Practical Business Research Articles

Insight into soft binary piecewise lambda operation: a new operation for soft sets

AbstractThe notion of soft set operations is one of the key concept for soft set theory as the theory has been progressing, both theoretically and practically, based on this notion. As proposing new soft set operations, deriving their algebraic properties, and studying the algebraic structure of soft sets from the perspective of soft set operations offer a comprehensive understanding of their applications as well as the appreciation of how soft set algebra can be applied to classical and nonclassical logic, in this study, a new soft set operation, called the “soft binary piecewise lambda operation" is proposed. Since one of the the main objective of abstract algebra is to analyze the properties of the operations defined on a set to classify the algebraic structures, the operation’s full properties and its distributions over other soft set operations are investigated to reveal which algebraic structures the operation forms individually, and together with other soft set operations in the collection of soft sets over the universe. It is showed that the operation forms a noncommutative semigroup and a right-left system, besides semi-rings and near-semi-rings together with certain types of soft set operations under certain conditions in the collection of soft sets over the universe. Since such in-depth analyses advance our knowledge of the applications of soft sets over a range of field, this novel operation may serve as an inspiration to create new perspectives for addressing issues related to parametric data, soft set-based cryptography, or decision-making techniques in practical settings, business, and technology.

Multiobjective Route Optimization for Multimodal Cold Chain Networks Considering Carbon Emissions and Food Waste

The cold chain logistics industry faces significant challenges in terms of transportation costs and carbon emissions. It is imperative to plan multimodal transportation routes efficiently to address these issues, minimize food waste, and reduce carbon emissions. This paper focuses on four key optimization objectives for multimodal cold chain transport: minimizing total transportation time, costs, carbon emissions, and food waste. To tackle these objectives, we propose a high-dimensional multiobjective route optimization model for multimodal cold chain networks. Our approach involves the development of a multiobjective evolutionary algorithm, utilizing Monte Carlo simulation and a one-by-one selection strategy. We evaluate the proposed algorithm’s performance by analyzing various convergence and distribution indicators. The average values for the minimum total transportation time, transportation cost, carbon emission cost, and cargo loss rate derived from the proposed algorithm ultimately converge to 6721.7, 5184.4, 301.5, and 0.21, respectively, demonstrating the effectiveness of the algorithmic solution. Additionally, we benchmark our algorithm against the existing literature to showcase its efficiency in solving high-dimensional multi-objective route optimization problems. Furthermore, we investigate the impact of different parameters, such as carbon tax rates, temperature, and cargo activation energy, on carbon emissions, and food waste. Moreover, we conduct a real-world case study to apply our approach to solving a practical business problem related to multimodal cold chain transportation. The insights gained from this research offer valuable decision-making support for multimodal carriers in developing low-carbon and environmentally friendly transportation strategies to efficiently transport perishable goods.

Foreign Language Anxiety Phenomenon and Coping Strategies among Students in Business English Audio-Visual and Speaking Courses

As a course that emphasizes practical international business communication skills, Business English Audiovisual Speaking requires students not only to master language skills, but also to be able to apply them flexibly in a real business environment. However, this highly practical and professional requirement often causes students to encounter difficulties in language comprehension, expression and failure to keep up with the progress in the learning process, thus triggering foreign language anxiety. Such anxiety not only affects students' learning efficiency, but also may lead them to fear negative evaluations and even refuse to communicate in a second language when necessary. Based on the theory of foreign language anxiety, this study takes students majoring in Business English in College G as the research object and analyzes in depth the phenomenon of students' foreign language anxiety in Business English Audiovisual Speaking course. It is found that students generally have moderate to severe foreign language and listening anxiety in this course. To this end, targeted coping strategies were proposed, including students' self-regulation strategies and teachers' effective teaching methods. These strategies aim to help students alleviate their foreign language anxiety, thereby improving their language learning, and ultimately cultivating high-quality talents who are competent in the international business environment. Through this study, we hope to provide an empirical basis for the field of business English education and contribute to the reduction of students' foreign language anxiety and the improvement of teaching quality.

Bridging Theory and Practice: Applying Vrio and Pest to Foster Digital Transformation in Kadin Bandung City Msmes

ABSTRACT The data indicates that approximately 70% of MSMEs in Indonesia operate within the food and beverage sector, with 99.5% falling under the MSME classification. Despite being perceived as having numerous advantages, MSMEs face several limitations that hinder their ability to enhance competitiveness and growth. The PKM program is designed to equip participants with relevant knowledge and skills, aiming to improve product quality, expand market access, and implement effective digital strategies. The approach employed involved direct counseling and mentoring sessions for 20 women-led MSMEs supported by KADIN Bandung City. The most notable improvement was observed in participants' understanding of the benefits of digital transformation, along with a strong motivation to apply it within their business practices. Overall, the counseling and mentoring activities demonstrated their effectiveness in enhancing participants' comprehension and motivation to implement the three concepts presented in a practical business context. Keywords: PEST Analysis, VRIO Analysis, Digital Transformation

Effects of pulsed magnetic field intensity on the freezing rate and heat loads reduction of harvested mango and tomato

PurposeFresh fruits and vegetables (FV) are crucial global food resources, but the presence of heat loads during harvest adversely impacts their shelf life. While freezing technology provides an effective means of removing heat loads, it is an energy-intensive process and may consequently prove too costly for practical business viability. The growing interest in utilizing magnetic field (MF) technology during the freezing of fresh FV enhances the freezing rate and rapidly removes the heat loads of products.Design/methodology/approachIn the present study, pulsed magnetic field (PMF) pretreatment employing specific field strengths (9 T, 14 T and 20 T) was examined as a preliminary step before freezing mango and tomato and compared to the conventional freezing method (untreated) at − 18 °C.FindingsPMF pretreatment prior to freezing demonstrated a noteworthy enhancement in freezing rate by around 10 and 12% when compared with the conventional (untreated) freezing, which exhibited freezing rates of −0.08 °C/min and −1.10 °C/min for mango and tomato, respectively. The PMF pretreatment (at 20 T) provided a higher freezing rate (at p = 0.05) than the conventional freezing method reduced heat loads amounting to 1.1 × 107 J/kg oC and 2.9 × 106 J/kg oC, significantly (at p = 0.05) from mango and tomato, respectively. These reductions in heat loads were approximately more than 5% of the calculated heat loads removed during conventional freezing.Research limitations/implicationsMango and tomato samples were only tested; the results may lack generalizability. Therefore, researchers are encouraged to test for other products for further studies.Practical implicationsThe paper includes implications for the development of a rapid freezing technique, the development of “pulsed magnetic field” and for eliminating the problem associated with conventional (slow) freezing.Originality/valueThe study holds significance for the production of postharvest freezing technology, providing insightful information on the PMF-assisted freezing of cellular foods.

Pink tax: Challenges faced by Indonesian women as consumers of personal care products

The phenomenon of pink tax is a gender inequality issue that discriminates women in the purchase of goods or services by producers. The objective of this research is to identify the pink tax phenomenon in Indonesia, encompassing its existence, influencing factors, and the urgency of the related issue. Additionally, this study aims to analyse the role of the government through policies regarding the emergence of the pink tax phenomenon. Policies closely associated with the pink tax include Law Number 8 of 1999 on Consumer Protection, Law Number 5 of 1999 on the Prohibition of Monopoly Practices and Unfair Business Competition, and Law Number 7 of 2014 on Trade. The research methodology employed in this study is qualitative, involving literature review, documentary analysis, and interviews. The findings of this research indicate that the pink tax exists in Indonesia, yet awareness of this issue is not evenly distributed across all layers of society. While some institutions have acknowledged the existence of this problem, there have been no concrete steps taken to reduce or address this gender-based price discrimination. Furthermore, current policies are deemed inadequate in addressing gender-based price discrimination practices and protect women’s consumer. This is attributed to the fact that gender equality elements are not fully encompassed in the existing policies.

Sustainable Business Practices through IoT: Energy Efficiency and Cost Reductions

This is the age of industrial transformation that is being driven by the Internet of Things (IoT). It offers very unique chance to maximize productivity excellence and foster economic expansion while having the opportunity to meet environmental concerns. This comprehensive study looks into not only the IoT contribution to energy efficiency and cost reduction but also potential use in areas of administrative operations with the same objective of energy efficiency and cost reduction. With the aid of rigorous mixed methods research that brings together qualitative data from multiple industries, against the backdrop of carefully selected case studies showing the actual benefits of IoT installations, the paper seeks to give a clear picture of the practical advantages of IoT-powered organizations. The research presents information regarding how IoT technologies function to optimize energy applications, enhance processes, and cut down waste through their ability to collect data in real-time and manage systems. Besides, it will analyze the problems companies may run into while adding IoT solutions, such as technological complexity, initial expenditure, and security matters. On the other hand, the research also designs the tactical moves that the companies can opt for as an alternative to completely eradicate these barriers and successfully deploy the IoT technology. Through the systematic study of the role of the Internet of Things on green business practices policymakers, business leaders, and technologists will gain valuable insights which can be applied in whatever levels they are working from. This policy is based on a systematic approach to IoT adoption, which, inter alia, suggests the organization of the project, statistical analysis, and improvement of the present situation to get the best economic and environmental state of affairs. This will further the comprehension of the power of IoT technology in both developing sustainability and increasing profitability, all indications that it is not just a technological advantage but rather a basic instrument for the future sustainability of business practices.

A unified theory of decentralized insurance

Decentralized insurance can be used to describe risk sharing mechanisms under which participants trade risks among each other as opposed to passing risks mostly to an insurer in traditional centralized insurance. There are a wide range of decentralized practices in all kinds of forms developed around the world, including online mutual aid in East Asia, takaful in the Middle East, peer-to-peer insurance in the West, international catastrophe risk pooling by African, Caribbean and Central America countries, etc. There is also a rich literature of risk sharing in academia that offers theoretical bases of other decentralized mechanisms. This work presents a unified mathematical framework to describe the commonalities and the relationships of all these seemingly different business in practice and theoretical models in academia. Such a framework provides a fertile ground for the comparison of existing practices and the design and engineering of hybrid and innovative models.

Financial and Business Literacy Among Urology Residents: Is this a Problem and How Can We Better Prepare Residents for their Careers?

Although financial wellness is a predictor of physician burnout, we are yet to optimize financial education or wellness of Urology trainees. We assessed existing studies, compared them to those of other specialties, and discussed resources and methods to address this deficiency. Urology residents tend to be less fiscally savvy (carry significant debt, and lack retirement savings or disability insurance), and 90% of trainees and young Urologists do not feel comfortable with the business of practice, including skills like coding and billing, contract negotiation, and self-value assessment. Financial and business literacy are deficiencies of Urology training, as in other specialties. Eventually, the goal should be universal adoption of a formal curriculum that is graded in nature. In the interim, we need to propose and endorse adoption of a formal curriculum, and we should support trainees by promoting a space for easily accessible and transparent information regarding best practices in personal finance and the business of healthcare.

From code to coin: Unravelling the practical business impact of algorithmic pricing

This paper examines the impact of algorithmic pricing on company value and presents the results of 31 expert interviews in various industries. The focus is on nine hypotheses, including the efficiency of automation, segmentation and value-based pricing, efficient resource allocation, perception of fairness, price transparency and uncertainty, the use of personal data and price competition. The surveys show that algorithmic pricing has considerable potential for efficiency gains through automation, particularly in terms of revenue growth. The potential for cost savings, however, varies from sector to sector. Segmentation and value-based pricing are proving to be feasible, but their implementation requires clear justification and economic rationale. Efficient resource allocation through dynamic pricing shows potential, especially in industry-specific scenarios. The perception of unfairness can have a negative impact, however, and personalised pricing risks alienating customers and reducing business value. Price transparency and uncertainty have a mixed effect, as customers often place more value on the transparency of alternative offers than on the company’s pricing process. The use of personal data poses a low risk to company value if it is transparent and mutually beneficial. The potential intensification of competition through algorithmic pricing depends on the market structure and the company’s objectives; however, algorithmic pricing can be used as an instrument to reduce price competition and increase company value. Overall, the results make it clear that the integration of algorithmic pricing strategies must be carefully and ethically designed in order to sustainably increase company value.

Reducing Loss Production Opportunity (LPO) at PT Pertamina EP Donggi Matindok field

Pertamina EP Donggi Matindok Field (PEP DMF) in Regional 4 significantly contributes to production and profit, accounting for 1.95% of total SHU production and 2.46% of net profit by the third quarter of 2023. However, PEP DMF faces challenges with Loss Production Opportunity (LPO), which denotes the gap between potential and actual production, impacting both production performance and revenue. The research aims to tackle the increase in Loss Productivity Opportunity (PPO) by identifying the main problems, analyzing contributing factors, determining root causes, and developing strategies to mitigate LPO, particularly focusing on the 2023 increase. Through a structured approach, the study provides a comprehensive analysis of the issues leading to increased LPO and offers practical business solutions, contributing valuable insights that can be applied to similar industrial challenges. The root causes were pinpointed using the Failure Mode and Effects Analysis (FMEA) and Pareto Diagram methods, identifying primary issues as unreliable IGBT components, the absence of certified engineers, and discontinued spare parts for the VSD Booster Compressor. The recommended solution, determined through Kepner-Tregoe Decision Analysis, is to replace a new brand that has domestic engineers and its spare parts are still being produced.

Barriers to postgraduate education in primary dental care: a qualitative study

ObjectivesPostgraduate education for primary care dentists offers numerous benefits in terms of advancing clinical skills and career opportunities, culminating in improved treatment and patient outcomes. There is a strong desire amongst primary care dentists to enhance skills and provide contemporaneous evidence-based dentistry, accredited by higher educational qualifications. However, significant barriers hinder their pursuit of further training and career advancement. The aim of this study is to explore the barriers to undertaking formal postgraduate education for dental practitioners working in primary dental care. Exploration of these perceptions should help to identify further areas of study to help alleviate some of these obstacles, enabling more primary care dentists to access postgraduate education and improve patient care. MethodA qualitative study was undertaken through individual narrative interviews with primary care dental practitioners (n = 20) with varying levels of experience and located across the UK. All interviews were conducted using a study guide, transcribed and analysed thematically. ResultsThe participants indicated that there is a strong desire to undertake postgraduate study amongst primary care dental practitioners. Significant barriers were identified, with three major themes emerging:1.Personal Cost: Time constraints and accessibility, Financial Burden, Family Commitments.2.Business Viability: Business time constraints, Inability to use Enhanced Skills, Remuneration systems.3.Business Culture and Team Dynamics: Stage of Career, Current Practice Business Model, Leadership and Vision.These barriers appear to be multifaceted and interconnected, however participants also identified significant opportunities to address them. ConclusionStudy participants identified a range of personal and professional barriers to undertaking postgraduate dental education whilst working in primary dental care. Practitioners working within predominately NHS orientated practices perceived more professional barriers than those in private practice. The majority of participants indicated their preference for hybrid models of education which would work around clinical commitments. Further research and engagement with stakeholders should be undertaken to help reduce these barriers.

Accelerating Fintech optimization and cybersecurity: The role of segment routing and MPLS in service provider networks

This review paper explores the profound impact of advanced financial modeling techniques on strategic business planning and performance. The paper begins with an overview of the evolution of financial modeling, highlighting the importance of advanced techniques such as Monte Carlo simulations, real options analysis, and machine learning models. It delves into the role of technology, including artificial intelligence and big data analytics, in enhancing financial modeling capabilities. The discussion then shifts to how these advanced models support strategic business planning by providing deeper insights, improving risk management, and facilitating better decision-making. The paper also examines the challenges of implementing advanced financial modeling, including data quality issues and skill gaps, and offers practical business recommendations. Future trends in financial modeling, such as increased AI integration and the incorporation of ESG factors, are also explored. The review concludes by emphasizing the significant benefits of advanced financial modeling in driving strategic business decisions and improving overall business performance. Keywords: Advanced Financial Modeling, Strategic Business Planning, Monte Carlo Simulations, Machine Learning Models, Risk Management.

The Market Life of Japanese Literature in Postwar America: Knopf, Translation, and the Archives of Cultural Commerce

This article examines the aesthetic and economic forms of judgment that guided the Japanese literature translation program at the American publisher Alfred A. Knopf Inc. in the 1950s—1970s. During these years, the editor Harold Strauss coordinated Knopf’s ambitious translation program that made dozens of recently written Japanese novels available in English to an American audience. This article provides a fresh perspective on Knopf’s well-known Japanese literature translation program by understanding it to be an illuminating case study that reveals how the practical business of cultural commerce mixes aesthetic and economic modes of valuation, producing provocative connections that link what might otherwise seem to be the antagonistic realms of art and the market. Guided by documents held in the Knopf corporate archive, the article shows how the aesthetics of modern Japanese literature and the economics of publishing each encountered the other in the transactional territory of translation.

Pertanggungjawaban Hukum Peminjaman Nama Perusahaan Untuk Mengikuti Pengadaan Barang Dan Jasa Pemerintah

Introduction: The practice of using another company's name to participate in government procurement contracts is a common occurrence today. Although there are no explicit regulations prohibiting this practice, borrowing another company's name can be done due to affiliations between related companies or as an attempt to deceive the bidding organizers.Purposes of the Research: This research aims to examine and analyze the legitimacy of the practice of borrowing a company's name to participate in government procurement of goods and services, as well as the forms of accountability for breaches of contract in the implementation of such name borrowing in procurement processes.Methods of the Research: This research is a normative juridical research, using a descriptive analytical research type using primary, secondary and tertiary legal sources. The approach used is a statutory approach (Statute Approach), a conceptual approach (conceptual approach) and a case approach (Case Approach). The technique of collecting legal materials uses a literature study which is then analyzed qualitatively in order to answer the problems studied.Results of the Research: The research findings indicate that the practice of using another company's name in government procurement of goods and services violates various legal provisions, including Presidential Regulation No. 16 of 2018, Regulation of the Procurement Policy Agency (LKPP) No. 9 of 2019, as well as the Law on the Prohibition of Monopoly Practices and Unfair Business Competition. This practice also fails to meet the requirements of a valid agreement as it contradicts the law. The winning company of the tender is fully responsible for the contract's implementation, including if it utilizes another company's name, and can be sued by the aggrieved party in case of breach of contract, with legal consequences including compensation, contract termination, administrative sanctions, blacklisting, and criminal penalties.

Membangun Jiwa Pebisnis Melalui Kreasi Rumah Honai Di Kalangan Remaja HBM

This research discusses the importance of building an entrepreneurial spirit among teenagers, especially by utilizing Rumah Honai creations as an innovative means. Entrepreneurship is seen as a key skill for the younger generation in facing future challenges and contributing to economic growth. Asset-Based Community Development Method (ABCD) is used to identify and utilize community potential and assets in developing empowerment programs. The discussion focuses on two main aspects: building an entrepreneurial spirit and combining innovation, culture and entrepreneurship through Rumah Honai. The development of an entrepreneurial spirit is emphasized as a continuous process that requires commitment, continuous learning and the ability to adapt. The Honai House, as a symbol of Papuan cultural heritage, was introduced as a creative tool to instill entrepreneurial values ​​such as creativity, risk taking and problem solving. This research shows that involving teenagers in the creation of Honai Houses can develop practical business skills, increase cultural awareness, and promote social responsibility. This approach not only builds a strong entrepreneurial foundation but also promotes cultural heritage preservation and sustainable social development. In conclusion, the integration of entrepreneurship with cultural elements such as Rumah Honai offers a holistic approach in preparing the younger generation to face future challenges, while maintaining their cultural identity.

Influence of Political Stability on Foreign Direct Investment (FDI) Inflows in Nigeria

Purpose: The aim of the study was to assess the influence of political stability on foreign direct investment (FDI) inflows in Nigeria. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The study indicated that political stability significantly influences foreign direct investment (FDI) inflows, as investors seek environments where their investments are secure and can yield predictable returns. Stable political conditions reduce risks related to government policy changes, expropriation, and civil unrest, thereby attracting more FDI. Conversely, political instability, marked by frequent government changes, corruption, and social unrest, deters investors due to increased uncertainty and risk. Studies have shown that countries with stable political climates tend to receive higher FDI inflows as they offer a safer, more predictable investment environment. Additionally, strong institutions and good governance practices further enhance investor confidence, leading to sustained economic growth through increased foreign investment. Implications to Theory, Practice and Policy: Institutional theory, risk theory and eclectic paradigm may be used to anchor future studies on assessing the influence of political stability on foreign direct investment (FDI) inflows in Nigeria. In practical terms, businesses and investors should focus on strengthening political institutions to create a stable and predictable environment. Policymakers play a crucial role in creating an environment conducive to FDI by prioritizing the implementation of political reforms that enhance stability. Ensuring free and fair elections, protecting civil liberties, and promoting effective governance structures are vital steps in this direction.

Awareness of system strategies and their implementation

The aim of this study is to determine the recognition and awareness of systemic strategies within the realm of practical business operations at three different levels of the organizational hierarchy. Two research hypotheses have been formulated. H1: The implemented strategy will be described as systemic. H2: Employees will assert the implementation of strategies through a systemic approach. The hypotheses were tested using a questionnaire survey administered to a convenience sample of postgraduate/post-diploma working students associated with sales functions. The survey included 1,400 respondents, divided into a pre-pandemic sample of 1,050 individuals and a post-pandemic sample of 350 individuals. A combination of traditional paper questionnaires and computer-assisted telephone interviews (CATI) was used to collect responses. The analysis of the survey responses reveals that the respondents from both the 2019 and 2022 cohorts do not affirm the existence of systemic strategies within their respective organizations. Furthermore, they do not claim that these strategies are implemented from a systemic perspective.

English Proficiency Requirement for Improving Global Real Estate Business Program

This paper looks at both the felt (present situation) and perceived needs (target situation) English communication needs of Korean university students enrolled in the Global Real Estate Business program which uses English only as medium of instruction. Data was gathered using 8-item questionnaire composed of scales, checklists, and open-ended questions. Statistical and interpretive approaches were used to analyze the profile of the respondents, identify the both the present situation and target situation English communication needs of the students to inform possible program evaluation. Based on the study conducted, it was found that of the four communication skills in English, the respondents consider ‘listening’ as the most used, most practiced, most important, but most difficult. This study is important for the Global Real Estate Business Program teachers to consider, so that they can device ways on how listening comprehension can be improved. Also, the list of Global real estate business related skills and vocabulary focus will inform the teachers of which to emphasize and focus so that their classes will be able to better address what actual communication needs their learners feel are most important. In the future, it will continue to be necessary to manage practical global real estate business programs while continuously improving basic English skills, focusing on listening, to enable students to perform classes taught only in English.

INTEGRATING ISLAMIC BUSINESS ETHICS IN LABOR PROTECTION AND MINIMUM WAGE DETERMINATION IN INDONESIA

Policies related to the minimum wage are a contentious issue in employment across both developed and developing countries, aiming to meet community needs and benefit families. However, a research gap exists in applying justice and moral principles to wage determination from the perspective of Sharia economic law in Indonesia. This study aims to analyze fair wage components according to Islam and the role of business ethics in protecting workers and determining wages. Employing a literature review method, data were gathered from various sources such as books, journals, and previous research findings, which were reviewed and analyzed using descriptive analysis techniques. The study emphasizes the importance of justice and moral components in Islamic wage determination, rooted in the absolute essence granted by God, essential for morality. Business ethics in work protection and wage determination are crucial to ensure fair treatment and prevent exploitation. Recommended steps include optimal labor protection and wage determination, timely payment of agreed wages, recognition and guarantee of labor, fair wage determination without harm, and providing worker freedom. The study's novelty lies in integrating Islamic principles of justice and morality into minimum wage policies and developing practical business ethics guidelines for labor protection and wage determination under Sharia economic law in Indonesia.