Business Practices Research Articles

Etika Bisnis Islam: Pendekatan Siklus Ekonomi dan Praktik Bisnis Syariah dalam Ekspansi Waralaba Industri Retail

In this era of globalization, franchise expansion has become one of the main strategies for the growth of the retail industry. However, in a business context governed by Islamic principles, the concept of business ethics becomes increasingly relevant. This article explores the role of Islamic Business Ethics in the context of franchise expansion in the retail industry, with a focus on economic cycles and sharia business practices. Through a literature review, this article describes how Islamic business ethical values can direct franchise expansion steps, manage risks in fluctuating economic cycles, and implement sharia business practices that are in accordance with Islamic principles. This research discusses the implications of Islamic business ethics in strengthening the foundations of sustainability and long-term success for the retail industry which focuses on the principles of justice, social responsibility and economic balance. The research results show that the application of Islamic business ethics in franchise expansion in the retail industry can improve business performance, strengthen consumer trust, and promote business sustainability. This research highlights the importance of understanding and applying the principles of Islamic business ethics in the context of modern business, especially in the retail industry.

Is the accounting curricula keeping up with sustainability development?

ABSTRACT There is continuing demand from practitioners, standard setters, and regulators for accountants to have the knowledge and competencies to contribute to sustainable business practices, reporting, and assurance. Educators at all levels of the accounting curricula have a responsibility to upskill. This research examines the extent of sustainability education among all levels of accounting curricula. Publicly available course information at three levels in New Zealand – secondary school, university, and professional accounting – was analysed using content analysis. The research finds a lack of sustainability education at all accounting curricula levels, with uneven coverage that is focused on sustainability broadly with questionable breadth and depth. This inconsistency among accounting educators results in accounting graduates with varied exposure to sustainability. This research calls for collective responsibility and collaborative leadership among educators, professional accounting bodies, practitioners, standard setters, regulators, and society to ensure sustainability education keeps pace with the development of sustainability accounting practice globally.

The Factors That Influences on Working Environment of Government Employees in Bosnia and Herzegovina

In today's business environment, the majority of business activities are closely tied to information technologies, which play a crucial role in enabling and facilitating business operations when utilized effectively. There is a growing emphasis on the adaptability of individuals in the workplace and the utilization of human capital in business success. A key requirement for business organizations is the effective management of information technologies, which encompasses the knowledge, skills, and abilities possessed by employees to navigate evolving technology and achieve organizational objectives. This includes proficiency in digital competencies for continuous learning and adaptation to the ever-changing landscape of information technologies. This study introduces indicators related to adapting to changes in the workplace, focusing on human capital engaged in continuous learning and information technologies. The process of adapting to changes is highlighted as a means of transforming essential business competencies into contemporary skills. The integration of these factors in the business framework reflects organizations' readiness to embrace modern business practices. While the research was conducted in state institutions rather than private companies, its significance lies in introducing novel approaches to business practices in Bosnia and Herzegovina. The recommendations presented at the conclusion of the study aim to further enhance the modernization of business approaches and assess the potential impact of competency gaps on organizational performance.

COMPARATIVE ANALYSIS OF BUSINESS MODELS IN RETAIL: FAST CYCLE VS. LONG-TERM SUSTAINABILITY

This study conducts a comprehensive comparative analysis of fast-cycle and long-term sustainability business models in the retail industry. Through a mixed-methods approach, incorporating both quantitative and qualitative data, this research examines the key characteristics, underlying mechanisms, and impacts of these two contrasting models. The findings reveal stark differences in supply chain structures, design and production processes, marketing strategies, and consumer behavior. While fast-cycle models excel in speed, affordability, and trend responsiveness, they are associated with environmental degradation, ethical concerns, and a culture of disposability. Conversely, sustainable models prioritize ethical sourcing, environmental responsibility, and long-term value creation, but face challenges related to cost, scalability, and the need to balance timelessness with trend relevance. The implications for retailers, policymakers, and consumers are discussed, with a focus on the potential for hybrid models that combine elements of both approaches. This research contributes to the growing body of literature on sustainable business practices and provides valuable insights for retailers seeking to navigate the complex landscape of consumer preferences and sustainability demands.

Crafting an Inclusive Procurement Policy: Strategies for Embracing Supplier Diversity

Purpose: In today's global marketplace, diversity and inclusion have transitioned from mere buzzwords to indispensable elements of successful business practices. A robust procurement policy that embraces supplier diversity not only cultivates a more inclusive supply chain but also drives economic growth and social progress. Methodology: This article examines key strategies for integrating supplier diversity into procurement policies, drawing insights from existing literature and best practices in the field of supply chain management and diversity initiatives. Findings: The article outlines strategies such as incorporating diverse suppliers into Requests for Proposals (RFPs), setting thresholds for diverse supplier consideration, addressing risk acceptance and deviations, and emphasizing genuine efforts over token gestures. It highlights the importance of striking a balance between excellence and diversity while prioritizing active engagement with diverse suppliers. Unique Contribution to Theory, Practice, and Policy: By synthesizing insights from academic research and real-world case studies, this article offers actionable recommendations for organizations seeking to enhance their supplier diversity initiatives. It underscores the necessity of genuine efforts in supplier diversity initiatives, advocating for the integration of diversity considerations into procurement policies to foster economic empowerment, social equity, and long-term sustainability in supply chain operations.

The Influence of Environmental Sustainability Orientations on organizational Performance: A Review

This comprehensive review addresses a critical research gap concerning the relationship between Entrepreneurial Orientation (EO), Environmental Sustainability Orientation (ESO), and organizational performance. The study advocates for future research to delve into this uncharted territory, providing valuable insights for organizations and policymakers to promote entrepreneurship and sustainable business practices. It suggests a deeper examination of EO, specifically Innovativeness, Proactiveness, and Risk-Taking, as independent variables, alongside organizational performance as the dependent variable. The review emphasizes the pivotal mediating role of ESO, highlighting its strategic significance in differentiating firms and enhancing performance. It affirms the positive influence of EO on ESO, subsequently improving organizational performance. The review stresses the managerial implications of integrating EO dimensions into strategies for a competitive advantage, along with the importance of embracing ESO for reputation enhancement and cost reduction through eco-friendly practices. The study encourages future researchers to explore additional EO variables and utilize diverse data analysis tools to enhance understanding of the intersection of entrepreneurial and sustainability orientations.

Collaborating a Dependent Business Model: Corporate Social Responsibility - Evidence from India

The research concludes that businesses in developing nations, notably India, exhibit a steadfast commitment to Corporate Social Responsibility (CSR). Despite marked advancements in CSR procedures, there remains a judgment for businesses to transcend self-interest and embrace a broader societal perspective. For multinational corporations (MNCs), robust CSR practices are indispensable for upholding their reputational integrity. The research utilizes secondary data of the Net Profit after taxes, CSR Spending and Budget for the Fiscal Years 2017–18 to 2021–22, Share prices for the fiscal years 2017–18 through 2021–22 on the BSE and NSE, and Sector-wise distribution of CSR initiatives from company websites, online databases, and annual reports. The findings suggest that businesses in developing nations, including India, are committed to CSR. While there has been an improvement in CSR practices, businesses are still not consistently going above and beyond or solely focusing on themselves. This study contributes valuable insights into the evolving CSR terrain within India, shedding light on the strides made and the persistent challenges encountered in fostering a symbiotic relationship between corporate profitability and social responsibility. By delineating these nuances, the research seeks to inform stakeholders and policymakers about the trajectory of CSR evolution, thereby fostering a conducive environment for sustainable and responsible business practices. The study provides valuable insights into the CSR landscape in India and the ongoing efforts to integrate responsible business practices.

Enhancing Corporate Sustainability through Just-In-Time (JIT) Practices: A Meta-Analytic Examination of Financial Performance Outcomes

Enhancing Corporate Sustainability through Just-In-Time (JIT) Practices: A Meta-Analytic Examination of Financial Performance Outcomes

Assessing the impact of Medical Education's Innovation & Entrepreneurship Program in China

ObjectiveA growing number of clinical undergraduates are chosen to enter institutions for higher education biotechnology and industry workforce, though most need more laboratory experience training and business practice. Innovation and Entrepreneurship Program (I&E Program) can benefit from biological experiment and commercialization training largely absent from standard clinical medical educational curricula. Our study investigates the impact and status of the I&E Program in enhancing medical students’ research and entrepreneurial abilities and provides recommendations for improving this program.MethodsA cross-sectional study was applied by delivering a questionnaire to survey medical students from Central South University who participated in the I&E Program. The questionnaire consisted of three parts: basic information, the impact of the I&E Program on medical students’ research and entrepreneurial abilities, and attitudes and recommendations regarding the I&E Program.ResultsMany students participating in the I&E Program have received competition awards and improved their academic experience, article writing, and application patents. Their research-related abilities have been enhanced, including in-lab techniques, theoretical research skills, data analysis knowledge, clinical research skills, experimental research skills, entrepreneurship, data analysis ability, teamwork, and communication. While 73.93% of students express satisfaction with the I&E Program, there are still several areas of improvement, including more robust practical components, increased support, and enhanced teamwork.ConclusionThe scale of the I&E Program is rapidly expanding to address scientific research or business skills needed by college students in the new era. However, more programs still need to be discontinued during their further study. The I&E Program significantly enhances research abilities and fosters confidence in their study. This analysis emphasizes the importance of research-oriented and interdisciplinary education for students’ holistic development in medical schools compared with formal medical education.

Aggressive Tax Planning and Performance by Kenya Revenue Authority

Taxation is a vital fiscal tool that can be utilized to augment the economic wellbeing of a nation. Taxation is not only vital for revenue generation purposes; it can also be used to control the behavior of taxpayers such as raising taxes on commodities that are deemed to be toxic to the society, if over consumed. In Kenya, from Financial Year 2010/11 to Financial Year 2020/21 has recorded a deficit budget. A deficit budget implies that the economy’s leverage is weak. The country`s debt ceiling has now become a major issue, since the increase in national debt has surpassed the stipulated threshold necessitating adjustment of debt ceiling. Aggressive tax planning is vital with regards to revenue performance by Kenya Revenue Authority. This paper reviews the conceptual, theoretical and empirical literature and raises a variety of issues that necessitates a proposed theoretical model for the purpose of understanding aggressive tax planning and performance by Kenya Revenue Authority. This study aims at assessing the effects of debt shifting, location of intellectual property rights, bilateral tax treaty and performance by Kenya Revenue Authority. This research will be anchored on Social Learning Theory and Tax Competition Theory. This research study reviewed on the previous studies undertaken on the area of interest. This study focused on the study findings and the methodology. The conclusions regarding the relationship that exist between the independent variables and dependent for this study were derived from the findings of the past studies. Recommendations in this study were made based on the previous study findings and conclusions. This study found that Multinational corporations tend to exploit all the available loopholes within the tax laws in order for them to decrease their tax liability to tax administration. Due to multinational corporations adopting aggressive tax planning, the dire repercussions include tax revenues being collected by the tax administration tend to reduce significantly. This leads to tax administration not meeting their tax revenues collection targets. This study recommends KRA to continuously review any existing loopholes in the tax laws. Sealing the respective loopholes in the tax laws tend to enhance tax revenues collection targets. Further, multinational corporations need to observe ethics in their business practices.

Rancang Bangun Sistem Aplikasi Kasir Pintar Enterprise Resource Planning (ERP) Berbasis Odoo pada UMKM Rumah Makan Tradisional Uni Mita Lintau

The application of information technology on a Micro, Small, and Medium Enterprises (MSME) scale is crucial in increasing competitiveness and operational efficiency in various industrial sectors. In the food and beverage industry, the implementation of a smart cashier application system based on Enterprise Resource Planning (ERP) using the Odoo platform has become a significant concern. This research aims to design and build an ERP-based smart cashier application system using Odoo at the MSME Uni Mita Lintau Traditional Restaurant. By combining Odoo technology with MSME business practices, this research provides a solution to improve operational efficiency and customer experience in traditional restaurants. Through implementation analysis and evaluation, this research offers practical guidance and insight for other MSMEs interested in adopting similar technology to improve their business performance. Thus, this research not only contributes to the practical understanding of the application of technology to MSMEs but also contributes to further developments in the literature on the application of information technology in the food and beverage industry.

Learning from the Past Bridging Digital and Physical Markets: A Guidelines for Future Research Agenda of Online-to-Offline (O2O) Marketing Strategy

This bibliometric study comprehensively analyses the scholarly landscape surrounding Online-to-Offline (O2O) commerce from 2006 to 2023. Through a systematic review of existing literature with a bibliometric analysis approach, this research identifies pivotal themes, methodologies, and findings that characterize the evolution and impact of O2O strategies across various sectors. The study begins by tracing the conceptual foundation of O2O commerce, emphasizing its role in integrating digital and physical consumer experiences in response to the changing dynamics of consumer behaviour and market demands. It highlights the strategic adoption of O2O models by e-commerce entities and brick-and-mortar stores, aiming to create a seamless shopping journey by leveraging the strengths of both online and offline platforms. The analysis focuses on the strategic implications for businesses, including the decision-making processes regarding market coverage, delivery costs, and inventory management to enhance profitability and sustainability. The research further delves into consumer behaviour, examining factors influencing the preference for online or offline purchasing, such as demographic characteristics, product types, price levels, and perceived service quality. The findings reveal a dynamic evolution of O2O strategies, underpinned by a growing emphasis on customer engagement, technological innovation, and the strategic management of online and offline synergies. The research underscores the transformative potential of O2O commerce in bridging the gap between digital and physical marketplaces, enhancing consumer experiences, and fostering sustainable business practices. In conclusion, this bibliometric study sheds light on the multifaceted dimensions of O2O commerce, offering valuable insights for academics, practitioners, and policymakers interested in the strategic integration of digital and physical retail environments. It calls for continued research and innovation to harness the full potential of O2O models in meeting the complex needs of consumers and businesses in the digital era.

Problems and development prospects of “green” logistics of maritime transport in the Russian Federation

Shipping is one of the industries that lags far behind others in environmental sustainability, especially when it comes to reducing the harmful impact on the environment, which makes the problem relevant. The article presents the concept of “green” logistics and its principles used in business practices. Current key problems of maritime transport related to environmental logistics and new requirements of the International Maritime Organisation are described. The experience of applying “green” technologies by foreign companies in the maritime industry has been analysed. It shows that electrification and decarbonisation can be successfully introduced into business practice and lead to improved environmental performance. The state of seaport infrastructure and vessels in the Russian Federation was studied. Certain Russian projects following “green” logistics trends are presented with description of the implemented systems, technologies, and new equipment. Conclusions are made about the potential of “green” logistics in Russia in the future: reduction of negative environmental impact, increase of competitiveness of Russian companies and new opportunities for business development.

Green HRM Practices

Green Human Resource Management (Green HRM) integrates environmental sustainability into core HR practices. It goes beyond just business operations and promotes eco-friendly practices throughout the organization. Green HRM encompasses the entire employee lifecycle, from attracting environmentally conscious talent during recruitment to influencing employee behavior through training and performance management. By effectively implementing Green HRM practices, organizations can not only reduce their carbon footprint through practices like reduced paper usage or energy-efficient buildings, but also cultivate a more environmentally responsible workforce. This can lead to significant benefits like cost savings and attracting top talent who value sustainability, ultimately enhancing the organization's reputation. However, challenges like initial investment costs or employee resistance can arise during implementation. Green HRM has emerged as a critical concept in recent times, seamlessly integrating ecological management with practices in business, urbanization, and industrialization. Its core focus lies in managing human resources effectively while ensuring good working conditions. Green HRM procedures are strategically designed to minimize the carbon footprint of both individual employees and the organization itself. This extends beyond just carbon reduction, as Green HRM also plays a vital role in encouraging employees to conserve resources, participate in waste management initiatives, and contribute to pollution control efforts. The growing importance of Green HRM necessitates increased awareness among companies regarding its multifaceted capabilities. Striking a balance between ecological sustainability and effective human resource management has become crucial. Businesses are now recognizing the significance of considering not just financial gains, but also the social and environmental impacts of their operations to ensure long-term sustainability. This growing recognition has recently captured the attention of academic researchers and practitioners, leading to a surge in scholarly studies on the subject. This research paper delves into Green HRM practices within organizations, drawing insights from a comprehensive analysis of current literature. The aim is to explore the importance of Green HRM concepts, practices, and strategies while acknowledging the challenges faced by businesses and other organizations in implementing them. By utilizing established research methodologies, the study will observe, collect, and analyze contemporary research on Green Human Resource Management, providing valuable insights into this evolving field.

Developing a smart green supplier risk assessment system integrating natural language processing and life cycle assessment based on AHP framework: An empirical study

Global carbon reduction drives the transformations of corporations, emphasizing carbon and environmental impact within supply chains. A critical challenge in risk management is converting unstructured data into quantifiable information, and ruining the conversion often leads to ineffective risk assessments. While artificial intelligence is increasingly used in supply chain risk management, previous studies seldom integrate text analysis for risk extraction and lack accurate risk assessment methods. This study pioneers an intelligent green supplier risk assessment system integrating natural language processing (NLP) and life cycle assessment (LCA) based on an analytic hierarchy process (AHP) framework. The proposed approach utilizes NLP keyword extraction to identify and assess risk and uses LCA to uncover environmental risks, minimizing negative impacts. The text classification model attains 81.7 % accuracy, ensuring a trustworthy risk assessment system. The proposed method could significantly improve risk analysis efficiency, foster sustainable procurement, and elevate enterprise competitiveness in sustainable business practices.

Application of Standard Agreements in Lease Purchase Contracts: Legal Implications of Business in the Realm of Civil Law

Business practices provide easy access to capital for certain goods. Hire purchase arises when the buyer cannot afford to pay cash. Standard agreements cannot be negotiated by consumers. In Indonesia, this practice is growing rapidly, especially in the motorbike trade. The application of standard agreements has important implications in business law, such as consumer protection and dispute resolution. Research on this subject is important for identifying challenges and opportunities in modern business. This legal research uses a normative juridical approach, which is a research method that relies on secondary data sources, such as library materials. This normative juridical approach involves analysis of legal principles, legal systematics, as well as vertical and horizontal synchronization in the civil law system in Indonesia. The results of this research are that the research highlights the importance of understanding the business practices of hire purchase contracts, especially the application of standard agreements and their legal implications. This raises questions regarding the balance of rights and obligations between providers and recipients of goods or services. It is important to understand the legal framework to ensure equality of rights and obligations and maintain the principles of consumer protection and public order in this business practice

Big Data's Future Potential as an Innovation in Competitive Advantage and Decision-Making Techniques

This research highlights the challenges of big data integration in organisational decision-making processes, illustrating the gap between big data capabilities and their effective utilisation. An analytical descriptive qualitative method was used to study the use of big data in supporting sustainable innovation and competitive advantage of organisations in Indonesia. The results show that big data can improve the effectiveness of decision-making strategies by understanding market trends and consumer behaviour, which contributes to improving organisational performance and competitive advantage. These results are expected to contribute to the strategic management and innovation literature and encourage business practices in designing effective big data strategies to achieve sustainable competitive advantage. Keywords: Big Data; Technological Innovation; Strategic Decision Making; Competitive Advantage; Sustainable Innovation

Moderating role of enterprise risk management in the relationship between sustainability performance and a firm’s competitive advantage

The emergence of sustainable business practices has garnered interest among stakeholders. However, the question of whether sustainability performance provides companies with a competitive advantage is still being debated in the literature. This paper aims to examine the influence of sustainability performance – namely economic sustainability performance and environmental, social, governance (ESG) – on competitive advantage, with the effectiveness of enterprise risk management (ERM) as the moderating variable. This paper used 202 firm-year observations during 2015–2022 from non-financial sector companies listed on the Indonesia Stock Exchange. To test the hypotheses, panel data regression with a one-year time-lag analysis is conducted. The findings show that economic sustainability performance has no relationship with competitive advantage, while ESG has a positive effect. Furthermore, ERM effectiveness strengthens the effect of economic sustainability and ESG on competitive advantage. Further investigation used a two-year time-lag analysis for a long-term perspective. The analysis shows that economic sustainability performance and ESG have a positive impact on competitive advantage. In contrast, ERM effectiveness has no effect on the relationship between economic sustainability performance and competitive advantage. Moreover, additional analysis incorporates the effect of COVID-19 into the main model and shows that the pandemic did not affect competitive advantage; this is consistent with the main results. The findings encourage companies to improve their risk management and sustainability initiatives. The government may also take it into account when developing rules that promote the implementation of sustainable development. AcknowledgmentThis research was supported by the Ministry of Education, Culture, Research, and Technology of the Republic of Indonesia through the Center for Higher Education Fund (BPPT) and Indonesia Endowment Funds for Education (LPDP) for providing the Indonesian Education Scholarship (BPI-Beasiswa Pendidikan Indonesia).

The implications of COVID-19 on ESG performance and financial reporting quality in Egypt

Purpose This examine the impact of environmental, social and governance (ESG) performance on financial reporting quality (FRQ) before and during COVID-19 in the Egyptian market. Design/methodology/approach This study uses quarterly data from 2017 to 2021 to draw conclusions, with a sample consisting of 486 firm-year observations for 27 Egyptian companies listed on the Standard and Poor’s/Egyptian Stock Exchange ESG index. This study uses both firms’ ESG scores and the Beneish Model, an earnings detection model, as proxies for FRQ. COVID-19 effects on ESG performance and FRQ were examined by using Pearson’s correlation coefficient and two-stage least squares. Findings COVID-19 has a significant impact on the link between ESG and FRQ. This implies that corporations with high ESG performance are less likely to manipulate earnings (having a low M-score) and thus provide high FRQ during the COVID-19 pandemic. Moreover, there is a significant positive relationship between firm size, leverage and M-Score, indicating that large firms typically present a high FRQ. Research limitations/implications The sample size and data availability are the main research limitations. Additionally, this study only considers the effects of firms’ ESG performance on FRQ during the COVID-19 pandemic. Thus, future research should consider other factors associated with investors’ corporate social responsibility (CSR). Practical implications This research has practical implications for market regulators seeking to establish a legislative framework and enhance guidance to mandate managers to provide ESG data and CSR reports appropriate for Egypt and other developing economies in times of crisis. Social implications Promoting the adoption of ESG practices in business, particularly during crises, has the potential to effectively provide high-quality and reliable financial reporting required for investment. Originality/value This study aspires to address notable deficiencies in the pertinent literature concerning the relationship between ESG performance and FRQ during COVID-19. To the best of the authors’ knowledge, little is known about how ESG performance changes in response to pandemics in emerging markets. To address this gap, this study examines the effects of COVID-19 on the relationship between ESG performance and FRQ in Egyptian-listed firms from 2017 to 2021.

The aspects of the use of cosmetology services nomenclature in medical organizations

Aim – to study the practice of use of the cosmetology services nomenclature in medical organizations. Material and methods. The Clinic of beauty and health "New Life" (Samara, Russia) was the base of the study. We analyzed its business practices and made a review of regulatory documents and scientific literature on the use of cosmetology services nomenclature. The analytical method and the content analysis method were applied. Results. Currently, there is a situation when one medical cosmetology service is called differently in various documents related to medical care provision: in medical documentation, in the contract for the provision of medical services, in informed voluntary consent to medical intervention and other documents, defining medical services in different terms. Conclusion. For responsible professional communication and awareness of generally accepted methods of diagnosis, treatment and prevention in the provision of medical care in the "cosmetology" profile, it is necessary to unify the terminology of cosmetology services within the current nomenclature of medical services.