Changing Business Environment Research Articles

Implementation, Evaluation and Control Strategies for Performance of Nzoia Sugar Company in Kenya

The performance of public owned organizations especially those in the sugar sector has been fluctuating mainly because of the various changes in business environment. The performance of Nzoia Sugar Company in Kenya has been characterized by a decline in the market share and unhappy customers arising from the shortage of the company’s products. The company management has put in place implementation, evaluation and control of strategies to mitigate the downward trend. The objective was to establish the effect of implementation of strategy, evaluation of strategy and control of strategy on performance of Nzoia Sugar Company in Kenya. The study was anchored on balanced scorecard theory. The findings of the study benefit policy makers, management in the sugar industry and other organizations. The study used descriptive research design, target population and a census of 32 comprising senior and middle-level managers. A structured questionnaire was used to collect data. Descriptive statistics such as mean and standard deviation were used to analyze collected data. Multiple regression analysis was used to evaluate the influence of the independent variables on the dependent variable. The study findings were presented using tables. The regression analysis revealed that a unit increase in implementation of strategy, evaluation of strategy and control of strategy lead to positive units change in performance at various magnitudes less than one. The strategies had significant effect on performance. In conclusion there is need for managers to pay careful attention to the implementation of strategies that enhance the performance. It is recommended that management should invest in implementation, evaluation and control process. Keywords: Implementation, Evaluation. Control, Strategies, Performance, Company DOI: 10.7176/EJBM/14-12-04 Publication date: June 30 th 2022

Market innovations driving competitive advantage in MSMEs

In the constantly changing business environment, Micro, Small and Medium Enterprises (MSMEs) have to resort to various strategies to strive the competition. The diversity and complexity of the competitive markets necessitate the MSMEs to have a clear vision to achieve efficiency and flexibility. In several cases, MSMEs zero down to owning some kind of innovations. Globally, innovation has been categorised in four types, namely, ‘product, process, marketing and organizational’. Among these, the focus of this paper is on marketing innovation and how much literature supports its impact on attaining competitive advantage. This paper tries to broadly provide a holistic perspective on how impactful are marketing innovations in seeking competitive advantage through marketing capabilities based on extensive literature review. Significant research has been done in the fields of marketing practices, capabilities, newer trends and role of innovations in achieving competitive advantage. Marketing innovation has widely been defined as constituting modifications in product placement, promotion, pricing and packaging (Deshpandé, Farley, &Webster, 1993; Hurley & Hult, 1998; OECD, 2005). The discussion takes into account the imperative factor driving market innovations based on resource-based view i.e., market capability and studies its relation to the determinants of competitive advantage.

Shaping the Future of Health Data: A Scenario-Based Approach.

The European health care industry faces massive changes which impose new challenges on its stakeholders. In this paper, we present the results of a market-based analysis for upcoming changes in the European health care industry and what this specifically means for issues corresponding to data. Scenarios are a common tool to explain and analyze future changes in business environments. This method was used in a series of workshops together with an interdisciplinary group of experts. Ten individual scenarios represent potential futures with distinctive subsets of data landscapes. Their assessment shows that the expected future of health data is still rather unclear, while desired changes are quite distinct. The Health Data Scenarios offer a comprehensive framework for analyzing future data-driven developments in the health care industry.

Improving the Measurement of a Company’s Performance Effectiveness

In a constantly changing business environment, the company’s management faces new challenges, and the complexity of management increases. In this regard, since the end of the 1980th, after a criticism wave of traditional (financial) methods, performance measurement systems (PMS) have come to the fore, offering ideas and technologies based on a combination of both, financial and non-financial indicators, which are focused on the strategic line of a company.The purpose of this academic paper is to develop new PMS that combine existing systems’ advantages, as well as eliminating their inherent limitations.Therefore, in the course of the study, the main limitations of existing performance measurement systems were identified, and a new PMS was proposed, which had a number of advantages over the known ones. This system is focused on maximizing the company’s value, describes contribution to the change in the value of each main business process, product and client, which allows one to get away from aggregation and evaluate performance at each level, as well as turn a set of useful, but somewhat heterogeneous indicators into a system with a clear target.This PMS is based on the concepts of value-based management (Value Based Management, VBM), strategic management (Strategic Management, SA), process management (Business Process Management, BPM), as well as on the provisions of the performance management concept (Performance Management, PM).The developed performance measurement system is purposefully based on well-known categories and indicators to increase its practical significance. This PMS will help management to understand what the business is made of, what processes affect the efficiency of its work within the company. After all, the expediency of an adequate performance measurement for the successful functioning of the company in modern conditions is very significant, since it can help management both, to achieve the desired results and also to see the reserves for improving efficiency.

A Case Study on Dell Technologies and its CEO, Michael Dell

No matter how the business environment changes, competition will always exist, and ethics and responsibility should not be ignored to achieve comparable success. As a leader who has twice led Dell to success, Michael Dell deserves to make people think more, so this article takes Dell as a case to analyze the leadership style of its founder Michael Dell and the followership style of his subordinates, as well as how these influence dell's attitude towards ethics and responsibility.

Methodology for Developing an Adaptive Business Plan

Any firm has to adapt to a changing business environment to operate successfully. In the 21st century, they have to work actively on adaptive business plans and have some long-term plans, as the degree of uncertainty in the business environment increases steadily while the adaptive competencies help the firm to develop a competitive advantage over the environment. We can talk a lot to describe the business landscape of the last decade, however the only thing that can be said with certainty is that during this period there have never been certain, obvious radical changes. As business cycles and processes in the world become more rapidly accelerated, we can more strongly criticize the traditional strategic planning process, which offers small alternatives of business scenarios and focuses less on radical changes in market demand. Against this background, we want to focus on the importance of developing an adaptive business plan and discuss its development methodology for firms. Keywords: Adaptation, Business Plan, Adaptive Management, Adaptive Measures Complex, Competitive Advantage.

Risks and Controls in a Changing Business Environment: Global Transportation Facility and Concerns About Missing Revenues*

This case examines the effects of privatization in the aviation industry, specifically as it concerns an airport referred to as the Global Transportation Facility (GTF). In a deregulated environment, it is important for airports to ensure that all revenues earned from aircraft landings and passenger use of its terminal buildings are identified, billed, and collected. This will be a concern to users of financial information, including those holding corporate debt and government authorities, as well as the airport's senior management, board of directors and other stakeholders. Your role as the head of internal audit at GTF is to determine whether aviation-related billings are complete and accurate. You are also concerned about the consequences of errors in reported revenues, including how to identify these and assess their impact. Risques et contrôles dans un environnement d'affaires en mutation : aéroport « Global Transportation Facility » et préoccupations à l’égard des recettes manquantes La présente étude de cas se penche sur les effets de la privatisation dans l'industrie de l'aviation, plus précisément dans un aéroport appelé ici Global Transportation Facility. Dans un contexte déréglementé, il est important que les aéroports s'assurent que toutes les recettes tirées de l'atterrissage des avions et de l'utilisation de l'aérogare par les passagers sont identifiées, facturées et perçues. Cet enjeu touche les utilisateurs de l'information financière, y compris les institutions qui détiennent les créances de l'aéroport et les instances gouvernementales, ainsi que la haute direction, le conseil d'administration et les autres parties prenantes de l'aéroport. Votre rôle à titre de responsable de l'audit interne consiste à déterminer si la facturation des services liés à l'aviation est complète et exacte. Vous êtes également préoccupé par les conséquences des erreurs dans les revenus déclarés, et notamment la façon de cerner ces erreurs et d’évaluer leur impact.

Exploring Best Practices for Innovation Management in a Rapidly Changing Business Environment

This thesis investigates successful strategies for managing invention in a dynamic business setting. This research uses a combination of qualitative interviews with business leaders and supervisors and a quantitative survey of company staff. The qualitative data identifies several best practices for innovation management, including continuous scanning of the external environment, cross-functional collaboration and teamwork, agility and flexibility, clear innovation strategy and vision, risk-taking and experimentation, resource allocation and management, leadership support and commitment, customer-focused innovation, and embracing digital transformation. The quantitative survey data reveals that while the majority of organizations have formal innovation strategies and cultures that encourage innovation, there is room for improvement in terms of having formal innovation processes, dedicated resources, formal metrics, and collaborations with external partners. Moreover, the results of the poll show a causal link between innovative management practices and particular leadership traits. Leaders who communicate a clear vision for innovation, encourage risk-taking and experimentation, allocate resources for innovation, provide support and guidance, and encourage cross-functional collaboration are more likely to drive successful innovation management practices within their organizations. Insights and suggestions for organizations to enhance their innovation management practices and maintain competitiveness in a dynamic business climate are provided by this study's results. Organizations can effectively navigate the innovation challenges and achieve sustainable growth and success if they adopt the identified best practices and exhibit the proper leadership behaviors.

Types of Personality and Stress Coping Approaches (contrasting FCI and CWC Organisations)

Today the world is changing with-changing business environment .To keep a pace with this changing business environment one has to go through physical, mental, emotional and social stress. It has become important for an individual and the organization to keep them free from stress. For this purpose different kind of stress coping strategies are available. A comparative analysis was conducted on FCI and CWC organaisation to test stress coping approaches used by different personality type. For this t test, ANOVA and correlation analysis was conducted on a sample of 70 employees each from FCI and CWC organizations. Results indicated that extrovert people used emotional social support, planning as their stress coping strategies while as they rejected other strategies in both the organizations. Agreeableness type of personality people use mental disengagement, active coping, religious coping but both organizations do not use positive reinterpretation and growth, humor, restraint, emotional social support, acceptance, planning as coping strategy. The other types of personality consciousness, neuroticism, openness use the same kind of stress coping strategies in both the organization.

Trend Hunters E-Shop for Trending Fashion

The main goal of the study is to learn the importance of e-shop in today's competitive market. How will offline retailers survive? And how to provide best services?How to present better product in less prize and maintain relationship among the existing customers. In today’s time it is very advantageous to provide your services and product online along with the offline services it will add excellence to a business, because a lot of people prefer shopping online and Online shopping is a common trend among the customers. However, with the advent of the Internet, the condition of the shopkeepers has become miserable. In addition, a new trend of online shopping has emerged in the last years, which offers a lot of possibilities for buying items and products. People are getting used to this trend; however, some people still go to the store to make purchases. The study of this topic will help in to understand the effect of online stores and it will also help in developing and understanding of the different frameworks and models related to E-shop and the advantage of developing an E-shop for a real store, outlets. Now days due to changing business environment it is very important to respond the need of customers in most effective manner. If you’re existing customers want to view your shop online to have easy and quick access to your products and services.

Maintaining Organizational Sustaincapability Towards Management Innovation Using Strategic Foresight

This study aims to examine the role of Strategic foresight and its capability to support the development of management innovation processes within organizations. This study uses a narrative literature review approach involving potential interactions of three main topics, namely: strategic foresight, management innovation, and management cognition. The research findings explain that every individual has a character from birth to being able to see the future. Then the capability for foresight in this organization must be developed and continuously maintained by both stakeholders in the organization's management and employees. Before implementing a foiresight strategy, it is necessary to understand in depth managerial cognition as the basis for its application. Furthermore, the development of a well-managed strategic foresight will become a management innovation so that it can maintain the sustaincapability of the organization. This conceptual paper lays a foundation that can be used as further research in determining strategic foresight abilities in relation to managerial dynamic abilities. The results of this paper can be used by organizations with a long history of facing challenges in capturing the challenges of changing business environment in the future.

Трансформация роли потребителя в эволюции маркетинга

The article features the changes in business environment that bring about new approaches to marketing. The role of the consumer undergoes various transformations as a result of the marketing evolution. This study focuses on the consumer as a holistic person, their role in the activities of an enterprise, and the evolution of marketing concepts. The author interprets the concept of relationship marketing and the approach to consumers as participants in joint creativity. The research relied on the data from the official website of the Lugansk Pipe Fittings Plant, which describes its self-positioning, corporate values, etc. The author believes that vision, values, environmental awareness, and consumer safety of the company can affect the worldview of the consumer. This approach strengthens the credibility and strategic future of the company. The article will be of interest to specialists in marketing, management, and sustainable development.

Process innovation capability in less-structured business processes: a systematic literature review

PurposeBuilding process innovation capability (PIC) is becoming increasingly important to keep pace with changing business environments and emerging technological opportunities. However, the literature on process innovation capability (PIC) is still very broad and does not consistently reflect today's reality that is becoming increasingly complicated and knowledge-intensive, leading to more organizational needs for supporting less-structured business processes (LSBP).Design/methodology/approachBased on a systematic literature review (SLR), the authors provide evidence for this under-investigated subject by consolidating organizational capabilities for managing PIC in LSBP. The authors screened 1,083 and identified only 26 peer-reviewed articles that simultaneously encompass process innovation and LSBP.FindingsThe authors explain which LSBP types are typically addressed, and in which sectors. The authors categorize research avenues, best practices and a framework that links PIC to performance outcomes by also considering business environments. Three theories (i.e. resource-based view, dynamic capabilities and sociotechnical theory) help to underpin the six empirically observed capabilities along three pillars (i.e. people, process and technology).Research limitations/implicationsBesides a research agenda, the authors offer a conceptual framework for PIC in LSBP as a reference to guide scholars and practitioners.Practical implicationsThe authors offer best practices, as derived from the literature.Originality/valueThis is the first SLR for PIC in LSBP, consolidating and categorizing the PIC-LSBP characteristics. Due to few studies on the subject, this work contributes to a deeper understanding of the PICs needed for LSBP to obtain the desired performance outcomes.

Dynamic Analysis and Fabrication of Single Screw Conveyor Machine

The design and development of machine tools play a vital role in the current economic growth. It facilitates the reduction of manufacturing cost coping with a quickly changing business environment. During the design of the machine tool, the dynamic characteristics need to be calibrated for avoiding uncertainties. This paper investigates the design, dynamic characteristics, and development of a single screw conveyor machine which is used to blend waste plastic material with catalysts. The conveyor machine model is created based on the idea developed from filament extruder machine with Pro-E solid modelling software. Its multibody dynamic analysis was carried out for the selected operational requirements in the ADAMS View. It shows that when the conveyor screw operated above the velocity of 42 m/s, the deformation will occur at a maximum value of 4.23 mm. The rigid body dynamic was carried out in ANSYS to solve the performance forecasting problems at their design stage. The dynamic analysis results were suggested to improve the conveying machine and driving mechanisms design parameters.

An Inclusive Leadership Framework to Foster Employee Creativity in the Healthcare Sector: The Role of Psychological Safety and Polychronicity.

Creativity at the level of employees is of utmost importance for every sector of an economy, with no exception to a healthcare system. The reason why employee creativity is important lies in the fact that employees have profound knowledge of their job and thus can serve as a source of meaningful innovation in an organization. Research shows that employee creativity is largely dependent on leadership. Corporate leaders significantly influence subordinates’ behavior. However, with the economic development, globalization, and changing business environment, a traditional authoritative leadership style can no longer be effective in understanding employees’ psychological needs to foster their creative behavior. In this regard, the role of inclusive leadership as an effective organizational management strategy was recently discussed in literature at different levels. It was also stated that an inclusive leader could foster employee creativity. However, such relationships in healthcare systems of developing economies have largely remained under-explored previously. We explored employee creativity in a healthcare context of a developing economy in an inclusive leadership framework to bridge such knowledge gaps. We also investigated the mediating roles of psychological safety and polychronicity in the above-stated relationship. We collected the data from hospital employees through a questionnaire (paper–pencil method). A hypothetical model was developed, which was tested through structural equation modeling in AMOS. Based upon the statistical outcomes, we found that an inclusive leadership style in a hospital can significantly foster employee creativity, whereas psychological safety and polychronicity mediate this relationship. This study offers different theoretical and practical insights, especially to a healthcare system. An important finding was that an inclusive leader can motivate the followers to be more creative. This finding is significant for a hospital because creative employees provide a hospital with a solid competitive base.

Managerial ties: How much do they matter for organizational agility?

In a constantly changing business environment, firms are becoming increasingly dependent on organizational agility for survival and success. Although existing studies have recognized the importance of political and business ties in responding to market changes, few have examined how these ties affect organizational agility nor compared their relative effectiveness in shaping organizational agility. Drawing on social exchange theory, this study examines the comparative impacts of political and business ties on organizational agility and the contingent roles of competition intensity and legal enforceability. Using two-wave survey data collected from three top executives in 132 Chinese firms, we find business ties have a stronger positive effect on organizational agility than political ties. Competition intensity strengthens the positive impact of political ties but weakens the positive impact of business ties on organizational agility, which reduces the impact difference of political and business ties. Legal enforceability strengthens the positive impact of political ties but does not significantly influence the positive impact of business ties, which mitigates the impact difference of political and business ties. Accordingly, our findings provide new insights for the strategic utilization of political and business ties to achieve organizational agility in emerging economies.

Relevance of agile change management in a dynamic business environment

Conventional change management approaches are increasingly reaching their limits in a business environment characterised by volatility, dynamics, and complexity. In other contexts, attempts are often made to counter these aspects with agile approaches. The extent to which this also makes sense in the field of change management has not been frequently investigated to date. The aim of this paper is therefore to examine the extent to which agile change management contributes to the successful handling of changes in a dynamic business environment. For this purpose, 30 interviews were conducted with change management and organisational development experts from various small, medium-sized, and large companies in Germany. The data obtained was primarily analysed qualitatively, using a structuring content analysis according to Mayring (2015). The results of the research show that change management can strongly benefit from agility. In particular, this is the case with respect to self-organisation, iteration, and experimentation. Agile change management makes sense even in more conventional, hierarchical organisations. However, there are indeed organisation-, project- or context-specific characteristics that speak particularly in favour of the use of agile change management approaches or make more conventional change management approaches seem more reasonable. Often, it is even advisable to use a clever mixture of both.

Facilitating the Malaysian Manufacturing Sector in Readiness for Industry 4.0

The manufacturing sector of Malaysia is an essential part of its economic system. Malaysia holds a remarkable position in the global market through the exports of manufacturing products. However, this sector faces challenges such as organizations’ capability to innovate due to rapid technological and business environment changes in line with Industry 4.0. These challenges may prevent manufacturing firms from embracing Industry 4.0 and thrive in their businesses. Therefore, this research aims to identify the role of organizational practices such as Knowledge Oriented Leadership, Electronic Human Resource Management, and Decentralized Organization Structure in support of Organization Innovation to prepare manufacturing firms for Industry 4.0. A quantitative method was applied to 218 samples collected from Malaysian manufacturing firms. The results of this research are interesting for keen researchers and helpful for decision-makers and practitioners to successfully pave the way for Industry 4.0 implementation in manufacturing firms by developing innovation capabilities.

A LITERATURE REVIEW ON DIMENSIONS OF BRAND EQUITY IN THE INSURANCE INDUSTRY OF SAUDI ARABIA

Branding is generally regarded as a unique approach for brand equity that enhances the corporate reputation of stakeholders. Insurance firms acknowledge and handle goods in a changing business environment as important assets. Brand is a system with multi-dimensional principles that satisfy consumers’ wants, expectations and needs, including practical and emotional elements. One of the branding goals is to distinguish the brand from its unique and valued characteristics. If the brand is an important element in every marketing effort, it must be recognized that its equity definition is appropriate. Insurance companies attempt to maintain brand resources and other methods by means of suitable brand distinctiveness. This paper attempts to describe the aspects of specialized literature. Since Saudi insurance is such a recent phenomenon, it has not undergone a critical analysis of whether it fulfils the requirements for takaful insurance or not.

무역원활화를 위한 전자무역서비스 개선방안

As the world trade environment and business environment change, the importance of trade facilitation is being emphasized. In this regard, Korea has also been striving to facilitate trade through the establishment of e-trade services. However, the e-trade service for trade facilitation still does not fully perform its functions due to overlapping roles, inadequacy of laws and systems, and lack of international standards. Therefore, the improvement plan of e-trade service for trade facilitation is considered as follows. First, it is necessary to establish a prompt and efficient operating system by unifying the entities that promote trade facilitation. Second, an international single-window system must be established through the advancement of UNI-PASS. Third, it is necessary to establish an integrated support service by reconfiguring the role of uTradeHub. Through this, it is necessary to enhance the service utilization of trading companies for trade facilitation.