Sustainable Business Growth Research Articles

A Conceptual Model of Business Best Practices and Sustainability of MSMEs in Saudi Arabia

The objective of the present study is to ascertain the determinants accountable for attaining business sustainability. This research aims to enhance the development of a conceptual framework for business best practices that can assist micro, small and medium companies (MSMCs) in attaining sustainable business growth by improving their performance. This study enhances the existing body of literature on the Multi-Stage Model of Consumer Decision Making (MSMC) by offering a rigorous approach in terms of methodology, conceptual framework, and practical implications. The framework presented in this research comprehensively addresses the pertinent domains that might be instrumental in formulating a sustainable business trajectory for micro, small, and medium-sized enterprises (MSMEs). The research was conducted after systematically reviewing the existing literature on MSMCs. MSMCs and business practises have been the primary focus of the keyword combination. Following a thorough categorization of the research papers selected for the analysis according to their location, paper type, focus, and theoretical underpinnings, a thematic analysis was conducted. The document delineates the necessary guidelines for formulating sustainable business strategies for Micro, Small, and Medium-sized Companies (MSMCs), encompassing both macro and micro factors. Additionally, this study identifies many areas for future research, hence expanding potential possibilities for further investigation. In conclusion, the research identified several key sustainable business practices, including financial fragility, technological advancements and integration, entrepreneurial management and innovation, human resource management, and international trading. These practices play pivotal roles in enabling MSMCs to adapt to changing circumstances and enhance their resilience during crises. It underscores the significance of embracing innovation, leveraging technology, and fostering strong leadership to ensure long-term sustainability. Future research could be conducted to compare the business practises of multinational micro small and medium companies (MSMCs) in both emerging and developed economies.

Eco-Innovation as a Catalyst for Sustainable Business Growth

Eco-Innovation as a Catalyst for Sustainable Business Growth

The Effect of Customer Experience on Customer Satisfaction and Loyalty of Generation Z at Coffee Shops in Bengkulu City

In recent years, the global coffee industry has witnessed a remarkable surge in the preferences and behaviours of Generation Z consumers, born roughly between the mid-1990s and early 2010s. With their distinctive characteristics and preferences, Generation Z has become a significant demographic segment shaping consumer trends, particularly coffee shops. This study examines the effect of customer experience on the satisfaction and loyalty of Generation Z at coffee shops in Bengkulu City, Indonesia. This study is designed using a quantitative approach through a survey questionnaire. A total of 360 Generation Z in Bengkulu City participated and collected purposively. The data were analyzed using the SEM-PLS. The results of this study show that customer experience has a positive and significant effect on customer satisfaction and loyalty. Customer Satisfaction has a positive and significant effect on loyalty. This study concludes that the relationship between customer experience, satisfaction, and loyalty is pivotal in understanding consumer behaviour and fostering enduring customer relationships. It indicates that customer experience is crucial in influencing customer satisfaction and loyalty. When customers have positive experiences with a brand or business, they are more likely to be satisfied with their interactions and develop a sense of loyalty towards the brand. Also, customer satisfaction itself has been shown to have a direct and positive impact on customer loyalty. Satisfied customers are more inclined to continue patronizing and recommending a business to others, thus contributing to long-term loyalty and profitability. Recognizing the significance of enhancing customer experience and satisfaction can lead to stronger customer loyalty and sustainable business growth.

Analyzing the Impact of Green Marketing Strategies on the Environmental Performance and market performance of Companies in the Consumer Goods Sector

This study explores the impact of green marketing strategies on the environmental and market performance of companies in the consumer goods sector, with a specific focus on Pakistan—a developing economy facing rapid urbanization and environmental challenges. Recognizing the growing consumer demand for sustainable practices, this research delves into how green marketing can serve as a vital tool for companies to align their business objectives with environmental responsibilities. Through a qualitative case study approach, involving semi-structured interviews with stakeholders and analysis of sustainability reports and consumer feedback, the study aims to uncover the effectiveness of green marketing strategies. These strategies encompass sustainable product development, eco-labeling, environmentally friendly packaging, and eco-centric promotional activities. Findings indicate that green marketing significantly contributes to improving a company's environmental performance, evidenced by carbon footprint reduction, waste management efficiency, and sustainable sourcing. Moreover, such strategies positively affect market performance, enhancing sales growth, brand loyalty, and consumer perception. Importantly, the study highlights the challenges of greenwashing and consumer skepticism, emphasizing the need for authenticity in green marketing efforts. Additionally, gender analysis revealed uniform responses across male and female participants regarding the recognition of sustainability efforts and the impacts of green marketing, suggesting a broad consensus on the value of green practices irrespective of gender. This research not only bridges the gap in literature by focusing on the dynamics of green marketing in a developing country but also provides practical insights for companies and policymakers aiming to navigate the sustainability landscape in the consumer goods sector. The study underscores the strategic importance of green marketing initiatives in driving sustainable business growth and environmental stewardship, offering a pathway towards a more sustainable future.

Inovasi Teknologi dalam Sistem Informasi Akuntansi: Financial Planning pada Bisnis UMKM

This webinar discusses the importance of technological innovation in accounting information systems to enhance the efficiency and effectiveness of financial management among Micro, Small, and Medium Enterprises (MSMEs). By leveraging technologies such as cloud computing and integrated accounting information systems, MSMEs can improve transparency, accuracy, and speed in financial reporting, ultimately supporting better strategic planning and decision-making. The findings from this webinar reveal that many MSMEs still rely on traditional methods to assess financial health, which are inadequate to face the current economic challenges. The speakers emphasized the importance of good risk management and effective branding strategies to achieve sustainable business growth. By adopting new technologies and implementing prudent financial management, MSMEs can maintain their competitiveness in the dynamic global market.

The Impact Of Insurtech On The Insurance Business Model In Indonesia

In Indonesia, the integration of InsurTech into the business process is beginning to manifest, with emerging companies harnessing technology across various aspects, including customer acquisition, underwriting, claims, billing, and customer service. Furthermore, established companies are incorporating technology into specific facets of their business processes to improve overall efficiency and accuracy. Thus, it is intriguing to delve deeper to the phenomenon to understand what factors are driving the growth of InsurTech there, how it spurs business model innovation, what gaps exist between the country’s current insurance business models and the models required for development, and what capabilities existing insurance companies need to fill in these gaps. This is a qualitative study that interviewed 10 participants, which are C-level executives in ten major national and multinational insurance companies in Indonesia. The finding revealed that efficiency gains, achieved through streamlined processes and cost reduction, drive significant investments in InsurTech. Regulatory challenges and technological advancements shape the trajectory of InsurTech. The direct insurer consumer relationship facilitated by InsurTech enhances speed, ease, and transparency in insurance processes. However, challenges such as underdeveloped business models and resistance to innovation exist. Successful InsurTech integration requires a holistic approach, combining creative thinking, supportive leadership, and industry collaboration. InsurTech not only enhances customer experiences but also holds promise for sustainable business growth through operational optimisation in the Indonesian insurance sector.

Review Of Entrepreneurial Literacy For Optimizing MSME Business Strategy In The Religious Tourism Area Of Sunan Ampel Tomb Surabaya

In this era of globalization, business challenges are increasingly complex along with technological developments and global market access. Entrepreneurial literacy is the main key in dealing with this dynamic, where a good understanding of business strategy is essential for business continuity. Religious tourism areas such as the Tomb of Sunan Ampel Surabaya have great potential as tourist destinations and centers of community economic activity. However, MSMEs in the region are faced with various challenges, such as intense competition, lack of entrepreneurial literacy, and lack of effective business strategy implementation. Ideally, MSMEs in the region should have a high level of entrepreneurial literacy and be able to optimize their business strategies to increase competitiveness and local economic contribution. This study aims to investigate business strategies that can be applied by MSMEs in the religious tourism area of Makam Sunan Ampel Surabaya, by considering entrepreneurial literacy as the main foundation. This research makes a new contribution by examining the relationship between entrepreneurial literacy and MSME business strategies in religious tourism areas, adding insight into the specific context of Sunan Ampel Tomb Surabaya. This research has high urgency because it provides a foundation for the development of MSMEs in the region, increasing their competitiveness, and at the same time supporting the development of religious tourism in Surabaya.This research use desciptive qualitative approach. The research subjects involved MSMEs. Data collection was carried out through observation, interviews and documentation. Data analysis involves data reduction, display, and inference, with triangulation used to ensure validity.The results of research, observations, and interviews show that the research emphasizes the need to improve MSME entrepreneurial literacy in the Religious Tourism Area of Sunan Ampel's Tomb. Effective training and mentorship, with more than 70% of MSMEs involved, encourages business adaptation to uncertainty. Collaboration with entrepreneurship experts and the business community plays an important role. The integration of technology and business networks supports sustainable business growth and supports local tourism. This study summarizes effective strategies to increase entrepreneurial literacy, strengthen the contribution of MSMEs, and safeguard cultural heritage.

Basics of brand building in the banking industry

This article explores the fundamentals of brand building in the banking industry, emphasizing the increasing importance of brand management in a globalized and competitive market. The study delves into the theoretical and practical aspects of brand formation, drawing on insights from scholars such as K. Keller, D. Aaker, and others. It highlights the role of relationship marketing strategies in cultivating customer loyalty and underscores the significance of employees in brand building, particularly in the retail banking sector.
 The research reveals that service quality is a critical factor influencing customer satisfaction and loyalty, with a specific focus on electronic banking services. It discusses the challenges in building and promoting bank brands, including attracting consumer attention, promoting recall, and creating lasting relationships. The article also addresses the evolving landscape of the banking sector, emphasizing the impact of technology integration and heightened competition.
 Corporate image and reputation emerge as key elements in ensuring sustainable business growth, with a positive image contributing to customer retention and loyalty. The study underscores the importance of factors such as reliability, quality, customer orientation, social responsibility, and ethical business conduct in shaping a bank's corporate reputation. Additionally, the article explores the complex nature of service branding in the financial sector, particularly in retail banking, and the challenges associated with valuation and risk assessment.
 The quality of services, especially in electronic banking, plays a crucial role in customer satisfaction, loyalty, and retention. The article highlights the significance of meeting customer expectations and the role of emotional associations in shaping perceptions of service quality. It discusses the impact of trust on customer behavioral intentions, emphasizing the importance of security and risk considerations in electronic banking services.
 In conclusion, the article provides insights into the multifaceted dynamics of brand building in the banking industry, shedding light on the interconnectedness of service quality, customer satisfaction, and brand loyalty.

Strengthening Online Promotions and Improving Service Quality at “Jogja Id Screen Printing”

The development of the printing business in the digital era is increasingly rapid along with high consumer demand for using these services. In order for the business to survive in competition, it is necessary to formulate the right marketing strategy. This community service is carried out to improve the performance of the printing business at Sablon Jogja ID through online marketing assistance activities and improving service quality. Activities are carried out using counseling and training methods. Through attractive online promotional activities and satisfactory customer service, companies can build closer relationships with customers, increase customer satisfaction, and ultimately achieve sustainable business growth in this digital era.

Business Model Innovation to Optimize Revenue Growth in the B2C Sector of Research Service Providing Institution: Case Study at Nano Riset Indonesia

This research explores business model innovation at Nano Riset Indonesia NRI, a leader in nanotechnology research, focusing on enhancing revenue growth in the Business-to-Consumer (B2C) sector. The thesis presents an in-depth narrative of NRI’s business model, critically examining its internal operations and external market environment. Employing a holistic methodology, it blends quantitative and qualitative analyses, utilizing frameworks like VRIO, Porter’s Five Forces, and the Business Model Canvas to evaluate NRI’s position and identify areas for innovation. Key focuses include improving consumer value propositions and strengthening customer relationships, all while maintaining cost efficiency. Central to the thesis is a strategic vision for a reimagined business model, tailored to the unique demands of the B2C market. This proposed model aims to financial improvement but also to cultivate a sustainable business growth and adaptability in the dynamic field of research services.

Introduction Of My Accounting Application to Smes Athif Laundry and Cahaya Laundry in Denokan Village

This community service initiative concentrated on aiding Small and Medium Enterprises (SMEs) in the laundry sector, specifically Athif Laundry and Cahaya Laundry in Denokan Village, Maguwoharjo. The primary goal was to improve human resources development and technological literacy within the local community. The laundry business, crucial for customer service, faced challenges in financial management and technological adaptation. The research emphasized the significance of profit generation for business sustainability, stressing the need for accurate financial records. Introducing the Akuntansi ku application, a digital accounting tool designed to automate transaction recording, the research aimed to empower SMEs in tracking income, expenses, debts, and receivables. The participatory methodology involved a survey, activity implementation, and results analysis. Athif Laundry and Cahaya Laundry were identified as suitable candidates for intervention, lacking financial statement preparation. The activities focused on educating and assisting SMEs in using the Akuntansi ku application, resulting in improved financial record-keeping efficiency, heightened motivation to maintain records, and enhanced organizational structure. In conclusion, the community service successfully equipped both laundries with knowledge and tools for effective financial record management through the Akuntansi ku application, emphasizing the importance of financial statements for evaluation and decision-making. The recommendation is to extend similar programs to other SMEs, promoting technological adoption for sustainable business growth.

Customer profiling, segmentation, and sales prediction using AI in direct marketing

In the current business environment, where the customer is the primary focus, effective communication between marketing and senior management is vital for success. Effective customer profiling is a cornerstone of strategic decision-making for digital start-ups seeking sustainable growth and customer satisfaction. This research investigates the clustering of customers based on recency, frequency, and monetary (RFM) analysis and employs validation metrics to derive optimal clusters. The K-means clustering algorithm, coupled with the Elbow method, Silhouette coefficient, and Gap Statistics method, facilitates the identification of distinct customer segments. The study unveils three primary clusters with unique characteristics: new customers (Cluster A), best customers (Cluster B), and intermittent customers (Cluster C). For platform-based Edutech start-ups, Cluster A underscores the importance of tailored learning content and support, Cluster B emphasizes personalized incentives, and Cluster C suggests re-engagement strategies. By understanding and addressing the diverse needs of these clusters, digital start-ups can forge enduring connections, optimize customer engagement, and fuel sustainable business growth.

Pelatihan Akuntansi dan Pemasaran Digital untuk UMKM Anggota Koperasi SAKTI di Kota Kediri

The activity aims to provide comprehensive accounting and digital marketing training to UMKM members of SAKTI Cooperation in Kediri City. UMKM plays an important role in the local economy, and these activities aim to enhance their financial and marketing capacity to support sustainable business growth. This dedication involves a series of interactive sessions that cover basic accounting concepts, balance sheets and loss reports, as well as digital marketing strategies including social media use, and online advertising. The 45 participants had an opportunity to share experiences, discuss, and identify joint solutions to challenges in their business. The result of this activity is an improvement in the understanding and skills of UMKM members of SAKTI Cooperation in managing their business finances more efficiently. In addition, the program also facilitates the growth of networking and collaboration among the UMKMs present, facilitating their understanding of the broader market potential, and supporting local economic development.

Financial Tools in the Microenterprise Development of La Esperanza Parish

This study focuses on evaluating the relevance of financial tools in the progress of microenterprises in the rural parishes of La Esperanza. Understanding these tools is essential as they go beyond innovation, enabling sustainable business growth. The article highlights crucial instruments such as the balance sheet, income statement, and cash flow, critical to the advancement of any for-profit or non-profit organization. The research adopts a qualitative methodology, supported by deductive, inductive and bibliographic methods. These approaches provide essential information for the development of research. The findings reveal that some companies, when incorporated with the SRI, lack adequate tax management, managing it empirically. Business transactions result in monthly losses, with high or no VAT returns. In addition, the payment of the 2% income tax during the semester is done inadequately due to ignorance of the necessary financial statements. Microenterprises in La Esperanza lack an understanding of financial tools, resulting in an inability to plan for the long term. These findings highlight internal weaknesses, evidencing that financial management is limited to a basic budget, resulting in monthly losses.

Penerapan Digital Marketing dan Promosi Pada Perusahaan PT. Penawar Legenda Maju

In the rapidly developing digital era, digital marketing and promotional strategies have become the core of companies' efforts to achieve success and sustainable business growth. PT Penawar Legenda Maju (PLM), a leading network marketing company in Indonesia, has utilized digital marketing to achieve its business goals. Superior products such as PLMSaipress Drops, MySaipress Capsules, MyAdam, AdamQu Coffee, and BioSaipress Soap have won the hearts of Indonesian consumers thanks to their guaranteed quality and safety. This research uses qualitative methods with a descriptive approach to investigate the digital marketing strategies used by PT. PLM JAYA and analyze the impact of implementing digital marketing on relationships with consumers, company performance and economic development. The research results show that PT. PLM JAYA has succeeded in applying information technology theory efficiently, increasing operational efficiency, interacting with customers via social media, and optimizing digital marketing strategies. Digital marketing and promotions have become a key element in a company's marketing strategy, increasing brand awareness, sales and interaction with customers. By focusing on a specific target market, interesting content, performance measurement, and clear promotional messages, PT. PLM JAYA has succeeded in expanding market reach and achieving success in digital marketing of their products and services. This research provides valuable insights into the integration of information technology in digital marketing and promotional strategies, with practical implications for companies in various sectors looking to achieve competitive advantage in an ever-changing market. Digital marketing and promotions have become the driving force for modern business growth, and PT. PLM JAYA has succeeded in taking full advantage of this potential.

A Comparative Analysis of Entrepreneurship-contributions to Women's Well-being and Sustainability: A Case Study of India and Tunisia

Entrepreneurship is widely recognized as a pivotal force driving profitable growth and sustainability. It serves as a notable avenue for enhancing female participation across various economic strata. In recent years, scholarly attention on women entrepreneurs has burgeoned, challenging the traditionally male-centric discourse within entrepreneurship literature. Female entrepreneurship assumes a crucial role in fostering economic development and sustainability. This study contributes to the expanding body of literature on women's entrepreneurship by providing a theoretical framework elucidating the contemporary status of women entrepreneurs in India and Tunisia.
 Employing a cross-sectional research design, the study employed both quantitative and qualitative methodologies, utilizing surveys and focus group discussions to gather data. The sample comprised 160 participants, including 80 women entrepreneurs and 80 non-entrepreneurs from both India and Tunisia. Analysis of the data was conducted using SPSS and MS Excel.
 The findings underscore that women entrepreneurs exhibit enhanced well-being compared to their non-entrepreneurial counterparts. This underscores the significance of well-being not only in the development of women entrepreneurs but also in fostering societal sustainability. The implications of the study extend to providing evidence-based recommendations for advancing women's entrepreneurship in India and Tunisia. Key recommendations include governmental involvement in alleviating challenges impeding women in business and facilitating funding opportunities to ensure sustained business growth.

INNOVATIVE BUSINESS MODELS DRIVEN BY AI TECHNOLOGIES: A REVIEW

In an era where artificial intelligence (AI) is revolutionizing business paradigms, this study delves into the intricacies of AI-driven business models, offering a nuanced understanding of their emergence, evolution, and impact on traditional business strategies. This scholarly inquiry aims to dissect the role of AI in reshaping business models, highlighting the interplay between technological innovation and business strategy. The study meticulously examines the integration of AI into various business facets by employing a systematic and thematic analysis of a diverse range of literature, including academic journals, industry reports, and case studies. This methodological approach facilitates a comprehensive understanding of AI's role in business innovation, addressing both the opportunities and challenges it presents. The findings reveal that AI-driven business models are characterized by enhanced operational efficiency, data-driven decision-making, and customer-centric approaches. These models signify a transformative shift from conventional business strategies, demanding a reevaluation of leadership roles and ethical considerations in the digital age. The study identifies key challenges in AI implementation, such as technical complexities and ethical dilemmas, while uncovering AI's vast opportunities for business growth and competitive advantage. Conclusively, the study recommends a balanced approach to AI integration, emphasizing the need for ethical AI practices, continuous adaptation, and a synergy between AI capabilities and human insights. It advocates for business leaders to embrace AI not just as a technological tool, but as a catalyst for sustainable and innovative business growth. This scholarly work contributes significantly to the discourse on AI in business, providing a foundational framework for future research and practical application in AI-driven business innovation. 
 Keywords: Artificial Intelligence, Business Models, Digital Transformation, AI Integration, Leadership in AI, Ethical AI Practices.

Do emissions reduction initiatives improve financial performance? Empirical analysis of moderating factors

PurposeThis study aims to examine the relationship between carbon reduction initiatives and financial performance. Additionally, it explores potential moderating variables, such as corporate social responsible (CSR) strategy and corporate governance practices, that may strengthen the link between carbon reduction initiatives and financial performance.Design/methodology/approachThe empirical analysis is conducted using 1,740 firm-year observations from UK firms listed on the FTSE 350. Data on carbon emissions and firm-specific characteristics are obtained from the Refinitiv Eikon database for the period 2011–2020. Various econometric techniques, including ordinary least squares and system generalized method of moments, are used to examine the relationship between carbon reduction initiatives and financial performance. Additionally, alternative samples are used to further explore this relationship.FindingsThe author observes a significantly positive association between carbon reduction initiatives and financial performance in this study. Additionally, the significance of this relationship is found to be present specifically after the announcement of the Paris Agreement. Furthermore, a channel analysis reveals that moderating factors like CSR strategy and corporate governance quality influence this relationship.Practical implicationsThe study underscores the importance of carbon reduction initiatives for sustainable business growth and financial performance. Managers can use these insights to prioritize investments in sustainable practices. Policymakers should consider implementing supportive regulations to incentivize companies to adopt carbon reduction strategies.Originality/valueThis study adds value to the existing body of literature by empirically examining the moderating role of CSR strategy and best corporate governance practices in the relationship between carbon reduction initiatives and financial performance. The findings contribute to a deeper understanding of how these factors interact and influence the outcomes.

Apprenticeships and sustainable growth of family businesses: A regional assessment

A practical government policy on apprenticeship is a requirement to continuously advance and encourage the company toward top performance and adaptability for a long-term sustainability. In Nigeria, which has a significant young unemployment problem, apprenticeship has emerged as a key to reducing youth unemployment. Thus, sustainability of family businesses is a source of employment, and continuing apprenticeship practices have also raised the likelihood that an individual will obtain employment in the southern regions of Nigeria. This study aimed to examine how job creation, vocational and technical training, and apprentice competences aid in sustaining family business growth in southern Nigeria. The study adopted a cross-sectional survey and stratified sampling technique; a sample included 329 apprentices in 48 SMEs in southern regions of Nigeria. Using a five-point Likert scale questionnaire, data were analyzed using a normality test, linearity test, and multicollinearity test to ascertain the adequacy of the data. Correlation analysis was used to test the hypotheses. Findings revealed that job creation is related to sustainable family business growth; however, the strength of the correlation, though weak (30.0%), was statistically significant; a significant degree of association also existed between apprentice vocational training and sustainable family business growth; lastly, apprentice competences relate significantly to sustainable family business growth (72.1%, p < 0.05). The study concluded that continuous apprenticeship practices influence the objective of business growth as a pivot for socioeconomic development and a long-term sustainability of family businesses. Acknowledgment The authors would like to sincerely appreciate the Editor-in-Chief and Reviewer(s) for their helpful comments that, in our view, have helped significantly to improve the quality of the manuscript.

Social-economic factors affecting small business performance among chisokone marketers in Kitwe district of Copperbelt Province, Zambia

Globally, marketers are increasingly recognized as important drivers of economic growth and are widely accepted as key aspect of economic dynamism. Small businesses are a driving force not only for economic growth, but also poverty reduction through job creation. Industrialization and economic growth come from small businesses that grow to big industries. Therefore, the study aimed at assessing socio-economic factors affecting small business performance among Chisokone marketers in Kitwe district of Copperbelt province, Zambia. The study employed both the qualitative and quantitative methods and a descriptive survey design that sampled council members for Kitwe district and Chisokone market marketers. Data was obtained from the respondents by means of interviews and questionnaires. Frequency tables, graphs, figures and pie-charts were used to analyze the qualitative and quantitative data. Data was also analyzed by the use of softwares; Statistical Package for Social Sciences (version 26) and Microsoft Excel (version 16). The results showed that most respondents had a strong feeling that there were factors affecting business growth in a negative way such as SMEs financing. The findings also revealed that majority of SMEs (53%) were not legally registered. Many businesses fall under sole proprietorship and the main source of finance or capital is from the family and friends. 77% of SMEs stated lack of collateral which hampers business operations resulting in unwillingness for banks to finance them; 63% lacked business management experience and 85% lacked technological advancement to enhance the overall performance. Despite marketers’ willingness to do business, crucial social economic factors such as access to finance, market demand and infrastructure are lacking. The study therefore recommended that sustainable policy interventions or technical support should be provided by government or non-governmental organizations to ensure small scale sustainable business growth.