Global Business Environment Research Articles

Navigating the Complexity of HR Analytics: A Conceptual Framework for Effective Implementation and Ethical Practice

This paper synthesizes an extensive body of literature to elucidate the challenges and prospects of Human Resources (HR) analytics within modern organizational contexts. Despite HR analytics' potential to revolutionize human capital management through data-driven insights, its adoption is hindered by many complexities, including skill gaps, ethical concerns, and implementation barriers. Our study reveals a significant proficiency in basic analytics competencies within HR yet a stark deficiency in advanced statistical capabilities and strategic integration. The discourse extends to the criticality of context-specific, ethical, and balanced analytics practices, considering the globalizing business environment and the nuanced demands of workforce management. We propose a comprehensive conceptual framework addressing these multifaceted challenges, underlining the importance of accurate, integrated, accessible employee data, managerial support, and robust HR information technology. The framework emphasizes developing analytical competencies, fostering organizational culture conducive to data-driven decision-making, and meeting ethical standards. The implications of our findings are twofold: enhancing organizational effectiveness through informed HR strategies and advocating for a paradigm shift towards ethical, strategic, and competent HR analytics practices. This study contributes to the strategic HR management literature by providing a structured approach to overcoming the prevalent challenges in HR analytics and setting a foundation for future empirical research.

Key action strategies for introducing smart manufacturing to small manufacturing industries

The global business environment is undergoing significant changes due to the impact of COVID-19 and shifts in workforce demographics, making organizational change an inevitable trend. In this context, the smooth adoption of smart manufacturing in the manufacturing industry is crucial for enhancing organizational value. Through a literature review, this study consolidated key factors related to organizational innovation and the implementation of smart manufacturing. The analytic hierarchy process (AHP) was employed to identify the prioritized sequence of key strategic actions for innovative operations. The results indicated that among 27 assessment indicators, motivation is the most crucial factor for organizational innovation/change. Subsequently, organizations must also prioritize strategic human resource deployment to accelerate the development of long-term organizational goals. This study further examined solutions to ensure both talent and organizational growth during the transformation of innovation strategies.

INTELLIGENCE ANALYTICAL SUBSYSTEM OF CORPORATE MANAGEMENT (ON THE EXAMPLE OF AN OIL & GAS COMPANY)

The changes that have taken place in the Ukrainian economy in recent years due to the consistent impact of global macroeconomic, epidemiological and military factors of the current deep crisis - actualized for enterprises and corporations a complex adaptive reorganization of their analytical subsystem of their management [1, 2].
 In addition, in order to be consistently effective in today's global business environment (liberalization of markets, their globalization, increased competition, decreasing consumer loyalty, constant variation in oil and gas prices, etc.), oil and gas companies must have an innovative data and knowledge environment that allows seamless and effective joint leveraging knowledge inside the corporation and across the value chain [3]. The application of knowledge-based decision support systems as an important tool of innovative management policy enables effective and sustainable management of a complex of integrated processes of an oil and gas production company (mitigating the impact of crisis factors) [4].
 The scientific and practical results presented in the article regarding the methodology and design of innovative analytical subsystem of the corporation management information systems should be taken into account when reengineering corporate information systems not only in the oil and gas industry in Ukraine [5-6]. 
 Moreover, the obtained results are relevant and applicable not only for local companies, but also for international corporations on emerging markets in the context of global and regional macroeconomic and edipemical crisis phenomena.

English as a Lingua Franca in Global Business: Balancing Efficiency and Cultural Sensitivity

This work focuses on English as an international business lingua franca in the realisation of effective international communication and collaboration. A globally integrated market has seemingly perceived English as an imperative medium in order to eliminate the barrier of language and play a facilitative role for multinational ventures; it adds an edge in organisational performance among diverse cultural landscapes. The dominance of English, on the other hand, also means that potential linguistic inequities might be bred, and the subtleties in the cultural differences might go on unnoticed. The study adopts a qualitative paradigm, through which it uses structured questionnaires to elicit insights with respect to the pros and cons associated with using English as the second language in business environments. Participants mentioned that English facilitates international transactions, helps in bringing the unity of diversified groups in terms of language, and supports the strategies of worldwide businesses. Critics say that a cavalier attitude towards non-native speakers will dominate and crop up as cultural insensitivity. Therefore, the findings in this article highlight that while English as a Lingua Franca may have innumerable advantages in worldwide business communication, there does always need to be a sense of balance and a certain amount of appreciation for diversity in languages to foster an inclusive global business environment.

Research of the mechanism of innovation implementation in the activities of Russian enterprises

In the conditions of globalization and development of information technologies, the competition of enterprises on national and international scales is significantly aggravated, which determines the importance of ensuring competitive advantages for any enterprise through innovation. In modern conditions, the effectiveness of innovation activity of the enterprise and, accordingly, its competitiveness depends primarily on the completeness and reliability of business information about the activities of counterparties and the conditions of the external environment. The value of informing about possible changes in the business environment has a manifestation through the prevention of tactical and strategic errors of enterprise management. Innovative development is the basis of competitiveness of modern economies, which provides the possibility of accelerated growth at macro- and micro-levels on the basis of creation and strengthening of intellectual potential in the global business environment. Despite the presence of significant conditions for qualitative changes on an innovative basis, the Russian Federation continues to be in a complex highly turbulent period of unstable growth. Therefore, the task of domestic economic science is to find mechanisms for the implementation of modern management of innovative development in the practice of enterprises in the Russian Federation, systematizing and developing its methodology. This requires an in-depth scientific study in the direction of searching for conceptual foundations for the activation of innovative development of enterprises to make a technological leap in the Russian Federation, in particular, on the basis of attracting breakthrough innovations, modern concepts of knowledge management, formation of relevant business models, management of high added value processes and the use of information and communication technologies in the digital space.

A Study On “THE IMPACT OF SELF-HELP GROUPS AND WOMEN EMPOWERMENT ON THE SOCIO – ECONOMIC DEVELOPMENT" with reference to Mangalore Taluk, Dakshina Kannada District in Karnataka State, India

Women are considered the second better half of the society. Constitutionally their role in the society is equal to men. Unfortunately, that is not the reality at least in India. In today’s world, women entrepreneurs are playing very vital role and they have become important part of the global business environment and it’s really important for the sustained economic development and social progress. This paper investigates a women’s self-help group program in one of the areas of Mangalore Taluk of Dakshina Kannada. On the basis of this study some suggestions are given to encourage spirit of women empowerment to become a successful entrepreneur. The study has focussed on the social advancement strategies and women's empowerment. Keywords; Capabilities, Self-Help Groups, Sustainable Development, Women Empowerment, Tendency painful matching.

Risk Mitigation and Value Creation: Exploring Innovative Financial Management Practices in Global Enterprises

Risk mitigation and value creation are essential components of financial management practices in global enterprises. This article aims to explore innovative financial management practices adopted by global enterprises to mitigate risks and create value. Employing a qualitative method, this study conducts a comprehensive literature review and library research to gather relevant data. Through the review of existing literature, various innovative financial management practices are identified, including risk assessment frameworks, hedging strategies, financial derivatives utilization, and dynamic asset allocation models. Additionally, the study evaluates the impact of these practices on risk reduction and value enhancement in global enterprises. The findings reveal that innovative financial management practices contribute significantly to risk mitigation by providing enterprises with tools and techniques to identify, assess, and manage risks effectively. Moreover, these practices facilitate value creation through improved decision-making processes, enhanced operational efficiency, and optimized resource allocation. Furthermore, the study examines the challenges and opportunities associated with the adoption of innovative financial management practices in the global business environment. Key challenges include regulatory compliance, technological integration, and organizational culture alignment, while opportunities include increased competitiveness, enhanced stakeholder confidence, and sustainable growth. Overall, this study provides insights into the importance of innovative financial management practices in addressing contemporary challenges and opportunities faced by global enterprises

Effects of Cross-Cultural Negotiation Strategies on International Joint Venture Success

Purpose: The aim of the study was to assess the effects of cross-cultural negotiation strategies on international joint venture success. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Cross-cultural negotiation strategies play a pivotal role in the success of international joint ventures (IJVs). Research suggests that effective negotiation tactics tailored to the cultural context of the parties involved significantly enhance the likelihood of achieving mutually beneficial outcomes and sustaining long-term partnerships. Studies have shown that cultural differences in communication styles, decision-making processes, and conflict resolution approaches can either facilitate or hinder negotiation effectiveness. Utilizing strategies such as cultural adaptation, empathy, active listening, and flexibility can bridge cultural gaps, foster trust, and facilitate collaboration among partners from diverse cultural backgrounds. Conversely, neglecting cultural nuances or employing ethnocentric negotiation tactics may lead to misunderstandings, conflicts, and ultimately, the failure of the joint venture. Therefore, understanding and integrating cross-cultural negotiation strategies are imperative for maximizing the success of international joint ventures in today's globalized business environment. Implications to Theory, Practice and Policy: Hofstede's cultural dimensions' theory, intercultural communication theory and cognitive adaptation theory may be use to anchor future studies on assessing the effects of cross-cultural negotiation strategies on international joint venture success. Develop tailored training programs and resources to enhance negotiators' cultural intelligence and competency in cross-cultural negotiation strategies. Advocate for the integration of cross-cultural negotiation competency standards into international business education curricula at academic institutions.

Cross-cultural leadership styles in multinational corporations: A comparative literature review

This review explores the dynamic landscape of cross-cultural leadership styles within multinational corporations (MNCs). As organizations expand globally, understanding the intricate interplay of cultural nuances on leadership becomes imperative for sustainable success. This study delves into existing research to compare and contrast various cross-cultural leadership styles prevalent in MNCs, aiming to provide insights into the complexities and challenges faced by leaders operating in diverse cultural contexts. The review identifies key cultural dimensions, such as individualism-collectivism, power distance, uncertainty avoidance, masculinity-femininity, and long-term orientation, which significantly influence leadership behaviors across different societies. Scholars argue that effective cross-cultural leadership requires a nuanced approach that acknowledges and integrates these cultural dimensions. The analysis highlights how leaders must navigate cultural diversity, adapt their communication styles, and cultivate a global mindset to foster collaboration and cohesion within multinational teams. Additionally, the review sheds light on the role of cultural intelligence (CQ) and its impact on leadership effectiveness in MNCs. Leaders with high CQ demonstrate the ability to comprehend, adapt, and capitalize on cultural differences, fostering positive outcomes in diverse organizational settings. The synthesis of literature also addresses the challenges faced by leaders, including ethnocentrism, stereotype biases, and the need for continuous learning and development in the face of evolving global business landscapes. By comparing findings from various studies, this review contributes to a comprehensive understanding of cross-cultural leadership in MNCs. It emphasizes the need for leadership development programs that cultivate cultural awareness and sensitivity, ultimately fostering adaptive and effective leaders capable of navigating the intricate web of global business environments. As organizations strive for international success, the insights gleaned from this review provide a foundation for refining leadership strategies that align with the diverse cultural fabric of multinational workforces.

China's ESG scorecard: A predictive machine learning model

AbstractIn today's globalized business environment, the intersection of Environmental, Social, and Governance (ESG) factors has come to the forefront, shaping the paradigms of Corporate Social Responsibility (CSR) and environmental stewardship. As China, with its economic prowess and distinct socio‐cultural milieu, takes center stage, deciphering its ESG dynamics becomes imperative for both local and global stakeholders. This groundbreaking research unveils a pioneering multidimensional ESG scoring system tailored for the Chinese corporate landscape. Drawing on an extensive dataset from Bloomberg, spanning an 11‐year period and encompassing 1496 companies, this study stands as a seminal contribution to the ESG literature. By harnessing advanced mathematical explorations coupled with state‐of‐the‐art machine learning techniques, the model's predictive prowess is heightened, ensuring its adaptability and robustness. Venturing beyond mere metrics, this research accentuates the practical implications of ESG in shaping sustainable and responsible business practices in China, thereby catalyzing a more ethically aligned corporate trajectory in the region.

Global Pricing

Global pricing, also known as global price setting, is a pricing strategy that tries to unify the price of a product or service across all global markets. This concept involves making pricing decisions based on global factors such as economic conditions, market demand, international competition, and currency considerations. Global pricing enables companies to optimize profitability and be responsive to market differences, while addressing the complex challenges associated with the variation in the global business environment. The success of implementing this strategy depends on a deep understanding of the characteristics of the global market and the appropriate adaptation to dynamic changes in various regions.

What’s next: Evergreen Marine Corp. after the Suez Canal incident

Research methodology This case study was built from secondary data such as news articles and videos. Several drafts of the case study with teaching note were tested in classroom settings and shared at a case writing conference. The case was revised based on feedback from students and roundtable discussions from the conference. Case overview/synopsis “What’s next: Ever Given after the Suez Canal incident (Evergreen Marine Corporation in, 2022)” explores the situation of the firm Evergreen Marine Corporation, a world-leading cargo shipping company headquartered in Taiwan, and its efforts to deal with challenges stemming from a pandemic and the global supply chain transition. The case provides background on the latest changes in global business environments, the Suez Canal Incident stemming from the grounding of Ever Given and firm-specific information, which would help students to understand the context affecting Evergreen Marine Corporation’s (EMC) strategic decisions. The case enables students to evaluate EMC’s overall position and to analyze the actions that they can take to deal with these challenges in a dynamic global environment. Complexity academic level This case would be appropriate for a course in strategy or international business, especially with the topic of international supply chain management.

A CRITICAL REVIEW OF ERP SYSTEMS IMPLEMENTATION IN MULTINATIONAL CORPORATIONS: TRENDS, CHALLENGES, AND FUTURE DIRECTIONS

Enterprise Resource Planning (ERP) systems have become indispensable tools for managing complex business processes in multinational corporations (MNCs). This paper presents a critical review of the trends, challenges, and future directions associated with ERP systems implementation in the context of MNCs. The study synthesizes existing literature to offer a comprehensive understanding of the evolving landscape of ERP adoption in a globalized business environment. The trends in ERP implementation within MNCs underscore the increasing reliance on integrated software solutions to enhance operational efficiency and facilitate seamless communication across diverse geographical locations. Notably, the integration of emerging technologies such as artificial intelligence, machine learning, and blockchain into ERP systems has gained traction, presenting new opportunities and complexities for MNCs. However, the implementation of ERP systems in MNCs is not without challenges. Cultural diversity, varying regulatory frameworks, and differences in business practices across regions pose significant obstacles to successful deployment. Additionally, the sheer scale and complexity of MNCs' operations demand careful consideration of customization needs, scalability, and alignment with organizational goals. The critical review highlights the need for a strategic approach to ERP implementation in MNCs. Successful cases often involve top management commitment, extensive user training, and a phased implementation strategy that accommodates regional variations. Furthermore, the study emphasizes the importance of post-implementation evaluation and continuous improvement to address evolving business requirements. Looking ahead, future directions in ERP systems implementation within MNCs are shaped by the rapid evolution of technology and the dynamic nature of global business. The integration of cloud-based solutions, the advancement of Industry 4.0 technologies, and the increasing emphasis on sustainability are anticipated to influence the next wave of ERP adoption in MNCs. This critical review contributes valuable insights into the current state of ERP systems implementation in multinational corporations, addressing trends, challenges, and future directions. It provides a roadmap for practitioners, researchers, and policymakers to navigate the complexities of ERP adoption in the ever-evolving landscape of global business.
 Keywords: ERP, MNCs, Industry 4.0, Multinational, Corporation, Review.

THE ROLE OF IT IN ENHANCING SUPPLY CHAIN RESILIENCE: A GLOBAL REVIEW

In today's dynamic and interconnected global business environment, supply chain resilience has emerged as a critical factor for organizations seeking to navigate uncertainties and disruptions. This review explores the pivotal role of Information Technology (IT) in bolstering supply chain resilience on a global scale. As supply chains become increasingly complex and vulnerable to various risks, including natural disasters, geopolitical tensions, and pandemics, leveraging IT capabilities becomes imperative for organizations aiming to build and sustain resilience. The review encompasses an in-depth analysis of how IT tools and systems contribute to enhancing supply chain resilience across diverse industries and geographical regions. The integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and blockchain is examined, shedding light on their transformative impact on supply chain management. These technologies enable real-time visibility, predictive analytics, and secure information sharing, empowering organizations to proactively identify risks and respond swiftly to disruptions. Furthermore, the review delves into the significance of digital platforms and cloud-based solutions in fostering collaboration and agility within supply chains. The ability to access and share critical information seamlessly among supply chain partners facilitates quick decision-making and adaptive responses to unforeseen challenges. Case studies from various global contexts provide insights into successful IT implementations that have significantly improved supply chain resilience, showcasing best practices and lessons learned. This global review underscores the indispensable role of IT in fortifying supply chain resilience. As organizations continue to grapple with an ever-evolving landscape of uncertainties, leveraging cutting-edge IT solutions emerges as a strategic imperative for building robust, adaptable, and responsive supply chains that can withstand and recover from disruptions effectively.
 Keywords: IT, Supply Chain, Resilience, Review, Technology.

HRM PRACTICES AND TURNOVER INTENTIONS IN SMES: A BANGLADESH-USA COMPARISON AMONG GEN Y

This comparative analysis investigates Generation Y's perceptions of Human Resource Management (HRM) practices in Small and Medium-sized Enterprises (SMEs) within Bangladesh and the USA's distinct cultural and economic contexts, employing a mixed-methods research design that combines quantitative surveys with qualitative semi-structured interviews. The study meticulously selects a stratified sample of SMEs across both nations to capture a wide array of HRM practices and organisational cultures, followed by rigorous comparative analysis and statistical examination to identify the impact of these practices on turnover intentions. Key findings highlight that while Generation Y employees universally value work-life balance, professional growth opportunities, and supportive work environments, regional differences are pronounced; American employees exhibit a strong preference for flexible working conditions and immediate feedback as key to job satisfaction and retention, whereas Bangladeshi counterparts prioritise job security and clear advancement pathways, underscoring the nuanced influence of cultural and economic factors on employee expectations. These insights emphasise the critical need for SMEs to customise their HRM strategies to meet the specific aspirations of Generation Y, advocating for a context-aware approach that transcends a one-size-fits-all model. The research underscores the strategic importance of understanding and integrating local cultural and economic nuances into HRM practices for SMEs, suggesting that such tailored strategies are pivotal in fostering a motivated, engaged, and loyal Generation Y workforce, thereby enhancing SME competitiveness in a globalised business environment.

THE MANAGEMENT OF FINANCES IN INTERNATIONAL PROJECTS: OPTIMIZING COSTS AND ENSURING SUCCESS THROUGH GLOBAL INVESTMENTS AND FINANCIAL MANAGEMENT

In the course of writing the scientific article, an in-depth study of aspects of financial management in the context of international projects was conducted. The focus was on analyzing cost optimization strategies and achieving success in a global investment and financial management environment. The conducted research shows that in the modern world of globalization, it is important to understand and effectively implement financial management strategies that take into account the unique aspects of international business. Particular attention is paid to the identification of risks related to the external environment, such as currency fluctuations, political and economic risks, which affect the effectiveness of financial decisions. Particular attention is paid to the use of specialized financial instruments to reduce risks, such as risk management and multi-currency settlements. The article analyzes in detail the influence of financial decisions on the effectiveness of international projects, emphasizing the strategic context of profit maximization and ensuring the stability of the financial position. The study of the interaction of financial mechanisms in international transactions takes place in the context of the unique challenges of the global business environment, including currency fluctuations and political and economic risk. In addition, the article summarizes recommendations and strategies aimed at achieving maximum efficiency and sustainability for international projects through careful strategic planning and cost optimization. A detailed analysis of various mechanisms of financial management in the context of global investments has revealed key principles that can serve as a basis for solving complex financial management tasks in international business.

An Application of Judgement Modeling to Examine Inter-Cultural Differences Regarding Perceptions of Business Skill Importance

With increased global interaction, cultural awareness among stakeholders is crucial, especially for companies seeking growth in the international environment. This study focuses on comparing the perceptions of business skill importance between student subjects from China/Hong Kong (CHK) and the United States (US). The results show that the six cues representing the business skills/attributes strongly influenced student perceptions of job offer likelihood and the relative importance of these cues were not equal, with Interpersonal Effectiveness (INPER), Internship Experience (INT), and Ethical Awareness (ETH) having a higher impact than Communication (COMM), Cultural Intelligence (CULT), and Critical Thinking (CRIT). The results indicated that INPER, INT, and ETH were associated with similar, substantial effects, while COMM, CULT, and CRIT exhibited smaller and comparable effects. The analysis revealed significant interactions between the country and two cues Interpersonal Effectiveness (INPER) and Ethical Awareness (ETH). Chinese students perceived INPER to be somewhat more important than U.S. students, possibly influenced by cultural dimensions such as the emphasis on interpersonal relationships in Chinese culture. Conversely, U.S. students regarded ETH as more crucial than their Chinese counterparts, aligning with findings that suggest cultural variations, particularly in power distance and collectivism, may influence ethical values. The findings enhance our understanding of the relative importance of business skills in different cultural contexts and provide insights for educational institutions and employers in preparing students for the global business environment. The study contributes to the existing literature by providing direct comparisons of student perceptions across cultures and employing a rigorous judgment modeling methodology.

Small Business Boom in Ecommerce: an in-depth Research Exploration

This research explores the transformative impact of e-commerce on small businesses, particularly in the context of their adoption of electronic marketing tools. Focusing on the rise of small businesses in the booming e-commerce landscape, the study delves into the challenges and opportunities faced by these enterprises, especially during and post-COVID. The investigation underscores the essential role of digital platforms, such as social media, in reshaping the global business environment. Emphasizing the importance of building trust and delivering value through customer-friendly websites, the paper also addresses key issues like cybersecurity, customer experience, and distinct value propositions. Through a mixed-methods approach, including surveys and literature reviews, the study provides insights into the strategies adopted by small businesses in embracing e-commerce, revealing a significant shift towards digitization. The findings highlight the multifaceted benefits of e-commerce, positioning it as a vital catalyst for the success and sustainability of small businesses in the evolving digital landscape.

Enhancing Project Performance through Effective Team Communication: A Comprehensive Study Integrating Project Management Quotient, Trust, and Management Information Systems

The aim of this study was to explore the relationship between project manager competence and project performance with the mediating role of team communication, employee trust, employee capability and team atmosphere. To achieve its objectives, this study used a quantitative research approach. Data was collected from 175 employees working on various projects in China. A structured questionnaire was used to collect the data from the respondents. All items were measured on a five-point Likert scale adapted from previous studies. Collected data was analyzed by using SPSS. The findings of the study showed that the performance of a project is significantly affected by the competencies of project managers. Moreover, the findings also showed that this relationship is significantly and positively mediated by team communication, employee trust, employee capability and team atmosphere. The findings show that the effectiveness of project manager competencies in enhancing project performance is influenced by these mediating factors which contribute to the success of the project. This research contributes to the theoretical understanding of project management by highlighting the multifaceted nature of project performance. It underscores the importance of holistic project management practices, where emphasis on both project manager competence and team dynamics is essential. Practically, the study offers insights for organizations and project managers, emphasizing the need for comprehensive skill development and fostering positive team environments. This study's originality lies in its comprehensive exploration of the mediating roles within the context of project manager competence and its implications in a globalized business environment.

Does the Average Age of Executives Affect the ESG Performance of Enterprises?

In today's global business environment, the importance of ESG has been widely recognized globally. This article uses data from 4578 A-share listed companies from 2015 to 2021 to study the impact of the average age of executives on ESG performance. The results show that the average age of executives is significantly positively correlated with ESG performance. For the three specific aspects of ESG, as the average age of executives increases, the performance of environmental (E) and social (S) also shows a better trend, but the performance of corporate governance level (G) is worse. This study suggests that companies should attach importance to the diversity of their executive teams, establish continuous training mechanisms, and develop clear ESG strategies and goals. This study provides more accurate guidance for enterprise decision-making, ESG management, and executive selection, and helps companies select and cultivate executives more accurately to ensure that the executive team is aligned with the company's ESG goals.