Service Industry Research Articles

Exploring fintech innovations and their potential to transform the future of financial services and banking

This paper reviews the transformative potential of fintech innovations in reshaping the future of financial services and banking. The study critically examines how emerging technologies such as blockchain, artificial intelligence (AI), machine learning, and digital payment systems are disrupting traditional financial models and creating new opportunities for financial inclusion, operational efficiency, and enhanced customer experience. Through an extensive review of existing literature and industry reports, the paper identifies key trends and innovations within the fintech sector that are poised to redefine the banking landscape. The findings reveal that fintech innovations are significantly influencing customer expectations, regulatory dynamics, and competitive pressures in the financial industry. These technologies are driving the development of personalized financial products and services that cater to a broader demographic, including the underbanked and unbanked populations. The paper also discusses the challenges faced by traditional financial institutions in adapting to these changes, particularly the need for technological agility, regulatory adaptation, and the cultivation of consumer trust in digital platforms. The review underscores that fintech innovations have the potential to revolutionize the financial services industry, paving the way for a more inclusive, efficient, and customer-centric financial ecosystem. However, the successful integration of these technologies will require careful navigation of the associated regulatory, technological, and ethical challenges.

Navigating digital transformation in financial services: Strategic management: concepts and cases for sustainable growth and innovation

The financial services industry is undergoing a profound digital transformation, driven by technological advancements, evolving consumer expectations, and regulatory changes. This paper explores the strategic management concepts and frameworks essential for navigating this complex landscape. By examining real-world cases of successful digital initiatives, the study highlights best practices in fostering innovation, enhancing customer engagement, and achieving sustainable growth. Key themes include the integration of emerging technologies, such as artificial intelligence and blockchain, into traditional financial practices, and the importance of agile organizational structures that support continuous improvement. Additionally, the paper discusses the role of leadership in driving cultural change and aligning digital strategies with overarching business objectives. Ultimately, this research provides valuable insights for financial institutions seeking to leverage digital transformation as a catalyst for competitive advantage and long-term success.

Artful Instruction: Refining TVET Pedagogy on Food Safety Requirements

Food safety is a critical issue in the culinary industry, and culinary students as a Technical and Vocational Education and Training (TVET) practitioners must understand the importance ofadhering to food safety requirements. However, there are several challenges in ensuring students' perceptions of conformity to food safety requirements are accurate and effective. These issues include the complexity of food safety regulations, the varyinglevels of understanding among students, and the limited resources available to culinary programs to provide comprehensive training. This study explores vocational culinary students' perceptions of conformity to food safety requirements. The research employs quantitative design research, using surveys to collect data from 120 students enrolled in culinary programs at vocational schools in Johor, Malaysia. The study aims to understand how students view their adherence to food safety protocols and how their training and education shape their perceptions. This study is structured as a survey employing a distribution of questionnaires to find culinary students in Johor, Malaysia views compliance with food safety requirements in terms of food safety training, food safety rules, food safety standards, and license compliance with food safety standards. Statistical Package for Social Science (SPSS) version 26.0 was used to compute the survey responses' mean value, standard deviation, and frequency. All of the responses to the research questions got a high mean score. The results reveal that most students understand food safety practices well, but there needs to be more knowledge and implementation of some critical protocols. Furthermore, the study revealed that vocational students' general perceptions of food safety laws regarding food safety rules had the highest mean value, indicating that this is the most influential factor in persuading how culinary students in Johor, Malaysia perceive compliance with food safety standards. These findings have implications for culinary education programs and the food service industry, suggesting that more attention should be paid to providing students with comprehensive training in food safety practices to ensure safe and healthy food preparation.

Modeling the Relationship Between Employee Conflict, Work Stress, and Turnover Intention in the Food-Service Industry

The fast-paced and demanding food service industry faces challenges like employee conflict, workplace stress, and high turnover intentions, which impact both employee well-being and business performance. This study examines the causal relationships among employee conflict, work stress, and turnover intention using Partial Least Squares Structural Equation Modeling (PLS-SEM). A sample of 237 food service restaurant workers from Pampanga, Philippines, was selected via purposive sampling. Data were collected using a survey instrument with rating scales. The study evaluated the model’s fit, internal reliability, and construct validity using confirmatory factor analysis. Path analysis revealed a moderate fit of the model to the data, indicating acceptable reliability and validity. Findings showed a direct positive effect of employee conflict on turnover intention, with work stress having an indirect influence. Recommendations include the following: implementing conflict resolution and stress management programs, improving communication, offering flexible work hours, task management, employee assistance programs, rewards, and career advancement opportunities. Due to geographical limitations, future studies should also employ qualitative or mixed methods and longitudinal designs to examine these effects over time.

The Impact of Tax Incentives on the Growth of Small and Medium-Sized Enterprises: A Comparative Study Based on Industry

Tax incentive policies have been widely used as a crucial tool to promote the development of Small and Medium-sized Enterprises (SMEs), but their effectiveness varies across different industries and policy types. This study utilizes a comprehensive panel dataset from 2015 to 2023 to investigate the impact of Value-Added Tax (VAT) and income tax incentives on the growth of SMEs in China. Through fixed effects model analysis, we find that both VAT and income tax incentives significantly enhance SMEs' sales revenue and total asset growth. However, the magnitude of these effects differs substantially across industries, with high-tech and information technology service industries benefiting the most. Our industry comparison analysis reveals that the effectiveness of tax incentives is closely related to industry-specific characteristics, such as research and development (R&D) intensity and capital requirements. These findings provide key empirical evidence for optimizing SME tax policies and suggest that a more nuanced, industry-specific approach to tax incentives is needed. This study not only contributes to the literature on SME growth and tax policy effectiveness but also offers important insights for policymakers to refine SME support systems in the context of rapid technological change and economic transformation.

A Study on the Scope of Personal Protection Services in the Security Services Industry Act from the Criminal Perspective

A Study on the Scope of Personal Protection Services in the Security Services Industry Act from the Criminal Perspective

MANAGING INDONESIAN DATA BREACH NOTIFICATION IN THE FINANCIAL SERVICES SECTOR: A CASE FOR ONE-STOP NOTIFICATION MODEL

As a business of trust, the banking and financial services industry must protect its reputation to ensure consumer’s confidence. However, recent adoption of emerging internet communication technologies (ICT) have introduced new risks and challenges, such as safeguarding systems from cyberattacks and protecting consumer’s personal data. Cyberattacks, especially ransomware have shed new light on the importance of privacy and security throughout the banking and financial industry’s digitization efforts. Any organisation affected by cybersecurity attacks must face a twofold legal question. First, whether or not there has been a violation of the legal security requirements? Second, is to determine whether the attack triggers Data Breach Notification to the Data Protection Authority and/or Data Owners. This paper examines the complexity of maintaining security obligations under Indonesian Law (UU ITE, UU PDP, RPP PDP, and other relevant regulations) while also highlighting the common challenges in steering Data Breach Notification, with an enhanced perspective of the European General Data Protection Regulation (EU GDPR) practices. To address the challenges of patchwork data breach notification requirements in Indonesia, this paper proposes a proactive approach by Indonesia’s future Personal Data Protection Authority in creating a one-stop notification model to enable effective data breach incident management and notification.

Industry 5.0 Research in the Sustainable Information Systems Sector: A Scoping Review Analysis

Industry 4.0, centered on cyber-physical production systems, has been criticized for prioritizing profit over social and environmental concerns. In contrast, Industry 5.0 emphasizes AI efficiency while promoting human-centric, resilient, and sustainable approaches, integrating economic, social, and environmental systems. Previous research has often focused solely on conceptual frameworks and technologies, overlooking Industry 5.0's sector-specific impacts. This study addresses that gap by conducting a scoping review to map research findings, identify trends, and highlight knowledge gaps and future research opportunities. By systematically analyzing literature from the Scopus database (2016-present), the study refined a large dataset to focus on Industry 5.0's relevance. The analysis revealed significant attention to sectors like Industry and Producer Services, while Agriculture and Retail, particularly natural resource-based sectors like agriculture and fisheries, are often neglected. Key findings indicate that Industry 5.0 is likely to be driven by the industrial sector, followed by product services and financial industries. The study also highlights the strong connection between IoT and AI in optimizing operations with real-time data and automation and identifies blockchain as a promising technology for enhancing transparency and security, despite existing implementation challenges. This research not only serves as a foundational record of Industry 5.0's implications across various sectors but also provides valuable insights into its role in Information Systems (IS). It lays the groundwork for future exploration of Industry 5.0 in diverse sectors and industries.

Six Sigma in the Service Industry

Six Sigma in the Service Industry

The Economic Impact of AI Technology – Take Claude and GPT-4 As Examples

With the rapid development of science and technology, artificial intelligence (AI) technology has become the core field of global economic competition. Especially in recent years, the emergence of advanced AI models such as Claude and GPT-4 has not only led to a new round of technological revolution, but also had a profound and extensive impact on the global economy. The competition in these AI technologies is reshaping the economic pattern of various industries, creating new growth drivers, but also bringing many challenges and uncertainties. In the manufacturing sector, the application of AI technology has greatly improved production efficiency and quality, but it also requires companies to constantly update equipment and train employees to adapt to new production models. In the service industry, the application of AI customer service, intelligent recommendation and other technologies has improved the customer experience, but also put forward higher requirements for the skills and quality of employees. In addition, the wide application of AI technology also poses new challenges to data security, privacy protection and other aspects. How to enjoy the convenience brought by technology while ensuring data security and personal privacy has become an urgent problem to be solved. Therefore, in the face of the economic changes brought about by AI technology competition, policy makers, entrepreneurs and researchers need to conduct in-depth research and discussion, formulate reasonable policies and strategies, to better respond to challenges, seize opportunities, and promote the sustainable and healthy development of the economy.

Integration of Technology and Marketing Activities Among Service SMEs in Emerging Economies

Service small and medium enterprises (SMEs) are typically SMEs that operate in the service industry. In emerging economies, service SMEs can benefit from integrating technology and marketing activities to compete globally and drive growth. Further, service SMEs can compete with larger businesses with technology-driven marketing. Technology can differentiate an SME and create a unique value proposition, attracting customers and setting it apart. Social media advertising and email campaigns are often more cost-effective than traditional marketing channels such as print and television. The authors included a total of 32 articles published between the years 2013 and 2023 for in-depth analysis to address the issue under investigation. Findings indicated several effective digital marketing strategies to integrate technology and marketing activities among service SMEs in emerging economies, such as personalized marketing options, direct customer engagement, 24/7 availability options, and brand-building capabilities.

Implementing outsourcing strategies under a pandemic: the case of the nursing service industry

Implementing outsourcing strategies under a pandemic: the case of the nursing service industry

Overcoming the pitfalls of economies-of-scale in shared accommodation: How can effective multi-listing management enhance the sustainability of homestay businesses?

Economies-of-scale have always been a significant concern, but previous theoretical studies have primarily focused on the traditional manufacturing industry. Consequently, their findings are not directly applicable to the tertiary sector, particularly the hospitality service industry. The hospitality service operates in a high-risk environment and is susceptible to market exits. Therefore, it becomes even more crucial to effectively leverage economies of scale for improving survival rates and long-term operations. This study aims to explore the effectiveness of economies of scale theory in the hospitality industry by examining how sharing accommodation’s economies-of-scale impact personalized and professionalized homestay businesses’ survival. To achieve this objective, we analyze a panel dataset comprising 551,605 properties located in New York City, Los Angeles, Chicago, and Austin using panel survival analysis techniques such as the Cox model and the exponential model. The findings indicate that economies-of-scale can confer short-term survival advantages to professional homestay businesses in comparison with personalized ones. However, in the long run, the social benefits of personalized homestay businesses surpass the impacts of economies-of-scale, thereby enabling them to achieve better sustainability than professional homestay businesses. The likelihood of survival for professional homestay businesses increases with a greater number of listings in operation, referred to as the advantage of economies-of-scale on professionalization; conversely, this is not true for personalized homestay businesses. Moreover, effective host–guest communication both facilitates the attainment of benefits for personalized businesses and amplifies its impact on professionalized enterprises; high-quality products offered by personalized hosts can derive more advantages from scales compared to low-quality products, while superhost-certified professionalized hosts experience less business benefit than uncertificated hosts. This study is one of the pioneering efforts to investigate how economies-of-scale can contribute to the professionalization and personalization of homestay properties, thereby enhancing their business survival. It significantly contributes to the existing literature on hospitality business survival and expands upon the economies-of-scale theory by elucidating its advantages and potential pitfalls in relation to homestay businesses.

PREDICTION OF HEALTH INSURANCE PRODUCT PURCHASE ALLOCATION IN VARIOUS INDUSTRIES IN INDONESIA USING THE RANDOM FOREST METHOD

<p>The objective of this research is identifying which industry can absorb the product of wealth management such as health insurance. Secondly is to identify what the most factors important to determine closing the health insurance premium. The life insurance penetration and density in Indonesia is the lowest level among the Asian country, so the data population in this research is from 38 different companies from different types of industries with 143 data sample, by using the purposive sampling. Most factors which influence the purchasing of health insurance are Listrik, Industry, domicile, age and position, whether the industry that the most contribution for the health insurance sales is banking and education industry. The methodology that is used in this research is called CRIPS-DM (Cross Industrial Standards Program Data Mining). The first steps what is the purpose of the organization, and the second is what data that needed, and continue to data preparation, after modeling, it will make an interpretation of the result, and the final steps is deployment, it will plan how it will be implemented in the real world, and the accuracy score from this model is 58%. From the result of the projection closing health insurance from each industry, it can be concluded that the most industry that closed the health insurance is Banking Industry, the second is from insurance and the third is education and the next is education, retail, health, manufacturing and finance, hospitality, legal, publishing, technology and government and service industries.</p>

Is the global technological outage a caution for the service industries? Evidence from the tourism industry

ABSTRACT This study aims to examine the impact of the Global Technological Outage on July 19, 2024, on the tourism industry. The study employs a two-stage methodology: first, analyzing tourism-related news on websites, and second, conducting interviews with tourism professionals to validate the findings. The results highlight the extensive outages caused by the outage, particularly in reservation systems, customer communication, and operational management within the tourism sector. The study underscores the importance of developing robust, adaptable strategies to mitigate the effects of technological dependencies and outages, providing critical insights for future business continuity planning in the tourism industry.

Can human lean practices affect business performance? Evidence from Zimbabwe service industries

PurposeThis research seeks to explore the interrelationships between human lean practices (HLP) and their impact on the business performance of service industries.Design/methodology/approachA questionnaire was used to collect data from the service industries in Zimbabwe, and 260 valid responses were obtained. The questionnaire was analyzed using structural equation modeling (SEM) in SmartPLS.FindingsBoth the managerial human lean practices (MHLP) and employee human lean practices (EHLP) were found to positively impact business performance. Also, the MHLP had a positive relationship with EHLP.Research limitations/implicationsThe research focused on Zimbabwe’s service industry; hence, the results may not be readily adopted by other industries and countries without further investigations.Practical implicationsThe improvement in business performance is centered on the activities of humans, both the employees and managers. Therefore, organizations should invest more in human resources to enhance their performance.Originality/valueLean manufacturing (LM) is well known for its adoption in the manufacturing industry; thus, extending it to other sectors requires further research. Although a few studies have investigated the effect of adopting Lean in the service sector, they did not explore the relationship between MHLP and EHLP and the importance of such a relationship toward improved business performance.

Correlations between an Urban Three-Dimensional Pedestrian Network and Service Industry Layouts Based on Graph Convolutional Neural Networks: A Case Study of Xinjiekou, Nanjing

Urban high-density development has led to the emergence of complex three-dimensional pedestrian networks. As a crucial component of city centers, these networks significantly influence the spatial distribution of service industries. Understanding the correlation between pedestrian networks and service industry layouts is vital for effective planning and development. This study proposes a technical framework for analyzing the relationship between three-dimensional pedestrian networks and service industry layouts. Using the Xinjiekou central area in Nanjing as a case study, we constructed a three-dimensional pedestrian network model using the sDNA method. Focusing on catering formats, we introduced a method to study the spatial distribution characteristics of service industries in three-dimensional spaces and employed a graph convolutional network model to systematically analyze the correlation between pedestrian network closeness and betweenness with catering formats. The results indicate that pedestrian network closeness is significantly positively correlated with the number and average spending of catering formats, while betweenness shows almost no correlation. High-closeness areas, due to their traffic convenience and walkability, are more conducive to the concentration of catering formats and higher spending levels. Our findings provide valuable insights for catering format location decisions and the optimization of three-dimensional pedestrian networks, contributing to sustainable urban development.

Stackelberg game analysis of the energy performance contracting considering altruistic preferences

The Stackelberg game analysis of an Energy Performance Contracting(EPC) is established to correctly analyze the impact of altruistic preference behaviors on the decision-makers, energy service companies(ESCOs) and energy-consuming units(EUs). Its motivation comes from the fact that, to achieve a win-win situation, EUs usually engage in altruistic behaviors, but the implementation results of the EPC are always contrary to their expectations. Using nonlinear optimization theory, analyzed the decisions of the Stackelberg models under different altruistic preference attributes, and then compared the impacts of altruistic preferences on decisions and profits. Results reveal: (1)compared to a situation lacking altruistic preference, when the leader, the EU, has an altruistic preference, the EU only needs to transfer a small part of its own interests to significantly increase the ESCO's profit and ultimately improve the overall EPC profit; (2) the altruistic preference of the ESCO functions akin to a "poison," engrossing the company in the satisfaction derived from the increased revenue of the energy-consuming entity and gradually eroding its own profits; and (3)the altruistic preference behavior of both parties is a kind of “benefit transfer behavior,” which is conducive to stable operation and long-term development of EPC industry. The research results can provide a theoretical reference to enhance the development of energy-saving service industry.

Developing Tasks for Real-Life Kiosk Transactions for Elementary Korean Learners

ABSTRACT This study proposes a task-based teaching approach to assist Korean language learners in effectively navigating kiosk interactions. With the growing expansion of non-face-to-face transactions, particularly driven by development in the service industry and the COVID-19 pandemic, there has been a remarkable surge in kiosk installations worldwide. This study analyzed the language commonly used in kiosk settings and introducing tailored teaching methods and materials for beginner and intermediate Korean learners. The study comprises two main parts: data analysis and the proposal of teaching content. The data analysis section examines how the task of “ordering” is presented in Korean language textbooks and refines corpus data sourced by the National Institute of Korean Language (2022). Specifically, the study analyzes kiosk language, identifying lexical morphemes (nouns, verbs, and adjectives), significant collocations, verb endings, and dependent nouns based on frequency. In the teaching content section, the study presents educational materials grounded in task-based teaching to facilitate direct engagement with kiosks for practicing ordering food and beverages in authentic scenarios. The significance of this study lies in its exploration of pervasive kiosk-related issues in Korea, providing learners with practical language skills essential for navigating modern society.

Moving toward employees' flourishing-at-work, an Indian perspective

PurposeThis study explores the pivotal relationship between humble leadership (HL) and flourishing-at-work (FAW) in the context of the information technology-enabled services (ITes) industry. Specifically, it explores the mediating role of psychological empowerment (PE) and the moderating influence of proactive personality (PP) in this dynamic interplay.Design/methodology/approachData from a comprehensive survey of 342 full-time employees from information technology-enabled services (ITes) organizations in India were meticulously analyzed. Utilizing covariance-based structural equation modeling (CB-SEM) in IBM AMOS 21.0.FindingsThe results illuminate the positive impact of HL on PE, subsequently enhancing FAW among employees. Furthermore, PE was identified as a partial mediator in the relationship between HL and FAW. Intriguingly, this mediation process was found to be significantly stronger when employees exhibited a higher degree of proactive personality.Practical implicationsThis research underscores the critical importance of cultivating humble leadership within organizations. The findings emphasize the potential of targeted training programs aimed at nurturing humble leadership qualities among managerial staff. By doing so, organizations can significantly contribute to the emotional, psychological and social well-being of their employees, ultimately fostering a state of FAW.Originality/valueThis research innovatively links the concepts of humble leadership and FAW within the specific context of the ITes industry. By integrating PE as a mediator and PP as a moderator, this study not only fills a critical gap in existing literature but also provides a robust framework for future research.