced effectiveness, customer retention, and market advantage. EABL's focus on customer satisfaction, loyalty, and market performance highlights the strategic significance of TQM in the company's success and competitiveness. The study concludes that implementing TQM practices can lead to improved business outcomes, emphasizing the importance of effective TQM in achieving better organizational results and market success.

Big data analytics capability, marketing agility, and firm performance: a conceptual framework

ABSTRACT This study proposes that the proficient use of big data enables organizations to respond swiftly to market opportunities and threats, leading to positive business outcomes. Drawing on research from marketing, information technology, and management, the study builds a conceptual framework that outlines the relationships between big data analytics capability, marketing agility, and firm performance and pinpoints the contingencies that shape these relationships. While highlighting the importance of agility in harnessing big data for a firm’s success, the study offers avenues for further research and valuable insights for managers looking to invest in big data.

An attachment theory perspective of professional service providers' social bonds with their clients

Social bonds developed by professional service providers have received limited research attention. Yet how individuals in these roles build social bonds with their clients can have a significant impact on the business outcomes achieved by the professional services firm. Attachment theory is one of the most influential psychology theories which supports the development of affectionate bonds but has not, so far, been applied to professional service providers' social bonds with their clients. We conduct in-depth interviews with professional service providers to capture their experiences of developing social bonds. Our findings identify three distinct relationship roles adopted by professional service providers with their clients (manager, caregiver and partner) and uncover two social bonds: the closeness bond and the security bond, based on different characteristics. We find that relationship roles and social bonds are inter-related and that social bonds can develop authentically or be developed strategically by the professional services provider. We propose how professional services firms can benefit from this knowledge in improving their business outcomes.

Transformation of SMEs: Strengthening Entrepreneurship and Product Innovation as Key Drivers of Business Evolution

The important role of Small and Medium Enterprises (SMEs) in driving economic growth requires a deep understanding of the factors that influence their performance. The number of samples in this study was 175 respondents, processed using the Structural Equation Modeling (SEM) method through the AMOS (Analysis of Moment Structure) program. This research explores the dynamics of entrepreneurial competence and product innovation as the main determinants of SME success. In the context of SMEs that have survived for two years in Gowa Regency, South Sulawesi, this research reveals that increasing entrepreneurial competence has a positive impact on business performance. Simultaneously, effective product innovation is proven to make a significant contribution to superior business outcomes. This study also highlights the mediating role of the market environment, demonstrating its influence on the relationship between entrepreneurial competence, product innovation, and business performance. These findings provide valuable insights for policy makers, educators and business actors who aim to increase the competitiveness and adaptability of SMEs amidst rapid business change.

Application of Entrepreneurship Orientation and Practices among Business Operators in University Campuses in Rivers State, Nigeria

This study examined the extent small-scale business operators on Rivers State University Campuses are able to imbibe and apply entrepreneurial practises and orientation. Two research questions and hypotheses guided the study. The study adopted a descriptive survey design. The population comprised 1,000 university campus business operators in the three public universities in Rivers State. Taro Yamane’s formula was used to select 286 small scale business operators as the sample for the study. A validated 9-item self-designed questionnaire titled "Entrepreneurship Orientation and Practises among Small Scale Business Operators in Universities Questionnaire (EOPSSBOUQ)" was used as the instrument for data collection. The reliability of the instrument was determined through a test-retest method. Mean and z-test statistics were used to answer the research questions and test the hypotheses at a 0.05 confidence level. The findings of the study revealed, among others, that people’s business commitment is very high, and in business practise, small scale business operators take personal responsibility for business outcomes. It was recommended, among others, that entrepreneurs develop more achievement motivation in order to discover more areas for new ventures as well as improve business performance.

Is webcare good for business? A study of the effect of managerial response strategies to online reviews on hotel bookings

PurposeEngaging in webcare, i.e. responding to online reviews, can positively affect consumer attitudes, intentions and behavior. Research is often scarce or inconsistent regarding the effects of specific webcare strategies on business performance. Therefore, this study tests whether and how several webcare strategies affect hotel bookings.Design/methodology/approachWe apply machine learning classifiers to secondary data (webcare messages) to classify webcare variables to be included in a regression analysis looking at the effect of these strategies on hotel bookings while controlling for possible confounds such as seasonality and hotel-specific effects.FindingsThe strategies that have a positive effect on bookings are directing reviewers to a private channel, being defensive, offering compensation and having managers sign the response. Webcare strategies to be avoided are apologies, merely asking for more information, inviting customers for another visit and adding informal non-verbal cues. Strategies that do not appear to affect future bookings are expressing gratitude, personalizing and having staff members (rather than managers) sign webcare.Practical implicationsThese findings help managers optimize their webcare strategy for better business results and develop automated webcare.Originality/valueWe look into several commonly used and studied webcare strategies that affect actual business outcomes, being that most previous research studies are experimental or look into a very limited set of strategies.