Business Tool Research Articles

Gray correlation analysis of strategic human resource management and corporate performance

Abstract In today’s competitive business landscape, effective human resource management (HRM) is pivotal for the growth and performance of enterprises. This study uses gray correlation and multiple regression analyses to investigate the connection between HRM practices and corporate performance. We developed an evaluative framework to assess the impact of strategic talent management on company outcomes. Survey data were analyzed to unveil the dynamics between HRM variables and corporate performance. Our findings highlight a significant relationship between employee recruitment, incentive programs, promotion pathways, and an innovative culture with corporate success, with p-values less than 0.01. Notably, stock options (0.354), bonus schemes (0.325), and promotion opportunities (0.331) show the strongest correlations. The gray correlation analysis further indicates that the HRM-performance linkage in three surveyed companies exceeds 0.7%, underscoring HRM’s vital role in enhancing enterprise performance. This research presents gray correlation analysis as an effective tool for businesses to evaluate the impact of their HRM strategies on performance.

Comparative Analysis of Facebook Page Marketing: Case Study of Chinese and Norwegian Agricultural Companies in Myanmar

Facebook is powerful business tool that businesses to establish their online presence on one of the world’s largest social media platforms exploring foreign markets, accelerating internationalization, and improving performance in foreign markets. Facebook not only offers a range of advertising programs, but it also lets business customize their own profile and public relevant content to build their own community around their brand. The purpose of this study is to explore an effective Facebook marketing strategy applied by Chinese and Norwegian companies, identifying differences and similarities in their approaches. The study conduct data mining to track and summarize engagement activities on the official Facebook pages for a period of one-year (starting from January 1 to December 31, 2023) and analyzed total 191 posts of two foreign-based companies in Myanmar, 177 posts of a Norwegian company and 14 posts of a Chinese company. This total 191 posts, the authors manually entered into Microsoft excel sheet and then converted into a format for analysis. The analysis is conducted using Microsoft Excel to compare Facebook engagement and to apply Arman’s engagement rate formula for evaluating the quality of Facebook engagement. The results show that Chinese and Norwegian companies effectively used the product information text with images on Facebook is popular with customers, generating increasing likes, shares and comments and improving page engagement, which boosts customer purchases. Engagement Rate is vital for Facebook optimization, indicating a page’s influence on its followers, with the study revealing that Chinese Facebook page have higher engagement rate than Norwegian Facebook page. Additionally, Norwegian company effectively maintain customer relationships through live chat automated responses, providing timely information, reduction uncertainty, and increasing sales by understanding customer needs and potential purchasing behaviors.

Pemanfaatan Aplikasi Canva Dalam Promosi Usaha Online Di Kota Bengkulu


 
 
 
 Canva is an online application that can be used to create graphic designs for various needs such as logos, social media content, banners, posters and flyers. This study aims to describe the utilization of the canva application in online business promotion to increase sales. This research is qualitative research. based on TerenceShimp's Marketing Communication Dimensions Theory (2003). The results of this study indicate that the utilization of the canva application has been effective and has contributed to increasing sales and strengthening marketing strategies for online business owners in the city of bengkulu, especially for MSMEs. The results of individual sales of the canva application are an effective tool for creating attractive and professional promotional materials. Its use includes selecting backgrounds, editing designs with text, images, and other design elements, changing colors, fonts, and layouts as needed. Advertising that Canva has an advantage in creating advertising designs compared to other applications. Sales promotion where Canva helps them create professional designs, increase buyer confidence, build a strong visual identity, and visually communicate product benefits to buyers. Sponsorship marketing where wise use of Canva in a larger marketing strategy can contribute significantly to sales growth and brand awareness, Publicity, Canva provides a useful tool for creating attractive promotional designs. Thus, this strategy can be an effective step in growing the business of the business owner. and communication at the point of purchase Canva application is an invaluable tool for MSMEs and small businesses to improve quality and efficiency in the field of design and promotion.
 
 
 

An Evaluation of Turkish Hotel Websites: A New Perspective for eMICA

Today, websites have become an important marketing tool for hotel businesses. Therefore, the quality of hotel websites and the content they deliver are important factors that influence the purchasing decisions of potential customers. Investigating these factors involve demonstrating the level of development of hotel websites. Therefore, this study evaluated hotel websites in Türkiye using the Extended Model of Internet Commerce Adoption (eMICA) method. In the study, dissimilar to other studies in the literature, the data was obtained automatically via data scraping using Python programming language and analysed with descriptive analysis techniques. The study results showed that Turkish hotel websites did not have a sufficient degree of maturity. Hotel businesses generally used their websites for promotional purposes rather than as a comprehensive marketing tool. The study also aimed to contribute to the improvement of the eMICA method by adding new criteria.

What do we know about Cooperative Compliance? Insights from Literature Review in Transfer Pricing Supervision

Cooperative compliance is often defined as a framework for trust-based relationships in which tax authorities and taxpayers work together to establish and uphold mutual understanding. The main reported areas of tax compliance risks and disputes in Indonesia include profit shifting and transfer pricing. Through a literature review, we attempt a stocktake of the cooperative compliance literature in this review about transfer pricing supervision. A comprehensive literature search identified 17 studies published between 2014 and 2023. Two key types of interventions were identified: cooperative compliance and transfer pricing supervision. According to the review's findings, cooperative compliance research should focus more on using cooperative compliance as a strategic tool in business than just on tax compliance. This evaluation concludes with recommendations for future cooperative compliance research.

DEVELOPMENT OF SMM DURING THE WAR IN UKRAINE

The study evaluates social media marketing (SMM) as a new field of marketing that emerged with the advent of social networks, particularly Facebook and Twitter. It describes the importance of social media in maintaining communication between brands and their audience, ad­vertising goods and services, analyzing competitors, and gathering audience data. The article em­phasizes that SMM is an essential tool for modern businesses because social networks allow them to find their target audience and maintain communication with it, promote their products and ser­vices, attract new customers, increase loyalty, and enhance their brand. The article examines the development of social media marketing (SMM) in Ukraine before the start of the full-scale war that began on February 24, 2022. The author claims that before the war, SMM was quite active, and companies used social networks to promote their brands and products. The article includes a dia­gram that shows the ranking of the most popular social networks in Ukraine before and after the war. The author also notes that the popularity of the Telegram messenger greatly increased after the start of the war. Additionally, the article discusses the example of the company LLC «Nova Poshta» as one of the largest logistics companies in Ukraine that actively uses social networks to interact with its customers and support its brand, development, and market leadership in logistics. The article examines in detail how the company uses its social networks to publish information about its services, promotions, news, useful tips for customers, answers to customer questions, and support for its corporate values and social responsibility. Furthermore, the article discusses the peculiarities of SMM development during the war in Ukraine and the opportunities it may create for companies to express their support and increase their awareness.

DIGITALIZATION OF THE HOSPITALITY SPHERE AS THE BASIS FOR CREATING A COMPETITIVE BUSINESS

The competitiveness of modern business is determined by the level of consumer accessibility to the final product. The sphere of hospitality is specific, since accessibility to a service or services determines the level of interest of guests in receiving them. Innovation has become the basis of the work of modern enterprises and a tool for their adaptation to functioning in crisis situations. The intensity of saturation of enterprises of hotel and restaurant business with digital innovations determines the convenience of the guest in obtaining services and in cooperation. The variety of software products available on the market of digital tools challenges the enterprise to choose the most convenient and appropriate software. It is important to investigate the level of need for digital tools for hospitality businesses and explore the available and most accessible of the entire range. To this end, the article assesses the dynamics of temporary accommodation services and catering provided by hospitality enterprises in Ukraine. In the process of studying the dynamics of the structure of services for temporary accommodation and catering provided by hospitality enterprises in Ukraine, positive changes were noted. In the process of studying software products on the market, it is noted that it is worth paying attention to Servio software products, which serve as the main tool for managing the hotel and restaurant business, and have a number of specialized modules. It is proposed to integrate the SERVIO POS software product into the business processes of the hotel and restaurant business, when using which the enterprise will receive an important tool for organizing a restaurant, cafe or bar management system. The article explores the functionality, possibilities and advantages of integrating the SERVIO POS software product into the activities of hospitality enterprises.
 In the course of the study, it was found that the use of mobile applications of the Poket-line from SERVIO will provide an opportunity to improve the business activities of hospitality enterprises. The algorithm of using the SERVIO POS Pocket mobile application in the work of hospitality institutions is presented.
 An important innovative tool for hotel management has been proposed for the operation of hotels - the multifunctional software product HMS. Main modules and functionality of HMS software are presented.
 One of the types of digital settings for hospitality enterprises is the online module SERVIO HMS RESERVATION, which can be installed free of charge on the website of a hotel or other hospitality institution.
 The article offers an algorithm for the use and functionality of the SERVIO HMS RESERVATION online module in the service system of hotel business enterprises.
 It has been studied that the availability of online service forms an additional segment of the market and provides for additional economic benefits for hospitality enterprises.

UNMASKING FRAUDSTERS: Ensemble Features Selection to Enhance Random Forest Fraud Detection

Fraud detection is used in various industries, including banking institutes, finance, insurance, government agencies, etc. Recent increases in the number of fraud attempts make fraud detection crucial for safeguarding financial information that is confidential or personal. Many types of fraud problems exist, including card-not-present fraud, fake Marchant, counterfeit checks, stolen credit cards, and others. An ensemble feature selection technique based on Recursive feature elimination (RFE), Information gain (IG), and Chi-Squared (X2) in concurrence with the Random Forest algorithm, was proposed to give research findings and results on fraud detection and prevention. The objective was to choose the essential features for training the model. The Receiver Operating Characteristic (ROC) Score, Accuracy, F1 Score, and Precision are used to evaluate the model's performance. The findings show that the model can differentiate between fraudulent transactions and those that are not, with an ROC Score of 95.83% and an Accuracy of 99.6%. The F1 Score of 99.6%% and precision of 100% further sustain the model's ability to detect fraudulent transactions with the least false positives correctly. The ensemble feature selection technique reduced training time and did not compromise the model's performance, making it a valuable tool for businesses in preventing fraudulent transactions.

Does the presence of “Mom” in conversations and bios in TikTok affect firm value?

ABSTRACT TikTok has become a useful tool for businesses eager to capitalize on the platform’s expanding user base. Mothers have been using TikTok to share their experiences raising children, trying new meals, shopping, etc. Mothers are, therefore, increasingly seen as a firm’s business and marketing ideal. This study empirically evaluates whether investors value the frequent occurrence of the word ‘Mom’ in postings or online bios on TikTok. Based on a sample of Fortune 500 companies, our results firstly imply that ‘Mom’ on TikTok is linked to a greater firm value. We next look into whether investors value the intersection of ‘Mom’ on TikTok and particular themes indicators taken directly from TikTok. The study finds that, ‘Mom’ only has a positive effect on firm value in companies where the themes of promotion, location, quality, and convenience are present in significant quantities. However, the positive relationship between ‘Mom’ and firm value is consistently significant for one theme—service—both in the high and low subsamples. Hence, companies can align with core values related to mothers’ concerns and interests and explore strategic opportunities for engaging with mothers, fostering positive perceptions and support among investors and encouraging further research in this field.

Empowering MSME Through Socialization and Training in Producing Simple Financial Reports in Tourism Villages

Aim - The aim of exists article This are (1) Increase MSME skills and understanding of making report finance simple For help they manage business they with more efficient (2) Encouraging MSMEs to operate practice more business _ transparent with provide report more finances _ accurate (3) Helping MSMEs in Tourism Villages Attack to own more access _ Good to source Power finance , like loans and support from the bank or institution finance other , with own report more finances _ good .Method - This article use method qualitative with approach studies case , so the result nature analytical and descriptive . Population from study This is a tourist village throughout Indonesia and is becoming sample study This is a Tourist Village Attack in the District Blitar , East Java.Findings - Moderate obstacles faced by MSME actors in Tourism Villages attack that is majority MSME actors not yet do recording on transaction required income and expenses _ in the production process so that understanding about importance making report finance still very lacking .Implications Practical - This article help MSME actors in understand importance make report finance simple as tool For monitor performance business from time to time as well as increase quality of MSMEs in Tourism Villages Attack , as form contribution to growth economy local which can also be done practiced by all perpetrator business in Indonesia.Originality - This article explained problems faced by MSMEs especially _ _ about literacy finance so that Can give example Not yet optimally understanding importance make report finance simple can reduce supposed profits _ Can maximized .

The Role of Digitalization in the Development of Marketing and its Impact on the Organizational Structure of Enterprises

Rapid technological change, constant development of digital tools and the proliferation of internet technologies have transformed marketing strategies and the way we interact with customers. In this context, understanding and exploiting the opportunities offered by digitalisation is becoming a critical element of success for businesses in any industry. Therefore, the study of the impact of digital technologies on marketing strategies and internal organisational structure is becoming an important issue in the context of modern business. Purpose: This study is aimed to analyze the role of digitalisation in the development of marketing and its impact on the organisational structure of enterprises. Design / Methodology / Approach: The research methods used are system analysis, synthesis, comparative analysis, grouping, abstraction and generalisation. Findings: The article deals with the impact of digitalisation on the development of the enterprise’s marketing strategy. The essence of the concepts of “digitalisation”, “Internet marketing”, “digital marketing” has been clarified. The most popular and effective marketing tools that can be used by industrial enterprises in the formation of their marketing strategy, taking into account the processes of digitalisation, are offered. Data on the significant impact of digitalisation on business operations in the context of forming a properly selected marketing policy of enterprise in order to promote the company’s competitiveness and increase its income are provided. It is found that digitalisation changes the internal and external environment of enterprises, affects the organisational structure of enterprises. Originality / Value: It is proved that digitalisation has a significant impact on the functioning of an enterprise and influences various changes in the internal structure depending on the level of its implementation. Practical Meaning: Research in the field of marketing on the use of various digital tools in business is an object of interest to scientists who analyse the positive or negative impact of digitalisation on marketing and the activities of enterprises in various fields. Further Research: The role of SMART technology in setting fundraising goals.

Systematic Literature Review: On Green Innovation

Green innovations (GI) help reduce the negative impact on the environment. Because of their dynamic activities and resulting in more economic performance, customers are willing to pay the premium price for environmental health products. Hence, GI is an important tool for businesses to increase their market share and sustainability. The objective of this article is to identify research gaps in green Innovation and to discuss future implications. This study used the systematic literature review (SLR) methodology and the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. Following the predetermined inclusion criteria, 60 articles from the Google Scholar and lens.org databases, were included for review as the findings research gaps were identified namely theoretical gaps, thematic area gaps (empirical gaps) contextual gaps, and methodological gaps. Further, it provides some theoretical and future research implications. This study contributes to the body of knowledge on green innovation by addressing significant knowledge gaps. This knowledge contributes to future researchers designing and carrying out a study to fill these identified research gaps and practitioners who need to benefit from an understanding of the different aspects of GI.

The Impact of Digital Marketing on the Performance of Small and Medium–Sized Enterprises in North Macedonia

This research paper investigates the impact of digital marketing on the performance of Small and Medium-sized Enterprises (SMEs) in North Macedonia. Digital marketing has emerged as a powerful tool for businesses to reach their target audience, enhance brand awareness, and increase sales revenue. However, the extent to which SMEs in North Macedonia have embraced digital marketing and the specific impact it has on their performance remains underexplored. Through a comprehensive literature review and empirical analysis, this study aims to shed light on the relationship between digital marketing strategies and SME performance indicators. The research methodology involves collecting data from a diverse sample of SMEs, analyzing the influence of digital marketing on outcomes such as sales revenue, customer acquisition, brand awareness, and so on. The findings of this study reveal that SMEs in North Macedonia are increasingly utilizing digital marketing strategies, with social media marketing and email marketing being the most used channels. Moreover, digital marketing is found to have a significant positive impact on SME performance, particularly in terms of increasing sales revenue and enhancing customer engagement. Overall, this research paper underscores the importance of digital marketing as a strategic tool for SMEs and provides valuable insights into the relationship between digital marketing initiatives and SME performance. It offers a foundation for future research in this area and emphasizes the need for continuous adaptation and innovation in the ever-evolving digital landscape.

Generative Artificial Intelligence (AI) Educational Pedagogy Development: Conversational AI with User-Centric ChatGPT4

In terms of language models, generative artificial intelligence (GenAI), and more specifically ChatGPT, offer a significant technological achievement as a revolutionary tool for natural language processing (NLP) and a transformative educational business tool. ChatGPT users' suggestions have the ability to optimize teaching and learning, thereby having a substantial impact on the educational environment of the twenty-first century. Educational robots are getting easier to access for a number of reasons. The human-robot cooperation that has advanced scientifically in industry 5.0 extreme digital automation, will also probably become a regular aspect of life in the days to come. This study examines the prospective uses of GenAI for NLP synthesis as well as its potential role as a conversational agent in the classroom business. GenAI's capacity to understand and produce language that is human-like by employing NLP to generate semantics was essential to its ability to replicate the most advanced human technology through comprehensive assumptions of patterns and structures it learns from its training data. With the rise of artificial intelligence (AI) driven conversational agents, prompt engineering has become an important aspect of digital learning. It is essential to get ready for an AI-dominated future when general and educational technologies combine. The study demonstrated how society may impact and contribute to the development of AI pedagogic learning using an instructional robotics application driven by AI, emphasizing the responsibility of humans as producers to reduce any potential misfortunes. The study highlights that since generative AI technologies have the potential to drastically change teaching and learning approaches and necessitate new ways of thinking, more research on organizational robotics, with a focus on human collaboration and education, will emerge from the technological concerns raised in this study.

Market-making strategies in Tanzimat era Istanbul: The quest for an elusive cosmopolitanism

Focusing on a pivotal period of the Ottoman Empire, we illustrate how advertising tactics act as market-making tools for local and non-local businesses during the Tanzimat (1839–1876) (Re-organization) era through a study of advertisements in the popular Armeno-Turkish daily newspaper Manzume-i Efkâr. We show that using standardised marketing communications in both form and content to invoke Westernness, forging dealership networks to induce demand, and legitimising the products and brands acted as market-making mechanisms and helped to introduce new products into the local market. Our findings further illuminate that although the market making efforts of the era might suggest the existence of a multilingual, ethnically, and culturally diverse consumer group, the adverts only speak to a limited and inorganically bound set of consumers.

Artificial Intelligence as a catalyst for the Sustainability of Small and Medium Scale Businesses (SMEs) in Nigeria

Purpose: This study examines the role of AI in small business operations. Specifically, we identified areas where AI could be deployed, barriers to deployment of AI, identified AI tools in business, and ascertained the number of SMEs that consciously use any form of AI in their business operations. Research Methodology: This study adopted a descriptive design. The population of the study was 27546 small businesses that were registered under the Cooperate Affairs Commission (CAC), and a sample size of 379 was arrived at by adopting Krejcie and Morgan's 1970 sample size determination formula. The source of data was solely primary through interviews, which later formed a stepping stone for the structured questionnaire used for the study. The instrument was validated and tested for reliability. Data analysis was performed using descriptive statistics consisting of frequencies and percentages. Results: Most SMEs in Nigeria are still operating manually; hence, they do not enjoy the massive potential of AI deployment and remain perpetually small in size. Limitations: Descriptive statistics for the analysis were used to reduce the inferrability of the findings. Contribution: Given the increasing dependence on technology and AI, this study highlights the importance of AI not only for big and multinational corporations, but also for SMEs in Nigeria. Novelty: A study of this nature has not been undertaken in Nigeria, specifically focusing on southeast Nigeria, which has a large number of small businesses in the region.

TOURISTS’ ENGAGEMENT BEHAVIORS ON SOCIAL MEDIA, DESTINATION ADVOCACY AND REVISIT INTENTION

Social media has become an effective engagement tool for businesses and organizations in the tourism sector. This study examines the influence of social media engagement behaviors at various levels (consumption, contribution, creation) on destination advocacy and revisiting intention. Survey results from 273 tourists reveal that consuming behaviors influence destination advocacy and revisiting intention; creating behaviors only influence destination advocacy, and contributing behaviors do not significantly impact destination support and the intention to revisit. The study facilitates a deeper understanding of consumer behavior on social media and aids businesses and effective marketing organizations on social media platforms.

The Impact of Modern Marketing Communication Tools to Increase Market Performance: The case of Commercial Bank of Ethiopia Addis Ababa

Purpose: The purpose of this research was to investigate the impact of modern marketing communication tools on market performance within the context of the Commercial Bank of Addis Ababa, Ethiopia. The study aimed to explore the relationships between these tools and various business outcomes such as increased sales volume, customer awareness, and market share expansion.
 
 Theoretical framework: The study developed a conceptual framework based on an extensive review of existing literature. The theoretical framework provided the foundation for understanding the relationships between modern marketing communication tools, customer satisfaction, and market performance. It incorporated relevant theories and models from the field of marketing and communication.
 
 Design/Methodology/Approach: The research adopted a mixed research design, combining both descriptive and explanatory methods. A quantitative research approach was employed to gather data from a sample of 384 respondents who are customers of the Commercial Bank of Ethiopia in Addis Ababa, specifically focusing on the east district. The data collection methods included questionnaires and semi-structured interviews. Additionally, secondary data was collected from academic journals, books, and online resources. The researcher utilized a convenience sampling technique for participant selection.
 
 Findings: The study's findings revealed a significantly positive impact of the implementation of modern marketing communication tools on the business. These tools contributed to increased sales volume, heightened customer awareness, and expanded market share within the industry. The research also identified diverse opinions on the role of these tools in enhancing customer satisfaction and their importance in customer retention.
 
 Research, Practical & social implications: The research findings have several implications for research, practice, and society. From a research perspective, the study contributes to the existing literature by providing insights into the relationship between modern marketing communication tools and market performance. Practically, the findings offer valuable insights for businesses, especially banks, on how to leverage these tools effectively to enhance their sales and customer engagement. Socially, the study highlights the importance of adopting modern marketing communication tools in businesses, potentially leading to economic growth and employment opportunities within the community.
 
 Originality/Value: The originality of this research lies in its focus on the Commercial Bank of Addis Ababa, Ethiopia, examining the specific impact of modern marketing communication tools within this context. The study adds value by providing empirical evidence and practical implications for businesses operating in similar environments, offering a valuable resource for academics, practitioners, and policymakers in the field of marketing and communication.

Inventory Management Systems: A Comprehensive Review and Analysis

This research paper introduces an innovative Inventory Management System (IMS) designed to address common inventory challenges. The IMS leverages advanced technology, including barcode scanning and real-time analytics, to optimize stock levels, improve order management, and reduce carrying costs. Implementation of the IMS in real-world scenarios resulted in substantial benefits, including cost reduction and improved customer satisfaction through enhanced order fulfillment rates. Furthermore, the IMS promotes sustainability by reducing product waste, aligning with responsible corporate practices. In conclusion, the study highlights the significant advantages of implementing the IMS across various sectors, including cost savings, enhanced customer service, and environmental responsibility, making it an invaluable tool for businesses striving for efficiency and sustainability in a dynamic market. Keywords: Inventory Management System, Efficiency, Precision, Sustainability, Technology

Green Marketing- A Way Towards Sustainable Development

A clean terrain isn't an option but a necessity. And a collaborative consummation of this supreme verity is necessary if at all consecutive generations are to be blessed with a world worth living in. And much as it suits us to procrastinate a factual attempt to nurture our atmosphere back to a semblance of chastity, nature will show no consideration. Sustainability is the key to precluding or reducing the effect of environmental issues. For humans to live sustainably, the Earth's coffers must be used at a rate at which they can be renewed. This is where Green Technology comes by. Green Technology is a continuously evolving group of styles, accoutrements, ways and products that puts a check on the dangerous goods on natural coffers. marketable enterprises draw a handsome share of their inputs from nature and per force owe it back to nature to make all possible trouble to control and gradationally reduce its defilement. Green Marketing has surfaced as a abstract and sustainable tool for diligence to balance their business conditioning with a mindset of protection of our natural terrain. Green Marketing strategies are espoused by enterprises to secure competitive advantage over their challengers by offering recyclable, renewable, and applicable products to their guests. This paper aims at finding out how green marketing strategies have surfaced as a sustainable tool for businesses, especially in the Indian environment. It also aims at taking stock of the mindfulness regarding green marketing, especially among the youth.