Innovative Business Strategies Research Articles

TRANSFORMING BUSINESS LANDSCAPES: STRATEGIES FOR SUSTAINABLE AND INNOVATIVE GROWTH IN THAILAND

This article explores the innovative business models and strategies that Thai companies are embracing to enhance their competitiveness, foster sustainability, and adapt to the evolving market conditions. By drawing on the work of prominent scholars, the article provides a comprehensive understanding of the transformative processes shaping the future of Thai businesses. Key findings include the adoption of platform-based models, circular economy models, servitization models, collaborative and sharing-based models, and localized and resilient supply chain models. The article also highlights the synergistic framework that integrates digital transformation, sustainability, entrepreneurship, and supply chain resilience, driving sustainable and innovative growth for Thai businesses.

Business Development Strategy Analysis Using the Business Model Canvas Approach at Genong Farm Madiun

This research aims to analyze and recommend business development strategies for Genong Farm Madiun using the Business Model Canvas approach. The method used is descriptive qualitative, with data collection through observation, interviews, documentation, and triangulation. Data is analyzed using the Miles and Huberman model, which includes data collection, data reduction, data presentation, and verification. The research results identify that the business model of Genong Farm Madiun encompasses nine elements of the Business Model Canvas: Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure. Based on this analysis, strategic recommendations are provided for each element to enhance business operational effectiveness and efficiency. This research provides valuable insights into how Genong Farm Madiun can optimize its business model to achieve sustainable growth and increase market competitiveness. The recommendations given are expected to assist Genong Farm Madiun in designing better and more innovative business strategies.

Green Innovation And Organizational Culture Toward Corporate Value: Moderation Role Of Competitive Advantage

The study aims to analyze the impact of green innovation and organizational culture on corporate value and competitive business strategy as moderating variables. This type of research is quantitative, with secondary data sources. During the 2016–2020 period, the population of this study consisted of 74 energy sector companies. Purposive sampling, the chosen sampling technique, yielded a total sample of 53 energy sector companies. The technique for collecting data involves accessing financial report documentation from the Indonesian Stock Exchange website. The SPSS program facilitates the data analysis technique, which employs descriptive analysis and regression with moderation effects. The research results show that green product innovation, hierarchical culture, clan culture, and competitive business strategy do not affect corporate value. The competitive business strategy strengthens the influence of product innovation and organizational culture on corporate value in the energy sector. Theoretically, this research can complement the factors influencing corporate value through the moderating role of competitive business strategy. This research can be a practical reference and illustration for companies considering competitive business strategy factors.

E-Business and Digital Marketing: Integrating Management Information Systems for Competitive Advantage

This article discusses the integration of e-business and digital marketing with Management Information Systems (MIS) to gain competitive advantage. Using qualitative methods, literature studies and library research, this article analyzes various literature and case studies regarding the application of SIM in e-business and digital marketing strategies. This research found that integration between e-business, digital marketing, and MIS can increase operational efficiency, strengthen relationships with customers, and optimize data-based decision making. Additionally, this article identifies several challenges companies face in implementing this integration, such as technological complexity, the need for employee training, and adaptation to rapid market changes. The results of this research highlight the importance of utilizing digital technology and SIM in building responsive and innovative business strategies. These findings also show that companies that successfully integrate e-business and digital marketing with MIS tend to have a higher competitive advantage compared to those that do not. This article provides valuable insights for practitioners and historians on how to integrate MIS into e-business and digital marketing to achieve corporate strategic goals. Finally, this research contributes to the growing literature on the importance of information technology in supporting modern business strategy.

ҚАЛАЛЫҚ АГЛОМЕРАЦИЯЛАРДА ИННОВАЦИЯЛЫҚ БИЗНЕС СТРАТЕГИЯЛАРЫН ҚАЛЫПТАСТЫРУ

Мақалада қалалық агломерациялардың қазіргі заманғы даму тенденциялары мен трендтері атап өтілді, олардың қалыптасуының аймақтық және құрылымдық ерекшеліктері және әлемдік деңгейдегі кейінгі трансформация атап өтілді. Елдердің ұлттық-мәдени үлгілерімен айқындалатын ірі қалаларды дамытудың өзекті стратегиялық тұжырымдамалары өтілді. Басты назар қазақстандық агломерацияларды дамытудың негізгі тенденциялары мен проблемаларына бағытталған: агломерацияның «өзегі» төңірегінде экономикалық өсудің өңірлік орталығын құру; агломерациядағы халықтың шоғырлануы; қалалық жолаушылар көлігінің бірыңғай интермодальдық жүйесі негізінде қалалық агломерациялар аумақтарының байланыстылығын қамтамасыз ету; өңірдің атқарушы билік органдары жүзеге асыратын қалалық агломерацияны басқару; қалалық агломерацияны дамытудың бірыңғай инвестициялық ортасы; қалалық агломерацияны кеңістіктік-аумақтық дамытудың циклділігі; перифериялық өндірістік аймақтарды дамыту; Қалалық агломерация шеңберінде қолайлы экологиялық жағдайды қамтамасыз ету. Белгіленген трендтер шеңберінде қолданыстағы тәжірибеге сыни талдау жүргізілді. Қалалық дамуды басқаруға қатысты негізгі тұжырымдар ұсынылған. Мақаланың мақсаты. Зерттеудің мақсаты теориялық-тұжырымдамалық деңгейде экономикалық-инновациялық динамика мен агломерациялық кеңістіктік даму арасындағы көптеген сызықтық емес қатынастар мен өзара әрекеттесу принциптерін анықтау, ал эмпирикалық деңгейде инновациялық дамудың табиғи өзін — өзі ұйымдастыратын тетіктерін бұза отырып, агломерацияның белсенді дамуына кедергі келтіретін негізгі себептерді талдау болып табылады. The article highlights current trends and trends in the development of urban agglomerations, regional and structural features of their formation and subsequent transformation at the global level. The current strategic concepts of the development of large cities, determined by the national and cultural patterns of the countries, were announced. The main attention is paid to the main trends and problems of development of Kazakhstan agglomerations: creation of a regional center of economic growth around the «core» of the agglomeration; concentration of the population in the agglomeration; ensuring the connectivity of the territories of urban agglomerations on the basis of a single intermodal system of urban passenger transport; management of the urban agglomeration carried out by the executive authorities of the region; unified investment environment for urban agglomeration development; the cyclical nature of the spatial and territorial development of the urban agglomeration; development of peripheral industrial zones; provision of favorable environmental conditions within the urban agglomeration. Within the framework of the planned trends, a critical analysis of the existing practice was carried out. The main conclusions concerning the management of urban development are presented. The purpose of the article. The aim of the study is to identify at the theoretical and conceptual level the principles of multiple nonlinear relationships and interactions between economic and innovation dynamics and agglomeration spatial development, and at the empirical level to analyze the main reasons preventing the active development of agglomeration, with violation of natural self-organizing mechanisms of innovative development.

Study on Lean Six Sigma methodology from the Indian context: an investigation of literature

PurposeIndia liberalized its economy in 1991, which resulted in intense global competition, quality-conscious and demanding customers. Additionally, significant technological advancements lead to enhancements in products and processes. These forced Indian organizations to adopt innovative business strategies in the past 30 years. Meanwhile, the Lean Six Sigma methodology has significantly grown with vast applicability during the past 30 years. Thus, the purpose of this study is to develop the learning on Lean Six Sigma methodology in the Indian context through investigation of literature.Design/methodology/approachA three-stage systematic literature review approach was adopted to investigate the literature during the present study. In total, 187 articles published in 62 journals/conference proceedings from 2005 to 2022 (18 years) were shortlisted. The first part of the article summarizes the significant milestones towards the quality journey in the Indian context, along with the evolution of the Lean Six Sigma methodology. The second part examines the shortlisted papers on Lean Six Sigma frameworks, their applicability in industrial sectors, performance metrics, outcomes realized, publication trends, authorship patterns and leading researchers from the Indian perspective.FindingsLean Six Sigma has emerged as a highly acclaimed and structured business improvement strategy worldwide. The Indian economy has seen remarkable growth in the past decade and is one of the fastest-growing economies in the 21st century. Lean Six Sigma implementation in India has significantly increased from 2014 onward. The study revealed that researchers have proposed several different frameworks for Lean Six Sigma implementation, the majority of which are conceptual. Furthermore, the balanced applicability of Lean Six Sigma in manufacturing and service sectors was observed with the highest implementation in the health-care sector. Additionally, the widely adopted tools, techniques along with performance metrics exploring case studies were reported along with a summary of eminent and leading researchers in the Indian context.Research limitations/implicationsThis study is confined to reviewed papers as per the research criteria with a significant focus on the Indian context and might have missed some papers due to the adopted papers selection strategy.Originality/valueThe present study is one of the initial attempts to investigate the literature published on Lean Six Sigma in the Indian context, including perspective on the Indian quality movement. Therefore, the present study will provide an understanding of Lean Six Sigma methodology in the Indian context to graduating students in engineering and management and entry-level executives. The analysis and findings on Lean Six Sigma frameworks, research approach, publications details, etc., will be helpful to potential research scholars and academia. Additionally, analysis of case studies on Lean Six Sigma implementation by Indian industries will assist the managers and professionals in decision making.

"Ajak Teman'' as a Referral Strategy to Persuade Friends to Use Digital Banking

The emergence of digital banks in Indonesia triggered intense competition among digital banks. This competition encouraged digital banks to create marketing strategies that are tailored to customer behavior and preferences. The invite-a-friend strategy, known as referral marketing, involves the participation of customer connections to recommend products and services to new customers through word of mouth. The potential target customers of digital banks are Generation Z. Therefore, digital banks need to develop innovative business strategies to encourage Generation Z usage decisions by utilizing the referral concept in their promotions. This study examined the effect of the invite-a-friend strategy that occurs due to the dimensions of eWOM - the dimensions of concern for others, economic incentives, helping the company, and expressing positive emotions implemented in the referral program contained in XYZ digital banking on usage decisions. The sample included 148 respondents XYZ digital bank customers who use the referral program. The data analysis technique used in this study was PLS-SEM using SmartPLS version 3 as an analysis tool. The results of this study showed that three dimensions have a positive and significant influence on the usage decisions of Generation Z customers, concern for others, economic incentives, helping the company and expressing positive emotions. Helping the company is the most dominant factor influencing Generation Z customer decisions. Keywords: digital bank, e-referral, strategy to invite friends, usage decision

Social Recommendation Framework: A Case Study of Chinese Long-Stayers in Chiang Mai

Chiang Mai (CNX), a popular city in northern Thailand, has attracted an increasing number of Chinese visitors to stay for a long term for diverse purposes, which facilitates local economic and cultural development. As social networks (SNs) are widely used to disseminate information and accelerate problem-solving, social recommendations (SRs) can be generated correspondingly to address the diverse and dynamic long-term residential demands of Chinese users in a multicultural context. This research aims to develop an SN-based recommendation framework for Chinese long-stayers in CNX to address the social recommendation problems for target long-stay users in a cross-cultural context. This paper employed a mixed-method research design based on the knowledge management processes to acquire, store, share and apply knowledge needed for SN analysis. The results showed that the proposed framework effectively provides filtering and efficient SRs that enable Chinese users to make decisions and formulate strategies during their long-term residence in CNX. The preliminary work also illustrates the positive impact of individual demographic and SN characteristics on the performance of SRs that researchers and practitioners need to develop innovative business and management strategies regarding Chinese long-stayers in a cross-cultural context. Further studies are required to identify additional factors to enhance the effectiveness and utility of SRs for Chinese long-term residents in a cross-cultural environment.

THE IMPACT OF THE GIG ECONOMY ON TRADITIONAL EMPLOYMENT AND THE NECESSITY FOR REVISED BUSINESS, HR, AND LEGAL STRATEGIES

The entrance of the gig economy into the employment field requires many innovative business strategies from both players as well as from the government. This study appraises the management of the freelance workforce from the theory of resource-based view (RBV) and transaction cost economics (TCE), which are helpful theoretical tools. RBV considers freelancer calls, and TCE does benefit and cost analysis when hiring freelancers or home staff. Given the qualitative nature of the research, a combination of interviews and focus groups with the stakeholders operating in the gig economy platform, as well as an analysis of documents of a strategic and legal nature, will be taken to investigate the inner articulations of gig employment. The preliminary results show that having organizational flexibility, personalizing personnel management, and the strategic inclusion of gig workers are the main factors that can ensure business success in a rapidly changing market environment. Nevertheless, without the gender pay gap and legal safeguarding, it becomes evident that there is a further need to work on these. The focus of the study is to bring up topics to be implemented in gig employment, such as the creation of HR policies and legal standards which would promote the sustainability of gig work and, at the same time, protect worker rights, which can contribute to a balanced and fair gig economy

Women Entrepreneurs: A Case Study on Nykaa in India

This paper examines the path taken by women entrepreneurs by examining Nykaa, a significant participant in the Indian beauty and wellness sector. Nykaa, which was founded by former investment banker Falguni Nayar, has become a leader in empowering women in the workplace and beyond. The article opens by discussing the importance of female entrepreneurs in the modern economy. It then analyzes Nayar’s first foray into entrepreneurship, stressing the tactics and obstacles she faced. Thereafter, the emphasis turns to Nykaa’s innovative business strategy and efforts to support women entrepreneurs. A SWOT analysis clarifies Nykaa’s competitive position and potential for future growth by highlighting its strengths, weaknesses, opportunities, and threats. The paper concludes by highlighting Nykaa’s revolutionary influence on women entrepreneurs, serving as a source of motivation for prospective business owners and a driver of gender-inclusive business ecosystems.

Supply Chain Management and Innovation Practices as Core Strategies for Business Competitiveness and Performance

Abstract The purpose of the study was to analyze the effects of supply chain management and business innovation on business competitiveness and performance. Preliminary notes expose a deep historical review of the theoretical and empirical research addressing the relationships between the variables that are being subject of study. The empirical study was conducted in 230 manufacturing SMEs located in Mexico and data analysis was performed using Structural Equation Modeling (SEM). For the assessment of the reliability and validity a Confirmatory Factor Analysis (CFA) was applied, using the maximum likelihood estimation (MLE) with the support of the EQS 6. Main findings conclude that implementing supply chain management and business innovation strategies are vital for business competitiveness and performance. At the final part of this paper, conclusions address the main implications of current research findings for enterprises and government. JEL classification numbers: M11, O32. Keywords: Business Performance, Competitiveness, Innovation, Supply Chain Management, Mexico.

An Analysis of Sustainable Fashion Business Models, Frameworks and Ethics

In a realm of constant changes to the environment in addition to societal perceptions towards issues surrounding fast fashion, researchers have been analyzing the impacts of this market shift and transition on businesses and their marketing models. This publication will review the multifaceted dynamics and components to the fashion industry, by paying close attention to innovative business strategies, its impact on the supply chain, in conjunction with sustainable ethics and policies that have governed policy makers' role in the pursuit of environmental protection and awareness. This publication will also analyze the varying ethical issues surrounding these propositions, and promising areas of future will also be delved into.

Pengembangan Strategi Bisnis Tas Handmade Pada CV Cagho Prima Nusantara

The purpose of this study is to examine and analyze the development of the business strategy of CV Prima Nusantara, a company that focuses on the production of handmade bag. Handmade bag industry has emerged as a key player in the fashion industry, attracting consumers seeking unique and affordable goods. Using the SWOT analysis method, this study examines the internal factors (Strengths and Weaknesses) and external factors (Opportunities and Threats) that affect the CV of the Primary Care Physician of Nusantara. When production costs and capacity are reduced to an extreme, design creativity, day-to-day design, and product quality become the most important factors. It is anticipated that CV Cagho Prima Nusantara will be able to develop innovative and flexible business strategies to maximize market share and train personnel. A SWOT analysis will be conducted to assist CV Cagho Prima Nusantara in maximizing internal resources, overcoming obstacles, and maximizing opportunities.

Navigating the Digital Consumer Mind: Understanding the Psychological Aspects of E-commerce Success

In the digital era, E-commerce has emerged as a prominent stage where psychology and business seamlessly integrate. This article extensively delves into the crucial role of psychology in achieving E-commerce success, with a focus on a profound understanding of the minds of digital consumers. The research aims to detail the roles of psychological aspects such as perception, motivation, and purchase decisions that influence online consumer behavior. The research method involves meticulous study design, a representative sample of digital consumers, and data collection through targeted research instruments. Data analysis is conducted to gain profound insights into the psychological factors that play a key role in E-commerce success. The research findings reveal how the design of platform interfaces, consumer motivation, and other psychological factors impact online purchase decisions. In-depth analysis is conducted on the mechanisms of product selection, the evaluation process, and the psychological impact on purchase conversions. The article also discusses psychological factors contributing to customer loyalty, including user experience and satisfaction. By understanding these psychological aspects, business practitioners can make more informed decisions and design more effective marketing strategies in the context of E-commerce. The research conclusion provides a summary of key findings, practical implications for the business world, and recommendations for further research in this field. This article offers profound insights into the marriage of psychology and business in the context of E-commerce, paving the way for further research and the development of innovative business strategies

Characterizing the Resilience of Micro, Small, and Medium Enterprises (MSMEs) and Its Causal Determinants Amid the Health Crisis

Business resilience is the ability to quickly recover from difficulties and continue operating by applying innovative strategies. The article aims to document the resilience level of micro, small, and medium enterprises (MSMEs) in the Pacific towns of Southern Leyte, Philippines, and capture its causal determinants amid the health crisis using descriptive correlational research design. Using a research-made questionnaire, cross-sectional and primary data were collected from a random sample of MSMEs and were summarized using statistical measures. The significant determinants of the resilience of MSMEs were determined using the Chi-square test for independence via cross-tabulation of categorical data. Results depicted that, on average, MSMEs during the pandemic are "resilient", particularly in their situational awareness, keystone vulnerabilities, and adaptive capacity as they combat the disruption of the health crisis. The Chi-square test reveals that age, civil status, business job position of the MSMEs' personnel, and the estimated monthly income of the enterprise are the highly significant factors that affect the resilience of MSMEs during the health crisis. In particular, younger age, single status, and owner of the enterprise are more active and creative in digital business technology, which increases their resilience in response to challenges brought about by the pandemic. Moreover, enterprises with lower incomes do adopt innovative business strategies that improve economic resilience and profit. Furthermore, the study suggests that enterprises must consider strategic plans and goals to enhance their capability in risk management as they will face future crises.

Collaboration and Supply Chain Integration Strategies in The Textile Industry to Anticipate the Increase in Demand Post Covid-19

This research aims to find out what business innovation strategies are being implemented by several textile entrepreneurs to achieve momentum for improving this industry while business risks can be minimized. This phenomenological research was carried out using interviews, observations and document studies at several textile companies in Central Java. The novelty in this research answers the phenomenon that occurred in the textile industry after the COVID-18 pandemic outbreak. The research results show that two strategies are most dominantly used: First, the collaboration strategy, companies collaborate with other companies to share risks and profits. Second, a supply chain integration strategy by controlling companies located upstream and downstream in the textile industry to secure production and control the market

Innovation under environmental constraints: Does corporate environmental responsibility matter in green innovation?

<p style="text-align: justify;"><span style="font-size: 14pt; font-family: 'times new roman', times, serif;">When human civilization is thriving to the rapid economic and social development, the deteriorating ecological environment has also pressured the society to put environmental protection issues on the agenda future development. Therefore, green innovation is not merely a requirement for a corporate’s long-term development but the basics of sustainable development of human society. As an objective indicator to measure a company's commitment to social responsibility, corporate environmental responsibility has an extremely important impact on a corporate's business philosophy and innovation strategy. However, the existing literature rarely studies between these two variables. This paper collects the data of listed companies from 2010 to 2019 and empirically tests the impact of corporate environmental responsibility on corporate green innovation. The study finds that corporate environmental responsibility can promote green innovation by reducing financing constraints, improving corporate governance and increasing government subsidies and R&D investment, and the result is still significant under a series of robustness checks. The placebo test suggests that the Jiangsu enterprise responsibility construction pilot has facilitated the development of enterprises' green innovation to a great extent. The conclusions enrich existing literature on corporate environmental responsibility and corporate green innovation, providing implications for government policy orientation, social atmosphere guidance and corporate strategic decision-making process.</span></p>

Reinforcing green business strategies with Industry 4.0 and governance towards sustainability: Natural‐resource‐based view and dynamic capability

AbstractThe study explores the influence of contextual factors surrounding production planning and green strategic investment decision‐making practices (GSIDMP) in UK companies. We utilize a mixed‐method approach as a research methodology to study the current trend of production planning and GSIDMP. This study's conceptual model is rooted conspicuously in the resource‐based theory (RBT), natural‐resource‐based view, and dynamic capabilities. We empirically examine the nexus among GSIDMP, technological innovation, dynamic capability, and companies' performance. Our study was based on a sample selected from UK‐listed companies, FTSE ALL‐Share Index for the period (2012–2021). Also, the study utilizes data from the UK Innovation Survey (2018–2020) and corporate disclosure through companies' annual reports as a complementary approach for data collection. Findings of this study explore the interdependencies among company dynamic capability, advanced technological innovation and governance mechanisms, and their mediation influence on the nexus between GSIDMP and companies' performance. This study sheds lights on current business innovation strategies. Findings reveal how current practices of production planning and GSIDM in large UK companies shaped by boardrooms absorptive and adaptive capabilities, knowledge‐generating and knowledge‐collaboration capabilities, technological adoption, and corporate governance mechanisms. This study offers insight regarding boardrooms proactive engagement in exploration and exploitation activities to strengthen ambidexterity through various innovation trajectories associated with green production and GSIDMP towards sustainability. We provide managerial implications for decision‐makers, regulators, investors, scholars, and other stakeholders.

Innovative business strategies, corporate performance, and firm value in the travel and leisure industry

This study examines the influence of innovative business strategies on corporate profitability and valuation in the travel and leisure industry. Following the theoretical framework developed by Miles and Snow (1978) to measure business strategy and using a sample of 791 firm-year observations for 138 publicly listed international companies from 2014 to 2021, we find that more innovative business strategies are associated with lower profitability but higher market valuations. Moreover, the negative association of innovation with profitability reversed during COVID-19. Our paper provides insights into the short-term consequences of innovation and how investors perceive innovative companies. Managers and investors may use our results to better understand the key factors affecting corporate performance and value in the travel and leisure industry.

Analysis and Evaluation of the Business Innovation Strategy: A Case Study of Apple Inc.

Studying business innovation at Apple Inc. involves examining the company's past accomplishments and analyzing the strategies, processes, and underlying beliefs that underpin this innovation. This research tries to uncover the various factors contributing to Apple's success in introducing groundbreaking commercial innovations that consistently push the limits of the technology sector. This study did a comprehensive descriptive analysis to investigate information regarding Apple's business innovation through in-depth case study analysis. Apple's business innovation extends beyond tangible items to encompass the ecosystem and total customer experience. Apple revolutionizes our interaction with technology through its integrated strategy, emphasis on design, and astute market analysis. However, there are ongoing difficulties in sustaining levels of innovation, being competitive, and retaining client loyalty in this constantly evolving era.