Political, Economic, Social And Technological Research Articles

Study on Overseas Expansion Strategies for Small and Medium-Sized Korean Construction Companies Using PEST Analysis

The purpose of this study is to research overseas expansion strategies for small and medium-sized construction companies(SMCCs) in South Korea. The research methodology employs PEST (Political, Economic, Social, and Technological) analysis within the construction industry. Findings suggest increased investment in research and development, adoption of eco-friendly technologies, and localization strategies. By enhancing competitiveness through advanced technology adoption and strengthening sustainable practices aligned with global standards, firms can mitigate political and economic risks. Policy implications include collaboration with government and relevant agencies to support Official Development Assistance (ODA) projects, provide financial assistance, manage risks, and establish integrated information platforms. Moreover, enhancing capabilities through education and consulting programs in technology, law, finance, and risk management prepares firms for international expansion. This study offers specific solutions to Korean small and medium-sized construction companies, emphasizing enhanced policy support to successfully pursue expansion and growth opportunities in the global market.

Study on the digital transformation path of traditional media companies in the context of the Internet

In the background of the Internet, traditional media companies are facing very serious challenges. This paper firstly gave a brief introduction to the development of traditional media, pointed out the necessity of digital transformation of traditional media companies, and analyzed Phoenix Media using political, economic, social and technological (PEST) analysis and strength, weaknesses, opportunity, and threat (SWOT) analysis. Moreover, the current development of the company was analyzed, and its digital transformation path was elaborated. Finally, the existing problems of the company were pointed out, and some suggestions were given. This study provides a reference for traditional media companies to carry out digital transformation.

Macao's academic book publishing industry: A SWOT and PEST analysis

AbstractMacao's academic book publishing industry has a rich history and has grown significantly over the past two decades. This study employs a semi‐structured in‐depth interview to evaluate the current and prospective state of Macao's academic book publishing industry. The SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and the PEST (Political, Economic, Social, and Technological) analysis are used in this study. The strengths of Macao's academic book publishing industry include that requesting an ISBN in Macao is easy and quick under the principle of ‘One Country, Two Systems’ and financial support from the Macao SAR government. However, the industry faces several weaknesses, including an underdeveloped cultural industry, a small seller market and a talent shortage, and less copyright output. Opportunities for the industry exist through constructing a Culture‐based Bay Area in the Guangdong–Hong Kong–Macao Greater Bay Area and developing an international hub for digital trade in the Guangdong–Macao In‐Depth Cooperation Zone–Hengqin. However, Macao's academic book publishing industry is threatened by emerging Internet technologies, such as augmented reality, the metaverse, and ChatGPT. This paper also proposes strategies for future practice, such as taking the initiative to encourage a group of top‐tier publishers to establish branches in Macao and improve publications’ cultural elements. The findings of this study provide valuable insights into the strategic management of Macao's academic book publishing industry and will be of interest to publishers, academic researchers, and policymakers.

DAY NRLM scheme and its impact on women empowerment: a case of Morigaon district of Assam, India

PurposeThis study aims to examine the political, economic, social and technological (PEST) factors of women empowerment in the context of rural development under the initiatives of the National Rural Livelihood Mission (NRLM).Design/methodology/approachThe unit of analysis for this study is 459 samples. Non-probability sampling technique has been used for this study. Schedule/questionnaires have been circulated among the women in each block cluster. Frequencies have been used to represent the data against each statement. Non-parametric chi-square test has been used to examine the relationship between empowerment and political, economic, social, technological factors and interpersonal skills.FindingsStatistical analysis shows that the Deendayal Antayodaya Yojana (DAY)-NRLM scheme has brought significant changes and development to women in political, social, economic and technological areas. It was observed that women are economically empowered and contribute to the economic upliftment of the family. Most of the respondents strongly felt that after being associated with DAY-NRLM, they were empowered to contribute efficiently to the social development process and activities.Research limitations/implicationsThe findings of this study highlight the impact of DAY-NRLM implementation at block levels of a district in India. Subsequent research may be carried to measure the effectiveness of the capacity-building program conducted under the banner of DAY-NRLM.Practical implicationsWomen empowerment is not limited to awareness, whereas it needs a complete set of initiatives backed with support systems. Few critical interventions could be building strong networks, enhancing financial management, encouraging the spirit of entrepreneurship among self-help group workers, providing easy access to credit, mentoring, handholding, continuous monitoring and evaluation.Social implicationsThis study focuses on the impact of the DAY-NRLM scheme on women’s empowerment in the Morigaon district. The inferences from the study throw light on the empowerment of women vis-à-vis political, economic, social and technological factors.Originality/valueThis study is a primary study conducted in the Morigaon District of Assam. This is a new line of policy research that approaches the women empowerment with the PEST parameters.

Overcoming Barriers to the Adoption of Recycled Construction Materials: A Comprehensive PEST Analysis and Tailored Strategies

In the face of rampant urbanization, industrialization, and continuous advancements in construction technology, sustainable development in the construction industry becomes increasingly imperative. A promising avenue toward this sustainability is through the adoption of Recycled Construction Materials (RCMs), yet their widespread use remains complex and filled with numerous barriers, signifying an urgent need for the systematic investigation of these obstacles. This study uniquely employs a qualitative PEST (Political, Economic, Social, and Technological) analysis to illuminate the intricate impediments to the adoption and promotion of RCMs. Data for this study were collected through in-depth, semi-structured interviews with a variety of experts in the field. The research identifies substantial barriers within each PEST category. Political factors include regulatory biases and limited funding for RCM research, while economic factors involve the higher costs and limited availability of RCMs. Social aspects revolve around public awareness, safety concerns, and resistance to change within the industry. Technological issues focus on the development, performance, and compatibility of RCMs, the slow innovation pace, and the absence of standardized guidelines. Additionally, this study stands out by suggesting strategic, context-specific recommendations aimed at surmounting these obstacles and further fostering the adoption of RCMs. The solutions proposed are intimately linked to the challenges identified, highlighting the practical value and relevance of this study for guiding future research and policy development in the face of ongoing advancements in construction technology.

Decarbonization of natural gas systems in the EU – Costs, barriers, and constraints of hydrogen production with a case study in Portugal

The European Union (EU) imports a large amount of natural gas, and the injection of renewable hydrogen (H2) into the natural gas systems could help decarbonize the sector. The new geopolitical and energy market situation demands urgent actions in the clean energy transition and energy independence from fossil fuels. This paper aims to investigate techno-economic analysis, barriers, and constraints in the EU policies/frameworks that affect natural gas decarbonization. First, the study examines the levelized cost of hydrogen production (LCOH). The LCOH is evaluated for blue and grey hydrogen, i.e., Steam Methane Reforming (SMR) natural gas as the feedstock, with and without carbon capture, and green hydrogen (three type electrolyzers with electricity from the grid, solar, and wind) for the years 2020, 2030, and 2050. Second, the study evaluates the current policies and framework based on a SWOT (Strength, Weakness, Opportunities, and Weakness) analysis, which includes a PEST (Political, Economic, Social, and Technological) macro-economic factor assessment with a case study in Portugal. The results show that the cheapest production costs continue to be dominated by grey hydrogen (1.33 €/kg.H2) and blue hydrogen (1.68 €/kg.H2) in comparison to green hydrogen (4.65 €/kg.H2 and 3.54 €/kg.H2) from grid electricity and solar power in the PEM - Polymer Electrolyte Membrane for the year 2020, respectively. The costs are expected to decrease to 4.03 €/kg.H2 (grid-electricity) and 2.49 €/kg.H2 (solar – electricity) in 2030. The LCOH of the green grid-electricity and solar/wind-powered Alkaline Electrolyzer (ALK) and Solid Oxide Electrolyzer Cell (SOEC) are also expected to decrease in the time-span from 2020 to 2050. A sensitivity analysis shows that investments costs, electricity price, the efficiency of electrolyzers, and carbon tax (for SMR) could play a key role in reducing LCOH, thereby making the economic competitiveness of hydrogen production. The key barriers are costs, amendments in rules/regulations, institutions and market creation, public perception, provisions of incentives, and constraints in creating market demand.

Investigating small, medium and micro-scale enterprises strategic planning techniques in Johannesburg central business district post-COVID-19 lockdown

Background: Strategic planning assists organisations to capitalise on opportunities that arise and to minimise the threats posed by unstable market environments. Apart from the track record of poor performance amongst some small, medium and micro-scale enterprises (SMMEs) in South Africa, COVID-19 pandemic severely affected more than 55 000 South African SMMEs in March 2020 after the lockdown imposed by the government.Aim: This research study sought to investigate strategic planning techniques or tools implemented by SMMEs post-COVID-19 lockdown in Johannesburg Central Business District (CBD).Setting: The study was conducted at small, medium and micro-enterprises in Johannesburg Central Business District.Methods: A quantitative study was conducted by using an online E-Survey Hero which was distributed to the sample of 169 respondents who were SMME owners and managers in Johannesburg CBD.Results: The results revealed that most SMMEs owners had knowledge on the strategic planning techniques such as the strengths, weaknesses, opportunities and threats (SWOT) analysis, the political, economic, social and technological (PEST) analysis, financial analysis of the competitors and financial analysis of their own business.Conclusion: Small, medium and micro-scale enterprises should take advantage of technology and invest in key skills needed for more effective strategic planning.

Empirical examination of societal, financial and technology-related challenges amid COVID-19 in service supply chains: evidence from emerging market

PurposeThis paper reports an empirical examination of the societal, financial and technology-related challenges amid the ongoing pandemic (COVID-19) in the service supply chain network.Design/methodology/approachA combination of qualitative approach (for items generation pertinent to the constructs involved) and quantitative approach (self-administered questionnaires from the top and middle management of the sampled companies) was used for data collection. In total, 272 complete responses were received and analyzed through structural equation modeling.FindingsThe results provided empirical evidence that social and physical distancing, travel restrictions, work from home and lockdown practices have two conflicting effects: On one hand, these practices have contributed to the reduction of economic activities, including the low economic outlook, low productivity, high unemployment, poverty, fall in customer demands, dissatisfaction and mental health, that ultimately impacts rise financial and societal issues. On the other hand, the results revealed an insignificant influence of COVID-19 on creating technology-related challenges in the service sector. It shows that the organizations are doing well in combating the technology-related challenges amidst the current pandemic.Research limitations/implicationsFindings of the inquiry recommend implications for the services industry to harmonize a comprehensive strategy and revisit the global norms in sustainable supply chain management activities that have been the backdrop in their operations for a long time.Practical implicationsFindings of the inquiry recommend implications for the services industry to harmonize a comprehensive strategy and revisit the global norms in supply chain management activities that have been the backdrop in their operations for a long time.Originality/valuePrior studies in the context of the COVID-19 outbreak and its implications have given more attention to the exploratory and theoretical discussion than to empirical evidence. This paper contributes to filling this knowledge gap by empirically exploring the societal, financial and technology-related challenges created by COVID-19. The analysis in this paper covers three dimensions of the PEST model, namely economic, societal and technological factors. This study also helps in laying out a platform for investigating the PEST (political, economic, social and technological) model for guiding the services industry in strategic decision-making in a new era due to COVID-19.

A network-based evolutionary analysis of the diffusion of cleaner energy substitution in enterprises: The roles of PEST factors

In countries highly dependent on coal and oil, the substitution of relatively cleaner energy for fossil fuels in industrial and residential sectors (cleaner energy substitution, or CES) is conducive to technology advancement and pollution abatement. Since CES is a process met with resistance by a portion of enterprises in China, this study will investigate the roles of external factors by simulating CES diffusion in enterprise networks. The PEST (political, economic, social, and technological factors) analysis framework, referencing corporation strategy management, is employed to select potential external factors of CES diffusion. The results show that factors will affect the diffusion of CES by changing the payoffs of different enterprises. Reducing the costs of cleaner energy and related equipment will promote diffusion. Besides, improving consumer preferences for green products, consolidating responses to public complaints on pollution and promoting information exchange among enterprises are beneficial to diffusion. It is novel that this paper demonstrates that diffusion will be hindered by supply interruptions of cleaner energy, which means that stable supply after a wide range of adoption is important. Focusing on PEST factors, this study introduces a useful framework to investigate the potential factors of enterprises’ green decisions and behaviours and offers fresh insights into promoting CES adoption and energy transition in developing countries.

The higher education environment driving academic library strategy: A political, economic, social and technological (PEST) analysis

The higher education environment is a key operating context for academic libraries and many political, economic, social and technological (PEST) factors shape it. This article examines these factors, their influence on higher education during the past two decades and their implications for libraries. Library literature tends to cover the higher education environment peripherally despite its influence. Using the established PEST analysis methodology, the article foregrounds higher education throughout and finds major ongoing changes across all four dimensions globally, creating challenges and opportunities for libraries. The conclusion notes briefly some possible future implications of the global coronavirus crisis and highlights the importance for library operations and strategy of monitoring and understanding developments in higher education.

Competitive Strategies of Islamic Banks: A Case of Pakistan

The main aim of this study is to examine the competitive strategies of Islamic banks in Pakistan that they should adapt to compete in the banking industry. To achieve the aim, the authors conduct a study which is based on a theoretical framework. We examine the current situation of Islamic banking by investigating the current external environment using PEST (Political, Economic, Social and Technological) analysis, the industrial environment using Porter's Five Forces Model and internal environment using resource and competency analysis based on SWOT frame (Strengths, Weaknesses, Opportunities and Threats). The authors find that Islamic banks should employ differentiation strategy aimed at achieving a competitive advantage by offering better services and products. For achieving competitive position Islamic banks should adopt marketing tactics for attaining large market share, and conduct training workshops to deliver knowledge about Islamic banking to employees and also create awareness about the importance of interest-free banking in general public. This research paper is the first to examine the competitive strategies of Islamic banks in Pakistan the results of this study are valuable to Islamic Banks in Pakistan and the industry as it exposes the gaps in their strategy, which is addressed in time will help deter competition. They are also capable of gauging the success of the banks in employing specific competitive strategies. Keywords: Pakistan. Islamic banks, Competitive strategies, Differentiation, SWOT, PEST. DOI : 10.7176/JPCR/46-02 Publication date: November 30 th 2019

Research in business service purchasing: current status and directions for the future

This paper provides a systematic literature review and a future research agenda on the topic of purchasing of business services (BuSe). BuSe purchasing has increasingly gained in importance during the past years. It has established itself as a relevant sub-discipline in purchasing and supply management. This “state of research” paper identifies the main authors, relevant topics and practical implications as well as upcoming developments. For this purpose, 118 publications were collected and analyzed. While early research on BuSe purchasing was strongly influenced by the American marketing literature, more recent papers are also published by European authors and institutions coming from the core of the purchasing and supply management discipline. In general, the literature lacks in theoretical foundation and longitudinal methods while assuming high generalizability. Based on the analyses and additional discussions within the research team, directions for future research are identified at a political, economic, social and technological (PEST) level. The following trends for service purchasing were elaborated: (1) “Glocalisation” and near-shoring, (2) sustainability and corporate social responsibility (CSR), (3) internal and external collaboration, (4) value-driven contract and payment systems, (5) hybrid products and servitization, and (6) big data analytics, artificial intelligence and process automation.

Identification of political, legal, economic, social and technological factors forming opportunities and threats for people with moderate intellectual disabilities

Abstract Introduction: The aim of the work was to determine opportunities and threats for people with moderate intellectual disabilities (MID) in the context of political, economic, social and technological (PEST) factors. Materials and methods: This work involved the method of the Community Action Board (CAB), which is a part of the RPAR (Rapid Policy Assessment and Response) methodology, for the in-depth legal analysis. The CAB was used at the second stage of the SWOT analysis (strengths, weaknesses, opportunities, threats) – the assessment of selected PEST factors as opportunities and threats for people with MID. Results: The most important threats included the implementation of international standards of integration of people with MID occurs without proper social and housing preparation; the lack of interdisciplinary activities by the state in creating public awareness about disabilities; the lack of help to parents at the time of birth of a child with MID. The most important opportunities included creating Internet-based platforms for information exchange, the ability of early support by all educational institutions, increasing access to the assistants of a disabled person, sheltered work, and protected flats. Conclusions: 1. Unprepared inclusive education, a lack of sheltered employment, and a lack of personal or housing support, all cause social exclusion for people with MID. 2. A low level of awareness in Polish society of disabilities prevents effective social inclusion of people with MID. 3. The lack of a legal framework for supporting parents at the time of birth of a child with MID makes it difficult for the child to receive support. 4. The lack of online platforms for information exchange about access to services for people with MID limits access to such services.

A framework for selecting the location of very large photovoltaic solar power plants on a global/supergrid

One of the important optimization applications (minimization and maximization) is the power grid systems. National electricity grids should be interconnected to develop larger regional grids (supergrids), and further integrated to build up a worldwide grid (global grid) for minimizing consumption of natural resources and maximizing economical useful life, recycling rate, and effective usage of natural resources. These supergrids and global grid concepts can only be developed through detailed and organized supportive research studies. This research study aims to find, define, identify, describe and select location selection factors of very large photovoltaic solar power plant investments on a global grid and supergrid concepts. Grey systems theory, fuzzy (Type-1 and 2) theories, Mamdani’s type fuzzy rule-based system, Interpretive Structural Modelling (ISM), Impact Matrix Cross-Reference Multiplication Applied to a Classification (MICMAC) tool, and Political, Economic, Social and Technological (PEST) framework and its extensions (SLEPT, PESTEL, PESTLE, STEEPLE, STEEPLED, DESTEP, STEER) are concurrently used in this study. Eleven (11) criteria are presented for preliminary screening (i.e. C1: global horizontal irradiation (GHI), C2: governments supergrid integration policy, C3: supergrid business climate and conditions, C4: High Voltage Direct Current (HVDC) and High Voltage Alternating Current (HVAC) electrification grid infrastructure, C5: land use, allocation and availability, C6: geological conditions, C7: political, war, terror & security, C8: topographical conditions, C9: climatic conditions, C10: water availability conditions, C11: natural disaster/hazard conditions), and 191 factors are presented for pre-feasibility investment stages. Findings can directly be used or taken as a basis for further analysis by researchers and practitioners.

Searching for an optimal level of prefabrication in construction: An analytical framework

Many countries or regions, in recent years, show a rising interest in prefabrication as a “cleaner” production strategy to meet their enormous construction demand, e.g. for housing and infrastructure. Along with this trend is the observation that many governments tend to set forth a high level of prefabrication as a part of their ambitious construction plan. This paper argues that unnecessarily a higher level of prefabrication is better and develops an analytical framework for questing the optimal level of prefabrication adoption in a certain PEST (political, economic, social and technological) background. This framework contains thirteen PEST factors affecting the prefabrication adoption, including policy, supply, labor, social attitude, user acceptance, and so on. These factors in combination will determine the optimal prefabrication adoption level from 0 to 4, which was defined by Gibb 2001 to represent the range from entire cast-in-situ construction to complete prefabricated building, respectively. The framework was substantiated by using Hong Kong's prominent offshore prefabrication construction as a case. It was identified that Levels 2 and 3 are the optimal level of prefabrication adoption subject to the current PEST background in Hong Kong. This paper helps to clarify the prevailing misconception that “the higher the prefabrication level, the better”. The developed framework can be used by other economies to devise their proper prefabrication roadmaps.

Distillation contra pervaporation: Comprehensive investigation of isobutanol-water separation

Abstract Different research works demonstrate that the pervaporation can replace the distillation or deliver better solutions. It should be, however, accepted with criticism. In our case study, isobutanol-water separation is studied since it is increasingly important in the field of biofuels and process wastewater treatment. There are many options for the separation and they differ in their efficiency, economic features, robustness, development level and environmental impact. Five separation structures are investigated using distillation, both organophilic and hydrophilic pervaporations and hybrid separation units consisting of distillation and pervaporation including heat integrated solutions. The different alternatives are modelled in professional flowsheeting environment. Life cycle assessment, energy evaluation and Multi-Criteria Decision Analysis (MCDA) based on PEST (Political, Economic, Social, and Technological) analysis are completed to evaluate and compare the five alternatives. The feed stream to be separated has the composition of 7 wt% isobutanol 93 wt% water that corresponds to the mixture of the phase split due to the limited solubility. Two product purities are considered, 98.8 and 99.9 wt%. In case of distillation processes, heat integration is also considered, that is, the feed is preheated with its bottom flow. Heat integration significantly improves the efficiency of the distillation and makes it for practically a competitive alternative. The best efficiency can be obtained with heat integrated hybrid separation, that is, the combination of distillation and pervaporation. The pure pervaporation that is the combination of organophilic and hydrophilic pervaporation can be efficient only at sloppy product purities because of the modest separation factor of the organophilic pervaporation membranes. In case of sharp separations, the organophilic pervaporation can be an equally applicable solution as the azeotropic distillation for isobutanol-water separation.

Smart city networks' governance: The Spanish smart city network case study

The governance of smart city networks emerges as a new research area intersecting smart governance and public networks studies. This work aims to contribute to the literature on smart cities governance by studying councillor's governance in complex networks and on network performance. To carry out this analysis, the Spanish Network of Smart Cities (RECI), one of the first of its kind and an international reference for city networks, is reviewed as a case study, with the main objective of establishing a theory on its global innovation capacity and operations, together with the local level spurring influenced on its members. A PEST (Political, Economic, Social and Technological) analysis was carried out in order to assess the impact of the smart city network both at local, national and international level. This research was completed with a consultation carried out among some of RECI's municipalities. The analysis of the results shows how RECI can be considered an example of a well organised network with quantifiable savings for its members, capable of configuring future policies in local administration, necessarily related to efficiency, digitalization and citizen-centricity and with key topics to build the future. The study also suggests recommendations oriented to potential improvements that smart city networks could undertake.

The Cross-Culture Management of Chinese Enterprises in Poland Under the Belt and Road Initiative—Based on PEST Model

“The Belt and Road Initiative” not only provides great opportunities but also poses enormous challenges to Chinese enterprises for further development. Along the Belt and the Road, there are different countries with unique culture characteristics, which will be the difficult challenges Chinese enterprises have to face in the overseas investment. The present study will combine PEST (Political, Economic, Social and Technological) model with Hofstede’s culture dimensions as the theoretical basis for analyzing the potential opportunities and challenges Chinese enterprises tend to confront in Poland. Based on a detailed analysis of the opportunities and challenges, this writing proposes three tentative cross-culture management strategies: (1) Investigating the local markets and identifying the culture differences; (2) Cultivating intercultural communication competence of the cross-culture employees; (3) Acculturating to the local society and making innovation based on culture fusion, which would be referential for Chinese enterprises to seek investment opportunities in the countries along the Belt and the Road.

The European Insurance Industry: A PEST Analysis

The insurance industry plays an important role for European economic stability and the threats and opportunities it faces should be carefully determined. In this paper we highlight the main challenges by using a Political, Economic, Social and Technological (PEST) analysis. This work applies conventional actuarial thought on this area by focusing strictly on the European sector.

Supporting Participatory Practices in Ship Design and Construction – Challenges and Opportunities

The maritime shipping industry is a safety-critical domain where onboard work organization continues to evolve with advancing technologies. Recent research has revealed that altering operational conditions and task demands are not supported or optimized by typical onboard working environments. The application of ergonomics and participatory design practices in ship design and construction is generally not well supported by regulation or implemented by designers. The purpose of this paper is to systematically analyse the potential of practical application of ergonomics and participatory design practices in ship design and construction. SWOT (strengths, weaknesses, opportunities and threats) and PEST (political, economic, social and technological) analyses were used to investigate the internal, and of particular interest, the external macro-environmental factors of the shipping industry which influence the success of ergonomics applications in ship development processes.