Drop In Sales Research Articles

Fritter packaging design to increase the sustainability of micro, small, and medium enterprises

Fritter is the traditional food of the people in Indonesia and is very popular and well-liked because of their crunchy, delicious taste, not to mention the affordable price. Fritters are generally sold by street hawkers, a type of business categorized as micro-enterprises. Due to the COVID-19 pandemic, fritter sellers have experienced a drastic drop in sales, because buyers doubt the hygiene of the fritter offered, especially the packaging used. Micro, small, and medium enterprises are the target of the Indonesian government to be supported and empowered. To maintain the sustainability of their business, the efforts that can be made are to design packaging that ensures food hygiene and accommodates customer needs. The design of packaging for the fritter is done based on interviews and the Quality Function Deployment method to accommodate customer needs. The new packaging is designed using thin cardboard covered with kitchen tissue. This packaging improves the function of ordinary packaging, which is more hygienic, absorbs oil and moisture, can be closed tightly, is more durable, and can store leftovers that are not eaten immediately. The packaging is also more eco-friendly because it eliminates the use of plastic bags. Not much research has been done on fritter packaging, so this research is expected to contribute to providing better fritter packaging.

Brazilian Gastronomic Capital in the Context of the Covid-19 Pandemic:

The SARS-CoV-2 virus (coronavirus) is a pathogenic agent that affects the respiratory and gastrointestinal tract responsible for the pandemic that started in December 2019 in China. In the city of São Paulo, the Municipal Decree 59.285/2020 suspended face-to-face service to the public in different establishments, directly affecting the Food Service. The reopening of the commerce, announced on June 10, 2020 by Municipal Ordinance No. 625/2020, originated from Decree 59.473/2020, established challenges: requirement of security protocols and service limitations. The city is recognized as the gastronomic capital of Brazil for the volume of restaurants and gastronomic diversity. As an important part of the local economy, the restrictions generated severe impacts in the sector. This article aims to identify and analyze, through qualitative exploratory research, perceived changes and perspectives for the segment of upscale contemporary restaurants in the city of São Paulo. A literature review, documentary research, and consultations with chefs and Experts in the area were carried out using a semi-structured script. The sample was by convenience and counted on 8 respondents. The main results were: a drop in sales with layoffs and closing of businesses; adjustments in menus for new systems (delivery and take away); challenges in the process of recovery involving financial maintenance of the business and regaining customers.

Pemanfaatan Digital Marketing untuk Memperluas Strategi Pemasaran Produk Furniture dari Bahan Kayu Rubber

The COVID-19 pandemic, which has affected Indonesia for the past three years, has had a significant negative impact on a number of industries, including the Micro, Medium, and Small Enterprises (MSME) sector, which has been particularly hard hit. Pekanbaru City has 105,445 MSMEs, with data indicating that there are as many as 1,034 MSMEs, which produce a range of goods used by the community, including furniture products and various wood-based office and home furnishings. Of course, if development is carried out for MSME wood craftsmen, this is a potential aspect for the City of Pekanbaru. UMKM Furniqa Woodcraft as a raw material to create furniture items like chairs, tables, cabinets, and various other handicraft products uses rubber wood. However, there has been a significant drop in sales since the Covid-19 pandemic, so a solution must be found. In an effort to increase product marketing, service activities performed include training and assisting with managing Digital Marketing. This activity is implemented using a variety of approaches, including the Interview and Discussion Method, the Training Method, and the Evaluation Method. The evaluation of the implementation of digital marketing training and mentoring showed that employees at Furniqa Woodcraft had increased knowledge competence by 75.875%.

The Influence of Marketing Strategy on Marketing Performance from a Management Perspective in the Disruption Era

The world continues to develop and change, and everything is digital-based in the current era of disruption. The retail industry is one of the business sectors most severely impacted by the COVID-19 pandemic and the disruption era. Numerous businesses or retail issuers also see a drop in sales and even suffer losses. The research aimed to evaluate the most successful marketing tactics toward marketing performance in the disruption era from a management perspective. The major data used came from questionnaires given to management with digitized or digital marketing. A total of 282 data were collected using the purposive sampling technique to determine the respondents in Denpasar City. Structural Equation Model (SEM) analysis was employed in this investigation. The research outcomes are strategies that effectively influence marketing performance in the disruption era, including marketing mix strategy, online affiliate marketing strategy, and social media strategy. The marketing mix strategy cannot be abandoned despite changes in the disruption era. There can only be a change in strategy using digital marketing media. The research novelty lies in its findings, which support the Resource-Based View (RBV) theory, the marketing tactic employed to enhance marketing effectiveness in the disruption era. The practical implications include policy recommendations for business management and marketing methods to improve marketing performance in the disruption era.

Feasibility Study for Investment as Agent (Case Study: PT. Tirta Chemoil)

After the financial sector underwent a dramatic transformation in 2020, primarily brought on by the COVID-19 Pandemic, certain areas of the market have recovered while others are still struggling to recover from the financial losses brought on by the pandemic. Despite the drop of sales, and the growth trend was declining. PT. Tirta Chemoil show a good trend of oil sales that shows it is gradually increasing from 2018 which means that oil industry is generating a good revenue to the company. Thus, being told that there is an opportunity to be an agent of brand R, the stakeholder asked me to do the financial feasibility study to see whether their investment are worth it and able to generate a return in 10 years ahead. The research objectives on this study mainly about the feasibility of the company invest in being an agent for the lubricants oil brand. The feasibility study mainly use the indicator on discounted cash flow (DCF) such as net present value (NPV), internal rate of return (IRR), Profitability Index (PI), and payback period. This feasibility study use sensitivity analysis to see the effect on the change of price and quantity to the generated NPV, also use monte carlo analysis to complete with the simulation analysis. Lubricants industry in Indonesia is growing year to year and projected to generate a constant growth on the next few years. The segmentation is all of the industrial oil, targeting West Java market especially industry that use lubricants as the main component for their machinery, and positioning in a premium grade oil. The generated NPV is Rp 5,394,761,715.48, IRR 46%, PI 5,94, and payback period in 4 years. The conclusion is PT. Tirta Chemoil should take the chance to invest in the new product with lowering the initial investment and Capital expenditure so that the payback period can be faster and it can generate more revenue.

Оцінювання ефективності диверсифікування географічної структури зовнішньоекономічної діяльності в умовах євроінтеграції

An analysis and assessment of factors influencing the effectiveness of diversification of the geographical structure of foreign economic activity of "NOVA POSHTA" LLC was carried out. The essence of the concept of diversification is determined, its types and features of this strategy of de-veloping new markets are given. The prerequisites for the implementation of the strategy of geo-graphical diversification of foreign economic activity, the opportunities and threats that may arise during the expansion of activities in the EU markets are outlined. Diversification of foreign economic activity is caused by increasing the dynamism of enter-prise development, changes in demand and the emergence of new industries on the market. In such cases, the diversification makes it possible to compensate for the drop in sales in one market by in-creasing it in other markets. It also contributes to attracting foreign investments and increasing the competitiveness of the enterprise. All types of geographic diversification open up new business op-portunities for enterprises - business entities can make maximum use of resource potential and pro-duction capacity, distribute commercial risks of dependence on one market and minimize them. Nowadays, logistics as an industry has great potential and prospects. According to the fore-cast, until 2024, the world market of logistics services will grow annually by 7.5% in monetary terms. The main players on the market in Ukraine are "NOVA POSHTA" and "Ukrposhta". This is due to the fact that more and more people are switching to online shopping. As a result of the conducted research, it was determined that in modern business conditions, the strategy of diversifying the geographical structure of foreign economic activity is becoming more and more relevant, but it must be supported by empirical data coming from the marketing monitoring system. Assessing the necessity of diversifying the geographical structure of foreign economic activity in case of "NOVA POSHTA" LLC requires consideration of many factors, especially resources, fi-nancial capacity and taxation. Taking them into account the recommended directions for the imple-mentation of the GoToMarket-strategy for "NOVA POSHTA" LLC are given in the article. The stages of marketing strategy implementation considering national and international market fea-tures and service consumption models of "NOVA POSHTA" LLC in conditions of diversification of the geographical structure of foreign economic activity are outlined. Recommended business indica-tors for evaluating the effectiveness of diversifying the geographical structure of foreign economic activity of "NOVA POSHTA" LLC are identified.

Micro, Small & Medium Enterprises’ need for digitization to counteract COVID-19: From “nice-to-have” to “must-have”?

ABSTRACTThe impact of COVID-19 on Micro, Small & Medium Enterprises (MSMEs) has been devastating. Digitization has been one of the core strategies to cushion the impact of the pandemic. Based upon a questionnaire distributed in October 2020 to a sample of 345 US, 100 UK and 100 Indian MSMEs, we empirically investigate the determinants of MSMEs’ digitization as a strategy to confront the pandemic. Prior digital experience and company size seem to be predictive of the ability to implement new digital strategies during the pandemic. Our data also show that digital MSMEs expected lower sales drop caused by COVID-19. As policy implications, governments should target non-digital, smaller MSMEs to help them engage in digital transformation.

Impact of Digitalization of Sales on the Profitability of the Restaurant Industry during COVID-19

The COVID-19 pandemic had a severe impact on the restaurant industry. Temporary shutdowns and seating capacity restrictions led to a sharp drop in sales. In this scenario, digitalization emerged as a crucial strategy for business survival, offering opportunities to increase restaurants’ competitiveness and revenues. This study examines the financial profitability of restaurants during 2020, comparing establishments with digital sales tools to those without. Multiple linear regression results indicate that liquidity, sales growth, restaurant size, and having a website directly influenced profitability. In addition, restaurants with their own online ordering and home delivery services or associated with delivery platforms experienced lower profitability losses. These findings contribute to our understanding of the role of digitalization in the restaurant sector during the pandemic, providing valuable practical and theoretical implications for the industry in similar contexts.

Symmetric and Asymmetric Effects of Exchange Rate on Indonesia Stock Prices

Understanding the effect of exchange rates on stock prices is essential essential because of how they are tied to various aspects of the economy. This study examines the symmetric and asymmetric effects of exchange rate changes on stock prices in Indonesia using both auto regressive distributed lag (ARDL) and nonlinear ARDL (NARDL) techniques. To determine short run and the long run association between the study variables. This study using Indonesia monthly data collected from January 2022 to December 2022. The study discovered a long-run equilibrium for both the ARDL and NARDL models, showing a symmetric short and longrun relationship between exchange rates and stock prices. Exchange rates have a negative effect on stock prices, which lowers investor trust in the market. Even in linear and nonlinear analysis, inflation has a negative impact on stock prices over the and long terms. High inflation can reduce consumer purchasing power, which can result in a drop in sales and profitability for businesses that significantly rely on consumer spending. authorities and investors require taking consider the relationship between exchange rates and stock prices to manage foreign exchange and stock markets.

COVID-19 and the restaurant industry in Jalisco, Mexico

ObjetivoEste artigo estuda o efeito da desaceleração econômica COVID-19 na indústria de restaurantes em Jalisco, México, identificando variáveis específicas do negócio que melhoram/pioram as chances de fechamento permanente dos restaurantes.DesenhoOs dados de uma pesquisa randomizada com 438 restaurantes realizada em outubro de 2020 em Jalisco, no México, são analisados por meio de um modelo de regressão logística binária em que a variável dependente retrata a percepção do dono do restaurante sobre a possibilidade de fechar definitivamente o negócio por causa da COVID-19.ConclusõesDemissões e grandes quedas ano a ano nas vendas aumentaram as chances de fechamento definitivo em 12,7 e 5,5 vezes, respectivamente. Ao mesmo tempo, ser uma pequena empresa teve um efeito protetor contra o fechamento. Por exemplo, um restaurante com 6 a 10 funcionários e 11 a 20 lugares, respectivamente, teve 87,9% e 45,1% menos chances de fechamento permanente do que um restaurante de tamanho diferente. Há também um elemento de legado na resiliência dos restaurantes. A cada ano que o negócio é aberto, tem chances 2,5% menores de fechamento definitivo.Implicações práticasEsses resultados pedem apoio financeiro do governo para o setor de restaurantes em extrema dificuldade financeira e ajudam a entender as características específicas do negócio de restaurantes resilientes quando a liquidez desaparece, como na crise econômica COVID-19.OriginalidadeEste estudo preenche uma lacuna na literatura sobre o estudo do efeito do COVID-19 na indústria de restaurantes no México, que é pouco estudado. Além disso, analisa dados no período de recuperação após a primeira onda de COVID-19, fornecendo um cenário único para estudar variáveis-chave para a resiliência dos restaurantes.

Stagnation and renewable growth of enterprises: an empirical analysis by sectors of the Russian economy

An unfavorable external environment requires an emphasis shift in economic researches of enterprise development from factors and mechanisms of growth to the analysis of stagnation processes and the search for mechanisms to enter the path of growth after stagnation. The purpose of this work is to study the intensity of the processes of stagnation and subsequent renewable growth of enterprises in the context of a wide range of sectors of the Russian economy. Signs of stagnation or drop in sales are revealed for 2013–2017, renewable growth – within 4 years after the stagnation period. The research methods are the calculation of economic coefficients and the identification of differences between them using methods of mathematical statistics. It was found that in an unfavorable external environment, significant proportion of Russian enterprises showed signs of stagnation or drop in sales. Certain advantages are shown by high-tech industries, in which the intensity of business stagnation was lower. The most acute period of the crisis was the period 2013–2016. In 2017, there was an adaptation of business to unfavorable environmental conditions, and the share of stagnating enterprises decreased significantly. Calculations showed that the share of enterprises demonstrating long-term renewable growth was at a low level. It reduces their attractiveness to private investors. The “age” factor can be recommended as a significant criterion for investors when choosing firms for financing: young enterprises are less susceptible to stagnation and more likely to enter the path of growth after stagnation.

Role of Family and Survival Strategies of Micro-Family Food Business during COVID-19 Pandemic

This study aimed to investigate the challenges faced, and strategies adopted by micro-family food businesses (MFFB) in Malaysia and examine the family's role in managing such businesses during the COVID-19 crisis. A qualitative research approach was employed, using semi-structured interviews with MFFB owners. The interviews ceased after six participants, ensuring data saturation and the interpreted data's trustworthiness is explained. The findings revealed that MFFB faced multiple challenges, including a drop in sales, business closure, financial instability, and pressure on fixed costs. Besides, this research captured several unique survival strategies adopted by the MFFB owners, such as generosity towards customers, changes in operation, online advertisements, customer satisfaction surveys, maintaining food quality and prices, initiating takeaway orders, and collaboration with food aggregators. The results indicate that task management, responsibility, and reliance are essential to family-owned businesses as significant business strategies. It implies that family relationships play a significant role in the business's direction and business survival; future directions might compare the results to a larger business capacity. This study sheds light on the role of families in managing MFFB during the COVID-19 pandemic and provides practical implications for policymakers, business owners, and practitioners to support MFFB in overcoming challenges during unexpected adversity. By better understanding the challenges faced and strategies adopted by MFFB, it is anticipated to gain greater insight into how the Malaysian food business can become more resilient in the future.

Green management, access to credit, and firms' vulnerability to the COVID-19 crisis.

The online version contains supplementary material available at 10.1007/s11187-023-00759-1.

The Influence of Strategic Agility on Organisational Performance

Organisational performance has become the main issue as organisations are facing intense challenges in the dynamic business environment. Organisations need to have the strategic agility to stay competitive in the current volatility, uncertainty, complexity, and ambiguous (VUCA) environment. Although many studies have been carried out on organisational performance, organisations are yet to achieve the organisational performance that is expected due to the lack of strategic agility in the dynamic business environment. Many organisations are struggling with the sizeable drop in sales, and some have closed their business, especially during the Covid-19 pandemic. Strategic agility has yet to be constantly addressed in the literature, even though it is critical for organisational performance that is crucial for business sustainability. This study applied positivist ontology, quantitative methodology, and empirical epistemology. It was cross-sectional and used a hypotheses approach in a one-time online survey data collection within 2 months.121 responses were collected from electrical and electronics manufacturing-based organizations in Malaysia. The result indicated that strategic agility has a significant influence on organizational performance as per propagated by I-TOP Strategic Agility Model. Attributable to the unavailability of the full details of the population, the data was collected via convenience non-random sampling technique. Thus, there could be some bias in the data gathered. Practitioners could focus on Strategic Agility comprises Awareness, Decision Making and Implementation to manage the VUCA environment, to optimize the organizational performance. Strategic Agility is crucial for organizational performance as per propagated by I-Top Strategic Agility Model.

The Effect of Digitalization on the Sustainability of Malaysian SMEs

In many developing countries SMEs are considered as one of the main contributors to their economic growth. Despite this achievement, SMEs across different sectors, face various challenges and issues, including those SMEs in Malaysia. Covid-19 pandemic is one of the most recent issues that particularly affect the business operations Malaysian SMEs. Due to the implementation of the Movement Control Order (MCO), Malaysian SMEs struggles in handling the situation which caused limited supplies, huge drop in sales, less cash flows, and restrictions on face-to-face dealings. Enormous number of Malaysian SMEs have discontinued their business operations and failed to survive during this critical juncture. The phenomena alarmed the concern over the sustainability issue of SMEs. Sustainability requires businesses especially SMEs to be more profitable and respond faster to market changes. SMEs' sustainability would be attained if their resources are more sufficient and flexible. In responding towards sustainability issues during the uncertain environment, many SMEs have adopted technological advances and digitalization. Although initiatives in adapting technology existed among the SMEs and have proven to be valuable in supporting SMEs competitiveness, many faced failures in successfully adapting it due to various challenges. Digitalizing SMEs activities are challenged by the need for large capital, lack of specific resources, lack of knowledge, insufficient funds, inadequate planning and technological incapability. This paper deliberates the importance of having dynamic resource capabilities in ensuring a successful adaptation of digitalization by SMEs. The discussion is extended on the need of dynamic capabilities in handling uncertain issues, which eventually determines their sustainability.

Distribution of state aid for medium-sized enterprises in Poland during COVID-19 crisis

Purpose – The aim of this study has been to provide a rationale for state aid granted to medium-sized enterprises in Poland. The fundamental point raised in the study became the answer to the question of whether the companies that received aid actually needed it. Research method – In their research, the authors used a comparative analysis of the financial situation of companies that obtained COVID state aid with that of companies not covered by COVID state aid. Results – The research shows that the aid was provided not only to the companies that needed it. At the same time, more than 30 per cent of medium-sized enterprises that experienced a drop in sales did not receive such assistance. This demonstrates the imperfect distribution of COVID state aid. Originality / value / implications / recommendations – The value of the research lies in the combined use of COVID state-aid data and information on the financial condition of medium-sized enterprises. The study covers more than 75% of the number of medium-sized enterprises in Poland.

Plan of action required for the automobile sectors to deal with disruptions: A resources based and resource dependence view

Many industries were seriously impacted by the COVID-19 pandemic, and they’re now attempting to restore. The automotive sector also has been adversely affected. There has been a drop in sales, a drop in manufacturing, a workforce shortage, a decrease in export markets, and a component scarcity. This study explores strategies for revitalizing the automotive supply chain (SC). A literature review was performed for this, and five strategies to help the automotive industries were outlined. This study uses the resource-based view (RBV) and resources dependence theory (RDT) to identify the strategy. In the automotive industry, a questionnaire is being formed for survey-based studies. Exploratory factor analysis and structural equation modelling are used to examine the data. The developed model fit the data well, and the hypothesis is accepted.

Impact of COVID-19 on Croatian mariculture: Findings from the first national surveys

An overview of the negative effects of the COVID-19 pandemic on the mariculture industry of the republic of Croatia is provided. An initial online survey was circulated early after the onset of the pandemic and a follow-up field survey was performed a year into the pandemic. The surveyed companies varied in size (micro to medium enterprises), location (north, central and southern coast) and cultured organism (European flat oyster, Mediterranean mussel, European sea bass, Gilthead sea bream and/or Bluefin tuna) and were asked questions on the subject of economic and job losses, aquaculture supply chain processes and implemented or proposed measures for mitigation of negative effects. Results from the online survey showed higher economic loss than job loss, but companies reported increased job loss in the period leading to the field survey. Most companies reported reductions in sales and avenues of procurement, which, in addition to direct stressors, indirectly affected business processes. Micro enterprises fared well due to their part-time nature, low capital investments and running costs, while small to medium enterprises were under the most pressure. Large enterprises were barely affected as they had secure local and/or international distribution chains and dominated the market. Producers most affected were those that relied on the HoReCa market for product placement and/or had difficulty coping with existing stressors. Bivalve producers generally experienced a higher drop in sales than finfish farms and companies with specialized production were not able to adapt to market changes to the degree that more versatile businesses seemed capable of.

Application of risk management technology in the formation and implementation of retail enterprises marketing strategy

Uncertainty, new modern challenges, the nascence of new risks and the strengthening of existing ones require the use of adequate risk management technologies in all management processes, including the development of marketing strategies. This issue is especially relevant for retail companies that have faced a drop-in sales volume due to the emergence of new risk-generating factors. The purpose of the paper is to determine the features of the application of risk management technology when choosing a marketing strategy of retail enterprises, to identify the main types of risks and to establish their priority at each stage of its development. To achieve the goal the methods of logical generalization, analysis and synthesis, survey, comparative analysis was used. It was determined that the main risks that should be taken into account when developing the marketing strategy of retail enterprises include sales, resource, information, organizational, price, logistic, distribution, commodity, marketing communications, HR risks. A survey of retail enterprises marketing staff in the Kharkiv region was conducted to establish the relevance of risks types to specific stages of marketing strategy development. The respondents were asked to determine the importance of the risks that have the greatest impact on the implementation of the marketing strategy. It was outlined that when developing a product strategy, product, price and sales risks are the most significant; for price strategy – price, resource and logistics risks; for sales strategies – communication, information and sales risks; for promotion strategies – information risks. When developing a marketing strategy for retail enterprises, it is proposed to allocate risk management to a separate management function. Management methods should be based on the exchange of risk information and monitoring results. Risk management technology is developed for each enterprise taking into account its specifics. Keywords: marketing strategy, risk management, types of risks, marketing risks, retail, management.

Fingerprint Cards CEO steps down as sales drop 60%

Fingerprint Cards CEO steps down as sales drop 60%