Contemporary Companies Research Articles

MARKETING DIGITAL PARA STARTUPS: MARKETING DIGITAL PARA MICROEMPRESÁRIOS, UMA IDEIA REVOLUCIONÁRIA PARA ALCANÇAR O SUCESSO

Who never faced lines to make a payment or even to buy a certain product. Some time ago we did this, wasting hours in market lines, banks, bookstores and airports. Nowadays we can do all of this, without having to queue, without leaving home or watching a movie; reducing waiting time, being able to receive at home. All of this is in the consumer's possession, through his Smartphone device. As a result, the importance of developing and working on an action plan with digital marketing grows; because every person who has a device your company will be there too. It is possible to ask scientifically how Digital Marketing is a factor influencing consumer behavior in the Brazilian economic sector, how often consumers buy over the internet. What companies face today is not a lack of inputs (raw materials and components), or service companies. And, yes, the lack of loyal customers (followers). Contemporary companies can manufacture products beyond what customers can consume. This increases the level of competition in the competitive market, and consumers are the winners. The success of an electronic business depends on many factors. It is not enough for the company to have a welltructured website, with an attractive design and the best technologies. Companies and startups must go beyond the perception of customers, they must engender a profitable reciprocal familiarity. The company needs to define its position in the market, and envision possible future scenarios. Digital Marketing is an undeniable reality that has been joining forces with traditional commerce, a versatile means of communication that integrates sales opportunities, customer relations and positive word of mouth advertising.

The Impact of Transformational Leadership on Employee Creativity and Organizational Innovation: The Moderating Effect to Intrinsic Motivation

Organizational innovation is an important issue for companies to adapt to the changing external environment, improve the competitiveness of the organization, and achieve growth. This study aims to assess the impact of transformational leadership style and employee creativity with organizational innovation, as well as the moderating role of intrinsic motivation. One of the key skills for the growth of contemporary companies is creativity and innovation, which can boost an organization's sense of identity and job satisfaction in addition to providing significant financial advantages. However, it is difficult to maintain innovation and competitive advantage in the quickly evolving business environment of today. Thus, an important area of research in organizational management is how to enhance employee creativity and organizational innovation.

Financial stability strategies for oil companies amidst high volatility in the global oil products market

The increasing instability within the global oil sector poses a challenge for contemporary companies to devise and implement effective financial stability strategies. The aim of this study is to analyse the financial stability strategies employed by oil companies, explore alternative approaches amidst the global volatility of the oil market, and develop a methodological framework for evaluating financial strategies, utilising an alternative options matrix. The author's methodological approach is proposed: a matrix of the company's alternative financial strategies is created. In this study, data from the top 10 largest oil companies in the world for the years 2015–2019 were utilised. Exxon Mobil and CNPC exhibit the lowest level of financial stability. A sustainable growth strategy is necessary for Aramco, Rosneft, and ADNOK. Kazmunaigas should adopt a strategy focused on ensuring financial stability in the event of adverse external conditions. For Exxon Mobil, maintaining financial stability is a relevant strategy. CNPC should consider implementing a financial stabilisation strategy contingent upon favourable market dynamics. The practical significance of the research results lies in providing specific conclusions and recommendations regarding optimal financial stability strategies for oil companies and stakeholders amidst global market volatility conditions. The analysis of the alternative financial strategies matrix may serve as a foundation for managerial decision-making aimed at ensuring company resilience in fluctuating economic environments and enhancing their competitiveness.

A Critical and Comparative Analysis of the Regulation of the Office of the Chairman in Contemporary South African Companies

The role of chairman of the board of directors of a contemporary company has evolved from procedural and ceremonial to complex and demanding. This article examines the appointment, tenure, functions, and liabilities of this position, as regulated by the Companies Act 71 of 2008, the JSE Limited Listings Requirements, and the King IV Report on Corporate Governance for South Africa 2016. The aim is to ascertain whether the guidance provided to chairmen on their appointment, tenure, functions, and liabilities is clear and adequate to guide them on what is expected of them in contemporary companies. Company law in the United Kingdom and Australia is compared because this area of law has been extensively developed in these jurisdictions and may offer guidance on the regulation of the office of the chairman of South African companies. The article contends that the guidance provided to a chairman by South African legal instruments is neither clear nor adequate. It identifies several shortcomings in the regulation of the chairman and makes recommendations to enhance the South African statutory and corporate governance provisions regulating the chairman.

Employee Radical and Incremental Creativity: A Systematic Review

ABSTRACTEmployee creativity is essential for contemporary companies to survive and gain competitive advantages. Although previous studies have made efforts to identify organizational factors that improve or hinder employee creativity, a better understanding is still needed regarding the differences between radical and incremental creativity, especially the different mechanisms of how organizational factors impact two types of creativity. To address this issue, we aim to provide a systematic review through which to identify different antecedents that affect radical and incremental creativity, respectively, based on componential theory of creativity. At first, we clarified the definitions and measurements of radical and incremental creativity. Then, we categorized the antecedents of radical and incremental creativity to develop an integrative framework. Last but not least, we identified the different organizational factors regarding how to improve radical and incremental creativity. We also address several future research directions.

Association between body dissatisfaction and eating disorder symptomatology in professional dancers

The aim was to investigate the association between body image dissatisfaction and eating disorder symptomatology in professional dancers in Brazil. A total of 127 dancers of classical ballet or contemporary dance modalities from professional companies in Brazil participated. Data were collected through a self-administered online questionnaire. Multiple logistic regression showed that dancers with anorexia nervosa symptomatology had 1.13 more odds of being dissatisfied with overweight and dancers with bulimia nervosa symptomatology had 1.28 more odds of being dissatisfied with thinness, in both cases demonstrating a desire for an extremely rigid ideal of thinness. Higher scores of eating disorder symptomatology are associated with greater odds of body image dissatisfaction in Brazilian professional dancers of classical and contemporary companies.

Implementation of expert systems in the field of trade

There is currently a steady rise in interest in the development and utilization of intelligent information systems, particularly expert systems. This article explores the importance and advantages of employing expert systems in the realm of trade and business. It investigates how expert systems can enhance decision-making processes, optimize inventory management, elevate customer service levels, and provide more precise market analysis. Additionally, the article outlines typical examples of using expert systems in trade and highlights their potential for enhancing business efficiency. Successful implementation of modern technologies in the retail sector has become a dominant factor for optimizing business processes and enhancing competitiveness. Expert systems, capable of analyzing, decision-making, and automating key aspects of trade, have become an important tool for contemporary companies. This introduction proposes an exploration into the realm of expert systems and their application in trade, considering the advantages and possibilities they offer for effective management and strategic development in this field. In the modern world of trade, where competition is constantly escalating, having efficient tools for swift and accurate decision-making is crucial. The implementation of expert systems is one of the key directions that ensures process automation and enhances the level of analytics in the retail sector. This introduction elucidates the possibilities of applying expert systems in the retail industry, offering a comprehensive overview of the benefits they can bring, while also examining examples of successful implementations of these systems in practice.

ВИКЛИКИ ТА МОЖЛИВОСТІ ГЛОБАЛЬНОГО РИНКУ ІННОВАЦІЙ

The global innovation market illustrates the modern realities of economic development, where rapid technological shifts and globalization intertwine, shaping a new order of interaction among countries, companies, and scientific sectors. The paper unfolds key aspects related to the challenges and opportunities arising at the intersection of innovation and global business. The impact on innovation development is analyzed, as contemporary companies face the necessity to adapt to diverse cultures, markets, and technological standards, requiring not only the creation of unique and competitive products but also an understanding of the specifics of each region. Technological trends and challenges facing the global innovation market are examined. On the one hand, new technologies accelerate business development and facilitate the creation of innovative products. On the other hand, constant pressure on developers regarding the speed of innovation and continuous market changes create intense competition and demand constant adaptation. Emphasis is placed on the legal and regulatory context of the global innovation market. The complexity of using, protecting, and exchanging intellectual property arises due to different norms and policies in various countries, which can be a key factor in resolving disputes and either promoting or hindering innovation. Government measures can stimulate innovation through funding scientific research, developing technological infrastructure, and creating favorable conditions for the growth of startups and technology companies. Competitiveness and collaboration on the global market are viewed as a unique competition for resources, as talents and markets require new strategies that blend competition and cooperation, fostering the emergence of innovative ecosystems. The interconnection between innovation and sustainable development on the global market is explored. Sustainability becomes not only an ethical but also a strategic aspect of companies' and countries' development, determining their long-term competitiveness.

IMPORTANCE OF HUMAN CAPITAL AND ITS INFLUENCE ON THE SUCCESS OF CONTEMPORARY COMPANIES IN CDE

To define human capital, we must talk about the economic value of the professional skills that a person has, capitalized in the value of the future benefits that a person expects to obtain with his work. and, that if the financial aspect is added, we can talk about obtaining the integral wealth of people, which is what really matters to all organizations, since with it productivity is obtained, as a result of work experience as well as the degree of their training. Through a mixed investigation, applying interviews and surveys to obtain the data on which the results were interpreted, in a single study with the objective of obtaining a broader panorama of the object of study, and that through a level Descriptively, the situation is presented, which in the particular case is the importance of human capital for the success of contemporary companies in Ciudad del Este. Based on the results, it can be determined that constant training is capitalized in greater productivity of human capital, which represents greater efficiency in their daily activities. It is concluded that these companies lack adequate tools with regard to HR, and therefore do not adequately execute their efforts, however, it has been verified that they apply internal recruitment for internal vacancy, and that none of them apply a performance evaluation. to the staff, precisely because of a continuous lack of training.

OPINIONS OF EUROPEAN MANAGERS ON THE CHALLENGES OF TEAM MANAGEMENT IN MULTICULTURAL WORK ENVIRONMENTS

In contemporary companies, the knowledge and experience of both employees and managers significantly influence decision-making, operational effectiveness, and strategy implementation, especially in conditions of the continuously increasing role played by international cooperation. Multiculturalism is not only a common feature of companies which operate in the global market but also increasingly a key factor when it comes to people management. Although cultural diversity can bring many positive effects, it can also be a source of a range of problems. Thus it is so important for managers of culturally diverse teams to understand the essence of multiculturalism, to be able to manage cultural diversity skilfully, and to endorse values and adhere to principles which are highly relevant in multicultural work environments. The study presented in the article (individual in-depth interviews) was conducted among managers from six European countries. The main aim of the study was to identify challenges posed by multicultural work environments based on the opinions of managers who work with multicultural teams. The theoretical part of the article explains the concept of multiculturalism and presents multiculturalism in the context of management in contemporary work environments. The empirical part discusses the results of the interviews and the resulting conclusions. Undoubtedly, multiculturalism poses numerous challenges to managers in the area of people management, and the results of the study have confirmed that managers face considerable challenges in multicultural work environments (especially in the areas regarding managers’ factual knowledge on and preparation for the management of teams, the level of their cultural intelligence, communication, and employee motivation).

A Review of Sustainable Total Productive Maintenance (STPM)

Sustainable Total Productive Maintenance (STPM) arose in 2021 as a promising, new concept to fill the lack of sustainability in Total Productive Maintenance (TPM) and allow companies to overcome its implementation barriers. It revolves around increasing the understanding of the systems approach and contributing to setting contemporary companies’ sustainable ideology by supporting orientation toward sustainability from a sustainable maintenance perspective. However, STPM is still in its infancy and is viewed as a complement to the traditional TPM approach and is based on its pillars. Moreover, there is still a dearth of literature discussing STPM. This study aims to present STPM as a novel substitute for TPM while building its unique mechanism based on re-engineered fourth generation management (R4thGM). To pursue such a goal, 94 papers from Scopus, Web of Science, and Science Direct databases published in 2008–2023 were reviewed. This study’s novelty comes from presenting STPM as the best-suited lean manufacturing and sustainability strategy for enhancing sustainable maintenance, encouraging contemporary maintenance (i.e., Industry 4.0 technology-based sustainable maintenance), and supporting second-era contemporary companies’ orientation toward sustainability. Furthermore, based on recent studies, propositions are formulated to achieve STPM. Finally, research implications and future directions are presented.

Machine Intelligence Based Assessment of Nutritional Olfactory Features for Controlling Health Hazards Using Electronic Nose

Purpose: Purpose of this research is to carry out a machine learning intelligence based innovative method to determine quality of food which may be hazards to health if consumed by humans. This article detects human sickness by sensing nutrition that causes smells. Theoretical framework: In developing nations, people just focus on basic need of food rather than focusing on the quality and the nutritional values of food which are exhibiting hazards impact of unhealthy food on the lives of people. Many people are suffering from diabetics, cancers, cardiac problem, liver problems and stomach related health issues which are originated due to consumption of bad food. Consumers are satisfied with food quality, and more individuals are assessing it. Method/design/approach: As a methodology, an electronic nose uses chemical sensors to identify complicated odors. Standard technologies can detect gases from households, industries, and explosive materials. It cannot fulfill freshness requirements. Electronic noses, computer vision, and other sensory approaches may imitate human olfactory, taste, visual, and sensory qualities, both pleasantly and unpleasantly. Neural networks organize innovative artificial/mechanical intelligence systems to interpret fragrance recordings for human brain recognition. Inspired by human brain processing, we offer optimized feedback, centroid clustering, and self-organizing maps for machine learning systems to identify smell data. This work proposes a simulation technique based on benchmark datasets to achieve high type accuracy, precision, and recall for diverse scented records where additional information may be artificially/mechanically found. The centroid SOM research of olfaction involves investigating more physiologically and nutritionally feasible methods for mapping, understanding, and interpreting massive scent datasets for real-world applications. Results and conclusion: In all analyzed result and conclusion, the accuracy, precision, and recall of the clustering centroid with optimized feedback SOM are superior to the existing clustering approach. By simulating the data on different set of test and train data it has observed that Proposed (Cluster Centroid with SOM ) method is effective than the existing (Centroid) method. For example, 10% of test data existing method has 67.55% of accuracy and proposed method has 86.75% which is shown in result and conclusion section in details. Research implications: The research makes an effective contribution by demonstrating the potential and the need to adopt sustainable practices in the management of contemporary companies. Originality/value: The results and conclusion obtained in this research are unprecedented, innovative and relevant to the medico health community to avoid health diseases, in the context of reliability in social community suggest eating a fresh and pleasant food to avoid health diseases.

An Evaluation of Contributions of Selected Organizational and Sociological Theories to Managerial Accounting Research

Purpose: The drive of this research work was to evaluate selected organizational and sociological theories in regard to their contribution in management accounting research with the object of recognizing the gaps and areas for further study.
 Methodology: The study applied integrative review/critical review approach by relying on previous publications of which 28 publications were included in the study. Content analysis was used in data analysis.
 Findings: Contingency theory has received wider acceptance in the field of managerial accounting research. Its application has since been evidenced based on its contingent propositions which include; technology, organization structure, and the general operating environment of the organization. However, other studies suggested that contingency method has the look of being persuasive but momentary fashion and it is principally deceptive. That is, the exact and appropriate contingent elements have remained unclarified and thus the essence of in-depth theoretical, and realistic, consideration. Thus it provides a limited insight to organizational contingent factors. Moreover, Institutional theory as much as criticized of being political; it enables the organization to view itself holistically both from the angle of the task environment (technology, firm structure and work environment) and the external environment (political influences, public expectations, professional perspectives) implying management accounting programs implemented by the firm has to be in line with the social expectations of the company external clients. Resource dependency theory have highlighted on the role of governmental language, predominantly in budgeting procedures. Labour process theory has contributed toward management accounting in the sense that with the quest to shift from the old age production system to the contemporary company production; corporations required to appropriate profits. This could only be supported through employment of trained executives with knowledge in managerial accounting and book keeping. However the model has been disparaged on the foundation that its promoters believed on the adoption of the scientific approach which is simply but one aspect of the organizational view.
 Implications: The findings from the many empirical studies reviewed herein are therefore helpful in addressing the research objectives with supremacy that no single revision had done. This literature review is an outstanding way to expose gaps where more research work is necessary, and also being dire component of spawning original theoretic outlines and construction of conceptual ideas.
 Value of the Study: It contributes to management accounting research by evaluating the theories. Besides, it helped to suggest areas for further research plus offering recommendations based on the findings.

Rudiments of Sustainable Competitive Advantage in the Digital Age

Theoretical background: Progressive digitalization fundamentally changes companies’ strategies, business models, and operational activities directed to the achievement of sustainable competitive advantage and maximization of long-term company value. The recent COVID-19 pandemic has spurred even further an unprecedented acceleration in the development of digitalization processes in virtually all areas of the economy. The changed competitive reality requires modification of existing and development of new rules and tools of strategic management that will help contemporary companies to cope with the challenges associated with the new competitive landscape. The views on the ways of building a competitive advantage dominating in the literature on the subject become questionable in the light of changes related to the digitalization of the economy. In this context, the issue of defining the term “competitive advantage” in new conditions and its sources, first of all, the role of knowledge in shaping it, is of particular importance. Purpose of the article: This article aims to define sustainable competitive advantage and identify its sources in the digital economy. It also refers to the issue of new tools and areas of strategic analysis that companies should implement to formulate their strategies. Research methods: The considerations in the article are presented on the background of the extensive integrative literature review. The article uses the method of critical analysis and synthesis of opinions of other authors as well as logical inference. Main findings: The progressive digitalization of the economy fundamentally changes how modern organizations pursue competitive advantage as part of the implemented strategy. A sustainable competitive advantage should be equated with creating and capturing value rather than beating competitors. A prerequisite for sustainable competitive advantage is the development and application of innovative knowledge that creates essential value for customers in the long term. Strategic analysis in the digital age should embrace consumer needs, the organization’s network connections and data flow, the structure of platforms and digital ecosystems, the revenue streams in networks, the types of a network, and learning effects.

Organizational Dynamics in Civil Construction: Sector Study on Corporate Social and Environmental Responsibility in Companies in Brazil, Mexico and the United States of America

Purpose: This study aims to carry out a sectoral field study on corporate socio-environmental responsibility in companies in the civil construction sector operating in Brazil, Mexico and the United States of America. Theoretical framework: The bibliographic review demonstrated the results found from a comparative bias in relation to corporate socio-environmental responsibility. It also points out that companies in the civil construction sector in the three countries analyzed (Brazil, Mexico and the United States) have similar environmental and social practices, verifying the adoption of sustainable construction methods, mitigation of the generation of solid waste, as well as their best destination, reuse of water, improvement of energy efficiency, identifying the main focus on reducing greenhouse gas (CO2) emissions. Method/design/approach: As a methodology, a multicase study was carried out, making use of documentary research, through which a survey of data and information was carried out in a group of companies in the civil construction sector based in three different countries: Brazil, Mexico and the United States. United of America. Results and conclusion: In all analyzed companies there was a concern that their actions are based on international standards in order to obtain certification, highlighting among them ISO and LEED. Research implications: The research makes an effective contribution by demonstrating the potential and the need to adopt sustainable practices in the management of contemporary companies. Originality/value: The results obtained in this study are unprecedented, innovative and relevant to the scientific community, in the context of sustainability in civil construction. Keywords: Social and environmental responsibility, Construction, Organizational dynamics, Sustainable Practices, Sustainable construction methods.

COVID-19 Induced Teleworking and Future Expectations: A Systematic Review

COVID-19 pandemic crisis has brought extraordinary changes to almost all human activities. This unfamiliar situation has affected, among others, the working conditions, under which employees should keep doing their job while protecting themselves and preventing the coronavirus from spreading. As a result, working from home has been considered as a topic of high interest, and a number of empirical studies have been conducted aiming at investigating its impact on contemporary companies, organizations and their employees. The focus of this research is on the employee profile and type of organization, as well as on other factors and conditions that influence the adoption of teleworking policies. Therefore, the scope of the systematic review paper is to analyze and present the factors affecting COVID-19 induced teleworking, the perceived benefits and obstacles of this situation to employees and their firms, as well as the determinants that impact pandemic induced teleworking adjustment along with post COVID-19 intentions. The study proposes a conceptual framework where all the major parameters of firms’ and employees’ characteristics are combined with the main benefits and drawbacks of teleworking aiming at mapping the current and post COVID-19 working from home situation.

MANAGERIAL ECONOMICS WITHIN THE CROATIA’S INSURANCE INDUSTRY

Modern companies need to operate in constantly changing conditions and uncertain changes. Changes started from the fundamental way of doing business, which nowadays is becoming more and more based on digital tools, where new technologies are constantly being implemented, where care for the environment is a necessity, where is a constant striving towards doing green and sustainable business. The production factors labor and capital, which used to be the most important in production, are complemented by knowledge as a production factor that leads all changes in the company. The economy erases its national borders and becomes globally spread. Before business was based on profit, but now business is changing according to socially responsible principles and rules. The previously mentioned changes are taking place in parallel with climate changes, natural disasters that have affected Croatia as well as some other parts of the world, the COVID-19 pandemic (2020.-2021.) and the crisis it has brought, rising inflation (2022.), the war in Ukraine (2022.) and numerous other uncertainties that tomorrow will bring. People realize that it is necessary to be insured, but sometimes just after the accident occurred. All modern companies, including those within the insurance industry, must adapt their operations to all these new challenges and changes. It is the management that plays an important role in enabling business adaptation to new circumstances and further development of the same. Insurance as such has an important role in all of this, because from insurance industry it is required to become more than ever guarantee of stability and economic growth. Although insurance began as an activity based on goodwill and mutual assistance of participants in an informal communities, nowadays it has developed into an extremely complex and demanding activity that protects people and their property. The basic task of insurance companies is distribution of risks from one insured, to all that are insured, and compensation payment of money based on concluded insurance contracts. Profit is still goal by which a company is run, but only profit is not enough, because the interests and needs of wider social communities are also important and needs to be satisfied. The role of managerial economics, which is the core focus in theoretical sense of this paper, is in identifying and predicting possible changes and accordingly suggesting to management how to adapt business to new challenges. Croatia osiguranje as a company with the largest market share in the Croatia’s insurance industry was in focus in the whole paper. With inductive and deductive methods are drawn conclusions about management aspects of contemporary companies, as well as the measurement of the business result of insurance companies using the example of Croatia osiguranje company.

Radical and Incremental Creativity: a Systematic Review

Employee creativity is vital for contemporary companies to survive and develop in the VUCA era. Although numerous research has contributed to employee literature by examining organizational factors that improve employee creativity, a better understanding is still needed regarding the differences between radical and incremental creativity, especially the different mechanisms to impact two kinds of creativity. To address this problem, we aim to provide a systematic review of radical and incremental creativity by a) clarifying the definitions and measurements of radical and incremental creativity; b) identifying the antecedents of radical and incremental creativity and developing an integrative framework; and c) comparing the differences regarding how to improve radical and incremental creativity. We also address several future research directions in the end.

The legal and economic subsystem ensuring the financial management of the enterprise

Considering that companies play a decisive role in the destiny of every country, evaluating their financial dimension is of particular actuality. Funding ensures the necessary volume of resources for common use in the companies and for their development in perspective. Thus, in this article, the author justifies the importance of studying the economic and legal aspects, pertaining to the financial management of the company, in particular, pertaining to the company’s financial system, which involves methods, levers, tools and procedures for the creation, collection and management of capital. This system is of particular usefulness in the organization and management of financial activity and are moved using specific, particular techniques that are employed in the processes of creation and development of financial fluxes and cycles, of capital, in establishing and the deployment of monetary surplus, in forming and covering the necessary funding of the economic agent, etc. Thus, we will showcase general theoretical approaches referring to the company’s financial system and the impact of financial management on the process of fixing and achieving the goals of contemporary companies.

Intercultural Management as an Important Aspect of Modern Managers’ Work: Educational Challenges

The issue of intercultural management has become particularly pertinent because of globalization and the internationalization of economic activity undertaken by contemporary companies. Intercultural management and its challenges are extensively analysed in numerous Polish and foreign publications. The significant role played by intercultural management primarily stems from the tremendous impact it exerts on the efficient functioning of multicultural teams, the relationships between the people in these teams, and their communication and motivation. Moreover, at present it is a crucial aspect of the everyday work of managers operating in culturally diverse work environments. The article is of a theoretical nature. The first part describes the role and importance of manager values in the context of cultural diversity in their work environments, followed by the presentation of the concept and meaning of intercultural management. Next, the impact managers exert on the management of culturally diverse teams in modern organizations is analysed. The final part describes selected challenges connected to educating and training modern managers to work in intercultural work environments. The aim of the article is to demonstrate the role and importance of intercultural management as a vital aspect of modern managers’ work and to identify educational challenges related to this area.