Today's Business World Research Articles

Green Washing and Brand Crises: Modelling Consumer Trust Repair

This study proposes an innovative approach to rebuilding consumer trust following the negative impact of greenwashing, which often leads to a conflicted relationship between corporations and consumers. Through a novel integration of previously unconnected concepts, such as trustworthiness dimensions (Integrity, benevolence, and competence), credibility, empathy, forgiveness, consumer trust repair, revived brand equity, and repurchase intention, this study offers a nuanced and enhanced understanding of the consumer trust repair process. The current research seeks to integrate disparate concepts and theories into a cohesive whole, resulting in a modified version of the consumer trust repair process. Prior studies have examined the phenomenon of consumer trust repair in a relatively narrow and parochial manner and have failed to provide a holistic process-based model. This study, however, attempts to provide a comprehensive, process-based model of consumer trust repair. Through this holistic approach, this research makes a valuable and meaningful contribution to the field of consumer trust repair, providing brand managers with a deeper understanding of the consumer trust recovery process, which has been largely ignored in previous studies. This unique and comprehensive approach will surely capture readers' attention, as it offers a fresh perspective on a crucial issue facing the business world today.

Sale Purchase Agreement Through Instagram: How Is The View Of The Civil Law?

Introduction: Technological developments have an impact on today's business world, which is buying and selling activities carried out through Instagram.Purposes of the Research: The purpose of this study is to examine the perspective of civil law books regarding the phenomenon of buying and selling via Instagram and analyzing the best solution so that buying and selling activities via Instagram do not violate the law.Methods of the Research: The method in this study is normative juridical which uses a library approach. In answering the formulation of the problem, the juridical basis is used, namely the civil law code book and the theoretical basis, namely modern contract law theory.Results of the Research: Based on research results, buying and selling activities via Instagram are very difficult to fulfill the legal requirements of an agreement as stipulated in the civil law code. This has also led to many cases of law violations through Instagram. Therefore, it is necessary to apply the principle of good faith in the buying and selling process on Instagram.

Digital marketing in West Bengal tourism – A case study

‘Ignoring online marketing is like opening a business but not telling anyone’. The role of digital marketing is quite essential in the business world today. Raja, a consultant for DSMM agency, is given a task to assess and audit the digital handles of the website of WBTDCL, a government agency that promotes tourism and travel in West Bengal, an eastern state of India. This case study describes the tourism background, scenario, prominent destinations of West Bengal, expectations of the client, findings of the professional team and provokes the reader on how to create a web persona for the target audience, to chart out a customer journey map, to identify the top travel and tourism influencers and to develop an online customer experience pyramid.

Role of Ethical Decision Making in Business on Corporate Branding: An Empirical Study

In today's business world, ethical decision-making is incredibly important in determining corporate branding. Customers are more inclined to choose companies that coincide with their values as they become more aware of the social and environmental effects of the goods and services they purchase. As a result, businesses that place a high priority on moral and ethical and ethical judgment and social responsibility can enhance their brand name and win over customers. Additionally, customers are prepared to pay more for goods and services from brands they trust, therefore having a strong brand image can benefit a business' financial performance. On the other hand, unethical conduct or a lack of social responsibility can harm a company's brand name, which can result in lost sales and unfavorable press. Businesses must convey their beliefs to their stakeholders and make moral and ethical decisions that are consistent with those principles. To do this, the organization's leadership must be committed, transparent, and accountable. Businesses that prioritize moral and ethical judgment and inform customers of their social responsibility initiatives can set themselves apart from rivals and foster enduring brand loyalty. In conclusion, making ethical decisions is crucial for establishing corporate branding and can be a major factor in a company's success in today's socially conscious market.

Smart Baby Cradle using Sensor Technology

Abstract: In today's busy world, it can be challenging for people to care for an infant around the clock, especially for working parents. As a result, many children are looked after by grandparents, housemaids, or babysitters during the day. In our research, we have proposed a highly efficient and user-friendly technology that utilizes IoT technology for detecting baby crying through a sound sensor and playing a lullaby through speakers. Additionally, an app-controlled servo motor has been integrated into the baby cradle, and a wet sensor has been used to alert parents about their baby's diaper status through in-app notifications.

An Implementation on User Centered Website Using Customer Segmentation

Abstract: The days when we ran our company based on assumptions and presuming that all of our consumers had similar demands are long gone. To have high customer retention and increase sales in the rapidly evolving business world of today, we need to know our clients inside and out. Customer segmentation is a tried-and-true strategy for achieving this. Businesses can better utilize their marketing budgets by segmenting their markets. They can also get an advantage over rival enterprises and, most importantly, show that they have a better understanding of their customers' needs and wants. Customer segmentation is the process of grouping your consumers according to shared traits like habits or demographics so you can market to them more successfully. In order to keep customers and make money from them, customer segmentation has become very popular in recent years. In the study that follows, customers of various organizations are categorized according to their behavioral characteristics, such as spending and income. By taking behavioral factors into consideration, these methods are more effective than others. Customers are categorized based on behavioral characteristics using a machine algorithm known as the k-means clustering method. Using such clusters, the business can target certain clients and offer the material to them through advertising campaigns and social media platforms that they are truly interested in.

Customer Loyalty in Spa Tourism: A Case Study

In today's business world, acquiring and retaining customers in the tourism industry is becoming increasingly challenging. High competition, constantly changing markets, and growing customer demands require constant adaptation to new trends and marketing innovations. It is crucial to cultivate customer loyalty, as it leads to repeat business and positive word-of-mouth promotion. Achieving this goal is an increasingly difficult task that requires innovative approaches to service marketing. Tourism includes very specific sub-sectors that are significantly different from the mainstream of the industry and serve not only well-being but also other needs. An example of a sub-sector that combines well-being and health is spa tourism. Existing studies suggest that factors influencing the loyalty of health spa visitors may vary depending on the region and cultural factors and may also change over time. Further research is therefore needed to precisely identify which factors are currently most important for promoting the loyalty of spa customers. This article presents a case study of increasing customer loyalty, with a special focus on the Czech Republic. The study identifies the current needs, preferences, and requirements of customers in the selected tourism industry. The article aims to complement a model of visitor loyalty for the needs of spa tourism and introduce marketing tools that currently influence customer loyalty in spa tourism. The complementation of the model is based on the generally accepted model of customer satisfaction in tourism. The proposed suggestions can inspire tourism businesses to fulfil the needs of health, active living, and well-being by effectively acquiring and retaining customers in a highly competitive environment. The study provides theoretical and managerial recommendations for increasing customer loyalty. The study is based on a questionnaire survey conducted in 2022 among spa visitors throughout the Czech Republic. The motivation was to identify key factors that support customer loyalty. The results show that specific treatment effects and procedures, information and personal experience, a pleasant environment and ambience of the spa contribute more to loyalty than satisfaction with accommodation or the offer of complementary services. The paper also provides a set of practical recommendations for setting up marketing programs and improving marketing communication for owners and managers of spa tourism.

Is corporate social responsibility more valuable in disrupted industries?

PurposeThe business world today is witnessing ever-growing disruption. This study highlights corporate social responsibility (CSR) as an effective strategy for firms in disrupted industries to consider in order to differentiate themselves and to increase their chance of survival facing disruption.Design/methodology/approachIn this study, the authors test the hypotheses using a multilevel modeling (MLM) design to capture the group and intergroup effects at the industry level and at the firm level. The empirical analysis is based on a panel sample of 1,193 firms over the 10-year period from 2010 to 2019.FindingsThe empirical analysis indicates that CSR has a positive impact on corporate financial stability and the effect is especially significant for firms in disrupted industries. Further investigation suggests that this positive effect largely runs through traits of the social pillar, such as human rights, employee relations, customer protection, product responsibility and community impact. The results are robust after controlling for other firm-specific characteristics and after addressing endogeneity concerns.Originality/valueThis study examines whether, and through which channel, CSR helps enhance corporate financial stability and mitigate bankruptcy risk in disrupted industries. To the best of the authors' knowledge, this study is the first attempt to explore the use of CSR as an effective strategic response to disruption. Further analysis indicates that the social capital built through CSR plays an important role in helping enhance corporate financial stability.

CULTURAL BUSINESS ETHICS FROM ISLAMIC BUSINESS MODEL AND CURRENT TRADING CHALLENGES

There can be no rule of law, societal reform, common interest, or economic growth without the practice of ethical business practices. Muslims in today's fast-paced business world face difficult choices and could benefit from a more refined understanding of the Islamic business model. The global financial crisis may have been avoided if business ethics were more prominent and practiced. For Islamic finance to live up to its claims of providing worldwide financial security and high standards of ethics, it must be reflected in all parts of behavior. This will lead to a more moral and spiritual society as a whole, and when this is combined with the creation of goods and services, it will further the Islamic way of life. From its beginning, Islam—a major religion in the world—prescribed necessary norms and principles for all aspects of life, including economic and business dealings. The goal of this study is to examine Islamic business ethics as a lens through which to examine cultural business practices. Current trading difficulties are also examined in this article. This article also delves into Islamic ideas on business, as well as the guiding principles and legal frameworks of Islam. The data used to explain the Islamic business model and ethics to help traders and businessmen succeed in the current challenging economic situations come from the Qur'an, Hadith, jurisprudence, biography of the Holy Prophet (PBUH), Islamic history, and quips of the companions of the Hazrat Muhammad (PBUH).

Diversitas Dewan Komisaris dan Pengaruhnya Terhadap Tingkat Pengungkapan Manajemen Risiko Perusahaan

One of the challenges facing the business world today is vulnerability to unwanted risks. For this reason, a comprehensive risk management system is needed to mitigate bad things and increase stakeholder confidence in the company. The leadership structure of Indonesian organizations that adheres to the two-tier concept by separating the roles and responsibilities of Commissioners and directors causes the board of Commissioners and directors to also carry out internal control functions. This leadership structure involves the commissioner's role in terms of risk management disclosure. On the other hand, the issue of diversity in public companies in Indonesia is a factor that affects the complexity of alternative decision-making that affects the disclosure of risk management. This study will examine the effect of diversity of Commissioners such as age, gender, and educational background on the level of disclosure of Corporate Risk Management. This study will take a sample of state-owned companies in Indonesia that are registered as members of the IDX during 2018-2019. This study will use the size of the company as a control variable. The analysis technique used is multiple regression analysis with a significance level of 5%. This study concluded that age diversity had no effect, while gender diversity and educational background diversity of company commissioners had an effect on risk management disclosure. This study shows that in addition to government regulations that have not been fully implemented on risk management disclosure obligations, it also shows that the background of the board of commissioners can affect the level of disclosure of the company's risk management in general. Transparency of risk management information will affect the level of confidence of investors and external stakeholders in the resilience and ability of the company in the face of uncertain situations.

The Influence Of NPM, EPS, Tattoos On Stock Price Of Banking Companies Listed On The IDX For The 2020-2022 Period

In today's business world, which is developing rapidly, many investors are interested in investing their funds in stocks because it promises higher returns, both from dividends and capital gains. Before investing, an investor must know and choose which stocks can provide optimal returns for the funds invested. The capital market is a place for buying and selling transactions of various long-term instruments, including stocks. This study aims to empirically test and prove the effect of NPM, EPS, and TATO on stock prices for the 2020-2022 period. The following research uses a quantitative approach and multiple linear regression analysis with data processing using the tools of the Stata 15 program. The sampling method uses a purposive sampling technique. The sample of this research consisted of 18 companies. The results of the study by conducting the t-test showed that the NPM and TATO variables did not have a significant effect on stock prices, with an NPM probability value of 0.224; TATO with a probability value of 0.807, while the EPS variable has a significant effect on stock prices, with a probability value of 0.034, meaning that this value when compared to the ???? value, which is 0.05, is less significant. The f test states that the NPM, EPS, and TATO variables simultaneously influence stock prices based on a probability value of 0.0058, which means it is smaller than ???? of 0.05.

Pengaruh Penggunaan Sosial Media dan E-Wom terhadap Keputusan Pembelian di Mediasi Kepercayaan (Studi pada Smartphone Xiaomi Daerah Istimewa Yogyakarta)

The rapid development of the business world today causes companies to face intense competition. This research is classified as a type of quantitative research method, using a purposive technique. The results of the study are as follows. The use of social media has a positive effect on purchasing decisions for Xiaomi Smartphones with a p value of 0.031 < 0.05 1.65. E-wom has a positive effect on purchasing decisions for Xiaomi Smartphones with a p value of 0.033 < 0.05. The use of social media has a positive effect on trust with a p value of 0.015 <0.05. EWOM has a positive effect on trust with a p value of 0.030 <0.05. Trust has a positive and significant impact on purchasing decisions with a p value of 0.010 <0.05. Social media has a positive effect on purchasing decisions mediated by trust with a p value of 0.047 < 0.05. EWOM has no positive effect on purchasing decisions mediated by a p value of 0.096 > 0.05.

Comparative analysis of tourism indicators for Croatia and selected competitive countries

An increasing number of countries are investing in the development of tourism, thus becoming a key driver of socioeconomic development. The effects of tourism are realized through foreign exchange revenues, job creation, and the development of local and national infrastructure. As an international trade service, inbound tourism has become one of the world's major trade categories. Tourism in Croatia is considered an important investment driver and a generator of growth in the national economy. Addressing and development on a competitive basis are determined by the unfavorable macroeconomic environment and business climate in the country. Today's business world is characterized by accelerated development and competitiveness of companies that must stimulate profitable development, measure value creation and continuously learn from success, because only such companies can succeed. The aim of the paper is to show the economic effects of tourism and show the position of Croatian tourism in relation to competitive countries, in order to confirm the hypothesis that Croatia is a strong competitive country.

RFID Based Smart Trolley for Automatic Billing System

Despite the existence of e-commerce, people still prefer to purchase a large number of goods exclusively in supermarkets and shopping centres for their personal enjoyment. Following the queue through the billing process is one of the challenges experienced by clients. Although they just intend to purchase one or two items, waiting for the merchandise to be billed takes time and is inconvenient in today's busy world. According to our survey, supermarkets with high consumer traffic spend a lot of money and time on each customer. The store owners are prepared to accept any intelligent devices that automate the billing process in order to lower the amount of labour and time required for that operation. By completing the billing procedure in the trolley rather than standing in line even for a few items, the major goal is to please the consumer while also shortening the time required for the billing process. After a brief scan, the clients must add the items to the cart, and after they have, the total will be shown there. Customers had two options for paying their bills: using their ATM cards or a pre-recharged customer card that the store offered. In addition to providing protection to deter theft, we have made it easier for users who unintentionally place their projects in the trolley by alerting them. In order to satisfy the needs of both customers and shopkeepers, our ultimate goal is to reduce the time spent waiting in lines while maintaining customer satisfaction, reducing the monotony of barcode scanning, and doing away with the waging of billers.

Information Technology Investment Benefit Analysis Using the Cost Benefit Analysis Method and Ranti's Generic IS/IT Business Value Method

The rapid development of technology affects society. The development of information technology affects the business world today. To overcome all this, companies need breakthroughs by utilizing technology, namely e-commerce. Every organization or company needs to make information technology investments to be able to ensure better performance. The purpose of this study is to find out the benefits resulting from the investment in information technology in the form of online shopping applications by one fashion retail company in Indonesia, namely PT. XYZ. Information technology investment calculation methods used in this study are the financial statement comparison analysis method, Ranti's generic IS/IT business value method, and the cost-benefit analysis method. Through calculations that have been carried out using Ranti's generic IS/IT business value method and the cost-benefit analysis method, it has been determined that the information technology investment is beneficial for the company.

How to explain stock returns of utility companies from an environmental, social and corporate governance perspective

AbstractSustainability is a major challenge in today's business world, making environmental, social and governance criteria an indispensable tool for business management and investment decisions. Using 2020 data of 47 companies from the STOXX Europe Total Market Utilities Index and qualitative comparative analysis, this study aims to analyse how the combination of CO2 equivalent emissions, sustainability compensation incentives, environmental investments, environment management training, and policy fair competition leads to utility companies' stock market returns. Two subsample models (electricity and non‐electricity utilities) have been considered in the study. The results point to the absence of CO2 equivalent emissions, the absence of incentives, and the presence of environmental investment as key variables to lead to stock market returns. The findings provide relevant information for managers and practitioners of utilities industry to achieve improvements in the environmental, social and governance management practices, maintaining profitability in financial markets and facilitating decision‐making for investors.

Mining Competitors and Finding Winning Plans Using Feature Scoring and Ranking-Based CMiner++ Algorithm

For a business to succeed, it is very important to make things speaking more to clients than to rivals. It is more critical to decide on the significant feature of an item which influences its competency. In spite of the works that have been done already, a few algorithms gained efficient solution. This paper proposes the CMiner++ Algorithm to assess the competitive relationship among items in unstructured dataset and finding the Top-K competitors of a given item. Definitively, the nature of the outcomes and the versatility of this methodology utilizing numerous datasets from various areas are assessed, and the efficiency and adaptability of this algorithm on various data sets are improved when compared to existing algorithms. In today's busy world, automatic recommendation systems are emerging because people are looking for the products best suited for them. So, it is very important to analyse the behaviour of people, make a review on large and large unstructured data sets, and make the fully automated deep learning system to ensure the accurate outcome.

From Chaos to Control: The Power of Master Data Management

In today's fast-paced business world, data is king. Companies rely on data to make informed decisions, improve operations, and drive growth. However, as data becomes more and more abundant, it can also become increasingly difficult to manage. Leveraging Master data management (MDM) can handle this in seamless way. MDM is a strategy and set of tools used to centralize, standardize, and govern an organization's critical data. It allows companies to gain control over their data and turn chaos into order. In this article, we will explore the power of master data management, and how it can help organizations to improve efficiency, drive growth, and make better decisions. We will also discuss the key components of an effective MDM strategy and the tools and technologies used to implement it.

Cross-Sectional Study of Serum Vitamin B12 and Vitamin D3 Levels Amongst Corporate Employees.

Background In today's busy world, health is often neglectedespecially among full-time workers.Consequently, lifestyle disorders such as vitamin deficiencies are increasing, perhaps because of inadequate nutrition and lack of sunlight due to long hours working indoors. These deficiencies can lead to various short-term and long-term complications. Objective To estimate serum levels of vitamin B12 and vitamin D3 among vegetarian employees. Methods and materials A questionnaire about dietary and exercise habits was administered to participants who fulfilled the inclusion criteria and provided informed written consent. Participants also were asked about drug and supplement intake, history of smoking and alcohol, specific symptoms of vitamin B12 and D3 deficiency, and sociodemographic status. Blood samples were collected to estimate serum B12 and D3 levels. Results The results indicated that 14.00% of participants were vitamin B12 deficient and 82.00% were D3 deficient. Differences by gender were not statistically significant; vitamin B12 deficiency was identified in 10.00% of women and 14.44% of men, and vitamin D3 deficiency occurred in 100.00% of the women and 80.00% of men. Among 71 participants aged 35-45 years, 15.49% and 91.55% were deficient in B12 and D3, respectively; among 25 participants aged 46-55, 12.00% and 64.00% were deficient in B12 and D3, respectively; among four participants older than 55, no vitamin B12 deficiency was observed, but 25.00% were deficient in vitamin D3 (p=0.00002). Nearly all (96.15%) participants who reported never exercising were found to be vitamin D3 deficient, compared to 77.02% of those who exercised (OR=0.13, p=0.043). No significant association was found between alcohol consumption and vitamin B12 (p=1) or D3 (p=0.713) deficiency. Conclusions The results revealed a prevalence of both vitamin B12 and D3 deficiencies among corporate employees who identified as vegetarians. Increased awareness, dietary modifications, conscious physical activity, and most importantly, attention to one's health may help improve vitamin sufficiency. Women over age 45 should pay particular attention due to their increased risk of vitamin D3 deficiency. Further research is needed to assess nutrition profiles among other populations to better understand vitamin deficiencies and design adequate preventive measures.

“Key Performance Indicators (KPIs), Key Result Indicator (KRIs) and Objectives and Key Results (OKRs)” A New Key Incorporated Results (KIRs) Approach

In today's business world, it is essential to have clear and concise ways of measuring the success of an organization. Key Performance Indicators (KPI), Key Results Indicators and OKR are three popular metrics that can help organizations track their progress over time. These measures can be extremely useful for setting goals and measuring the results of an initiative. However, it is important to keep in mind that none of these methods is perfect and can be misleading at times. With that being said, it is important to understand how and when to use each method in order to get the most out of them. Key Performance Indicators (KPIs) are quantifiable measures that gauge a company's performance against a set of targets, objectives, or industry. Key Results Indicators (KRIs) measure the actions and events leading to a result. while Objectives and Key Results (OKRs) are used to measure progress towards goals. Key Incorporated Results (KIRs) are a combination of KPIs, KRIs, and OKRs that provide an overall view of performance. In this research, the researcher has developed main components for applying Key Incorporated Results (KIRs) properly which consists of (Process Auditing- Strategic Alignments analysis- Agile Concept- P3M3 model). Keywords: Key Performance Indicators (KPIs)- Key Result Indicators (KRIs) Objectives and Key Results (OKRs)- Key Incorporated Results (KIRs) DOI: 10.7176/IKM/13-2-01 Publication date: February 28 th 2023