Future Business Opportunities Research Articles

USE OF CONSTRUCTION INCENTIVE: SECTORAL DIFFERENCES

Incentive contracting has been developed to motivate agent teams to render extra effort. Typically, three types of incentive arrangements have been used: incentive/penalty for superior/under performance; risk/reward sharing; and future business opportunities. This study found that there are significant differences in the choice of incentive arrangements between private and public projects in Hong Kong. It is uncommon for public projects to use future business as a performance incentivizer, whereas private developers often signal repeated business together with heavy penalties to tie with their contractors. This study further identified various attributes affecting the use of incentives in both private and public engineering sectors of Hong Kong. The respective preferences were unveiled through a literature review, semi-structured interviews with industry experts, and a survey. The findings reveal that the public and private sectors consider the implementation issues regarding various performance targets critical to the type of incentives to be used. Whilst the primary concern of the public sector is accountability, the private sector is skeptical about the need to provide extra for the contractors for what they have already contracted for.

USE OF CONSTRUCTION INCENTIVE: SECTORAL DIFFERENCES

Incentive contracting has been developed to motivate agent teams to render extra effort. Typically, three types of incentive arrangements have been used: incentive/penalty for superior/under performance; risk/reward sharing; and future business opportunities. This study found that there are significant differences in the choice of incentive arrangements between private and public projects in Hong Kong. It is uncommon for public projects to use future business as a performance incentivizer, whereas private developers often signal repeated business together with heavy penalties to tie with their contractors. This study further identified various attributes affecting the use of incentives in both private and public engineering sectors of Hong Kong. The respective preferences were unveiled through a literature review, semi-structured interviews with industry experts, and a survey. The findings reveal that the public and private sectors consider the implementation issues regarding various performance targets critical to the type of incentives to be used. Whilst the primary concern of the public sector is accountability, the private sector is skeptical about the need to provide extra for the contractors for what they have already contracted for.

Recommended LNG Commercialization Strategy to Maintain Business Sustainability in the Global LNG Market: A Case Study of PPTETS

LNG supply and demand growth have steadily increased in the past 12 months, recovering from pandemic-related outages in early 2021. Supported by increased LNG supply and demand, a surge in LNG trading has been seen across the world, and there is no indication of slowing down in the near future. Those situations become the opportunity for an LNG seller who has the potential uncommitted LNG supply to be offered to the buyer. PPTETS (which is not a complete name of the company, but a real Singapore registered company), which is owned 100% by PPTET Ty (which is not a complete name of the company, but a real Japan registered company), which is a joint venture company between Pertamina and various Japanese utility & power companies, is required to anticipate that opportunity. With consideration of the dynamic changes in global LNG market development, PPTETS needs to formulate the company’s business strategy, which is intended to seize future business opportunities. The main objective of this research is to formulate a PPTETS LNG commercialization business strategy to generate profit and maintain sustainability in the global LNG market. The analysis will consider both primary and secondary data, with underlying theoretical for external factors such as PESTEL analysis and Porter’s Five Forces, while for internal factors analysis will utilize a resource-based view and VRIO. As a synthesis of the company’s internal and external analysis, SWOT analysis and TOWS matrix will then be utilized. Finally, based on the analysis and formulation that has been conducted, it could be concluded that PPTETS has the opportunity and capabilities to maintain its business sustainability by trading in the global LNG market. After considering several findings from both external and internal factors of primary and secondary data, aside from cost focus leadership as a generic competitive strategy, there are 3 (three) specific business strategies recommended to PPTETS in order to generate profit and maintain sustainability, which are (i) collaboration with Pertamina, (ii) developing PPTETS internal procedures, and (iii) further PPTETS’ business development.

Investigation of future business opportunities for India and China after COVID-19

Investigation of future business opportunities for India and China after COVID-19

The usage of Foodpanda delivery apps among students: an exploratory study

Within the food and beverage industry in Malaysia, food delivery service, particularly the application of food delivery apps, is an emerging new wave. The escalation of food delivery apps could shift consumer behaviour in the purchase of food. The paper aims to explore contributing factors influencing consumer behaviour using food delivery apps using a qualitative approach. The approach entails the use of semistructured interviews with eight students, all of whom are Foodpanda food delivery app users, in a high-learning institution. Thematic method of data analysis revealed the following factors influencing the app usage behaviour: Ease of use, Variety of Choice, Social effect, and Time/Cost saving. This finding highlights the behavioural pattern of food delivery app users, which informs on better marketing strategies and planning for future business opportunities.

Familiarization with the features of the enterprise activities through the management report: condition, perspectives of development, risks

Introduction. The modern trends of Ukraine's European integration path determined today's demand for enterprises – the timely publication of the Management Report. The process of preparing the report should be phased. It is reasonable to create a working group, involving representatives of the production unit, the HR department, and marketers. The Law «On Accounting and Financial Reporting in Ukraine» contains clauses with requirements for reporting, therefore, it is observed that it should be compiled by the accounting department, but it provides a lot of information that does not belong to the competence of this service. Considering this, management of the company has to take care of the proper organization of the preparation of the Management Report and the software of information sources for its individual areas. The purpose of the paper is a justification of the optimality of filling the sections of the Management Report according to individual characteristics of the company's activity, based on the experience of European companies, which report on certain issue five years earlier than Ukrainian ones. Results. Each company, depending on the specifics of the business, needs to develop the concept of the Management Report and determine which sections it will consist of. Accordingly, determine sources of information and organize its collection, processing and generalization. It is advisable that this form is not only useful, but also visually attractive, especially with the prospect of attracting new partners. The management report is significantly different from other financial reports. The paper substantiates the optimality of filling the sections of the Management Report according to individual characteristics of the company's activity, based on the practical experience of Ukrainian and European companies. A number of excerpts from relevant reports of various business entities are provided, which visualize their data. Conclusion. It was concluded that the proposed approaches to the informational disclosure of activities and annual results, with an emphasis on non-financial components of the Management Report, contribute to saving time of the performers and the development of a holistic approach to the presentation of data. Perspectives for further research are determined by the accumulation of experience by domestic enterprises on the development of the most optimal structure and content of the Management Report, in order not only to comply with legal requirements, but also to use this creative format to best promote their own achievements and future business opportunities.

Hybrid genetic algorithms in agent-based artificial market model for simulating fan tokens trading

In recent years cryptographic tokens have gained popularity as they can be used as a form of emerging alternative financing and as a means of building platforms. The token markets innovate quickly through technology and decentralization, and they are constantly changing, and they have a high risk. Negotiation strategies must therefore be suited to these new circumstances. The genetic algorithm offers a very appropriate approach to resolving these complex issues. However, very little is known about genetic algorithm methods in cryptographic tokens. Accordingly, this paper presents a case study of the simulation of Fan Tokens trading by implementing selected best trading rule sets by a genetic algorithm that simulates a negotiation system through the Monte Carlo method. We have applied Adaptive Boosting and Genetic Algorithms, Deep Learning Neural Network-Genetic Algorithms, Adaptive Genetic Algorithms with Fuzzy Logic, and Quantum Genetic Algorithm techniques. The period selected is from December 1, 2021 to August 25, 2022, and we have used data from the Fan Tokens of Paris Saint-Germain, Manchester City, and Barcelona, leaders in the market. Our results conclude that the Hybrid and Quantum Genetic algorithm display a good execution during the training and testing period. Our study has a major impact on the current decentralized markets and future business opportunities.

Pemberdayaan Masyarakat di Kelurahan Bendul Merisi dengan Produksi Eco Enzyme

The background of the community service program is to provide alternatives to the community regarding household waste management. Waste is a common problem that must be solved together. One alternative to managing waste that can be used as an economical product is the use of eco enzyme. Eco enzyme has several benefits, including: 1) household organic waste will be reduced, 2) eco enzyme products can be used as a substitute for chemical cleaning products, 3) healthier because it is natural, and 4) saving routine family expenses to buy chemical cleaning products. As a result of this community service program, the participants can utilize household waste as raw material for making products with economic value and add creative ideas for future business opportunities.

Business Model Innovation for Digitalization in the Swedish District Heating Sector

Despite decades of research and development, digitalization remains a key challenge for the Swedish district heating sector. Business model innovation is believed to be necessary to capitalize on digitalization, yet it is especially challenging for municipal companies. This study aims to identify the potential impact of digitalization on the business models of Swedish district heating companies and to analyze the barriers that exist for digital business model innovation. Through case studies of eight municipal district heating companies, this study demonstrates how the entire business model is potentially impacted by digitalization. This study also identifies the barriers to digital business model innovation that are linked to two conflicting views (restrictive versus comprehensive) on digitalization. The restrictive view diminishes the importance of business model innovation, outsourcing innovation to minimize both costs and risks for the company. In contrast, the comprehensive view embraces digital business model innovation through trial-and-error and opens the innovation process to stakeholder influence. These two perspectives are motivated by different beliefs about the need for digitalization to secure future business opportunities, as well as differences in owners’ risk appetite. The implications for industry outlooks and the design of policy support for the digitalization of district heating are discussed.

Charcoal Trade in Niger—Product Flows and Business Models

Charcoal is used in Africa for household energy, and the sector involves different actors with specific business strategies. Based on theories on sustainable business models and livelihoods, charcoal traders in five cities in Niger were surveyed about supply chains and strategies. Most charcoal is imported from Nigeria, and smaller quantities come from Benin and Burkina Faso or domestically. Men dominate the trade. Customers value charcoal quality, tree species, packaging, and low prices. Three groups of traders and their business models were identified: small-scale retailers, large-scale retailers, and wholesalers. The charcoal trade is typically combined with trade in other products and is frequently conducted with family members or friends; laborers are employed for loading and unloading. The charcoal business provides a complementary income for the traders’ livelihoods. Most respondents believed that trade would increase in the future; wholesalers expected promising future business opportunities. This study concludes that improvements should focus on quality, better marketing skills, and more sustainable charcoal sourcing. Charcoal use in the Sahel region of Africa should also be studied further to enable the development of effective policies in the West African bioenergy sector. The cross-border charcoal trade creates a need for coordinated policies for a sustainable charcoal sector in the Sahel region.

Industri Halal dan Ekonomi Digital : Peluang Bisnis dan Karir di Masa Depan

This community service aims to socialize future business and career opportunities in the halal industry and digital economy to 12th grade high school students at 5 Islamic schools spread across 3 districts in West Sumatra Province. In addition, this activity also aims to socialize the Tazkia Islamic Institute. This activity was carried out in the form of an offline seminar at the five schools.

Rapport building in B2B sales interactions: the process and explananda

Despite the expansion of digital transformation, interpersonal interactions remain the foundation for successful business-to-business (B2B) sales meetings in complex exchanges. This study focuses on rapport building and examines it as an explicitly and implicitly manifested ongoing process covering the entire duration of a B2B sales meeting. Based on empirical findings from a qualitative study of Japanese business professionals, the study develops a process conceptualization of rapport building. It draws on the rapport management model from sociolinguistics, showing how rapport building is based on meeting individuals’ fundamental needs for appreciation, approval, fair consideration, and social inclusion, besides fulfilling business-related rapport needs. Based on the data, we identified three phases in rapport building (establishing, developing, and leveraging) and various overt and covert rapport-building activities the salesperson can adopt to create and nurture rapport with a customer by relying on verbal, nonverbal, and intuitive cues. Our findings indicate that only the final phase, leveraging rapport, offers an optimal setting for discussions on future business opportunities. The study challenges the stereotypical notion of rapport as mere small talk at the beginning of a sales meeting and provides valuable managerial implications related to successful rapport building.

Voice assistants in private households: a conceptual framework for future research in an interdisciplinary field

The present study identifies, organizes, and structures the available scientific knowledge on the recent use and the prospects of Voice Assistants (VA) in private households. The systematic review of the 207 articles from the Computer, Social, and Business and Management research domains combines bibliometric with qualitative content analysis. The study contributes to earlier research by consolidating the as yet dispersed insights from scholarly research, and by conceptualizing linkages between research domains around common themes. We find that, despite advances in the technological development of VA, research largely lacks cross-fertilization between findings from the Social and Business and Management Sciences. This is needed for developing and monetizing meaningful VA use cases and solutions that match the needs of private households. Few articles show that future research is well-advised to make interdisciplinary efforts to create a common understanding from complementary findings—e.g., what necessary social, legal, functional, and technological extensions could integrate social, behavioral, and business aspects with technological development. We identify future VA-based business opportunities and propose integrated future research avenues for aligning the different disciplines’ scholarly efforts.

Innovating agri-food business models after the Covid-19 pandemic: The impact of digital technologies on the value creation and value capture mechanisms

This paper investigates the phenomenon of business models innovation (BMI) empowered by digital technologies and activated as a response to Covid-19 crisis. In fact, during the crisis numerous digital redesigns of businesses occurred to pursue both continuity and competitive advantage. Among these, the food retail sector has undergone under the pressure of the crisis intense digital changes, which, however, have not yet been investigated under the theoretical lens of BMI. To fill this gap, the paper analyzes the digital actions taken during the pandemic crisis by two large food retailers, namely Walmart and Carrefour. Covering a wide temporal interval of the pandemic evolution and reviewing multiple geographical markets, the authors interpreted the grocer's digital responses to the crisis in terms of innovation in value creation and capture mechanisms. As a result, three phases of digital BMI have been reconstructed, each characterized by specific mechanisms of value creation and capture experienced by the two grocers during the pandemic. Leveraging these findings, the paper proposes a model capable of defining how digital BMI takes place in response to crises. Results broaden theoretical knowledge and practical suggestions on digital BMI in terms of enabling factors, actionable value mechanisms, and future business opportunities.

How Does the Violation of Trust Influence Project Management Negotiations?

Violation of Trust frequently damages or destroys the relationship. In this work, we addressed the epistemology of Trust amongst negotiators, providing a new perspective on the emerging themes after careful analysis and revision. First, we analyzed how the Violation of Trust somehow influenced project management negotiations through a qualitative inquiry of N=80 project managers. Then, after content and causal chain analyses, the findings pointed out harsh consequences on both substance and relationship, such as disappointment, loss of sales, customers, and no deal in the short term. In the long run, loss of credibility jeopardizes future business opportunities and loss of reputation. As a result, we believe it is possible to pave the way for future research by understanding complex concepts affecting trust and project management negotiations.

A characterisation framework of energy services offered by energy service companies

Energy Service Companies (ESCOs) are key players in the provision of energy services, hence they are considered strategic means to foster energy efficiency across countries. Nonetheless, despite the undergoing radical transformation within the ESCOs industry - especially the increasing tendency to bundle services, recent research capable to capture such evolution and development, in terms of services, technologies, and markets targeted by ESCOs is scarce. The present study aims at fulfilling the outlined research gaps by developing a novel framework for the classification and characterisation of services offered by ESCOs, as well as technologies and markets addressed. Services are characterised into nine categories, namely: preliminary analysis; project assessment; project contracting; project financing; project technology management and project supervision; energy procurement, management of incentives and regulations, and other services. The developed framework is then preliminary tested by applying it to a sample of eight Italian ESCOs to assess its completeness and usefulness. Results show the capability of the framework to adequately detail and map clusters of services-technologies-markets addressed by ESCOs, also identifying areas for future business opportunities for ESCOs themselves. The study concludes with recommendations for industry and policymaking on future efforts to promote energy services, as well as future research in this area.

Energy from livestock waste: Using circular economy and territorial intelligence to build sustainable businesses

Pig waste can be used to generate energy through biogas and has been gaining importance for being a renewable energy source. The resulting biogas can be used in many forms, such as to produce electricity and supply local networks using microgrids. This helps bring greater stability and energy security to local electricity supply networks. Under this light, this article aims to (i) report on socio-environmental impacts, (ii) present lessons learned (from a circular economy and territorial intelligence perspective), and (iii) point out future business opportunities of value recovery from waste in rural properties. To that end, a case study was carried out in a rural property in Paraná, Brazil. The authors conducted local visits and surveys, and consulted documents provided by the property owners about projects making use of biogas produced from pig waste and used to generate electricity. Different partnerships between the property and public and private bodies enable business opportunities arising from projects that range from the commercialization of carbon credits, decentralized energy generation, to sale of energy to the State's energy provider and establishing Microgrids. From those projects, direct and indirect environmental and social benefits are primarily related to the replacement of non-renewable energy with renewable energy from waste, and impacts avoided from the inadequate handling of pig waste. The results show that it is possible to explore the energy potential of rural properties, based on livestock waste, by developing partnerships with public and private actors, producing energy from biogas, from circular economy and territorial intelligence perspectives.

Trend of ESG in Japan: Based on ESG Investment

Purpose: Japan is experiencing a rapid increase in ESG investment in addition to the SDGs in response to the tide of the times surged by global ESG. With global efforts to build a sustainable society, the recognition that non-financial information affects the sustainability of long-term companies is spreading. The Japanese government is making a struggle to achieve its target after declared to achieve “carbon neutrality” by 2050. After GPIF has led the way in ESG investment from 2015, ESG investment increased up to 55% during the last five years. However, Japanese ESG ranking by ESG rating agencies is still not high. Japan is expected to focus on ESG investment by financial institutions for the time being. While the correlation between ESG investment and performance is still unclear, the question of persistence of ESG investment is also being continued. The supporting SDGs through ESG Investment of considering the environment and society is important. This paper is to survey the trends and issues of ESG in Japan related to ESG investments and insurance industry in Japan. Research design, data, and methodology: The paper focused on the trend of ESG in Japan through previous ESG-related literature and the related articles retrieved from homepages of institutions for verifying recent data. This paper is composed by three areas, first, the trend of each ESG engagement of Japanese companies, second, the trend of ESG investment and third, the ESG trend of Insurance industry in Japan. Results: ESG investment in Japan has been leading the long term strategies of Japanese companies to be more actively involved in ESG. The correlation between ESG investment and financial performance is positive until now according to previous studies. However, after the face of huge risks such as COVID-19, the evaluation of ESG investment should be considered as a risk mitigation effect. Japanese companies see ESG as an opportunity to improve the value of existence and future business opportunities. It is also true for Japanese companies to see ESG as the critical issues for meaningful to stakeholders, higher ROE and positioning with SDGs. The empirical researches on the criteria for ESG investment are suggested to need more time series data and risk mitigation effects. The correlation of ESG-related indexes, the standardization ESG rating and the correlation of ESG and corporate value creation also should be further studied in the future. Implications: After the 2020 declaration of carbon neutrality, Japan is committed to achieving the goals of SDGs through ESG investment. However, it is true that it has yet to be evaluated lower by the ESG rating agencies compared to the rapid increase in ESG investment. Long-term research on the correlation between ESG investment and financial performance be emphasized specially under COVID-19 and low growth. ESG-related social environment is expected not to end in a short-term boom in Japan. Korea and Japan have also similar financial and business structures, and this paper can be referred to study Korea’s future ESG policies.

Why Must Journals at the University Level be Well Managed to Support the Era of University Independence?

Scientific journals have a vital role, from developing and disseminating science and technology to becoming a source of income generating for universities. Semarang State University has 166 journals, both National and Scientific Journals, spread across all faculties, study programs, institutions, and postgraduate programs. Many journals demand a good governance system characterized by a comprehensive service system. These procedures ensure consistent implementation and clear division of roles, so that journal management is carried out consistently, accountable, transparently, and professionally. This study aims to compile the main indicators of core services that must exist in journal management units at universities to support improving the performance of university journals that are consistent, accountable, transparent, professional, and able to capture future business opportunities. This type of research uses Participatory Action Research. The sampling technique is purposive sampling, and qualitative data is analyzed using content analysis. The study results found that the management of professional journals that have an orientation to business development at the university level requires a minimum of 10 key roles with 12 minimum service systems that must be developed. From these results, the next step is to develop an adequate information system outside of OJS to improve the performance of managers and services.

The impact on auditors of non-compliance with laws and regulations

This article clarifies and expands on the implications of the pronouncement: Non-Compliance of Laws and Regulations (NOCLAR), on Registered Auditors and Professional Accountants in South Africa. NOCLAR was introduced to assist legislative reporting obligations and strengthen professionalism and law coherency. The study clarifies the implications the IRBA and SAICA Codes of Professionals Conduct have on Accountants and Auditors and the course of action required if, all prior equivocal guidelines fail to address an illegality. Due to the relative infancy in the application of the NOCLAR amendment in South Africa, this study adopted a qualitative research methodology by critical review and analysis of commentaries, guidelines and application of the amendment by South African Accountants, Auditors and Academics. The study found that non-adherence to the amendment results in 3 key repercussions for both company and/or the Accountant and Auditor: Reputational damage, Loss of current clientele and future business opportunities and criminal charges.