Strategic Business Research Articles

The Impact of Social Media Influencers on Consumer Behavior and Strategic Business Applications

The Impact of Social Media Influencers on Consumer Behavior and Strategic Business Applications

A Proposed Measurement Model for Enhancing Strategic Business Transformation Performance

This research was conducted at PT XYZ, an Indonesian digital telecommunications leader, to address declining profits and increasing competition which threaten its mission to provide reliable and innovative business services. The study aimed to develop a strategic measurement model to enhance business transformation performance. A mixed-methods approach was utilized, collecting qualitative data through in-depth interviews with 7 key individuals and focus group discussions with 6 participants, along with quantitative data from surveys involving 100 internal employees and 100 external stakeholders. This comprehensive approach helped identify several key factors affecting transformation success. Key findings included the necessity of a progressdriven approach with regular strategic alignment checkpoints, a significant gap in organizational capabilities due to insufficient training, lack of stakeholder engagement resulting in minimal buy-in, and the absence of clear Key Performance Indicators (KPIs) complicating progress tracking and decision-making. To overcome these challenges, the study proposes optimizing resource allocation via a robust management system, investing in ongoing training programs to enhance organizational capabilities, improving stakeholder engagement through continuous communication, and establishing definitive performance metrics and regular evaluation mechanisms. Implementing these strategies could significantly boost PT XYZ’s financial profits, customer satisfaction, and competitive standing in the telecommunications sector.

Strategic Business Sustainability: A Comprehensive Risk Management Examination of SME Participation in Maritime Events Pinisi Festival

The Pinisi Festival in Bulukumba, Indonesia, showcases the cultural heritage of the Kajang community and offers a platform for Micro, Small, and Medium Enterprises (MSMEs) to participate and benefit from the tourism sector. This study examines the role of effective risk management in enhancing the sustainability of MSME participation in the festival. Using a qualitative descriptive approach, data were collected through in-depth interviews, observation, and document analysis. Findings reveal that MSMEs demonstrate a good understanding of risk management, identifying key risks such as damage to goods, a decrease in visitor numbers, and adverse weather conditions. To mitigate these risks, MSMEs employ strategies such as maintaining backup stock, intensifying marketing efforts, and investing in weather-resistant infrastructure. The application of effective risk management not only helps MSMEs address challenges during the festival but also enhances their competitiveness in the market. Furthermore, government support and collaboration with private entities play a crucial role in overcoming challenges and ensuring the success of the festival. This study contributes to the understanding of risk management practices in MSMEs and highlights the importance of collaboration in promoting sustainable tourism development.

Analysis of Innovation and Technology in Banking

As proven by both private and public banks, IT-enabled innovation has had a substantial influence on a range of industries, including banking. These financial institutions value innovation and have achieved success as a consequence of technical breakthroughs. The increased competitiveness has compelled all players to act more rapidly. As a result, public sector banks have experienced substantial transformations, and consumers are now confronted with a slew of new options. These banks, which previously depended on traditional methods, are now proactively getting out to the public through billboards, FM radio, and other media outlets. In addition, endorsements from famous people are becoming more common in government entities. The widespread usage of basic banking processes has increased banks' need to innovate. Client satisfaction increases as a consequence in both public and private banks. The study's purpose is to investigate how new technology affects customer satisfaction in Bhopal's public and commercial banks. Customer data obtained from these banks was reviewed, with substantial results. In terms of innovative successes, private banks outscored state banks, according to the poll. Rising banking rivalry is widely considered to have had an immediate influence on how financial institutions prioritize customer-oriented operations and define company goals. Considering the significance of technology and innovation in the modern economy for strategic management, business development, and economic success, new approaches to understanding the relationship among technological innovation and financial services are critical. These unique strategies are required for gaining an advantage over the competition. With this in mind, the goal of this study is to investigate the basic implications of technological innovation on financial services at the bank's location level, specifically through an examination of customer-facing staff input. According to the findings, information and communication technology is critical to the sector's performance. The paper also examines the empirical study's practical implications, strengths, and limitations.

Khalti: a digital wallet in Nepal

Learning outcomes After completion of the case study, the students will be able to understand competitive business and corporate strategies; understand various standard models and frameworks related to business and corporate strategy development such as Porter’s five forces model, Ansoff matrix, three value disciplines frameworks, scenario planning matrix and value chain analysis; and practice competitive strategy formulation using the latest analyzing tools/frameworks/models. Case overview/synopsis Although the digital wallet industry in Nepal was in its initial stage, it was growing rapidly. A digital wallet brand – Khalti, launched in 2017, could secure the second position in the industry within two years of establishment. In recent times, the leading digital wallet brand was eSewa which was developed by Kathmandu-based company – F1Soft International in 2009. Khalti team was better for creativity, risk-bearing capability, intact bond among co-founders, innovative skills and aggressive growth. Mr Amit Agrawal, the chief executive officer of Sparrow Pay Pvt. Ltd, was preparing to formulate some strategies for his company’s product, Khalti, on March 24, 2020. The next day, he was going to present his ideas about the future directions of Khalti with the co-founders of Janaki Technology, the parent company of Sparrow Pay Ltd. Therefore, his major agenda was how to design effective strategies to make Khalti more competitive against eSewa and probably lead the industry. Based on such a scenario, this case study deals with various competitive business and corporate strategies such as marketing, product and cost differentiation that Khalti could formulate to maintain its position and further become a leading firm in the industry. Complexity academic level This case study is suitable for business training programs at the master’s level, including Master of Business Administration and executive education. It is also appropriate for undergraduate students, particularly those who want to understand more about competitive business, strategic management and corporate strategy in developing economies. It is especially useful for students who have taken courses in strategic management, corporate strategy, marketing management and business expansion management. This case study is suitable for provoking skills of students such as critical and creative thinking, risk analysis and business planning. Supplementary materials Teaching notes are available for educators only. Subject code CSS 11: Strategy

Evaluating Corporate Social Responsibility in Achieving Sustainable Development and Social Welfare

This study delves into the conceptualization of Corporate Social Responsibility (CSR) as a crucial factor for fostering sustainable development and enhancing social welfare. It addresses the challenge of comprehensively perceiving the contributions of CSR activities to sustainable and socially responsible corporate practices. Using a bibliometric approach, this research scrutinizes a substantial corpus of literature, extracting 4,276 documents covering from 2009 to 2024 from the Scopus database, centered on the interplay between CSR, sustainable development, and social welfare. The research utilized the R Biblioshiny software for data analysis incorporates descriptive, annual scientific production, most relevant sources, core sources by Bradford’s Law, most relevant affiliations, corresponding author’s countries, network, and trend analyses to chart the progression and influence of CSR within these realms. Findings underscore a marked expansion in CSR-related research, spotlighting its evolution from mere charity to an integral component of strategic business operations. Emerging patterns reveal that businesses increasingly view CSR as a pivotal part of their value proposition rather than an optional extra. Despite the growth of academic interest, the study has identified a lacuna in the empirical understanding of how CSR strategies are effectively implemented. Recommendations call for a more seamless incorporation of CSR into the very fabric of corporate strategy and operations. Furthermore, the study highlights the need for future research to develop precise metrics capable of quantifying CSR’s social and environmental effects. Contributing a nuanced perspective to the discourse on CSR, this research provides a foundational schema for further scholarly investigation, underscoring CSR’s dynamic and essential role in today’s corporate world.

Enhancing Sales Strategies In Prime Market Retail Business Using Tuned Gradient Boosting

In the retail sector, comprehending customer behavior and employing effective customer segmentation is pivotal for refining marketing strategies and augmenting profits. This study delves into predictive modeling for customer segmentation at Prime Market, a prominent retail entity. The research initially yields a classification error rate of 25.10% by employing Gradient Boosting for customer classification. However, through meticulous parameter tuning, this rate dramatically improves to 8.6%, achieving an impressive accuracy of 91.4%. This refined model furnishes invaluable insights into Prime Market's customer segments, enabling the customization of marketing tactics and strategic business approaches. Armed with these insights, Prime Market can make data-driven decisions to enhance customer segmentation accuracy, better comprehend customer preferences, and pinpoint potential avenues for revenue growth. Leveraging advanced data analytics and predictive modeling empowers Prime Market to maintain a competitive edge and deliver its clientele a personalized, gratifying shopping experience.

«Strategic business company» in the understanding of the Law on Foreign Investments

The object of the study is the implementation of foreign investments in strategic sectors of the economy, the subject of the study is a «strategic business entity» as an object of investment activity. The author examines aspects of the normative and legal definition of «a business entity of strategic importance for ensuring the defense of the country and the security of the state», the features of the use of this concept in law enforcement. Particular attention is paid to the role of strategic business entities in ensuring the implementation of the National Security Strategy of the Russian Federation. The methodological basis of the study was made up of general logical methods of theoretical analysis, as well as a special formal-legal method and a method of technical-legal analysis. The conclusion is substantiated about the law enforcement agency going beyond the literal interpretation of the regulatory definition of a «strategic business entity» and a new concept of such a company is formulated and understood as «a legal entity created in the Russian Federation, implementing and (or) having the ability to implement, on the basis of a license, other permit document or agreement, any of the types of activities that are of strategic importance for ensuring the defense of the country and the security of the state and the implementation of national priorities provided for by the National Security Strategy of the Russian Federation (including performing work, providing services, delivering products necessary for another legal entity to implement the specified type of activity)». This definition must be provided for in the law in order to ensure legal certainty and create a positive investment climate.

ГЕНЕЗА Й ЕВОЛЮЦІЯ КОНЦЕПЦІЇ ЛАНЦЮГІВ СТВОРЕННЯ ВАРТОСТІ У КОНТЕКСТІ ФОРМУВАННЯ МІЖНАРОДНОЇ КОНКУРЕНТОСПРОМОЖНОСТІ ПІДПРИЄМСТВ

The aim of the article is to identify the ways and directions of the genesis and evolution of the value chain concept in the context of forming international competitiveness of enterprises The analysis of scientific research on this issue has shown that the concept of value chains originates from the teachings of the physiocrats, gained significant development from the 1940s onwards, and currently holds a prominent position in the forefront of management thought and analytical tools. It forms a powerful strategic planning instrument for analyzing the business environment and making managerial decisions to enhance the competitive advantages of an enterprise in the market. The study found that the value chain concept is based on process-oriented, adaptive, and strategic management approaches. It views the enterprise as a system that transforms available resources and ensures feedback among all management links to secure competitive advantages in the market. The functioning of value chains also determines the formation of enterprise profits. The value chain concept is a crucial tool for both macroeconomic analysis, identifying global trade trends, its impact on developed and transition economies, understanding directions of national development policies, and the integration of individual productions into sectoral complexes, as well as microeconomic analysis for forming strategies of differentiation and diversification for enterprise development. The value chain concept must consider and balance the goals of various stakeholders, including customers (satisfaction of needs, technical support), owners and shareholders (profit, profitability, development), the workforce (decent working conditions, professional growth), the community (responsible social and environmental policies, community involvement, promotion of a healthy lifestyle), and partners (collaboration based on stable, long-term, effective business relationships). Value chains in an enterprise include sequentially interconnected processes and actions aimed at producing goods and services that acquire added value by meeting consumer needs, thereby forming the enterprise’s competitive advantages. Analyzing value chain elements as a management tool increases business profitability and is an integral part of formalized strategic management business models (mission, strategy, corporate culture, performance indicators) and operational management. The analysis of value chain elements is a part of management accounting, marketing, and logistics. It provides a systematic approach to making managerial decisions about the functioning of value chains, which can disrupt the status quo among the links, performers, and beneficiaries in the economic relationship system that encompasses the value chains within an enterprise.

The company of the future: Integrating sustainability, growth, and profitability in contemporary business models

This paper examines the evolving nature of corporate organizations, focusing on integrating sustainable practices within traditional business models to achieve economic growth and profitability. Highlighting the importance of embedding sustainability into business strategies, the study explores how modern enterprises can adapt to changing market demands through digital transformation and strategic business planning. The research underscores the rise of hybrid business models that blend conventional commercial approaches with innovative sustainability initiatives, thereby creating value-driven companies. By proposing a holistic methodology, the paper assesses the potential of future organizational models to promote economic sustainability, operational efficiency, and market competitiveness while enhancing corporate responsibility and stakeholder engagement. This study seeks constructive insights into managing the complex dynamics between growth, sustainability, and profitability in contemporary business environments through comparative analyses with established frameworks and real-world case studies.

Specific features of supply chain management of ukrainian firms in the conditions of european integration

Methods. During the research, a range of general scientific methods of cognition was used, in particular, methods of analysis and synthesis – to study the features of the European integration of the new EU member states from the point of view of supply chain management, to study the content of EU Directives and Regulations on transport and supply chain management, a method of generalization – to assess the consequences of the impact of European legislation on supply chain management of Ukrainian firms. Results. The work offers a list of measures that should be taken by the management of Ukrainian firms in order to adapt their activities to the requirements of EU legislation and the Association Agreement between Ukraine and the European Union. It is proposed to take into account environmental requirements, the need for servitization, changes in the configuration of the value chain, the potential impact of increasing the duration of the product life cycle on sales volumes, as well as solving the problems of reverse logistics and the possibility of reusing products when developing strategic business plans of companies. Novelty. The paper provides an assessment of the influence of Directives and Regulations of the European Union, aimed at creating a circular economy and ensuring the sustainable development of transport infrastructure, on the of supply chain management of Ukrainian firms. Practical value. The work contains a description of the challenges that the transition to the circular economy in EU member states creates for supply chains and value chains of firms, as well as recommendations for the management of Ukrainian firms to consider the impact of the circular economy on their business models.

The Role of Service Quality and Location in Increasing Customer Loyalty with Customer Satisfaction as an Intervening Variable

This research aims to determine the effect of service quality and location on customer loyalty with customer satisfaction as an intervening variable for customers of the "Warung Pojok" restaurant. This research uses a purposive sampling technique through a questionnaire as data collection material with 100 respondents. In this research, service quality and location act as independent variables, while customer loyalty is the dependent variable with customer satisfaction as the mediating variable. This research uses quantitative methods and data analysis is carried out using statistical tests with the help of SPSS 21. The results of the research show that service quality and location have a positive effect on customer satisfaction. Furthermore, the variables of service quality and location also have a positive effect on customer loyalty. Apart from that, customer satisfaction has been proven to influence customer loyalty at the "WARUNG POJOK" restaurant. This indicates that good service quality and strategic business locations play an important role in providing consumer satisfaction so that they can form loyal customers.

FROM DATA TO DECISIONS LEVERAGING ADVANCED MIS FOR STRATEGIC BUSINESS INSIGHTS

In today's rapidly evolving business landscape, Management Information Systems (MIS) play a crucial role in transforming raw data into strategic business insights. This study explores the impact of advanced MIS on decision-making processes within organizations, highlighting the integration of data analytics, business intelligence, and decision support systems. By examining various case studies and empirical data, the research illustrates how companies can leverage MIS to gain a competitive advantage, improve operational efficiency, and foster innovation. The findings suggest that the effective use of MIS not only enhances strategic planning but also facilitates real-time decision-making, thereby driving business growth and sustainability. This paper aims to provide a comprehensive understanding of the mechanisms through which MIS can be utilized to optimize business outcomes and support strategic initiatives.

THE EFFECT OF ENTREPRENEURIAL COMPETENCE ON THE GROWTH OF SME: THE MEDIATING ROLE OF NETWORK COMPETENCE

This study aims to investigate the influence of entrepreneurial competencies, with a focus on strategic and ethical competencies, on business growth. It also explores the mediating role of network competencies in this context. The sample consisted of 134 respondents from Tanjung Duren, West Jakarta, selected through purposive sampling. The findings indicate a positive and significant relationship between strategic competencies and business growth, while ethical competencies had no significant impact on business growth. Additionally, both strategic and ethical competencies were found to positively and significantly influence network competencies, which, in turn, had a positive and significant effect on business growth.

Contract farming in transitional economies: A stakeholder theory perspective

Abstract In transitional economies, contract farming is widely recognized as a means for addressing numerous market failures affecting small farmers. Reviewing the scholarship on contract farming, we show that its traditional understandings have been framed by the narratives of transaction cost economics and power dynamics. We critically evaluate these narratives and demonstrate how stakeholder theory, with its relational understanding of business, offers a more comprehensive understanding of contract farming. We argue that a stakeholder theory perspective underscores the trust-based and collaborative nature of successful contract farming arrangements. It highlights the importance of informal and moral stakeholder relationships that compensate for the limitations of weak enforcement mechanisms and inadequate legal frameworks in transitional economies. This way, a stakeholder theory perspective on contract farming highlights its strategic management and business ethics dimensions, offering valuable guidance for cultivating successful stakeholder relationships.

Human management control systems on construction firms amidst COVID-19

BACKGROUND: The COVID-19 pandemic continues to endure in the construction industry. While many businesses worldwide have adapted to working from home or home-based offices, this is impractical in this sector as building activity is conducted on-site, which creates difficulties for employees in adapting to the post-pandemic setting. OBJECTIVE: This article analyzes how the pandemic has changed and affected construction firms’ human management control systems dimensions. We addressed, amidst the pandemic, how work is being performed and its effects on employees and businesses. METHODS: In this analytical research, we used chain referral sampling to perform an in-depth interview study with top administrators of different construction firms in Colombia, and we used inferential statistics for our data analysis. RESULTS: Results showed potential sources of low efficiency and minimal control of resources, including lack of communication with employees, lack of recognition systems, centralized decision-making, and disconnection between business objectives and financial requirements. CONCLUSIONS: Construction firms must ensure workers understand the project goals adequately and be empowered to make on-site decisions provided a training program is offered. Organizations ought to connect their strategic business goals with financial requirements; these must be regularly updated and modified as the economic and labor force scenario evolves.

Effects of operators’ strategic approach to local content and in-country spending requirements on financial performance of upstream petroleum sector firms, Ghana

Local content requirements and in-country spending mandates have emerged as crucial tools in the upstream petroleum sector, aiming to distribute socio-economic benefits derived from resource production to the general citizenry within the host economies. However, understanding how operators' strategic responses to these requirements affect firm financial performance remains limited due to data constraints. Consequently, drawing on resource dependence, social exchange, and linkage and spill-over effect theories, this paper develops a conceptual framework to elucidate the relationships among local content requirements, in-country spending, local linkage factors, operators' strategic approaches & business practices, and financial performance, including their implications. To address data limitations, a mixed-methods approach was adopted, combining content analysis of financial reports from 11 global upstream petroleum operators in Ghana and key informant interviews, with survey primary data collected via online questionnaires. This methodological triangulation enabled a comprehensive examination of how operators' strategic responses affect financial performance in the Ghanaian upstream petroleum sector. Analytical techniques used included factor analysis and Partial Least Squares Structural Equation Modeling (PLS-SEM) from SPSS and SmartPLS3, respectively. The study found that while local content requirements and in-country spending mandates do not significantly influence operator strategic approaches or financial performance, local linkage factors have a strong positive effect on strategic approaches, which in turn positively affect financial performance. Furthermore, local linkage factors partially mediate the relationship between local content requirements and strategic approaches, as well as financial performance. These findings underscored the importance of prioritizing investments in local linkage factors to stimulate industrialization and foster cross-sectorial outsourcing opportunities. The study contributes to resource dependence, social exchange, and linkage and spill-over effect theories by highlighting the role of strategic approaches and local linkages in promoting financial performance. It also offers insights for policymakers and industry practitioners, emphasizing the need to enhance competitiveness and capacity within the host economy. Additionally, the study confirms the predictive relevance of the model, indicating its robustness in explaining the dynamics of local content requirements and in-country spending mandates in the petroleum sector.

THE MEDIATING ROLE OF MARKETING CAPABILITY AND INNOVATION CAPABILITY IN THE LINK BETWEEN STRATEGIC ORIENTATION DIMENSIONS AND BUSINESS PERFORMANCE(IN THE CASE OF SELECTED MANUFACTURING COMPANIES OPERATING IN ETHIOPIA)

<p>The purpose of this study is to determine the mediating role of Marketing and Innovation Capabilities in the link between Strategic Orientation dimensions and Business Performance. 385 questionnaires were distributed to CEOS, marketing managers & marketing experts, and brand managers, production managers, finance managers, IT specialists, research & development managers of 20 manufacturing firms and only 300 questionnaires were used for final analysis. After confirming that the CFA measurement models fulfill the GOF statistics, the discriminant validity analysis results show that the AVE values exceeded their respective square inter-construct correlations in several cases. Following Exploratory Factor Analysis (EFA) to investigate the underlying theoretical structure of the phenomenon and Confirmatory Factors Analysis (CFA) measurement models that meet the Goodness-of-Fit (GoF) statistics, the discriminant validity analysis results show that the AVE values are more significant than their respective square inter-construct correlations in several cases. The reliability test for all seven constructs is above 0.7, which satisfies the recommended threshold in the literature. The statistical software utilized for data analysis in this study was PROCESS Macro 3.4.1 and SPSS 25. The study's findings revealed that all four dimensions of strategic orientation and marketing and innovation capabilities had a favorable and significant impact on business performance. Both marketing and innovation capabilities have mediated the relationship between strategic orientation components (MO, EO, TO, and KO) and business performance. This study concludes that focusing solely on strategic components is insufficient and that integrated organizational processes are required to attain truly outstanding business performance. The study discovered that greater marketing and innovation capabilities enhance business performance (both financial and marketing). As a result, manufacturing businesses should examine each component of strategic orientation independently - market, entrepreneurial, technological, and knowledge orientations - while assessing fundamental abilities, which include marketing and innovation capabilities.</p><p> </p><p><strong>JEL:</strong> M31, O31, O32, O36, L25, L26, L60</p><p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/soc/0187/a.php" alt="Hit counter" /></p>

Quit the Politicking? How Factors Within Strategic Business Unit Teams Shape Returns from Entrepreneurial Orientation

In this study, we examine the entrepreneurial orientation (EO), political behavior, and discretion of leaders within an organization’s strategic business unit (SBU) customer portfolio teams to determine whether and how an SBU team’s political environment affects its performance. Building upon EO as theory of new value creation, we argue that politically charged SBU teams are less capable of translating EO into improved performance. However, we observe the harmful influence of SBU team politics on the EO-performance relationship is partially alleviated when SBU team leaders have greater discretion over their units’ actions. We examine our theoretical model using robust data collected from 320 SBU team leaders and 1181 reporting SBU project managers within a large multi-national information technology firm headquartered in India. Implications for theory and practice are discussed.

Digital marketing business models: Key stages, types and trends of development

The main goal of the article is to formalize the key business models of marketing of modern companies and substantiate the key stages, types and trends of development. The relevance and need to pay significant attention to the marketing digital business model when organizing a business is substantiated. Using structural and logical analysis and criticism of scientific research, the essence, advantages and disadvantages are determined, the main blocks, stages and key elements of the structure of business models of modern companies are argued. It has been proven that marketing digital business models serve as a logical and visual plan for organizing all business processes of companies from production, marketing, sales and logistics to building a hierarchy of profitability. The key development trends are substantiated and the most popular business models of business organization in modern conditions are structured on the basis of scientific generalization, structural and logical analysis and mathematical modeling. Practical significance is characterized by the fact that the marketing business models of world-class companies are generalized and structured, taking into account their specifics and characteristics. Practical recommendations and key stages of building a company’s business model and its implementation into reality have been formed to achieve strategic business goals.