Business Perspective Research Articles

Internal and External Processes Improvement, a New Dimension of Balance Scorecard and Its Impact on Organizational Performance

Abstract When talking about performance, financial aspects come first. Besides that, when organizational performance is the main subject, redesign of the processes, inputs and outputs analysis are various aspects taken into consideration. Financial indicators such as return of investment and earnings per share are no longer enough. Nowadays, process measurement, change management initiatives, risk analysis, stakeholder engagement, innovative financial measures, people learning and development, organizational culture orientation toward global trends, as well as KPI’s commitment are dimensions and future perspectives of the new approach of organizational success. This research will present the way an instrument as Balance Scorecard can secure competitive advantage and improve organizational performance by linking strategic goals, operational performance indicators and stakeholder’s enlarged participation. The research methodology questioned the perception related to balance scorecard main directions within companies belonging on the automotive and manufacturing industry. The four dimensions of Original Balance Scorecard model – financial perspective, customer perspective, internal business perspective and innovation and learning perspective – applied at all levels within the organization generate better measurable results, with a positive impact on people engagement and responsibility. The new proposed dimension, stakeholders’ participation gives substance on organization’s way of defining its purpose on the societal market that it belongs to.

A historical comparison exactly one hundred years apart. The global financial crises of 1907 and 2007 and the FIAT case study

Introduction: The paper analyses the case study of the FIAT automotive company in two global financial crises which broke out exactly 100 years apart: the crisis of 1907 known as the "Banking Panic" and the crisis of 2007, and its burst in 2008, known as the "Great Recession". Aim of the work: The paper aims to analyze company strategies in financial crises, by adopting a business perspective, in order to capture similarities and differ-ences; contributions to support companies in the transformation of organizational, managerial and operation processes during changing environmental conditions are provided. Methodological approach: The research follows an interpretive and qualitative ap-proach. Starting from the theoretical background of the two financial crises, the study identified the company FIAT as a "single business case study". FIAT's financial statements and corporate documents for the periods 1907-1913 and 2007-2013 are critically assessed. Main findings: Case study findings highlight the successfully implemented strate-gies and the paths of growth pursued by the Company to survive and restart. In this sense, the case study analysis supports the identification of some elements and actions able to guide companies through periods of environmental and business crisis. Moreover, the study of the FIAT historical corporate documents permits to observe the evolution – about the structure and the content – of corporate disclo-sure over time. Originality: There is a lack of studies that analyze and compare the two crises. The comparison between the two financial crises by adopting a business perspective is novel. The historical comparison together with the analysis of the evolution of the FIAT's corporate disclosure over time, provides relevant scientific insights, poten-tially able to favour an advancement of knowledge to help companies in the trans-formation and adaptation processes to changing environmental conditions.

Nudging food waste off the plate? An explorative study investigating the generation of plate waste over time and the effectiveness of information nudges to bridge the attitude-behavior gap

ABSTRACT Changing consumer behavior is key to tackle the global food waste challenge. While nudging consumers to reduce food waste has shown promising results in promoting behavioral change, its application within the expansive hospitality sector remains limited. Particularly, its capacity to bridge the attitude-behavior gap and the effectiveness of nudging interventions over time remain nearly unexplored. To address this gap, we conducted an exploratory field experiment implementing simple information nudges at a 3-star hotel breakfast buffet combined with a survey. Findings reveal that guests were indeed conscious of food waste, but it was the implementation of information nudges that led to more sustainable behavior, evidenced by a reduction in food waste. This demonstrates that a simple “nudge,” such as the message at the buffet, can effectively translate positive attitudes into tangible behavioral changes. While we noticed a decreasing trend in food waste throughout the one-week holiday, the efficacy of the nudge remained consistent over time, although on a lower level. This enduring effectiveness is promising, addressing a common concern with nudging, which is the potential for short-term effects that fade quickly after exposure to the choice environment. Future studies should investigate whether the effectiveness persists after the removal of the nudge, or if a permanent intervention in the choice architecture is necessary for a more sustained impact. From a business perspective, the current task at hand involves raising companies’ awareness regarding the matter of food waste and highlighting the easy and cost-effective solutions offered by nudging strategies.

The Influence of Cultural Difference Cognition on the Entrepreneurship Process of International Students in China

This study focuses on the entrepreneurial activities of Chinese students studying abroad, and explores in depth the impact of cultural differences on the entrepreneurial process of international students. Through literature review and theoretical analysis, a theoretical model was constructed to investigate the impact of cultural differences among international students on the entrepreneurial process. This reveals the significant impact of cultural differences on the entrepreneurial process of international students, providing useful insights for them to overcome cultural differences and smoothly carry out entrepreneurial activities. International students can enhance their awareness of cultural differences, explore unique business perspectives and innovative inspirations in the market, and utilize economic and social differences to seek opportunities for cross-border entrepreneurship. At the same time, universities and all sectors of society should also pay attention to entrepreneurship education for international students, provide necessary support and guidance, and promote the healthy development of entrepreneurial activities for international students.

Characterization of the Innovation Management of the Hotel Portoviejo

Purpose: The purpose of the research is aimed at characterizing the innovative behavior of a city hotel in Portoviejo based on the low level of technological innovation. Theoretical Framework: Innovation transcends all organizations, the traditional interpretation of the concept related to patents and inventions has gone down in history. Today in the business world of high competitiveness and high uncertainty the maxim is: innovate or perish. What this work proposes is related to the management of innovation, but not in manufacturing, but in services, where the technological level also increases dramatically, and high qualifications and careful customer service are required. The applied model is based on the functions of Technology and Innovation Management (GTI), these are: technology inventory, technology enrichment, technology optimization, technological evaluation, and technology protection. Method: The research is qualitative and quantitative with an exploratory and descriptive study with a non-experimental design and the Technology and Innovation management model is supported by the MINGI SOFWARE, which is based on the functions of the GTI and presents tools that characterize and evaluate the process. innovative. In this study, the analysis of business perspectives, the determination of the business model (Traditional or innovative), and the innovative culture of the Hotel are determined as innovative tools. Results and Conclusion: As a result, an innovative characterization of the accommodation, restoration and recreation processes is obtained; concluding that the hotel follows traditional management practices, its business perspective is aimed at sales and not the market and its innovative culture is low, hence to achieve a sustainable service process it must establish an action plan that allows the breaking of the gaps to reach a higher stage with good innovation management practices. Implications of the Research: The main contribution is in the application of the GTI characterizing tools in Ecuador and the projection necessary to increase the innovative intensity in the hotel activity. Originality/Value: The work presents originality, since the model has not been applied in South America and can contribute to good socio-environmental management practices in the hotel business.

Successful camping operators: Performance measurement using cluster analysis and DEA methods.

Amidst the dynamic transformations in the camping industry, research on efficiency and performance remains surprisingly scarce. This research aims to evaluate the efficiency of campsites in France, to determine the best managerial practices from the perspective of different business models.A deductive approach is adopted to explore performance measurement based on a convenience sample of 52 campsites located in France. A Data Envelopment Analysis (DEA) is combined with a Cluster Analysis (CA) to explore the organizational performance of each business model cluster.The paper offers an organized structure to measure campsite business model efficiency, identify benchmarks, obtain KPIs per cluster, policymaker recommendations, and counter-intuitive findings for state-owned campsites. Focusing on continuous improvement, campsites with superior relative efficiency serve as benchmarks for others, offering best practices that can be adopted to increase effectiveness.Findings show considerable variability in terms of performance scores, with campsites proposing fewer attractive resources experiencing major inefficiencies and profitability problems. In contrast, nature-oriented luxury (glamping) campsites with few intrinsic attractive and efficient resources manage to achieve an average EBITDA of around 31%. Furthermore, the results provide valuable information for political decision-makers concerning the support and public financial assistance required for the favorable development of campsites located in unattractive territories. For this industry, it is crucial to support business models that make a significant contribution to tourism attractiveness and economic sustainability. An encouraging perspective for the recovery and safeguarding of the thousand campsites closed in France this last decade.

Socioeconomic Impact of A2 Milk Production in Colombia and Its Projection in The International Market

This study focuses on investigating the socioeconomic impact of A2 milk production in Colombia and its projection on an international scale, with a focus on international business. The main objective is to conduct a comprehensive analysis of the state of the art related to the commercialization of A2 milk in the Colombian dairy sector, exploring its implementation at a global level, consumption trends, sustainability, and target audience, to consolidate current knowledge in this area. The methodology is based on the collection of various sources of knowledge, covering studies from 2010 to 2023, relevant documents, bibliographic references, business magazines, and previous studies on the adoption of the production of this alternative in different countries, using specialized databases. Specific keywords linked to A2 milk, dairy marketing, consumption trends, and the national and international dairy market are used, facilitating the collection of references and the corresponding analysis through an inductive method. The content addresses crucial issues such as diversification of milk production, innovation in dairy products, and consumption alternatives for a wider population, as well as opportunities and challenges present in Colombian dairy production. In essence, this work seeks to provide a detailed analysis of the commercialization of A2 milk internationally and in Colombia, identifying significant patterns that can contribute to its implementation in the Colombian market and facilitate its expansion globally in the context of international business. In conclusion, the comprehensive research addresses the socioeconomic impact of A2 milk production in Colombia and its international projection from an international business perspective. The comprehensive literature review and data collection have provided a complete picture of the consumption trends, sustainability, and target audience associated with the commercialization of this dairy alternative.

The impact of Artificial Intelligence on E-commerce supply chain sector in achieving cost efficiency and economic growth: A business and economics perspective

The study aims to find how much cost effectiveness is achieved when e-commerce supply chain operations use automation and AI technologies. therefore,ing technology of AI and its models have essentially proved to be impactful in making data driven decisions by the organisations gaining leverage in productivity and profit sustainability in a way that the companies achieve competitive advantage therefore creating sustainable value propositions from business and economics perspective. Aim/Purpose The aim of the paper is to explore the positive relationship between AI technologies and productivity levels in the e-commerce supply chain sector through achieving cost effectiveness and economic growth. Methodology/Approach The study focussed on reviewing literature on how Artificial Intelligence driven technology can optimise various supply chain functions within e-commerce sector. Solow-Swan growth model has been applied to investigate the value AI creates in utilising capital, labour input to achieve output growth. Positivist approach that allowed for objective observation and independent conclusions has been adopted. For primary data, quantitative methodology is used through survey questionnaires to gather data from a sample of 206 employees, managers, data analysts in e-commerce supply chain sectors. Findings The findings from the secondary sources inform that the use of AI and automation in the e-commerce industry leads to a high rate of productivity in terms of reducing costs and promoting economic growth. The primary research methods, through survey questionnaires collects real-time data that helps achieve quantifiable and measurable values to conclude that AI-led technology can increase productivity and competitive advantage as it saves cost while increasing productivity and overall economic input. Descriptive statistics of measures of central tendency were used to present findings in simpler, presentable way followed by interpretations of the data in percentages. Practical implications Managers and decision-making directorial board members have important lessons to learn from these findings as the quantifiable values may give them an insight into how much capital investment should be allocated for AI technologies and how predictive analytics and data analysis can accelerate their service towards becoming customer centric. Significant strategic planning and implementation of resource management can lead to higher rates of productivity profitability and eventually higher economic growth.

The Influence of Family Environmental and Entrepreneurship Education on Interest in Entrepreneurship with Self Efficacy as a Mediation Variable in Sharia Business Perspective (Study on Students of the Faculty of Economics and Islamic Business UIN Raden In

The research investigates the influence of family environment and entrepreneurship education on interest in entrepreneurship with self-efficacy as a mediating variable from a Sharia business perspective. This research uses a quantitative approach with a sample size of 129 respondents. The research results show that all independent variables have a significant effect on interest in entrepreneurship. The self-efficacy variable can mediate the influence of business capital on interest in entrepreneurship among FEBI UIN Raden Intan Lampung students and entrepreneurship education on interest in entrepreneurship among FEBI UIN Raden Intan Lampung students. It can be concluded that the application of business capital, entrepreneurship education, Self-efficacy, and interest in entrepreneurship from a Sharia business perspective is very good. Keywords: Business Capital, Entrepreneurship Education, Self-Efficacy, Interest in Entrepreneurship.

Value Sets of Business-owning Families: An Indigenous African Perspective

ABSTRACT While the literature highlights the important role played by family values in family businesses, knowledge on the nature of these values is limited or close to non-existent from certain perspectives, notably an indigenous African family business perspective. Therefore, utilizing seven indigenous Black South African family businesses as case studies, our study seeks to identify the family value sets in the business-owning families using a qualitative design. The findings show that these families uphold and teach the next-generation (NextGen) four family value sets, namely moral and ethical, economic, spiritual and religious, and cultural values. The NextGen is expected to use these value sets as they navigate their lives in and outside the family. Our study contributes to theory by identifying, developing and providing detailed insights into the nature of family values from an indigenous Black South African business-owning family perspective, and our value classification framework potentially provides other researchers with a theoretical foundation to conduct further research. Business-owning families should uphold value sets that accommodate the needs of individual family members, entire business-owning families, and their respective cultures. We also believe that non-indigenous businesses need to understand the family value sets upheld by indigenous Black African businesses to engage with them appropriately and improve business relationships.

Pengaruh Direct Marketing terhadap Keputusan Pembelian pada Live Streaming Tiktok dengan Kepercayaan sebagai Variabel Moderasi dalam Perspektif Bisnis Islam

The development of the times is constantly changing, marked by the existence of various applications that have online promotion and sales features. competition in online sales is getting tighter, making online business people look for the right strategy to market their products, such as in the TikTok strategy application so that consumers are easy to make a purchasing decision, namely with its latest feature, namely live streaming, which can be seen from direct marketing and trust. The purpose of this study was to determine the effect of direct marketing on purchasing decisions with trust as a moderating variable in an Islamic business perspective. This research uses quantitative methods. Data collection techniques in literature review, questionnaires and Likert scales. The population used in this study is generation z in Bandar Lampung City. Sampling in this study using purposive sampling technique. The number of samples used, determined by the formula according to Widianto, amounted to 97 respondents. The data analysis method uses Partial Last Scructural Equation Modeling (PLS-SEM) and data processing using smartPLS software. The results of this study indicate that there is a positive and significant influence between direct marketing on purchasing decisions. And trust does not moderate the relationship between direct marketing and purchasing decisions. In the perspective of Islamic business direct marketing on purchasing decisions on live streaming tiktok has implemented the principles of Islamic business ethics, including unity, balance, free will, responsibility, and benevolence so that it is something that Muslim business people need to pay attention to.

Analysis of the Influence of Digital Marketing Strategies in Increasing the Accessibility and Attractiveness of Online Education Programmes: A Business and Information Technology Perspective

The digital age has significantly changed the education paradigm. Online education is becoming increasingly popular as an effective and flexible alternative for individuals who want to improve their skills without being bound by geographical and time constraints. However, the success of online education relies heavily on effective digital marketing strategies to increase its accessibility and appeal. The main objective of this study is to analyse the impact and effectiveness of digital marketing strategies in increasing the accessibility and attractiveness of online education programs, focusing on business and information technology perspectives. The research method used in this study is a literature review with a qualitative approach and descriptive analysis. In this context, the literature review will be conducted with a focus on collecting, reviewing and analysing relevant literature from 1981 to 2024. The study results show that digital marketing strategies have a very important role in increasing the accessibility and attractiveness of online education programmes. In particular, the integration between business aspects and information technology is the key to success in optimising marketing performance and achieving business goals of online education institutions.

Impact of Customer Relationship Management Dimensions on Customer Retention through Customer Satisfaction: A Customer Perspective of Balkan Transition Economies

One of the main challenges of service providers is the retaining of the acquired customers. Customer Relationship Management (CRM) has proved to be an effective tool in reaching this objective. Many researchers tested the effect of CRM on customer retention (CR), but most of the studies were focused on developed economies and were analyzed from a business perspective. The literature review highlights the lack of studies that examine the impact of CRM on CR from a customer perspective and that are focused on transition economies, especially in Balkan developing countries. Considering this, our paper aims to develop a model that proves the impact of CRM on CR, focused on three Balkan countries (Kosovo, Albania, and North Macedonia). Data was collected using an electronic questionnaire from a sample that consists of 764 residents of the three above-mentioned Balkan countries, all customers of the services sector. The research model shows the impact of three CRM dimensions (key customer focus - KCF, technology-based CRM - TCRM, and CRM knowledge management – KM) on customer retention through customer satisfaction (CS). The model fit and research hypotheses were tested using Confirmatory Factor Analysis and Structural Equation Model. Findings show a positive impact of KCF, TCRM, and KM on CS, which as a result positively affects CR as well. Theoretical and practical implications are discussed.

Green technological licensing strategies with fixed-fee among rival firms under emissions trading scheme

This paper considers no-licensing, unilateral licensing, and cross-licensing strategies among rival firms with different green technologies under emissions trading scheme. We mainly focus on the impact of green technological licensing strategies on firms’ operational management from a business perspective by considering different carbon quota allocations. It is shown that the green technological licensing strategy is always a preferred strategy in globally optimal sense when the technological gap and emission improvement are lower than some thresholds; if firms’ bargaining powers are within a certain range, the green technological licensing strategies can realize a Pareto improvement; the equilibrium decisions have a certain degree of robustness under random perturbation. To improve the performance of green technological licensing models, we introduce revenue-sharing contracts into the green technological licensing negotiation processes and show that, if the better-off firms agree to transfer a certain portion of their revenues, revenue-sharing contracts can increase the total profits of firms and are profitable for all parties. From an economic and environmental perspective, green technological licensing strategies can promote sustainable social development, while revenue-sharing contracts can significantly increase the incentive for rival firms to license green technologies.

Importance of cyber protection in the power grid in the face of an uncertain future

In the digital era, cybersecurity is transforming the behavior of human beings in the correct use of technology, which is why it has become a critical element in business strategy, thus giving rise to the present research, which identified the current situation of associated companies in the process of generation, transmission, distribution and public lighting of electricity in Costa Rica, in the field of cybersecurity, with special emphasis on the identification, analysis and evaluation of policies, standards, procedures, controls, regulations and infrastructure in the sector. The study approach was quantitative, descriptive, and exploratory; based on a sample of experts in information security, where a survey was used for data collection. In the findings obtained, the existence of personnel with the technical knowledge to deal with a computer incident was observed, but from the business perspective, the lack of an institutional guideline and country strategy for the protection of the electrical network was recognized. In conclusion, there is a latent risk in the infrastructure of the national power grid, which is evidenced by the lack of a clear national strategy that establishes a roadmap to protect the sector against a possible cyber-attack.

Examining the Benefits and Drawbacks of Open Network Architectures in E-Commerce

The advent of digital commerce has revolutionized the way businesses operate and interact with customers. One of the key factors contributing to this transformation is the emergence of open network architectures, which facilitate seamless communication and data exchange between various entities within the e-commerce ecosystem. This research aims to provide a comprehensive analysis of the benefits and drawbacks associated with open network architectures in the context of digital commerce. And to investigate how open network architectures promote accessibility and interoperability among diverse systems, enabling seamless integration and collaboration within the e-commerce landscape. Explore the potential of open networks to foster innovation and scalability, empowering businesses to rapidly adapt to changing market demands and technological advancements. Evaluate the economic advantages of open network architectures, including reduced infrastructure costs, improved resource utilization, and streamlined operational processes. Examine the potential vulnerabilities and risks associated with open network architectures, such as data breaches, cyber threats, and privacy issues, and propose strategies to mitigate these challenges. Investigate the role of governance frameworks and industry standards in facilitating the effective implementation and management of open network architectures within the e-commerce domain. Identify and analyze the potential barriers to the widespread adoption for overcoming these challenges. This paper aims to provide a comprehensive analysis of the benefits and drawbacks associated with open network architectures in the context of e-commerce. Through real-world case studies, theoretical frameworks, and a multi-faceted approach encompassing technical, business, and strategic perspectives, we strive to equip e-commerce stakeholders with the insights necessary to navigate this complex landscape and make informed decisions that align with their organizational goals and market dynamics.

Competitiveness Strategy Analysis With SWOT Approach Of Grocery Stores Islamic Business Perspective

The grocery store became one of the UMKMs that channeled everyday needs to the community. This research aims to identify strategies to improve the competitiveness of food enterprises with a SWOT analysis approach, with a case study of Rizqi Halwa Kelontong Shop in Negarayu Village, Tonjong District, Brebes District. This research uses qualitative descriptive methods. Data sources in this research include primary and secondary data. With the collection of primary data from interview and observation, Secondary data from library studies such as journals and relevant articles. The strategy to compete in enterprise is the most crucial thing in development process of enterprise, so it requires the right strategy by implementing the SWOT analyst approach. Besides, as Muslim, also need to pay attention to existence of Islamic business ethics. Islamic business ethics teaches businessmen tobe able to follow orders they are taught and avoid prohibitions in accordance with Islamic rules. SWOT analysis of grocery stores shows strength in product completeness, price flexibility, and good customer service. However, there are weaknesses such as space constraints and SDM, a less strategic location. Opportunities to expand the product sector and enhance cooperation with suppliers need to be exploited, while threats come from large-store competition and price fluctuations. Strategies that match the SWOT matrix should used to maximize strengths, minimize weaknesses, and improve the competitiveness and resilience of retail stores in the market. The owner of this store applies the principles of Islamic business ethics and always keeps practicing shiddiq, trust, fathonah, and tabligh attitudes.

Business Strategy Map and Key Performance Indicators for Saffron Petshop Based on Balanced Scorecard

Introduction: The success of the implemented business strategy is considered successful if the company's performance ability or performance is positive or increases well. One way to calculate company performance is with a Key Performance Indicator (KPI). Objective: This paper aims to analyze the business strategy map and key performance indicators of Saffron Petshop based on a balanced scorecard. Design/methodology/approach: This research uses quantitative methods with a descriptive approach. Descriptive approach describes and explains phenomena to conclude phenomena with limited implications. The theories used in this research are Key Performance Indicators (KPI), balance Scorecard theory, and Strategic maps. The data collection technique used in this research is semi-structured interviews using questionnaires to customers at Saffron Petshop. Findings: The main findings in this study indicate that performance based on a financial perspective shows quite effective results with an increase in net profit when other types of businesses are affected by covid 19. Second, performance based on customer perspective shows very effective results when indicators of good customer satisfaction levels are calculated. Third, the effectiveness of performance based on internal business perspectives shows effective results with increased service and product innovation to increase revenue from Saffron Petshop. Fourth, performance based on the learning and growth perspective shows effective results with increased productivity and employee satisfaction.

SOE REGIONAL GENERAL HOSPITAL PERFORMANCE MEASUREMENT USING THE BALANCED SCORECARD METHOD

An organization must assess the efficacy of its implemented performance measures. SoE Regional General Hospital is a local government agency specializing in public health services. This study endeavors to evaluate the performance of SoE Regional General Hospital (RSUD) by applying the Balanced Scorecard methodology. It was a descriptive quantitative study involving 81 respondents (54.9% female, 45.1% male), with a sample of 72 employees (72.8% female, 27.8% male). The findings indicate that RSUD SoE achieved a total performance measurement score of 0.6, categorizing it as 'good'. Specifically, revenue growth is observed from the financial perspective, albeit not reaching the target; expenditure costs remain within budget, and annual SILPA is reported. Customer satisfaction stands at 64.6%, representing a positive outcome in the customer perspective. Innovations in operational processes are evident in the internal business perspective, though inpatient service indicators fall short of Ministry of Health standards. Regarding growth and learning, employee satisfaction reaches 70.8%, with regular training programs and a favorable retention rate, indicating a conducive environment for employee productivity. Overall, the Balanced Scorecard assessment places the performance of the state-owned hospital within an acceptable range, indicating satisfactory performance levels.

Grounded Theory Analysis of Online Shopping Reviews Based on Text Clustering

Grounded Theory Analysis of online shopping reviews can improve the quality and accuracy of review data analysis, providing valuable information and suggestions for relevant businesses and consumers. This article focuses on analyzing mobile phone reviews on JD.com as coding objects, effectively employing machine learning algorithms such as Latent Semantic Indexing (LSI), Latent Dirichlet Allocation (LDA), and text clustering in natural language processing to extract thematic keywords from online shopping review texts and perform axial coding. Subsequently, DBSCAN clustering algorithm is applied to categorize the main categories of design, service, and production under the perspective of businesses and consumers as consumption attraction, while categorizing price and brand under consumption intention, forming selective coding. By applying Grounded Theory to the analysis of online shopping reviews, this study accurately identifies consumer needs and feedback, with the aim of helping businesses improve product and service quality, enhance customer satisfaction and loyalty, and engage in personalized marketing and customized services.