Changing Business Environment Research Articles

Impact of Dynamic Capabilities on Business Performance of SMEs during an Economic Crisis with reference to Western Province

The current economic crisis which is experiencing has a significant impact on the development and performance of most SMEs, making their existence even more susceptible. In the face of the current economic crisis, Dynamic capabilities (DCs) can be utilized as a survival mechanism to help organizations to increase the value of their businesses, get competitive advantages, and increase business performance in a changing business environment. Therefore, the purpose of this paper is to analyze the impact of three dimensions of DCs which are sensing, seizing, and reconfiguring on the business performance of SMEs during this economic crisis. In addition, this study investigates how DCs could impact business performance through Information technology (IT) adoption as a moderator. The quantitative approach is adopted, where a cross sectional survey was utilized to collect primary data from SMEs. Findings of the study based on a sample of 380 SMEs in western province and stratified random sampling method was utilized to select participants. Structural Equation Modeling (SEM) was used to analyze data by using Smart PLS 4 software. The results revealed that only sensing and reconfiguring capabilities have a significant impact on SMEs’ performance and IT adoption moderates the relationship between DCs and business performance during the economic crisis. Therefore, this study provides a great effort to quantitatively investigate the impact of three procedures of DCs and the moderate effect of IT adoption during the economic crisis. Furthermore, it conveys a better understanding of how SMEs could deploy their DCs to ensure higher levels of performance in periods of crisis. The results of this research will pave a path for them to successfully take effective strategic decision on the SMEs. Keywords: Business Performance, Dynamic Capabilities, Economic Crisis, and SME.

The Impact of Corporate Social Responsibility Implementation on Enterprises’ Financial Performance—Evidence from Chinese Listed Companies

Along with the constant changes in the current business environment, more and more enterprises have recognised the importance of Corporate Social Responsibility (CSR). Considering that profit maximisation is the eternal pursuit of enterprises and that some studies have already linked the financial performance of enterprises and their implementation of social responsibility together, this study will try to further explore the impact of social responsibility initiatives on enterprises’ financial performance within the context of emerging economy. Given that enterprises’ sustainable development is closely related to their implementation of CSR, an improvement in their corresponding financial performance due to effective social responsibility practices can incentivise enterprises to take part in CSR initiatives aimed at enhancing the sustainable development of society and the environment. Through using the panel data from Chinese Listed Companies, this research finds that responsibility’s implementation is positively related with enterprises’ financial performance, and that relationship is non-linear. Additionally, as a critical regulatory institution, government fails to function as a mediator within the above-mentioned relationship based on the robust empirical test. At the same time, the fulfilment of CSR can not be achieved at the expense of profit maximisation. The non-linear relationship between CSR and enterprises’ financial performance (CFP) demonstrated in this research suggests that the financial performance of a firm can be optimised when it moderately fulfils its social responsibility. This finding offers a potential optimal strategy for the sustainable development of the firm as well as society. Also, the role of government deserves further exploration and utilisation, considering its significant linkages with enterprises and social development.

Models of Strategic Management in Smes in The Period of The Covid-19 Pandemic in Metropolitan Lima

Purpose: The purpose of this research was to understand the adaptation of strategic management models by SMEs in Metropolitan Lima during the period of the COVID-19 pandemic. Theoretical Framework: Organizations must be agile and flexible to survive in a constantly changing business environment. During the pandemic, SMEs were forced to rethink their strategic management models, adopting a more authentic and adaptive approach. The ability to rethink strategies, diversify products and services, and embrace digitalization became crucial. Strategic management, an essential component of management models, encompasses the formulation, implementation, and evaluation of key decisions for organizations to achieve their objectives in a competitive and dynamic environment. This involves looking both internally at the organization's structure and operations and externally, evaluating opportunities and threats. Strategic management is how organizations not only face challenges, but also take advantage of emerging opportunities. Methodology: It was framed in the interpretative paradigm and supported by the hermeneutic methodology. Results and Discussion: The fundamental findings of the study relate to four primary categories and identify emerging facets within the expressions of social actors. This study highlights how, in times of crisis, resilience and creativity emerge as crucial qualities for success. It also highlights that adaptability and re-evaluation of previous approaches become essential for navigating turbulent terrain. Practical and social implication: The importance of understanding how strategies evolved to sustain the operation and generate valuable knowledge is highlighted. Originality and value: Originality and value lie in the depth of contextual analysis and the identification of concrete strategies that could inspire other companies in similar situations.

The Sinking of HBOS: An Invaluable Lesson to the Contemporary Banking and Finance Sector

HBOS plc, a UK-based financial institution, initially appeared as a remarkable success story in the banking industry. 2001 marked a pivotal moment when Halifax and Bank of Scotland joined forces to create HBOS. For the subsequent six years, it achieved substantial double-digit profits, solidifying its position. In 2007, the bank’s market capitalization soared to an impressive £40 billion. While HBOS garnered accolades from analysts and brokers for its apparent success, beneath the surface, its business model proved susceptible to economic fluctuations due to what was identified as a flawed strategy and inadequate risk management practices. These critical shortcomings left the bank ill-prepared to navigate the global financial crisis. In October 2008, HBOS faced a severe crisis and ultimately merged with Lloyds Banking Group. This case delves into the intricacies of HBOS’s strategy, internal and external governance issues and the changing business environment. It serves as an invaluable tool for students seeking to comprehend the factors that led to the company’s downfall. Several pressing questions are raised, including the role of accounting improprieties, the effectiveness of the risk management system, internal governance and the inability of the board and auditors to foresee the impending challenges within the company.

Socio-psychological aspects of accounting and analytical profession

It is difficult to overestimate the role and importance of economic services of economic entities, since all existing activities are reflected in economic indicators that require collection, registration, monitoring, processing and analysis. In addition, without the management of financial and economic activities, it is impossible to prepare adequate justifications for strategic and operational plans for the development of an economic entity. The leading role in this process belongs to the head and administrative and managerial personnel who make final management decisions. But they can implement this at the proper level only if they use accounting information and conduct its in-depth analysis. Only highly professional specialists in the field of accounting and analytical technologies can provide the necessary data for making adequate and effective management decisions, the role and importance of which remain at the highest level in the changing socio-economic and business environment. The object of the study is an accounting and analytical profession characterized by both certain socio-psychological difficulties and opportunities for long–term career success.

A Curriculum Study: Accounting Analytics Using Python

The purpose of this study is to highlight the necessity of incorporating AI technology into the accounting sector and to provide a curriculum that allows university students to practice using data science in accounting. As the accounting work environment evolves along with technological advancements, employers, including big accounting firms, are looking for people with technical skills in addition to accounting knowledge. Accounting major students should be prepared for a changing business environment by learning technical skills in combination with accounting knowledge. This necessitates a modification in the accounting curriculum to reflect the dynamic accounting environment driven by technological innovation. However, it doesn't appear that the accounting curriculum has changed much to keep up with these modern changes, and there don't appear to be many case studies that expressly combine accounting and data science. As a part of this endeavor, this paper offers a few concrete examples for the integration of accounting and Python. Python via Anaconda is utilized for the cases in this study, and a creative but beginner-friendly programming is applied to each case. As a result, in this study, a few Python-integrated accounting challenges comprising fundamental financial accounting concepts are addressed. These are only a few examples, but they might aid in introducing data science fundamentals, demonstrating how data science is used in accounting, and encouraging further research and development of deep learning.

What’s next: Evergreen Marine Corp. after the Suez Canal incident

Research methodology This case study was built from secondary data such as news articles and videos. Several drafts of the case study with teaching note were tested in classroom settings and shared at a case writing conference. The case was revised based on feedback from students and roundtable discussions from the conference. Case overview/synopsis “What’s next: Ever Given after the Suez Canal incident (Evergreen Marine Corporation in, 2022)” explores the situation of the firm Evergreen Marine Corporation, a world-leading cargo shipping company headquartered in Taiwan, and its efforts to deal with challenges stemming from a pandemic and the global supply chain transition. The case provides background on the latest changes in global business environments, the Suez Canal Incident stemming from the grounding of Ever Given and firm-specific information, which would help students to understand the context affecting Evergreen Marine Corporation’s (EMC) strategic decisions. The case enables students to evaluate EMC’s overall position and to analyze the actions that they can take to deal with these challenges in a dynamic global environment. Complexity academic level This case would be appropriate for a course in strategy or international business, especially with the topic of international supply chain management.

IMPLEMENTASI AGILE DEVELOPMENT BERBASIS WEB BASED PADA SISTEM INVENTORY

The inventory management at the Aeng store causes errors in the recognition of revenue and inventory calculation, making process inefficient and incurring losses. The purpose of this research is to analyze the needs required by Aeng Stores as well as design the application of the inventory system of good that can facilitate in carrying out the recording of sales and purchase reports, recording inventory reports, and recording supplier data. The test method used is the Black Box, which tests the software based on its external appearance and functionality, not the source code of the program. The results of this study show that applying Agile Development Method to inventory management brings many benefits. These include making inventory management processes more efficient, improving inventory accuracy, reducing excessive costs, and increasing responsiveness in a rapidly changing business environment. The conclusions derived from the tests that have been carried out, using Agile Development Method can be a fairly effective and efficient way for the Aeng Store to manage store inventory.

Effect of Employee Retention on Organizational Performance in Selected Manufacturing Companies in Calabar, Cross River State, Nigeria

Increasing competitiveness has influenced the retention of knowledge-based human resources in manufacturing firms for sustainable performance in a changing business environment. This study examined effective work environments, compensation and benefits, and training and development. The study was guided by research questions, hypotheses, and Job-Embeddedness Theory. A cross-sectional research design was used for data collection with a sample size 329 staff. A content validity on the instrument was carried out and reliability was through the use of Cronbach Alpha. The study adopted the linearity and multicollinearity tests to ascertain data accuracy, while correlational analysis was used to test the hypotheses at 0.01 level of significance. Findings revealed that an effective work environment relates to organizational performance (r =.354 (35.4%), n= 322, p>0.05). The second hypothesis shows compensation and benefit relates to organizational performance (r =.577 (57.7%), n= 322, p>0.05). The findings on the third hypothesis reveal that training and development relate to organizational performance (r =.743 (74.3%), n= 322, p>0.05). The study concludes that improved organizational performance significantly depends on HR policies and practices to retain the workforce in a volatile and knowledge-driven environment. The study recommends among other things that management should review the policy framework of the firms to ensure that the work environment appeals to the confidence of the employees and encourages teamwork and collaboration.

Synergizing Solar Cell Technology, Radio Wave Communication, AI Integration, and Business Opportunities: A Comprehensive Review

We are at a turning point in our quest for more sustainable energy options, improved connection, and technical innovation as solar cell technology, radio wave communication, artificial intelligence (AI), and economic potential come together. This study explores the complex interactions between these integrated technologies, examining all of their facets, from practical difficulties to ethical issues to future opportunities. The impact of artificial intelligence (AI) on solar energy management is first discussed in the study, with a focus on how AI-driven systems improve energy storage, maximize energy capture, and adjust to changing weather. Simultaneously, the function of AI in radio wave communication networks is elucidated, encompassing spectrum management, cyber security, and quality of service. The foundation of the burgeoning smart grid and Internet of Things (IoT) age is the integration of AI with radio waves and solar cells, which promotes energy efficiency and system resilience while permitting fine-grained control over energy use. As these technologies merge, the conversation moves to the business sector, where it examines market trends and investment prospects. These integrated systems are becoming more and more necessary as sustainability, connectedness, and energy efficiency open up new opportunities for businesses, investments, and environmentally friendly real estate development. Green financing and solar-as-a-service (SaaS) are two examples of sustainable business concepts that are becoming increasingly important in the changing business environment. These encouraging advancements are not without difficulties, though. Significant obstacles include those related to technical integration, data protection, regulatory compliance, environmental effect, and the digital divide. As technology develops, moral issues become increasingly important.

INTANGIBLE ASSETS AND THEIR IMPACT ON THE BALANCE SHEET OF IRAQI BANKS

The most significant changes in the modern business environment during the 1990s have been the increasing importance of intangible elements of knowledge, technology, individual skills, and other factors that have become the main source of wealth and income and the enhancement of the competitive advantages of the business to survive and grow. This has been accompanied by a higher market value of the business than double its book value, especially in knowledge-intensive sectors such as communications, medicines, and software. This is due to the current accounting model's inadequate treatment of intangible assets, which are recognized as assets only when purchased from third parties. The research aims to attempt to provide an accounting framework for intangible assets that avoids previous deficiencies and criticisms to increase the effectiveness of financial reporting in light of contemporary developments in the business environment by assessing the accounting treatment of intangible assets purchased in the standards issued.

The Influence of Strategic Entrepreneurship on Competitive Advantage in CV Mutiara

Technological change, dynamic global markets, and intense competition characterize the current business era. The development of Strategic Entrepreneurship highlights the evolution of business and entrepreneurship theories, shifting the paradigm from focusing only on the creation of new businesses towards the integration of entrepreneurship into existing business strategies. This study aims to analyze the impact and contribution of Strategic Entrepreneurship to the sustainability of competitive advantage in modern businesses faced with dynamic market challenges. The method used in this research is descriptive qualitative. This research uses CV Mutiara as a concrete case study. The results show that the implementation of Strategic Entrepreneurship has a significant positive impact on organizational adaptation and sustainability in a constantly changing business environment. By focusing not only on new venture creation but also on long-term strategic planning, organizations can achieve sustainable competitive advantage. CV Mutiara applies the principles of Strategic Entrepreneurship, including innovative strategy development, external collaboration, and enhancing internal innovation capabilities.

A review of U.S. management accounting evolution: Investigating shifts in tools and methodologies in light of national business dynamics

This study provides a comprehensive analysis of the evolution of management accounting in the United States, focusing on the shifts in tools, methodologies, and the influence of national business dynamics. The primary objective was to understand how management accounting practices have adapted to technological advancements, economic changes, and regulatory developments. Utilizing a systematic literature review process, the study involved identifying relevant literature through databases like Scopus, Web of Science, and Google Scholar, employing keywords related to management accounting evolution. The selection of sources was based on predefined inclusion and exclusion criteria, emphasizing relevance, quality, and methodological rigor. Content and thematic analysis was used to interpret findings from the qualitative data. Key findings revealed a significant evolution from traditional cost accounting methods to strategic, data-driven approaches, influenced by technological advancements and changing business environments. The study identified a shift towards integrated, predictive, and data-driven management accounting practices, with a growing focus on sustainability and digitalization. The impact of technological, economic, and regulatory factors was found to be profound, necessitating continuous adaptation in management accounting practices. The study concludes that management accounting in the U.S. is highly dynamic, responding effectively to technological and economic changes. Recommendations for future research and practice include embracing technological advancements, adapting to economic and regulatory changes, focusing on sustainability, enhancing education and training, and encouraging collaborative research. This study underscores the necessity for ongoing adaptation and innovation in management accounting to maintain relevance in a rapidly evolving business landscape.

A Critical Analysis of Risk Auditing: An Auditor's Approach

This research aims to critically analyze risk auditing, focusing on the auditor's approach, to uncover complexities and challenges inherent in contemporary auditing practices. The study synthesizes findings from a literature review, discussing implications for auditors, organizations, and future research. The multifaceted role of auditors in risk auditing involves identifying, assessing, and managing risks across financial and operational domains, ensuring organizational objectives and assets' safeguarding. Auditors must possess diverse skills, expertise, and judgment to navigate subjective risk assessment, particularly in evaluating emerging risks and complex financial instruments. Moreover, auditors must adopt a proactive approach to risk management, anticipating potential risks and providing timely recommendations. However, challenges such as the lack of standardized risk assessment practices, the rapid pace of business environment changes, and integrating emerging technologies into risk auditing persist. These challenges underscore the need for ongoing innovation and improvement in risk auditing practices. Empirical findings suggest a positive association between risk disclosures' quality and firm performance, emphasizing governance mechanisms' importance in risk management. By addressing challenges and collaborating with stakeholders, auditors can enhance risk management practices' effectiveness, safeguarding organizational objectives and assets in dynamic business environments.

Entrepreneurial innovations and trends: A global review: Examining emerging trends, challenges, and opportunities in the field of entrepreneurship, with a focus on how technology and globalization are shaping new business ventures

This scholarly inquiry delves into the intricate dynamics of entrepreneurship in the global economy, focusing on the pivotal roles of technological advancements and globalization. The study's primary aim is to unravel the complexities and evolving nature of entrepreneurial success in the 21st century, examining how technology and global integration shape new business ventures. Employing a qualitative and theoretical approach, the research methodically synthesizes a wide array of literature, offering a comprehensive analysis of the current entrepreneurial landscape. The findings of the study reveal a multifaceted entrepreneurial ecosystem, significantly influenced by digital transformation and global market integration. It highlights the emergence of social entrepreneurship and the critical role of technological innovations in developing new business models. The research also uncovers the dual nature of globalization, presenting both opportunities and challenges for entrepreneurs. A sector-specific analysis further elucidates the variations in entrepreneurial growth and decline, emphasizing the significance of geographic factors in entrepreneurial outcomes. Conclusively, the study underscores the necessity for entrepreneurs to adapt to rapidly changing business environments, advocating for strategic innovation and adaptability as essential tools for sustainability and growth. It posits that the future of entrepreneurship will be characterized by increased digitalization, innovation, and a focus on sustainable and inclusive growth. Policy implications suggest the need for inclusive, technology-integrated strategies to support entrepreneurial ventures. Recommendations for future entrepreneurs centre on embracing digitalization, fostering an innovative mindset, and leveraging global opportunities while navigating associated challenges.

Contemporary Business Environment and Contemporary Techniques

The current business environment is experiencing rapid change influenced by technology, globalization, and changes in consumer behavior. A deep understanding of this environment is important for a company's adaptation. An important development driving changes in the contemporary business environment at large is the growth of markets and international trade. Today's contemporary business is characterized by increasingly fierce competition, rapid innovation, and constant change. To face this increasingly complex business environment, many contemporary techniques are used by companies, such as information technology, risk management, and supply chain management. These techniques help companies to stay competitive and adapt to the rapidly changing business environment. This research is expected to provide a better understanding of the contemporary business environment and contemporary techniques used in business today.

Controlling-based organizational and economic mechanism of enterprise activity planning

In this article, the authors prove how introducing a control system for enterprises will, firstly, increase the level of business controllability and reduce the time for making managerial decisions. Secondly, it will help to control the company's assets and manage costs more effectively. Thirdly, it will significantly increase the profitability of joint-stock companies and ensure risk control and risk mitigation to increase the investment attractiveness of the business. Due to the variety of external and internal factors influencing the organization, there cannot be a one-size-fits-all recommendation for establishing a controlling function within a company. Empirical research shows that the most important influencing factors in controlling an organization are the size of the company and the dynamics of changes in the external business environment. In small enterprises, the chief accountant typically performs the controlling function, whose responsibilities include analytical accounting and budgeting. In larger enterprises, specialized departments are created with various tasks related to coordinating management processes and control. The relationship between control functions and environmental dynamics is quite interesting. In companies operating in a stable environment, the controller is seen as a recorder. In a limited variability of the external environment, the controller performs the role of a navigator, providing the company's departments with the most rational planning and control tools. In a turbulent environment, the number of problems that need to be addressed increases significantly. In such a situation, the controller emerges as an innovator who directly participates in problem-solving. In essence, controlling does not necessarily require a separate controller position. Instead, it implies the presence of specific tasks that the company's executives or management can perform. Initially, it is necessary to determine whether the controlling functions can be distributed among existing departments or if creating an independent controlling department is better.

Sustainability of changes in executive coaching: managing partner’s perspective

ABSTRACT This study is relevant as organisations navigate increasingly intricate transformations where sustainability is critical. It explores the sustainability of changes through executive coaching with managing partners during these renewal periods, often imbued with potential challenges and corporate divergences. Addresses a substantial gap in the literature and provides insights to drive enduring, significant changes. It employs a qualitative approach with semi-structured interviews with ten service sector managing partners (former coachees). It examines four thematic dimensions: interrelationship, process, business strategies, and coaching experience, offering a holistic view of your impact. Conduct rigorous reflective analyses before and after each step, facilitated by NVivo software, with external validation. Additionally, the study interprets its findings within transformative learning, as discussed in key works on the subject. In an ever-evolving business landscape of challenges, executive coaching emerges as an indicator, showcasing its capacity to promote renewals within organisations. This comprehensive study contributes to theoretical knowledge and actionable insights for practitioners and business leaders who seek to facilitate learning and transformative changes in multifaceted and dynamic business environments. Among the key findings, the influence of concepts used in coaching approaches and contextual factors on the impact of changes and sustainability stands out.

Recent Trends in Auditing by Uncovering the Digital Age and Best Practices for Efficiency and Accuracy

This article discusses recent developments in the field of auditing amid the rapidly evolving digital era. In the face of digital transformation, best practices in auditing to achieve higher efficiency and accuracy are the main focus. The discussion includes the application of the latest technology, audit strategies that are adaptive to digital changes, and steps to ensure accuracy in the audit process. Considering the challenges and opportunities that arise in the digital age, this article offers insight for audit professionals looking to strengthen their practices in the face of a dynamically changing business environment.

Akuntansi Manajemen Di Era Digital

Rapid technological advances have brought challenges and opportunities along with the development of management accounting in corporate transformation. To maximize the contribution of management accounting, companies need to utilize technology. This article, based on a literature study from various sources, concludes that digitalization has changed the accounting management landscape through process automation, increased data accessibility, system integration, more sophisticated data analysis, solid data security, and the need for the development of skills and roles in the accounting profession . In the era of digitalization, the role of accountants is also changing, requiring the development of skills in information technology. Management accounting in the digital era is experiencing a significant transformation, influenced by advances in information technology and developments in the digital world. The following are some of the main aspects that show how management accounting adapts to the digital era: Management Accounting Information Systems (SIAM), Cloud Computing, Big Data and Data Analysis, IoT (Internet of Things), Automation and Artificial Intelligence, E-commerce Era, Cyber ​​Security , Mobile Computing and Blockchain. With the adoption of this technology, management accounting in the digital era can provide faster, more accurate and relevant information, thereby enabling better decision making in a rapidly changing business environment.