Competitive Business Environment Research Articles

CMMI & Lean-Based Metrics Governance Model to Ensure Data Accuracy & Consistency for Ai/Ml Applications for Sustainable Operations in Mining Industry

In today’s competitive business environment, even small improvements in productivity and efficiency can have a huge impact on company’s profitability. Whether it is through reduced lead time/waste, minimized downtime or improved quality, operation managers are looking for any advantage at every stage. Lean management is a long-term operational discipline that methodically seeks to enhance efficiency and quality by eliminating wastage. The concept is being used in varied industries and helped by improved productivity, safety & better management. Lean in being used by few mining companies also at a small scale, which has helped them in limited way. AI/ML is another important technology used by many organizations. Many global mining companies have also used it for improving operational efficiency, which have helped miners in a limited ways in improving the productivity and safety. Mining companies have to deal with tons of data set generated from heavy machinery and plants, which have to be stored, processed, and stored. There are many challenges in the data set generated/used by AI/ML-application for mining operations. One of the key challenges in AI/ML is accessibility and availability of accurate & consistent data. To ensure consistency of data there is a need for a governance structure which will guarantee the availability of required accurate data set for AI/ML system. One possible solution could be, CMMI’s metrics processes used by IT companies and have helped in improving quality. CMMI’s Metrics related processes are being used extensively by the organizations for better monitoring & control of key measures. This paper explores the possibility of usage of CMMI’s metrics practices with lean implementation in mining for ensuring availability of accurate data sets for AI/ML applications. The proposed framework will put a governance model in place to ensure accuracy & consistency of data to be used for AI/ML-applications in Mining.

Digital Transformation in Operations Management: Leveraging Technology to Improve Business Efficiency

Digital transformation in operations management has become an urgent need for companies to improve efficiency, productivity, and competitiveness in the face of an increasingly complex and competitive business environment. Digital technologies such as the Internet of Things (IoT), artificial intelligence (AI), robotics, and big data provide opportunities for companies to optimize various aspects of operations. This article aims to explore how digital transformation can be applied in operations management to support these goals. The research method used is a literature review, where various previous studies and industry reports are analyzed to identify the benefits, challenges, and impacts of digital technology implementation on business operations. The results show that the implementation of digital technology enables companies to speed up workflows, reduce costs, improve process accuracy, and prepare the foundation for continuous innovation. In the discussion, it is also explained that although there are challenges in terms of investment costs, training, and data security, companies that successfully overcome these barriers will gain a significant competitive advantage. The implications of these findings are the importance of continued investment in technology and human capital development, as well as the adoption of sustainability strategies to support long-term growth.

Interpreting The Impetus of Artificial Intelligence (AI) On Customer Satisfaction in The Digital Banking Landscape

Artificial Intelligence (AI) transforms digital banking technology by augmenting the consumer banking experiences. This study explored the stimulus of AI attributes-trendiness, visual attractiveness, and problem-solving on customer satisfaction in digital banking. To accomplish this, a descriptive and quantitative research approach was embraced, gathering and analysing 120 sample using SPSS 23.0. The correlation analysis exposed positive association between AI attributes and customer satisfaction. Trendiness indicated a modest correlation, Visual Attractiveness and Problem Solving exhibited robust correlations. The regression analysis proved that visual attractiveness is exceptionally significant, problem solving exhibited significant impact and trendiness did not forecast substantial customer pleasure. This study emphasizes the significance of visual attractiveness and problem-solving in shaping positive customer experiences in AI-induced digital banking, stressing the necessity for the constant innovation in the competitive business environment.

Analysis of Revenue Recognition Based on PSAK Number 23: Case Study In Trading Company PT. Solusindo Ganda Kharisma

This study aims to analyze the implementation of revenue recognition based on the Statement of Financial Accounting Standards (PSAK) No. 23 in the trading company PT. Solusindo Ganda Kharisma. In an increasingly competitive business environment, companies are required to implement an effective accounting information system to produce accurate and timely financial information. Revenue is one of the key elements in financial statements, where its recognition and measurement affect the quality of the information presented. This research uses a descriptive qualitative approach. Primary data were obtained through interviews with relevant parties in the company, while secondary data were sourced from the company’s financial statements, internal accounting policies, and other documents. The results of the study indicate that PT. Solusindo Ganda Kharisma has effectively implemented PSAK Number 23 in the recognition of revenue from the sale of goods and services. Revenue from the sale of goods is recognized when the goods have been received by the customer, while service revenue is recognized based on the percentage of work completion. However, several challenges remain, such as delayed revenue recognition due to late delivery of goods and discrepancies in estimating the percentage of work completion for service sales.

Cognitive, Emotional and Behavioral Factors that Influence Consumer Behavior

Investing in understanding consumer behavior is one the approaches companies can reliably use to thrive in the highly competitive business environment. In a fiercely competitive business environment, understanding consumer behavior is essential for companies aiming to succeed. While traditional studies emphasize social, cultural, economic, personal, and psychological influences on consumer behavior, this study delves deeper into the cognitive, emotional, and behavioral factors that also play significant roles. Analyzing Apple’s iphone purchase behavior reveals that cognitive factors, such as rationalizing the purchase, are crucial in justifying the decision to buy. Emotional factors, including the feelings and motivations that drive consumers, are key in triggering the purchase. Behavioral factors, on the other hand, encompass how the product is consumed and how customers interact with it and with each other. Marketers should carefully examine each of these factors and utilize their insights strategically. Businesses should foster close collaboration between marketing and product development teams to ensure they not only communicate the brand’s promise effectively but also deliver on it consistently.

Influence of Business Process Re-Engineering on Customer Satisfaction in Corporate Organisations: A Case of Sterling Bank PLC.

Business Process Re-Engineering (BPR) has emerged as a crucial strategic tool for organisations aiming to enhance performance and competitiveness in today’s dynamic market. This study examines the influence of BPR on customer satisfaction within corporate organisations, with a particular focus on Sterling Bank Plc. A survey research design was adopted, utilising structured questionnaires to collect quantitative and qualitative data from 100 bank employees. The data were analysed using multiple linear regression to determine the influence of BPR practices and customer satisfaction in corporate organisations. The results reveal a strong positive correlation, with an adjusted R-squared value of 56.8% and a standardised coefficient of 0.775, indicating that effective BPR implementation significantly enhances customer satisfaction (p-value = 0.000). The findings demonstrate that BPR is essential for improving customer loyalty, service quality, and overall organisational success. It underscores the role of BPR in fostering a customer-centric approach, which is critical in a highly competitive business environment. To maximise these benefits, the study recommends that organisations continuously review and refine their BPR strategies, invest in employee training, and leverage advanced technologies to optimise business processes. Furthermore, fostering a culture of innovation and responsiveness and implementing regular feedback mechanisms is vital for ensuring that BPR efforts align with customer expectations and drive long-term improvements in organisational performance.

Hypothesis Test of Human Capital Investment Determinants on Institution’s Performance Using PLS-SEM Approach

Accelerating the quality of education institutions remains a priority for Malaysian Government as it forms the foundation for building a high caliber talent in the labor market. Focusing on improving the quality of universities one of the main concerns is to develop the human quality through increasing the quality and resilience of human capital as the enabler towards competitive global market. In general, this paper recognizes the findings on the role of human capital investment (HCI) determinants and their significant contribution to institution’s performance. It also emphasizes the roles of HCI in institution's success and survival in a highly competitive business environment as highlighted in The Twelfth Malaysia Plan (2021-2025) and Malaysia Education Blueprint 2015-2025. Human capital strategically contributes to the quality of academics in turn affects issues such as inefficient labor markers in achieving the greater quality of Malaysia's education system specifically. Hence, to analyze the contribution of determinants a theoretical model was constructed underlined by Human Capital Theory, Resource Based View (RBV) and Malcom Baldrige criteria. Then to obtain the feedback a survey consisting of sixty (66) items with a seven (7) Likert scale was used as the measurement instrument to gather the data from 309 lecturers in UiTM. Data then were analyzed using Structural Equation Modelling approach on the SmartPLS3 platform. The result explained coefficient of determination (R2) value of 66.9% suggested that the variance of institution performance could moderately be explained by HCI determinants where knowledge, skill and training positively influenced the performance of the institution.

Navigating workplace conflicts and fostering innovative behaviors: the role of job commitment and socio-instrumental ESM utilization

This study explores the dynamics of intersection between workplace conflicts, job commitment, and socio-instrumental enterprise social media (ESM) utilization for improving innovation. This study proposes job commitment as a pivotal mediator that influences employees' attitudinal responses to the array of conflicts encountered in the workplace. Additionally, it introduce socio-instrumental ESM use as a potent moderator, influencing employees' appraisals of workplace conflicts. To illuminate the intricate tapestry of these interactions, we present a moderated mediation model that delineates the complex nomological network governing the interplay among workplace conflicts, job commitment, and the cultivation of innovative behaviors. Based on empirical data encompassing 447 employees, our findings illuminate the distinctive moderating roles played by these socio-instrumental ESM usage. These patterns differentially moderate the connections between workplace conflicts and job commitment, as well as the indirect connections between workplace conflicts and the stimulation of employee innovation through job commitment. This research significantly advances our theoretical understanding of the multifaceted interplay among workplace conflicts, job commitment, socio-instrumental ESM utilization, and employee innovation. Moreover, it offers implications that can faciliate organizational strategies aimed at fostering innovation. By recognizing the pivotal roles of job commitment and socio-instrumental ESM, organizations can strategically harness these factors to cultivate a culture of innovation, positioning themselves for success in an increasingly competitive and dynamic business environment.

Relationship Between Organisational Innovation and Organisation Performance: A Study of Nigeria Bottling Company

In an increasingly competitive business environment, the role of organisational innovation as a driver of performance is more crucial than ever. This study investigates the relationship between organisational innovation and organisational performance with a specific focus on Nigeria Bottling Company. Using a mixed-methods approach, the study explores how innovations in product development, processes, and management systems contribute to enhanced operational efficiency, market share, and financial outcomes. The study adopts a descriptive cross-sectional survey. The target population for this study consisted of two hundred and forty-five (245) staff members from Nigeria Bottling Company. Data was collected through structured questionnaires with key personnel across various departments within the organisation and analysed using descriptive statistics and regression analysis for the hypotheses. The study revealed that film size innovation is vital for a company's success in today's highly competitive business environment and leads to higher productivity, meaning that the same input generates a greater output. Innovatiocontributeste to firms’ success in terms of better performance in the form of higher profits, lower production costs, more efficient working procedures, and better relationships with customers. Furthermore, finding shows that creativity and innovation helps and improves the work of employees together with improving organisational performance. The study concludes that fostering a culture of continuous innovation is essential for sustaining competitive advantage in the beverage industry. It is therefore recommended that technological innovation be incorporated at all levels. The management of the organisation has to design an effective and timely market innovation strategy and communicate it to all staff members to enhance organisational performance and productivity. Organisations should consider innovation that is either market, product or organisation-based to improve and increase the organisational performance as innovation is significant to new product development, product modification and creation of a new market as experienced in new product lines like increase in online marketing, online purchase of different products and global connection of markets into one.

Influence of Organizational Market Culture on Change Management in Kenyan Social Enterprises

Firms ought to continuously adapt and modify their operations to fit the changing circumstances in the fiercely competitive and dynamic business environment. This suggests that businesses must incur substantial costs to carry out a variety of changes that will enable them to operate in the changing environment. Adjustments play an important part in defining firm competitiveness in the modern economic environment; however, many firms struggle to properly manage innovations, ensure long-term development, and motivate employees to accept change. This study explored the influence of organizational market culture on change management in social enterprises in Kenya. The study employed the Competing Values Culture theory to assess the company's culture. Using a descriptive design, the study targeted all 129 employees of Kidogo Early Years Company Limited, from top management to departmental level. Data collection involved questionnaire surveys for primary data. Analysis of quantitative data was by Statistical Package for Social Sciences version 29. The regression analysis findings revealed that organizational market culture (β = 0.310, p = 0.012) had significant positive influence on change management. The study concludes that organizations that are goal-oriented and market-driven are more adaptable to external pressures and are better positioned to manage change effectively. In view of the findings, the study recommends that for organizations with a market culture, it is crucial to embed a results-oriented approach that aligns change management with organizational goals and objectives. Practices such as setting clear performance targets, encouraging a competitive spirit, and focusing on market-driven strategies should be incorporated into daily operations. Keywords: Organizational Market Culture, Change Management, Social Enterprises, Organizational Culture Influence, Kenya

An Innovative Perspective for Constructing Cultural and Creative e-Commerce Platforms: Integrating Insights from ICDT Theory and Brand Personality

Thriving in competitive business environments requires innovation, especially within cultural and creative-based e-commerce platforms. This study examines the application of two prominent theories, ICDT theory and brand personality, in assessing new business models. Focusing on 479 respondents from Taiwan, this research explores how the implementation of ICDT and brand personality in cultural and creative e-commerce influences customer behavior. Statistical analyses and the Smart PLS method are adopted to identify the significance of and relationships between the variables in the structural equation model. The profound influence of the ICDT model is evident in the emergence of virtual information space, virtual communication space, and virtual transaction space. Brand personality traits underscore the significance of intellectual excellence, M-type traits, seeking innovation and change, and stable reliability in shaping customer values. This research enriches the literature by emphasizing the essential role of innovative technologies and brand issues integrated with core product attributes for successful consumer acceptance in the fiercely competitive landscape of e-commerce platforms.

Beyond success and failure: learning from execution of corporate entrepreneurial actions

Purpose This article aims to redefine the paradigm of evaluating corporate entrepreneurial actions, moving beyond the simplistic success/failure dichotomy. It underscores the importance of a nuanced understanding of the outcomes of such initiatives, emphasizing the need for organizations to learn from both their successes and failures. The focus is on fostering a learning organization culture, where strategic decision-making is enhanced through a comprehensive analysis of past entrepreneurial endeavors, thus ensuring long-term corporate health and growth. Design/methodology/approach The study is based on the analysis of the existing literature and illustrative real-world cases from prominent corporations. Findings The findings reveal that understanding the reasons behind the success or failure of strategic initiatives is crucial for sustainable corporate growth. The study highlights that mere success can be misleading without comprehending the underlying factors, just as failure can offer valuable lessons if properly analyzed. The 'Learning from Execution Matrix' facilitates this understanding, aiding corporations in fostering a culture of continuous improvement. The DIRS (Decomposition, Interpretation, Rewarding, Scaling) framework further helps in breaking down and scaling these learnings for broader application within the organization. Originality/value This article contributes to the field of strategic entrepreneurship by providing a novel framework for analyzing corporate entrepreneurial actions. The 'Learning from Execution Matrix' and the DIRS framework offer practical, actionable tools for managers and leaders, fostering a culture of learning and strategic adaptation. This approach is original in its emphasis on the nuanced understanding of both successes and failures, making it a valuable guide for corporations seeking sustained growth and innovation in a competitive business environment.

Information sharing's impact on supply chain management, logistics, and organizational performance

This study investigates the relationships between supply chain management (SCM), logistics capability, information sharing, and organisational performance. Data was collected from 120 respondents in [industry/sector] using a quantitative research approach. The results of the analysis indicate that SCM, logistics capability, and information sharing are all positively and significantly related to organisational performance. Effective SCM practices, including integration, collaboration, and strategic planning, are essential for driving organisational success. Logistics capability, including delivery speed, dependability, and flexibility, is crucial in improving customer satisfaction and overall efficiency. Information sharing is a critical enabler of effective SCM and organisational performance, fostering collaboration, decision-making, and innovation. The study also found that demographic factors (gender, age, education) had limited impact on the relationships between the constructs. This suggests that the findings are generally applicable across different demographic segments. Overall, this study's findings highlight the importance of effective SCM, logistics capability, and information sharing as key drivers of organisational performance. Organisations prioritising these factors are more likely to achieve sustainable success in today's competitive business environment.

Flexibility and Adaptation of Contract Law

This study aims to explore the differences in the flexibility and adaptation of contract law in Indonesia which adheres to the civil law system and Singapore which is based on common law, as well as its implications for modern business. Contract law in Indonesia is still heavily dependent on the Civil Code (KUHPerdata), which dates back to the colonial era and has not undergone significant updates. This has led to stiffness in the implementation of contracts, especially in fast-growing business sectors such as digital technology. In contrast, Singapore has adopted a common law system, which is more flexible and able to adapt to changes in the economy and international business dynamics through the use of precedents. In a business context, flexibility and legal adaptation are essential because contracts often have to adapt to new emerging needs, including changes in technology, regulations, and market conditions. This study uses a normative juridical approach with a comparative method, examining laws, court decisions, and related academic literature. The case study of business contracts between Indonesian and Singaporean companies in the technology sector is also used as a study material to provide a practical view of the effectiveness of each country's legal system in facing contemporary business challenges. The results show that Singapore excels in contract flexibility due to the use of precedents that allow for legal adjustments without the need for formal legislative changes. On the other hand, contract law in Indonesia is often unable to keep up with rapid developments due to rigid and outdated regulatory limitations. This difference has an impact on the speed and efficiency of contract dispute resolution in both countries, with Singapore being able to resolve disputes more quickly through a more responsive system. This study concludes that to increase competitiveness in the global economy, Indonesia needs to reform the Civil Code to be more flexible and adaptive like the one implemented in Singapore. These recommendations are important to ensure that Indonesia can create a more competitive business environment and support innovation, especially in the ever-evolving digital era.

Inventory Management Practices and Their Impact on Operational Efficiency: A Case Study of MGSSK Sugars Ltd.

In today’s highly competitive business environment, effective inventory management is vital for maintaining operational efficiency and ensuring long-term sustainability. Proper inventory control reduces excess stock and prevents stock outs, leading to cost reduction and improved cash flow. By utilizing precise forecasting and strategic replenishment methods, companies can enhance their adaptability to market changes and sustain a competitive advantage. This research provides a thorough examination of inventory management metrics spanning five years. The primary objective of the study is to evaluate the effectiveness of inventory management. The data was primarily collected from secondary sources, including five years of company inventory records. To analyze the data, the ratio analysis method was applied. The results demonstrate notable improvements in the company’s operational efficiency. Key performance indicators include a steady rise in the inventory turnover ratio and a reduction in average stock levels, showcasing effective inventory control aligned with increasing demand and minimizing surplus stock. Moreover, the study reveals a decreasing trend in inventory as a proportion of current assets, indicating a strategic shift away from relying on inventory for revenue generation. Additionally, variations in raw material values, coupled with consistent material consumption, suggest fluctuations in raw material usage efficiency. Furthermore, the relationship between the raw material turnover ratio and inventory holding period highlights the company’s proficiency in optimizing inventory management. The declining inventory conversion period indicates successful transformation of inventory into sales, boosting cash flow and operational efficiency. This improvement is attributed to advanced forecasting and stock replenishment strategies.

Human Resource Management Innovation Strategy in Realizing Competitive Advantage

Human resource management is the most essential thing in an organization. Because superior human resource management can increase competitiveness, for this reason, management needs to study more deeply the resources that can be relied on to compete in a competitive business environment and place leverage on resources that can place the company in a competitive position in the long term. Therefore, human resource management innovation strategies have many managerial implications for business policymakers. The research used a qualitative approach with literature methods (library study), which are appropriate to the current problems. Namely the importance of human resource management strategies to realize superior competitiveness. The results of this research show that human resource management is the heart of corporate or organizational governance. Management strategies and innovations are needed to improve superior and competitive human resources. Steps or forms of innovation strategy for Human Resources (HR): Continuous training in stages and stages, Mastery of technology and digitalization, More active marketing, Forming a solid team, Establishing more comprehensive relationships, Transparency, Committed, Competent, Flexible, and Innovative integrated as a competitive quality.

ANALYSIS OF THE APPLICATION OF ISLAMIC BUSINESS ETHICS (CASE STUDY OF LOPO MANDHELING COFFEE PANYABUNGAN MANDAILING NATAL)

Purpose: This research aims to examine how the Islamic business ethics present at Lopo Mandheling Coffee align with Islamic business ethics, in which the author conducts a study titled “Analysis of the Implementation of Islamic Business Ethics at Lopo Mandheling Coffee Panyabungan Mandailing Natal.” Methodology: The method used is a qualitative approach. At Lopo Mandheling Coffee, good Islamic business ethics have been implemented in accordance with the principles of unity, balance, free will, and responsibility. Results: It can be concluded that Lopo Mandheling Coffee has implemented Islamic business ethics as a competitive advantage. It is as if we have implemented the obligation of performing the five daily prayers, providing assistance and support to orphans as a form of social and environmental concern, as well as responsibility. Limitations : The author's suggestion is that Lopo Mandheling Coffee Panyabungan is expected to remain steadfast in applying the principles of Islamic business ethics, improve the quantity and quality of Human Resource management, and enhance the company's capital by seeking investors. Contribution : Islamic-based business ethics must be applied in today's highly competitive business environment. Keywords: Islamic Business Ethics; Application; Lopo Mandheling Coffee Panyabungan.

The Relationship between Quality Control and Corporate Brand Strategy in Operations Management

In today's competitive business environment, quality control and brand strategy are critical factors for corporate success. This paper aims to explore the close relationship between quality control and corporate brand strategy in operational management. Initially, the paper defines quality control and brand strategy and analyzes their importance in modern corporate operations. Subsequently, it elaborates on the role of quality control in enhancing product and service quality, as well as customer satisfaction, and the central position of brand strategy in shaping corporate image, accumulating brand equity, and competing in the market. Through case analysis, the paper reveals how quality control supports the implementation of brand strategy and how brand strategy influences the decision-making and execution of quality control. Finally, the paper discusses the challenges faced by companies in implementing quality control and brand strategy and proposes corresponding countermeasures. The findings of this study emphasize the importance of the synergistic development of quality control and brand strategy and provide guidance and recommendations for corporate practice.

The economic impact of social media marketing: A study of consumer goods in emerging markets

The economic impact of social media marketing on consumer goods in emerging markets has become increasingly significant, driven by rapid digital adoption and the growing influence of online platforms. This study explores how social media marketing strategies employed by consumer goods companies contribute to economic growth in these regions. By leveraging data from various emerging markets, the research examines the role of social media in enhancing brand visibility, consumer engagement, and market penetration. The study highlights the ability of social media to reach vast audiences at relatively low costs, enabling companies to build brand awareness and foster consumer loyalty in markets where traditional advertising channels may be less effective or accessible. Through targeted advertising, influencer partnerships, and interactive campaigns, social media marketing has proven instrumental in driving sales and expanding market share for consumer goods companies. This, in turn, has stimulated local economies by increasing consumer spending, creating jobs, and encouraging competition. Furthermore, the study discusses the multiplier effect of social media marketing on economic development, particularly in how it helps local businesses integrate into the global economy. By providing a platform for smaller companies to compete with established brands, social media has democratized access to markets and facilitated the growth of entrepreneurial ventures in emerging economies. However, the study also acknowledges the challenges and limitations of social media marketing in these contexts, such as digital divides, varying levels of internet penetration, and the need for culturally sensitive content. The findings underscore the importance of adapting social media strategies to the specific characteristics of emerging markets to maximize their economic impact. In conclusion, social media marketing has become a powerful tool for driving economic growth in emerging markets by enhancing brand presence, increasing consumer demand, and fostering competitive business environments. As digital ecosystems continue to evolve, the role of social media in shaping economic landscapes in these regions is expected to expand further, offering significant opportunities for consumer goods companies and local economies alike.

The Role of Satisfaction and Trust in Mediating the Relationship Between Payment Method and Vendor Loyalty (Study on Construction Company PT. Wijaya Karya)

Loyalty is crucial for sustainable business relationships and long-term company success. In competitive business environments, companies must enhance loyalty by focusing on key factors. This research aims to examine how satisfaction and trust mediate the impact of payment on vendor loyalty at PT. Wijaya Karya. Using a quantitative method and questionnaire, the study targets 120 vendors who have contracts with PT. Wijaya Karya Infrastructure Division I. This research uses 5 Likert scales to measure variables when testing the validity and reliability of variables. This research was analyzed using PLS-based SEM. The research results show that (1) Payment has a positive and significant effect on satisfaction, (2) Payment has a positive and significant effect on trust, (3) Payment has a positive and significant effect on loyalty (4) Satisfaction has a positive and significant effect on loyalty (5) Trust positive and significant effect on loyalty (6) Payment has a significant effect on loyalty through satisfaction (7) Payment significantly influences loyalty through trust. Theoretically, this research develops a model linking payment, satisfaction, trust, and vendor loyalty, enhancing our understanding of vendor loyalty in business relationships. Practically, PT. Wijaya Karya should focus on improving payment, satisfaction, and trust to boost vendor loyalty. The study contributes to business relationship management literature and offers practical recommendations for PT. Wijaya Karya. Future research should consider additional factors like experience, relationship quality, and communication quality to further explore vendor loyalty.