Competitive Advantage Research Articles

APPLICATION OF PRACTICE-ORIENTED EDUCATION TECHNOLOGIES IN TRAINING STUDENTS IN ENGINEERING AND SCIENCE SPECIALTIES

Modern social, economic, technical transformations make adjustments in the organization and training of personnel in engineering and natural science specialties, in the basic elements of the structure and content of educational programs. Adjustment of educational programs taking into account modern trends allows providing graduates with competitive advantages in the labor market. At the same time, the problems related to the imbalance of theoretical and practical training, the gap between the skills and competencies formed in students and the needs of the industrial sector, non-adaptation of technologies and teaching methods to the specifics of academic disciplines and expected learning outcomes are still relevant in engineering and science education. Accordingly, the aim of the work was to analyze the peculiarities of application of practice-oriented learning technologies in engineering and science training. In this work the most important learning outcomes for students and employers were determined, the main deficiencies in the skills and competencies of graduates were identified, students' satisfaction with the quality of organization and conduct of practical classes and professional practices was assessed, practice-oriented educational technologies used in teaching professional disciplines were ranked by the degree of importance. Based on the obtained results, a significant correlation between the responses of students and employees of companies/enterprises has been established, the effectiveness of the application of practice-oriented educational technologies to increase students' motivation for learning and responsibility for learning outcomes has been shown, it has been established that employees of companies/enterprises attach greater importance to learning outcomes related to the development of students' personal, social and technical skills and competencies.

Unveiling the Power of Big Data: Insights into Big Data Analytics, Applications, and Advancements

Abstract: In the era of digital transformation, the exponential growth of data from multifaceted origins has fundamentally revolutionized decision-making and strategic planning across global industries. Big Data, distinguished by its immense volume, rapid velocity, diverse variety, and critical veracity, introduces unprecedented opportunities alongside formidable challenges. This journal explores the foundational concepts, methodologies, and applications of Big Data and analytics. It delves into the types and characteristics of Big Data, examines sources and collection methods, outlines analytical steps and tools, and addresses the inherent challenges. Through comprehensive analysis, this journal aims to provide insights into leveraging Big Data for informed decision-making, innovation, and competitive advantage in various sectors.

Corporate Diversification and Divided Policy: Evidence from Pakistan Stock Exchange

The aim of this study is to analyze how corporate diversification influences dividend policy. The sample of the study is 162 non-financial sector firms in Pakistan, with the sample from 2012 to 2021. The present study is carried out based on secondary data. OLS regression analysis is used for the analysis. Overall analysis reveal that industrial diversified firms have significant impact on dividend payout ratio. The results show that companies in diversified industries have more stable and varied income streams, allowing them to routinely distribute a bigger amount of their earnings as dividends to shareholders. In contrast geographical diversified firms show significant impact on dividend yield. It indicates that enterprises with a diverse customer base and lower risk exposure have more stable cash flows and greater dividend yields. The fact is geographic diversification gives operational flexibility, risk reduction, and a competitive advantage, allowing enterprises to make consistent dividend payments. The study's findings are useful for Pakistani businesses, investors, and politicians. They emphasize the impact of dividend policy on diversification and sector-specific dynamics. These findings can be used to drive strategic decisions and policy activities targeted at improving dividend attractiveness, managing investor relations, and fostering long-term financial practices in Pakistan's business environment. This study contributes to our understanding of the impact of diversification types on firm-level dividend policy.

Application of the ESG-concept in agricultural sector of Kazakhstan: competitive advantages

The goal is to identify the possibilities of applying the SDG (Sustainable Development Goals) system for agro-industrial complex based on the analysis of its current state and adaptation to the concept of socio-economic and environmental sustainability (ESG). The methods - general scientific: comparative, statistical analysis, as well as logical and generalization, which were used as theoretical and methodological basis based on the fundamental principles of the ESG-concept, presented in the works of various foreign economic schools. Results - main problems of AIC are identified and systematized according to the UN methodology. The authors note that the proposed grouping of SDG parameters, focused on agricultural sector of Kazakhstan and connections established between them, will make it possible to create an effective, efficient model for the growth of the country’s economy and its agro-industrial production. Conclusions - the research conducted by the authors of the article shows that there is significant resource for achieving the effectiveness of the Sustainable Development Goals based on the implementation of integrated approach that ensures unity and balance of social, economic and environmental goals and their integration into corporate strategies that set out the mission and objectives of the enterprise, as well as means and methods for their implementation. The importance and advantages of the ESG-concept for overcoming the environmental crisis, reducing the anthropogenic impact on the environment, creating conditions for improving the well-being of the rural population and the level of competitiveness of agricultural producers are justified. The implementation of ESG-standards plays important role in ensuring the sustainable development of the industry, helping to improve financial performance of enterprises, providing optimal conditions for attracting investors and strengthening reputation on domestic and international markets, preserving biological and natural diversity.

Corporate Diversification and Divided Policy: Evidence from Pakistan Stock Exchange

The aim of this study is to analyze how corporate diversification influences dividend policy. The sample of the study is 162 non-financial sector firms in Pakistan, with the sample from 2012 to 2021. The present study is carried out based on secondary data. OLS regression analysis is used for the analysis. Overall analysis reveal that industrial diversified firms have significant impact on dividend payout ratio. The results show that companies in diversified industries have more stable and varied income streams, allowing them to routinely distribute a bigger amount of their earnings as dividends to shareholders. In contrast geographical diversified firms show significant impact on dividend yield. It indicates that enterprises with a diverse customer base and lower risk exposure have more stable cash flows and greater dividend yields. The fact is geographic diversification gives operational flexibility, risk reduction, and a competitive advantage, allowing enterprises to make consistent dividend payments. The study's findings are useful for Pakistani businesses, investors, and politicians. They emphasize the impact of dividend policy on diversification and sector-specific dynamics. These findings can be used to drive strategic decisions and policy activities targeted at improving dividend attractiveness, managing investor relations, and fostering long-term financial practices in Pakistan's business environment. This study contributes to our understanding of the impact of diversification types on firm-level dividend policy.

Metaverse Integration in Business: Strategies for Competitive Advantage

The integration of the metaverse into business operations presents significant opportunities for enhancing competitiveness and innovation. This comprehensive literature review explores recent research trends and findings regarding metaverse integration in various industries. By synthesizing insights from academic studies, industry reports, and case analyses, the study highlights the growing interest in leveraging immersive technologies such as virtual reality (VR) and augmented reality (AR) to redefine business strategies and gain competitive advantages. Key themes include customer engagement, product innovation, collaboration, and monetization strategies within the metaverse economy. Despite promising opportunities, challenges such as accessibility, data privacy, and interoperability standards require careful consideration. Future research should focus on understanding long-term impacts, developing effective monetization strategies, and fostering interdisciplinary collaborations for responsible and sustainable metaverse integration.

UNDERSTANDING AND ENHANCING CULTURAL INTELLIGENCE IN THE WORKPLACE

Culture is a global phenomenon that is derived from social, economic, legal, political, and religious norms, values, and traditions of the society. Culture shapes the behavior of individuals to act accordingly in different situations faced by individuals in all spheres of life. Thus, from the last few decades of the 20th century until now, organizational culture has been researched extensively. Culture exerts influence over every facet of individuals' conduct within a particular society. Consequently, individuals raised in disparate countries with varying cultural norms cultivate distinct patterns of behavior and cognition. Organizational culture is an important determinant of organizational success. The workplace environment is crafted through the interactions of employees, forming organizational culture. In the new Malaysia, the focus has shifted towards embracing the diversity of cultures and interests, necessitating attention. In an era marked by polarization and limited social mobility, cultural intelligence emerges as a crucial asset across all socioeconomic and ethnic groups. In a heterogeneous society like Malaysia, the capacity to collaborate with diverse cultures will provide disadvantaged individuals with a competitive advantage and enhance social mobility. This conceptual paper aims to investigate the Model of Cultural Intelligence, examining how employees in Malaysia embrace a diverse range of cultures in their daily activities.

토픽모델링을 활용한 직장에서의 번영감(Thriving at work) 연구동향 분석

In today’s rapidly growing and fiercely competitive knowledge-based service economy, thriving employees are essential for an organization’s competitive advantage and sustainable performance. Thriving at work refers to a psychological state in which an individual experiences both a sense of vitality and learning at work. Both dimensions work together to foster growth and development experiences that shape healthy workplaces and sustainable performance. Since the publication of an empirical paper in 2001, research on thriving at work has progressed rapidly. However, there is a lack of research that classifies the disciplines of thriving at work research in detail and identifies trends. This article explores the research trends and implications of thriving at work through topic modeling analysis. A total of 210 papers from domestic and overseas academic databases were collected and analyzed. The results reveal the emergence and growth of research on the sense of prosperity in the workplace, influenced by factors such as the digital revolution, changing work dynamics, increased mental health awareness, and the COVID-19 pandemic. The analysis identifies major keywords, topics, and their flow within the papers, highlighting the multidimensional nature of thriving at work. The results of this analysis can be used to increase understanding of trends in thriving at work research and to suggest directions for future research on thriving at work in domestic workplaces.

VALUATION OF INTANGIBLE ASSETS IN THE MANUFACTURING INDUSTRY

From an economic and psychological point of view, building and maintaining a good reputation is essential for any branch of economic activity. This work evaluated goodwill using the weighted average return on assets method, WARA. This is according to the average company in the manufacturing industry in the Czech Republic between 2016-2020. The average enterprise was created by filtering enterprises determined according to the classification of economic activities of CZ NACE from section C. These data were transformed into a single entity valued on an accounting basis, and the value of its goodwill was determined. This value was determined from an accounting point of view as the difference between the revenue value of the business plant and the asset value of the business plant. The benefit is the value of goodwill expenses in connection with strengthening the competitive advantage in the market. The limitation of this work was determining which companies should filter out from the list of accounting data completely and which to keep. Further research could examine companies in individual subgroups in the manufacturing industry and other sections of the classification of economic activities.

Impact of global catastrophes on online shoppers' behavior

The article's subject matter is the impact of global catastrophes such as the COVID-19 pandemic and Russia's military aggression against Ukraine on consumer behavior in online stores, including changes in consumer purchasing habits and the adaptation of business marketing strategies. The work aims to develop methods for analyzing changes in consumer behavior in the face of global catastrophes and to develop recommendations for businesses to effectively respond to new market challenges. The following tasks were solved in the article: Investigating the impact of the COVID-19 pandemic and war in Ukraine on consumer behavior in online stores. Identifying key factors influencing consumer decisions during crises. Analyzing current marketing strategies and tools used by companies in crisis conditions. Developing recommendations for businesses to adapt to new realities and maintain competitiveness. The following methods are used: Mathematical data processing for analyzing survey results and statistical studies. Comparative analysis to compare consumer behavior before and during the pandemic. Expert assessments to determine the effectiveness of marketing strategies. Content analysis to study trends on social media and other online platforms. The following results were obtained – formulated principles for adapting marketing strategies in the context of the COVID-19 pandemic and wartime, identified that priorities for consumers include safety, health, availability of essential goods, and cybersecurity; changes in consumer behavior were identified, with consumers becoming more price-conscious and preferring products from local manufacturers; recommendations for businesses were developed regarding effective communication with customers, increased investments in online presence, ensuring convenience of feedback, enhancing emotional connection with customers, and offering flexible payment options; methods for supporting local businesses and optimizing resource utilization by consumers were proposed, emphasizing the importance of environmental responsibility and financial resource savings; a marketing study among the clients of the company "Gorgany" was conducted, which showed that the demand for outdoor recreation products remains high even during wartime, and that consumers prefer high-quality and affordable products from domestic manufacturers. Conclusions: the application of the method of analyzing changes in consumer behavior allowed to identify key factors influencing purchasing decisions in times of global crises, this gives businesses the opportunity to timely adapt their marketing strategies and maintain competitive advantages; the use of developed recommendations contributes to increasing business efficiency in times of pandemic and wartime, thanks to these recommendations, companies can better meet the needs of consumers, improve service quality, and increase customer loyalty; optimization of product range and improvement of digital presence are key success factors in the modern market, companies that quickly respond to changes in consumer priorities and use advanced technologies to communicate with customers have more chances for success.

The Influence of Distribution Capacity, Market Penetration Capacity and Availability of Natural Resource on Competitive Advantage of Low-Carbon Hydrogen Business Development

The Influence of Distribution Capacity, Market Penetration Capacity and Availability of Natural Resource on Competitive Advantage of Low-Carbon Hydrogen Business Development

Concave and convex effects of ESG performance on corporate sustainable development: Evidence from China

Research background: Corporate sustainable development (CSD) is essential to a company's success and survival. Environmental, social, and governance (ESG) are regarded as major factors in measuring the impact of CSD. Companies that perform well in terms of ESG can maintain a competitive advantage and achieve sustainable development. Poor management of ESG performance and involvement in controversial activity can harm a company's credibility and reputation in the market, as well as negatively impact sustainable development. Purpose of the article: Drawing on the stakeholder and signaling theories, this paper investigates the curvilinear nexus between ESG performance and CSD. Methods: Empirical studies were conducted on a sample of 697 Chinese listed manufacturing firms that disclosed ESG information from 2010 to 2020, with a total of 5699 firm-year observations. Quantile regression analysis and the U-test were used to examine the curvilinear ESG-CSD relationship. This technique was supplemented by conducting instrumental variables tests and propensity score matching to address concerns relating to the potential existence of endogeneity problems. Findings & value added: The results of the quantile regression estimation confirm the concave-convex (inverted U-shaped and U-shaped) ESG-CSD relationship via the U-test. The relationships between the environmental and social components and CSD follow an inverted U-shaped or half-inverted U-shaped pattern, while the relationship between the governance component and CSD exhibits a concave-convex pattern. A concave ESG-CSD nexus is evident in environmentally sensitive industries, whereas a half concave-convex ESG-CSD nexus is confirmed in non-environmentally sensitive industries. This study improves scholars’ understanding of ESG performance and provides a comprehensive perspective on the double-edged effects (positive and negative consequences) of ESG practices. The instrumentalization of ESG practices for management to seek personal gain has a negative impact on CSD, while ESG practices that add value for stakeholders have a positive impact. These findings provide empirical evidence for Chinese publicly listed manufacturing firms to effectively conduct ESG practices.

The Development Strategy of Nationalistic Derivatives in the Chinese Animated Film Industry

Purpose – This study explores the utilization of Chinese traditional culture in animation, with a focus on film derivatives. The study analyzes recent growth and challenges in the Chinese animation industry and aims to effectively utilize Chinese culture in developing animation derivatives. Drawing insights from US and Japanese models, the initiative aims to develop a unique Chinese animation industry, with the goal of improving global competitiveness, cultural impact, and market expansion. Design/Methodology/Approach – This study adopts a research methodology primarily focused on deeply mining the rich resources of Chinese traditional culture, coupled with referencing the mature animation industry chains of the United States and Japan, to develop a more ethnically distinctive animation film industry chain in China. The main research methods involve literature review and case analysis, aiming to explore key issues and solutions in the development of ethnic-oriented animation film derivatives in the Chinese animation film industry. Findings – China’s animation industry is progressing, yet it faces challenges in derivative development, which hinders sustained growth. Leveraging its abundant traditional culture can provide a unique competitive advantage. Integrating insights from established US and Japanese animation industries with Chinese culture is crucial for fostering a more ethnically distinctive animation industry in China, which holds significant promise for future development. Research Implications – The proposal innovatively leverages China’s traditional culture for animation growth, providing insights for sustainable development. It highlights the significance of animation derivatives, guiding commercial exploration. By promoting Chinese culture, it enhances the global competitiveness of animation, facilitating international cultural exchange.

Do Australian 19th Century Gold Discoveries have Implications for Interpreting Early Gold Mining Elsewhere?

Eight discovery histories of well-documented Australian goldfields indicate the bonanza recoveries available to “first-movers” into previously unmined areas. These have implications for how we interpret goldfields elsewhere that have been repeatedly re-worked since Antiquity and where earliest exploitation has left no clear record. Australian gold was first mined after European settlement in the 19th century, and the manual techniques in the initial stages were not substantially better than available to Bronze Age miners. Dry blowing was used extensively in both arid and seasonally dry regions, often as an initial step followed by transport to a water source. The ease of gold recovery from placers conferred a huge competitive advantage over lode gold, which required crushing and grinding. Hence, early production was generally dominated by free gold recovered from proximal settings including non-alluvial placers (residual, eluvial, colluvial, and hillslope areas). Earliest returns were often prodigious: 5 to 50 grams of gold or more per miner per day in the discovery phase, and 1-5 grams while unworked ground remained. Commonly these high returns were prolonged by “rolling rushes” in which multiple nearby gold occurrences were discovered. Nevertheless, production waned rapidly (within 2-15 years) unless major lodes or large distal placers were discovered. Early returns are not a good predictor of overall productivity: more than 90 percent of gold was recovered in the initial burst of activity on some fields. Colluvial and proximal alluvial placer mining overwhelmingly dominated early production in most Australian goldfields but leave minimal archaeological evidence. That was probably the case elsewhere in the world, where gold was first mined in the Bronze Age or earlier, and we should heed this when interpreting their earliest mining phases.

State and Prospects of 6<sup>th</sup> Technological Mode in Russian Economy

Continuous acceleration and complication of scientific and technological development requires continuous improvement of forecasting and planning methodologies. The purpose of this article is to describe patterns of technological modes (TM) substitution and the basics of centralized and decentralized management of these processes. The article describes the structure of the 6th technological mode, justifies the selection of product positions that give an idea of its global development and the Russian development lag. Difficulties arising from the study of scientific and technological development are identified. The basics of technological statistical data collection and methodologies for plotting diffusion curves and measuring Russian development lag from leading countries in the world are presented. A study of the presence of 6th mode companies and research and development teams has shown that all technologies of the 6th mode are represented in Russia. In accordance with the Strategy for Scientific and Technological Development of Russia, some recommendations for accelerating scientific and technological growth in Russia are presented. Despite the existing significant lag in scientific and technological advancement in Russia, the implementation of these recommendations, as well as similar interconnected and networked initiatives, will allow Russia to gain a competitive advantage in global scientific and technological development, with medicine playing a central role in the economy based on future nature-like technologies.

State and Prospects of 6<sup>th</sup> Technological Mode in Russian Economy

Continuous acceleration and complication of scientific and technological development requires continuous improvement of forecasting and planning methodologies. The purpose of this article is to describe patterns of technological modes (TM) substitution and the basics of centralized and decentralized management of these processes. The article describes the structure of the 6th technological mode, justifies the selection of product positions that give an idea of its global development and the Russian development lag. Difficulties arising from the study of scientific and technological development are identified. The basics of technological statistical data collection and methodologies for plotting diffusion curves and measuring Russian development lag from leading countries in the world are presented. A study of the presence of 6th mode companies and research and development teams has shown that all technologies of the 6th mode are represented in Russia. In accordance with the Strategy for Scientific and Technological Development of Russia, some recommendations for accelerating scientific and technological growth in Russia are presented. Despite the existing significant lag in scientific and technological advancement in Russia, the implementation of these recommendations, as well as similar interconnected and networked initiatives, will allow Russia to gain a competitive advantage in global scientific and technological development, with medicine playing a central role in the economy based on future nature-like technologies.

The Development Strategy of Nationalistic Derivatives in the Chinese Animated Film Industry

Purpose – This study explores the utilization of Chinese traditional culture in animation, with a focus on film derivatives. The study analyzes recent growth and challenges in the Chinese animation industry and aims to effectively utilize Chinese culture in developing animation derivatives. Drawing insights from US and Japanese models, the initiative aims to develop a unique Chinese animation industry, with the goal of improving global competitiveness, cultural impact, and market expansion. Design/Methodology/Approach – This study adopts a research methodology primarily focused on deeply mining the rich resources of Chinese traditional culture, coupled with referencing the mature animation industry chains of the United States and Japan, to develop a more ethnically distinctive animation film industry chain in China. The main research methods involve literature review and case analysis, aiming to explore key issues and solutions in the development of ethnic-oriented animation film derivatives in the Chinese animation film industry. Findings – China’s animation industry is progressing, yet it faces challenges in derivative development, which hinders sustained growth. Leveraging its abundant traditional culture can provide a unique competitive advantage. Integrating insights from established US and Japanese animation industries with Chinese culture is crucial for fostering a more ethnically distinctive animation industry in China, which holds significant promise for future development. Research Implications – The proposal innovatively leverages China’s traditional culture for animation growth, providing insights for sustainable development. It highlights the significance of animation derivatives, guiding commercial exploration. By promoting Chinese culture, it enhances the global competitiveness of animation, facilitating international cultural exchange.

The mediating role of job satisfaction and competitive advantage between quality management practices and sustainable performance: Case of hospitals in Guangxi, China

BACKGROUND: Ensuring medical quality and safety is the perpetual focus of healthcare management. Hospitals must prioritize quality management for sustainable growth. However, the complexity of quality management in hospitals, coupled with evolving practices, presents challenges. Achieving the integration of economic, environmental, and social benefits for high-quality development remains difficult. While quality management practices are acknowledged as strategic tools, their impact on job satisfaction, competitive advantage, and sustainable performance is not yet fully understood. OBJECTIVE: The objective of this research was to empirically demonstrate the relationship between quality management practices, job satisfaction, competitive advantage, and sustainable performance. METHODS: The study uses a quantitative research method. A questionnaire survey was conducted in Guangxi, China, among 171 quality management executives in secondary and tertiary hospitals, and the proposed research model was validated using PLS-SEM. RESULTS: The results showed that quality management practices have positive direct and indirect effects on sustainable performance, confirming the partial mediating role of job satisfaction, and competitive advantage in the relationship between quality management practices and sustainable performance. CONCLUSIONS: This study addresses a gap in quality management literature by exploring the relationship between quality management practices, job satisfaction, competitive advantage, and sustainable performance. Findings reveal that higher implementation of quality management practices correlates with increased job satisfaction, stronger competitive advantage, and enhanced sustainable performance in hospitals. These results suggest that implementing quality management practices can boost job satisfaction, enhance competitive advantage, and promote sustainable performance, offering valuable insights for hospital leaders.

Digital transition from industry 4.0 to industry 5.0 in smart manufacturing: A framework for sustainable future

Digital transition to Industry 5.0 (I5.0) has finally arrived after Industry 4.0 (I4.0) was offered ten years ago to help address industry flaws in manufacturing. I5.0 is necessary in contemporary business to achieve competitive advantages for a sustainable future. However, despite the importance of I5.0, the critical success factors (CSFs) for the transition from I4.0 to I5.0 have not been explored extensively in the literature. This study develops a model to investigate potential CSFs for the smooth transition from I4.0 to I5.0. The study ensures systems flexibility, then ranks the identified CSFs based on their influential weights and explores their interrelationships. The study adopts the Bayesian best-worst method (B-BWM) to assess the perceptions of several decision-makers from a probabilistic perspective for reducing information loss. The results from this study reflect that CSFs, such as adoption of advanced technology to create value in I5.0 paradigm, high-powered analytical ability for smart manufacturing, cost and funding in transition from I4.0 to I5.0, aligned organizational strategy in transition to I5.0, and security and privacy to ensure effective digital transformation, contribute significantly towards the digital transformation from I4.0 to I.50 in smart manufacturing in the context of steel manufacturing business environment considering the developing countries. The successful implementation of CSFs can help achieve flexibility in the supply chain, contribute to flexible systems and support managers in framing strategies that help them prioritize for an easy transition towards a sustainable future.

THE RELATIONSHIP BETWEEN INNOVATION ACTIVITIES AND PROFITABILITY OF BIST MANUFACTURING COMPANIES

This study's purpose is to analyze the connection between innovation activites and profitability of companies trading in the manufacturing industry on the Istanbul Stock Exchange. For this purpose, data from independently audited financial and income statements of 45 manufacturing companies with R&D expenditures during 2008-2021 are analyzed using the panel data. According to the examination's findings, there is an important and advantageous connection between business innovation activities and firm profitability. To conclude, the results of research examining the connection between innovation activity and profitability have both micro and macro implications. On a micro level, the solution assists firms in gaining a competitive advantage by ensuring that existing production systems operate effectively and increasing their share. At the macro level, they improve the welfare of society and help promote long-term economic growth and the accumulation of knowledge, especially the effective and cost-effective utilization of national resources.