Effective Business Strategies Research Articles

How to Survive in the Shadow of Sharing Economy Giants: Business Model Innovation for Small and Medium-Sized Platforms

This study aims to explore how small and medium-sized platforms in the sharing economy can gain a competitive advantage in a market monopolized by giants. Taking China’s ride-hailing industry as an example, the k-means clustering method was employed to compare and analyze the characteristics and differences of 207 small and medium-sized platforms based on the framework of the business model canvas. An empirical typology comprising four representative successful business models of small and medium-sized ride-hailing platforms is extracted from the dimensions of key partners, value propositions, customer segmentation, and cost-revenue structure: high-end business platforms, Minibus-hailing platforms, Intercity carpool platforms, and Aggregation mode platforms. The results show that small and medium-sized platforms in the sharing economy can rely on their own characteristics and advantages to seek new potential development directions and gain development space by constructing value propositions and operating models that are different from industry giants. Specifically, it is necessary to further implement refined market identification and segmentation to continuously develop differentiated competitive advantages. In particular, more effective and open business strategies should be explored and practiced to greatly expand the network effects and business boundaries of small and medium-sized platforms, thereby significantly enhancing their competitiveness in the ride-hailing market. This study provides a new perspective on the reconstruction of market exchange in the sharing economy through the prism of small and medium-sized digital platforms and has certain important theoretical significance for supplementing and advancing existing research.

Analisis Usaha Jasa Seventeen Voucher Sebelum dan Setelah Dilakukannya Penerapan Business Model Canvas

This research discusses the application of Business Model Canvas (BMC) on Seventeen Voucher service business before and after implementation, using SWOT analysis to identify strengths and weaknesses. The study aims to provide insights for business owners in developing effective business strategies and improving customer satisfaction. The data was collected through observation, in-depth interviews, and documentation, and analyzed using qualitative and SWOT analysis methods.The results show that the target customer segment is students in and around the campus, the value proposition is providing convenient services for internet-related needs, and the channels used are WhatsApp Business andFacebook. The study also identifies areas for improvement in customer relationship management and cost structure.The research discusses the evaluation of the Business Model Canvas (BMC) implementation in Seventeen Voucher service business and its analysis using SWOT analysis. The study found that affordable prices, promotions, and social media usage for promotion are factors that attract customers. Quality of service, reliability, responsiveness, and assurance are also important factors in customer satisfaction. Pricing is determined by observing the market and adjusting to customerdemand. The BMC helps simplify and communicate business strategies effectively. Overall, the study provides valuable insights for business owners in developing effective business strategies and improving customer satisfaction. The use of the BMC and SWOT analysis methods can help businesses identify their strengths and weaknesses, and develop strategies to improve their performance. The findings of this study can be useful for businesses in various industries, especially those targeting student customers and in the business progress.Keywords: Analysis, SWOT and Business Model Canvas

SMM-НЫҢ ИНТЕРНЕТ-МАРКЕТИНГТЕГІ РОЛІ МЕН МАҢЫЗЫ

Marketing influences the formation and growth of demand for goods and services, optimization of supply, development and implementation of effective business strategies. Internet marketing is an integral part of e-commerce. This is also called online marketing. Therefore, this article examines the role of SMM as an effective advertising tool in Internet marketing, identifies its tools and analyzes the advantages and disadvantages.

Proposed Business Strategy for Law firm (Case Study of RP)

This paper addresses the business issues faced by RP, a mid size law firm tiered 4 in Indonesia, including unnecessary fixed costs associated with renting a large office space, stagnation in rankings by legal 500 and IFLR, and challenges in maintaining client relationships and service quality amid growth. The author aims to conduct research on the law firm industry to analyze and understand the specific conditions of RP. The research seeks to propose effective business strategies to help RP generate more revenue, regain its original market position, and overcome the aforementioned challenges. By thoroughly analyzing RP’s current situation, this study aims to identify the necessary business solutions that will enable RP to meet client needs, enhance profitability, and gain a competitive advantage in the legal market. The findings and recommendations from this research are expected to provide valuable insights for RP and contribute to the advancement of strategic decision-making within the law firm industry.

Hotel guests’ intention to stay during the pandemic: A comparison of frequent versus infrequent guests

The hospitality industry has been greatly affected by health-related crises due to outbreaks of new diseases. Given the high uncertainty faced in these crises, hoteliers need to understand guests' risk perceptions and how they affect their businesses. By adopting the protection motivation theory, this study explores the differences between frequent and infrequent hotel guests in terms of risk perceptions and intentions to stay at a hotel. Data were collected via an online survey and analyzed employing PLS-SEM. The results indicate that perceived vulnerability negatively influences guests' intentions to stay during a pandemic whereas self-efficacy and hotel's response efficacy show positive effects. The multigroup analysis results show that frequent guests relied on perceived severity, self-efficacy, and response efficacy in decision making, while infrequent guests depended on both perceived vulnerability and hotel's response efficacy. These findings provide insights for hotel managers on effective business strategies for both guest groups.

Forecasting Pendapatan UMKM: Strategi Tiga UMKM Unggulan di Kalurahan Hargorejo Dalam Kontribusi Terhadap Kalurahan Hargorejo, Kapanewon Kokap Kulon Progo Menggunakan Metode Arima

This research aims to forecast the income of MSMEs (Micro, Small and Medium Enterprises), namely Batik Ngudi Rejeki, Geblek Mbak Yuni, and Better Snack in Hargorejo Village, Kapanewon Kokap, Kulon Progo using the ARIMA (AutoRegressive Integrated Moving Average) method. MSME income data from 2019 to 2022 is used in this analysis. The ARIMA method is used to identify patterns and trends in revenue data, as well as predict future earnings. The results of the ARIMA analysis show forecasting the income of MSMEs Batik Ngudi Rejeki, Geblek Mbak Yuni, and Better Snack in the contribution of the Hargorejo, Kokap, Kulon Progo Villages for the 2023 period. The results of this forecasting can provide insight into the development of MSME income in the future and become a reference for business owners in more effective business planning, decision making, and strategy development. The data used is historical data on MSME income in a time series, where the process is analyzed using statistical software Eviews 12 to produce an accurate forecasting model.

Optimizing Parcel Locker Locations in a City Crowd Logistics Network

There is a growing market for crowd-shipping (CS), which hires people to transport parcels on their regular commutes. This paper considers a hybrid CS operation that hires crowd-shippers and regular drivers (RDs) in a physical internet environment. A city crowd logistics (CCL) network is designed to serve business-to-consumer logistics demand through solving a mixed-integer linear program of a parcel locker location assignment problem. The problem minimizes the total cost by optimizing the placement of parcel lockers and the movements of parcels. As an input to the program, the spatial distribution of potential crowd-shippers is analyzed by leveraging a behavior model and data that combines household travel survey data from the Greater Toronto Area (GTA), Canada, and Canadian census data. Parcel demand is simulated based on the proportions of retail employment and the population of the corresponding planning district in the GTA. The numerical results reveal that optimal parcel locker locations are more likely to be placed in Toronto while less likely to be installed in Durham and Halton regions. Concerning the service levels of the proposed network, it is found that a CCL network can provide more stable and cost-effective services when the parcel demand level is higher. The hiring of RDs is necessary to service some regions with low crowd-shipper supply. Insights from this study can help logistics companies to develop an effective business strategy for a hybrid CS operation system.

The role of traditional aspects, health consciousness and environmental concerns in Italian agri-food consumption during Covid-19

PurposeThe study investigates how consumers' food purchasing habits changed during the Covid-19 pandemic in Italy. The research aims to understand if traditional aspects, health consciousness and environmental concerns have influenced and changed the purchases of food products post-pandemic.Design/methodology/approachThe authors developed a theoretical model to understand whether health consciousness, traditional aspects and environmental concerns affect consumers' purchasing intention. The study collects secondary data to analyse state of the art and investigate consumer behaviour in the agri-food system after the pandemic. Thereafter, a survey was conducted via a convenience random sampling procedure. The data (n = 622) were analysed using the formulated research framework and tested through the structural equation modelling procedure.FindingsThe findings reveal that health consciousness and traditional aspects (culinary traditions, ingredients usage from one's territory of origin, products' origin attention) are among the main reasons for purchasing agri-food goods after the pandemic. Instead, environmental concerns negatively affect consumers' purchase intentions.Originality/valueThe study identifies which aspects influenced consumers' purchasing intentions after the Covid-19 pandemic. It also provides insights for food companies and policymakers on the factors to be improved to optimize the agri-food sector following a sustainable perspective and in order to develop effective business strategies.

Effective integration of artificial intelligence: key axes for business strategy

PurposeThis paper aims to explore the dimensions that foster the effectiveness of artificial intelligence (AI) within a business strategy.Design/methodology/approachThe paper reviews recent contributions to AI and business success and identifies the key pillars that support the achievement of good results.FindingsThe paper proposes that there are four critical dimensions for developing an effective business strategy with AI. This research finds that AI has the potential to drive significant development when it is leveraged along four main axes: a focused strategy for AI, knowledge of the customers, effective interactions with customers and effective implementation of AI. These four dimensions are essential for nurturing the critical dimensions of AI that enable successful integration with the business strategy. To achieve this integration, the business strategy must take advantage of the insights and capabilities provided by AI while also understanding and deeply knowing the customers through effective interactions with them. The development is structured in an organizational alignment where AI helps employees and learns from them. By continuously learning from the exploitation of knowledge and big data, the organization can enrich its use of AI.Research limitations/implicationsThe paper identifies four pillars of AI integration with the development of business strategy as areas for further empirical analysis by business researchers.Practical implicationsThis paper offers strategies for managers and professionals to effectively integrate AI into business strategy.Originality/valueThe authors provide a novel perspective on using AI in business strategy by identifying four key axes of success in the current business landscape.

Determinants of entrepreneurial orientation among muslim students in Kenya: A case of United States international University-Africa

Entrepreneurial orientation is one of the very essential main factors for any nascent entrepreneurto launch their own enterprise. Many studies on entrepreneurial orientation have been conductedto identify the principal factors which affect entrepreneurs’ ability to be engaged in ownbusiness. The purpose of this study was to confirm the dimensionality of EntrepreneurialOrientation (EO) based on an exploration of its constructs among Kenyan university businessstudents in United States International university-Africa(USIU-A). A cross-sectional surveyapproach was conducted targeting students at USIU-A university. A descriptive quantitativeresearch design was implemented for this study and the information gathered from thequestionnaires was used to interpret and understand the significance of the study in relation tothe selected target population. Using a sample of 150 students, the hypotheses were developedand tested using structural equation modeling. The findings revealed that EO in the Kenyancontext was a three- factor instrument consisting of the three constructs: risk-taking,innovativeness and pro-activeness which had a strong correlation with the attitude of businessstudents on entrepreneurial orientation. This study provides better comprehension intoentrepreneurial orientation constructs among students in Kenya. Given the imperative need foruniversities to monitor and improve the entrepreneurial orientation and spirit among businessstudents, this study can help business students to understand better regarding the businessattitude they need to maintain, which can help them to improve proactive personality andformulate effective business strategies in the future.

The synergy between the UK senior manager regime area of ‘reasonable steps’ and diversity and inclusion

Regulators were somewhat late to the game when identifying the true value of diversity, especially given the global nature of financial services. Only in the past few years have they managed to focus on the benefits of diversity and inclusion in all its forms and at every level of an organisation. The paper aims to offer some insight into the diversity and inclusion journey that both the financial industry and the regulator have been on, and continue to be on. This has accelerated during the past few years and is driven by an overwhelming need to raise standards within the industry, but also to provide insights into the positive benefits of diversity by allowing the breadth of experience, knowledge and insights to thrive in an effective, all-encompassing and forward-looking business strategy.

Analisis Strategi Promosi Bisnis Katering Pada PT. Parewa Aero Catering

PT. PAREWA AERO CATERING is a company engaged in catering services. The purpose of this research is to develop marketing that was previously only marketed in certain places, and to formulate an effective business strategy as a suggestion for companies to improve their market competitiveness. The method used is a quantitative method, the data collection techniques used are questionnaires and interviews, then the collected data is analyzed. The conclusion drawn from the final results of the research is that the marketing strategy is the right strategy applied by the company to enter the market and compete in the market.

SOCIAL NETWORK AS A CONDUCTING BUSINESS TOOL

Abstract. The purpose of the work is to substantiate the choice of effective business strategies in social networks using various types of social network tools. The work highlights the influence of referral traffic from social networks on the site’s search engine optimization. The results of the study showed that Facebook accounts give maximum traffic to websites. The article analyzes approaches to building a target audience portfolio. The work presents statistics on the use of social networks and messengers in Ukraine and highlights the advantages of public social network accounts. The author gives a comparative description of popular chatbot platforms for messengers. The results of the study showed that Smart Sender is an effective tool for developing chatbots for messengers. The work reveals the task of targeted advertising for the purpose of business promotion in social networks. The conclusion is formulated that social networks are an effective business tool that enables companies to maintain competitive positions on the market. If social networks accompany the site, then for successful business it is necessary to choose a strategy of creating accounts in as many social networks as possible with minimally profile settings, and to develop profiles in those social networks that will give maximum referral traffic to the site. If the decision is made to run an online business only in social networks, then you need to choose a strategy for choosing platforms with the most relevant target audience and convenient mechanisms for receiving orders. Keywords: social networks, online business, social signals, targeted advertising, target audience, content plan, messengers, chatbots.

Удосконалення теоретичних засад формування стратегії бізнес-структур

The study focuses on a detailed analysis and evaluation of the key elements that foster the development of more effective and adaptive business strategies. The study found that the process of creating business strategies reflects a variety of approaches, ranging from traditional methods to modern innovative solutions. The main approaches are divided into: business value creation, targeted planning and integrated measures. It is revealed that modern business strategies are evolving, taking into account a wide range of important aspects, including environmental and social benchmarks of sustainable development. It is also noted that the development of information technology contributes to approaches to business strategies, forcing companies to be more flexible and quickly adapt to changes. It is found that the development and selection of business strategies are fundamental to the success of each company, requiring a thorough analysis of external and internal factors that affect its opportunities and risks. It is noted that the external environment affects the availability of resources and determines the competitive position of an enterprise, while the internal environment determines the internal capabilities and potential of an organization to implement strategic plans. It is emphasized that the effectiveness of a strategy is ensured by continuous collection of information about the external and internal environment, evaluation of results and making adjustments to the strategy in accordance with changes in the external and internal environment of the enterprise. It is emphasized that understanding the needs and expectations of stakeholders, such as customers, employees, suppliers, shareholders, government and the local community, is key to creating effective strategies that contribute to the achievement of the company's goals. It is indicated that the choice of a particular strategy largely depends on stakeholders and resources. It is also emphasized that in the context of strategic planning, the resources of enterprises need to be transformed, in particular, staff – into intellectual capital, current assets – into innovations, capital investments – into sustainable development technologies, and information – into interaction. The practical significance of the topic is to improve the process of forming effective business strategies, which contributes to the competitive advantage and sustainable development of the company.

Strategy and competencies for future-ready business and HR business partners: A conceptual analysis

An empirical investigation led to the discovery of elements that create meaningful relationships between human resource [HR] teams and their respective business managers within organizations. The antecedents, consequences and strategies affecting the alignment of HRM, and business planning and implementation are reviewed. To meet existing human resource management [HRM] challenges, HR and business leaders must work together within the organizational setting to conceptualize strategy, planning, key roles, and competencies needed to reskill today’s human resource business partners [HRBPs]. The conceptual analysis of strategic HRM has led to understanding the dynamics of four key factors that are HR’s interaction with business operations, HR’s strategic contribution, responsibilities, and roles for HRBPs, and competency development for today’s HRBPs. After analyzing each of the factors, practical implications are addressed through results and discussions, and conclusions will emphasize the overall importance of an effective HRM and business strategy.

Penerapan Algoritma Apriori Untuk Rekomendasi Display Produk Mebel Furnitur

In a business , the ability to process data is very necessary, information obtained from a business can provide benefits in an effective and efficient business strategy, but with the development of online business strategy information, some users, in business furniture products are confused choosing product according to the wishes of the buyer Therefore, research is made with the aim of making it easier for users, especially in the field of furniture product business to determine the desired product by implementing a recommendation system on the furniture store website which is taken from the amount of data, this data can be in the form of databases. this is also beneficial for shop owners because with this recommendation system it can help as a means of promoting products that are not selling well. the recommendation system uses the a priori algorithm method with data mining techniques, namely association rules.

Green practices as an effective business strategy to influence the behavior of hotel guests in the luxury hotel sector: Evidence from an emerging market

AbstractResearchers have investigated the influence of green practices on consumer behavior in the last decades. However, findings indicate that consumers have different responses toward green practices. To advance the current literature, this study draws on the theoretical foundation of social identity theory to investigate the relationship between green practices and hotel guests' visit intention in the luxury hotel sector. The study also determines the mediating mechanisms of perceived value fit and promotion focus and the moderating mechanism of environmental behavior in this relationship. Sample data were collected from 473 hotel guests in China's luxury hotels. The results of structural equation modeling indicate that green hotel practices enhance visit intention and that perceived value fit and promotion focus positively mediate this relationship. Moreover, environmental behavior has a positive moderating effect on the link between green hotel practices and perceived value fit, as well as that between perceived value fit and visit intention. A robustness test with another sample data of 266 hotel guests confirms the hypothesis testing results. The findings of this study provide implications for researchers and business managers in understanding and managing the influence of green practices on hotel guests' behavior in the luxury hotel sector.

‘I wanna be sustainable, but I don't wanna show it!’: The effect of sustainability cues on young adult consumers' preferences

AbstractGiven the urgent need to address plastic pollution, fashion companies are implementing diverse strategies to reduce plastic in their production processes. To communicate their commitment to plastic waste reduction, companies have started including symbols on their products (i.e., sustainability cues). However, the effect of these symbols on consumer behaviour remains unclear. Thus, through a mixed method involving three focus groups and two online experiments, we investigate the effect of sustainability cues on consumers' preferences. Our findings show that including sustainability cues on a product is not always an effective business strategy. Hence, we expand the ongoing debate on the effects of environmental strategies, offering new insights into consumers' perceptions of sustainability cues and demonstrating the importance of perceived proximity and environmental concern in enhancing or reducing buying intentions towards sustainable products. For fashion companies, we reveal if and how sustainability cues can represent a competitive leverage prompting environmentally friendly purchases.

Success factors for renewable energy businesses in emerging economies

Purpose With a growing demand for safe, clean and affordable energy, emerging economies (EEs) across the globe are now seeking to create and rapidly develop renewable energy (RE) businesses. The success of these businesses often hinges on their ability to translate RE into sustainable value for energy consumers and the multiple stakeholders in this industry. Such value includes low production costs due to an abundance of natural resources (e.g. wind, water and sunlight) and public health benefits from reduced environmental pollution. With that in mind, this paper aims to gauge RE’s potential for sustainable value creation and then develop an effective RE business strategy. Design/methodology/approach This paper develops a structural equation model, conducts an exploratory factor analysis, confirmatory factor analyses with and without common latent factors and proposes a moderated mediation analysis to identify a host of factors that influence the success of RE businesses. Findings This paper discovers that RE business performance is significantly affected by integrated vision, intellectual capital and social capital. Originality/value To the best of the authors’ knowledge, this paper is one of the first empirical studies that identify various factors influencing successful RE businesses in EEs such as Asian (e.g. China and India) and Latin American countries.

СУЧАСНІ ТЕНДЕНЦІЇ РИНКУ НЕРУХОМОСТІ УКРАЇНИ

The article examines the current trends of the real estate market in Ukraine as an important component of the economy, which performs not only an economic, but also a social role, promotes sustainable development and inclusion. The structure, subject composition, features, existing problems, advantages, and disadvantages of the real estate market are characterized. The stages of historical genesis are analysed, and crisis periods are singled out. The main trends are formulated taking into account the current state of the primary and secondary real estate market and regional differences. The real estate market of Ukraine is an important component of the economy, performing not only an economic, but also a social role, contributing to sustainable development and inclusion. Despite the beginning of the historical genesis from the moment of the declaration of independence of Ukraine and privatization processes, even now this industry is still at the stage of its formation and development, facing a number of external and internal challenges, under the influence of which the existing problems are clearly visible: the uneven development of certain segments of the real estate market , low solvency of citizens, imperfection and conflict of the legislative framework, low investment potential, especially in relation to foreign investments, guaranteeing the rights of investors. The purpose of the study is to identify and analyse current trends in the real estate market in Ukraine. The article analyzes the stages of development of the domestic real estate market, the main subjects and target groups of consumers in the real estate market in Ukraine (young families; investors; pensioners; students; business class; tenants; rural residents) with their specific needs and opportunities, which is of great importance for understanding and forecasting market dynamics, as well as forming effective business strategies in the real estate industry. The peculiarities of the real estate market, as well as the advantages and disadvantages of the real estate market from the point of view of entrepreneurial and commercial activity, are summarized and analysed. The structure of the real estate market is characterized depending on various criteria. A dynamic analysis of the real estate market is carried out, taking into account the consequences of crisis phenomena, including the crises of 2008, 2014-2015, the COVID-19 pandemic and the large-scale russian invasion of 2022. Before the start of the war, the real estate market of Ukraine was growing and developing rapidly, demonstrating active construction in almost all regions of Ukraine, prices steadily rose. On the other hand, construction has stopped in many regions, and the volume of transactions on the secondary market is falling. Trends in the real estate market are formulated taking into account regional features. Special attention is paid to state affordable housing programs. Keywords: affordable housing, construction, lending, mortgage, primary market, real estate, secondary market.