Business Competitive Advantage Research Articles

Analysis of the Influence of Entrepreneurial Orientation on Internasional Business Networking and Competitive Advantage, and Its Impact on the Marketing Performance of SMEs (A Study on SMEs in Kampung Embong Arab, Malang City)

This study aims to analyze the influence of entrepreneurial orientation on business networking and Competitive Advantage and its impact on the export-import performance of Micro, Small, and Medium Enterprises (MSMEs) in the Arab Embong Village, Malang City. A survey method was employed to collect data from MSMEs operating in the village. Hypothesis testing was conducted using multiple regression analysis. The results show that entrepreneurial orientation has a significant influence on the formation of business networks. Furthermore, it was found that business networking has a positive and significant impact on the export-import performance of MSMEs. The implications of these findings underscore the importance of developing entrepreneurial orientation and fostering business networking for MSMEs to enhance their export-import performance. Therefore, it is recommended that the government and relevant institutions provide support and guidance to MSMEs in developing entrepreneurial skills and expanding their business networks.

“Customer engagement and advertising : Looking forward and backward”

This report presents the interaction between consumer strategy and advertising, examines the history and future projections of advertising practices. . Technological advances, cultural shifts, and changes in consumer preferences have led to changes in consumer engagement and advertising. By analyzing backwards from the previous period, from daily media to digital platforms, important information about good ideas, problems encountered and lessons are written down. The future direction of advertising includes technologies such as artificial intelligence, virtual reality and experience. Expected changes in consumer behavior,regulatory environment and new business opportunities are explored to provide businesses and marketers with a positive outlook. Advise clients on collaboration and advertising strategies in a complex and competitive market. Methodology/Design: The researcher conducted interviews using a qualitative method to gather information about the Customer engagement and advertising: looking forward and backward. Through these interviews, the study aims to identify current challenges and opportunities, using evidence to inform future recommendations. Research: Research shows that the advertisements are structured in a way that it engages the customer with considering and analysing traditional trends and future success. Research participant highlighted the issues, trends, solutions of customer’s engagement and advertising also with navigating the old traditional strategies and future ones. This report also shows the values that are added through advertisements and ultimately results in increased sales for the business Value/Value: The report provides values such as information, innovation, change, ethics, sustainability,longterm relationships, competitive advantage and customer satisfaction for businesses to improve their customer engagement and advertising strategies. focused approach to advertising and customer engagement. By understanding and meeting the needs and preferences of your target audience, businesses cancreate effective and relevant marketing plans.

Navigating external knowledge sources: impacts on business model innovation and competitive advantage in start-ups

ABSTRACT Business model innovation (BMI) is considered a requirement for start-ups that source knowledge externally to counter resource constraints. We test the inter-relationships among two sources (research and support actors) of external knowledge (EKa), BMI, and competitive advantage (CA). We find that EK from research and support actors positively contributes to BMI, which positively affects CA. However, while EK from research actors has a positive relationship with CA, we find that EK from support actors has a negative direct effect on CA. This article thus highlights that not all EK helps start-ups in building a CA, thereby contributing to the literature on BMI, knowledge-based view, and entrepreneurial ecosystems in the specific context of start-ups. Practitioners can advance their understanding of the impact of different sources of EK (research and support actors) on start-ups. This paper advises start-up founders and managers to focus their resources on gaining knowledge from research actors.

Environmental optimization and operational efficiency: Analysing the integration of life cycle assessment (LCA) into ERP systems in Moroccan companies

During the 2000s, the synergy between Life Cycle Assessment (LCA) and Enterprise Resource Planning (ERP) systems represented a major step forward in the integration of environmental sustainability into basic business processes. This study set out to investigate how Moroccan enterprises incorporate LCA into their ERP systems, aiming to understand the impact on environmental sustainability and operational efficiency. Through a methodical empirical study, involving a survey distributed to 220 companies across Morocco, the study garnered 95 qualified responses. These responses, from companies that own and operate ERP, were analysed using SPSS V25.0 for statistical and correlation analysis. The findings highlighted that the fusion of LCA into ERP systems fosters a more sustainable and efficient framework for business operations among Moroccan companies. Such integration not only secures a competitive advantage for businesses but also contributes to global sustainability goals. The analysis verified that Moroccan companies, by weaving LCA into their ERP systems, can refine their decision-making by weighing environmental alongside economic and operational considerations. This integrated approach underpins a holistic sustainability framework, helping companies align their activities with environmental targets more effectively. Moreover, the survey illuminated a pronounced correlation between the company size and the propensity for integrating LCA into ERP systems, with larger firms showing a more marked inclination towards this synergy compared to their smaller counterparts. Consequently, integrating LCA with ERP systems is revealed as a pivotal strategy for Moroccan businesses, equipping them with a mechanism to embed sustainability into their operational and strategic planning.

A Hybrid Approach Based on Consensus Decision Making for Green Supplier Selection in Automotive Industry

With increased global commerce, businesses must manage their supply chains while taking into account not only costs but also environmental implications. The decision-making of Green Supplier Selection (GSS) is a strategic priority for companies to survive in challenging market conditions and to effectively and sustainably manage their supply chains in the increasingly polluted and resource-depleted world. Environmental sustainability can be enhanced with the appropriate criteria when choosing green suppliers. Based on these motivations, it is necessary to determine the correct criteria, classify the chosen criteria and employ an effective evaluation method in the GSS process. In particular, evaluating each criterion at its own level is of strategic importance. In this paper, the GSS model, handled by group decision-making, is constructed with multi-sub-criteria to increase the competitive advantage of businesses in challenging market conditions for the purpose of ensuring a sustainable future. A novel hybrid methodology of the Interval Type-2 Fuzzy (IT2F) Analytical Hierarchy Process (AHP) and IT2F Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is presented for the GSS model to deal with uncertainty. This study provides decision-makers with an effective method that performs fuzzy calculations at all steps until a solution is found, especially in areas that may have a complex hierarchical structure, such as the automotive industry. In the proposed method, unlike most studies in the literature, if a criterion has sub-criteria (or multi-sub-criteria) in the hierarchy considered, each criterion is evaluated with other criteria at its own level, without the need for all other criteria to have sub-criteria (or multi-sub-criteria). The effectiveness of the proposed method has been demonstrated by testing it with an application taken from the automotive industry with a complex-structured multi-level hierarchy. Additionally, sensitivity analysis has been conducted to assess the impact of changes in subjective input by means of scenarios.

Stock Price Forecasting Using Machine Learning and Deep Learning Algorithms: A Case Study for the Aviation Industry

With technological advances, humans are constantly generating data through various electronic devices and sensors, and this data is stored in digital environments. A vast amount of data has served as a valuable asset that has facilitated the rise and progression of novel fields, including data science, artificial intelligence (AI), deep learning (DL), and the internet of things (IoT). Effectively managing and analyzing data provides a competitive advantage for modern businesses. The objective of this study is to forecast the stock price of Turkish Airlines (THY), a publicly traded corporation listed on Borsa Istanbul. In order to achieve the intended objective, the utilization of machine learning approaches like SVM and XGBoost, as well as the deep learning algorithm Long Short-Term Memory (LSTM), are used. The models are trained over a time period including daily data from January 4, 2010 to September 5, 2023. The forecast performance of the models is evaluated by comparing the actual and predicted stock prices and the model with the lowest error is identified. The proposed models' performances are assessed using the RMSE, MSE, MAE, and R2 error statistics. According to the results obtained, it is determined that the LSTM model has lower error coefficients than SVM and XGBoost models and gives the best performance.

Analysis of Business Strategy, Market Orientation and Innovation Capability On Competitive Advantage Through PT Abc's Firm Performance

Companies today are increasingly recognizing the importance of adopting business and innovation strategies to stay competitive in an ever-changing marketplace. This study aims to examine the relationship between business strategy, market orientation, innovation capabilities, company performance, and competitive advantage in the context of PT ABC, a construction and public procurement company established in 2018. The research method used is quantitative, with preliminary stages, observation, filling out questionnaires, data collection, data processing, and validity tests. Data is obtained through surveys and analyzed to examine the effect of these variables on the company's competitive advantage. The results showed that business strategy has a positive effect on the company's innovation capabilities and performance. Market orientation also has a positive effect on company performance. However, market orientation does not have a significant effect on innovation capabilities, and innovation capabilities have no effect on competitive advantage. These findings provide important insights for PT ABC and other companies in developing business strategies, strengthening market orientation, and enhancing innovation capabilities to achieve competitive advantage in competitive markets.

Digital technologies and carbon neutrality goals: An in-depth investigation of drivers, barriers, and risk mitigation strategies

Prior research has primarily concentrated on non-digital and process-oriented methods for achieving carbon neutrality (CN) in the context of mitigating climate change (CC), while the potential of digital technology (DT) has hardly been investigated. This study addresses this gap by answering four research questions: How are firms utilizing DT to achieve CN? What drives the adoption of DT for achieving CN? What are the barriers that prevent the adoption of DT for achieving CN? What risk mitigation strategies can be adopted by firms to overcome these barriers? An inductive method using open-ended essays has been adopted to gather data from firms that have already implemented DT for CN. The findings revealed four distinct dimensions. Utilization of DT for CN includes enhancing business value, managing one's carbon footprint, enabling smart solutions, and enhancing efficiency. The drivers for adopting DT for CN included driving business growth, external pressures, competitive advantage, and environmental consciousness. Key barriers included financial barriers, technological barriers, human resource barriers, and external barriers. Risk mitigation strategies included pre-implementation strategies, detailed planning and evaluation, ensuring employees' buy-in and readiness, and external stakeholder engagement. This study offers a broad-based foundation for designing DT strategies for achieving CN.

Leveraging Business Intelligence Systems for Enhanced Corporate Competitiveness: Strategy and Evolution

This study contextualizes the transformative role of Business Intelligence (BI) over the past two decades, emphasizing its impact on business strategy and competitive advantage. Employing a dual-method approach, it integrates a bibliometric analysis using SciMAT with a qualitative examination of six key articles from the Web of Science (WoS), analyzed through the Gioia methodology, focusing on BI and competitiveness. The aim is to examine the metamorphosis of Business Intelligence (BI) and how it has evolved from a traditionally supporting role to a central strategic player in shaping corporate strategy and business competitive advantage over the past two decades. It discusses the overall transformation of BI and provides an in-depth examination of the specific ways in which Business Intelligence tools have redefined the landscape in contemporary business practices. Key findings reveal BI’s pivotal role in enhancing knowledge management, innovation, and marketing capabilities. Challenges in BI implementation, such as the necessity for skilled personnel and adaptability to swift technological shifts, are also highlighted. Results advocate for a dynamic BI approach, adaptable to market trends and technological evolutions. The research demonstrates that BI tools, especially when integrated with technologies like AI, IoT, and machine learning, significantly enhances decision making and efficiency in socio–technical and management systems, leading to a paradigm shift in handling complex systems and adapting to changing environments.

Role of Strategic Marketing on Competitive Advantage for E-Commerce Business in India: An Empirical Study

Strategic competitive strategy equips executives with practical knowledge, new skills, and tools to translate strategic ideas into actionable plans. Within strategic research, competitive research focuses on gathering information about rival firms, a crucial approach to assess their activities and potential threats to financial strength. Despite the rapid development of electronic commerce, many e-commerce businesses are still in the investment and brand-building phase, struggling to show a profit. Strategic marketing plays a pivotal role in attaining organizational goals and objectives, aiding in the identification and implementation of new opportunities. The decisions made by management can make significant effect on the performance of e-commerce businesses in India. Strategic marketing management is a defined as a process that involves identifying company goals, creating effective strategies, and implementing them to achieve those goals. A sample of 233 respondents was collected from people working in e-commerce businesses in India. The variables that identify the role of Strategic Marketing on Competitive Advantage for E-Commerce Business in India are Innovation and Adaptability, Brand and Market Positioning, Customer Segmentation, and Competitive Pricing and Promotions.

Maximising competitive advantage: the role of strategic business analytics framework in business strategies

ABSTRACT Strategic Business Analytics (SBA) is a powerful tool that enables businesses to navigate competitive landscapes and formulate strategic decisions to achieve Competitive Advantage. This research delves into the transformative role of SBA in achieving Competitive Advantage by merging principles from Business Strategy, SBA, and Competitive Advantage, introducing a novel perspective. A comprehensive framework is developed, bridging the gap between SBA theory and practical application. A quantitative investigation in India’s Transport and Mobility sector, involving 225 decision-makers reveals that SBA tools significantly moderate and elucidate 60% of the variance in the relationship between Business Strategies and Competitive Advantage. Notably, a positive moderation impact strengthens this linkage. The study underscores the potential for organizations to enhance strategies by integrating SBA seamlessly, capitalizing on Competitive Advantage. Overall, the research provides profound insights for decision-making, execution, and organizational outcomes, positioning SBA as a catalyst for harnessing Business Strategies and gaining sustainable Competitive Advantage.

Research on Marketing Strategy Management based on Customer Retention

This paper aims to explore marketing strategy management based on customer retention to enhance a company's competitiveness in a highly competitive market. In today's business landscape, where competition is fierce and customer acquisition costs are high, customer retention has emerged as a crucial strategy for businesses to maintain profitability and achieve sustained success. Through a comprehensive literature review and empirical research, we delve into the concept of customer retention and its significance in marketing strategy management. Customer retention refers to the ability of a company to retain existing customers and foster their loyalty over time. It goes beyond simply acquiring new customers and recognizes the value of nurturing and maintaining relationships with existing ones. By examining the interrelationship between customer retention and marketing strategy management, we shed light on the various strategies and tactics that companies can employ to enhance customer retention. This includes not only focusing on the initial sale but also on building long-term customer relationships. We delve into the importance of understanding customer needs, preferences, and behaviors to develop targeted marketing approaches that resonate with customers on a personalized level. Based on the literature review and empirical research, we propose a theoretical framework for analyzing the key factors and influencers of customer retention. This framework takes into account factors such as customer satisfaction, loyalty programs, and customer service, which have been identified as critical drivers of customer retention. By understanding and addressing these factors, companies can implement effective strategies to improve customer retention rates. Ultimately, the adoption of effective customer retention strategies can lead to sustainable competitive advantages for businesses. By reducing customer churn, increasing customer loyalty, and maximizing customer lifetime value, companies can differentiate themselves in the market, increase market share, and achieve long-term profitability.

Improving the Business Model Canvas to Maintain the Sales Performance of Ornamental Fish Business Post Covid 19 Pandemic (Case Study: Ekuarium)

Ekuarium is one of the ornamental fish retail businesses that experienced a decline in sales performance after COVID 19 Pandemic. The sales performance of this Ekuarium is relatively unstable even though it has the potential to continue to grow in the future. This study aims to analyze the elements that affect the sales performance of the Ekuarium and update the Business Model Canvas to improve sales performance. The research methodology used is a qualitative method with data collection through interviews and observation. The secondary data used in this study were obtained through books, journals, news, and other reliable sources. For environmental analysis, this study utilizes PESTEL Analysis, Porter’s 5 Forces, Customer Empathy Map, and Competitor Analysis to obtain data from the external environment. Furthermore, this study uses VRIO analysis to determine the competitive advantage of businesses. The collected data is then summarized using SWOT analysis and formulated in the TOWS Matrix, Value Proposition Canvas, and Marketing Mix (4P’s). The result of the study is that there are BMC updates on the Value Proposition, Customer Relationship, Channels, Customer Segments, and Revenue Stream blocks. It is hoped that the update can maintain and improve sales performance at the Ekuarium.

Motivations for environmental social responsibility in ecuadorian banana companies

The corporate image, good business reputation, competitive advantage, business growth, and market positioning are motivational elements for environmental and social responsibility (ESR), including the organization's commitment to environmental care for its economic activity and the certifications of quality and environmental sustainability in agricultural companies. This work determined the elements of the motivation for the environmental and social responsibility of the Ecuadorian banana companies. The method applied is a quantitative approach. Under a non-experimental descriptive work design with a correlational scope, the reliability analysis was carried out with Cronbach's Alpha, giving a value of 0.98 to the 22-item instrument applied to 86 small banana companies. The final results prove a high relationship between the motivations of the banana companies and environmental social responsibility p> 0.9.

Integration of Lean Six Sigma and Ergonomics in Internal Logistics in the Supply Chain – A Systematic Literature

Today's most significant challenge facing the industry is delivering good quality products quickly, at the lowest possible cost, and flexibly in meeting demand. In terms of timing accuracy, companies must have good internal logistics, one of which is good warehouse management. Productivity in warehouses can be achieved by improving efficiency in warehouse operations, thus resulting in a faster response to customer requests. In improving productivity, it is necessary first to identify unexpected activity. This study demonstrates the importance of applying Lean Six Sigma (LSS) in Supply Chain Management (SCM), particularly internal logistics in the warehouse area, by linking the ergonomics principle with the systematic literature review approach. LSS and ergonomics are mutually complementary methodologies to meet the challenges of SCM in order to have a competitive advantage in business.

Reducing the Proportion of Single-source Procurement Management Application

Procurement plays a crucial role in modern enterprise management, where the level of procurement management has become a key component of the core competitive advantage for businesses. Enterprises need to tap into the third source of profit, which is the procurement cost of materials, and achieve the goal of increasing profits through procurement management and cost reduction. The article enumerates the reasons for the significant proportion of single-source procurement, emphasizing the theoretical basis and innovations introduced by the Materials Management Center. The establishment of a task force dedicated to addressing challenges in single-source procurement demonstrates the commitment to resolving issues in the procurement process. The article provides a detailed overview of the working methods employed by the Materials Management Center, with a special focus on compliance procurement. It describes the standardization of centralized review processes, overcoming difficulties associated with single-source procurement, and the implementation of annual plans and standardized specifications. Data reveals a consistent decline in the proportion of single-source procurement over the years, accompanied by a continuous increase in procurement efficiency and substantial savings in procurement funds.

The impact of strategic management on the competitive advantage of business: A case of the wine industry

The purpose of this research is to analyze the effect of strategic management on the competitive advantage of business. To answer this question, we interview the general managers of the three largest wine producers in Kosovo, as these companies account for over 70 percent of wine sales in Kosovo. The primary data were collected for the purpose of this research by targeting the top management directly, whereby three qualitative formal interviews took place during which the data were gathered. Two types of data were generated: fieldwork notes collected while being shown around the company premises, as well as detailed notes taken during the interviews based on interviewee observations. All three interviews were audio recorded and then transcripts, were made for later analysis, including coding in NVivo. Our results show a relevant and meaningful impact of strategic management on the competitive advantage in the wine industry sector. It is considered that the results of this work will provide a valuable contribution to the wine industry to understand the importance of the work on strategies and their competitive advantages as the main part of the wine industry, as well as the benefits that they can have and that can be included in the expansion of the international market, marketing, etc.

Innovative Activity of Spa Companies in the Slovak and Czech Republic in the Context of the COVID-19 Pandemic

In many health systems in European countries, SPA services are currently part of or a supplement to health care. Owingto their natural healing resources and long-standing traditions, the Czech Republic and Slovak Republic are important European SPA countries. In both countries, SPA tourism is also one of the most important types of tourism, and with regard to its evaluation according to the number of overnight stays and income, it constitutes a significant share of the structure of the tourism industry. One of the greatest challenges for SPA businesses was the COVID-19 pandemic, which caused travel restrictions, business closures, and a decrease in demand and revenue. The impact of the pandemic on SPA businesses in the studied countries has not yet been examined in detail. Accordingly, the aim of the present study is to evaluate the innovative activities of SPA companies in Slovakia and the Czech Republic in the context of the COVID-19 pandemic. The research sample consists of 122 SPA enterprises from both republics. Based on the results of previous research, innovation is generally perceived as an important element in the development of society, crisis management, increasing competitiveness and commercial success. The main research method for identifying and classifying the types of innovations and innovation capabilities implemented in SPA enterprises was a questionnaire survey. The results of the conducted research revealed that the origin of SPA businesses does not affect the country or how people perceive trends. The connections between the types of introduced innovations and some benefits from the introduction of innovations as well as the barriers affecting the introduction of innovations were confirmed. It follows, for example, that companies that invest in innovation processes can improve their performance and the competitiveness of their team and reduce their costs for production or service provision. From the analysis of factors related to the introduction of innovations, it emerged that the most important factors are those that have a direct impact on economic results and the competitive advantage of businesses. On the other hand, those factors related to cultural, environmental or technical aspects of innovation are less important. Despite repeated calls, not all SPA companies operating in the SPA industry in the Czech Republic and Slovak Republic participated.

Antecedents and outcomes of green information technology Adoption: Insights from an oil industry

Growing environmental concerns have led to increased demand for ‘green’ or environmentally friendly business. This has resulted in growing interest in the research of Green Information Technology (GIT). However, to date, such research has had a disproportionate emphasis on organisational antecedents while often overlooking outcomes. The current study aims at giving a better insight into the state of GIT adoption among oil companies in Sudan. If these companies were to adopt a green business model, it would significantly impact the environment given that they typically contribute significantly to environmental degradation. To this end, this study a) determines the level of awareness of GIT adoption among employees of oil companies in Sudan, b) identifies the key factors affecting the GIT adoption, c) examines the effect of training, top management support, perceived ease of use, perceived usefulness, relative advantages, and GIT behaviour on GIT adoption, and (d) examines the effect of GIT adoption on outcomes, namely business performance, competitive advantage, and process innovation. From a sample of 292 respondents, the result revealed that top management and GIT behaviour were two of the four antecedents not supported by data, thereby rendering them insignificant. Surprisingly, the survey data supports all three hypotheses that recognise a positive relationship between GIT adoption and the outcomes. This study provides important empirical evidence from oil companies that lack a green adoption policy that encourages them to consider joining the green bandwagon. The study concludes that most respondents are aware of GIT.

Business Strategy and Competitive Advantage of Companies

The purpose of this paper is to identify and describe the role of culture and strategic choices in achieving competitive advantage for companies. The research methodology uses a systematic literature review that includes international journals that discuss strategic management. From several journals, an analysis was carried out and a common thread was drawn to get a scientific understanding related to the topic and title of this article. The results of the study indicate that in doing business across countries, it is very necessary to understand the right culture so that the company's presence can be accepted by the community. Companies can achieve competitive advantage by applying the right strategy to the right industry structure or by combining strategies and resources. Companies can implement strategies as needed and do not have to imitate all strategies, for example, companies in Japan only apply Porter's two strategies, the most of which are overall cost advantages, while the second is differentiation, while others use the original Japanese strategy. Keywords: Business strategy, competitive advantage, and company