Global Competition Forces Research Articles

Effectiveness of ESG Performance Evaluation in Improving Corporate Sustainability: A Mixed Method Approach

The growing importance of global competition force companies not merely to sustain productivity and financial growth and plan for long-term competitiveness. Therefore, Environmental, Social, and Governance (ESG) principles, which guide companies in incorporating sustainability into their business practices, play a pivotal role in navigating the complexities of sustainable operations. Effective ESG performance evaluation is crucial in resolving business concerns. Accordingly, this research aims to analyze the most suitable approach to materializing and addressing ESG issues in corporate strategies. The proposed research methodology combines qualitative and quantitative analyses, including interviews, thematic analysis, and the analytical hierarchy process (AHP). The findings reveal that the Integrated Approach is the most effective strategy, with a weight of 24.1%, comprehensively balancing environmental, social, and governance priorities. The Stakeholder-Based Approach is also considered important, with a weight of 23.8%, emphasizing stakeholder engagement and collaboration. Meanwhile, the Compliance-Based Approach and the Opportunity-Based Approach exhibit lower effectiveness. This research contributes to a profound understanding of ESG performance evaluation, implementation strategies, and the role of sustainability in driving long-term business success while positively contributing to the environment and society. The limitations of the research and directions for future research are also discussed.

DETERMINANTS OF USMCA COMPETITIVE FORCE FORMATION

Understanding the factors that influence the formation of the competitive force within the United States-Mexico-Canada Agreement (USMCA) is crucial for delineating the features that contribute to the effective functioning and development of its economic competitive landscape. The primary objective of this article is to examine the impact of the interplay between determinants influencing the global competitiveness of member states and international integration groupings on the sustainable economic growth of the USMCA. The article introduces the author's conceptual framework, which presents a comprehensive classification of determinants that shape and enhance the adaptive competitiveness of integrated economic systems. This framework, alternatively referred to as the interpretation of the drivers of the USMCA's global competitiveness, applies to any international integration grouping. The proposed approach advocates the separation of the USMCA's development model as an independent entity, distinct from the model that governs the global competitiveness of individual member states. Notable differences have been identified by evaluating several determinants, including economic performance, government efficiency, business efficiency and infrastructure, on the formation of the global competitiveness of member states within the USMCA. The member states of the USMCA show significant differences in their global competitiveness. It is worth mentioning that the criterion of economic performance stands out as the most influential factor, with all three member states performing better in terms of competitiveness on this criterion. The study's findings underscore that the USMCA's competitiveness is a key feature of its economy. It is evident through the cumulative, synergistic effect of the pooling of global competitive forces among the member states. This amalgamation strengthens the USMCA's position in the global economy. Assessing the global competitiveness of the USMCA is important for delineating the development trajectories of member states within the international integration grouping. It is crucial for the design of a coherent competitiveness policy and the promotion of intergovernmental and inter-union dialogue. It also serves as a valuable indicator or marker of the USMCA's competitive development trajectory.

Configuration design of reconfigurable single-product robotic assembly line for capacity scalability

Rapid product changes and fierce global competition force companies to react quickly to market changes associated with dynamic capacity. This paper investigates how to design and reconfigure configurations of the single-product scalable reconfigurable robotic assembly line (RAL) over multiple demand periods (DPs) with fluctuating demands. A two-phase approach is proposed, in phase 1, the configuration of RAL is designed to minimize the capital cost following the initial demand. In phase 2, the reconfiguration for each DP is performed according to demand fluctuations to minimize the sum of capital costs and reconfiguration costs between consecutive DPs. Mathematical models for the two phases are established. Then a hybrid particle swarm algorithm combined with simulated annealing (PSOSA) is proposed for practical-sized problems, and PSO and SA are chosen for comparison. Two other different approaches are selected for comparison. In approach 1 (robust strategy), each DP of the product lifecycle is calculated separately, and then a fixed configuration that can satisfy the maximal capacity of all DPs is obtained. In approach 2 (changeable strategy), the minimal-cost configuration for each DP is calculated separately first, and then the reconfiguration cost between adjacent DPs is counted. Furthermore, a set of instances is designed and the computational results of three approaches accompanied by PSOSA, PSO and SA versus the devised instances demonstrate the superiority and robustness of the proposed approach and PSOSA.

COST OPTMIZATION WITH INTERNET SUPPORTED FMEA AND FUZZY FMEA ANALYSIS

The global competitive environment forces businesses to produce high-quality and low-cost products and they develop strategies in this regard. At the same, production risks should be identified and their effects on quality and cost should be minimized. The FMEA method is a risk analysis method that produces effective results. Traditional FMEA and Fuzzy FMEA analyses were conducted in the machining workshop of an enterprise with a wide range of products and semi-products in this study. Real-time data was obtained with the help of an embedded set of data processing cards, which use IoT technology. These data have been used to identify errors that cause production bottlenecks, and they were obtained without relying on the machine operator. Improvements were made in the riskiest subjects during the three-month analysis, and it was discovered in the cost records that a total reduction of 6% in production costs was achieved. Simultaneously, traditional FMEA and fuzzy FMEA results were compared.

Implementation of Tree Diagram Method, Failure Mode Effect Analysis (FMEA) and 5W 1H to Reduce Corky Defective Products in PT. XYZ

PT XYZ is a company that manufactures of tire fabrics in the Tangerang. Global competition force the company continues to strive to reduce process costs, one of which is by reducing the highest percentage of defects, namely corky defects, corky defects reach 39.7% of total defects. The tree diagram and FMEA methods, selected for the analysis of potential failures that cause corky defects are found namely: Threads are not clamped when changing pots, joints are not pulled at the beginning of running, roll regulator worn is used for the process, dirty of roll regulator is used for the process, wrong setting inner brake. The 5W 1H method results from corrective actions, namely: Refreshing programs for twisting production operators, checking periodically the roll regulator used by the process is still good, making schedules, and reporting on the implementation of cleaning roll regulators and evaluating by production leaders. From the corrective actions taken, it succeeded in reducing the percentage of corky defects in the twisting plant 2 process, down from 39.7% to 14.9% in semester 2 of 2021.

Challenges and Opportunities in Product Life Cycle Management in the Context of Industry 4.0

Global competition forces assembly, production, and logistic systems to be highly efficient and agile in delivering their product-systems to customers. To achieve this, Product Lifecycle Management (PLM) and Product Data Management approaches have been developed for managing product-related information across its lifecycle. However, the full potential of PLM has yet to be realized. Industry 4.0 refers to the fourth industrial revolution which promotes the usage of information and digital production with key enabling technologies including digital twins, internet of things, cloud technologies and machine learning. This paper aims to investigate opportunities that industry 4.0 technologies can offer to realize PLM by reviewing existing scholarly papers in this context. The characteristics of industry 4.0 technologies and their usage on PLM is also discussed. As a result of such critical analysis and cross-investigation, this paper discusses the challenges with PLM and proposes future research directions and a roadmap for realization of an integrated PLM by application of key industry 4.0 technologies.

The Effect of Spiritual Marketing and Entrepreneurial Orientation on Determining Sustainable Competitive Advantage: A Case Study of Soliko Kale Company

In today's world, local, national and global competition forces companies to perform correct and competitive business methods. These methods are related to spiritual marketing and entrepreneurship. These two factors will enable the spiritual marketing of the company to address the needs, desires, and expectations of people based on ethical principles, and the entrepreneurial orientation of entrepreneurship will also create something new and different from the competitors as a result of these two methods, which will lead to the company's activity to increase. Finally, with the above explanations, the purpose of this research is to examine the effect of spiritual marketing and entrepreneurial orientation on determining sustainable competitive advantage (case study: Soliko Kale Company. The research method of this article is applied in terms of purpose, a descriptive survey in nature, and cross-sectional in terms of time. The statistical population of this research is the employees of Soliko Kale company. The number of personnel of this company is 125 people. The sample size was determined based on Cochran's formula of 94 people. The sampling method was chosen as simple random. The data collection tool, according to the standard questionnaire of Bambang et al. (2021), included 20 questions, the validity of the questionnaire by the supervisor and experts, management experts, and their reliability by calculating Cronbach's alpha coefficient for all conditions were confirmed to be greater than 0.7. In this research, 7 hypotheses were examined based on the conceptual model. Two types of descriptive statistics (using SPSS software) and inferential statistics (using PLS software) were used for data analysis. A structural equation test was used to check the model. The results of all hypotheses confirm the research model, and the results show that to create a sustainable competitive advantage in general marketing, it is necessary to implement spiritual marketing and promote entrepreneurial orientation. The innovation of this research study record is about the role and position of spiritual marketing in relation to marketing capabilities and sustainable competitive advantage along with entrepreneurial orientation variables.

MEJORA DE LAS HABILIDADES EMPRENDEDORAS MEDIANTE LA EXPERIENCIA DE APRENDIZAJE CO-OPETITIVO: UN CASO DE ESTUDIO EN UNA UNIVERSIDAD ESPAÑOLA

Global competition and digital market forces imply opportunities and threats in an increasingly fast and competitive job market. In this context, motivated learning through collaboration or cooperation have been extensively studied to develop necessary skills to be competitive. However, in undergraduate teaching little attention has been given to learning through competition and co-opetition, which is more common in entrepreneurial education. This paper proposes and tests a new classroom methodology where undergraduate students in the course Microeconomics interact in teams playing out features of the four C’s of game-based learning in an entrepreneurial environment: cooperation, collaboration, competition and co-opetition. The pedagogical pilot-project, dubbed as “Micro-Challenge”, is a peer-based student challenge which has been implemented in face-to-face classes as well as in a hybrid classroom. A posterior analysis of survey data and academic results, using regression analysis, reveals that the development of collaborative skills and team-based skills depend on personal characteristics and expertise while there is no significant effect of academic performance. Moreover, women are more likely to improve team-working or collaborative skills through the proposed challenge than men and engagement in terms of induced learning effect is found to be higher for students who are already endowed with a high level of competitive or collaborative attitude.

Внедрение принципов бережливого производства в здравоохранение и фармацевтическую отрасль

The need for effective functioning in the conditions of global competition forces humanity to master new technologies, methods and approaches. The changing economic environment requires manufacturers to more actively adapt to the requirements of consumers. Experts note the relevance of working with the entire value chain. Therefore, it is preferable to rely on international experience in the implementation of integrated traditional and modern production systems. The article presents an analysis of previous literature reviews on the implementation of lean thinking in the healthcare and pharmaceutical industries.

Informacioni sistemi u malim i srednjim preduzećima tekstilne i odevne industrije

Market uncertainty and financial instability in the era of global competition force companies to work faster and increase productivity and business efficiency with continuous cost reduction and qualitative efficiency, which serves as a basis for strengthening the competitiveness and sustainable development of all, including SMEs -small and medium-sized enterprises of the textile and clothing industry. Various innovative contents and adequate technological solutions, as well as reengineering of business/production processes, with massive and adequate implementation of technical-technological innovations based on information and communication technologies -ICT and flexible automation, i.e. on the direct and efficient implementation sector defined information systems, also represent possible elements of functional competitiveness and sustainable development. Otherwise, changes in the environment and ways of doing business of companies require a better understanding and integration of data, as well as their more efficient exploitation in the functioning and development of the company, which imposes the need for permanent generation, adaptation and development of quality and efficient information systems. As a result of such requirements, the responses of industrial production through the implementation of technical-technological innovations are inevitable, whereby quality and efficient ICT infrastructure, coherence of innovative technologies and flexible production, as well as compatibility and complementarity of production and business information systems, are necessary elements and indicators of efficiency and quality. The implementation, efficient exploitation, as well as the development of various business and production information systems, obviously has its benefits, presented through more efficient, better quality and faster operations, but also disadvantages, because it is obviously conditioned by the stochastic laws of the global market, the variable human factor or the lack of high-quality, highly educated professionals staff, requirements for high initial investments, but also the specifics of the textile/clothing industry and SMEs, as well as the incompatibility of the implemented production and business systems.

Green Experiential Marketing, Experiential Value, Relationship Quality, and Customer Loyalty in Environmental Leisure Farm

Environmental/green marketing has emerged as one of the dominant paradigms of marketing in recent years. However, aspects, such as internationalization, the development of artificial intelligence, and stress from growing global competitive forces, have brought about changes in the way leisure farms approach experiential marketing with a significant environmental focus. In this context, the concept of relationship quality offers an opportunity for environmental leisure farms to understand how green experiential marketing impacts consumers’ perceived value and the ongoing interaction relationship. This study adopts a comprehensive perspective that includes green experiential marketing and relationship marketing that leisure farms use in order to enhance customer loyalty, and analyzes the effect of a series of elements inherent to customer psychic or personal needs. Seven hundred fifty-four valid copies of questionnaire were adopted in total. To verify the proposed model empirically, a survey of customers of environmental leisure farms in Taiwan was conducted. Structural equation modeling is conducted to examine the research hypotheses. The findings show that, overall, green experiential marketing has positive direct effects on experiential value and experiential value has positive direct effects on trust, commitment, and satisfaction. At the same time, trust and satisfaction have positive effects on attitudinal and behavioral loyalty. In addition, attitudinal loyalty has a positive influence on behavioral loyalty.

THE APEC INTEGRATED COMPETITIVE FORCE INDEX

The number of actors that affect the distribution of the competitive force in the global economy is growing, and the spheres of economic competition or cooperation are expanding to build up the competitive force. The article emphasizes the significant impact of international economic integration on the sustainable economic development of the world economy. It also shows that the study of the competitive force of interstate integration groupings is highly relevant today, as international economic integration plays a fundamental role in the development of trade and competitive relations between countries. The paper offers the methodology for competitiveness grouping of Member States of the international integration groupings in order to assess the global competitive force of trade and economic groupings in the world economy. The purpose is to investigate the Integrated Competitive Force Index of Asia-Pacific Economic Cooperation (APEC) 2019 in order to analyze the attractiveness of APEC in terms of the global competitive force. It is also important to determine the attractiveness of APEC competitive environment according to 12 criteria on the basis of the research, which, in turn, allows for a better understanding and ranking of interstate integration groupings according to their competitive forces. Result. Based on the data of the Global Competitiveness Report 2019 on the competitiveness of Asia-Pacific Economic Cooperation Member States (APEC), the Integrated Competitive Force Index of APEC as an interstate integration grouping has been calculated. The Index will help to assess economic integration or disintegration processes in the global economy. The article proves the necessity of the annual integrated competitive force ranking of international integration groupings. Practical implications. The introduction of the new Integrated Competitive Force Index of interstate integration groupings will help competition policymakers to decide which processes of economic integration or disintegration should be preferred in order to build up their competitive force in the global economy.

The EU Global Competitive Force Index

Introduction. With this paper we want to show that the study of international competitiveness only at a country level does not correspond to the contemporary development of the global economy. The author presents the methodology for competitiveness grouping of international integration groupings’ member states in order to assess the global competitive force of trade and economic groupings in the world economy. Based on the data of the Global Competitiveness Report 2019 regarding the competitiveness of the EU Member States, the Global Competitive Force Index of the EU as an interstate integration grouping has been calculated. The Index will help evaluate economic integration or disintegration processes in the global economy. The research demonstrates the necessity of the annual global competitive force ranking of international integration groupings. This study will enhance knowledge in the field of economics by grouping the EU Member States’ global competitiveness indices according to 12 criteria and identifying the new quantitative and qualitative integrated Global Competitive Force Index of an international integration grouping. To reach this objective, we will define the Integrated Global Competitive Force Index as the average of the individual points of the EU Member States in 2019. The novelty of our study lies in the comparative analysis of the three largest interstate integration groupings from the perspective of their competitive force. The introduction of the new integrated Global Competitive Force Index of interstate integration groupings will help competition policy makers decide which processes of economic integration or disintegration should be preferred in order to increase their competitive force in the global economy. The purpose. Research and calculation of the European Union’s Integrated Global Competitive Force Index to analyze the attractiveness of the European Union in terms of global competitive force. Based on the calculation of the EU Integrated Global Competitive Force Index 2019, the attractiveness of the EU competitive environment has been determined according to 12 criteria. Results. The ranking of the three largest regional integration groupings of the world economy has been formed. Specification of the assessment and results of the integrated index of interstate integration groupings’ global development can be used for the competition policy development of the individual member state of an integration grouping as well as the communitarian competition policy. The EU Integrated Global Competitive Force Index will help understand what the integration grouping’s competitive force means and whether the process of interstate integration of countries contributes to enhancing the competitive force of an individual country and the integration grouping as a whole. To calculate the EU Integrated Competitive Force Index, we will analyze the Member States on 12 competitive strength criteria, and Global Competitiveness Report 2019 will serve as the basis for our study. According to our calculations, the EU Integrated Global Competitive Force Index is 72 points out of 100. Conclusion. The results of a comprehensive integrated assessment of the competitive force of 28 EU Member States demonstrate a high overall competitive force index of the grouping, indicating the EU’s impact on global competitive processes. The EU Global Competitive Force Index can be used both as an indicator of the separate international integration grouping’s development and as a global criterion for the effectiveness of interstate integration groupings in the transformation of international competitive relations. Discussion. The highlighting of the EU global competitive force is a requirement for the contemporary development of the global competitive environment, since interstate integration groupings are the main actors of the world economy, which significantly affect the distribution and growth of competitive force.

ВПЛИВ ВСТУПУ КРАЇНИ ДО ІНТЕГРАЦІЙНОГО ОБ’ЄДНАННЯ НА ЇЇ КОНКУРЕНТНУ СИЛУ

The article examines the process of a country's accession to international integration groupings. It emphasizes that upon accession countries rely on either megatrends (globalization, integration and democratization) or countertrends (isolationism, disintegration and de-democratization). It is noted that the complex dialectic of megatrends of today's world economy adds to the complexity of the country's positioning in the international arena. The establishment and consistent complication of the transregional architecture of world economic relations has underlined the urgency of a comprehensive understanding of the phenomenon of building up the Member States’ competitive force. The paper considers the forms that countries face during the implementation into the interregional relations system: leadership (international integration grouping that forms the rules and paths of interregional relations); emulation (import of a model of another regional group in the process of interaction); cooperation (providing any aid or assistance in the interregional cooperation); exchange (liberalization of trade and economic cooperation). The article identifies the factors determining the multiplexity of the world economy. A number of indicators for assessing the effectiveness of the county’s accession to the interstate integration grouping on its global competitive force has been determined. The effects of international economic integration that affect the global competitive force of a potential Member State of an international integration grouping have been highlighted: the establishment of a single market, reduction of trade-related costs, redistribution of trade flows, changing the volume and structure of international trade (within the grouping and with third countries); redistribution of investment flows and enhancing international investment; strengthening the international division of labor, structural and technological changes in the manufacturing sector; the price level change and transforming pricing mechanisms, change in the volume and structure of consumption, establishment of a new competitive environment, liberalization of entry into industry markets; changes in employment and wages, education and health systems; implementation of the agreed economic policy, changing the model and quality of state regulation and political strategy of the country.

Ontology Supporting Green Supplier Selection Process

At present, companies need to consider and include so-called ‘green strategies’ in order to retain competitive advantage. The common understanding of functionality of supply chain as well as collaborations among this between suppliers and partners means that companies need to do much more in order to ensure the greener effect. On the other hand, a scattered model of conducting businesses and global competition force companies to consider the necessity for development the activities of proper selection and evaluation of beneficial supply chain partnerships. Due to large amount of literature-based references of green supplier selection and evaluation, knowledge scattering of greener collaboration is noticeable. In addressing this research challenge, capturing knowledge in one place in the form of ontology for enabling selection and evaluation criteria of suppliers is proposed. Within this paper, an attempt to application of ontology-based model for supplier’ selection and evaluation criteria is developed. This model is implemented on base of distinctive set of criteria derived from revised literature, nevertheless the public and common availability of the proposed model suggests to other researches to collaborate in this field by adding, sharing and reusing knowledge of alternative criteria of green supplier’ selection.

Green manufacturing by using organic cooling-lubrication fluids

The global competition and trends force the manufacturing industry players to permanently innovate, reduce costs and become more environmentally friendly, thus the pressure for eco-friendly, sustainable and more reliable products is rising. The environmental concerns have begun to be increasingly included in sustainable development strategies of the companies since the effects of worldwide pollution have become more and more visible. In manufacturing industry, in machining units, the cutting fluids are an important source of expenses and they can also be a threat for environment and employee’s health. This paper presents a study regarding the possibility of replacing the traditional flood cooling in hard turning with minimal quantity lubrication using vegetable biodegradable oils since the scientific community has brought many contributions to the phenomenon of replacing grinding with hard turning. The capability of hard turning to replace grinding in many industrial applications is proved and thus the elimination of harmful coolant and transition to biodegradable cutting fluids seems to be the way of the future in machining.

Innovative regional development through triple helix collaboration: a comparative case study of strategic structures and implementation

Intense global competition forces regions to seek new ways to boost innovativeness and the success of local enterprises. This paper focuses on triple helix collaboration to support regional innovation-led development and economy. Various options exist for structuring and implementing triple helix collaboration. However, current empirical knowledge is inadequate for stakeholders interested and involved in regional strategy creation and implementation. This study analyses the strategic structures and implementation of triple helix collaboration in two regional cases: Brainport (Netherlands) and Oulu innovation alliance (OIA, Finland). Case Brainport introduces a holistic approach and high profile role in regional development, whereas case OIA demonstrates the knowledge institutes' role in regional development in five spearhead areas. The cases illustrate two empirical ways to utilise triple helix mandate and strategic structures in regional development and strategy processes. The case comparison demonstrates diverse options for organising triple helix collaboration.

R&D Tax Incentives for Innovation and Managerial Decisions

In many countries tax incentives are a popular means of realizing political, economic and social objectives. The main motive of their application is often to achieve and accelerate the selected activities in the public interest and also stimulate development of industry, and induce growth in research and investment. The key element that helps a company achieve a competitive advantage is innovation. Global competition forces the production of unique products and services. Tax incentives in science, research and development are important in stimulating innovation. The purpose of this article is to show the level of managerial awareness about R&D tax incentives, the level of R&D tax incentive usage by companies in Poland, and main obstacles that managers meet with R&D tax incentives in practice. We explore R&D tax incentives as a government instrument on R&D management and aim to find the reasons why Polish companies do not take advantage of them. We examine 275 companies using a semi-structured questi onnaire. Our findings suggest that many firms report lack of knowledge about such incentives, and firms find many obstacles to reach all of the requirements which are necessary to use the incentive. Due to our analysis we find that large firms, especially those that implement innovation, are more likely to use the tax incentives, but small and medium sized companies find more obstacle. The effect of this tax policy is significant mainly in large, high-tech sector firms.

An Industry Response to Challenges in STEM and Agricultural Literacy

Access to food is a basic necessity for all humanity, and the United Nations estimates there will be 9.7 billion people on the planet by 2050. This provides a unique challenge for the agricultural industry to address the growing food demand while global competitive forces struggle to balance the use of limited resources such as land and water. The United States Department of Agriculture projects 57,900 average job openings annually in the next 5 years for graduates in food, agriculture, renewable resources or the environment. As an industry, agricultural companies play a supporting role in providing the education necessary to create scientifically literate and informed communities regarding food and production agriculture. In an effort to do this, Dow AgroSciences created the Science Ambassadors program. The mission of this program is to empower employees to inspire their communities by promoting scientific literacy.

КОНКУРЕНТНИЙ СТАТУС УКРАЇНИ

The article examines the competitive status and competitive positions of Ukraine. It proves that in the current context the competitive status of the national economy is determined by the presence of a strong global competitive force that provides dynamic growth based on innovation potential, developed institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism rather than by traditional factors (natural resources, geopolitical situation). It has been identified that a wide range of factors in global competitive force establishment suggests the complexity of its assessment. It has been noted that in world economic practice the Global Competitiveness Index of the World Economic Forum is predominantly used to assess the competitive status of the national economy. It has been determined that according to this index, in the overall ranking among 141 countries in 2019, Ukraine ranked 85th (2009-2010 – 82/133; 2018 – 83/140). The article analyzes of the competitive status of Ukraine in the international arena in terms of twelve pillars of the studied index and in the context of components of the said pillars. The dynamics of Ukraine's global competitive force in recent years shows that there has not been any build up. However, if one analyzes it in terms of the criteria of the global competitive force of the domestic economy, their assessment is volatile: the main regression can be traced in the sphere of the financial system, where Ukraine dropped by 19 positions in one year (2018 – 117/140, 2019 – 136/141), and the greatest progress is observed in the product market, where Ukraine rose by 16 positions in one year (2018 – 73/140, 2019 – 57/141). Analysis of the components of Ukraine’s global competitive force criteria shows that the worst positions in terms of such components are as follows: non-performing loans (% of gross total loans) – 139/141 and soundness of banks – 131/141. The best positions are in terms of the following components: costs of starting a business – 14/141 and attitude towards entrepreneurial risk – 18/141.