Changing Business Environment Research Articles

Entrepreneurial Skills Requirement in a Leading Economy Like India: An Empirical Study

Any nation's economic growth and development depend heavily on entrepreneurial abilities, but this is especially true of emerging economies like India. These abilities are necessary for seeing and seizing commercial possibilities, developing new markets, and providing employment chances. With one of the fastest-expanding startup ecosystems in the world, India has recently emerged as one of the world's fastest-growing economies. As a result, there is a huge increase in demand for entrepreneurial talents. Creativity, innovation, risk-taking, leadership, communication, and problem-solving are just a few of the abilities that make up entrepreneurial skills. These skills enable entrepreneurs to identify and pursue opportunities, navigate challenges, and drive growth and innovation. To encourage entrepreneurship, the Indian government has launched a number of programs, including startup incubators, financial assistance, and legislative changes. In spite of the supportive environment, Indian entrepreneurs still confront difficulties such as a lack of talent, regulatory restrictions, and access to financing. A comprehensive strategy involving the efforts of the public and commercial sectors is needed to address these issues. Additionally, in order to stay competitive and innovative, Indian business owners must constantly update knowledge and skills due to the country's rapidly changing business environment.

EFQM and business model relation effect on performance of manufacturing enterprises

In the changing business environment conditions, one of the primary management tasks is competitiveness enhancement. This goal can be achieved, among other things, by improving performance, which has the greatest impact on business success. This research paper aims to indicate that the alignment between the European Foundation for Quality Management (EFQM) model and the business model leads to an increase in enterprise performance. By applying the Fuzzy Simple Additive Weighting (FSAW) method and fuzzy algebra rules, the aggregated value of quality was calculated. Determining the value of the considered performance is set as a fuzzy decision-making problem. Aggregated performance value is given by fuzzy geometric mean with combined fuzzy algebra rules. By applying correlation analysis, the significance of the influence of business models and quality models on the value of performance was determined. The proposed model was tested on a sample of 20 SMEs that operate in the Republic of Serbia.

COVID-19 Effects on Companies Owned by Disabled Entrepreneurs

The COVID-19 pandemic has caused considerable operational and financial challenges to companies, particularly those owned or managed by disabled entrepreneurs. While assessing the impact of the pandemic on the performance of the surveyed companies, this study attempts to explain how disabled entrepreneurs reacted to the effects of the pandemic and their success and shortfalls in overcoming the business and commercial challenges during the pandemic. Focus group discussions were used to collect primary data, with the aim of identifying and exploring different variables that influence the activities of disabled entrepreneurs and affect their business. The content analysis technique was also used to analyze the primary data to determine the status and conditions of companies owned by disabled entrepreneurs and to provide SWOT analysis of these companies. The results revealed that companies owned by disabled entrepreneurs demonstrated resilience and adaptability in surviving the pandemic, despite shortcomings such as falling trade operations, fewer customers, and higher operational expenses. The findings also identified some successful business models, where disabled entrepreneurs were able to adapt to the changing business environment by implementing digital technologies, accepting creative solutions, and changing business strategies. Our findings make original contribution to the field by identifying the serious challenges that encounter disabled entrepreneurs and stressing the urgency of developing specific policies to provide technical and financial support to this group at the time of crises.

Exploring critical success factors for business re-engineering processes implementation: A review of literature

The paper is a review of critical success factors for Business Re-Engineering Processes Implementation. Business process re-engineering (BPR) has emerged as a crucial strategy for organizations seeking to adapt to rapidly changing business environments and improve operational efficiency. Successful implementation of BPR projects is contingent upon a comprehensive understanding of the critical success factors (CSFs) that drive their effectiveness. This literature review aims to explore and synthesize the key CSFs for business re-engineering processes implementation by analyzing a broad range of academic and industry sources. The review begins by providing an overview of the evolution of BPR, its rationale, and its significance in contemporary business contexts. Subsequently, it delves into an extensive examination of the literature to identify and categorize the CSFs that have been consistently highlighted in research and practical applications. These CSFs encompass various dimensions, including organizational culture, leadership commitment, stakeholder involvement, change management, information technology adoption, and performance measurement. Furthermore, the review explores the interrelationships and dependencies among these CSFs, highlighting the need for a holistic and integrated approach to BPR implementation. It also discusses the evolving role of technology, especially emerging trends such as artificial intelligence and robotic process automation, in influencing the success of BPR initiatives. By synthesizing and synthesizing the existing literature, this review aims to provide valuable insights for practitioners and researchers involved in BPR projects. It underscores the importance of considering multiple CSFs and their interactions when planning and executing BPR initiatives, offering a foundation for developing effective strategies and frameworks to maximize the likelihood of successful outcomes. Additionally, it identifies gaps in the literature and suggests directions for future research, encouraging further exploration of this critical area in the field of business process management.

A Multidimensional Model of the New Work Environment in the Digital Age to Increase a Company’s Performance and Competitiveness

The purpose of the paper is to develop a multidimensional model of the new work environment in the digital age to increase a company’s performance and competitiveness in VUCA (volatility, uncertainty, complexity, and ambiguity) business environment. The multidimensional model covers the implementation of an agile work environment through the prism of using artificial intelligence technology to increase company’s performance and competitiveness. Researched determined multidimensional aspects for successful implementation of work environment in the digital age are, therefore (1) drivers for shifting towards agility, (2) implementation of agile leadership, (3) implementation of an agile work environment, (4) implementation of AI technology in work environment, (5) company’s performance, (6) competitiveness. The main survey involved randomly selected 473 medium-sized and large companies in Slovenia. Structural equation modelling was used for statistical data analysis. The results show that drivers for shifting towards agility have a positive effect on implementation of agile leadership. Also, results show that implementation of agile leadership and implementation of AI technology in work environment have a positive effect on implementation of an agile work environment. Moreover, results show that implementation of an agile work environment has positive effect on company’s performance and competitiveness. The paper highlights the important multidimensional aspects of the successful implementation of an agile work environment to increase the company’s performance and competitiveness. Also, our results will contribute to the proper implementation of the work environment in the digital age and give owners or top managers a broad insight into the various aspects that must be considered in their business governance in today’s rapidly changing business environment.

IMPACT OF STRATEGIC CAPABILITIES AND ORGANIZATIONAL STRUCTURE ON ENTREPRENEURSHIP IN PALESTINIAN TELECOMMUNICATIONS COMPANIES

Palestine Telecommunications Companies (PTC) have experienced significant growth in recent years. The industry has become increasingly competitive, forcing companies to develop strategic capabilities to succeed in the market. In addition, the organizational structure of these companies plays a critical role in their ability to innovate and pursue entrepreneurial activities. However, this study aims to examines the impact of strategic capabilities and organizational structure on entrepreneurship in PTC. The study used a quantitative approach, using a survey design to gather data from 187 executives in the PTC industry. The participants’ perceptions of strategic capabilities, organizational structure, and entrepreneurship was collected through close-ended questions using a five-point Likert scale. SmartPLS4 was used to analyze the data. The results indicate that both strategic capabilities and organizational structure positively impact entrepreneurship and the competitive advantage in PTCs. Furthermore, entrepreneurship has a mediator effect between the variables. These findings highlight the importance of fostering an entrepreneurial culture in PTCs to leverage strategic capabilities and organizational structure for the sustained competitive advantage. This study has significant implications for managers and policymakers in the telecommunications industry, emphasizing the need to support innovation and creativity. However, this paper provides evidence that the integration of entrepreneurship into the strategic management process can enhance a company’s ability to compete and succeed in a rapidly changing business environment. As such, policymakers and industry practitioners should pay more attention to foster an entrepreneurial mindset and creating an environment that supports innovation and creativity in Palestinian telecommunications companies. Keywords: Strategic Capabilities, Entrepreneurship, Organizational Structure, Palestinian Telecommunications Companies DOI： https://doi.org/10.35741/issn.0258-2724.58.3.46

생산최적화활동과 IT투자활동이 재무성과에 미치는 영향

This study aims to empirically verify the influence of production optimization activities and IT investment activities on the financial performance of sales and net profit in a rapidly changing business environment. In order to, achieve the aim, this research was analyzed using the secondary data, the workplace panel survey data. Production optimization activities and IT investment had a significant positive effect on both sales and net profit. On the other hand, significant results could not be confirmed for the moderating effect according to the difference in communication activity types. It was suggested that standardization, simplification, and automation of the production process are needed simultaneously as practical measures to improve production efficiency and financial performance, and that continuous investment in the IT field is needed.

CURRENT REALITIES OF STRATEGIC PLANNING OF ENTERPRISES

The article examines the modern realities of strategic planning of enterprises. It has been found that in today’s increasingly competitive global corporate market, strategic planning has become a valuable tool for businesses as they strive to balance the diverse interests of key stakeholders—shareholders, employees, customers, and community members. Strategic plans can provide a framework for solving a number of external and internal problems. Developing a robust strategy to address changing market conditions and opportunities, an increasingly global environment, and changing government policies is essential to sustaining resilience. Accordingly, a strategic plan should help create a holistic vision of how to adapt to a changing business environment while addressing challenges related to cash flow, capital availability, and succession planning. These factors help determine the strategic success of an enterprise and influence the ability to ultimately achieve timely value realization. If it is thoughtfully developed and involves all key stakeholders, a strategic plan will bring enormous benefits to owners and managers, contributing to the growth of the enterprise and the creation of value for shareholders in the near term. Ultimately, it will also enable the business and family to manage inevitable ownership transitions or realize shareholder value by providing an optimal range of recapitalization or liquidity strategies.Strategic management is defined as the analysis, evaluation, continuous planning and monitoring of all the needs of an enterprise to achieve its goals and objectives. Effective strategic planning has many advantages. It makes enterprises aware of future opportunities and challenges, anticipate risks and understand what resources will be needed to seize opportunities and overcome strategic challenges. Strategic planning also provides a sense of direction and orients them around a shared mission. It creates standards and accountability. Strategic planning can improve operational plans and efficiency. It also helps organizations limit the time spent on crisis management when they are responding to unexpected changes that they failed to anticipate and prepare for.

PENGARUH BRAND ATTACHMENT TERHADAP REPURCHASE INTENTION PADA KOPI KENANGAN DENGAN BRAND COMMITMENT DAN BRAND LOYALTY SEBAGAI VARIABEL INTERVENING

Kopi Kenangan became the first Foods and Beverages Retail Unicorn from Southeast Asia, during the COVID-19 pandemic, the company learned to quickly adapt to changing business environments and challenges by implementing new strategies, so as to be able to serve 40 million cups of coffee in the last 12 months. This study aims to determine whether Brand Attachment through Brand Commitment and Brand Loyalty has an effect on Repurchase Intention of Kopi Kenangan. The research method is quantitative with the independent variable is Brand Attachment, the intervening variables are Brand Commitment and Brand Loyalty, and the dependent variable is Repurchase Intention. The population in this study were Kopi Kenangan consumers with a sample of 200 respondents. Data collection was carried out using a questionnaire which was distributed using a Google form. Data processing uses the SEM method by utilizing the SmartPLS application which consists of outer model analysis, inner model analysis and hypothesis testing. The results showed that Brand Attachment through Brand Commitment and Brand Loyalty indirectly affected Repurchase Intention on Kopi Kenangan, but Brand Attachment directly did not affect affected Repurchase Intention on Kopi Kenangan.

Challenges in transfer pricing: A concept of safe harbours for financial transactions

Abstract The OECD project against BEPS has brought and initiated many changes – among others, in the OECD Transfer Pricing Guidelines. To react and respond to changes in the current business environment, a new chapter for transfer pricing in financial transactions has also been introduced (namely chapter X). This step can be considered beneficial. However, meeting all the requirements for setting a transfer price for financial transactions seems to remain a very demanding and expensive task. Furthermore, the OECD Transfer Pricing Guidelines have been of a general nature rather than providing responses to all potential problems and circumstances – they provide fundamental ideas and principles. Thus, the potential to apply a simplified procedure for setting a transfer price (even for financial transactions) can be viewed as desirable, both for taxpayers and tax authorities. The aim of the paper is linked to this idea – to present the results of a comparative study dealing with the rules for safe harbours for financial transactions (namely loans) as established worldwide, providing a summary of existing concepts and systematized criteria for a safe harbour to be considered.

The role of agribusiness extension in the changing business environment due to the COVID-19 pandemic, socio-economic and political conditions

The Covid-19 pandemic, changes in global political and security conditions, and climate change have brought significant changes to the food production, consumption, and supply chain. The impact of these changes is transmitted to the farm level. Farmers face not only production risk and price risk, but also the risk of market changes triggered by changes in business orientation on fulfilling consumer pReferences. The purpose of this study is to identify changes in the socio-economic and political environment and their impact on farmers and farming, as well as to analyse the responses needed for extension to remain effective and relevant in carrying out its role. This study employed a descriptive comparative approach. Qualitative data obtained through literature studies based on journal articles. This study found that changes in the business environment not only affect farmers and farming but also the food agribusiness system from upstream to downstream. The conventional extension approach is increasingly turning into a more flexible approach and is not only oriented to the needs of farmers but also considers the needs or pReferences of consumers. Extension is no longer a domain or carried out by public institutions but also by private institutions or companies as well. The results of this study are useful for the formulation of public policies in the field of extension as part of responding to changes in the busiess environment, climate change, and information technology.

Upaya Mewujudkan Produktivitas Kerja Berdasarkan Jaminan Keselamatan dan Kesehatan Kerja yang Diterima Karyawan, Efisiensi Kerja dan Perilaku Inovatif

Work productivity has become a key focus in an increasingly complex and changing business environment. The process of measuring and improving work productivity has become a pressing challenge for organizations in various sectors. This study explains the underlying issues of work productivity and the associated managerial implications. Analysis is conducted on factors that affect productivity, including occupational health and safety, work efficiency and innovative behavior. A quantitative approach was used in this study. The data collected came from a specially designed survey administered to employees. The number of employees who responded to the questionnaire was in accordance with the sample requirement, which was 130 employees from the production division only. These employees are employees of companies located in Sidoarjo City. The data that has been collected will then be analyzed using multiple linear regression analysis. Through SPSS version 26, the proof of data analysis can be seen. From the analysis that has been done, it can be concluded that occupational safety and health insurance and work efficiency and innovative behavior have a significant positive effect on work productivity. Occupational safety and health (K3) and work efficiency are the main pillars in creating a productive and sustainable work environment

Sustainable strategic investment decision-making practices in UK companies: The influence of governance mechanisms on synergy between industry 4.0 and circular economy

Prior studies articulate the growing synergy between Industry 4.0 (I4.0) technologies and CE techniques. However, the literature lacks empirical evidence regarding boardrooms' commitment to implementing these technological domains through sustainable strategic investment decision-making practices (SSIDMP). This paper uses computer-aided textual analysis to explore the current trend of SSIDMP in UK companies. Our debate draws on data from UK companies, FTSEE ALL Share, over the period (2012−2021). We develop proxies for I4.0 technologies and CE techniques to examine the synergy between I4.0 technologies and CE techniques and the influence of this synergy on companies' financial performance. The findings reveal the vital role the organizational ambidexterity plays in the synergy between I4.0 technologies and CE techniques through exploring and exploiting technological techniques and mechanisms to cope with changing business environment. Our empirical study explores the impact of governance mechanisms on the relationships between SSIDMP, I4.0 technologies, CE techniques, and companies' financial performance. Findings support that synergy between these two domains is the key determinant of sustainable value creation and sustainable organizational performance. The synergy between I4.0 technologies and CE techniques significantly impact SSIDMP and companies' financial performance, though the level of the synergy varies according to industry sectors. Furthermore, our analysis shows that governance mechanisms (ESG, board compositions, risk management, internal audit) strengthen the relationships between these two domains and companies' performance.

The evolving state of food security in Nigeria amidst the COVID-19 pandemic – A review

Abstract The COVID-19 pandemic has brought about a variety of challenges to Nigeria, the most populous country in Africa, especially in the area of health protection, food security, and availability. Food security is a concept that encompasses the availability and accessibility of safe nutritious foods to everyone and is dependent on the maintenance of the food supply chain. The food security status of Nigeria, a developing country that previously was problematic, has been worsened by the COVID-19 pandemic through several fronts including the disruption of the food supply chain, reduced agricultural output as a result of the global lockdown, and lack of access to agricultural facilities and products, such as fertilisers, manpower, and restrictive policies. These factors have generally resulted in food scarcity and price inflations, which increasingly threaten the political and economic stability of households within the country, leading to an insecure future for the people. This review examines how the food security status of households in Nigeria has been affected by the COVID-19 pandemic and the effects of the lockdown and changing business environment on farmers’ food production operations and marketing activities. It further evaluates the pandemics impacts on agro-industrial projects and governments’ efforts in making the agriculture sector more sustainable. Strategies to improve local food production, accessibility and availability, through interventions, including financial incentives/grants to farmers, the revival of moribund agricultural agencies, and encouraging local production and processing of foods are explored.

Organizational Adaption to External Change in Tourism: The Case of the Fred Harvey Company

Organizational adaptations are strategic choices organizations make to adapt to changed market conditions. Those adaptations come about through internal change or through mergers and acquisitions. The Fred Harvey Company changed and adapted exceptionally well to serve customers in more than one industry and in rapidly changing business environments. The company was first linked to the Atchison, Topeka and the Santa Fe Railway and as westward traffic moved from railroads to highways, it was linked to U. S. Route 66. The company supplied eating places--Harvey Houses—and newsstands along the railroad and Route 66. The railroad changed when Route 66 was developed, and Route 66 changed with the Interstate Highway system, and the Harvey Company changed with them.

Do calling-oriented employees take charge in organizations? The role of supervisor close monitoring, intrinsic motivation, and organizational commitment

Despite a surge in the research on callings, the field of callings requires a better understanding of the workplace implications of callings for employee outcomes. In particular, one important question remains open as to whether calling-oriented employees are willing to engage in proactive, taking charge behaviors to initiate desirable changes in the workplace. Addressing this question is of great importance, as taking charge behaviors are essential to incorporate organizational effectiveness into the current rapidly changing business environment. To explore this question, we draw on a novel theoretical lens of the proactive motivation framework to explicate the functioning of employee calling in that space. Specifically, we propose callings as a distal antecedent of taking charge, while theorizing intrinsic motivation and affective organizational commitment as two distinct motivation bases that link callings to taking charge. Further, we examine supervisor close monitoring as a crucial contingency of these relationships. Our analyses of time-lagged survey data from 188 supervisor-employee dyads revealed that intrinsic motivation and affective commitment connect the relationship between callings and taking charge with a comparable magnitude. Interestingly, our analysis demonstrated that close monitoring weakens the calling-intrinsic motivation relationship but not the calling-affective commitment relationship. Our study deepens the current understanding of the workplace implications of callings by suggesting that calling-oriented employees can serve as proactive change agents in the workplace and by suggesting that, despite being self-directed, their motivation and behaviors are still vulnerable to adverse supervisory influence.

Review of Strategic Agility: A Holistic Framework for Fresh Produce Supply Chain Disruptions

The influence of the rapidly changing business environment due to the COVID-19 global pandemic presents an important organizational challenge to fresh produce export supply chains in developing countries such as Ghana. Such an inimical supply chain problem highlights the relevance of supply chain agility as a potent methodological framework to measure, monitor and evaluate these challenges in stable as well as turbulent times. This review paper focuses on the applicability of a framework for Supply Chain Agility as a methodological framework in stable (pre-COVID-19) versus turbulent (COVID-19) business environments. We argue and propose that Supply Chain Agility Framework is a holistic framework which is efficacious in both stable and unstable supply chain environments. This is amply supported by the central plank of our proposition that the Supply Chain Agility Framework offers an adaptable tool that can serve as a panacea to fresh produce supply chain challenges not only in a stable (pre-COVID-19) business environment but also effective and applicable in a turbulent business environment, such as experienced during the COVID-19 pandemic. The implications of this proposition for the fresh produce export supply chain industry and relevant stakeholders are duly presented.

Environmental Management Systems and Manufacturing Companies' Performance in Nigeria

Purpose: The purpose of this study was to investigate the environmental management systems and environmental performance of manufacturing firms in Abuja City, Nigeria.
 Methodology: The study adopted a longitudinal research design that was descriptive in nature. Stratified sampling technique was used to select a sample size of 88 respondents who were employees of the manufacturing firms in Abuja City, Nigeria. Structured questionnaires with open and closed ended questions were used as instruments of data collection.
 Findings: The findings of this study revealed that there was a positive statistical correlation between green manufacturing systems, pollution prevention systems, management systems and pollution control systems and environmental performance of manufacturing firms in Abuja City, Nigeria.
 Conclusion: The study concluded that environmental management systems have become drivers of competitive organizations in the changing business environment.
 Recommendation: The study recommended that manufacturing companies should ensure that employees are trained on ISO 14001 regulations, appropriate technology is adopted and industry partnership is based on best environmental practices rather than on the sole revenues gain objective.

Green Manufacturing: Green Dynamic Capabilities and Absorptive Capacity Matter

Various environmental issues have attracted the attention of many parties, including manufacturing companies. This encourages manufacturing companies to implement green manufacturing into their business operations. Implementation of green manufacturing is not easy to do. For this reason, companies must have the capability to be able to adapt to the rapidly changing business environment. This paper discusses how the green dynamic capability affects the implementation of green manufacturing in manufacturing companies. The study was conducted on 34 manufacturing companies regardless of their industrial sector. The research model describes the relationship between green manufacturing, green dynamic capabilities, and absorptive capacity. The results of model testing (measurement models and structural models) showed that green dynamic capability has a positive and significant effect on green manufacturing practices in manufacturing companies. Absorptive capacity directly affects green dynamic capability, and indirectly affects green manufacturing. This shows that the green dynamic capability plays an important role in the implementation of green manufacturing and must be a concern for the company’s management, especially in the implementation of green manufacturing.
 Keywords: Green Manufacturing, Green Dynamic, Environmental Issue.

Analysis of Organizational Behavioural Issues and Challenges at Procter & Gamble

Organisations today are confronted with rapid internal and external environmental changes that have a substantial impact on organizational structure, employment relationships, and corporate performance levels. Not only does this scenario increase the external environment’s uncertainty and difficulty, but it also affects how individuals of an organization interact with one another. To preserve corporate and social sustainability, the changing business environment caused by globalization and technology improvements necessitates a larger variety of workforce composition, flexibility, and agility of an organization, as well as an increase in complexity and capabilities. Using Procter & Gamble (P&G) as an example, this article analyses organisational behavioural concerns and challenges impacting the management of people, groups, and structures in order to increase organisational performance.