Traditional Business Models Research Articles

Enhancing domestic food supply in the UAE: A framework for technology-driven urban farming systems

It is estimated that the recent ongoing supply chain disruptions have forced a transition in the traditional food supply chain business models. Organizations across all sectors are now adopting digital transformation strategies for embracing the new normal. Food security in the United Arab Emirates (UAE) is threatened by country's heavy reliance on food imports. Innovative urban farming systems are anticipated to improve the food security and sustainability to a great extent. Using a survey-based methodology, the present study aims to develop, validate, and apply a multi-dimensional innovative urban food production system framework for UAEs agricultural sector. Based on the data collected from 299 stakeholders across the whole agri-food supply chains in the UAE, the study determines ways of reducing dependency on food imports by scaling up technology-driven and resource-efficient innovative urban farming systems. Data were analysed and the model were moderated using Analysis of MOment Structures (AMOS) and Partial Least Squares- Structural Equation Modelling (PLS-SEM). The findings from the study highlight that digital technology moderates the relationship between innovative urban farming systems and sustainable urban farming. Resource efficiency and conservation practices were positively associated with sustainable urban farming. The study offers several managerial and theoretical insights.

Digital Transformation in Business Operations Management

The development of technology and digital transformation are important factors in improving business performance in Indonesia, with the government and companies needing to face challenges and implement efficient operational management to stay competitive in the digital era. The purpose of this study is to determine the application of digital transformation in business operational management. The method used in this research is a literature study method with a qualitative approach. The data analysis uses Miles and Huberman analysis, namely Data Reduction, Data Display, Conclusion Drawing / Verification. Research results in the advancement of information and communication technology have triggered digital transformation in business operational management, changing the way companies plan, organize, manage, and supervise the production of goods and services. This transformation enables companies to adopt digital technologies such as the Internet of Things, artificial intelligence, cognitive computing, advanced robotics, cloud technologies, blockchain, and big data to improve their efficiency, productivity, and competitiveness. Successful operations managers are those who understand and utilize these technologies, so as to better achieve company goals, respond quickly to market changes, and avoid gaps between customer expectations and traditional business models. Digital transformation has become key in managing efficient and sustainable business operations in an ever-changing era

Value Innovation in Enterprises under Digital Transformation: An Empirical Study Based on Managerial Economics

The evolution of digital technology in the past decade has propelled a sweeping wave of digital transformation, enveloping businesses across the globe. As enterprises are hastening to adapt and evolve, there is a profound metamorphosis in traditional business models and the very fabric of market structures. With digital interfaces becoming the forefront of customer interactions, supply chain management, product innovation, and organizational processes, there arises a pivotal question: How does this seismic shift influence value innovation? This study embarks on an exploration to decipher the impacts of digital transformation on value innovation, delving deep into the intricacies through the lens of managerial economics. By scrutinizing empirical data and employing analytical tools, we aim to unfold the synergies and discrepancies between digital strategies and economic value creation in the contemporary business milieu.

Transformation Mechanism of Supply Chain Micro and Small Enterprises in the Context of the Internet

The development of intelligent manufacturing has significantly impacted the traditional manufacturing industry, so it is urgent to change the traditional business model and production mode. As the world economy is in a downturn, small and micro enterprises in the subordinate position of the supply chain are facing a considerable threat. On the one hand, the substitutability is substantial; there is no bargaining power, which makes the enterprise's anti-risk ability 0. On the other hand, it is subject to significant restrictions, and the core enterprise thunder will protect all of the enterprises in the chain. This paper focuses on the risk identification and transformation mechanism of micro and small enterprises and whether micro and small enterprises have the conditions for transformation and upgrading in the context of the Internet. Based on the Bayesian formula, the AHP method model is the theoretical basis to help enterprises make decisions.

Fintech Helps the Bank of Changsha to Build An Ecological Banking Paradigm

The wind of science and technology has violently impacted the financial ecology and gradually overturned the traditional business model of commercial banks, so that banks have promoted fintech to a strategic height, in order to realize the multiplication of customer base, the doubling of benefits and the doubling of cost. In addition, the traditional lending financial model has been out of time, and what customers need is no longer breakpoint services. People's daily life and business behavior of enterprises have already been networked and systematized, which has become a node on the whole social ecological network, and financial services must be platform and ecological. In this context, The Bank of Changsha has made rapid countermeasures. On the basis of always focusing on the "three positioning" of urban commercial banks, it puts forward the development concept of building financial tech ecology, local living ecology, industrial investment ecology, industrial investment banking ecology and market investment ecology. Under the guidance of precise strategy and clear system, the construction path of ecological bank has become more clear, and the balanced growth of operating value, quality and scale has been realized, and the business structure has been continuously optimized. This paper analyzes the specific measures of the Bank of Changsha, and puts forward some suggestions for the construction of ecological bank, in order to have certain reference value for small and medium-sized banks to break through the difficulties.

Digital business transformation adoption in SMEs and large firms during COVID-19

ABSTRACT The COVID-19 pandemic has presented significant challenges for businesses worldwide. Those who recognised the importance of an online presence and transformed their traditional business model into a digital one were better equipped to mitigate the pandemic's negative impacts. However, there is a lack of research on the differences in digital transformation between small and medium-sized enterprises (SMEs) and large firms, as well as the main factors driving this transformation. This paper aims to address this gap by examining the successful digital transformation among these groups (SMEs and Large firms) in the province of New Brunswick, Canada, as a case study. The study uses secondary data from the TechImpact survey to explore the primary factors of this shift for both SMEs and large firms. The study confirms the critical factors identified in the literature, while also revealing new factors specific to each group. For SMEs, these include adopting a digital business model, investing in low-budget social media and e-marketing, recruiting young digital experts, and accessing government grants and subsidies. For large firms, the factors include implementing mass customisation through online channels, providing remote work incentives, using a comprehensive content management system, and prioritising electronic customer relationship management and e-loyalty.

Selection of the best Big Data platform using COBRAC-ARTASI methodology with adaptive standardized intervals

The advanced technologies emerging in Industry 4.0 are forcing companies in different industries to review their business models and become more compatible with advanced technological practices. While traditional business models are increasingly inadequate in the face of increasing competition, business models developed thanks to advanced technologies such as deep learning and machine learning have begun to replace them. However, developing business intelligence and intelligent applications using these technologies requires more data processing. In this context, Big Data technology is a unique instrument in providing the data businesses need to design more intelligent systems. In conclusion, the Big Data platform can significantly speed up the processes of structuring and processing the data and information generated and increase businesses' efficiency, performance, and agility. However, being a relatively new concept, the knowledge about the Big Data concept is limited, leading to several challenges for decision-makers concerning choosing the appropriate platform. Also, the number of studies on this subject is highly scarce. Hence, practitioners in various industries lack sufficient support from the research society on this issue. We could not find crisp and definite values to evaluate the BD alternatives despite comprehensive investigation. In that regard, as data, we addressed appraisals and opinions of IT professionals with vast knowledge and experience in assessment, selection, installation, and operation. We developed a novel decision-making model to evaluate and select the most proper BD platforms by processing these data. In this connection, the current investigation suggests a novel, robust, practical decision-making model for defining the combination of the weight of criteria based on pairwise comparisons of adjacently ranked criteria (COmparisons Between RAnked Criteria- COBRAC) and the ARTASI (Alternative ranking technique based on adaptive standardized intervals -ARTASI). It can handle complex ambiguities encountered in appraisal processes to address the Big Data platform selection problem. In addition, the current work developed a negotiation process quantitificated to determine the influential criteria affecting the selection of the Big Data platform. When we evaluate the outcomes of the suggested model, the most influential criterion affecting the selection of the Big Data platform is C12 “Ease of Use.” in addition, the most suitable Big Data platform for large-scale enterprises has been identified as A3 Microsoft SQL Server. The proposed model and its results have been validated based on extensive sensitivity and comparison analysis. These results also offer practical and managerial implications for the industry. Although many studies indicate that installation cost and speed are the most critical factors, this research found that, unlike these studies, ease of use is the most critical factor in choosing a BD platform. In this context, the BD alternative that provides the highest ease of use can produce more efficient results and reduce complexities in collecting and processing high volumes of structured and unstructured data.

Economic substantiation of the production of sheep breeding products in the farms of Ukraine

Activation of the development of sheep breeding in Ukraine is possible based on the spread of specialized farms for breeding and growing sheep for meat, which will contribute to the economy of rural areas, employment, and welfare of the population. The article presents the main results of the research on planning the economic efficiency of the production of sheep products in farms, taking into account the market conditions of Ukraine. The optimal structure for the organization of production and sale of sheep products is proposed and substantiated, which includes breeding, growing, slaughtering sheep, and entering the market through direct sales channels with sheep meat, wool, sheepskin, and main by-products, which will significantly increase the profitability of the farm compared to traditional business models in sheep breeding, which are focused on breeding and rearing with the sale of animals in live weight. The planning of the need for fixed and working capital, which is necessary for the organization of production of sheep products in a family-type farm with several 200 ewes, has been carried out. The cost of production of sheep breeding products by main species was calculated, which at the beginning of the project was 2.8 euros for 1 kg of lamb, 1.4 euros for 1 kg of wool, and about 10 euros for one sheepskin. It was determined that the required amount of advanced capital for the organization of the farm would be 88 thousand euros, which will be compensated by net cash flow in 3 years. The farm is predicted to produce and sell products in the market for a total of 54,000 euros in the first year, which will potentially increase to 80,200 euros by the end of the project, which will fully compensate for costs and ensure a net profit of up to 20,000 euros EUR per year at the end of the project implementation period. The estimated amount of net cash flow for five years is EUR 77,000, with an internal rate of return of 26.3 %. The ratio of net cash flow to the cost of capital will be from 33 to 63 %, which justifies the relatively high level of investment efficiency in the production of sheep products in family farm farms following the technical and economic features of the business described in the article. The influence of the production volume of sheep breeding products on indicators of investment effectiveness is also determined. It has been established that an increase in the number of ewes from 200 to 500 will increase the net cash flow by an average of 15-16 thousand euros per year for every 100 head of increase in the number of sheep with a simultaneous decrease in capital costs per head.

Intelligent Transformation and Customer Concentration

With the gradual integration of artificial intelligence and production processes, will the traditional business model of enterprises change? Based on the data of China's manufacturing companies listed in Shanghai and Shenzhen A-shares from 2008 to 2021, we study the impact of enterprise intelligent transformation on customer concentration. Using text mining and machine learning tools, this study measures the degree of enterprise intelligent transformation and constructs an index based on the relevant words in annual reports. A multiphase DID model results show that enterprise intelligent transformation reduces customer concentration. A series of robustness tests and endogeneity tests validate this finding. This study shows that enterprise intelligent transformation improves information disclosure quality, strengthens innovation ability, and expands business boundaries, thus reducing customer concentration. Our findings provide empirical evidence to strengthen enterprise intelligent transformation further and maintain robust supply chain relationships.

What is unique about sustainable business models for the base of the pyramid?

AbstractResearch on sustainable business models (SBMs) has been hindered by the use of traditional business model (BM) components indiscriminately applied to explain sustainable value (SV). Moreover, little has been done to reveal key components in BMs aiming to address the needs of the poor; that is, that part of the population referred to as the base of the pyramid (BoP). Following a case study methodology, we observe that conventional components are insufficient to clearly explain SV in SBMs for the BoP. The main contribution of this research is that it discloses that in SBMs for the BoP, activities (grouped into elements and components) are distinctively amalgamated to produce SV. This arrangement might be unique to SBMs for the BoP, and here we opt to present it in the form of a framework that articulates both a priori and emergent components and elements. In this framework, value adoption and value transmission are integrated as new components for analyzing this type of BM.

Sustainable Management of International Partnerships for Cultural Heritage Digitization in Brazil

The demand for digitized cultural heritage has increased over the last few decades; digitization is indeed considered a powerful means to preserve and enhance cultural heritage and make it accessible to the wider public for education and research purposes. However, digitizing cultural heritage is a complex process, requiring specific competencies, skills, software, technologies, and, therefore, human and financial resources. Cultural organizations are therefore rethinking their traditional business models, often deciding to outsource their digitization projects or implementing PPPs—public–private partnerships. This is particularly evident in developing countries, where it is also challenging to find the required resources locally and international cooperation is sometimes necessary. However, international PPPs for the digitization of cultural heritage present several unsustainable aspects. There is therefore a need for a deeper understanding of which practices should be implemented to sustainably manage these collaborations. This paper aims to investigate this topic using a case study analysis of two international PPPs for the digitization of cultural heritage in Brazil. The analysis highlights relevant managerial choices that led these projects to positively impact local social, economic, and environmental development, thus bringing early insights to advance the academic and practice discussions on the above-mentioned topic.

Sufficiency-based circular business models: An established retailers’ perspective

Taking on the much-criticized concepts of green growth, bioeconomy, and efficiency, both sufficiency and, in certain circumstances, the circular economy, are presented as potential new paradigms that can play a central role in a transition towards a stronger sustainability and enable humanity to remain within planetary boundaries. In this context, this study aims to identify new sufficiency practices that have been adopted by retailers and to assess to what extent these practices have transformed their traditional business model, thus providing useful insights to practitioners, policymakers and the nascent academic literature on the topic. Through a combination of action research and case studies of the French actors Fnac-Darty and Decathlon, this article emphasizes that retailers may try to slow material and value loops by assessing products’ repairability and durability and informing customers through a specific index, for certain products or more globally their overall product portfolio, but also by using such indexes in eco-design requirements to suppliers, supplier selection processes, and product purchasing policies. By favoring the most repairable products and excluding the least durable ones, retailers can also improve their value proposition to customers. Through concrete examples, this study also shows that sufficiency-based business models can be scaled up and describes some of the associated processes. On a less optimistic note, certain limitations of the observed ongoing upscaling processes are highlighted, amongst which are the limited number of retailers that have started this process, the limited contribution of these new practices to overall value creation and capture at the firm level, and clear evidence of rebound effects.

Analysis of Jewelry Brand Marketing Management Strategies Based on Consumer Psychology

With the continuous improvement of China's economic level, non essential goods such as jewelry have entered households, and the output value of the jewelry industry has been increasing year by year. Jewelry consumption has played a crucial role in people's livelihood consumption. At the same time, under the conditions of economic globalization, brand marketing has always played an important role as an important medium for interaction and communication between enterprises and consumers. The development of technology has gradually diversified the forms of information dissemination, and corporate marketing methods are also catering to the changes in the Internet. With the development of the times and the popularization of e-commerce, consumers' psychology and behavior have undergone significant changes, which will directly affect the development of traditional jewelry business models. Consumer psychology plays a crucial role in the development of marketing activities, and it is necessary to fully consider the actual needs of the situation, conduct research on consumer psychology in different eras, populations, and geographical environments, provide corresponding information support for marketing activities, and ensure the effectiveness of marketing work. Based on this, this article analyzes the marketing management strategies of jewelry brands under the influence of consumer psychology.

Examining the facilitators of I4.0 practices to attain stakeholders’ collaboration: a circular perspective

ABSTRACT The fourth industrial revolution (I4.0) has changed the traditional business model, bringing various benefits, including increased efficiency and productivity in organizations. However, to attain success in I4.0 practices requires collaboration from various stakeholders. This study objectives to identify the facilitators of I4.0 practices that can lead to successful collaboration among stakeholders from a circular perspective. An extensive literature review is performed to identify 14 potential facilitators. Further, the study adopts a mixed methodology of Best-Worst Method (BWM) and Interpretive Structural Modeling (ISM) to analyze the interconnectedness among the identified facilitators. BWM method was used to determine the relative importance of the identified facilitators, while ISM technique was used to determine the relationships between the facilitators of I4.0 practices. The findings from the study reveal that to strengthen stakeholder collaboration, organizations need to focus more on training and capacity-building programs and create more opportunities for technology exchange.

Prospects of Cost Leadership Strategy for Tourism Performance: Are Cost-Reduction Techniques a Solution?

Tour operators are critical in Kenya's multi-billion-dollar tourism industry, a vital pillar of the country's economic development agenda. However, recent statistics indicate that tourism performance has declined due to various factors, including political and security unrest, bureaucratic government policies, stiff competition, and the COVID-19 pandemic. Additionally, the emergence of sharing economy platforms such as Airbnb has threatened the traditional business model of tour operators. At the same time, a 16% value-added tax on sales has also put pressure on their revenues. In addressing these challenges, this paper examined how tour operators in Nairobi City County can enhance their performance by implementing a cost leadership strategy in Kenya. A descriptive survey study was conducted with 15 company owners and 210 managerial staff. The respondents answered structured questionnaires and interviews, and the data were analyzed using descriptive and inferential statistics. Correlation analysis revealed a moderate positive relationship between cost leadership strategy and organizational performance (r=0.449, P<0.05), rejecting the null hypothesis, with the strategy explaining 20.2% of the variation in performance (=0.378, P<0.05). The study recommends that tour operator companies adopt strategic alliances with the supply chain, implement operational efficiency frameworks, entirely automate their services, and follow cost-reduction mechanisms to enhance organizational performance. These findings guide tourism stakeholders, particularly company executive teams, on the organizational performance implications of strategic cost-reduction techniques in the context of Nairobi City County's tour operator industry. Keywords: Cost Leadership Strategy, Organizational Performance, Nairobi City County, Tour Operators, Tourism, COVID-19

Green to gold: consumer circular choices may boost circular business models

AbstractConsumers are the true agents of transformation in the circular economy. By making conscious and sustainable choices, they drive the development of circular business models, challenging the status quo and inspiring change for a more sustainable future. The main purpose of this paper is to assess the role of consumers in the circular economy as drivers of the development of circular business models. In detail, we explore whether Portuguese citizens make circular consumption choices and what factors influence these choices. An online questionnaire was used to collect data from a sample of 826 Portuguese. The quantitative analysis was performed using the Partial Least Square (PLS) method. Overall, we found that: (i) both pro-environmental habits and environmental concerns positively influence their circular consumption choices, (ii) pro-environmental habits positively influence consumers’ greenwashing perception, and (iii) greenwashing perception highlights environmental concerns. This study demonstrates that by adopting pro-environmental habits, consumers can play a central role in transforming companies’ traditional business models into circular business models. Consequently, a model is proposed where consumers’ motivations for adopting circular behaviors are used to convert the companies’ business model from linear to circular. The model emphasizes the active participation of consumers.

E-Commerce and Digital Transformation: Trends, Challenges, and Implications

In the dynamic landscape of modern commerce, the symbiotic relationship between e-commerce and digital transformation has become a cornerstone of business evolution. E-commerce, facilitated by the internet, has revolutionized the buying and selling of goods and services, transcending geographical boundaries and reshaping traditional business models. Simultaneously, digital transformation represents a strategic response to the digital age, encompassing the integration of digital technologies into all aspects of business operations. This paper rigorously examines the interconnected domains of e-commerce and digital transformation, uncovering evolving trends, persistent challenges, and far-reaching implications. Examining consumer behaviour patterns in the context of digital transformation, we highlight the shift towards Omni-channel experiences and personalized interactions. Through industry case studies, we showcase successful transformation instances and their outcomes. The fusion of e-commerce and digital transformation has redefined modern commerce. E-commerce's evolution and digital transformation's strategic integration of technology have reshaped business paradigms. Ultimately, this research enhances our understanding of e-commerce and digital transformation's profound implications for businesses and society, guiding stakeholders in harnessing technology's potential while navigating a dynamically evolving business environment. Our findings underscore the benefits of digital transformation, including enhanced operational efficiency, broader market reach, and enriched consumer experiences. Practical recommendations for businesses navigating this landscape are provided.

Unleashing Digital Agility

The emergence of digital technologies has disrupted traditional business models, forcing companies to adopt agile responses to remain competitive. Digital agility, the ability to quickly adapt to digital disruptions and opportunities, has become a crucial factor in organizational success. This study aims to synthesize the existing literature on agile responses to digital challenges from a strategic capability perspective, examining the various facets of digital agility, including its antecedents, outcomes, and the organizational factors that enable its development. The present study provides a synthesis of drivers, challenges, strategies, and outcomes of digital agility aligned with the organization, and presents a discussion about future research direction. The study can help organizations unleash digital agility to respond effectively to digital challenges.

Challenges Faced by Restaurants with Food Delivery Applications – A Critical Review of the Literature

The food delivery market in India is rapidly growing with agile lifestyles, especially post-pandemic. With cheaper mobile data and better digital infrastructure, the technology is disrupting a lot of traditional business models. With this, the food delivery aggregators do seem to be a boon to many stand-alone restaurants which got them a digital presence without any initial investments on the websites, APPs and marketing. However, this technological advancement has also introduced a range of challenges for restaurants. This research paper critically reviews the existing literature on the challenges faced by restaurants with food delivery applications. Experts from their papers have reiterated the importance and benefits of food delivery aggregators to restaurants. The paper explores the detrimental impact of delivery applications on restaurant operations, customer relationships, financial aspects, and the overall industry landscape. By analysing and synthesizing the findings from various studies, this paper aims to provide valuable insights for restaurant owners, managers, and policymakers to address and overcome the challenges posed by food delivery applications. Keywords: Restaurant Business, Quick Service Restaurants, Online Food Delivery Applications, Challenges faced by restaurants.

Web3 and marketing: The new frontier

In recent years, there has been a growing interest in decentralised technologies and the potential of Web3. These technologies have the potential to upend traditional business models and disrupt several industries. There is also a growing recognition of the need for new marketing approaches to promote these technologies and drive adoption. The ‘tech stack’ of Web3 is complex and still evolving, making it difficult to communicate its benefits to a mainstream audience. Additionally, the decentralised nature of these technologies presents unique marketing challenges since there is no single company or organisation that controls the narrative. This paper explores the market for Web3 technologies and the opportunities and challenges for marketing in this space. It begins with an overview of the Web3 marketplace, including a discussion of the size and scope of the market and the major trends driving growth. This is followed by a section on marketing in Web3, including a discussion of the unique challenges and opportunities posed by technology. Finally, the paper concludes with a case study of an effective marketing campaign for a Web3 project.