Business Foundation Research Articles

Interconnection of Islamic and Conventional Marketing in Muhammadiyah Charity Businesses

This article aims to analyze the interconnection between Islamic and conventional marketing in the context of Muhammadiyah Charity Business (AUM) in the health sector with a focus on the Referral and Information Management (MAMARUDI) program in the Islamic Hospital Cempaka Putih Jakarta. This research aims to understand how these two marketing approaches can work together to improve service quality and hospital competitiveness without ignoring Sharia principles, which are the main foundation of Muhammadiyah's Charity Business. With a qualitative approach, this research collects data through interviews, observations, and document analysis related to implementing the MAMARUDI program. The research results show that Islamic marketing, which focuses on honesty, can be combined with conventional marketing, which utilizes digital technology to expand reach and increase service efficiency. This interconnection increases patient confidence in hospital services and strengthens the reputation of the Cempaka Putih Islamic Hospital. This interconnection model offers an approach that can be applied in other Islamic health institutions to create professional services on Islamic values.

Improvizing West Java MSMEs Using Quality Service Gaps Model

This study aims to understand the challenges and opportunities for the development of Micro, Small and Medium Enterprises (MSMEs) in West Java. With a very large number, MSMEs in West Java have great potential to drive economic growth. However, various obstacles such as access to capital, information, and technology are still an obstacle. This research proposes the application of the Service Science framework to map the MSME ecosystem and identify opportunities for service innovation. Thus, it is expected to increase the competitiveness of MSMEs and make a greater contribution to the regional economy. This research reveals that MSMEs in West Java face significant constraints in terms of access to capital, information, and technology. Through in-depth interviews with 8 MSME owners, this research aims to understand in-depth the challenges and opportunities faced by micro, small and medium enterprises. Thematic analysis of the interview data identified a gap between the ideal conditions that MSMEs desire and the actual conditions they experience. Using the Service Quality Gap Model, this study created four action plans to improve MSMEs in West Java. By addressing the identified gaps and encouraging collaboration between MSMEs, government, academia and industry, the Sadulur platform can catalyze the sustainable growth and development of MSMEs in West Java. These gaps, which we refer to as 'customer gaps', are manifested in four main themes: 1) the potential for MSMEs to create innovative products more easily, 2) the need to develop a strong business foundation and build sustainable brand value, 3) the importance of improving business processes and management to increase efficiency, and 4) the need to build good relationships with external parties to expand networks and business opportunities. These findings form the basis for formulating an action plan to improve the quality of services provided to MSMEs.

Eudaimonic well-being: a socio-cultural perspective on narrative action

ABSTRACT This paper, inspired by Arendt’s thought on the narrative character of action, aims to understand how speech and action, performed in the context of new beginnings, reveal eudaimonic potential in the quest for well-being. Our qualitative study follows ethnographic/netnographic principles and highlights four patterns of narrative action that actualize eudaimonic well-being in the foundation of a new business and life project: integrating resources for new beginnings, mobilizing objects, activating like-minded communities, and unleashing authenticating technologies. Our contribution lies in introducing a socio-cultural glance into the field of eudaimonic well-being through which we emphasize the value of narrative action and purpose in the construction of a new beginning. In so doing, we highlight the virtuous interplay between authenticating acts, networked narratives, and networks of desire in social media in the pursuit of eudaimonic well-being.

The Effect of The Business Foundation Support Program on Art Major College Start-Up Behavior: Duplicate Mediated Effect of the Entrepreneurship and the Willing of Startup

The Effect of The Business Foundation Support Program on Art Major College Start-Up Behavior: Duplicate Mediated Effect of the Entrepreneurship and the Willing of Startup

The Effects of Personal Pressure of Business Failure and Entrepreneurial Self-Efficacy on the Will of Business Foundation; Focusing on Mediated Influences of Internal Corporate Venture Supporting Policy

The Effects of Personal Pressure of Business Failure and Entrepreneurial Self-Efficacy on the Will of Business Foundation; Focusing on Mediated Influences of Internal Corporate Venture Supporting Policy

The Influence of CEO Characteristics On Environmental, Social, & Governance (ESG) Strategies In Non-Financial Sector Companies Listed On The Indonesian Stock Ex-change (IDX)

Global issues such as climate change, social injustice, and corporate misconduct have driven the emergence of the Environmental, Social, & Governance (ESG) concept as the foundation of business and investment strategies. While Indonesia has been a pioneer in ESG bond issuance, further steps are still needed to support national policies and ensure alignment with ASEAN and G20 goals in supporting sustainable finance. This study aims to determine the effect of CEO characteristics, namely Gender and Education, on the Environmental, Social, & Governance (ESG) of companies listed on the Indonesia Stock Exchange (IDX). The literature shows that Gender, Education, and CEO Experienxe affect the company's funding policy and capital structure, but the impact on ESG implementation is unclear. This study used a sample of 365 with a total of 73 companies. The data processing method used is panel linear regression analysis using RStudio software. The results showed that CEO gender has an insignificant positive effect, CEO education has a significant positive effect, and CEO experience has a significant negative effect on the ESG strategy score. The results of the study are expected to help companies in making policies to improve ESG and help investors in choosing ESG companies.

International entrepreneurship: Insights from Laos, Cambodia, and Vietnam

The discipline of International Entrepreneurship (IE) conceptually rests upon the foundations of entrepreneurship and international business – with theory typically derived from larger corporations and mature markets. Through comparison between IE in emerging and mature contexts, and individual and corporate entrepreneurship, distinctive features of individual IE in emerging markets are identified. A series of case studies conducted in Laos, Cambodia, and Vietnam document how incremental innovation underpins IE; how foreignness helps IEs spot opportunities (unrecognized by locals); how simple bureaucracies (commonly found in emerging markets) invigorate IE; how startups in emerging environments embody assimilation (larger international corporations cannot match) – and how this assimilation (combined with being small and nimble) enables IEs to thrive within ambiguity and institutional voids. Most importantly, this study challenges the applicability of institutional and transaction cost theory to explain market entry modes of individual IEs in emerging markets. Contrary to conventional wisdom, institutional voids were not found to deter these IEs. Rather, these IEs’ primary concerns relate to pro-business dispositions among authorities, simple bureaucracies, and uncomplicated investment climates.

International entrepreneurship: Insights from Laos, Cambodia, and Vietnam

The discipline of International Entrepreneurship (IE) conceptually rests upon the foundations of entrepreneurship and international business – with theory typically derived from larger corporations and mature markets. Through comparison between IE in emerging and mature contexts, and individual and corporate entrepreneurship, distinctive features of individual IE in emerging markets are identified. A series of case studies conducted in Laos, Cambodia, and Vietnam document how incremental innovation underpins IE; how foreignness helps IEs spot opportunities (unrecognized by locals); how simple bureaucracies (commonly found in emerging markets) invigorate IE; how startups in emerging environments embody assimilation (larger international corporations cannot match) – and how this assimilation (combined with being small and nimble) enables IEs to thrive within ambiguity and institutional voids. Most importantly, this study challenges the applicability of institutional and transaction cost theory to explain market entry modes of individual IEs in emerging markets. Contrary to conventional wisdom, institutional voids were not found to deter these IEs. Rather, these IEs’ primary concerns relate to pro-business dispositions among authorities, simple bureaucracies, and uncomplicated investment climates.

The moral foundations of responsible business: Using computational text analysis to explore the salience of morality in CSR communication

Morality is an integral part of Corporate Social Responsibility (CSR). However, the academic debate so far has mostly stated the importance of morality from a purely theoretical perspective, without empirically assessing it. We, therefore, draw on the moral foundations dictionary to conduct an automated content analysis of corporations’ (N = 277) annual CSR reports (N = 5010) over a period of 22 years. Looking into Germany, the United Kingdom, and the United States, we investigated morality salience, differences across sectors, countries, and over time as well as the association of morality with different stakeholder groups. Results inform the broader debate on CSR and morality and highlight avenues for future research.

Why State Power Pivotal to Economic Growth? A Review of Firms’ Performance in Dynamic Economies

Market regulations, governmental capital, and politically connected managerial teams are incrementally functioned, together with private-owned capital flows perennially. This paper reviews how macro-environment determinants, state-owned capital, as well as managers with connections affecting corporate performance in dynamic economies, such as China, Malaysia, and Nigeria. The findings clearly indicate that firms with politically connected manager and state-owned capital outperform in China, with higher IPO approvals, governing roles as informal structure, and tax benefits. The research has also shown that stability lays a foundation for businesses to strive.

Development of the conceptual business model of a third-party logistics provider for Indonesian small contractors

Third-party logistics (TPL) providers have shown positive impacts on supporting large construction projects. Nevertheless, their role in smaller construction still requires further clarification. Small contractors, facing logistics challenges in material supply, are frequently underrepresented in research. We propose a TPL model designed as an intermediary between suppliers and small contractors for consolidating materials. In the initial phase, TPL's business model should be developed for its business foundation. Therefore, this study aims to develop TPLS's conceptual business model that addresses Indonesian small contractors. Three interview themes were employed in this research, involving three distinct groups of small contractors to explore their capacities within construction work, their assessments of specific materials, and their logistical practices. Based on the nine blocks of the Business Model Canvas (BMC), this study found that TPL can ensure material supplies for small construction projects by coordinating sourcing, providing temporary storage, and delivering materials through building strategic partnerships with material suppliers, transportation service providers, and warehousing facility providers. Furthermore, TPL's conceptual business model allows small contractors to gain better access to material supply while providing suppliers with certainty of material purchasing demand. Nonetheless, achieving successful TPL implementation requires dedication from every stakeholder in their assigned roles.

National Identity and Foreign Borrowing in the Legal Forms of Personnel Management: History and Modernity

Relevance. The introduction of special rules for the use of foreign vocabulary in the texts of public acts, improving the form of a business letter, modifying the structure of documents in accordance with the powers of public authorities are trends in the current and past Russian administration experience. Both in the modern and historical and legal context of scientific research, it is relevant to consider state approaches in the field of regulating official paperwork, which are aimed at forming a stable management model in accordance with domestic national interests and values. The purpose of the study is to establish the relationship between elements of national identity and foreign models in the state personnel practice of document flow in Russia in the 18th century, which is useful for taking into account this experience in modern transformations of the foundations of legal and business writing.Objective: are to consider legislative innovations in terms of regulating the field of record keeping and personnel management; to identify forms of record keeping in the XVIII century and socio-political factors influencing their application; a retrospective assessment of the methodology for drafting texts of government acts.Methodology. The methodology is based on comparative legal, comparative historical, historical legal and systemic research methods.The results of the study indicate the improvement of grammatical, stylistic, translation and other business skills and competencies of personnel of public authorities. A historical and legal analysis of the directions of development of personnel management revealed an active borrowing of foreign vocabulary in the execution of administrative acts. The clerical mechanism of interdepartmental communication gradually became more complicated, and the procedure for receiving and responding to petitions from private individuals was regulated. Conclusion. The experience of forming the Russian management and personnel practice of paperwork, developing in conditions of value crises and political contradictions, is important for taking into account the political and legal measures carried out in the modern state.

Does artificial intelligence promote green innovation? An assessment based on direct, indirect, spillover, and heterogeneity effects

This paper investigates the intricate relationship between artificial intelligence (AI) and green innovation within the context of sustainable development goals. As societies strive to achieve sustainability, understanding the dynamics between technological advancements and environmental progress becomes paramount. Drawing from panel data encompassing 51 countries between 2000 and 2019, this study employs fixed-effects models, mediated effects models, and spatial Durbin models to meticulously examine the influence of AI on green innovation. The empirical findings reveal a robust and significantly positive correlation between AI and green innovation, highlighting the critical role of AI in fostering environmental innovation. Heterogeneity analysis across developed and developing economies delineates variations in the impact of AI on green innovation, shedding light on the influence of economic development levels and financial structures. Developed nations showcase a more pronounced AI-green innovation relationship compared to their developing counterparts, highlighting the complexities of technology adoption within distinct economic landscapes. Moreover, this study delves into the transmission mechanisms underlying the AI-green innovation nexus, revealing the mediating roles of industrial structure and human capital. Industrial upgrading and the enhancement of human capital emerge as crucial pathways through which AI indirectly stimulates green innovation. Spatial analyses reveals the spatial relevance of green innovation globally, emphasizing AI's substantial impact not only within domestic spheres but also across neighboring regions. There are significant direct, indirect, and total effects of AI on green innovation, highlighting its spillover characteristics and the catalytic role it plays in driving collaborative AI development on a global scale. This research contributes nuanced insights into the interplay between AI and green innovation, providing a foundation for policymakers, businesses, and researchers to comprehend the multifaceted dimensions of technological interventions in fostering sustainable innovation. The findings emphasize the imperative of collaborative efforts in utilizing AI's potential to propel green innovation, thereby advancing global sustainability agendas.

Private Placement of China-Listed Real Estate Firms: A Conceptual Idea

This article conducts a review of the literature on private placement and analyzes the risks facing China’s real estate companies. It argues that, within the framework of China’s hybrid economic model, private placement can serve as a market-oriented financing mechanism and risk mitigation strategy beyond the traditional banking system. The article focuses on the characteristics of private placement, prevalent hypotheses, and influencing factors. It also traces the evolution of financialization in the global real estate industry, outlines the development model of China’s real estate sector, and discusses the challenges and risks it encounters. Private placement offers various advantages, including reducing corporate leverage, strengthening working capital, and addressing information asymmetry issues. However, existing research in this field is still insufficient. Therefore, future research can provide a more robust theoretical foundation and guidance for policymakers, investors, and businesses.

Student Business Assistance At Al Baqalal Faculty Of Islamic Studies (FPI), Universiti Kebangsaan Malaysia

This community service article delves into the entrepreneurial journey of self-employed students at the Faculty of Islamic Studies (FPI) within Universiti Kebangsaan Malaysia. These students have established a business called Al Baqalal, a convenience center catering to the culinary needs of the student community. The article highlights the community service goals aimed at enhancing the students' entrepreneurship skills and preparing them for post-graduation entrepreneurial endeavors. The report covers Al Baqalal's profile, business operations, workforce structure, and procurement schemes. It also discusses the methodology employed in the community service program, utilizing the Service Learning (SL) method. Results and discussions showcase the positive impact of mentoring on entrepreneurial students, including improvements in business foundations, marketing, financial management, and operations. The article concludes by emphasizing the significance of ongoing high-quality training, expanding the program, fostering external collaborations, conducting regular evaluations, and promoting the entrepreneurial spirit among students to further enhance the community service program's effectiveness.

The Impact of TikTok Technology Transformation in the Digitalization Era Using SmartPLS

The utilization of technology has become the foundation for many businesses striving to remain competitive in the current digital era, where online shopping is increasingly dominant. TikTok, as a popular social media platform, has been employed as a marketing tool to reach a wider audience by offline businesses. This research seeks to understand the impact of TikTok technology utilization on online purchasing decisions. The sustainability of offline businesses depends on adapting to the changing consumer behavior, which is increasingly inclined towards online shopping. This study highlights the importance of using TikTok as a creative and innovative marketing tool to reach online customers. The research results indicate that the more intensive the use of TikTok technology, the more likely customers are to opt for online shopping. Subsequently, the ease of shopping on TikTok mediates the influence of technology utilization on online purchasing decisions. However, online product prices do not play a significant mediating role in purchase decision-making. In order to compete in an increasingly interconnected digital era, offline businesses need to consider more innovative marketing strategies and focus on providing a better user experience. The utilization of technology and creativity in TikTok content becomes the key to influencing online purchase decisions by digitally connected customers.

Driving financial results is not the only priority! An exploration of the future role of chief financial officer: a grounded theory approach

PurposeThis study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to specific crises, there have been theoretical and practical gaps in the role of CFO. The study's goal is to fill a critical gap by developing a comprehensive and integrated set of roles to assist the CFO in a constantly changing environment.Design/methodology/approachUsing a grounded theory approach, semi-structured interviews and observations were conducted with 21 CFOs from various industries in Thailand, including foreign multinational corporations and domestic companies with international operations. CFOs were asked how they frame their roles in the face of an ever-changing environment and how they prepare for the future.FindingsThe iCFO model is developed, which identifies the critical “core” roles of the CFO in securing the business foundation, as well as the “future opportunities” roles that function as growth engines for long-term business strength. The research delves into the importance of integrity, ethical mindset and corporate governance in the role of the CFO. The iCFO model is designed to help guide future research and provide practical applications for CFOs in both domestic and international contexts. The term “core” refers to the CFO’s primary responsibilities, which include driving profitability, managing risks and optimizing business performance. The “future opportunities” component focuses on the roles that CFOs can play in strengthening the future of business by optimizing investment efficiency, driving digital transformation and being the CEO’s business partner. The findings also emphasized “integrity,” which must encompass all decisions, actions or recommendations made by the CFO.Originality/valueThe study offers unique perspectives on an emerging economy, providing new insights. Through interviews with 21 CFOs, it contributes empirical evidence on the development of roles in accounting and finance, emphasizing good governance practices. The findings highlight the integrated role of the CFO and their self-reflection on their value within the company. Significantly, the study's implications are relevant and applicable to a global audience, particularly in developing economies that prioritize growth. Future studies could incorporate integrated thinking into the iCFO model to address social, environmental and economic factors, making it more universally relevant. Additionally, exploring the adoption of the chief value officer context in developing markets could enable CFOs to expand their focus beyond financial metrics, embracing a comprehensive approach to value creation. By integrating these concepts into the iCFO model, CFOs can effectively drive sustainable and impactful business outcomes on a global scale.

Legal Foundations of Business: Navigating the Regulatory Landscape in Commerce and Management

This article delves into the critical intersection of legal foundations and the realm of commerce and management. It explores the dynamic interplay between law and business operations, emphasizing the pivotal role of legal considerations in shaping organizational structures, contractual relations, employment practices, intellectual property protection, risk management, and international business endeavors. The narrative underscores the strategic imperative for businesses to not only comply with legal mandates but also leverage legal principles to enhance decision-making, foster innovation, and build a foundation for sustainable success. Professionals in commerce and management are encouraged to embrace a proactive approach to navigating the regulatory landscape, thereby ensuring ethical conduct and resilience in the face of evolving legal complexities.

PRESPEKTIF AYAT AL-QUR’AN DALAM ETIKA BISNIS ISLAM KONTEMPORER

Business with everything that happens in people's lives every day in general. The large number of businesses and the variety of business motives and orientations as well as the increasing complexity of business problems, sometimes makes business people fixated on trying anything to achieve their goals, especially if the goal is only to seek profit and profit. So that negative actions often occur, which eventually become habits in business behavior. If so, it is not uncommon for business actors to be identified with dirty deeds, because there are behaviors such as lying, betrayal, breaking promises, deceiving and defrauding others. This article describes business in an Islamic approach which includes Islamic business concepts, Islamic business principles and normative foundations of Islamic business by using a review of literature studies by examining interpretations of the Qur'an regarding the relationship between verses and existing ethical rules. Islamic business must be based on Islamic ethics which originate from the Al-Qur'an and the Sunnah of the Prophet Muhammad SAW. Generally, business ethics is a normative discipline, whereby certain ethical standards are formulated and then applied. It makes specific judgments about what is right or wrong, that is to say, makes claims about what to do or what not to do.

The mediating effect of a firm’s corporate reputation and sustainability practices in translating CSR into competitive performance in Indian ESG companies

PurposeThis study aims to explore the mediating effect of the top-performing environmental, sustainability and governance (ESG) company’s corporate reputation and sustainability practices in translating corporate social responsibility (CSR) practices into competitive performance in an emerging economy like India.Design/methodology/approachThe hypotheses proposed for this study were validated using partial least squares-based structural equation modeling on data obtained from the chief financial officers of the 122 top-performing ESG companies in India using a self-administered questionnaire.FindingsAccording to the findings of this research, the relationship between CSR practices and the competitive performance of the top-performing ESG companies in India is partially mediated by corporate reputation and sustainability practices.Originality/valueThe findings of this study indicate that the corporate reputation of a company and sustainability measures accepted by an organization can improve an organization’s competitive position. Because there has been so little research done on India, this study has the potential to be regarded as a pioneering effort. It can provide a foundation for businesses operating in India to improve their competitive advantage by emphasizing their corporate reputation and sustainable business practices in addition to the CSR activities undertaken.