Contemporary Business Environment Research Articles

Generative AI in the workplace: how employee experiences influence work outcomes?

PurposeIn the contemporary business environment, organizations continue to increase their application of generative AI (GenAI) to enhance efficiency and productivity. Therefore, it becomes important to understand the impacts of GenAI on employees’ behaviors and organizations’ outcomes. In this research, we examine the impact of employee experience with GenAI on knowledge sharing, organizational resilience and agility and the role of emotional intelligence as a mediator.Design/methodology/approachThe data gathered from 272 employees in various organizations using Qualtrics were analyzed through structural equation modeling to address questions about how employee experience with GenAI influences knowledge-sharing behavior within organizations. Additionally, it examines how knowledge sharing and resilience mediate the relationship between employee experience with GenAI and agility and how emotional intelligence moderates the relationship between employee experience with GenAI and its outcomes.FindingsThe findings indicate that GenAI is not just a tool but a resource that affects knowledge sharing, resilience and agility. The results indicate that knowledge sharing mediates the relationship between employee experience with GenAI and resilience and employee experience with GenAI and agility. Emotional intelligence emerged as a moderator between GenAI experience and resilience, with no moderation on knowledge sharing or agility.Originality/valueThe research guides organizations on how to engage GenAI and why it is important to embrace emotional intelligence to improve the outcomes realized from AI integration.

Talent management practice and retention of employees in pharmaceutical firms in Nairobi County in Kenya

The contemporary business environment is characterized by competition, with organizations encountering challenges related to employee retention, irrespective of their size or sector. Effective talent management is essential for organizations to acquire the requisite skills and expertise to fulfill their operational requirements. Retention of skilled employees is essential for maintaining competitive advantages. This research investigates the impact of talent management practices on employee retention in pharmaceutical companies located in Nairobi County, Kenya. Theoretical frameworks encompass resource-based view theory. The research focused on 58 agrochemical firms registered with the Agrochemicals Association of Kenya, specifically targeting management-level employees, amounting to a total of 324 individuals. The sample size of 179 respondents was calculated using the Krejcie and Morgan formula, employing stratified random sampling. Data collection utilized structured questionnaires, while quantitative analysis incorporated inferential and descriptive statistics, including means, standard deviations, frequencies, and percentages. Correlation analysis evaluated the relationship between talent development and employee retention, whereas multiple regression determined the effect of talent management practices. The research indicates that talent development has a positive impact on employee retention within pharmaceutical firms located in Nairobi County. Recommendations involve enhancing talent development strategies and cultivating a supportive work environment to improve employee retention rates.

"The Role of Innovation in Enhancing Institutional Competitiveness, A Field Study in the University of Zawia - Libya

In light of the rapid changes characterizing the contemporary business environment, the need to adopt innovation as a strategic pillar to enhance institutional competitiveness has grown significantly, including in higher education institutions. This study aims to analyze the relationship between innovation and competitiveness at the University of Zawia by assessing the extent to which various forms of innovation (technological, administrative, academic, and research-based) are adopted, and their impact on improving academic performance, university rankings, and the quality of educational services. The study also seeks to identify the challenges hindering the effective implementation of innovation within the university and to provide practical recommendations to address them. The study adopts a descriptive-analytical methodology by distributing a questionnaire to a sample of faculty members and staff at the University of Zawia. The results revealed a widespread awareness of the importance of innovation, along with its evident application in several areas, particularly in the use of technology. The findings also showed a statistically significant positive relationship between the adoption of innovation and the enhancement of the university’s competitiveness. However, several challenges were identified, such as weak digital infrastructure, limited funding, and organizational resistance. The study concluded with several recommendations, most notably the need to institutionalize innovation within the university’s organizational structures, enhance digital transformation, regularly update curricula, and link scientific research to community needs—all of which contribute to achieving a sustainable competitive advantage for the University of Zawia. Keywords: Innovation, Competitiveness, the University of Zawia, Higher Education, Digital Transformation, Administrative Innovation, University Ranking, Innovation Environment, Academic Quality, Scientific Research.

Understanding How Business Transformation Processes Are Driven: A Business Agility Model

Agile transformation processes are of critical importance in the contemporary business environment, as companies invest a significant amount of resources, time, and attention into achieve a state of business agility. These processes are complex, and companies lack reference roadmaps, guides, and even a common language to successfully achieve their goals. To assist organizations in these transformations, several business agility models have been proposed to help understanding where the transformation effort must be applied and where its effects will be manifested. However, there are numerous such transformations, which may be partial, and which reflect the author’s beliefs and preferences, rather than necessarily aligning with the needs of organizations. Therefore, more comprehensive and general models are required. This paper addresses this challenge. Through a rigorous search and review process of the existing literature, 15 models were identified and used as a basis. After a process of analysis and refinement based on the completeness of business agility, the frequency with which their dimensions are mentioned in the models were analyzed, and the simplicity in the result was searched for, we propose a model based on nine dimensions. Each dimension describes where to focus the transformation process, plan the necessary actions, understand the results, and compare the process with other similar processes. The proposed model is comprehensive and highlights the dimensions most frequently mentioned in various cases and in the state of the art. It applies to the concept of completeness in business agility, covering the entire organization, instead of partial and biased views. This approach has been validated through a survey of participants in an ongoing study about agile transformations to increase the adaptability and sustainability of organizations. Our proposal has some known limitations, such as the criteria used in its elaboration, its granularity, and the equivalence of its dimensions with other models. As for its use, it is a tool, not a roadmap or a detailed transformation plan, and it has not yet been empirically validated.

Determinant or moderator? Exploring the role of the external environment in the relationship between dimensions of entrepreneurial orientation and firm performance. Evidence from the hotel industry

This study focuses on analyzing the role of the external environment in shaping entrepreneurial orientation (EO) and its key dimensions: innovativeness, proactiveness, and risk-taking, as well as its influence on the relationship between EO, its dimensions, and firm performance. Two distinct models are examined: one positioning the external environment as a determinant of EO, and the other viewing it as a moderator in the relationship between EO and firm performance. Four traditional dimensions of the external environment are considered: complexity, dynamism, hostility, and munificence. The sample consists of small and medium-sized independent hotels in Poland, representing a sector particularly affected by the pandemic crisis. Data were collected through surveys conducted in May and June 2023. The hypotheses were tested using statistical analyses and Partial Least Squares Structural Equation Modeling. The findings reveal that the external environment appears more often as antecedent than moderator in the tested models. This observation indicates that the external environment’s role as a determinant is more pronounced than its moderating function. Furthermore, the analysis provides a deeper understanding of how external conditions shape EO, indicating that the most influential dimensions of the external environment are complexity and dynamism. This study adopts a novel and comprehensive approach by analyzing the external environment both as a determinant and as a moderator of EO, while also examining EO as a unidimensional and multidimensional construct. By examining firm performance from the perspectives of competitiveness and growth, this study provides insights into the interplay between the external environment, EO, and firm performance. Such an approach not only advances the theoretical and methodological frameworks in entrepreneurship research, filling critical gaps in the literature, but also provides practical guidance for managers in navigating the challenges of the contemporary business environment.

Personal Selling to Reach Consumers (Case Study at PT. Teknologi Mudah Terhubung)

In the rapidly evolving business landscape, Indonesia has emerged as the sixth-largest country in terms of start-up growth. This surge in new enterprises necessitates that companies develop effective and efficient marketing and promotional strategies to remain competitive. Personal selling remains a crucial promotional tool, as demonstrated by PT. Teknologi Mudah Terhubung, which utilizes this method to market its products. This study aims to explore the stages of personal selling, the messaging strategies involved, the challenges faced during the process, and the rationale behind adopting the "Less Paper More Proper" concept in their promotional activities. Employing a qualitative research method with a case study approach and rooted in a constructivist paradigm, the research was conducted at PT. Teknologi Mudah Terhubung. The findings are anticipated to result in a refined personal selling model for the company, enhancing its consumer outreach. The study identifies the key stages of personal selling at PT. Teknologi Mudah Terhubung, which include prospecting, presentation and sales, handling objections, closing, and aftersales. The messaging strategies involve market research, message content, channels, and sources. Challenges include regulatory issues with potential corporate clients, public understanding of technology, and the certainty of agreements with prospective customers. The "Less Paper More Proper" concept is employed to emphasize environmental concerns and promote the sales of Leafcard products. This study contributes to a deeper understanding of effective personal selling strategies in the contemporary business environment.

ZODA Pharmacy Franchising Business Partnership a Proposed Action Plan

The contemporary business environment has witnessed a significant transformation, with franchising emerging as a prominent and effective business model. In the Philippines, franchising has been a powerful driver of market penetration, business growth, job creation, and economic development over the past 30 years (Castleberry & Tanner, 2015). Notably, the food cart sector has become a leading force within the franchising industry, experiencing remarkable growth and popularity as an avenue for achieving financial stability. This growth has positioned the Philippines as the "franchise hub of Asia," with over 3,000 franchises established nationwide (Association of Filipino Franchisers, Inc., 2019). Franchising involves a franchisor granting a franchisee the rights to use their business model, trademark, and know-how. However, this relationship is complex and inherently fraught with potential conflicts. Issues often arise from inadequate franchisor support, which can strain the franchisor-franchisee relationship and erode trust. Without trust, the partnership deteriorates, affecting overall business performance and potentially leading to closures. Many franchisees have reported dissatisfaction with their franchisors, particularly regarding support and contract renewals (Kaufmann & Stanworth, 2015). This study delves into the critical issues affecting the franchisor- franchisee relationship in the Philippine food cart sector. It examines the impact of insufficient support, strained relationships, and trust deficits on business outcomes. By addressing these challenges, the study aims to propose strategies to enhance the stability, growth, and success of franchised businesses, ultimately contributing to the sustained development of the franchising industry in the Philippines.

Exploring Collaboration and Partnerships: A Qualitative Study on Strategic Alliances and Business Networking for Value Creation

This study investigates the dynamics, challenges, and opportunities in strategic alliances, business networking, and value-creation strategies in contemporary business environments. The research explores collaborative endeavors' motivations, mechanisms, and outcomes, drawing on insights from qualitative literature reviews and theoretical frameworks. The methodology involves a comprehensive selection of scholarly sources, systematic data collection methods, and rigorous data analysis techniques. Through thematic analysis and interpretation of existing literature, the study identifies key themes such as motivations for strategic alliances, mechanisms for value creation, and challenges in collaborative relationships. The findings reveal that strategic alliances are driven by traditional factors such as resource access and risk sharing and emerging trends like digitalization, globalization, and sustainability. Business networking is crucial in information exchange, resource access, and opportunity identification facilitated by digital platforms and online communities. Value creation in collaborative endeavors requires effective coordination, alignment of interests, and trust-building mechanisms among participating parties. The study contributes to understanding collaboration and networking dynamics, offering insights for practitioners and policymakers to foster successful partnerships and drive innovation and sustainable growth.

Digitization Process in a Changing Global Environment

This article aims to analyze modern technologies' impact on business process management approaches in the context of digitization and innovative management. Drawing on an extensive literature review, the study explores key themes such as the role of digital technologies in transforming traditional business practices, fostering innovation, and addressing market demands. The problem under investigation centers on the evolving nature of business process management in response to rapid technological advancements and the need for innovative strategies. The research is guided by the hypothesis that digitization and innovative management are critical drivers of efficiency, productivity, and competitive advantage in the contemporary business environment. A mixed-methods approach was employed to test this hypothesis, combining statistical data analysis, case studies of leading global and Ukrainian enterprises (including Amazon, Nova Poshta, and SoftServe), and regression modeling. The study sample includes data from eight enterprises and insights from 15 managers representing various industries. The results indicate that adopting digital technologies, such as artificial intelligence, blockchain, and IoT, significantly enhances business process automation, customer interaction, and organizational efficiency. The findings highlight notable growth trends in digital transformation indicators, including profitability, innovation output, and market competitiveness. Companies prioritizing digital innovations experience higher financial performance and adaptability in a dynamic market environment. This study underscores the implications of digitization for business process management, providing actionable insights for managers aiming to develop effective strategies for integrating digital and innovative practices. The research contributes to the theoretical understanding of digital transformation and offers practical applications for businesses seeking sustained growth and competitive advantage.

Mapping of Women’s Representation in Corporate Governance: A Bibliometric Review Analysis

The scholarly literature on gender diversity on corporate boards is examined through a bibliometric examination of women’s representation in corporate governance (CG). This research reviews pertinent literature, concentrating on works that investigate different facets of women’s involvement, functions and effects in CG frameworks worldwide. In order to assess trends, major topics and the effects of gender diversity on corporate performance and governance structures, this study examines 390 publications from the Scopus and Web of Science databases. To find trends in publication production, authorship patterns and citation impact over a certain time period, the analysis makes use of R-Studio, Biblioshiny and VOSviewer tools. The findings show that the topic is receiving more attention, and contributions are coming from a range of disciplinary perspectives. Despite their small presence in the area, the analysis revealed a large quantity of research on women’s involvement in CG. The research consistently shows that gender diversity and economic performance are positively correlated. It also highlights growing conversations about gender equity in corporate leadership and provides insight into future research directions that aim to advance greater equality and inclusivity in CG frameworks and sustainability in contemporary business environments.

Understanding How Companies Utilize Technological Innovation for Competitive Advantage: A Qualitative Inquiry

This qualitative study investigates the intricate relationship between technological innovation and competitive advantage within contemporary business environments. Employing a qualitative research design, the study conducts a comprehensive review and synthesis of existing literature to explore the underlying mechanisms and contextual factors shaping this relationship. Drawing upon key concepts from the resource-based view (RBV) and dynamic capabilities perspective, the research aims to uncover how firms leverage innovation to create valuable, rare, and difficult-to-imitate resources that confer sustained competitive advantage. The research design includes systematic data collection from scholarly literature encompassing peer-reviewed journal articles, books, conference proceedings, and reports, followed by rigorous data analysis techniques such as thematic analysis. Ethical considerations are paramount throughout the study to ensure the integrity of the research process. The findings highlight the critical role of fostering a culture of innovation, overcoming resistance to change, and navigating regulatory and ethical concerns in leveraging technological innovation for competitive advantage. Key insights include the importance of proactive leadership, organizational commitment, and investment in employee development for cultivating an innovative culture. Additionally, the study underscores the need for agile and adaptive innovation management practices to respond effectively to dynamic market conditions and emerging opportunities. Overall, this research contributes to a deeper understanding of how firms can harness technological innovation to enhance competitiveness and drive long-term growth in today's dynamic business landscape.

Integrating Machine Learning and Material Feeding Systems for Competitive Advantage in Manufacturing

In contemporary business environments, manufacturing companies must continuously enhance their performance to ensure competitiveness. Material feeding systems are of pivotal importance in the optimization of productivity, with attendant improvements in quality, reduction of costs, and minimization of delivery times. This study investigates the selection of material feeding methods, including Kanban, line-storage, call-out, and kitting systems, within a manufacturing company. The research employs six machine learning (ML) algorithms—logistic regression (LR), decision trees (DT), random forest (RF), support vector machines (SVM), K-nearest neighbors (K-NN), and artificial neural networks (ANN)—to develop a multi-class classification model for material feeding system selection. Utilizing a dataset comprising 2221 materials and an 8-fold cross-validation technique, the ANN model exhibits superior performance across all evaluation metrics. Shapley values analysis is employed to elucidate the influence of pivotal input parameters within the selection process for material feeding systems. This research provides a comprehensive framework for material feeding system selection, integrating advanced ML models with practical manufacturing insights. This study makes a significant contribution to the field by enhancing decision-making processes, optimizing resource utilization, and establishing the foundation for future studies on adaptive and scalable material feeding strategies in dynamic industrial environments.

GENERATIONAL MARKETING: A DEEP DIVE INTO BEHAVIOR AND CHARACTERISTICS OF GENERATION Z

In the contemporary business environment, digital marketing is a significant factor influencing behavior and decision-making. We believe that Generation is one demographic that has drawn our attention and is significantly impacted by digital marketing. A sizable and significant consumer base, Generation Z was selected as the research's target generation and category. Since the group was born amid the digital revolution, they are often referred to as digital natives. Generation Z is a socially conscious generation that places a high value on sustainability, mental health, and racial fairness while using technology to influence consumer behavior. To draw people in and keep them as a partner, it is seen to be crucial to comprehend their habits, behaviors, characteristics, and preferences.The research is mainly focused on the behaviors, characteristics and relationship of generation Z and also focused on measure the behaviors and characteristics of generation Z. KEYWORDS: Behavior , Digital Marketing, Generation Z.

Design Thinking for Reliable Digital Financial Information

The rapid changes in the finance industry regulations and fast-changing customer needs pressured banks to stay competitive. This is factored in due to the pace of innovation in technology. Banks have creative financial heads; however, pursuing efficient, customer-centric, creative work within an organisation is frequently challenging. Moreover, banks often operate in complex environments with legacy systems and processes, making conducting experiments rapidly with new ideas and technologies challenging. Likewise, banks often need more resources to invest in the right people, processes, systems, and technology to create a customer-centric core. The authors introduce design thinking as a robust methodology used in various fields, and its applications could ensure reliable digital financial information in today’s contemporary business environments. This research article explores the existing literature to identify gaps in addressing the challenges associated with digital financial information reliability. Qualitative research examines the traces of these challenges and opportunities to propose and suggest innovative solutions through design thinking principles. The authors used a systematic literature review to evaluate and examine articles, reports, publications, and more related to the research problem. The findings highlighted five key weaknesses and opportunities, supplemented by a design thinking mapping table that draws and outlines potential solutions. This research increases the knowledge of digital financial systems, paving the way for more secure and reliable financial information for customers.

Theoretical Foundation of Strategic Management and Business Growth in Nigeria

Strategic management has evolved from a military art and a traditional planning tool into a dynamic framework essential for navigating the complexities of contemporary business environments. This paper examines the theoretical underpinnings of strategic management and their application in fostering business growth, particularly within the Nigerian context. The paper explores how organizations can achieve sustained competitive advantage by integrating classical theories, such as Porter’s five forces, SWOT analysis, and the resource-based view (RBV), with contemporary models like Dynamic Capabilities and Blue Ocean Strategy. The article highlights the importance of strategic alignment with environmental shifts, emphasizing the role of strategic management in addressing market dynamics, resource optimization, and uncertainty management. This paper argues that strategic management when tailored to the unique challenges of emerging markets like Nigeria, serves as a critical mechanism for adaptability, resilience, and long-term growth. The paper contributes to the discourse on strategic management’s role in enabling businesses in Nigeria to be resilient and effectively positioned for success in a competitive environment.

Organisational and Job Satisfaction: A Decade of Research Trends, Systematic Mapping, and Bibliometric Analysis

This study presents a comprehensive systematic review and bibliometric analysis of research on organizational commitment and job satisfaction from 2014 to 2023. Using specific inclusion criteria, 295 relevant papers were identified from the Scopus database. The findings reveal a strong correlation between job satisfaction and various organizational commitment outcomes, including turnover intention, performance, and innovation. The bibliometric analysis uncovered leading journals, authors, and institutions in the field, as well as keywords and collaboration patterns. The study also highlighted some challenges in the research, such as inconsistent definitions of major concepts and geographic clustering in publication patterns. Areas identified for future research include examining new organizational structures and the impact of technology on employee attitudes. The review emphasizes the continued importance of organizational commitment and job satisfaction as critical factors in modern workplaces. This systematic review provides a valuable resource for both researchers and practitioners in the field of organizational behavior and human resource management. It offers a holistic view of the current state of research on organizational commitment and job satisfaction, identifying trends, gaps, and opportunities for future studies. The findings underscore the need for continued focus on these concepts in understanding and improving workplace dynamics in the contemporary business environment.

Editorial Note from Editor-in-Chief

In the rapidly evolving landscape of modern business, the classical approach to technological implementation has become an increasingly obsolete paradigm. Organizations that persist in maintaining rigid technological boundaries are finding themselves at a competitive disadvantage, struggling to adapt to the dynamic demands of the digital era. The traditional organizational structure, characterized by departmental isolation and fragmented technological ecosystems, is fundamentally incompatible with the interconnected nature of contemporary business environments. Siloed technology infusion creates significant barriers to communication, innovation, and operational efficiency. The infusion of technology is no longer about implementing isolated solutions but creating interconnected, adaptive technological ecosystems. Organizations must view technological integration as a strategic imperative, not merely a technical implementation. Leadership must champion a cultural transformation that embraces technological convergence, recognizing that the ability to integrate and leverage technology across organizational boundaries will be a defining competitive advantage in the digital age. The future belongs to organizations that can break down technological silos, foster collaborative technological environments, and create agile, interconnected systems that drive innovation and strategic growth.

SPECIFICS OF RISK MANAGEMENT OF ENTERPRISE TRANSFORMATION IN INTERNATIONAL BUSINESS

<p>Today, international business faces a greater number of risks than ever before. This article delves into and evaluates the risks associated with the transformation of companies operating in the international market. Transformation involves a shift in the company’s strategic approach and mindset. In the contemporary business environment, continuous changes and trends present managers with a variety of new challenges. In these conditions, managers must maintain both an internal and external orientation, make rapid decisions, be perpetually ready for new challenges and risks, and display high levels of energy and entrepreneurial spirit. For companies, this means engaging in constant transformation processes and adjusting their strategies, structures, and roles. Drawing from the analysis of both domestic and international theoretical and practical research, this article emphasizes the necessity of investigating the impact and management of risks associated with enterprise transformation in international business. The analysis includes companies from Western, Central, and Eastern Europe, as well as those from Bosnia and Herzegovina. The goal of the paper is also to compare the assessments and positioning of Bosnia and Herzegovina in transformation processes with other transitioning countries.</p>

SECURITY AND TRANSPARENCY IN FINANCIAL REPORTING: TRANSFORMATION THROUGH TRIPLE-ENTRY ACCOUNTING

<p>In the contemporary business environment, traditional accounting systems, such as double-entry bookkeeping, face increasing criticism due to growing demands for transparency and security in financial transactions. While double-entry bookkeeping remains the foundation of modern accounting practices, its limitations are increasingly evident in the context of complex business operations and the need for robust safeguards against errors and fraud. This paper explores triple-entry accounting as an advanced alternative, leveraging blockchain technology to enhance transparency, security, and efficiency. By incorporating a third party into traditional T-accounts through a unique transaction identifier (hash), the system enables both accurate transaction recording and real-time verification, significantly reducing risks of manipulation and errors. Although the concept of triple-entry bookkeeping is not new, its revival is noteworthy given recent technological advancements. These innovations introduce a paradigm shift in financial reporting, with the potential to fundamentally transform business practices. Through a case study, this research examines the practical application of this system in real-world settings, highlighting both its benefits and challenges. The findings suggest that triple-entry accounting has the potential to significantly enhance existing practices, offering deeper insights into financial operations, better risk management, and increased reliability of financial statements. This study establishes a foundation for further research, paving the way for the broader adoption of advanced accounting models. Such models are essential for meeting the escalating demands of modern business complexities.</p>

Conducive conditions for curriculum practice in teaching accounting at a rural school in the KwaZulu-Natal

The education landscape constantly evolves and brings new challenges and opportunities in teaching practices, particularly in specialised subjects such as accounting. The curriculum's adequacy and delivery significantly influence learners' preparedness for professional pathways and academic advancements. This paper presents a theoretical overview of the conditions conducive to practical curriculum practice in accounting instruction. Building on a synthesis of educational theories and empirical studies, we posit that a multidimensional approach incorporating pedagogical, contextual, technological, and evaluative components is necessary to align accounting education with the demands of the contemporary business environment. In recent years, discourse on teachers’ content knowledge, pedagogy knowledge, and pedagogical content knowledge and their influence on learners’ learning outcomes has garnered increasing attention from various stakeholders in the education sector. The theoretical framework we propose aims to support teachers and curriculum developers in fostering educational experiences that enhance learners' engagement and understanding and in applying accounting principles in a multifaceted world. Key to this framework is the integration of technology in pedagogy, the responsiveness of curriculum content to market needs, the adoption of diverse and inclusive teaching methods, and a continuous feedback mechanism to refine teaching strategies. This overview serves as a guide for promising practices and a catalyst for further research on optimising accounting education in a rapidly changing economic landscape.