Development Of New Services Research Articles

Analysis of innovative financial instruments in modern Ukrainian scientific literature

Innovative financial instruments act as a driving force for economic development. In the modern economy, the role of innovative financial instruments has grown significantly. With the application of financial innovations, it is almost possible to obtain high profits, minimize costs, develop new markets, and create competitive products with a high degree of novelty. So, in the market economy, innovative financial instruments are an effective means of competitive struggle, as they lead to the creation of new needs, a reduction in the cost of products, an inflow of investments, and an increase in the image of the manufacturer of new products, to the attraction of new customers. This article aims to define the essence of innovative financial instruments, drawing on an analysis of existing definitions of the concept of 'financial innovation' in contemporary Ukrainian scientific literature. Building on the reviewed material, this article presents an analysis of the types of innovative financial instruments put forth by Ukrainian scientists. L. B. Kolinets offers a classification that includes innovations related to equity instruments and debt instruments. Another group of scientists, S. V. Radinsky and O. D. Dyachun, identify financing instruments, hedging instruments, and special financial services as innovative financial instruments. The article also references other types of innovative financial instruments explored in the works of contemporary Ukrainian scientists. We analyzed statistical data on the development of derivatives and fintech and implemented business projects in Ukraine with the help of the «Big Idea». The expediency of using innovative financial instruments has been determined. The main advantages of using innovative financial instruments are that they accelerate business development, expand access to capital, and support the development of new products and services. In conclusion, ways were suggested to contribute to developing innovative financial instruments. Keywords: financial instruments, financial innovations, derivatives, crowdfunding platforms, cryptocurrency, blockchain technologies, fintech, payment system.

Pervasive Computing For New Design In Big Data Analytics Software Development: Requirements Engineering Perspective

In recent years, the field of big data has been rapidly growing and has become a crucial aspect of many industries. The ability to collect, analyze, and interpret massive amounts of data has enabled businesses to make more informed decisions and has led to the development of new products and services. However, with the increase in data volume, velocity, and variety, traditional software development methods have become inadequate. This has led to the emergence of new design approaches that can handle the complexities of big data. Big data is very important nowadays for business organizations to make smart decisions based on insight gained from the big data. These benefit the organization to be competent in the market as well as to maximize their profit. However, there is a high rate of big data software project failure. This is due to a lack of new design approaches that can handle different dimensions of requirements for big data. The objective of this paper is to show how the pervasive computing / pervasive requirements engineering approach should be considered for big data software development based on different perspectives in pervasive environments to design new software

Development of youth tourism in Kazakhstan: a conceptual approach to studying

The purpose of the study is to analyze the development of youth tourism, taking into account sociocultural and economic conditions, depending on the consumer behavior of young people based on a conceptual approach.Methodology. The study used interdisciplinary methodology, including analysis of existing literature, comparative analysis of world practice in youth tourism, methods of observation, analysis and comparison of data, conducting a survey among the youth of Kazakhstan.Originality / value of the study. The conceptual approach to the study of youth tourism in Kazakhstan can be important for understanding trends in the tourism industry, for the development of new products and services to meet the needs of youth, contributing to the economic and social development of the country. The analysis of youth tourism represents an important contribution to the study of youth tourism in Kazakhstan and can be useful for developing a strategy for the development of youth tourism.Findings. The study identified the main directions of youth tourism in Kazakhstan, identified the features of consumer behavior of young people in the conditions of adaptation to the world practice of the national environment. The results of the study represent a valuable contribution to the understanding of youth tourism and can serve as the basis for developing a conceptual model for the development of youth tourism in the Republic of Kazakhstan. Practical recommendations can improve the mechanisms for the development of youth tourism, create favorable conditions and increase attractiveness for young travelers.

Big data analytics capabilities: direct and mediating relationships with innovative and business performance

This study examines the effect of key big data analytics capabilities (data, skills, technology, and culture) on innovation performance and business performance. Data were gathered from 91 companies and analyzed to determine correlations in the proposed model. The results find that big data analytics capabilities (BDAC) partially mediate the effect between innovative performance and business performance. Further, as a company’s performance is a multidimensional element, was necessary to analyze more than one attribute to evaluate the relationship with BDAC through a canonical correlation analysis. The results in this sense reveal that the four big data capabilities increase the growth of sales, revenue, the number of workers, the net profit margin, innovation management, the development of new products and services, and the adoption of new information technologies.

Adaptive Strategies in Entrepreneurial Ventures: Navigating Uncertainty and Market Dynamics at MSMe

This study explores the critical role of adaptive strategies in maintaining the growth and competitiveness of Micro, Small, and Medium Enterprises (MSMEs) in dynamic market environments. MSMEs significantly contribute to employment creation, innovation, and overall economic development but face unique challenges such as limited resources, market access, and vulnerability to market changes. Adaptive strategies like product diversification, digital transformation, and strategic partnerships have been found effective in enhancing MSME performance. Product diversification allows MSMEs to enter new market segments and reduce dependence on a single product line, while digital transformation improves operational efficiency and market reach. Strategic partnerships provide access to previously unavailable resources like technology and distribution networks. However, the implementation of these strategies is often hampered by financial constraints, lack of technological knowledge, and resistance to change. The study also highlights the importance of continuous learning and innovation for MSMEs to stay competitive. Continuous learning updates the knowledge and skills of MSMEs in line with industry developments, while innovation enables the development of new products or services that meet changing market needs. Case studies presented in the research demonstrate successful adoption of adaptive strategies by MSMEs to address challenges and leverage market opportunities. The findings offer practical insights for MSME owners, policymakers, and academics on the importance of adaptive strategies in navigating market uncertainties and achieving sustainable growth. The study also provides recommendations for supporting MSMEs in adopting adaptive strategies through initiatives such as training programs, digital transformation funding, and strategic partnership schemes.

DEVELOPMENT OF FINANCIAL TECHNOLOGIES IN THE REPUBLIC OF KAZAKHSTAN (on the example OF JSC IC NOMAD Insurance)

The article is devoted to assessing the impact of financial technologies on the well-being of insurance companies, to identify negative factors hindering their implementation and development and to suggest ways to reduce this impact. The research used general scientific methods of analysis and synthesis, as well as statistical, correlation and regression methods. The empirical base of the study was made up of official reports and materials of JSC IC Nomad Insurance. The financial technology market in Kazakhstan is one of the fastest growing in Asia. Due to the achieved high level of Internet access penetration (over 90%), the country's fintech sector has huge growth potential. At the same time, large organizations, including companies from the telecommunications sector, are experimenting with the development and implementation of new products and services. And this will contribute to the emergence of new financial technologies in the insurance sector and the emergence of new challenges that require study and solution, which will be the direction of future research. Recommendations have been developed to optimize insurance activities using financial technologies. The company should introduce a number of insurance products and apply technologies to create a "smart" image of the insurance object. Forecasting of the values of the net amount of insurance premiums for the coming years was carried out, the data of which indicates the continuation of the positive dynamics of the activities of JSC IC Nomad Insurance.

Effect of Production Flexibility on Performance of State-Owned Sugar Companies in Western Region, Kenya By IJISRT

The underperformance of the Kenyan sugar sector is a major issue that is affecting the ability of the sector to generate revenues or profits that can be used for supporting economic growth and development. Even though the current sugarcane cover is more than 220,000 ha, productivity has remained low achieving only 55 tonnes/ha. Meanwhile, production costs rose sharply reaching US$1007/tonne in 2018. Strategic flexibility in the form of production flexibility has been proposed as a potential solution to help improve the performance and competitiveness of the sugar sector. The aim of this study was to examine the effects of production flexibility on the performance of state-owned sugar companies in Western Kenya. A cross-sectional interview was conducted on a sample of 63 supervisors from the sugar factors selected (Miwani, Mumias, Nzoia, Sony Sugar, Muhoroni and Chemelil Sugar Companies). The regression analysis depicting the relationship between the strategic performance of these organizations and the production flexibility approaches put in place shows that the relationship was significant, F (9, 53) = 27.076, p = 0.000. In this relationship, there was a strong positive relationship between production flexibility and the strategic performance of the organizations in the market. Therefore, the relationship implied that the amount of responsiveness to potential changes in the market through product design changes and the development of new products and new services was pivotal for the strategic performance and productivity of the factories. The other two factors included in the model namely education and years of experience of the employees did not affect the strategic performance of these factories. From the study, it is recommended that there is need for public sugar companies to adjust production capacity, adopt automation and evolving technologies so as to improve on their performance and be able to remain competitive in the market.

FINANCIAL TECHNOLOGY INNOVATION AND BANKING INDUSTRY TRANSFORMATION

This research aims to innovate in technology, finance, and transformation in the banking industry. The research method used in this research is qualitative. Qualitative research is a research method used to understand social phenomena in depth. This type of research is library research, which researchers carry out by collecting, studying, and analyzing references or sources. obtained in writing or written form, such as books, journals, articles, documents, and other sources of information that are significant to the topic or title being researched. The research results show that the impact of development technology on industry banking in Indonesia is positive, namely: Improvement Efficiency and Productivity: Adoption technology has brought significant enhancements to efficiency bank operations, with automation of processes and usage intelligence artificial to reduce costs and improve productivity. Enhancement Experience Customer: Innovation technology has allowed banks to increase customer experience through applications in digital banking, customer chatbot-based services, and self-service platforms. Enhancement Security and Management Risk: Although there are worries related to data security, development technology has the potential to repair significant system security and management risks. With the use of data encryption and analysis behavior, users can identify and respond to threats to security more quickly. Innovation Products and Services: Technology has pushed the development of new products and services in the banking industry, including robo-advisors, peer-to-peer lending platforms, and applications for mobile payments, which deliver a markup for customers and help banks expand their market share. Enhancement Efficiency and Transparency Management: System Management Integrated information and analytical dashboards have increased efficiency and transparency in bank management.

Group Key Management Protocols for Non-Network: A Survey

The phenomenal rise of the Internet in recent years, as well as the expansion of capacity in today's networks, have provided both inspiration and incentive for the development of new services that combine phone, video, and text "over IP." Although unicast communications have been prevalent in the past, there is an increasing demand for multicast communications from both Internet Service Providers (ISPs) and content or media providers and distributors. Indeed, multicasting is increasingly being used as a green verbal exchange mechanism for institution-oriented programmers on the Internet, such as video conferencing, interactive college games, video on demand (VoD), TV over the Internet, e-learning, software programme updates, database replication, and broadcasting inventory charges. However, the lack of security within the multicast verbal exchange model prevents the effective and large-scale adoption of such important company multi-celebration activities. This situation prompted a slew of research projects that addressed a variety of issues related to multicast security, including confidentiality, authentication, watermarking, and access control. These issues should be viewed within the context of the safety regulations that work in the specific conditions. For example, in a public inventory charge broadcast, while identification is a vital necessity, secrecy is not. In contrast, video-convention programme requires both identification and confidentiality. This study gives a complete examination and comparison of the issues of group key management. Both network-dependent and network-independent approaches are used. The study also addresses the advantages, disadvantages, and security problems of various protocols.

Tourism and hospitality industry: A case study of Polish female firms

The objective was to identify the firms’ short-run and long-run strategies that contributed to firms’ development, job creation and economic growth of local economies, and employees’ and customers’ satisfaction across all Butler’s stages of development. The results indicate that the firms have been successful supporting environmental sustainability, conservation of natural resources, and protection of cultural elements of local communities. During the Covid-19 shutdown, the female entrepreneurs assessed past strategies, invested in development and production of new and better-quality products and services, advanced employees’ and entrepreneurial skills, and transformation of digital and production infrastructure. The study identified the importance of government policies critical for entrepreneurship success, particularly during global crises. The paper illustrates several lessons focused specifically on fostering a supportive work environment that enables firms to endure through and successfully recover from market shocks or global crises. The study concludes that all female entrepreneurs were experienced, motivated, visionary, goal-oriented, and innovative regarding their entrepreneurial undertakings while focusing on understanding the needs and maximizing employee and customer satisfaction. The resiliency they developed enabled them to stay focused on their goals and maintain successful operations while facing insufficient financial and non-financial support, market challenges, and global crises.

Pengembangan Layanan Baru dan Penggunaan Teknologi dalam Strategi Inovasi pada Masa Pandemi Covid-19

This research aims to analyze the development of new services and the use of technology in innovation strategies at Hospital X during the COVID-19 pandemic. The research method uses a case study approach with interviews, document review, and observation, as well as Focus Group Discussions (FGD). The research results show that health service innovation strategies at Hospital hospital services such as registration, payment transactions, service outreach, or online consultations. Apart from that, increasing the use of e-health or IT, such as telemedicine, drive-thru vaccination, drive-thru PCR/antigen/antibody swabs, MCU on site, and home care, etc. can provide speed and accuracy in service delivery. In conclusion, in the digital era, the pace of change has become very fast. Hospital X applies these strategic, creative, execution and organizational factors in innovation. Keywords: COVID-19, Innovation, Service Development, Strategy, Technology.

Motivations in the adoption and conversion of freemium services: insights for digital entrepreneurship

AbstractTechnological advancements have created opportunities for entrepreneurship and innovation and enabled the development of new products, services, platforms, and business models, including the freemium business model. The freemium business model is present in several digital services (e.g., music, social networking, and gaming), but, for businesses to succeed, it is of the utmost importance that users convert their subscriptions from free to premium. Previous research has endeavored to explain what motivations drive consumers to adopt different digital services and platforms and what motivations and user characteristics lead them to convert to the premium service, but little research has been dedicated to the motivations for consumers to distinguish between competing platforms. To enhance comprehension of these matters, this study analyzes a group of motivations and user characteristics as explanatory variables. Data was obtained via an online questionnaire, with a sample of 231 users of music streaming platforms. The main results suggest that satisfaction, perceived value, and ubiquity are statistically significant motivations that positively influence choosing a platform. Regarding subscribing to the premium service, the same motivations, as well as users’ age and occupation, present influential results, which are relevant from theoretical and managerial points of view, especially for entrepreneurs aiming to define the best strategy to successfully deploy their digital businesses.

Harnessing customized AI to create voice of customer via GPT3.5

The integration of customer feedback is universally acknowledged as crucial in the product development process. Yet, traditional feedback collection methods employed by companies, such as interviews and surveys, have remained mainly unchanged and come with limitations. Interviews often fail to accurately capture customers' needs due to communication barriers, while surveys prompt only incremental changes instead of inspiring innovation. This challenge is compounded in the service industry, where feedback is intangible and more difficult to quantify. Text analysis presents a promising solution to delve into customer preferences more deeply, providing insights that can guide the development of new products and services. Our research advances the use of generative AI, specifically the GPT engine, beyond its conventional role as a chatbot. We innovate by adapting it to extract actionable insights from customer-service interactions, offering real-time, valuable data for decision-making and representing a significant leap forward in Voice of the Customer (VoC) analysis.

Knowledge-oriented leadership for improved coordination as a solution to relationship conflict: effects on innovation capabilities

ABSTRACT This paper analyzes knowledge-oriented leadership and coordination as factors that help organisations to reduce conflicts in workplace relationships, with the aim of improving innovation capabilities. To date, these factors remain underexplored in the hotel industry, the future sustainability of which depends on the development of new services and business processes. This paper proposes a series of hypotheses about the role of knowledge-oriented leadership and coordination in developing an environment that is conducive to reducing conflicts, the result of which is an improvement in the innovation capabilities of hotel establishments. The hypothesised relationships between variables have been tested by means of structural equation modelling using SmartPLS 4.0. The results show that innovation capabilities improve when hotel establishments implement this type of leadership adequately as, with the use of knowledge management tools, the coordination of tasks is improved, thereby reducing the negative effects of workplace relationship conflict.

Exploring and Mapping the Research Landscape on Innovation Capabilities: A Bibliometric Review

In the contemporary global landscape dominated by technology, innovation emerges as a cornerstone for organizational prosperity and longevity. This study undertakes a comprehensive bibliometric review to explore the research terrain concerning innovation capabilities. It transcends the conventional view of innovation solely as the development of new products or services, emphasizing its broader scope, which includes the strategic management of ideas and knowledge through collaborative efforts. Employing advanced bibliometric techniques, the research meticulously identifies trends, academic contributions, and knowledge gaps in the field of innovation. Its primary objective is to offer actionable insights to stakeholders, enabling them to bolster their innovation strategies and effectively tackle challenges in the dynamic market environment. By delving into the multifaceted dimensions of innovation, the study highlights its crucial role in driving organizational competitiveness and resilience. Decision-makers are equipped with practical guidance, emphasizing the cultivation of a culture of creativity and the leveraging of external partnerships. In an era marked by uncertainty, the study underscores the necessity for organizations to embrace innovation as a strategic imperative. By seizing opportunities and navigating challenges adeptly, organizations can position themselves for sustained success in the digital age. Ultimately, this research transcends mere academic inquiry; it serves as a call to action for organizations to harness the transformative power of innovation for growth and transformation. By heeding the insights gleaned from this study, organizations can navigate the complexities of the modern business landscape and emerge as leaders in their respective fields.

Enhancing corporate brands through service robots: The impact of anthropomorphic design metaphors on corporate brand perceptions

AbstractThe increasing introduction of intelligent, interactive robots in the service industry raises concerns about the potential dehumanization of service provision and its influences on corporate brand perceptions. To avoid adverse effects, new service development (NSD) managers seemingly favor service robots that feature anthropomorphic design metaphors, so they appear more human‐like. The current research investigates explicitly how customers' perception of a robot's anthropomorphic design metaphors might spill over to affect corporate brand perceptions. Study 1, a picture‐based scenario study with 109 participants, reveals the impact of anthropomorphic design metaphors on untested corporate brand outcomes, such as brand trust and brand experience. Then Study 2, a video‐based scenario study with 530 participants, addresses whether these effects depend on the service context. In Study 3, a field study of 393 participants, the authors examine how anthropomorphic design metaphors influence other firm‐related outcomes (e.g., shopping enjoyment, sales). The combined results confirm that anthropomorphic design metaphors strongly affect brand trust and brand experience, as well as other critical firm‐related outcomes; they also reveal notable context effects, such that customers of people‐processing (e.g., care services) and mental‐stimulus‐processing (e.g., shopping assistance) services appear more likely to use anthropomorphic design metaphors as corporate brand cues. Our research encourages NSD managers and scholars to consider the effects of introducing anthropomorphic service robots on corporate brands.

Mobile Network Operators’ Assessment Based on Drive-Test Campaign in Urban Area for iPerf Scenario

The development of new telecommunication services requires the implementation of advanced technologies and the next generations of networks. Currently, the Long-Term Evolution (LTE) is a widely used standard. On the other hand, more and more mobile network operators (MNOs) are implementing the fifth-generation (5G) New Radio standard in their networks. It allows for increasing throughput, spectral, and energy efficiency and maximizing coverage, while reducing latency. The effectiveness of the introduced changes is measured by assessing the quality of service (QoS) in mobile networks. The paper presents the result evaluation of the QoS measurement campaign carried out using the drive test method in an urban area for four MNOs. We analyze the data transmission scenario, which is the basis of most modern telecommunications services. The result comparison provides an assessment of the 5G service implementation advancement by MNOs. In this analysis, we consider many QoS metrics (e.g., session time, throughput, and round-trip time) and parameters defining the radio signal quality (i.e., reference signal received power, signal-to-interference-plus-noise ratio). Our work also included searching for relationships between these parameters, using a correlation analysis. It allows for the selection of uncorrelated parameters to assess the quality of network, i.e., MNO evaluation, in terms of the provided QoS.

Innovation capability, strategic flexibility and SME performance: the roles of competitive advantage and competitive intensity

PurposeThis study aims to explore the mediating role of competitive advantage and the moderating role of competitive intensity in the relationship between innovation capability (IC) and small and medium-sized enterprise (SME) performance and between strategic flexibility (SF) and SME performance.Design/methodology/approachThe study adopted a survey research design. The data were collected from a conveniently selected sample of 159 SMEs in Nigeria using a self-reported questionnaire. Mediation and moderation analyses were performed using Hayes' PROCESS macro v3.FindingsResults showed that IC and SF positively affect SME performance. Also, competitive advantage significantly mediates the relationship between IC and SME performance and between SF and SME performance. Additionally, competitive intensity positively and significantly moderates the relationship between IC and SME performance but fails to significantly moderate the relationship between SF and SME performance.Practical implicationsThe findings have managerial implications for SME owners and managers. The findings suggest the need for SMEs to develop more IC and increase their SF. Thus, SME owners and managers should invest more in developing IC and SF. More specifically, they should invest more in research and development, the development of intellectual capital (consisting of human capital, structural capital and relational capital) and new technologies, products, services and processes. Also, they should nurture an innovation culture, encourage creative and innovative acts and allow employees to experiment with new ideas without hindrances.Originality/valueTo the best of the author’s knowledge, this study is the first to provide empirical evidence of the mediating role of competitive advantage and the moderating role of competitive intensity in the relationship between IC and SME performance and between SF and SME performance in the context of emerging economies such as Nigeria. The study validates dynamic capabilities theory by demonstrating that IC and SF are dynamic capabilities that give SMEs a competitive advantage and enhance their performance.

Analysis of the Radiation from a Complex Multi-Conductor Transmission Line

The Deployment of Power Line Transmission (PLT) and the development of new broadband services over the telephone network through technology like xDSL (x Digital Subscriber Line), requires higher data rates, consequently higher bandwidths, and operating frequencies. So it is generally accompanied with electromagnetic compatibility (EMC) phenomena, in particular the radiated emissions associated to the deployed system and used cables characteristics. In fact the electrical cable presents variations in their geometry, causing an increase in the electromagnetic radiation. This paper presents a theoretical approach to study a complex transmission line network over ground plane. This approach leads to an analytical expression for the evaluation of P.U.L. parameters of finite length twisted wires lines. These expressions give the capacitances and the inductances values in every point of the cable, the theoretical results are compared to measurements. The formalism is also derived to determine the distribution of the electromagnetic field radiated by Shielded or Unshielded Twisted Pair cables with discontinuity. The obtained results are compared to those provided by a code based on the antenna theory.

STATE REGULATION OF THE NATIONAL ECONOMY IN THE CONDITIONS OF WAR (FOR EXAMPLE ELECTRONIC COMMUNICATION SERVICES MARKET)

The purpose of the article is to systematize and generalize the features of state regulation of the market of electronic communication services under martial law. It is noted that the needs for regulation during the war may change depending on market conditions and the structure of the legal framework, shelling of critical infrastructure, cyber attacks, but the key components for effective regulation are the functional aspects of the regulatory body, its subordination, the analysis of the preventive and operational regulatory impact at decision-making, protection of the industry and protection of consumer rights, etc. The article presents the regulatory framework of the state regulation of the market of electronic communication services in modern and historical aspects. It was determined that the national regulator of the market of electronic communication services in Ukraine is the National Commission, which carries out state regulation in the fields of electronic communications, radio frequency spectrum and the provision of postal services (NСEС), the main functions of the regulator are given. The main directions of state regulation of the market of electronic communication services in Ukraine are considered. It is substantiated that the trends towards liberalization in the field of electronic communications are related to global processes and opportunities that regulatory bodies face as services expand, platforms and network operators converge. It was noted that responding to market behavior and the growing need to ensure the safety of critical infrastructure and protect consumer rights determines the use of appropriate regulatory tools, the choice and adoption of which is complicated for the industry regulator in the modern convergent environment due to military actions. The corresponding institutional structure is described. It was concluded that the institutional structure in the field of electronic communications is complex, it includes relations of industry regulation between the state and international institutions, relations between the industry regulator and the antimonopoly authority, during the years of independence, the regulatory system in the field of electronic communications of Ukraine has gone through many stages and, accordingly the object of regulation changed (electrical communications, telecommunications, electronic communications). In conclusion, it is stated that a certain dualism of the need for state regulation can be traced due to the inefficient functioning of market mechanisms, which, in turn, is due to the lack of the necessary institutional structure that would fully satisfy the needs of the national economy in wartime. It is emphasized that usually the state regulation of electronic communications is aimed at ensuring a competitive market structure in order to achieve advantages from such a structure, from the point of view of the consumer, lower tariffs, better quality and an expanded range of services, and from the point of view of the state and business entities – to achieve maximum market growth with an increase in volume, lower costs, development of new services. However, in wartime, aspects of security, preservation of infrastructure and protection against cyberattacks come to the fore. It was concluded that in the field of electronic communications, in the presence of significant network effects, important areas of state regulation appear in wartime, which are related to standardization and compatibility, which shape the nature of innovation and price competition, as well as ensuring the stable functioning of networks after shelling of critical infrastructure. In the absence of compatibility of security and market aspects, the benefits for consumers and the provision of competition in the relevant market are reduced, as well as the fulfillment of social functions historically inherent in the communications industry is impossible.