Today's Global Business Environment Research Articles

SUSTAINABLE DEVELOPMENT AND GREENWASHING: AN ANALYSIS OF SUFFICIENT CONSUMPTION IN THE FASHION INDUSTRY

The article examines how the fashion industry has been exploiting marketing tactics that encourage overconsumption and generate a mass consciousness among consumers, where a person's social status is determined by the clothes and accessories they use. However, these tactics have contributed significantly to global environmental pollution and socio-economic issues. The fashion industry has been driven by profit-first interests that rely on cheap materials, accelerated aging of products, aggressive advertising, and an offshoring strategy that provides cheap labor and low tax rates. It is high time that companies reassess their marketing strategies and focus on sustainable development. The current climate crisis demands that companies make informed decisions and take proactive measures toward sustainability. This article revealed the impact of fast fashion marketing on consumer behavior and the environment, highlighting the need for sustainable fashion practices. The article analyzes the initiatives fashion companies take to incorporate sustainability into their core business strategies, for instance, innovative raw materials, recycling, and repair services. The article examines the practice of greenwashing, where companies make false or exaggerated claims about their environmental efforts to appear more sustainable. The article emphasizes the need for companies to encourage consumers to sufficient consumption to stay sustainable and achieve zero emissions to solve climate problems. Achieving and maintaining consumer well-being and social equity are critical goals in today's global business environment. One strategy for achieving these goals is through sufficient consumption, which involves optimizing resource use and reducing waste. Sufficient consumption can be realized by revaluing personal needs and desires, limiting excessive consumption, and minimizing waste. By adopting a mindful and responsible approach to consumption, consumers and companies can promote social equity and cultivate a sustainable business environment.

INTELLIGENCE ANALYTICAL SUBSYSTEM OF CORPORATE MANAGEMENT (ON THE EXAMPLE OF AN OIL & GAS COMPANY)

The changes that have taken place in the Ukrainian economy in recent years due to the consistent impact of global macroeconomic, epidemiological and military factors of the current deep crisis - actualized for enterprises and corporations a complex adaptive reorganization of their analytical subsystem of their management [1, 2].
 In addition, in order to be consistently effective in today's global business environment (liberalization of markets, their globalization, increased competition, decreasing consumer loyalty, constant variation in oil and gas prices, etc.), oil and gas companies must have an innovative data and knowledge environment that allows seamless and effective joint leveraging knowledge inside the corporation and across the value chain [3]. The application of knowledge-based decision support systems as an important tool of innovative management policy enables effective and sustainable management of a complex of integrated processes of an oil and gas production company (mitigating the impact of crisis factors) [4].
 The scientific and practical results presented in the article regarding the methodology and design of innovative analytical subsystem of the corporation management information systems should be taken into account when reengineering corporate information systems not only in the oil and gas industry in Ukraine [5-6]. 
 Moreover, the obtained results are relevant and applicable not only for local companies, but also for international corporations on emerging markets in the context of global and regional macroeconomic and edipemical crisis phenomena.

Does the Average Age of Executives Affect the ESG Performance of Enterprises?

In today's global business environment, the importance of ESG has been widely recognized globally. This article uses data from 4578 A-share listed companies from 2015 to 2021 to study the impact of the average age of executives on ESG performance. The results show that the average age of executives is significantly positively correlated with ESG performance. For the three specific aspects of ESG, as the average age of executives increases, the performance of environmental (E) and social (S) also shows a better trend, but the performance of corporate governance level (G) is worse. This study suggests that companies should attach importance to the diversity of their executive teams, establish continuous training mechanisms, and develop clear ESG strategies and goals. This study provides more accurate guidance for enterprise decision-making, ESG management, and executive selection, and helps companies select and cultivate executives more accurately to ensure that the executive team is aligned with the company's ESG goals.

Аnalysis and audit of the effectiveness of sustainable development of economic entities

Main problem: In today's global business environment, meat processing businesses are faced with the inevitable need to ensure sustainable development, especially in the context of exports. One of the key issues that requires attention is the effectiveness of accounting and risk management during exports, which affects the stability of business and the economy as a whole. The purpose of this article is to study the sustainability indicators of an enterprise exporting its products. The main objective of the article is to conduct a detailed analysis of the sustainability indicators of an exporting enterprise, identify factors influencing the success of their activities, and develop recommendations for ensuring sustainable development in the international environment. Methods: When writing this article, a study was conducted that included an analysis of the current situation in the field of export of goods, in particular, a study of export volumes, main trading partners and the structure of exported goods. Approaches to analyzing the structure of exports of meat products include determining the share of each type of product in total exports, as well as identifying the main trading partners based on sales volumes abroad. Results and their significance: The article identifies key factors influencing the sustainable development of enterprises in the context of export activities. The results of the analysis allow us to develop recommendations and strategies for improving accounting and risk management during exports, which can help strengthen business sustainability. The results obtained serve as the basis for creating effective strategies and recommendations to improve business sustainability in the export environment. This can be an important contribution to the development of a sustainable economy and increased competitiveness of enterprises. Risk assessment and management are important for sustainability when exporting goods. It is recommended to use financial instruments, create reserves, and organize training to improve risk management and financial stability when exporting.

The Impact of Exchange Rate Fluctuation on Toyota Financial Performance and Its Hedging Strategy

In today's globalised economy, the majority of businesses operate in many nations, utilising foreign exchange for imports and exports to expose them to foreign exchange risk. Every business is more or less affected by foreign exchange risk, which is made up of transaction risk, translation risk, and economic risk. By analyzing Toyota's financial reports and comparing financial data of multiple fiscal years (2018 is the base year), including Toyota's derivatives trading volume, foreign exchange income, exchange rate fluctuations of Japanese yen relative to other major currencies, and the average transaction price of currency trading, this study studied the role of financial derivatives in Toyota's foreign exchange risk management. The research results show that Toyota's derivatives transactions in 2018, including forward foreign exchange future contracts and foreign exchange options, strongly offset the foreign exchange risk caused by the appreciation of the yen against the US dollar and the euro. In addition to the derivatives transactions, Toyota also used other risk management policies to reduce its foreign exchange risk. Although the use of financial derivatives can hedge risks, but it will also bring losses to the enterprise. In today's volatile global business environment, each enterprise must choose the appropriate risk management tools for it.

International Marketing and Its Role in Employee Satisfaction: An Empirical Study

International marketing is a critical component for any business that seeks to expand and compete on a global scale. It involves the creation and implementation of marketing strategies that are tailored to different cultural, economic, and political environments. As companies expand globally, they also face the challenge of managing their employees across different countries and cultures. Employee satisfaction is a key determinant of organizational success, and international marketing can play a significant role in ensuring that employees are satisfied. This paper explores the role of international marketing in employee satisfaction. It begins by defining international marketing and employee satisfaction and highlighting their importance in today's global business environment. It then examines how international marketing strategies can impact employee satisfaction through various channels, such as cross-cultural training, effective communication, and support for diversity and inclusion. The paper also discusses the challenges and potential risks associated with international marketing that could adversely affect employee satisfaction.

MANAGING RISK WITH THE USE OF COMPUTER SIMULATION

Internal and external risk management has become an important issue in today's global business environment, which is fraught with health, natural, political, economic and technical threats. This article deals with the design of a methodology for problem-solving and risk management in connection with computer simulation. The risk management methodology proposed by us consists of individual steps, which are summarized into three stages - risk assessment, risk analysis and risk management. The proposed computer simulation methodology consists of several steps, for example creating a parametric simulation model, designing experiments, analysis of the simulation model results or the evaluation of the simulation results. These steps are described in the article. After completing the previous steps, we describe the points of an action plan and what it must contain to avoid consequences and the impact of risks at the lowest possible level. An example of the use of computer simulation is the risk situation associated with the fluctuation of employees. In the end, the proposed methodology is supported by the results of our research and its further direction.

Short-term foreign trips correlates of the four factors model of cultural intelligence

PurposeIn today's global business environment, international assignments have become integral part of employee's job profile. Adaptation to a different cultural environment plays a role in affecting employee's performance. In such a situation, cultural intelligence plays an important role. In order to sustain in a diverse work setting, a global organization entails managers who are sensitive to different cultural requirements. Factors affecting cultural intelligence have been a major area of study. However, studies relating short-term foreign trips and their role on four aspect of cultural intelligence are lacking. Therefore, present study was undertaken to know role of foreign visits in affecting cultural intelligence among professionals of diverse background.Design/methodology/approachThe present study is a primary study conducted for a sample of 120 respondents divided into two groups. One group comprised professionals having experience of foreign visits while other group comprised professionals who had not visited a foreign country. We use Levene’s Test for equality of variances was applied to assess the difference of variation of cultural intelligence between two different groups of respondents.FindingsThe results revealed that short-term trips play a significant role in affecting metacognitive, cognitive and motivational components of cultural intelligence. However, behavior cultural intelligence is not affected by short-term trips significantly.Research limitations/implicationsOutcome of present research forms basis for future studies that can be conducted linking long-term trips and culture intelligence. This study is practically useful for improving cultural intelligence of professionals to enhance their success and effectiveness in international assignments.Originality/valueThe study adds novelty to the field of cultural intelligence as prior studies were lacking in relating role of short-term trips on four different components of cultural intelligence.

SÜRDÜRÜLEBİLİR TEDARİK ZİNCİRİ YÖNETİMİ: KURAMSAL BİR DEĞERLENDİRME

Management of supply chains is critical in today's global business environment. Sustainability is among the most important factors in business activities and supply chain management. The integration of supply chain management with the three dimensions of sustainability (economic, environmental and social) has led to the emergence of sustainable supply chain management. Sustainable supply chain management is the management of supply chain operations, resources, information and funds to maximize social welfare and supply chain profitability while minimizing environmental impacts. Today, businesses are increasingly held responsible for the environmental, social and economic consequences resulting from their internal operations and the operations of their suppliers. Sustainable supply chain management is not just for businesses to survive; it also answers questions about what needs to be done to develop and succeed in the long term. This study focuses on establishing a broad theoretical framework on sustainable supply chain management. In addition, the study aims to help top management decisions in businesses by mentioning the sustainability strategies and practices of supply chain management, the advantages and challenges of sustainable supply chain management.

The Establishment of GRC Integrated Approach in Iranian bank’s for Smoothing the Interaction with the International Banking System

In today's complex global business environment, having a clear vision of information and corporate governance approach, management and ensure the performance of compliance, risk and accepting it, are essential for the success of any organization. Organizations that choose corporate governance, risk management and compliance (GRC), at their forefront of their actions, have a competitive advantage. They well-informed their abilities in strategic decision-making, and able to respond with agility and speed to the threats and opportunities that arise. Therefore, the concept of GRC, in recent years, has attracted the serious attention of banks and financial institutions at the international level. Banks, as financial intermediaries, play an important role in creating economic stability. Hence, the development of processes and structures in order to manage the activities of the organization, in line with the needs of beneficiaries, internal and international business regulations and requirements and business risks as well as ensuring the safety and health performance of these financial institutions are necessary and inevitable. In particular, in the current situation that the premises and the space necessary to interact with foreign banks have been developed, attention to the frameworks and international standards in the interaction between banks, including the implementation of corporate governance, risk management and compliance have the utmost importance. Hence, the concept of GRC at international level has attracted the serious attention that covers all the organization's activities in the three areas of governance, risk management and compliance. Implementation of GRC integrated approach ensures that an organization reaches its desired goals and vision if acts rationally. However, some challenges and structural constraints in the banking system of the country and the lack of comprehensive instructions, which is derived from the requirements and internal conditions of the country and is developed based on international standards, cause the importance of this issue will be trimmed in the banks and financial institutions.Hence, in this study, first, the concept of GRC and the importance of its implementation in the banking system are explained and then, Different approaches to deployment GRC are included in the organization in and the following, we pointed to the relationship between GRC components, including corporate governance, risk management and compliance and examined the principles governing the establishment of each international authorities’ perspective and challenges in the banking system in this context, presented suggestions in order to overcome obstacles and constraints in implementation of GRC, effectively.

Global Strategy: At the Interface

The global business environment today represents a growing interface between the “old economy&x201D; and a “new economy.&x201D; The latter comprises the digital economy as well as the age of smart machines. This diverse global business environment, along with today's grand challenges (e.g., urbanization, aging population, climate change, and terrorism), demands multi-perspective strategies. Given a new, evolving competitive arena, traditional ways of thinking about strategy, based on economic phenomena such as scarce resources and decreasing returns to scale, may no longer work. For old economy firms, Michael Porter's generic strategy framework should work well. Shapiro and Varian's information rules rule competition in the digital world. The rules of the game in the age of the smart machines are still evolving and would likely include technology leadership, increasing returns to scale, first mover advantages, and winner-takes-all strategies. The proposed symposium will explore newer ways of thinking about strategy at the interface between the old and new economies; developed and developing worlds; and between physical goods, digital goods, and smart machines. The symposium is intended to engage a group of panelists in a discussion of the various interfaces that MNEs encounter in today's diverse global business environment and how they leverage the opportunities arising from such interfaces. The panelists come from many theoretical traditions, though all coalescing into an exploration of global strategy from multiple perspectives. They not only bring perspectives from their own scholarly traditions, but also from multiple geographies, including the U.S., the U.K., Germany, India, China, and Russia, among others.

THE ENCOUNTERS OF DEVELOPMENT AND ROLE OF HUMAN RESOURCES

The current financial crisis, which has engulfed East Asia since July 1997 and has subsequently spread to Russia and Brazil, is one of the most pressing challenges facing countries and businesses in today's global business environment. Development represents the structural making of the world characterized by the free flow of technology and human resources across national boundaries as well as the spread of Information Technology (IT) and mass media presenting an ever-changing and competitive business environment. Two major limitations are observed in the treatment of the twin issues of the responses to the East Asian economic crisis and the coverage of the literature on Development. While the response to the crisis has focused on macroeconomic aspects, the issue of Development has been addressed predominantly in and with respect to the developed economies of Western Europe, North America and Japan. This paper is an attempt to address these two limitations. Since the human factor is the key in the new era of Development, the primary objective of this paper is to present a conceptual framework for effective management of human resources as a response to the growing interaction of Development and business performance. Three central arguments are made in this paper. (1) That a growing body of evidence converge to suggest that changes taking place in the global business environment often are not accompanied by complementary changes in human resource management practices leading to a situation whereby the failure of some firms is due to the mismanagement of people rather than to problems with technical systems per se. (2) That this is because organizations have achieved relatively low levels effectiveness in implementing Strategic Human Resource Management (SHRM) practices especially in emerging economies of South East Asia and other developing countries like Nigeria that are exposed to the challenges and opportunities of Development. (3) That in order to manage employees for competitive edge in a period of Development, human resource personnel must possess competencies relevant for implementing such strategic HRM policies and practices. Guided by theoretical perspectives such as the firm’s resource-based theory of competitive advantage and empirical evidence, this paper develop propositions draws implications for the strategic management of human resources to prepare organizations for the challenges of Development. Article visualizations:

Global Awareness Interest of College Students

Professional skills are expected from college students; however, assessing students' professional skill development is challenging. In order to better prepare students for a career in today's global business environment, it is essential students develop interest and knowledge toward global awareness. This research is primarily concerned with the understanding of college students' interest toward global awareness. In order to unveil what factors affect students' interest toward global awareness, a survey was developed and data collected. Analyses of survey results suggested that gender, ethnicity and high involvement activities might positively affect interest toward global awareness.

The Mobile Agility Framework: An Exploratory Study of Mobile Technology Enhancing Organizational Agility

Organizational agility is a key factor for survival and success in today's global, interconnected and turbulent business environment. Mobile technology, due to its anywhere, anytime characteristics, can be a promising tool for enhancing organizational agility. Yet there are no studies that guide organizations in leveraging mobile technology for improving speed and responsiveness to market needs. This paper attempts to fill this gap by exploring the question of how mobile technology can be used to enhance organizational agility. We use an exploratory research approach that analyzes archival data of 89 case studies describing contemporary applications of mobile technology within organizations. After developing a mobile agility framework and using it as our analytical lens, we examine each case to identify specific ways in which mobile technology is used to improve operational, customer, and partnering agility. The main contribution of this study is identification of emergent clusters of agility-enhancing mechanisms based on the benefits of mobile technology. The discovered benefits and mechanisms can guide organizations on improving their agility with the help of mobile technology. We also formulate research questions that should be addressed by future studies in order to produce a more comprehensive theoretical understanding of how mobile technology improves organizational agility.

Applying Social Network Analysis on Rural Manufacturing of the Savannah of Bogota

Abstract In today's global volatile business environment, manufacturing organizations strive to streamline their flexibility towards delivering on time high quality products at lower costs and prices. Along this line, rural manufacturing networks constitute loosely coupled cooperation schemes among diverse partners, whose operation and interaction may be configured and synchronized in a rapid way. In order to the often unpredictable market needs to be addressed, the advantages network come from the greater scope for expanding the inter-relationships in ways that increase the scope for generating innovation. The SNA can contribute to the improvement process by focusing on the roles and the importance of key persons within process. The reason is that an improvement should focus on both, procedures and people. Therefore, the SNA, given its flexible applications, can emerge as an important management tool in the process of collection, transportation, and processing of milk in the savannah of Bogota. The findings help to visualize the current practices at all levels when dealing with a rural manufacturing system and identify the areas in which more attentions have to be made for a more effective process.

Ensuring cost effectiveness in support of training

This paper supports a theory that to maintain a competitive advantage in today's global business environment organisations must be able to effectively increase the speed of their employees' learning. I have attempted to address the issue that to be successful in the next century, businesses will have to alter the method of evaluating employees' knowledge, skill level and technological capability. In today's business environment organisations must adapt quickly to changing opportunities that are only possible if their organisation's competencies, skills, knowledge, and technological capability are effective. To do so, it is believed that management must first inventory and define the current asset value of their employees' 'knowledge and skill level'. Then they will have to implement an assessment method to determine the return on investment (ROI) from further employee training. This process requires management to have new tools to assist them in identifying and managing the organization's investment in its knowledge base.

Enhancing Understanding of Cross-Cultural ERP Implementation Impact with a FVM Perspective Enriched by ANT

Enterprise Resource Planning (ERP) Systems, and more especially their successful adoption and implementation, have been the subject of extensive research as can be evidenced by the large body of literature on this and related topics in the extant literature to date. However, the effect of cross-cultural issues has been less widely studied, perhaps because of the difficulty and complexity of such cross-cultural studies. In today's global business environment this remains a key issue and critical success factor. Hence, this paper explains how challenging the cross-cultural ERP implementation implementation success is for organizations and how important it is to assess a fit and viability of cross-cultural ERP implementations in diverse cultures (which is especially important in economies heavily reliant on off-shoring services). By drawing upon multiple streams of theory building, a framework, from the Fit-Viability Model (FVM) perspective, is developed. The framework provides important and valuable guiding principles for organizations for their decisions on adoption and deployment of Enterprise Systems (ES). Further, the paper proffers the use of ANT (Actor-Network Theory) to enrich the analysis and provides a systematic approach for moving forward with a multi-case study to test the proposed framework.

Cross‐Cultural Creativity: Conceptualization and Propositions for Global New Product Development

In today's global business environment, where multinational companies are pressed to increase revenues in order to survive, creativity may hold the key to ensuring their new product development (NPD) efforts lead to innovations with worldwide appeal, such as Apple's iPad and Gillette's Fusion Razor. To leverage creativity for effective global NPD, businesses want to know how cultures differ in their concepts of creativity and the impact of those differences on approaches to developing new products. Because global new products are increasingly developed in, by, and for multiple cultures, a particular need is for a culturally reflective understanding, or conceptualization, of creativity. While creativity is believed to be culturally tied, the dominant framework of creativity used in business and management assumes that creativity is culturally indifferent or insensitive. This knowledge gap is addressed by studying the role of creativity in NPD practices in a cross‐cultural or global context.The study begins by first developing a culturally anchored conceptualization of creativity. Called cross‐cultural creativity, the concept draws on creativity insights from the field of art and aesthetics. The concept specifies two modes of creativity, neither of which is superior to the other, called the spontaneous or S route and the divergent or D route. The S route emphasizes adaptiveness, processes, intuitiveness, and metamorphism, while the D route focuses on disruptiveness, results, rationality, and literalism. Next, this new concept is applied to NPD by positing how creativity in distinct cultures may shape NPD practices, as illustrated by Japanese and U.S. firms. Research propositions are formulated to capture these patterns, and thereafter, theoretical and practical implications of the framework and propositions are discussed. The implications center on global NPD, which is a complex enterprise involving typically more than one culture to design and develop new products for several geographic markets. The study is of interest to researchers needing a globally situated, culturally attached framework of creativity for international NPD studies, and managers seeking to exploit creativity in multinational and multicultural innovation projects.

Outsourcing Strategies: The Rules for an Effective Decision Making Process

Outsourcing strategies have undergone a deep evolution, from simple production contracts with third parties, to agreements that involve functions once considered part of the core business. Outsourcing has transformed many organizations' global supply chains. Global sourcing, offshoring, and outsourcing are a critical output of strategic decision making aimed at allowing organizations to develop and leverage the capabilities required to compete in today's global business environment. By analyzing established academic literature, this article improves existing knowledge on outsourcing and provides some basic rules for the outsourcing decision making process. Finally, it develops considerations about contract negotiation with the supplier and determines the types of relationships to have.

The importance of innovations for the development of franchising systems

In today's global competitive business environment, innovations are crucial for the success of the company. It is necessary to emphasize the importance of understanding wishes and needs of consumers and an innovative manner in which their needs can be met more efficiently in comparison to competition. Franchising is, certainly, one of the business concepts that is difficult to associate with innovation, as it presents the use of a proven business model. At the global level, there is a constant tendency in the development of existing and new franchise systems. In this regard, the paper points out the importance of innovation for the development and improvement of the franchise systems. The phenomenon of open innovation is increasingly important in recent years. The paper highlights the importance of open innovation as the best way to innovate the franchising company's business through the adoption of ideas from the external environment and the exchange of internally created ideas. The model of open innovation involves the integration of customers, suppliers and franchisees in the new product development process. The open strategy of new product development is very important for franchising companies that want to be leaders. The paper reviews the development perspectives of open innovation in franchising systems in the future.