Business World Research Articles

Awareness of Gig Economy in Malaysia: Study At International University of Malaya-Wales

Digitalization has transformed the world of business tremendously. The world of employment has shifted from a conventional method to a more flexible and seamless way. A gig economy has opened secondary careers that have created more opportunities that consequently have boosted the country’s economy. This secondary career is referred to as “freelancing”, or work on a job basis. In Malaysia, awareness and knowledge on this matter is still lacking and needs more studies and investigation. Past studies in Malaysia found that the gig economy faces challenges in terms of job security and safety, protection policies, proper platforms and dissemination, etc. Due to this, more studies are required to examine better development and implementation for gig communities. The findings will facilitate the development of better platforms and communities for a gig economy. Thus, this study aims to understand the awareness and knowledge of Malaysian private higher education staff and students on the gig economy. As such, this study specifically gathers data at the International University of Malaya-Wales. The findings will provide insights to lecturers, students, even alumni on how this kind of economy will benefit them and other stakeholders. These findings will also enrich the current data and information for policymakers, employers, and practitioners.
 Keywords: gig economy, private university, human resource, awareness, knowledge

The Impact of Relationship Marketing Strategies on Customer Loyalty in the High-End Hair Salon Industry in Auckland

<p class="MsoNormal" style="margin-top: 12pt; text-indent: 0cm; text-align: justify;"><span lang="EN-US" style="font-family: 'times new roman', times, serif; font-size: 14pt;">The business world is a competitive place, and enterprises must cultivate sustainable relationships with their clients to gain customer loyalty. Concepts of relationship marketing (RM) are becoming vital in the service industry. Different RM strategies are used to attract customers, but some of these strategies do not achieve customer loyalty as easily as predicted due to customers’ changing behaviour patterns. This paper investigates the impact of RM strategies on customer loyalty through relationship qualities (customer satisfaction and trust) by concentrating on the high-end hairdressing sector in Auckland. Additionally, this research investigates the expectations of customers of high-end hair salons formed by RM strategies, which influence their satisfaction, trust, and customer loyalty to their service provider. The results indicate that brand image shows a significant relevance to trust, satisfaction, and customer loyalty claiming that brand image is an essential element of RM. Additionally, this investigations revels that, hair salons in Auckland are looking forward to ascertaining a sustainable relationship with their clients through a spectrum of strategies such as positive brand image, good service quality, reasonable price, and good value deals to earn optimistic relationship quality, which will ultimately escalate to customer loyalty. Findings of this research will be useful in supporting hair salons to gain a greater understanding of their customers by adopting effective RM strategies.</span></p>

Blockchain auditing dilemma: Exploring hesitation among audit firms

Blockchain technology, initially developed for the cryptocurrency Bitcoin, has expanded its reach into various sectors, such as supply chain management, healthcare, and real estate. The technology's transparency, and security have led many to view it as self-auditing. On the other hand, as blockchain integrates into traditional business models, the necessity for formal auditing processes akin to those in the nonblockchain corporate (business) world becomes evident and highly important. The present research explores the hesitancy among audit firms (statutory auditors) to engage in blockchain auditing, delving into the technological, regulatory, and inherent risks that make blockchain a challenging terrain for auditors and their work. The present research outlines the evolution of the blockchain environment, detailing its historical progression and diverse platforms. This finding underscores the crucial role of auditing in ensuring transparency, trust, and corporate (business) sustainability. The challenges faced by audit firms in the blockchain space, including technical complexities, regulatory ambiguities, and inherent risks such as cryptocurrency market volatility/risk, are extensively discussed. Practical case studies such as those of DAO attack, QuadrigaCX's missing funds, and the scrutiny of Bitfinex and Tether illustrate the consequences of inadequate auditing in blockchain platforms. Potential solutions for these challenges have been put forth, with an emphasis on the following: collaborative learning and training, advocacy for regulatory clarity, technological advancements, and the development of auditing standards specific to blockchain. The study culminates by emphasising the consequences of audit firms' ongoing reluctance towards blockchain technology and the advantages that can be gained by surmounting these obstacles. The aforementioned discovery implies that a mutually beneficial association between auditors and the blockchain industry may usher in an unprecedented epoch characterised by enhanced market economy transparency, confidence, and ingenuity. A comparison of conventional and blockchain auditing methods is presented in the appendices, with an emphasis on the distinctions between the two approaches.

ANALYSIS OF THE IMPLEMENTATION OF THE DIGITAL ECONOMY AND ITS IMPACT ON PROFIT EARNINGS OF BERKAH DELIVERY MSMEs

The growth of a region can be seen through its economic growth. The Lamongan economy of Indonesia, based on the amount of Gross Regional Domestic Product based on current prices in 2022 reached Rp 45.44 trillion and based on constant prices in 2010 reached Rp 29.45 trillion. Lamongan's economy in 2022 experienced an accelerated growth of 5.56% after previously growing in 2021 by 3.43%. In terms of production, the Transportation Business Field experienced the highest growth of 15.82%. The digital era gave rise to the phenomenon of the digital economy which later became a trend in the development of the business world. Berkah Delivery is a pioneering MSME in Lamongan engaged in transportation and goods delivery services. Its activities utilize economic digitalization ranging from marketing, online service methods, and payments. This study is intended to examine how implementing the digital economy is carried out and how it impacts profit generation by minimizing operational costs. This research was conducted qualitatively descriptively with case studies and using literature studies. The results of the research are expected to contribute to the right discourse and recommendations for MSME players who implement the digital economy system as a business revolution. The result of this research is that Berkah Delivery Lamongan has utilized the digital economy with its marketing mechanism through social media. The service system also uses an order system through wa and for payment using digital wallets or via transfer. However, the implementation of economic digitalization has not been fully in-depth because of the lack of digital literature. Financial management and payroll systems are still carried out manually, but in this case, it is shown that the operational costs incurred can be minimized because there is no need to provide physical space or operational maintenance of the building in its business.

ANALISIS PENGARUH HARGA, KUALITAS PRODUK DAN CITRA MEREK TERHADAP KEPUTUSAN PEMBELIAN SMARTPHONE SAMSUNG

ANALISIS PENGARUH HARGA, KUALITAS PRODUK DAN CITRA MEREK TERHADAP KEPUTUSAN PEMBELIAN SMARTPHONE SAMSUNG

Gaming [the] Systems: Critical Analysis through Tabletop Roleplaying Games in Humanities Classrooms

In its very designation, “role play” contains a productive tension: the expectations bound up in roles and the liberating potentiality of play. It comes as no surprise, then, that role play has found expression in the worlds of business, therapy, education, and even the military. Table-top games exist as our culture’s most familiar form of role play but among its least theorized. In this paper, I examine the rich potential of table-top role-playing games in humanities classrooms as a means to fuel cultural critique, critical analysis, class discussion, and self-reflection. My paper lays out a theoretical structure for analyzing games as multi-dimensional texts and a practical guide for bringing them into the classroom. In particular, I look at two free-to-access and permissively concise game systems which can easily fit into an open week of coursework. The games, “Lasers and Feelings” and “The Deep Forest,” depart from the cultural expectations of “Dungeons & Dragons” to rethink, adapt, and challenge our understanding of issues ranging from the formulation of the rational, Western subject to the politics of post-colonialism. I supplement conventional process-oriented pedagogy with Ian Bogost’s “Persuasive Games” and C. Thai Nguyen’s “Games: Agency as Art,” to establish a robust groundwork for students to analyze and critique how game design decisions make arguments about the world. Furthermore, in playing the games in the classroom and debriefing afterwards, students identify their internal systems that reflect and inform their own assumptions about the world.

Business peoples’ perceptions of English language use and its importance in the Chinese business world: a mixed-methods study

ABSTRACT This article presents the findings of a study measuring business people’s perceptions of English language use and its importance in the Chinese business community. Utilizing a mixed-methods sequential explanatory design, an analysis of cross-validated data from 1505 questionnaire participants and 30 interviewees revealed that business people in China do not use English as frequently as their national language, Mandarin Chinese, in their dealings. Nevertheless, the findings also indicated that business people are becoming increasingly aware of the importance of English as a medium of communication in the business world. The findings have meaningful implications for practitioners of English for specific purposes, policymakers, and materials developers.

Issues to consider relating to information governance and artificial intelligence

Information governance and policy guidance will be essential for effectively deploying artificial intelligence (AI) in the business world. This paper considers some of the aspects relating to AI which need to be considered. The paper highlights some of the current work being conducted in UK local government. It will look at the UK government strategy for AI and consider some of the issues relating to AI policy and governance. The paper offers an approach for organisations and other researchers to develop their own AI assurance and governance framework. The future work section explores some of the areas in which there is a need for future work and research.

Job satisfaction’s effects on fraud intentions on employees of financial companies in Semarang City

Today's business economic competition encourages companies to maximize the potential of human resources. Ideally, human resources have the capacity, capability, and integrity to maintain resilience in the business world, especially financial companies. However, the reality is that in Semarang City there are still fraud intentions in the form of corruption in employees of one of the banks, which has the potential to reduce company resilience. Job satisfaction is a reflection of workers' attitudes in responding to the work environment, this is related to the level of fraud intentions. This study aims to analyze the effect of job satisfaction on fraud intentions in employees of financial companies in Semarang City. The method used is quantitative-based with data collection techniques in the form of distributing questionnaires to 30 samples. The research data were tested using tests of validity, reliability, normality, linearity, and homoscedasticity. A simple linear regression analysis was performed for the impact of job satisfaction on fraud intensity. The results of this study show that there is a positive influence between job satisfaction and fraud intentions. The suggestion for future research is to extend the research period and take samples from all industries registered in Indonesia in various cities so that the research results can be used as generalizations.

DIGITAL TRANSFORMATION AND DIGITAL CULTURE

The paper marks the strong link between digital transformation and digital culture and how success is the result of two mutually conditioning variables. Digital transformation is a vast and complex phenomenon with multiple implications operating on two levels: microeconomic and macroeconomic. As a result, both internal and external organizational environments are changing profoundly. The digital transformation has two sides (it is both an autonomous strategy and the result of the digital one). This restructuring is taking place as a result of the new effects generated by this process: new business models, increased competitiveness in the business world, increased organizational efficiency and effectiveness, and culture plays an important role in this new landscape. Industry 4.0 is also a key determinant that has imposed a series of organizational changes and is linked to digital culture and digital transformation. The tools used were literature review and bibliometric analysis using VOSviewer for visualizing the main and secondary synapses between the variables. Through them, the hypothesis of interdependence between variables (digital transformation and digital culture) was validated. Digital transformation and digital organisational culture condition each other to ensure organizational success in an increasingly volatile, unstable, ambiguous, and digitally complex environment. The items that ensure the connection of the variables and the way in which new conceptual nodes are connected have been identified.

IMPROVING THE INTERNSHIPS QUALITY IN SUPPORTING VOCATIONAL COLLEGE STUDENTS' JOB SEARCH SUCCESS

Internships prepare students to enter the industry, business world, and world of work (IDUKA). Internships encourage improved job prospects, higher wages, and reduced skill mismatches. The purpose of this study is to analyze the influence of internship quality on students' career adaptability and students' job search success also to formulate strategic recommendations for improving the quality of apprenticeship programs. The population of this study is all alumni of Politeknik Ketenagakerjaan, Politeknik APP Jakarta and Politeknik STMI Jakarta who are recorded as already working. A total of 99 respondents were selected by purposive sampling then analyzed using SEM-PLS and the Analytic Hierarchical Process (AHP). The results of the study found that there is a positive and significant influence between internship quality on career adaptability, career adaptability on job search success, internship quality on job search success and internship quality on job search success through career adaptability. The most important alternative strategy for improving internship quality is setting up an internship mentoring program. Universities and companies must develop an internship curriculum for each internship position before setting up an internship mentoring programme.

ANALYSIS OF THE IMPLEMENTATION OF BUSINESS EDUCATION AT AS-SA’ADAH VOCATIONAL SCHOOL EAST JAKARTA

This research aims to analyze the implementation of business education at the As-Sa’adah Vocational School, East Jakarta. Business education at this school is the main focus to understand how the material is taught, the teaching methods used, and its impact on students’ interest and involvement in the world of business carried out by the As-Sa’adah Vocational School. The research method used is qualitative research with a case study approach. Data collection was carried out through interviews with students in grades X, XI, and XII and alumni of As-Sa’adah Vocational High School, East Jakarta, selected randomly with 10 individuals from each cohort. The results show that entrepreneurship education at As-Sa’adah Vocational High School provides positive contributions and can cultivate entrepreneurial tendencies among students, especially after graduating from As-Sa’adah Vocational High School. The implication of this research is the need for increased support and resources to support the effective implementation of business education at As-Sa’adah Vocational High School.

Initiating a Modern Pesantren with Agribusiness Skills as an Effort to Prosper the Community Ciherang Village, Kec. Ciomas, Kab. Bogor, West Java

Islamic boarding schools are traditional Islamic educational institutions that exist only in Indonesia, have become an integral part of the culture of Islamic education in Indonesia and are synonymous with studying the yellow book away from the hustle and bustle of the business world. The purpose of this research is to determine the education process, design an education model in a modern Indonesian Agro Boarding School with agribusiness skills. This research also conducted a SWOT analysis to determine management strategies, as well as the internalization process. The object of research is a modern boarding school in West Java. The research method used qualitative analysis using SWOT analysis. Collective data is done by distributing questionnaires and indept interviews. Informants used as data sources are boarding school administrators. The results prove that the educational process in pesantren is grouped into two parts of learning religious knowledge and enterpreunership skills. The enterprenership education model is designed according to the talents of the students in the field of agribusiness with each accompanied by a tutor. Based on the results of the Swot analysis, the management strategy that can be applied is a growth strategy and strengthens the internalization of management. The implications of the research change the paradigm of the pesantern cottage as a place to create Islamic entrepreneurship and competitiveness

A Case Study of Large Language Models' Effectiveness in Diverse Business Applications: Developing a Universal Integration Framework

In an era where data-driven decision-making is paramount, Large Language Models (LLMs) have emerged as a powerful tool for businesses across various sectors. However, the integration of these models into diverse business contexts presents unique challenges, ranging from technical implementation to strategic alignment with business goals. This research aims to build a comprehensive framework for the effective integration of LLMs into different business environments. By thoroughly exploring and documenting a variety of practical use cases of LLMs, the study develops a set of best practice guidelines tailored for businesses. These guidelines are designed to assist companies, irrespective of their industry, in leveraging the advanced capabilities of LLMs for enhanced data analysis, strategic decision-making, and operational efficiency. The research combines theoretical insights with practical applications, aiming to bridge the gap between the expanding field of LLMs and the evolving needs of the business world. The expected outcome of this research is a versatile, scalable, and accessible framework that empowers businesses to harness the full potential of LLMs, driving innovation and competitive advantage in the data-centric corporate landscape.

Influence Of Service Quality And Prices Towards Customer Loyalty Of Cahaya Garden Pharmacy In Batam

Customer loyalty is required in the business world, special in pharmaceutical companies such as pharmacies. The purpose of this study was to choose the impact of the quality and price of the service on patient loyalty at the park's lighting pharmacy. The analysis solution used in this study is a multiplex analysis method. This survey is a quantitative survey using survey methods. This survey is intended for customers who have visited several times. The sampling solution uses targeted sampling by a total of 162 respondents. The data investigation solution used to answer the hypotheses is the multiple regression analysis method. The results of the survey explained that the quality of service variables had a positive and significant impact on customer loyalty. This is clear from the important quality of service values, and the calculated t value is more important than the table value t. Price variables have a significant positive impact on customer loyalty. This is important and is evident from the value t being more important than the value of table t. Based on this study, the Cahaya Garden pharmacy can improve the quality of services and monitor prices, so it must maintain stability and competitiveness and retain its customers. Keywords: service quality, price, customer loyalty.

THE ROLE OF BUSINESS STRATEGY IN MODERATING THE EFFECT OF ESG PERFORMANCE ON FIRM VALUE

<p><strong>Background</strong>: The sustainability issue has become a global conversation both in society and especially in the business world. Climate change, social crises, and environmental issues pose threats to the global economy, especially for developing countries with weaker infrastructures compared to developed nations, thus necessitating sustainable practices, one of which is through ESG disclosure.</p><p><strong>Objective</strong>: This study aims to empirically examine the influence of ESG performance on firm value with business strategy using Miles & Snow's typology (1978) as a moderator.</p><p><strong>Research Methodology</strong>: This study uses unbalanced panel data regression with fixed effects using robust standard error to prevent bias in testing the formulated hypotheses. The population in this study consists of non-financial sector companies listed on the Indonesia Stock Exchange (BEI) from 2018 to 2022, with a sample of 194 companies. The data collection method utilizes purposive sampling. Data is analyzed using the panel data regression method.</p><p><strong>Research Findings</strong>: The results of this study show that ESG performance has a significant negative impact on firm value. Furthermore, this research finds that business strategy can moderate the relationship between ESG performance and firm value, where it strengthens the negative relationship between ESG and firm value. Additional analysis reveals that the defender strategy weakens the negative relationship between ESG and firm value. Meanwhile, the other two strategies are unable to moderate the relationship between ESG and firm value.</p><p><strong>Originality/Novelty of Research</strong>: This is a study examining the influence of ESG on firm value with business strategy as a moderator in the non-financial sector companies in Indonesia listed on the BEI using data from 2018 to 2022</p>

Can the Circular Economy Unlock Sustainable Business Growth? Insights from Qualitative Research with Specialists in Romania

Concern for sustainable development and environmental protection has become increasingly important in the business world in recent decades. Looking for business professionals who are currently implementing sustainable development practices and the principles of the circular economy might be the most meaningful approach to the time and the space we are all heading towards in the future. This study seeks to identify the motivations, obstacles, strategies, and perspectives of specialists in the integration of the circular and sustainable economy model in businesses in the Romanian context. It focuses on providing a solid basis for promoting sustainable practices and policies in the business environment, considering theoretical elements and the perspectives and experiences of specialists. In our research, qualitative in-depth interviews were conducted among diverse specialists in Romanian businesses to gain insight. The research findings indicate consistent requests for consumer education and involvement in the circular economy process and for political support and funding sources for investments in assistive technologies. This article presents viewpoints from Romanian experts, entrepreneurs, and business decision-makers on the circular economy and sustainability. Decision-makers prioritize developing and promoting sustainable products and services, emphasizing the use of recycled materials, and using renewable energy for their activities. The presented results highlight the situation in Romania and implicitly make a significant contribution to the scientific knowledge in this field. Although the study’s qualitative nature limits its generalizability, it offers valuable insights and suggests potential directions for future research on aspects related to the circular economy and sustainability.

The Competitiveness Between Companies and Its Importance

Competitiveness as a feature of the business world today, has become imperative for institutions to seek absolute acquisition of characteristics that distinguish them from other institutions and organizations competing with them in the market, hence it was necessary to search for these characteristics to be at the center of the organization's work to acquire, maintain, develop and strengthen them

Article Review: Henri Fayol, Practitioner and Theoretician - Revered and Reviled by Mildred Golden Pryor and Sonia Taneja

The primary objective of this paper is to review an article titled “Henri Fayol, practitioner and theoretician - revered and reviled” written by Mildred Golden Pryor and Sonia Taneja (2010). Pryor and Taneja (2010) critically evaluate Fayol’s theory within the contemporary business context. They argued that Fayol’s theories are valuable and relevant for organizational leaders because Fayol was a practitioner who documented theoriesthat worked best for him and his co-workers. Even though, there are a few criticisms on Fayol’s theories still his theories are applicable with some advancement as a basement for the management implications for the contemporary business world. Pryor and Taneja (2010) compare Fayol’s work with the contribution of other scholars namely, Follett, Mintzberg, Taylor, and Porter’s, while evaluating the original and current interpretation and application of Fayol’s theories. Finally, Pryor and Taneja (2010) appreciate Fayol’s contribution specially the 14 principles of management due to its more optimistic features. Therefore, it is necessary for the students, teachers, and practitioners to understand the relevance of the theories and be able to utilize, Fayol’s principles and theories for improving the organizational performance and further studies. Keyword: Article review, Henri Fayol, Practitioner, Theoretician

Perlindungan Hukum Pekerja Terhadap Perjanjian Kerja

Introduction: Labor law guarantees that every worker has the right to a decent livelihood for humanity, one of which is realized in the form of wages and employers are prohibited from paying wages under the minimum wage provisions. This emphasizes the provision of legal protections for workers to ensure the fulfillment of workers' basic rights. However, in practice there are stillemployers who provide workers with wages below the minimum wage. Sothat workers have difficulty meeting their needs and workers' right to a decent livelihood for humanity is not achieved. Purposes of the Research: to find out and analyze the implementation of the employment agreement and the legal protection of workers against the employment agreement. Methods of the Research: This research uses the normative legal research method which is carried out by examining legal materials to answer the legal issues faced.Results of the Research: The results showed that the implementation of the employment agreement had met the requirements of the employment agreement, but the entrepreneur CV Gemilang Sukses defaulted on the wage element. Because, in the employment agreement, CV Gemilang Sukses employers promised to pay workers' wages according to the Ambon City Minimum Wage. However, in its implementation, it turns out that the entrepreneur CV Gemilang Sukses pays workers' wages below the Ambon City Minimum Wage. Then, the legal protection that workers can get from employment agreements is in the form of legal protection of workers for wages, work time, rest time and time off from working overtime, disabled workers, female workers, pregnant, childbirth, child labor, occupational safety and health, termination of employment, labor social security and morals, decency and treatment according to human dignity and dignity. . Such protection can be provided through preventive legal protections such as the creation of employment agreements and the filing of objections before signing employment agreements and through the protection of repressive laws, namely the establishment of efforts to resolve labor disputes. The existence of legal protection in order to ensure the fulfillment of the basic rights of workers, equalityvtreatment without discrimination for the realization of welfare for workers and their families, taking into account the progress of the business world and the interests of employers.