Improve Business Results Research Articles

DIGITALISATION AS A MARKETING MANAGEMENT TOOL IN THE TOURISM INDUSTRY

This article explores the concept of digitalisation and its impact on marketing management in the tourism industry. The study examines the evolution of digitalisation from its origins in the 1960s and 1970s to its current role in the economy, with a particular focus on the tourism sector. Objective of the research. The aim is to explain the multifaceted nature of digitalisation and highlight its importance as a transformative force in the tourism industry. The study aims to demonstrate how digitalisation fosters innovation, increases operational efficiency and creates personalised and interactive experiences for consumers. It seeks to provide a clear understanding of how digital tools and technologies can be strategically integrated into marketing practices to improve business results and customer satisfaction. Research methodology. The study employs a comprehensive literature review, in which the various definitions and interpretations of digitalisation proposed by renowned scholars are subjected to analysis. Furthermore, case studies and practical applications of digital technologies, including Big Data, blockchain, artificial intelligence, mobile applications, virtualisation technologies, and the Internet of Things (IoT) in the tourism industry, are also considered. A comparative analysis is applied to identify the most informative and widely recognised definitions of digitalisation, with particular emphasis on the definition proposed by Laudon and Laudon (2019) due to its clarity and comprehensiveness. Research results. The findings indicate that digitalisation is a critical catalyst for rewriting the travel narrative for consumers, transforming destinations into dynamic, interactive, and responsive ecosystems. The incorporation of digital technologies within the tourism sector not only optimises operational efficiency but also markedly enhances the customer experience. The implementation of personalised marketing, the utilisation of AI-based customer service tools and the application of predictive analytics have been identified as key benefits. However, the study also identifies challenges associated with data privacy, integration with existing systems, and the necessity for continuous adaptation and improvement of CRM strategies to align with evolving customer expectations. Practical implications. Digitalisation opens up significant opportunities for the tourism industry to innovate and maintain competitive advantage in a rapidly changing market environment.

Sustainable Business Development Strategy In Cassava Cracker Production Business

Cassava is a plant originating from Central and South America, as a type of tuber plant that has high carbohydrates. As many people know, food made from cassava will give a feeling of satiety, so in some regions in Indonesia cassava is used as a staple food as a substitute for rice. As a root crop that cannot last long, some people take the initiative to process cassava into dry food that can be stored for several months but still has a good taste as a snack or food accompaniment. Several groups of housewives took the initiative to process cassava into savory and crispy crackers, and can increase family income. As a cassava cracker processor in the countryside, it still uses a chopper for raw materials that are still simple to produce cassava crackers. The purpose of this study is to find out the level of effectiveness of cassava cracker processing so that it has more selling value and export quality, with a strategy that can develop a sustainable business, so that it becomes one of the products that is competitive and exported abroad. In terms of production, cassava cracker orders are quite promising, but are still constrained by several conditions that result in not fulfilling all orders. This makes the researcher intend to help producers to be able to increase the production of cassava crackers that have characteristics and can be competitive until they are exported abroad. The strategies offered will have an impact on improving business results and sustainable and competitive cracker production processes, testing the quality of cassava crackers, packaging and branding, and marketing strategies. The expected output is that researchers can contribute to sustainable business development for producers and can be published in international journals.

Exploring customer preferences to drive successful food supplement placement in Croatia

This study examines the preferences and influences on the decisions of Croatiancustomers when purchasing food supplements. A survey of 312 customers of foodsupplements in Croatia found that distribution channels and pharmaciessignificantly influence the purchasing process, attributed to the value added bypharmacists. The most important aspects that customers consider are the type andamount of active and auxiliary ingredients (excipients) of the product. Brand-conscious customers consider the manufacturer and the product’s country of originimportant. The greatest influence is the recommendation of family members orfriends. People prefer to choose a food supplement that offers value for money, butthose without previous experience with the product are more price sensitive andbuy on sales promotions such as discounts and packaging at a promotional price.Based on the results of this study, manufacturers and distributors of foodsupplements can create strategies in which, through co-creation with consumers,they achieve a competitive edge, encourage loyalty, and improve business results.

Research of the potential impact of social engineering on digital transformation processes

Digital transformation reflects the process of transition of society and business to new technologies in order to improve operations and provide new opportunities. This process includes the introduction of artificial intelligence, the Internet of Things, cloud services, and many other technologies to improve business results. Such a transition promises us a number of advantages, including: flexibility and efficiency of digital processes due to total computerization; increasing the efficiency of production processes due to the Internet of Things, cloud computing and automation; improving interaction with customers based on artificial intelligence. This is far from a complete list of Digital Transformation technologies. But no matter how many technologies appear in the future, all of them, along with their advantages, create new challenges for cyber security, including those based on social engineering methods. Social engineering is manipulative and deceptive methods used to obtain confidential information, access systems, or gain control over people through the use of psychological and social mechanisms. The article examines known cases of cyberattacks using social engineering. It is shown that neither small nor large companies are immune from social engineering. The basic model of social engineering, which is based on the tendency of people to transfer all information and perform illogical actions, was studied. Social engineering technologies were analyzed: Pretexting, Phishing, Road apple, Shoulder surfing, Service for service. Potential threats from social engineering methods for systems: SCADA, Cloud Computing, Internet of Things, Drones, Big Data, Blockchain, Artificial Intelligence and Social Networks are assessed. The key means of countering social engineering in the era of digital transformation have been identified. Conclusions are made regarding the impact of social engineering in the future.

The Impact Of Hr Analytics On Organisational Culture And Employee Engagement

The human resources (HR) department is among the most human-centric departments in every organization, primarily focusing on supporting and developing the workforce that ensures long-term growth and viability of businesses. This is why HR is a key area where data is particularly valuable. Data is an integral part of the HR landscape. Its data repository captures the dynamics of the organization’s people and their workplace interactions. HR data can help organizations uncover more effective strategies for team management, enhance overall company performance, and yield improved business results, especially during times marked by uncertainty and change. A 2022 report by Harvard Business Review Analytic Services found that progressive organizations utilize people data beyond the HR department, and they often combine this people data with business data to deliver critical insights to their decision-makers.

An efficient method for mining High-Utility itemsets from unstable negative profit databases

The study of High-Utility Itemset Mining (HUIM) and Frequent Itemset Mining (FIM) is crucial since it explains consumer behavior and offers actionable advice to improve business results. HUIM algorithms have been successfully established to identify high-utility itemsets, including those with negative utilities. The problem with these approaches is that they presume incorrectly that items with negative utility across transactions would always be losses. Products with positive profitability may seem negative when combined with other items to increase sales or reduce inventory. Using strict upper-bound approaches, this paper presents strategies for making database scanning more efficient and reducing the number of prospective candidates. We also prove that it is correct to use the proposed upper-bounds for pruning on several types of items in the database. Based on all the proposed solutions, we develop a novel algorithm to solve this problem efficiently. To demonstrate their efficiency, the algorithms are tested against states-of-art HUIM algorithm on diverse datasets with regard to size and characteristics with unstable negative profits.

Business Excellence of Eco-Friendly Hotels in the Region of the Western Balkans: Case Study of Eco-Friendly Hotels in Serbia

Hotel industry, as a very dynamic activity within the tourism industry, applies innovations in business and develops voluntary eco-business standards for developing sustainable tourism. The paper aims to assess business excellence of hotels that are holders of the international eco-certificate Green Key in Serbia, a country in the Western Balkan region, by using the BEX model. The study reviews and presents the current situation when it comes to implementation and valorisation of eco-principles and standards in hotel business in Serbia, while examining their business excellence, as well as the opportunities for better positioning in the international tourism market. The research results show that the examined companies do not have poor ranks of business excellence. It is recommended for these hotels to continue with the current business while implementing innovations in sustainable business in order to improve business results. By monitoring the value of the BEX index, it is possible to avoid business risks, while expanding eco-awareness and implementing sustainable business policies, which would help hotel companies improve their business.

From lead generation to social media management: How RPA transforms digital marketing operations

The application of robotic process automation, commonly known as RPA, is disrupting the digital marketing realm by reducing and automating repetitive high-volume tasks across myriad functions. In this paper, the effects of RPA in significant core digital marketing processes like lead generation, social media, and email marketing are analyzed. RPA travails to advance data intake, lead management, and customer relations in marketing and sales effectiveness and velocity. For example, in Lead generation, RPA, especially in identification and filtering, uses the internet to do the job, leading to a lot of time-saving.. In social media management, RPA tools can automate scheduling, specifically monitoring the brand mentions and generating responses to relevant posts to help marketers move from the tactical to the strategic level. Similarly, it describes how effective email marketing is supported by RPA, which increases the level of campaign customization and performance monitoring. Some of the specific applications and benefits of applying RPA in digital marketing are presented in the context of this research, as well as the clearly prominent cost and time savings from automating routine tasks. With AI and ML now slowly integrating into the field of RPA, we can expect the potential of RPA in digital marketing to increase even further as more businesses adapt to the technology. The information presented in this article is meant to help educate a reader on how RPA enhances the processes involved with digital marketing to improve business results and customer experiences.

Model of the Factors Affecting the Eco-Innovation Activity of Bulgarian Industrial Enterprises

In recent years, modern society has faced a number of challenges related to the achievement of global goals for sustainable development. Industrial enterprises are challenged to generate, stimulate, and demand changes in networks and supply chains, but these challenges require flexibility and innovation activity in different directions. The data for Bulgaria show that the country is last among the countries of the European Union in terms of the creation and implementation of eco-innovations. Despite this result, the pace at which the country is developing shows that in the next few years, Bulgaria has the potential to move from a modest to a moderate eco-innovator, provided that it succeeds in filling the structural gaps in the system of ecological innovation. These gaps are related not only to the need for changes in the investment of resources but also to the need for changes in individual and related systems such as science and innovation, support for SMEs, the energy system, etc. Most of the research on sustainable innovation and eco-innovation has, however, focused on firm innovation models dominated by short-term profit-maximizing approaches. Therefore, there is a need to conduct research and propose adequate strategies for modern business environments and design models that facilitate the implementation of eco-innovations in industrial enterprises. The purpose of this report is to investigate the factors influencing the development of eco-innovation activities of Bulgarian industrial enterprises, examining how they can help to achieve success through eco-innovation and improve business results. A factorial model is proposed, through which the relationships between technological, financial, organizational, informational resources, research and development activities (R&D), and company cooperation are analyzed. The PLS structural equation modeling technique was used to validate the proposed theoretical model. The survey was conducted among 380 industrial enterprises from all over the sectors of the economy in Bulgaria with the help of a specially developed questionnaire within the period of April 2019 to December 2021. The obtained results show that human resources, financial resources, and cooperation positively influence research and development activities. In addition, the achievement of a positive effect on the management of eco-innovations affects the innovation activities of industrial enterprises, their ability to carry out research and development activities, as well as their ability to manage the technical and technological resources at their disposal effectively. Finally, the innovation activity aimed at carrying out scientific research and development activity, products and processes obtained as a result of the eco-innovation activity, and adequate information management directly affect the efficiency of business processes and financial results.

The Relationship between Market Orientation, Innovation and Business Performance of Hotel and Restaurant Businesses in Ho Chi Minh City: The Moderating Role of Business Environment

The study was conducted to examine the relationship between market orientation, innovation, and business performance through the role of regulation of business environment. By the quantitative research method combined with the qualitative research method, structural equation modelling (SEM) is performed with a sample size of 503 observations, the participants are the leaders of the hotel, restaurant in Ho Chi Minh City. The results show that there is a positive relationship between market orientation, innovation, and business performance of hotel – restaurant businesses. The business environment plays a role in regulating market orientation, innovation, and business outcomes. Through the regulatory role, the business environment factor plays a role in increasing the business performance of hotel – restaurant businesses. The results have brought practical significance to hotel – restaurant businesses. Managers needs to focus on market orientation, and innovation to improve business results. In addition, before the fluctuations of the business environment, restaurant – hotel businesses need to take advantage and grasp to adjust the appropriate market orientation and innovation strategies to contribute to improving business results. Finally, some limitations are also mentioned in this study.

ЭКОНОМИЧЕСКАЯ ЭФФЕКТИВНОСТЬ ИНФОРМАЦИОННОУПРАВЛЯЮЩИХ СИСТЕМ ОРГАНИЗАЦИИ, ИСТОЧНИКИ ВОЗНИКНОВЕНИЯ, МЕТОДЫ ОЦЕНКИ

Information-management systems of an enterprise’s resource planning, such as ERP, CRM, SCM and so on, are an integral element in the management structure of a modern organization. Developers of such software products conduct continuous improvement of software functionality, introduce various elements of analysis, elements of artificial intelligence, and unify the information exchange system of software products of various developers. In order to improve business results and acquire the economic advantage over competitors, organizations have to consider the possibility of updating or replacing the operated information management systems. However, the analysis of the results of such investment projects conducted by various independent experts reveals many negative results of implementation. The article is devoted to the study of possible problems of assessing the economic efficiency of informationmanagement systems and the study of methods of their effective implementation. The methodological basis of the study is grounded in the analysis of various theories of assessing the economic efficiency of information-management systems in the scientific research of the most famous authors. The main sources and mechanisms of the occurrence of economic efficiency arising during the implementation of projects are considered. An approach to calculating economic efficiency based on the analysis of information support of the organization is proposed. The results of the study can be used at the decision-making stage on the implementation or modernization of information-management systems, as well as to improve functional abilities and increase the economic efficiency of existing systems.

ІЄРАРХІЧНА КЛАСИФІКАЦІЯ ФАКТОРІВ ВПЛИВУ НА СИСТЕМУ УПРАВЛІННЯ ФІНАНСОВОЮ СТІЙКІСТЮ ПРОМИСЛОВОГО ПІДПРИЄМСТВА

The purpose of the article is to form a set and hierarchical classification of factors influencing the system of financial stability management. The paper proposes hierarchical relationships of factors influencing the financial stability management system, which, in contrast to existing approaches, allows to take more fully into account the factors that determine the effectiveness of financial stability management and form a mathematical model of intellectual support for management decisions. The linguistic variable that corresponds to the indicator of the effectiveness of financial stability management is presented as a function of the components that describe the impact of financial and economic factors on the financial stability management system; the influence of production factors and management factors.
 The practical significance of the results is that the theoretical and methodological provisions of scientific work are brought to the level of specific practical recommendations for the formation of the financial stability management system and can be used by industrial enterprises to make management decisions to improve business results in their relationship and interdependence.

Development of an integrated knowledge management and quality management model for small and medium sized companies in Trinidad and Tobago

There appears to exist limited research regarding the integration of Knowledge Management (KM) and International Organization for Standardization (ISO)’s ISO9001 Quality Management Systems (QMS) for Small and Medium Sized Enterprises (SMEs), for Trinidad and Tobago (TT) and the Caribbean Region. TT has over 16,000 SMEs and approximately 10,000 micro enterprises, representing over 70% of all registered businesses, that employs over 50% of the workforce. SMEs spark competition, create jobs, as well as promote innovation and knowledge transfer, thus are the engine of economic growth. SMEs in TT need to develop KM practices to compete regionally and globally, especially with the advent of the COVID-19 pandemic, which has triggered the deepest economic recession worldwide. Existing integrated KM models in other jurisdictions cannot be adopted in TT as KM is a culturally sensitive platform that needs to be customized to its applied environment. Results of a survey identified the Critical Success Factors (CSFs) for both Quality Management (QM) and KM required for the successful implementation of a Knowledge Management System (KMS). Data obtained showed that although the SMEs in TT demonstrated insignificant KM maturity, there is KM readiness, due to the existence of QMSs, significant information systems, human resource support, technical infrastructure, and senior management commitment. A five phase KM/QM integration model for SMEs in TT is proposed. Managers of SMEs and other similar operations may apply the findings of this study to develop strategies to integrate QM and KM to improve business results.

Layout optimization methods and tools: A systematic literature review

Purpose: This article aims to show the methods used to optimize layout and tools that have been applied since 2010 in the most diverse production environments.Theoretical Reference: Due to the intense competitiveness and uncertainties in the current market, improving processes and increasing production efficiency by managing the layout of a facility can be one of the methods to benefit organizations. In this context, knowledge of the main tools and methods is essential in defining the conduct of studies.Design/methodology/approach: Research was carried out through a systematic literature review. The databases used were Science Direct and Portal Capes. Using keywords, a defined scope and the relevance of the theme, international articles were selected for reading and discussion.Findings: Through the review, it was possible to select 51 articles which were relevant to the topic. Due to the complexity of the layout management study, it was found that increasingly more algorithms, mathematical and computational models are being used to solve these NP-hardness problems.Research, Practical & Social implications: adjusting to new methods and ways of solving problems laying out facilities, although scenarios can be extremely varied, they can improve business results by making the process more efficient.Originality/value: The article compiles and briefly explains the methods found to optimize the layout, which is of great importance considering the knowledge that these models spread on production management practices.Keywords: Layout optimization. Algorithm. Method. Facility layout planning.

Historical Development of Organizational Behavior Management

Purpose: The study aims to review the existing literature linked to the field of Organization Behavior Management (OBM) and provide a historical account of OBM development based on the existing literature. Design/methodology/approach: The study performs keywords search of published OBM articles from 1950 onwards in widely used research databases. All materials were reviewed, i.e., the title, abstract, background, and methodology, to determine whether they are in line with the objective of the current study. Findings: The historical review shows that OBM practices applied widely over the years were visible in various sectors in the late 1960s and early 1970s. By the end of the 1980s, the OBM discipline was well established. It has produced considerable evidence through behavior analytic interventions that modify human behavior at work. Research findings show that OBM practices help an individual to understand how to carry out one’s tasks/activities within the organization to improve business results. Research limitations: Research scholars have limited knowledge that provides an error-free study of the OBM field past events. The historical development of OBM involvements and their recent contributions can be found in research publications of the Journal of Organization Behavior Management (JOBM). Practical implications: The current study provides insights about the developmental phase of the OBM field and discusses how it changed the behavior analytic for enhanced delivery at workplaces. Historical events such as Skinner’s behavior modification account for the development of OBM that influences traditional management and is used today in a variety of situations by OBM practitioners. Originality/value: This paper provides a historical evaluation of the OBM practices. It expands our knowledge of the OBM field and its interventions over time. Reflections of the study highlight the need for OBM practices for the successful functioning of various types of organizations.

Financial wellness programs in the workplace: Evidence from employers in the caregiving industry

Employee financial wellness programs (EFWPs), a new type of employee benefit, claim to address workers’ financial challenges and improve business results. However, evidence of such advantages remains thin, and little is known about program take-up. This study examines organizational factors accounting for successful EFWP implementation and take-up at three caregiving sector employers. We investigate two EFWPs, financial and credit-building counseling, through in-depth interviews with managers and directed content analysis. Results suggest that in-person EFWP promotion and active support from upper management are key factors in program success. Additionally, EFWP congruence with employers’ business practices and values factors into program utilization.

Strategic drivers to promote employee suggestion schemes in GCC organizations

PurposeThis study applies a decision support tool to prioritize the various drivers that influence employee suggestion schemes (ESSs) in both public and private organizations based in the Gulf Cooperation Council (GCC) countries for better organizational performance.Design/methodology/approachUsing theories of organizational creativity, an analytic hierarchy process (AHP) model was developed with 5 criteria and 24 sub-criteria. Data were collected from executives (n = 48) from both public and private organizations in the GCC. Later, the data were interpreted with a priority vector assigned to each criterion and sub-criterion.FindingsThe results indicate that leaders/management support, individual traits and organization culture are the key drivers that influence employees' involvement in an ESS.Research limitations/implicationsThe study is limited to a small sample size, and data were collected only in three GCC countries. The study provides insights into ESS in the context of developing countries and is a relevant contribution to both theory and practice. The results will be of interest to businesses and academics for improving understanding on the various enablers of successful employee participation programme implementation and subsequent increase in organizational performance in the GCC.Originality/valueThe novelty of this study is that it resolves the lack of empirical research in the Middle East countries/GCC. The transition phase of knowledge-based economies highlights the significance of innovation and creativity through active employee participation to improve business results. The study attempts to prioritise both individual- and organizational-level drivers for promoting ESS by leveraging theories of creativity in alignment with the GCC National Innovation Agenda. This study can be generalized from the GCC context due to homogeneity in organizational governance and cultural aspects.

Business analytics and firm performance: role of structured financial statement data

ABSTRACTAlthough business analytics has received its fair share of attention, extant research has paid insufficient attention to establishing and communicating a general understanding of the relationship between analytics and performance. In order to reduce the identified knowledge gap, this study proposes a comprehensive, theoretical framework to explain the key types of business analytics, their relationships, and how business analytics use impacts operational and financial performance. This study proposes a combination of critical systems, “holistic thinking/big picture/decision-making,” approaches to moderate key relationships to impact performance. Additionally, this study presents a case illustration of a real-world contract manufacturer, employing the proposed framework, to demonstrate the innovative use of integrated business analytics to turnaround an organization, and position it to survive, thrive, innovate, and grow. Findings indicate that firms, “overwhelmed by” and “struggling to use” data to improve business results, have a viable cost-effective framework to advance business analytics capability, in their organizations.

Validation of the Thomson, Perry and Miller (2007) Collaboration Instrument in the South African context

Orientation: Collaboration is deemed important in today’s connected and complex business environment. People’s ability to collaborate with each other in organisations is becoming a business imperative. This study focuses on a valid measurement of collaboration within organisations.Research purpose: Thomson, Perry and Miller (2007) developed a collaboration measurement instrument in the United States. The aim of this study was to validate this instrument for a South African context.Motivation for the study: South African organisations face unique challenges that require optimal use of resources to improve business results. Effective collaboration is considered a powerful strategy to achieve this. Measuring the extent of collaboration can help to identify required changes in business practices. As far as could be established, there is no evidence of collaboration instruments developed and validated in South Africa.Research design, approach and method: Additional items were designed for further development of the Thomson, Perry and Miller (2007) Collaboration Instrument sub-scales, as suggested by the authors. The revised questionnaire consisting of 31 (17 existing, 14 new) items was distributed electronically to 4200 employees in two organisations, with 343 valid responses received. Reliability and construct validity were tested, as was convergent validity of the norms factor with the Trust in Teams Scale.Main findings: The results of the study support a four-factor, 29-item model of collaboration when applied to a South African sample. Cronbach’s alpha ranged between 0.85 and 0.95. Confirmatory Factor Analysis fits were at an acceptable level. Convergent validity showed a moderate fit with the data.Practical/managerial implications: South African managers and human resources practitioners can utilise results to foster a collaborative environment.Contribution/value-add: This study builds on the theoretical concept of collaboration as defined by Thomson, Perry and Miller (2007).

Business Sample Survey Measurement on Statistical Thinking and Methods Adoption: the Case of Croatian Small Enterprises

The objective of this research is to investigate attitudes of management in Croatian small enterprises that use statistical methods towards statistical thinking in order to gain an insight into related issues. The research was conducted in 2013 using a web survey with a random sample of 631 Croatian small enterprises, but this paper focuses only on those enterprises that use statistical methods. In order to get detailed information, a complex stratified sample survey design was used. In the analysis, chi-square tests of independence were used. In the statistical tests of proportion, the nonresponse adjustment factors as weights and weighted proportions were used. It has been shown that the vast majority of Croatian small enterprises (65, 93 %) do not even use statistical methods in their business. On the other hand, the enterprises which use statistical methods have recognized the value and capabilities of statistical methods use. The research has shown that the vast majority of enterprises do not use statistical methods due to administrative reasons. In spite of using statistical methods as a supporting tool in the decision-making process in very important and key business cases, Croatian small enterprises admitted the lack of statistical methods use in their business. Also, investments into the statistical methods use are very scarce. This has led to employees’ low statistical methods use knowledge level. The statistical methods use led to better business results in more than 90 % of small enterprises. It has been shown that statistical methods use effects on business results have on average a 6-12 months lag. This research leads to the conclusion that more efforts should be put into development of statistical thinking in these enterprises and familiarizing them with statistical methods use, with the aim of increasing their use and improving business results.