Today's Competitive Environment Research Articles

Predicting Customer Loyalty in the Airline Industry: A Machine Learning Approach Integrating Sentiment Analysis and User Experience

Ensuring customer loyalty is crucial for the success of any airline service provider in today's competitive environment. This study employs machine learning techniques to predict the likelihood of customers revisiting airline services, emphasizing the role of emotional connections in fostering loyalty. By analyzing feedback comments and satisfaction ratings, we explore how sentiments expressed by customers correlate with their propensity to return. Using sentiment analysis and features extracted through the Linguistic Inquiry and Word Count (LIWC) methodology, we categorize sentiments into various dimensions, integrating these with user experience (UX) elements for a comprehensive predictive model. Our methodology includes a robust data collection process, involving an initial survey of 17,000 valid responses and a follow-up survey one year later. We evaluate multiple classifiers, including Decision Tree, Random Forest, and XGBoost, through five-fold cross-validation. Results reveal that XGBoost achieves the highest accuracy of 85% in predicting return visits, highlighting the predictive power of machine learning in understanding customer behavior. These findings offer significant insights for airlines, enabling them to tailor services and strategies to enhance customer satisfaction and loyalty. Our study underscores the importance of sentiment analysis and UX in predicting customer loyalty, providing a roadmap for future research and practical applications in the airline industry.

Considering sustainability and resilience in a location-routing problem

Purpose: Sustainability and resilience have emerged as two important topics. Consumers and governmental entities are becoming increasingly aware of the existing environmental and social issues, motivating companies to adopt more sustainable practices. In addition, the uncertainty and unpredictability that characterize today's competitive environment force companies to be able to handle disruptions efficiently. Despite this, when looking at some classes of problems in literature, cost is still the most, or even the only, objective addressed. This work analyses the integration of sustainability and resilience concerns in a class of problems that is often found in logistics, the Location-Routing Problem (LRP).Design/methodology/approach: A multi-objective LRP is addressed with the following objectives: minimization of the total cost of the logistics network, minimization of the environmental impact of CO2 emissions, and maximization of the resilience of the distribution network. Aiming to explore the effect that designing a more sustainable and resilient distribution network can have on its operating costs, the ?-constraint method is applied.Findings: Results show that resilience and environmental impacts, from a practical point of view, should not be considered in isolation, as they can have significant impacts on costs. Nevertheless, it is conceivable to design logistics networks that ensure a good compromise between operating costs, environmental impacts, and resilience to disruptions.Originality/value: This paper is an exploratory study addressing a new type of location-routing problem which, besides the usual cost objective, considers sustainability and resilience as objectives. The paper evaluates the sensitivity of the costs of logistics networks to the improvement of their resilience and sustainability. A new multi-objective formulation is proposed for this class of problems, tested in instances based on real-world data. The paper may provide important managerial insights for designing sustainable and resilient logistics networks.

A comprehensive analysis of knowledge management role in developing business performance

There is a lack of information about KM's comprehensive influence on total corporate success, even with the field's relevance in modern business settings increasingly acknowledged. To overcome this gap, this research explores the complexities of KM and how they affect the performance of organizations. Knowledge Management (KM) has become one of the most well-known contemporary leadership strategies. A rigorous strategy was used to conduct a thorough examination of the relationship between KM techniques and company performance. The research uses a combination of qualitative and quantitative methodologies, such as instances, questionnaires, and data analysis to provide a comprehensive comprehension of the topic. The results show how KM contributes in many ways to corporate effectiveness. Determine the essential KM techniques that have a substantial influence on a range of organizational success factors, such as decision-making and innovation as well as operational effectiveness. For companies seeking to maximize their KM tactics for improved performance, the findings provide insightful information. The study findings have practical relevance for firms seeking to improve overall performance in today's competitive and dynamic business environment by strengthening their KM activities.

The Impact of E-Marketing on Consumer Satisfaction during Pandemic Time

During the pandemic, E-marketing was of great importance to enterprises in general. Digitized enterprises or enterprises that have been digitized during the pandemic have managed to develop their work processes without stalling in their development. At the time when everything stopped working, the companies that had already digitized processes within their companies were managing to cope with the situation that had gripped the whole world. The approach of enterprises in the time of the pandemic has greatly influenced the perception and importance of the digitalization of enterprises in the daily work processes. Communication, process management, and employee management have been a key factor in not stalling processes, ie in maintaining the health of employees of those enterprises. As a result of the COVID-19 crisis, the majority of business executives have ordered their organizations to digitize at least a portion of their operations to safeguard workers and cater to clients who are experiencing limited mobility. We have all watched what is undoubtedly going to go down in history as the widespread adoption of digital access to services and remote work, even though many doubters have not recognized this as a viable prospect. Online ordering and delivery have become the primary business of grocery businesses. In many nations, the emphasis in schools is entirely on online education. Plans for "online" supply chains and factories are being actively developed by manufacturers. Although in some regions the masses have started to reopen and businesses are opening, many businesses are still considering digitalization and further development of their internal processes as a priority. Customer satisfaction is one of the greatest assets of any business, including e-business in today's competitive environment. Several factors can help e-businesses to build a base for their customers. It undoubtedly includes service and customer satisfaction which can be the determinants of success.

Assessing the Effect of Compensation Packages, Work-Life Balance Policies, and Career Development Opportunities on Employee Retention: A Case Study of MSME Employee

In today's competitive business environment, Micro, Small, and Medium Enterprises (MSMEs) face significant challenges in attracting and retaining top talent. This study examines the impact of compensation packages, work-life balance policies, and career development opportunities on employee retention within MSMEs. Using a quantitative research design and Partial Least Squares Structural Equation Modeling (PLS-SEM), data from 300 respondents were analyzed to explore the relationships between these factors. The findings reveal significant positive relationships between compensation packages, work-life balance policies, career development opportunities, and employee retention. These results highlight the importance of strategic investments in human capital and the creation of conducive work environments to foster employee loyalty and commitment within MSMEs.

Driving Business Growth from Research to Innovation in The Deployment of Business Intelligence

This research evaluates a company's development and performance based on its intelligence and BI utilization. A study using quantitative poll data from numerous firms examines the relationship between leveraging business knowledge, promoting innovation, and important performance metrics. The findings demonstrate that BI adoption and receptivity to new ideas improve corporate development. Companies that invest heavily in business intelligence (BI) programmes and foster innovation generally outperform their rivals in sales, earnings, and market share. Creative thinking and business knowledge are crucial to corporate success, according to the findings. These gives workers’ suggestions on how to work faster and more creatively. More research, sector-specific analysis, and continuing studies are needed to determine how innovation culture and BI adoption effect firm performance. Finally, this research adds to what is already known about how BI adoption and innovation culture effect firm performance in today's competitive business environment.

Machine Learning-Based Sales Prediction and Inventory Management for Grocery Stores

In today's competitive grocery retail environment, effective inventory management coupled with precise sales prediction is pivotal for success. This research undertakes an in-depth exploration into a machine learning framework tailored for "Sales Forecasting and Inventory Optimization in Grocery Retail." Utilizing historical sales records, meteorological data, and consumer behavior metrics, the proposed model endeavors to predict nuanced seasonal demand fluctuations. The primary value proposition of this approach lies in its capacity to curtail wastage, ensuring the balance between overstocking and inventory stockouts. By recognizing and adjusting for seasonal dynamics, the system offers enhanced demand fulfillment during high-demand periods. The subsequent refinement of the replenishment cycle fosters superior operational efficacy. As an outcome, businesses witness cost reductions, augmented profit margins, and elevated consumer contentment due to consistent product availability. As the broader grocery sector undergoes transformation, embedding sophisticated machine learning strategies can be a linchpin for sustained adaptability and competitiveness. This research further underscores the role of emergent technologies, such as machine learning within the IoT spectrum, in reshaping supply chain and communication paradigms. The endeavor here is to curtail lifecycle expenses in the supply chain by refining inventory practices. The research introduces a Deep Inventory Management (DIM) technique, employing the LSTM paradigm of deep learning. Through DIM's innovative approach, time-series challenges are reimagined as supervised learning tasks, enabling efficient model training. Preliminary tests indicate DIM's prediction accuracy hovers around 80%, translating to an impressive 25% reduction in inventory expenses when juxtaposed with prevailing methods, alongside rapid anomaly detection in inventory activities

IMPACT OF EMPLOYEE SKILL DEVELOPMENT PRACTICES ON EMPLOYEES JOB SATISFACTION AT (THE AEC ASSOCIATES)

This master thesis of Strategic Human Resource (HR) Management, focusing on Impact Of Employee Skill Development Practices On Employees Job Satisfaction. This research explores the relationship between employee skill development practices and job satisfaction within the context of “THE AEC ASSOCIATES” Noida, a leading organization in its industry. In today's competitive business environment, organizations recognize the significance of investing in their employees' skill development to faster a talented and motivated workforce. Likewise, employee job satisfaction remains a crucial determinant of organizational performance and employee well-being. The study employs a mixed-methods approach, combining quantitative surveys and qualitative interviews, to examine the existing skill development practices at THE AEC ASSOCIATES Noida and assess their impact on employee job satisfaction. Quantitative data analysis includes descriptive statistics, correlation analysis, and regression analysis, while qualitative data from interviews is analyzed thematically. Findings indicate a positive correlation between effective skill development practices and employee job satisfaction. Employees who perceive their organization's investment in their skill development positively exhibit higher levels of job satisfaction. The study also uncovers key factors influencing employee satisfaction, including the availability of training programs, career advancement opportunities, and supportive organizational culture. The research offers practical implications for HR practitioners and organizational leaders, suggesting recommendations for enhancing employee skill development practices to improve job satisfaction. By understanding the dynamics of skill development and job satisfaction, organizations like THE AEC ASSOCIATES, Noida can optimize their talent management strategies to foster a culture of growth, engagement, and fulfillment, thereby positioning themselves for sustained success in a dynamic business landscape.

The Impact of Employees’ Health and Well-being on Job Performance

In today's competitive business environment, companies are constantly seeking strategies to enhance employee performance. Despite various efforts, a crucial aspect often overlooked is the direct impact of employees' physical and mental health on their productivity and overall contribution to the organization. The World Health Organization emphasizes that mental and physical well-being are inseparable, and both are essential for an individual's ability to handle stress, work efficiently, and contribute positively to their workplace. When employees are healthy and mentally sound, their motivation, focus, and job satisfaction naturally increase, leading to fewer sick days and enhanced job performance. Additionally, companies that prioritize their employees' well-being often report better job satisfaction and improved overall performance. This paper delves into the research highlighting the significant effects of employee health and well-being on job performance, advocating for a long-term approach that balances work and life for sustained organizational success and employee satisfaction.

A multi-level production-inventory-distribution system under mixed make to stock, make to order, and vendor managed inventory strategies: An application in the pulp and paper industry

In today's competitive environment, most companies tend to adopt a hybrid manufacturing strategy to provide more reliable services to a wide range of customers. Based on a real-world case study, we investigate a customer-wise production-inventory-distribution system in a multi-level supply chain. Within this system, at a tactical planning level, the decision concerning the production strategies including make to stock (MTS), make to order (MTO), or vendor managed inventory (VMI) strategy, to choose for each customer is made, and then at the operational planning level, the production, inventory, and distribution activities are coordinated according to the strategy assigned to the customers. The objective is to optimize the total cost while the VMI customers are timely satisfied and the target service level for MTO customers is respected. Furthermore, the purchase acceptance rate for MTS customers can be controlled to enhance capacity utilization. We develop a rolling horizon planning approach to deal with the dynamics of customers' demands under different forecasting scenarios. We perform numerical experiments under both static and rolling horizons based on adapted data from a real-world application from a Canadian pulp and paper industry. The results reveal that customers placing smaller orders are classified within the VMI strategy to mitigate potential delays. Conversely, MTS customers are predominantly characterized by larger order quantities. A sensitivity analysis of key problem parameters demonstrates that the backorder cost for MTO customers can effectively influence the strategy allocation. Moreover, our results underscore the notable influence of sales prices on the distribution of customers among strategies.

Upholding the Strategy on Hiring Employee under Meritocracy Procedure towards a Refined Performance

In today's competitive business environment, companies are constantly searching for novel recruitment and retention strategies. Recruitment and selection of employees are essential components of this process due to their direct impact on a company's overall performance and growth. Numerous companies have instituted a meritocracy system to ensure that the hiring process is equitable, efficient, and in line with company objectives. A meritocracy is a system that emphasizes the significance of individual merit and performance in determining whether or not someone is hired or promoted. It promotes the notion that rewards should be distributed based on a person's abilities, skills, and achievements, as opposed to bias, partiality, or personal relationships. By enforcing a meritocracy method and fostering a culture of justice, openness, and equal opportunity, organizations strive to create a level playing field for all applicants. In government agencies, unfair employment practices pose a serious problem. Consequently, the researchers propose to contribute to this issue by preserving the meritocracy recruiting method, which addresses a variety of issues such as employee comprehension of meritocracy and its consequences. The significance of enhanced performance and the enormous difference it can produce if not executed properly. A meritocracy method is one in which candidates are recruited, chosen, employed, and promoted solely based on their merit. This incorporates suitability for work and merit, with the aim of eradicating unethical employment practices and fostering effective job performance that contributes to the development of one's own community. The study investigates the importance of maintaining the practice of selecting personnel on the basis of merit. It will examine the many facets of this strategy, including its benefits, drawbacks, and prospective effects on organizational performance.

Using modern theories of motivation in the practice of personnel management

In a fast-changing world and a competitive business environment, effective personnel management is becoming a critical element of any organization's success. One of the key components of modern personnel management is motivation, which determines the degree of involvement and commitment of employees to the achievement of the company's goals. The essence and role of motivation determine the success of the management strategy and affect the effectiveness of the organization. The article examines the importance of effective personnel management in today's competitive environment and highlights its key aspect – employee motivation. The authors examine modern theories of motivation, such as Maslow's need theory, McGregor's theory «X» and «Y», Vroom's expectancy theory, and equity theory. It is considered how these theories can be used in personnel management practice to create effective motivation systems. The authors note the importance of recognizing and rewarding employees to ensure their motivation and job satisfaction. Modern motivational theories face several problems. First, the individualization of the needs and values of employees makes it difficult to create universal methods of stimulation. Second, the role of intangible incentives and self-fulfillment is becoming increasingly important, but measuring and managing them is a challenge for organizations. In addition, the rapidly changing business environment requires constant updating of motivation strategies, which is also a time-consuming task. The development of current theories of motivation is the key reason for the successful development of a company and ensuring competitiveness in the market. In modern society, the development of motivational tools is determined by flexibility, individualization and emphasis on the personal and professional growth of employees. Technological innovations, a balanced approach to incentives, reflection of company values and employee participation in management create a complex motivation system. Addressing issues of health and stress resistance emphasize the importance of the psychosocial well-being of employees. These directions define a new approach to personnel management aimed at creating sustainable and effective organizations in the modern business environment.

The influence of perceived organisation support on employees engagement in Tanzania: a case of SMEs

Purpose- For the organization to strive in today's competitive environment, managers should provide a working environment that is conducive and supportive to its members/employees. Human beings like to be recognized, valued, and taken care of while they are performing their duties. The study examines the influence of perceived organisation support on employees' engagement in small and medium enterprises in Tanzania. Methodology- The study is guided by the Social Exchange Theory which explains that the amount of care and support given to the employees is the same amount of commitment they will give back to the organisation and hence engagement. The study is positivist where cross-sectional design was used to study the relationship between perceived organisation support and employees' engagement in SMEs, and it was done in three regions which are Dar es Salaam, Morogoro and Manyara. The study used stratified sampling and structural equation modelling was used to analyze data. Findings- The findings showed that organisation support has a significant influence on employees' engagement (both job and organisation engagement). Conclusion- The study recommends that SMEs should support employees by matching their interests with those of the SMEs. When these interests match, is where the employees feel valued and respected and perceive that the organisation cares about their well-being. Keywords: Perceived organisation support, employees' engagement, SME, engagement, Social Exchange Theory JEL Codes: D11, E21, M31

ABOUT THE IMPORTANCE AND BENEFITS OF EVENT MARKETING

In today's environment, where consumers have a wide range of information available to them, it is important for companies to use more effective and flexible approaches to the market. Modern information technology helps the marketer to be closer to the buyer than in the past and to understand the customer's needs and desires well. In addition, marketers need to have a good understanding of the capabilities and benefits of different marketing communication tools and media channels. In today's competitive environment, it is becoming increasingly important for companies to use incentives that are better suited to today's targeted strategies. Effective marketing communications play an important role in a company's success in the marketplace. It is important in creating an impression of the company and its brands. Events help companies to achieve this goal. The purpose of this paper is to summarise and present the main benefits that companies can achieve through the intelligent use of events. Events are used by many companies to impress other people. And companies can gain their favour by making a great impression on the public. Thus, event marketing influences consumer attitudes towards different brands, consumer behaviour and stimulates purchases. An important question is when and how special events will be implemented. Their proper planning, organisation and execution will bring the company high recognition and economic benefits. Methodology. Secondary data was used in the course of writing this article. Modern scientific works of scientists and researchers were studied, and information was searched for using Internet sources. The paper examines modern forms of event marketing, individual approaches to work in this area and aspects of its development. Research results. Based on various reliable sources of information, a clear picture of the current situation in Georgia in this area was created. It has been found that companies do not use measures with the frequency that would bring them high results. They use only certain approaches. The paper examines the conceptual aspects of event marketing, analyses the definitions and opinions of various scientists and specialists in this area. Practical implications. The article discusses the risks and problems associated with the implementation of events, and presents a number of conclusions and recommendations to improve the efficiency of the use of events.

Procurement with ERP

There are many advantages for the company when an ERP system is implemented in the procurement process. A brief summary of the main benefits and features of adopting ERP procurement is provided by procurement. In today's competitive corporate environment, efficient procurement is essential. ERP (Enterprise Resource Planning) solutions provide a way to optimize resource use, increase visibility, and streamline the procurement process. It examines the various ERP system components that have a direct impact on the procurement. These components, including Inventory Control, Financial Integration, Supplier Relationship Management, and Purchase Order Management, collaborate to automate and improve the procurement process. The important considerations for implementing ERP in procurement the crucial factors to consider while deploying ERP in procurement. It highlights the importance of selecting the best ERP vendor, designing the system in accordance with organizational goals, and effectively educating people. Data migration, change management, and continuing system maintenance are mentioned as important components of a successful ERP adoption. It cites technological developments like blockchain, machine learning, and artificial intelligence that could further change the procurement process. Describe ERP and the role it plays in the procurement process. It draws attention to typical problems faced by procurement departments, including disconnected systems and manual processes. The overview highlights the demand for an integrated ERP strategy to deal with these issues. It examines the various ERP system that have a direct impact on procurement. These modules, including Inventory, Supplier Relationship Management, and Purchase Order Management.

THE IMPORTANCE OF THE BRAND IN THE MARKETING OF FINANCIAL SERVICES

Brand is an element that distinguishes a company's products and services from its competitors. The importance of the brand in the finance sector is quite great. For the consumer, the brand causes the company's products and services to be perceived as higher quality and more reliable. In today's competitive environment, brands in the financial services sector have marketing strategies that they must implement to differentiate themselves. The aim of the article is to touch upon the important points that brands must make in order to be preferred and to survive and differentiate in an ever-changing competitive environment. The article covers topics such as increasing brand value and brand image, creating high brand credibility, engaging in CSR activities, existing in the digital world, creating brand loyalty and brand awareness.

Unlocking Managerial Performance: The Impact of Organizational Culture and Employee Personality through Knowledge Sharing

In the modern corporate landscape, the optimization of human resources stands as a pivotal concern for organizations. This study endeavors to explore the influence of organizational culture and employee personality on managerial performance, with knowledge sharing as a mediating variable. Employing rigorous empirical methods, our findings reveal that both organizational culture and employee personality exert both direct and indirect effects on managerial performance, mediated by knowledge sharing. This research underscores the significance of fostering a conducive organizational culture and understanding employee personalities to enhance overall managerial performance. These insights hold substantial implications for businesses striving to maximize their human resource potential in today's competitive environment. Highlights: Organizational Culture: Investigates the influence of organizational culture on managerial performance, emphasizing the importance of a conducive workplace environment. Employee Personality: Explores how employee personality traits impact managerial performance, shedding light on the role of individual differences. Knowledge Sharing: Highlights the mediating role of knowledge sharing in the relationship between organizational culture, employee personality, and managerial performance, emphasizing its significance for effective human resource management. Keywords: Organizational Culture, Employee Personality, Managerial Performance, Knowledge Sharing, Human Resource Optimization

Ethical Leadership in Information Technology Decision Making and its Impact on Risk Management

In the rapidly growing digital era, information technology has become an integral part of almost all aspects of our lives, including in the world of business and management. Appropriate and effective use of information technology is the key to achieving competitive advantage in today's competitive business environment. However, making decisions related to information technology is not an easy task, as information technology is often complex and high-risk. The purpose of this study is to analyse ethical leadership in information technology-related decision making and its impact on risk management. The method used is a qualitative literature review that focuses on an in-depth understanding of the topic in the time span from 2006 to 2023. The main objective of this method is to identify, analyse, and synthesise relevant scientific literature that has been published in various journals, conference papers, and other academic sources accessible through Google Scholar. The study results show that ethical leadership plays a central role in ensuring that IT-related decisions are taken with ethical principles in mind and with the aim of minimising risk. Ethical leadership contributes to the avoidance of data misuse, creating a culture of transparency and accountability, ensuring fair use of technology, and being mindful of the impact of IT decisions on society and the environment.

Impact of Personality Traits on Sustainable Entrepreneurship Development

The evolving landscape of globalization is bringing about inevitable changes in the development of sustainable entrepreneurship. Sustainable entrepreneurship combines entrepreneurial traits with a focus on both market success and social impact. However, in today's competitive environment, it is imperative for every entrepreneur to possess specific personality traits to enhance their competitiveness. The primary objective of this research was to investigate the influence of four significant personality traits: agreeableness, openness, extraversion, and neuroticism, on the sustainable development of entrepreneurship in small and medium-sized enterprises (SMEs). The study employed a positivist research philosophy, an explanatory research design, and a quantitative survey method using a convenience sampling technique. A total of 396 entrepreneurs from the registered SMEs in the Surkhet district were identified as samples. Inferential statistics, specifically structural equation modeling, were used to analyze the data. The study revealed that personality traits such as agreeableness, openness, and extraversion had a positive influence on the development of sustainable entrepreneurship. This suggests that individuals possessing interpersonal skills, innovativeness, curiosity, situational sociability, confidence, and passion played a foundational role in promoting entrepreneurial sustainability. On the other hand, the personality trait of neuroticism demonstrated an insignificant positive impact on sustainable entrepreneurial development. This implies that neurotic individuals, prone to anxiety, stress, and emotional instability, may hinder decision-making processes and disrupt the stability of sustainable entrepreneurship. Based on these findings, the study suggests that entrepreneurs should prioritize instrumental features of personality traits like agreeableness, openness, and extraversion for sustainable entrepreneurship development, while minimizing the influence of neuroticism.

Impact of Training and Development on Organizational Performance: a Mediating Role of Employee Performanceimpact of Training and Development on Organizational Performance: a Mediating Role of Employee Performance

The study aims to examine the impact of training and development on organizational performance, with a mediating role of employee performance. The importance of Human Resource Management (HRM) practices in achieving organizational success has gained recognition, as organizations realize that it is people who drive their performance. However, many companies have not fully embraced HRM practices, including training and development, due to affordability, fear, or a lack of understanding of their value and contribution. The primary objective of HRM is to ensure organizational success through a competitive, competent, and self-motivated workforce. Rigorous HRM practices, particularly training and development, play a vital role in achieving this objective. Extensive research has been conducted to establish the connection between HRM practices and organizational performance, and numerous studies have found positive relationships between them. This study will be investigating the impact of training and development on an organizational performance. Additionally, the study aims to examine the mediating role of employee performance between HRM practices and organizational perceived performance. The findings of this study will be contributing to the existing body of knowledge on HRM practices and their impact on organizational performance. It will provide insights into the significance of training and development in enhancing employee performance and subsequently driving organizational success. The study will also shed light on the mediating role of employee performance in the relationship between HRM practices and organizational perceived performance. By understanding the linkages between training and development, employee performance, and organizational performance, organizations can make informed decisions about the implementation and improvement of HRM practices. Ultimately, this study aims to highlight the importance of effective HRM practices, particularly training, and development, in achieving organizational success in today's competitive business environment.