Innovative Business Practices Research Articles

A Systematic Literature Review on The Strategic Shift to Cloud ERP: Leveraging Microservice Architecture and MSPs for Resilience and Agility

The COVID-19 pandemic has necessitated profound changes in the business and technology landscapes, compelling organizations to reassess their Enterprise Resource Planning (ERP) systems. Traditional ERP systems have demonstrated significant limitations in agility, scalability, and resilience, prompting a strategic shift towards cloud-based ERP solutions. This systematic literature review (SLR) aims to critically evaluate the transformation of ERP systems through the adoption of Microservice Architecture (MSA) and the integration of Managed Service Providers (MSPs), highlighting their role in enhancing system flexibility and operational continuity in a post-pandemic world. We conducted a systematic analysis of 124 scholarly articles published since 2010 to compare traditional ERP systems with MSA-based Cloud ERP solutions. Key insights reveal that MSA significantly improves system modularity and adaptability, addressing the shortcomings of monolithic architectures. Additionally, MSPs offer crucial support in managing the complexities of cloud transitions, ensuring security and efficiency. Our findings underscore the importance of a holistic approach to ERP modernization, integrating technological advancements with strategic business objectives. This study not only fills a critical gap in the literature but also provides actionable recommendations for practitioners and policymakers aiming to enhance ERP systems’ resilience and agility. Future research directions are proposed to further explore the synergistic potential of cloud ERP, MSA, and MSPs in fostering innovative and sustainable business practices.

Business Model Transformation and Information Technology Use on the Quality of Accounting Information Systems in MSMEs in Indonesia

This research investigates the impact of business model transformation (BMT) and information technology utilization (ITU) on the quality of accounting information systems (QAIS) in Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. A quantitative approach is employed, with data collected through a survey of MSMEs across various industries. Structural Equation Modeling (SEM) with Partial Least Squares (PLS) is used for data analysis. The findings reveal significant positive relationships between BMT, ITU, and QAIS. Business model transformation and IT utilization are found to significantly enhance the quality of accounting information systems in Indonesian MSMEs. These results highlight the importance of innovative business practices and effective technology adoption in improving financial management processes within MSMEs, providing valuable insights for practitioners, policymakers, and researchers.

On the Incentive and Sustainability Impact of SDGs on Innovation in Small and Medium-Sized Tourism Enterprises (SMEs)

This paper investigates the influence of Sustainable Development Goals (SDGs) on innovation and sustainability in Small and Medium-sized Tourism Enterprises (SMEs) in Brazil. Through qualitative methods, including interviews and document analysis, the study explores how specific SDGs act as incentives for innovation, shaping employment strategies and responsible production processes within SMEs. The sustainability impact is evident in environmental conservation, community engagement, and responsible consumption. Despite notable achievements, challenges such as resource constraints persist, emphasizing the need for targeted support. The study concludes that aligning with SDGs positions Brazilian SMEs as contributors to global sustainability, promoting responsible and innovative business practices.

Analysis on Electric Vehicle Industrys Business Strategies -- Taking Tesla as an Example

Tesla, a trailblazing firm noted for its innovative business practices, is at the vanguard of the automotive industrys transition brought on by the rise of electric automobiles. The paper analyzes Teslas business strategy in depth and looks at how it has affected the electric vehicle market. The study uses a literature review approach to look into Teslas novel business strategies, market positioning, and eco-friendly projects. This research analyzes academic literature, business reports, and case studies to determine what has contributed to Teslas success and offer practical suggestions for future study. The results highlight the revolutionary effect Teslas strategy has had on the automotive industry and the global advancement of electric vehicles. The paper elucidates the underlying strategic mechanisms that fuel Teslas expansion and market supremacy. Policymakers interested in encouraging sustainable mobility solutions and businesses planning to participate or compete in the electric car market can both learn valuable lessons from the results.

Waste valorization in agribusiness value chains

This abstract presents a research study that explores the potential for the circular economy, particularly in agriculture, to not only reduce waste and emissions but also to generate value from environmental conservation efforts. The study applied an exploratory-descriptive approach, with bibliometric analysis utilized to understand the breadth of waste management practices. The research was comprehensive, sourcing a large body of articles (858 in total) from prominent databases such as Scopus and Web of Science. This large data set was then analyzed using VOSView software. Two primary opportunities for generating value from agricultural waste were identified: recycling non-organic waste (e.g., plastics) and effective biomass and organic waste management. The study underscores the need for innovative technologies and new business practices to capitalize on these opportunities. The authors argue for a significant shift in existing production systems. They suggest the integration of technological solutions that leverage the biochemical aspects of different waste types. This approach could help to extract maximum value from waste within agricultural value chains. The principal contribution of this research to the scientific community is the novel understanding it offers of how to add value to agribusiness value chains. This research could guide future endeavors to make agriculture more sustainable and economically efficient through waste valorization.

The Role of Competitive Strategy and Green Supply Chain Management in MSME Performance

This study investigates the role of competitive strategy and green supply chain management (GSCM) in the performance of Micro, Small and Medium Enterprises (MSMEs) in West Java. Using a sample of 87 MSMEs, data was collected through questionnaires distributed to various MSMEs in the West Java region, using a Likert scale for response evaluation. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM) through the Smart PLS program.The results of this study indicate that both competitive strategy and GSCM have a significant influence on MSME performance. Competitive strategy, which includes product differentiation, cost leadership, and market focus, has improved the operational efficiency, market responsiveness, and competitive advantage of MSMEs. Meanwhile, the implementation of GSCM, which emphasizes environmentally friendly operations and sustainable resource management, not only improves compliance with environmental regulations but also strengthens the reputation and legitimacy of MSMEs in the eyes of stakeholders and consumers. These findings confirm the importance of adopting and integrating innovative and sustainable business practices to improve MSME performance. Consequently, this study suggests the need for more strategic policy interventions and support for MSMEs to develop their capacity in competitive strategy and GSCM, thereby strengthening their position in the market and their contribution to the regional economy and environmental sustainability

IFRS innovation, governance practices and firm performance: A new empirical assessment of moderating effects across GCC region

Research background: Despite the large volume of research which has been conducted, the association between corporate governance mechanisms and firm performance remains a controversial issue, particularly with the growth of accounting settings around the world. Purpose of the article: This study assesses the moderating role of International Financial Reporting Standards (IFRS) on the association between corporate governance mechanisms and firm performance in selected Gulf Cooperation Council (GCC) country-listed firms, namely Saudi Arabia, Qatar, Bahrain, and United Arab Emirates over the period 2016–2019. Methods: Importantly, we examine the direct and indirect influences of royal family members on long-term firm performance. We attempt to answer our research questions using robust estimation methods such as pooled OLS, fixed effect, random effect and first difference models. Findings & value added: The outcome reveals a significant and positive impact of firm size and board size on the firm performance in the pooled sample, while there is a significantly negative influence of financial leverage on firm performance. The impact of RFP on FP is seen to be negative and significant while the interaction term is found to be positive and statistically significant. This notably refers to the possibility that royal family directors could play an essential role in influencing the executive management team to fully react to provide extensive voluntary disclosure and comply with IFRS adoption. Our simultaneous quantile regression analysis displays the influence of corporate governance mechanisms on firm performance in various stages. While we observe that IFRS transformation has improved information comparability, policy makes in GCC countries should continue to foster conducive environment to support innovative business practices that help diversify their economies.

Women’s Stories of Waste Picking in the City: “People Look at Us Like We Are Mad, but I Don’t Care”

The gendered dynamics of informal work in southern cities across the globe has been well documented. Women in the informal sector, usually already marginalised through racialised and class positionalities, face predictable work challenges in patriarchal society, lower pay, longer work hours, more family responsibilities, less social protections, and safety concerns linked to workspaces. In this article, we explore the specific challenges that women waste pickers in the inner city of Durban, South Africa, experience. The study draws on ethnographic research with eight waste pickers. Beyond the challenges, the narrative data illustrates how and why women waste pickers navigate and negotiate for space and safety in the inner city of Durban. We highlight how women build social relationships as a mitigation strategy against material and varied safety concerns. These social relationships work across formal business linkages and relationships on the street. These mitigation strategies are simultaneously gendered responses to work in the city and innovative business practices. The experiences of women waste pickers in the city indicates that it is left to the women themselves, individually and in small collectives, to find ways to navigate issues of discrimination and exclusions linked to work, gender and space in the city. Ultimately, we draw on the experiences of women waste pickers in inner city Durban to ask questions about what lessons can be learnt to advocate better municipal planning that proactively deals with gender and justice in the city.

The Influence of Digital Education Factors and Online Business Innovation on the Economic Independence of People in Yogyakarta Region

This research investigates the influence of digital education factors and online business innovation on community economic independence in the Special Region of Yogyakarta. A quantitative analysis was conducted using a sample of 193 participants, exploring the relationships between digital education, online business innovation, and economic independence. Confirmatory Factor Analysis (CFA) and Structural Equation Modeling with Partial Least Squares (SEM-PLS) were employed to analyze the data. The results revealed significant and positive relationships between digital education factors and both online business innovation and economic independence. Online business innovation was also found to positively influence economic independence. The study provides valuable insights for policymakers, educators, and community stakeholders, emphasizing the importance of investing in digital education initiatives and fostering innovative online business practices to enhance community economic independence.

Transformation and Upgrading Development Strategies of Small and Medium-sized Banks Under the Influence of Internet Finance

This paper comprehensively analyzes and compares the specific influencing factors of China's Internet finance policies on the current operation of small and medium-sized commercial banks, as well as the possible causes of the impact of China's Internet finance new policy on the transformation of small and medium-sized commercial banks, specifically analyzes the innovative transformation business practices of China Everbright Bank under the influence of the Internet finance new policy, and proposes to formulate relevant business transformation service countermeasures for small and medium-sized commercial banks. This paper first studies and analyzes the impact of Internet financial technology on the current digital business transformation and development direction of small and medium-sized commercial banks from the market perspective, the bank perspective and the regulatory perspective, and then analyzes the current external policy environment of Internet finance industry and the internal management environment of small and medium-sized state-owned commercial banks in China. Through different perspectives, it analyzes the advantages and disadvantages of traditional commercial banks, so as to propose relevant digital transformation countermeasures for small and medium-sized banks.

Taking Profits, Making Myths: The Slave Trading Career of Nathan Bedford Forrest

Taking Profits, Making MythsThe Slave Trading Career of Nathan Bedford Forrest Timothy S. Huebner (bio) The men engaged in the slave-trade between the states pass without condemnation, and their business is deemed honorable. —Frederick Douglass, 1852 Although best known as a Confederate general and early leader of the Ku Klux Klan, Nathan Bedford Forrest first made a name for himself during the 1850s, buying and selling enslaved African Americans in Memphis, Tennessee.1 Conforming to one scholar’s definition of “the most important type of [End Page 42] slave trader,” Forrest “bought slaves in the exporting states, transported them to the importing states, and sold them for a profit.” Existing studies of the trade focus mostly on earlier decades or rely heavily on sources from the much larger New Orleans market. An examination of a single prominent trader in late antebellum Memphis, a smaller urban center, yields further insights into the men who actually engaged in slave trading, as well as the pervasive hold that slavery’s capitalism had on the American South. Building on the innovative business practices established by an earlier generation of Southern traders, Forrest proved ruthlessly adept in running a profitable slave-dealing operation in the heart of the Lower Mississippi Valley.2 [End Page 43] The myths associated with Forrest’s biography obscure this part of his life, for during the postwar years the former Confederate general personally crafted a narrative to justify his antebellum business enterprises. In the immediate aftermath of accusations that Forrest had massacred Black Union soldiers at the April 1864 Battle of Fort Pillow, Forrest’s prewar slave trading emerged as an issue of particular interest in the North. A May 1864 article in the Chicago Daily Tribune described Forrest’s Memphis slave pen as “a perfect horror to all negroes far and near.” According to the Tribune, Forrest and his brother John disciplined “refractory slaves” with “long heavy bull whips,” which “cut up their victims until the blood trickled to the ground.” Forrest whipped one enslaved man to death, according to the article, after which “the slave was secretly buried, and the circumstance was only known to the slaves of the prison, who only dared to refer to the circumstance in whispers.”3 In 1868, after the war had ended, Forrest sought to rehabilitate his reputation by collaborating with Gen. Thomas Jordan, a Confederate veteran, and J. P. Pryor, a journalist, in producing an authorized biography. In the book’s introductory biographical sketch, Jordan and Pryor noted that Forrest moved to Memphis to establish himself “as a broker in real estate and a dealer in slaves,” and observed that Forrest “accumulated a considerable fortune.” Not content with this factual description, the authors—surely at Forrest’s urging—included a lengthy footnote arguing that Forrest “carried on his business with admitted probity and humanity.” The authors claimed that as a slave dealer Forrest “never sold separately the members of a family, and made it a rule, as far as practicable, after acquiring heads of a family, to purchase the others, howsoever widely scattered, and this, indeed, proved profitable in the end.”4 These words set the tone for later generations of [End Page 44] Forrest admirers, who offered similar justifications for his extensive trafficking in human beings. In 1898, one enthusiast went so far as to claim that Forrest gained such a reputation for kindness among the prewar enslaved community that he “was overwhelmed with applications from a great many [slaves], who begged him to purchase them.”5 Such arguments about Forrest’s benevolent motivations and actions—despite betraying a fundamental misunderstanding [End Page 45] of how the trade actually worked—endure even today in popular biographies and on neo-Confederate websites.6 Click for larger view View full resolution After the war, Forrest sought to rehabilitate his reputation by collaborating with General Thomas Jordan and J. P. Pryor in producing an authorized biography. This was the first source to portray Forrest as a benevolent trader. Myths have persisted as well due to the relative dearth of source material from this period in Forrest’s life. No records from his slave-trading business survive, so one must piece together...

Knowledge sharing and innovation in open networks of tourism businesses

PurposeThe purpose of this paper is to examine the information flows, in terms of content and process, underpinning the sharing of knowledge by managers and owners. Such an examination reveals similarities and differences that will influence the generation and dissemination of knowledge used in tourism business operations and contribute to innovation.Design/methodology/approachThis paper examines information flows within the theoretical and methodological framework of social network analysis. The findings were derived from a quantitative study of tourism managers and owners of a tourism hub in South-West England.FindingsThe main finding was that network structure characteristics determine the flow of information within owners’ and managers’ social networks. The owners of smaller businesses received information from several sources and, therefore, had fewer structural constraints and reported larger structural holes. In comparison, the managers had more brokerage opportunities to disseminate the information within their social networks.Research limitations/implicationsThis paper highlights knowledge sharing between tourism business managers and owners in an open network structure. First, an open network structure builds innovation through the provision of nonredundant information. This is determined through the effective size of structural holes and the dissemination of information through brokerage roles. Second, the knowledge capability of a destination is built up through the social networking of managers and owners. The generation and dissemination of knowledge in a tourism destination are facilitated by the social networking activities of managers and owners.Practical implicationsManagers and owners of tourism businesses require knowledge through information to assist with innovative business practices. The practical implication of this is that the social networks of managers and owners have different network characteristics, and that these differences result in consequences for the innovation of business practices. Another practical implication relates to the importance of managers in knowledge dissemination based on having several brokerage roles in the tourism destination.Originality/valueThese findings are important because an understanding of social networks and the flow of information is one of the keys to determining the influences on knowledge sharing within tourism destination knowledge networks of owners or managers and their potential contributions to innovation.

Experience of evergreen financing in the field of financial technologies

Within the framework of the presented article, the author examines the features of green finance in the field of financial technologies in different countries. The focus is on countries such as the United States and China, which are actively using evergreen financing technology. Attention is focused on the implementation of financing in modern conditions using blockchain on smart devices for mobile banking, investment and loans. Currently, according to the author, financial technologies refer to innovative applications, procedures, goods or business practices in the financial services sector that consist of one or more complementary financial services and are provided as an end-to-end process via the World Wide Web. The article lists the most famous and largest evergreen funds in different countries. Compared to Chinese investors, the participation of American investors in evergreen funds is not unusual. With the rapid development of technology, American "evergreen" investors are trying to find opportunities to invest in startups, new technology companies. This article presents a comparison and analysis of the development of evergreen funding in the USA and China, which will allow applying the experience of these countries in the field of evergreen venture financing in the Russian Federation. Evergreen financing is a concept used to describe the gradual infusion of funds into a company. With evergreen financing, investors provide funds in gradual payments throughout the entire stage of development of the company or product. This is the architecture of a perpetual fund with no set end date. It often gives investors the opportunity to get out of their obligations and allows the fund manager to purchase additional funds. Investors are allowed to reinvest the funds received from realized profits. Thanks to a detailed explanation of the investment direction of the evergreen fund of the two most powerful economic powers, the public will learn more about this technology, its advantages and disadvantages.

Study the Innovative Business Practices that Hotels have undertaken in Response to the COVID-19 Pandemic: A Case study of Sharm El-Sheikh Hotels

Study the Innovative Business Practices that Hotels have undertaken in Response to the COVID-19 Pandemic: A Case study of Sharm El-Sheikh Hotels

Social trust and corporate innovation: An informal institution perspective

We examine the effect of social trust on corporate innovation. We find a positive relation between social trust and corporate innovation. This association survives a series of robustness checks concerning alternative measures, omitted variable issues, instrumental variable regressions, difference-in-differences tests, placebo tests, etc. We also identify that social trust promotes corporate innovation through the following three economic channels: motivating managers in the long term, mitigating financial constraints, and promoting cooperative culture. Moreover, we show the positive effect of social trust on a more comprehensive text-based measure of innovation (Bellstam et al., 2021) and that innovative business practices strengthen the association between social trust and innovation.

Understanding the Role of Users' Psychological Needs on Relationship Quality in Short Video Applications.

Along with the rapid development of big data, artificial intelligence, and information technology, the relationship quality (RQ) between short video applications and users is important for the sustainable development of short video applications. However, the existing studies have explored the mechanism of the role of RQ in a limited way. In order to respond to this critical issue, this study constructs a theoretical model based on attachment theory and combined with self-determination theory, with autonomy needs (AN), competence needs (CN), and relationship needs (RN) as influencing factors, emotional attachment (EA) as mediating variables and relationship quality as outcome variables, and the moderating role of attachment anxiety (AA) in which this study also analyzes the mechanism of short video applications users’ psychological needs on relationship quality by combining the moderating role of AA. In this study, a sample of 512 university students using short video applications was used. The results of the data analysis indicated that EA was significantly influenced by psychological needs that played a positive role in relationship quality and mediated the relationship between psychological needs and relationship quality. The results of further analysis also revealed that attachment anxiety plays a moderating role in the relationship between emotional attachment and relationship quality. This study examines the intrinsic mechanism by which psychological needs affect relationship quality through emotional attachment, reveals the practical effects of short video applications users’ sustained use behavior, and provides a reference for innovative management and business practices of short video applications.

Accidental opportunities? Women in family businesses taking the lead in a new market economy

Social workers have been working to empower women of diverse backgrounds across several practice settings. However, for women entrepreneurs in Ghana generally and those in family businesses specifically, some socio-cultural factors have persisted to hinder their abilities to promote and sustain their businesses. This paper describes the ways in which women in family businesses in Accra, Ghana have identified and leveraged opportunities presented by structural, cultural, socio-economic, and technological changes to ensure the success of their businesses. The study employed a qualitative research approach with purposive and snowball sampling used to identify and interview 15 women in family businesses. Findings indicate that women in family businesses in Accra, Ghana have creatively made use of the changing socio-cultural and economic landscape of the country to promote their businesses through three main trends which are significant in business growth: the advent and increasing use of social media, innovative business practices, and weakening patriarchy. We recommend that social workers apprise themselves of contexts which have unequal consequences for women and mobilize around these changes to help women entrepreneurs to take full advantage of the opportunities that are being offered in Ghana’s emerging economy.

Financing social enterprise in the UK: responding to new challenges in competitive markets

Social entrepreneurship activities continue to make a significant contribution to the development of the United Kingdom's (UK) economy and remain at the core of the government's strategies for ameliorating socio-economic deprivation across the country. Despite the growth of this type of business activity, a key area that requires further analysis is how social enterprises respond to the funding challenges posed by globalisation, declining state support and increased demands for social welfare interventions. These challenges also come at a time when the UK Government is encouraging communities to explore innovative ways of tackling socio-economic deprivation, through innovative and sustainable business practices. Drawing on a qualitative case study approach of social enterprises in South Yorkshire UK, this research contributes to extant literature by scrutinising the operations of social entrepreneurs in resource-constrained environments. By employing components of Kirzner's (1973) theory of entrepreneurship, the findings of this investigation highlight how opportunity spotting and innovation in financing strategies have enabled social entrepreneurs in South Yorkshire to widen their organisations' sources of financial resourcing. This study is of particular benefit to policy makers and researchers in social enterprise.

Building an Operational Solution Assistant System for Foreign SMEs in ROK

Foreign Direct Investment (FDI) is an important resource that helps accelerate the development of the country’s economy, add substantial funding to growth and facilitate technology transfer. Republic of Korea (ROK) is one of the world’s developed countries with dynamic economy, advanced science and technology. In recent years, the Korean government has continuously formulated tax policies, policies to support the business economy and import policies to support foreign businesses in Korea. The Pangyo Valley Creative Economy Valley is being groomed as a global startup hub in Asia. Small and medium enterprises (SMEs) in foreign countries are increasingly interested and eager to seek investment opportunities in the Korean market. Nonetheless, for these companies, language barriers and cultural and institutional differences make it more difficult and time-consuming to learn about the Korean market (such as investment trends, laws, visa policies, taxes and business establishment issues in Korea, etc.). In this study, we explored the process of searching information and seeking investment opportunities and built a business consulting and support application in the first stages of starting a business in ROK to increase effectiveness and save time, which is also an innovative business practice in Use-case ROK. We designed our Virtual Assistant system that can crawl and analyze data on foreign investments in ROK from open data resource websites (data.co.kr) and used analytic and aggregation techniques to explore trends in investments of foreign enterprises. We also researched the process of searching information and seeking investment opportunities for SMEs when investing in ROK, government support policies, laws and taxes as well as a number of other related issues. We built datasets and used Natural Language Processing (NLP) together with Natural Language Understanding (NLU) algorithms to build chatbot applications. Friendly framework for new developers to add and build up the dataset of AI Assistant is built by providing input intent data function, input Entity data function, input utterance data function as well as training and test function. In addition, we built a web-app connected to the server to visualize all the results of research so that SMEs owners can easily use and look for information on investments. Based on the research results, we can make recommendations to SMEs in keeping with the changing investment trends in ROK.

A Text-Based Analysis of Corporate Innovation

We develop a new measure of innovation using the text of analyst reports of S&P 500 firms. Our text-based measure gives a useful description of innovation by firms with and without patenting and R&D (research and development). For nonpatenting firms, the measure identifies innovative firms that adopt novel technologies and innovative business practices (e.g., Walmart’s cross-geography logistics). For patenting firms, the text-based measure strongly correlates with valuable patents, which likely capture true innovation. The text-based measure robustly forecasts greater firm performance and growth opportunities for up to four years, and these value implications hold just as strongly for innovative nonpatenting firms. This paper was accepted by Gustavo Manso, finance.