Medium-sized Companies Research Articles

The role of digital transformation in supply chain efficiency and economic output.

From the perspective of sustainable supply chain management (SSCM), this research looks at the key elements influencing how small- and medium-sized companies (SMEs) move toward a circular economy (CE). This research aims to understand the elements that influence SMEs to embrace CE principles and determine the real-world applications of SSCM practices. This research gathered and analyzed data from diverse European SMEs working inside CE networks using a mixed-method approach. We received answers from several of these firms using a survey form sent and emailed to them. The replies were then assessed using an independent t test to account for any biases. We used confirmatory factor analysis (CFA) for the validity assessment, compound consistency, and corrected-item-total association measures to validate the model's validity and reliability. According to our research, SMEs are influenced significantly by societal pressures, green economic incentives, and environmental dedication when deciding whether to adopt CE practices. Our study further emphasizes the importance of SSCM for SMEs' successful transition to a CE model, especially regarding resource and waste management efficiency. This work contributes to the corpus of research on the topic by providing empirical support for the function of SSCM in easing the transition towards CE in the setting of SMEs. The results might serve as a reference for managers and policymakers as they create plans to encourage SMEs to embrace CE practices and to emphasize the advantages of such a change on the economic, social, and environmental fronts. Putting a particular emphasis on the vital roles that public pressure, green financial incentives, and ecological dedication play, this research provides insights into the complex interactions between SSCM and CE transition in SMEs. Further study is needed to examine how these determinants could fluctuate across various industries and geographies.

Maturity level of predictive maintenance application in small and medium-sized industries: Case of Morocco

In order to remain competitive in the long term and to push the company's efficiency to its limits, entrepreneurs are more and more open to the idea of integrating into Industry 4.0 aiming mainly at filling the important downtimes and the associated productivity losses by implementing predictive maintenance. This concept, common in developed countries, is much less widespread in Morocco and even less in small and medium-sized Moroccan companies. The objective of this article is to study the maturity level of predictive maintenance in Moroccan small and medium-sized enterprises, through a questionnaire validated by experts and made available to several companies. Valid data from 115 companies throughout the kingdom operating in different sectors were collected and processed by descriptive and factorial analysis under SPSS software. The results obtained show that only 33% of our sample were able to implement predictive maintenance, and that the expected benefits of this approach are the minimization of downtime at 96.5% and the increase in productivity at 94.8%, The main challenges observed are the lack of team motivation and a corporate culture unsuited to digitalization, which represents 42.277% of the total variance, lack of financial resources at 12.916% of the total variance and lack of data protection at 11.644% of the total variance. This analysis indicates that the level of maturity regarding the application of predictive maintenance in Moroccan small and medium-sized companies is low, these rates can be used to improve the root causes.

Enhancing Safety on Construction Sites: A UWB-Based Proximity Warning System Ensuring GDPR Compliance to Prevent Collision Hazards.

Construction is known as one of the most dangerous industries in terms of worker safety. Collisions due the excessive proximity of workers to moving construction vehicles are one of the leading causes of fatal and non-fatal accidents on construction sites internationally. Proximity warning systems (PWS) have been proposed in the literature as a solution to detect the risk for collision and to alert workers and equipment operators in time to prevent collisions. Although the role of sensing technologies for situational awareness has been recognised in previous studies, several factors still need to be considered. This paper describes the design of a prototype sensor-based PWS, aimed mainly at small and medium-sized construction companies, to collect real-time data directly from construction sites and to warn workers of a potential risk of collision accidents. It considers, in an integrated manner, factors such as cost of deployment, the actual nature of a construction site as an operating environment and data protection. A low-cost, ultra-wideband (UWB)-based proximity detection system has been developed that can operate with or without fixed anchors. In addition, the PWS is compliant with the General Data Protection Regulation (GDPR) of the European Union. A privacy-by-design approach has been adopted and privacy mechanisms have been used for data protection. Future work could evaluate the PWS in real operational conditions and incorporate additional factors for its further development, such as studies on the timely interpretation of data.

HR Practices Through the Lens of Technology and Digital Transformation

Abstract The company’s digital transformation requires the optimization and automation of processes through Industry 4.0 technology, leading to a new business model. Along with technology, effective human resource management (HRM) is crucial for this model. HRM and Industry 4.0 technology are interdependent. Technologies require new HR operating models, and HR, through organizational management strategies such as change management, agile organizations, and talent management, influences the provision of a workforce capable of implementing these disruptive technologies. This paper focuses on HR's role in digital transformation and the resulting changes in HRM and HR practices. It presents use cases of Industry 4.0 technology and their benefits. The study presented in this paper examines the impact of HR practices on operational, financial, and employee performance in relation to the use of disruptive technologies. A survey questionnaire was used to examine this impact on 11 large and medium-sized companies in Serbia, using statistical methods of descriptive statistics and correlation analysis through SPSS 23 software to analyze the results. The research showed that the use of artificial intelligence and machine learning (AI/ML) in HR processes has a positive effect on employee performance, as well as operational and financial performance. Other hypotheses were only partially proven. The research also revealed the lack of training for HR employees regarding the use of digital technologies in HR processes and digital skills compared to other sectors in the company. The recommendation is that HR managers begin training on the digitization of HRM as soon as possible.

Exploring Applications and Practical Examples by Streamlining Material Requirements Planning (MRP) with Python

Background: Material Requirements Planning (MRP) is critical in Supply Chain Management (SCM), facilitating effective inventory management and meeting production demands in the manufacturing sector. Despite the potential benefits of automating the MRP tasks to meet the demand for expedited and efficient management, the field appears to be lagging behind in harnessing the advancements offered by Artificial Intelligence (AI) and sophisticated programming languages. Consequently, this study aims to address this gap by exploring the applications of Python in simplifying the MRP processes. Methods: This article offers a twofold approach: firstly, it conducts research to uncover the potential applications of the Python code in streamlining the MRP operations, and the practical examples serve as evidence of Python’s efficacy in simplifying the MRP tasks; secondly, this article introduces a conceptual framework that showcases the Python ecosystem, highlighting libraries and structures that enable efficient data manipulation, analysis, and optimization techniques. Results: This study presents a versatile framework that integrates a variety of Python tools, including but not limited to Pandas, Matplotlib, and Plotly, to streamline and actualize an 8-step MRP process. Additionally, it offers preliminary insights into the integration of the Python-based MRP solution (MRP.py) with Enterprise Resource Planning (ERP) systems. Conclusions: While the article focuses on demonstrating the practicality of Python in MRP, future endeavors will entail empirically integrating MRP.py with the ERP systems in small- and medium-sized companies. This integration will establish real-time data synchronization between the Python and ERP systems, leading to accurate MRP calculations and enhanced decision-making processes.

AGENCIJSKI SUKOBI I KVALITETA FINANCIJSKOG IZVJEŠTAVANJA

This paper examines the impact of agency conflicts in owner-manager-creditors relations on financial reporting quality. Based on arguments from the agency theory and the positive accounting theory, we assume that companies without debt and in which managers are ultimate owners, i.e. where agency conflicts are not profound, have a higher earnings quality than companies using financial leverage and with separated owner-manager role. The data for empirical part of the research was gathered from Orbis Europe database. The sample consists of very large, large, and medium-sized companies from Croatia, Serbia, and Slovenia with financial data covering 2018 and 2019. In order to test research hypotheses the sample is divided into two groups depending on a company's ownership and debt characteristics. Descriptive statistics, univariate tests, correlation analysis and regression analysis are used to analyse the results. Our findings indicate that there is no statistically significant difference in the earnings quality concerning the type of ownership, while the level of financial leverage, by contrast, significantly decreases the earnings quality.

Research on the Marketing Strategy of Mobile Game Applications in Chinese Game Companies Taking miHoYo as an Example

The global mobile gaming market has grown rapidly in recent years, bringing in huge profits while maintaining its growth potential. The current state of the market has attracted many large game companies to enter, while many small and medium-sized game companies are also developing new games to attract customers. In this study, the author chooses miHoYo as the research object to first analyze the current market situation and trend that miHoYo is facing based on data reports and literature, and then use the 4Ps theory to analyze miHoYos marketing strategy. In the face of the increasingly competitive but highly promising mobile game market, miHoYo mainly adopts the strategy of releasing innovative products while continuously developing new market segments; its pricing, promotion, and publicity strategies focus on game products, co-branding with other brands and platform publicity. Lastly, based on the high pressure of market competition, unsatisfactory community discussion environment and information leakage problems that miHoYo is currently facing, suggestions are provided for miHoYos future development.

Exploring incentives and reticences to implement telework in small companies

Since the outbreak of the COVID-19 pandemic, a significant share of workers has been involved in some form of telework. Remote work arrangements are currently affecting a wide range of firms and industries. However, its usage is significantly lower among small and medium companies. So far, the study of the attitudes and motivations of business owners and managers of small companies for promoting this new modality of work organization has been poorly addressed. This research aims to reduce this shortage by implementing an empirical analysis based on a sample of managers in small and medium-sized (SMEs) European companies. Our findings reveal the critical influence of organizational culture, the achievement of competencies related to the capacity of team building using digital tools and the subjective perceptions of usefulness on the decision to implement telework. It also provides insight into the most important determinant factors for reshaping work organization in European SMEs. Considering the incipient regulatory framework for flexible work arrangements, the results have practical implications for in-company training strategies and the policies to foster telework implementation in SMEs.

The Influence of Microfinance Institutions on Nigerian Small, Micro, And Medium Enterprises

Purpose: Poverty is a significant concern in most countries, including Nigeria, which has been dubbed the world's poverty capital. Most developing countries regard small, micro, and medium-sized companies (SMMEs) as a sure strategy to reduce poverty by lowering a country's unemployment rate. Microfinance institutions (MFIs), especially banks, were commissioned by the Central Bank of Nigeria (CBN) to cater to self-employed people and businesses. There is compelling evidence that MFIs are not doing enough and are failing to fulfill their mandate. As a result, this paper sought to investigate the impact MFIs have on SMMEs in Nigeria.
 Design/methodology/approach: This descriptive study, made use of a convenience sample strategy to collect survey data from 384 SMMEs in two Nigerian states: Abuja and Nasarawa. Data was collected from 350 respondents.
 Findings: The findings showed that MFIs significantly influenced SMMEs regarding technology transfer and financial services and aided SMME (small, medium, and micro enterprises) growth. MFIs in Nigeria are ineffective in offering the services of aspects of facilitator of SMEs growth, tool for social change, provider of banking services to the people and transferor of technology.
 Practical implications: The CBN should make sure that MFIs, especially the banks focus more on servicing SMMEs. MFIs should do more in the areas of sensitiation and tailor their products to suit their customer base.
 Originality/value: There are limited studies on the Nigerian context for SMMEs and MFIs.

소규모주택정비사업의 활성화 방안에 관한 연구

As the industry developed and the need for housing increased due to population growth, the housing shortage was solved by constructing houses centered on large-scale apartments. Most of the supply of housing for the common people was achieved by small and medium-sized construction companies building multi-generational and multi-family houses such as villas, which are small houses. It was distributed. The small houses distributed in this way are deteriorating and left empty, damaging the scenery of residential areas, and there are also cases where they are abused as a place for youth to escape. To solve these problems, the government is also recommending the redevelopment and reconstruction of housing. However, the current reconstruction and redevelopment is being carried out focusing on large-scale complexes that can generate a lot of profit based on business feasibility, which makes it difficult for indigenous people to settle down and often turns into a stage for speculators. Therefore, the government in 2018 said, The “Special Act on the Maintenance of Vacant Houses and Small Houses” was implemented to play a role in improving the quality of residential life by stipulating matters and special provisions necessary to efficiently renovate vacant houses and revitalize the maintenance of small houses. However, to date, the improvement of small houses or empty houses has not been promoted as intended by this law. The small house improvement project has the advantage of speeding up implementation by simplifying the project implementation procedures, but there are difficulties in implementing the project in the field. In particular, it is not uncommon for projects to not proceed smoothly due to issues such as the composition of a council before establishing a cooperative and the dispute resolution process between residents who consented without knowing during the process of obtaining consent from residents and residents who expressed their opinion to cancel consent after consenting. It's happening. There is also the problem that it is difficult to make a profit for the developer due to the small size of the complex. Therefore, there are difficulties in selecting a business operator, which is the starting stage of the business. There are some areas where it is difficult to proceed with the project due to difficulties in establishing a cooperative.
 When reorganizing a city, the climate is changed to one in which development is carried out through small-scale housing redevelopment that harmonizes with nature and the environment rather than large-scale redevelopment, so that urban development is not a feast for speculator, but rather the original local residents do not leave and the residential environment is improved. I hope that this will change the perception that urban maintenance is carried out as a result.

Analisa Metode Backpropagation Dalam Memprediksi Jumlah Perusahaan Konstruksi Berdasarkan Provinsi di Indonesia

This research aims to analyze the number of construction companies in Indonesia and gain an understanding of the trends and characteristics of the construction industry in that country. In this research, data related to the number of construction companies is analyzed using available sources such as government statistical reports, industry publications, and other secondary data sources. The data we use in this research is data on the number of construction companies by province in Indonesia from 2016-2021 which was taken from the website of the Central Statistics Agency (BPS) using the backprogation artificial neural network (JST) method. The analysis results show that the number of construction companies in Indonesia has increased significantly in recent years. It is hoped that this research will encourage strong economic growth and increasing investment in the infrastructure and property sectors has driven demand for construction services. In addition, government policies that support the construction sector, such as infrastructure development programs and regulations that facilitate foreign investment, also contribute to the growth in the number of construction companies. Apart from growth trends, this research also identifies several characteristics of the construction industry in Indonesia. The industry is dominated by small and medium-sized companies operating locally, although there are also large companies involved in large-scale projects. Competition in this industry is fierce, with companies vying to win construction contracts and develop a competitive advantage. The architectural models that we use in this research are 6 architectural models, of which the best architectural model will be obtained. The architectural models include 5-11-1-1 with an accuracy percentage of 61.8%, 5-12-1- 1 with an accuracy percentage of 70.6%, 5-14-1-1 with an accuracy percentage of 82.4%, 5-18-1-1 with an accuracy percentage of 64.7%, 5-20-1-1 with an accuracy percentage of 70.6%, 5-22- 1-1 with an accuracy percentage of 73.5%. So the best architectural model is obtained, namely the 5-12-1-1 model which produces an accuracy rate of 82.4%. with a Mean Square Error (MSE) of 0.00099997 with an error prone of between 0.001-0.05. These results are quite good in predicting the number of construction companies based on provinces in Indonesia

Environmental Impact Decision Support Tools for Horticulture Farming: Evaluation of GHG Calculators

Horticulture is essential in the European agricultural sector and fundamental for many EU member states. Decision Support Systems and Tools can play an essential role in a shift to result-based agriculture and evidence-based decision making, improving productivity and environmental performance of farming practices. Investigations have been conducted on horticulture crop and farming impact on the environment and Green House Gas emissions. Despite the availability of a broad spectrum of tools, the use of Decision Support Tools in agriculture in Europe could be much higher. This research aims to analyze and recommend environmental impact Decision Support Tools for small and medium-sized companies to approach, measure, and evaluate horticulture farming. The research methodology includes a systematic review, bibliometric analysis, Multicriteria Decision analysis, and a case study analysis. During the research, multiple tools, including calculators used for an impact assessment of the agricultural sector, were selected. After applying eligibility criteria, an in-depth analysis of eight of the most suitable calculators was performed. The results of the Multicriteria Decision analysis show that the Solagro Carbon Calculator, The Farm Carbon Calculator, and the Cool Farm Tool are recommended in the first place as Green House Gas calculators for farmers.

ANALYSIS OF THE COMPOSITION OF CAPITAL STRUCTURE BY USING ECONOMIC VALUE ADDED (EVA) APPROACH IN TFD A COMPANY

This research uses case study and aims to evaluate the capital structure of TFD A Company which is a company in the agribusiness industry sector and within the scope of a medium-sized company. During Covid-19 pandemic in 2020-2021, TFD A Company experienced billing difficulties to the manufacturer (buyer). The results of this study show that the EVA value of TFD A Company recorded an increase in negative value but the company still achieved an increase in its net profit. Based on the research of the two comparative companies, it is concluded that the composition of capital structure has its own risks. The implication of this research is that the TFD A Company should consider publicly listing its company, assessed by the composition of the capital structure, the company’s obligations to its shareholders, and the ability to record net income.

The impact of green supply chain management on the economic performance of SMEs, considering environmental conditions

Green supply chain management in small and medium-sized companies tries to benefit from this category in the entire supply chain as a strategic tool in sustainable competitive advantage through creating a favorable and indicative relationship from an environmental point of view throughout the supply chain. The aim of the research is to investigate the impact of green supply chain management (GSCM) on economic performance through the moderating role of customer governance in small and medium-sized companies. The research method is descriptive-survey. The statistical population consists of 345 small and medium-sized companies throughout Indonesia. The sample size was determined using Cochran’s formula and random sampling method of 300 cases. The instrument used is a questionnaire. Their reliability was confirmed by the method of Cronbach’s alpha coefficient of 0.70, and the validity of the instrument was confirmed by the content and structure method. Research data was analyzed using SPSS software. The results showed that the measuring tool of research variables has the necessary validity and reliability. The findings of the research show that the implementation of GSCM has a positive and significant effect on the environmental and operational performance of the company, and the implementation of GSCM does not have a significant effect on the economic performance of the company. Managers can consider improving the capacity of knowledge, skills and experience through employee training and benefiting from experienced people to develop relationships with customers.

The Role of the Warehousing Module in the Building of a Modern Enterprise Resource Planning System

This article presents a developed and functioning Enterprise Resource Planning (ERP) for the warehouse logistics management, designed for the needs of small and medium-sized companies in Bulgaria. The current ERP system aims to satisfy the needs of a specific transport company – to track and manage the main activities. The main thesis of the present development is the leading role of software innovations in the use of data, their summation and distribution among the company's employees in real time. The design methodology of the developed system includes a study and thorough analysis of customer needs and requirements in order to fully cover the processes in the client company. At the same time, the system is flexible enough to adapt easily to future changes in the customer environment. The article presents the main characteristics of the implemented system, such as ease of use, speed, and intuitive design. As a result of its implementation, the management decision-making processes of both the middle and senior management teams of the company have been significantly supported and facilitated. The developed system has a market implementation in Bulgaria, and is in the process of searching for sales representatives, partners and customers in other countries.

Family firms and investment innovation

This study, with the aim of improving the performance of small and medium-sized companies, expresses the impact of the decision-making of managers and entrepreneurs of these companies in the direction of investment innovation in today’s business conditions with wide variables and technological growth. This paper focuses on the phenomenon of innovation within family businesses, seeking to identify and analyse its role in enhancing family-owned firms. The research investigates the influence of family ownership, family management involvement, internationalization strategies, and company size on innovation within the context of family-owned manufacturing companies listed on the Indonesia Stock Exchange. Data spanning is the 2019-2021 period, collected from annual reports and announcements of these manufacturing firms, reveals that family ownership and firm size correlate with investment in innovation. However, the recruitment of family management and the implementation of family-owned business internationalization strategies appear to exert limited influence on innovation activities. Considering the importance of family companies in economic and technical progress and the complexities and changing conditions governing their business environment, this research main contribution is to show how managers and entrepreneurs make decisions in investment innovation according to the conditions of governing in family small and medium companies.

Expectations of manufacturing companies for suppliers regarding the improvement of their processes

The article presents the results of conducted empirical research in which an attempt was made to identify the expectations of manufacturing companies towards suppliers in terms of process (logistics customer service, supervision over property customer, production monitoring, supplier supervision) improvement. The research was conducted using the Computer Assisted Telephone Interview (CATI) technique. The research covered 150 production medium and large size companies (employing over 50 people) who were suppliers for enterprises from the automotive, electromechanical and chemical sectors operating in the Polish industrial market. The expectations of production companies towards their suppliers regarding improvement of processes concept were assigned a rank on a scale from one (the least important criterion) to five (the most significant). The analysis of the results of the conducted research shows that the implementation of management tools such as international organizational standards (ISO), Kaizen or Lean Management by companies that are purchasers may affect the expectations towards suppliers in terms of improving their processes. The considerations undertaken in this article confirm that in order to compete on the modern market, close cooperation and cooperation within the supply chain are needed. Representatives of the surveyed manufacturing companies notice this fact and set high expectations for their suppliers in virtually all the surveyed aspects. Conducted research shows that suppliers must pay special attention to the implementation of processes related to ensuring and improving the technical quality of products by focusing on improving control and supervision processes and logistical aspects of customer service. Proper implementation and improvement of these processes requires a methodical approach. Based on the obtained research results, managers of organizations supplying manufacturing companies can obtain important information that will be used to improve processes that are important from the point of view of their recipients. On this basis, they can make an optimal allocation of resources and modify the management style to improve cooperation with manufacturing companies.

Intellectual capital efficiency and competitive advantage of firms: an empirical analysis

This paper empirically tests the strategic importance of intellectual capital for firms and assesses its impact on their market returns. The study builds on the premise that intellectual capital provides a firm competitive advantage over other firms, which then translates into superior market returns. The sampling frame for the study constitutes of Indian firms listed on the Bombay Stock Exchange’s index for medium-sized companies (BSE Midcap). Accordingly, seven-year data is drawn from authentic sources such as the Prowess-IQ database of the Centre for Monitoring Indian Economy (CMIE) and the company annual financial statements. For ascertaining the extent of the intellectual capital efficiency of firms, the Value-Added Intellectual Coefficient (VAIC) model, first proposed and conceptualized by Ante Pulic has been adopted in this study. The excess rate of return that a firm earns above the average rate of return prevalent in the market, alpha (α), is used as an indicator of the firm’s competitive advantage and a measure of superior performance in the market. Results of the analysis provide irrefutable evidence in support of the fundamental premises and affirm that intellectual capital is the root of competitive advantage, which bestows a firm with higher-than-normal returns on investments.

The External Technological Context of Artificial Intelligence in Financial Services

The purpose of this research is to improve the understanding of the external technological context of Artificial Intelligence applied in financial services, together with other technological solutions such as digitization, automation, cloud computing and licensing. The authors studied the external technological context by analyzing the technology providers that are represented by the companies with CAEN code 620 – Service activities in information technology. The purpose of this study was to obtain and analyze answers to six research questions, as follows: what is the role of service providers, what are the other technologies offered by them together with Artificial Intelligence, how can this technology be effectively implemented, what is the involvement users in application development, if there will be specific training and what is the level of implementation of Artificial Intelligence in financial services. The authors found that often the investigated companies use their technology services only for banks, Fintech and large financial companies. Therefore, for small and medium-sized companies, the service providers included in the study are not suitable, and further research should be carried out in this regard. An interesting result emerged from the study of long-term relationships between the technology company and the financial company to improve the solutions and provide the necessary maintenance services until the solutions provide results with close to 100% accuracy.

Structural characteristics and sustainable organizations and their perspectives

The objective was to analyze the dimensions, components of technological capacity and management technologies, as innovative perspectives of organizational sustainability. It investigated in micro, small and medium-sized companies “which technical and managerial characteristics are suitable for innovation and sustainability?" Specifically, what is the relationship between technological capabilities and management technologies allied to entrepreneurship, with organizational sustainability and sustainable development?" In the method, research in the literature and field in the universe of 1,758 micro, small and medium industrial, and 15,112 micro and small industrial and service companies, with a stratified random sample and accessibility. The analysis presented here suggests that predictable dimensions, competencies and technological capabilities, combined with appropriate management technologies, are prominent factors in evaluating innovative and sustainable organizational structures that lead to economic and social development.