Dynamic Global Business Environment Research Articles

THE ROLE OF BUSINESS AND ECONOMIC PROTOCOL IN THE ETHICS OF INTERNATIONAL ECONOMIC RELATIONS

This paper extensively explores the pivotal role of business protocol in international economic relations, delving into its historical evolution, contemporary significance, and the challenges it encounters within the dynamic global business environment. The study emphasizes the necessity for nuanced intercultural communication and highlights the adaptability of business protocol to diverse situations. Article discusses the issues of diplomatic and economic protocol and ethics, shedding light on the intricate interplay between international relations and economic activities. Diplomatic protocol, with its established conventions and rituals, plays a crucial role in shaping the discourse between nations, fostering cooperation, and mitigating conflicts. Economic protocol, on the other hand, governs the conduct of nations and businesses in the global marketplace, influencing trade agreements, investment practices, and financial interactions. The examination of these protocols within the framework of ethics becomes imperative as it explores the moral dimensions of diplomatic and economic engagements. Ethical considerations in diplomacy encompass matters of respect, transparency, and adherence to international law, aiming to promote peaceful coexistence and equitable collaboration. Similarly, in the realm of international economics, ethical principles guide decisions regarding resource allocation, corporate responsibility, human rights protection, and the fight against corruption. By delving into the ethical aspects of diplomatic and economic protocols, the article seeks to contribute to a deeper understanding of the values that underpin international interactions. It emphasizes the importance of fostering ethical practices in diplomacy and economic relations, ultimately striving to create a global landscape that values fairness, responsibility, and mutual respect. The current significance of business protocol is underscored in light of its strategic importance in facilitating effective communication and collaboration between nations and businesses. The challenges faced by business protocol in the modern global business arena are thoroughly scrutinized, addressing issues such as cultural diversity, technological advancements, and the need for constant adaptation. In summary, this comprehensive analysis contributes to a nuanced understanding of the multifaceted role of business protocol in international economic relations, shedding light on its historical roots, contemporary significance, and the evolving challenges it faces in the globalized business landscape.

Digital transformation: fresh insights to implement green supply chain management, eco-technological innovation, and collaborative capability in manufacturing sector of an emerging economy.

The increasing significance of green supply chain management in developing countries' manufacturing sectoris primarily driven by the deteriorating environment, signified by decreasing raw material resources, a surplus of waste sites, and rising pollution levels. Green supply chain management can providecompetitivenesswhile boosting a company's environmental sustainability if implemented effectively. Therefore, it is necessary to determine the effect of green supply chain management practices on the firm performance of the manufacturing sector. This research aims to determine the moderating effect of collaborative capability and the mediating influence of eco-technological innovation and environmental strategy on the relationship between green supply chain management and firmperformance. Five hundred fifty survey questionnaires aregathered from manufacturing firms ofChina. Utilizing structural equation modeling (SEM), the proposed hypotheses have been analyzed and investigated. The results show that green supply chain management indirectly affects the firm performance. Moreover, green supply chain management is positively related to environmental strategy and eco-technological innovation, which effectively enhance firm performance. The findings further indicate that environmental strategy and eco-technological innovation significantly mediate the association between green supply chain management and firm performance. Furthermore, collaborative capability significantly and positively moderates the relationship between green supply chain management and firm performance. As a result, the adoption of these factors influences firm performance positively and will assist the manufacturing sector in meeting diverse yet radically changing requirements and overcoming obstacles originating from a dynamic global business environment. Consequently, it is of the utmost importance that businesses must utilize green practices with relatively low environmental impacts. Companies can considerably maintain and improve their firm performance by reducing the environmental impact if they have effective collaborative capabilities, eco-technological innovation, and environmental strategies.

LEGAL RISKS FOR THE BUSINESS OF PERSERO’S STATE OWNED ENTERPRISE (SOE) AND THEIR IMPLICATIONS FOR STATE FINANCE

This research focuses on legal aspects, notably the risks faced by the management of state-owned enterprises which result in losses to state finances and might potentially cause cases of corruption. The constraints experienced by the Directors of SOE are induced by the established regulation of legal norms in the SOE Law and the Limited Liability Company Law. They result in the ineffectiveness of SOE Directors in the development of Indonesian economy. The study is scrutinises risk management, which enforces normative juridical methods based on primary legal materials. The research findings show that the laws regulating SOEs’ activities prove discriminatory when compared to those for privatelyowned enterprises. Moreover, they hinder integration of the economy into the dynamic global business environment, even though these types of business entities are the primary economic agents in the national economic development. Coordination of efforts is needed for harmonization of laws and regulations, so that the business risks carried out by the Directors of SOE should be very low and ensure legal certainty in managing busines.

Nexus of Transformational Leadership, Employee Adaptiveness, Knowledge Sharing, and Employee Creativity

The survival of an organization in the contemporary competitive and dynamic global business environment is associated with its creative workforce. This study explores the impact of transformational leadership (TL) and employee adaptiveness on workforce creativity. The mediating role of employee adaptiveness and the moderating role of knowledge sharing has also been tested. A simple random sampling technique was used to collect data from the 561 employees working in three star and five star hotels. Statistical techniques such as correlation and hierarchical regressions were used for testing hypotheses. To test the mediation effect, we used the statistical procedure suggested by Preacher and Hayes. The results revealed that employee creativity is initiated through TL in hotels and TL positively affects employee adaptiveness. The results of the mediating analysis confirmed the mediating role of employee adaptiveness between TL and creativity link in the context of hotel industry operating in developing nations. Moreover, the findings also revealed that knowledge sharing plays key role for TL and employee adaptiveness links. In this study, quantitative research design was utilized, and the cross-sectional method was used for data collection. Future research designs can be based on both quantitative and current qualitative analyses. The current model can be enriched using factors such as knowledge management systems, organizational structures, and digital platforms in the future.

Entrepreneurial Leadership and Managerial Sustainability

Entrepreneurial leadership has been tipped as one of the millennium solutions to challenges associated with the current competitive and dynamic global business environment. Majority of businesses operating in the localities of Akwa Ibom State in Nigeria including Ikot Ekpene and Uyo, the state capital are on small and medium scale. For decades now, Small and Medium Scale Enterprises (SMEs) are considered as an important aspect of Nigeria’s economy and this makes it quite necessary to investigate the extent to which entrepreneurial leadership behaviour may lead to managerial sustainability. Considering this fact, this study seeks to examine the effect of entrepreneurial leadership behaviour on managerial sustainability in Akwa Ibom state, Nigeria. The study employed a quantitative survey research design. This study targeted a population of 135 owners/ managers who assume leadership positions in SMEs across Akwa Ibom state. This number cuts across sectors like food processing, livestock rearing, trading, art/craft, bakery, table water, fashion and designing/hair dressing and ICT. Out of this figure 101 owners/managers were selected to represent the sample through purposive sampling technique. The cleansed data was further quantitatively analyzed by product moment correlation and multiple regressions. Results of correlation analysis reveal that there is significant relationship between all the constructs of Entrepreneurial leadership (miner behavior, explorer behavior, accelerator behavior and integrator behavior) and managerial sustainability. The result of regression analysis showed that miner behavior, explorer behavior, accelerator behavior and integrator behavior jointly contribute to managerial sustainability. This study concludes that entrepreneurial leadership behaviors of managers/owners of SMEs significantly affect managerial sustainability of such SMEs. Arising from the findings and conclusion, it is recommended amongst others that mangers/owners of SMEs should enhance their innovation capacity and expand innovative entrepreneurship.

Effective Decision Support in the Big Data Era

This study conducts a review and synthesis of the Business Intelligence and Analytics (BI&A) evolution, applications, frameworks and emerging trends with the aim to provide a summary of core concepts, a succinct but valuable description of main applications and frameworks, and an account of main recommendations for addressing the Big Data challenges and opportunities. It develops an integrated and organized view on the BI&A evolution process and presents an integrated BI&A application framework to help organizations adopt or develop the appropriate BI&A solutions to derive the desired impact in the Big Data era. This paper also elicits a set of practical recommendations to executives and leaders in organizations worldwide for interpreting the BI&A literature and applying the rich body of knowledge for IT practitioners. It traces the BI&A evolution to data-driven discovery and highly proactive and creative decision-making utilizing advanced analytical techniques with unstructured and massive data sources to cope with a highly dynamic global business environment in the Big Data era.

Compromising with de-globalization or seizing an opportunity? Implications of the COVID-19 pandemic for firms and governments

This paper is an attempt to explore the responsive national policies and business strategies based on evaluation of the impacts of COVID-19. While the world economy is recovering from the pandemic, many business activities have been dramatically depressed. The tendency of deglobalization is emerging, accompanied by the digitalization of communication and transformation of industries. It is worth considering what measures should be taken in this dynamic global business environment, as well as providing recommendations for future economic development and strategic decision-making. The governments should take appropriate measures in a timely manner to respond to the environmental challenges and better adapt to the new world in the post-COVID-19 era. Multinational enterprises are supposed to adjust their business models and respond with advanced international strategies. The research method of the paper is the literature review, based on which we have systematically analyzed the dynamics of international business and the current situation of globalization. Also rational strategic options are proposed for governments and multinational enterprises to consider.

Rethinking Quatrro’s execution strategy: capturing the small and medium-sized enterprise market

Learning outcomes The learning outcomes of this paper are to understand the supply side of the Business Process Outsourcing (BPO) model and how a firm can develop and capture a new market using Blue Ocean Strategy principles; understand how to use the four actions framework and eliminate/reduce/raise/create (ERRC) grid to develop a Blue Ocean market; evaluate three strategic alternatives available to a firm along with the benefits and challenges of each; map out the current strategy to inform possible future strategies and envision how one can use the BMC to re-invent the execution strategies of a disruptor; and discuss the opportunities for growth and the challenges therein in a dynamic global business environment. Case overview/synopsis Sri Rao, President of Market Development and Strategy of Quatrro Business Support Services (Quatrro), a BPO firm, weaved through the bustling streets of Gurgaon, India, to get to work early on a blistering summer day. It was the beginning of the new 2017 fiscal year and there was a sense of anticipation and uncertainty in the office to which he was headed. Quatrro offered outsourced finance, accounting and payroll solutions to small and medium-sized enterprises across the world, but mainly the USA. Arriving at his desk, Rao gazed out the window and reflected on Quatrro’s journey so far, the ups and the downs and the strategy for moving forward. Growth had been moderate with small deals. Local and regional Certified Public Accountant firms continued to provide stiff competition and the cost of acquiring new clients was high. There was a need to rethink Quatrro target markets and business development strategy. Quatrro’s annual board meeting was coming up in three weeks and Rao wanted to present a credible plan to accelerate Quatrro’s growth. He was worried that if the plan was not accepted by the board, any further investments in the business would be challenging and could even lead to the board directing Quatrro to divest. He believed they had run out of patience with a business that had a lot of potential but was not growing. He had one last opportunity to get Quatrro’s strategy right before his planned departure from the company in just a year’s time. Rao waited for his team to discuss their recommendations based on a presentation he had made to them two days ago. Complexity academic level Undergrad/MBAs. While most growth strategy cases focus on firms seeking to outsource services for efficiency and concentrate on value added to the core functions and competences, this case centers on the supply side and examines the BPO firm itself. It focuses on the technology service industry (as opposed to product/manufacturing), which while growing and significant is not often written about in cases, and finally, the case integrates an understanding of the Blue Ocean Strategy along with the Business Model Canvas allowing students to envision how one can use the BMC to re-invent a business strategy. It does so with a traditional Ansoff Matrix as the backdrop. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 11: Strategy.

Tools and techniques to ensure innovative management education in India

Purpose – The purpose of this paper is to outline tools and techniques to ensure innovative management education in India. Design/methodology/approach – The paper addresses the challenges in the present Indian management education and outlines a blueprint with innovative solutions. Findings – It calls for support from all stakeholders including industry, educators, students, educational institutions, government and thought leaders to innovate Indian management education as per the global standards to create world class managers and leaders. Practical implications – These tools and techniques can be customized in other countries to ensure quality management education. Social implications – The social implications of this research suggests that stakeholders must strive to ensure innovative management education to create effective managers and leaders globally. Originality/value – It overhauls Indian management education as per international standards. It explains management education from the perspective of Henry Mintzberg. It reinvents management education as per the dynamic global business environment.

A Multi-Objective Model for Location-Allocation Problem in a Supply Chain

The fast changing and dynamic global business environment require companies to plan their entire supply chain from the raw material supplier to the end customer. In this paper, we design an integrated supply chain including multiple suppliers, multiple factories, multiple distributors, multiple customers, multiple products, and multiple transportation alternatives. A new multi-objective mixed-integer nonlinear programming model is proposed to deal with this facility location-allocation problem. It considers two conflicting objectives simultaneously, and then the problem is transformed into a multi-objective linear one. The first objective function aims to minimize total losses of the supply chain including raw material purchasing costs, transportation costs and establishment costs of factories and distributions. The second objective function is to minimize the sum deterioration rate of end products and raw materials incurred by transportation alternatives. Finally, the proposed model is solved as a single-objective, mixed-integer, programming model applying the Global Criteria Method. We test their model with numerical example and the results indicate that the proposed model can provide a promising approach to fulfill customer demand and design an efficient supply chain.

Sustainability Target Pyramid A Synthesis of Sustainability and Information System

The businesses have a critical role in moving the society toward sustainability. The fast changing and dynamic global business environment requires firms to be more flexible to quickly adapt and respond to market changes. Among the forces that drive changes, requirements for corporate responsibility and sustainability are getting more urgent. During such difficult time as this economic downturn, companies are faced with hard choices to survive. Research has acknowledged that addressing sustainability issues is critical to the long-term existence and thriving of companies. The concept of sustainability makes it necessary that besides the economic categories and the operational environment protection, it should be considered the social effects of company in management actions. Sustainability business oriented can be realized through developing a corporate target pyramid in enterprise. Such pyramid will help organizations to shape their targets in accepting social, environmental and economic responsibilities. The current research tries to review the research background done till now and depict a perspective of an integrated target pyramid for both scholars and managers. Furthermore, this paper has a holistic look toward the concept of sustainable information system.

Determinants of international innovation performance in Chinese manufacturing firms: An integrated perspective

In an increasingly dynamic global business environment, it is of fundamental theoretical and managerial interests to understand how firms can successfully adapt to changing marketplaces through new product development. The article examines the impact of internal resources, external networks and export activities on the international innovation performance of Chinese manufacturing firms. The effect is tested simultaneously by drawing on data from a firm-level World Bank survey involving 998 manufacturing firms. A Tobit model is adopted to examine the export performance of new products. Findings from the hierarchical regressions demonstrate that local competition contributes to innovation, as do firms’ external networks. Firms involved in exporting can leverage their learning and this can be a key driver for innovation. Although higher R&D intensity may be hampered when local competition is high, returnee managers can stimulate the international innovation performance of firms in highly competitive environments.

Taking international business education programs and pedagogy to new heights: Fundamental questions for educators and students

As the dynamic global business environment continues to force organizations to be agile and adaptive, international business (IB) education pedagogy is transforming. Building on previous literature describing gaps in IB pedagogy, as well as unaddressed stakeholder needs, we first use our institution—the United States Air Force Academy—as an example of IB program development. In examining our program's evolution, we develop five questions that may provide insight regarding more generalizable IB pedagogy trends. To assess this possible generalizability, we explore questions related to the development of our program using self-reported, publically-available websites of the top full-time MBA programs throughout the United States. Our questions focus on the role of foreign languages, study abroad opportunities, integrative courses, capstone/thesis projects, and faculty development. Our exploration indicates that these five questions are important not only for educators developing future programs, but also for students examining potential IB programs. Additionally, our research examines a sixth question focused on the development of competitive positioning and program differentiation in IB programs. We hope to motivate future inquiry into IB pedagogy, which could inform more effective means of improving IB education.

Technology transfer through IJVs: determinants of transferor transferee relationship

In today's dynamic global business environment, organisations are increasingly using international joint venture (IJV) as a technology transfer mechanism to consolidate their market position and gain competitive advantage. Although inter-organisational exchange between IJV partners is at the heart of IJVs' collaborative management, there are very few prior studies available on IJVs in which the focal issue is the examination of IJV performance in the context of transferor transferee relationship in technology transfer. The present paper attempts to identify the various levels and directions of such a relationship, and the relationship variables that would determine the transferor transferee relationship for effective technology transfer in the context of IJVs.

A Comparative Analysis of Trends in Global Retailing in the Triad Markets

The purpose of this article is to critically examine the underlying factors contributing to the changes and developments bat have taken place in global retailing with regard to strategic planning options available in a dynamic global business environment. In particular, significant retailing trends in the Triad Markets are analyzed. The main proposition of the study is that socioeconomic, technological, political and financial considerations have all played a major part in global retail development. Within this general framework, more recent developments in the global retail industry such as active, semi-active and passive retail expansion strategies are studied.