Traditional Business Practices Research Articles

The importance of performance measurement and management in sustainable supply chain governance among SMEs

PurposeThis study presents evidence of the role of performance measurement and management (PMM) in sustainable supply chain governance. This study tests a model hypothesizing whether it is the PMM itself or the mediating effect of supply chain governance that is essential for both business and sustainability performance.Design/methodology/approachThis study builds on a survey of 274 SMEs in Finland.FindingsThe findings indicate that PMM does not directly contribute to SMEs’ business or sustainability performance. Supply chain governance mediates the relationship between PMM and business performance. Business performance also enhances sustainability.Practical implicationsThese findings can guide managers in managing company relationships with customers and suppliers. The mediating role of supply chain governance highlights the potential of PMM to enhance performance. Without supply chain governance, the PMM, while efficient in traditional business practices, may lose its effectiveness because of the pressure to advance sustainability values within firm operations.Originality/valueThe role of PMM in enhancing supply chain sustainability is frequently overlooked in the existing research, necessitating an empirical evaluation of PMM’s impact on supply chain sustainability. This study addresses this gap by focusing on the SME context, where the pressure to adopt sustainable practices is increasing, yet SMEs employ PMM less frequently than larger firms.

Platforms and trust as two columns of sharing economy

In the past two decades, economic models based on platform-based sharing, driven by the IT revolution, have caused a fundamental shift in traditional business practice, global capitalism, and societal values. The platform, along with all its features, has taken over the role of the organizational form since they have brought together strangers with under-utilized capacities and belongings, with those who need them without looking for ownership. The entire economic ecosystem - marketing techniques, business practices, supply chains, and consumption habits - has undergone a significant transformation. Consumer behavior is changing rapidly, and consumers are looking for appropriate and efficient access to goods and services through the Internet, without the financial, emotional, and logistical burdens of ownership. The radius of trust which was initially confined to family, friends, and local communities; now encompasses strangers who do not speak a common language and who are in different countries. Trust driven by Digital Identity (DI) and Trust and Reputation Information (TRI) have enabled what was considered unbelievable or even impossible some years ago. Further expansion and deepening of trust, based on new technologies combined with the international legal framework, has the potential to rewrite modern capitalism and societal values. This paper introduces the role of platforms in the evolution of the sharing economy, the role of trust in promoting such platforms, and the role of well-designed platforms in fostering and nurturing trust which is essential for promoting and sustaining sharing economy models.

An Empirical Study of Influence of Emerging Growth of Electronic Commerce on Traditional Business Practices in India

Electronic Commerce (E-Commerce) is rapidly becoming the biggest contributor to the growth of the global economy in the present business landscape. This e-commerce business revolution is being witnessed in the home market of India as well. In India, the e-commerce players have improved the quality of the goods and services and made the Indian consumer very happy by offering discounts, cash-back, and other attractive offers. On the one hand, they have created new and many job opportunities. On the other, they are challenging traditional business institutions and India’s unorganised sectors with fierce competition and huge challenges. In this research paper, we look at the pros and cons of e-commerce for both traditional firms and consumers.

The Change of Millennial Tourist Interests in Sam Poo Kong Temple, Semarang

The advent of the fourth industrial revolution signifies not only significant technological progress compared to earlier eras, but also the ability to revolutionize traditional business practices. The Sam Poo Kong Temple, which was once intended as a site of prayer for Confucian adherents, has transformed into a well-liked tourist destination where people engage in selfie activities, thereby enhancing their social standing. This research aims to understand the factors influencing the change in millennial tourists' interest towards Sam Poo Kong Temple. To evaluate the impact of social media usage and digital technology on the interests and behaviors of millennial tourists. To identify the preferences and motivations of millennial tourists in choosing tourist destinations such as Sam Poo Kong Temple. This study employs a qualitative methodology using a case study technique. Data is gathered via extensive interviews with relevant individuals, including temple administrators, tour guides, and tourists, with a particular focus on millennial. The findings indicate that social media plays a key role in marketing Sam Poo Kong Temple and attracting millennial tourists' interest. The dissemination of engaging content such as photos, videos, and narratives on social media has increased the visibility of the temple and sparked significant interest from tech-savvy millennial. Sam Poo Kong Temple has transformed from a traditional place of worship into a highly sought-after tourist destination, especially for photo opportunities and showcasing social status on social media. This impacts the preferences and motivations of millennial tourists in selecting tourist locations, with a primary focus on architectural beauty, unique experiences, and visibility on social media.

Revolutionizing Batik: How Fintech Empowers Malang's MSMEs for Economic Growth

Revolutionizing Batik: How Fintech Empowers Malang's MSMEs for Economic Growth

ENTREPRENEURIAL E-COMMERCE MARKETING TO IMPROVE THE PERFORMANCE OF MICRO, SMALL, AND MEDIUM ENTERPRISES (MSMES) IN BANDAR LAMPUNG CITY

In Bandar Lampung, approximately 18% of MSMEs have not embraced e-commerce, despite its growing popularity and convenience. Limited access to technology and the internet, lack of digital literacy, concerns about security and trust, and traditional business practices are all factors contributing to this low adoption rate. This research aims to empirically investigate how digital marketing affects intellectual capital, perceived quality, and overall performance of MSMEs. Additionally, it explores the impact of MSMEs' intellectual capital and perceived quality on their performance. Employing a quantitative approach with descriptive analysis, this study targets MSME actors in Bandar Lampung. The sampling strategy involves multi-stage cluster purposive sampling, selecting 366 respondents for data collection through an online questionnaire using Likert scales. The analysis is conducted using Smart PLS, and the results reveal that digital marketing significantly and positively influences intellectual capital, perceived quality, and overall performance of MSMEs. Furthermore, both intellectual capital and quality perception show a positive and significant influence on MSME performance.

Raving Fans or Silent Critics? Brand Service Recovery’s Impact on Positive eWOM

Brand Service Recovery Strategies (BSRS) have garnered significant attention due to their transformative potential in traditional business practices. However, the precise influence of BSRS on fostering positive Electronic Word of Mouth (eWOM) remains inadequately elucidated within the academic literature. Most scholarly investigations have tended to adopt either a theoretical perspective or have overlooked intermediary factors, particularly the role of consumer attitudes toward the brand. Drawing upon the Social Exchange Theory, this study presents an empirical model that seeks to examine whether consumer attitude toward the brand mediates the relationship between BSRS and positive eWOM. Based on survey data from 292 Executive MBA students in a large Chinese university, our study confirms that BSRS strongly impact consumer attitudes, leading to increased positive eWOM. Additionally, we discover that consumer power plays a moderating role, highlighting its contextual importance in this relationship. This study provides vital practical insights for businesses, emphasizing the need for comprehensive strategies involving BSRS, fostering positive consumer attitudes, active eWOM engagement, tailored approaches for consumer power, and ongoing adaptation to customer feedback, all contributing to improved brand perception and customer satisfaction in today’s business environment.

Analysis of Tesla's Marketing Strategy Model

A prominent American electric vehicle and renewable energy company, with a history of leadership and innovation in the automotive sector, Tesla has consistently pioneered advancements. This study explores Teslas synchronization of online and offline marketing tactics, and probes how Teslas dual marketing approaches, online and offline, complement each other through employing a case study method, which encompasses distinct brand positioning, emphasis on digital and regional strategies, active social media integration, seamless online-offline interplay, and varied advertising methods such as word-of-mouth and pricing techniques. Teslas robust collaborations within the supply chain further fortify its competitive standing. The findings sustain Teslas market leadership and hold broader implications. They contribute to heightened market competitiveness, shed light on marketing models for emerging markets, reveal the potential of digital marketing, and even inspire the transformation of traditional automotive business practices. Today, Tesla cars already occupy a very high market share. Compete in the market through several different strategic approaches. Now people need to study what kind of model and supply chain can make this brand popular and successfully pay for it.

Impact of social media in the growth and development of digital entrepreneurship in Nigeria

Traditional entrepreneurship is regarded as the process of classifying and expending the prospects that are in the market, transforming the concepts into achievement, performing marketing undertakings to promote an innovativeness, harmonizing ideas and bearing risk and uncertainties that are involved in the business in order to strive for excellence. But, with advent and development of information and communication technology (ICT), the processes and functions performed gradually changed to what we now have as digital entrepreneurship that entrepreneurs use and are getting momentum with the use of social media. Digital entrepreneur is considered independent by accumulating of functionality through digital means, relying on Information and Communication Technologies (ICT) as well as digital media facilities to discover prospective clients. These facilities accord digital entrepreneur the chance to support their professional ethics outside the confined community using different social media platforms. Digital entrepreneurship encompasses online businesses that individuals create and run which combines business, market knowledge and network technology to reinvent traditional business practices through digitization, creation of a new venture, Transformation of Existing Business, Creating and use of Novel Digital Technologies. This is qualitative research which aims to examine the influence of social media in digital entrepreneurship. It was established in the research that most entrepreneurship fails due to lack of implementing innovative and novel technologies like the social media. The paper found out that those entrepreneurships that embrace the digital technologies succeeds and recommended the usage of social media for the development as well as growth of digital entrepreneurship in Nigeria.

MSMEs in Surabaya: A Digitalization Literacy For Business

The ability of MSMEs to implement digital concepts in their business is becoming increasingly crucial, since changes in buying and selling transaction techniques, lifestyle changes, and developments over time all contribute to the digitalization of MSMEs. Although the majority of MSMEs in Gayungan District, Surabaya City, still employ traditional business practices, the sub-district has a lot of potential for MSMEs and has a number of frequent clients. In this exercise, information is shared through conversation, Q&A sessions, and hands-on practice with digital business software. Digital marketing through the use of marketplaces and online services through applications or websites is the method of business digitalization that is employed. Participants in this activity will be able to employ digital applications, like online marketplaces and services, in their business operations and comprehend their advantages.

Can blockchain technologies enhance environmental sustainable development goals performance in manufacturing firms? Potential mediation of green supply chain management practices

AbstractThe nexus between manufacturing firms and the green environment is unavoidable. It is merely due to the huge waste generation and greenhouse gas emissions resulting from large‐scale production and complex supply chain management processes involved in manufacturing firms. Continuation of the traditional business practices during Industry 4.0 made it impossible for the manufacturing firm to commit to green environmental practices and comply with environmental SDGs. At odd, it requires novel business strategies to ensure compliance of manufacturing firms with environmental sustainable development goals (SDGs). Blockchain is an ideal technology for delivering green environmental‐related information because it offers real‐time, shareable, and entirely transparent data kept on an immutable ledger that is accessible to members of a network. These green environmental‐related information received in real‐time through blockchain technology help in the transformation of the traditional supply chain management practices into a more green supply chain management practice. This green transformation ensures business compliance with environmental SDGs and that compliance is shared with multiple stakeholders through blockchain technology in real‐time, thus approving a positive mediating role of green supply chain management practices between blockchain technology and environmental SDGs performance. The proposed strategic framework through various propositions development will mainly offer policy insights toward (a) identifying novel antecedents of blockchain technology, (b) offering insights toward upgrading the traditional supply chain management framework into a green supply chain management framework, and (c) illuminating novel mediating role of green supply chain management practices between blockchain technology and environmental SDGs performance.

A scenario-based sustainable dual-channel closed-loop supply chain design with pickup and delivery considering social conditions in a natural disaster under uncertainty: a real-life case study.

In the context of the COVID-19 pandemic, utilizing the potential of online markets to sell products has become increasingly important for creating competitive advantages and ensuring the growth and survival of businesses. The pandemic has disrupted traditional business practices, and with social distancing measures in place, consumers have turned to online channels to meet their needs. As a result, businesses that have adapted quickly to online markets have been able to maintain their customer base and revenue streams. Thus, considering the potential of online markets is of utmost importance in the current pandemic situation. In this regard, the present research aims to provide a practical framework for creating a green and sustainable closed-loop supply chain network (SCLSCN), including the integration of online markets, to assist managers in making decisions that support economic, environmental, and social goals. Accordingly, a multi-objective mixed integer linear programming (MOMILP) optimization model was designed under uncertain demand and disruption caused by natural disasters in Iran's home appliance industry. The study also considered changes in the capacities of online and marketplace sales channels, revealing a significant reduction in costs at each stage. The results show that the increase in demand has a direct impact on the production level, warehousing, and transportation costs, leading to social impacts on the model. However, the current system cannot handle an increase in demand of more than 20%, requiring managers to make decisions to increase production capacity or build new factories. Thus, the study highlights the importance of considering online markets as a means to adapt to disruptions caused by the pandemic and maintain a competitive edge.

SOCIAL ENTREPRENEURSHIP AS A TOOL TO ACHIEVE THE GOALS OF SUSTAINABLE DEVELOPMENT

The purpose of the article is to position social entrepreneurship as a tool for achieving the goals of sustainable development. Modern realities position social entrepreneurship as one of the effective and important tools for finding innovative approaches to solving social problems of both civil society and small and medium-sized businesses. The research consists in the positioning of social entrepreneurship as an innovative form of business, in its ability to introduce innovations, economic and social solutions to social problems, including poverty, support of vulnerable sections of society, environmental protection, protection of human rights, energy security, preservation and restoration of land resources, uneven distribution of capital, etc. The lack of resources in the state budget and funding of the social sphere based on the residual principle encourages people and communities to become more active and look for innovative approaches to solving their problems. A socially oriented business is able to contribute to the solution of environmental, social and economic problems, which are targeted by the Sustainable Development Goals. Social enterprises develop and disseminate new approaches to achieving the Global Sustainable Development Goals at the local level, starting with the lowest link – each member of the community, using both traditional business practices and innovation. Implementation of the policy of socially responsible enterprises and business ensures the competitiveness of the national economy. Without the implementation of the policy of socially responsible enterprises and business as a whole, it is impossible to ensure the competitiveness of the national economy. Social responsibility in the context of the introduction of sustainable development is a necessary condition and quality of the system of social interaction between social subjects at all levels of management. The competitiveness and image of the enterprise are largely determined by the level of socially responsible relations both within the enterprise itself and in the system of external relations. The more social enterprises operate in the country’s economy, the higher is the overall result of economic activity in the economic system and the more tangible is its social effect.

"EMERGING TRENDS IN DIGITALTRANSFORMATION AND THEIR IMPACT ONTHE WORKPLACE: A REVIEW OF THELITERATURE"

“Digital transformation” is a progressive mode that rapidly transforms traditional business models, practices, and operations via digital technologies. In the digital age whole world is deeply affected by DT and it has a significant impact on employees and their well-being which enforce us to do this study. This study aims to explore emerging trends in DT and examine the impact of DT on the workplace and workforce. The conceptual framework presented in the study throws light on understanding the key drivers and their impact associated with DT. This study has used a qualitative approach and the research design is exploratory where we have studied existing literature. The methodology involves analyzing the theoretical and empirical research papers, journal articles, and conference proceedings through inductive reasoning. The review of the literature examines the emerging trends and their impact on the workplace and workforce. The study is significant as it aims to inform the future research and practices which rapidly occur in the evolving field. Results suggest that AI integration in HR analytics and cybersecurity concerns are important factors while creating new business models and investing in human capital and training which are practical solutions to challenges posed by digitalization. Business strategy has a significant role in mitigating the impact of DT on organizations. The study's practical implications focus on the high urgency from the leaders to change their behavior in order to create mental stability and eradicate the threats to the employee’s emotional and mental health. Effective digital transformation among human capital should consider technology adoption with suitable skills, resilience in the working atmosphere and adaptability, team communication, and collaboration. The theoretical implications of the study highlight the need for planning for DT at all levels. AI in HR analytics improves workplace well-being and social protection.

COMPARISION OF TRADITIONAL AND SUSTAINABLE BUSINESS PRACTICES

COMPARISION OF TRADITIONAL AND SUSTAINABLE BUSINESS PRACTICES

After Clouds Sunshine: A Theoretical Framework for SMEs Survival amidst COVID-19 Pandemic

Recently, entrepreneurial orientation (EO) among small and medium-sized enterprises (SMEs) has become an essential topic among business practitioners and academics. Since the current economic and social landscape changed with the emersion of the COVID-19 pandemic, traditional business practices that focus on profit in a highly competitive environment can no longer be relied on by SMEs. In today's world, profit is not the only element influencing a business's survival and success. Consequently, SMEs should implement a value-creation strategy and seek a sustainable competitive advantage. EO is currently a critical aspect in assisting businesses in achieving such a niche. Despite the relevance of EO, there have been very few studies that link EO to SME performance. According to this viewpoint, this study discovered a theoretical relationship between EO and SMEs performance through a comprehensive literature review and built a conceptual framework for empirical validation. This study also elucidates the role that innovation practices (IP) play as a mediator in this relationship, which has received little attention in previous research. Moreover, the government is the primary source of support for technology, innovativeness, and finance. Thus, the conceptual model also examines the moderation role of government support in the relationship between IP and SMEs' performance.

Favor reciprocity, innovation and inefficiency: the double-edged sword of business-to-business wasta relations

PurposeThe purpose of this study is to empirically investigate the dark side of business-to-business (B2B) relationships in traditional business practices worldwide that rely on strong networks.Design/methodology/approachThis study applies a questionnaire survey to collect data from buyers in 224 Kuwaiti firms and uses the partial least squares structural equation model for data analysis.FindingsDrawing on the social exchange theory, we test the relationships between B2B wasta, relationship satisfaction, innovation and efficiency. The findings show that despite the belief that wasta brings long-term benefits when applied in B2B relationships, it negatively impacts the firm’s efficiency.Originality/valueThis study contributes to the existing literature on B2B relationships by identifying important issues related to the multifaceted nature of B2B wasta relationships. The study confirms the importance of relational and innovation benefits over economic consequences based on elements of social exchange theory, which extends our current understanding of the application of SET in B2B wasta relationships.

Blockchain Security : Enhanced Control Evaluation Approach to Protect Organizations’ Accounting Information

Blockchain technology can revolutionize transaction processing and reimage organizations’ traditional business practices. The literature argues that blockchain may also hurt organizations when key controls necessary to guide its implementation are not in place. The literature points to inadequacies in blockchain implementations, particularly related to the effective selection and implementation of blockchain controls in organizations. This research develops an approach that addresses the weaknesses in the literature. Such approach will allow organizations to be more precise in their implementation of controls to achieve successful blockchain implementation. The proposed approach uses fuzzy set theory to prioritize business controls more precisely in organizations. It is argued that fuzzy set theory allows for a more accurate assessment of imprecise criteria than traditional assessment methodologies, and therefore generates more accurate assessments critical for decision-making. Through a case, the developed approach proved successful in providing accurate implementation of controls to protect organizations’ accounting information.

Long-Term Partnerships in Japanese Firms’ Logistics Outsourcing: From a Sustainable Perspective

This study aimed to reveal the actual state of Japanese firms’ logistics outsourcing, and examine their relationship with LSPs. This study addressed the following issues by conducting a case study of six leading manufacturing firms. First, it clarified the characteristics of Japanese-style logistics outsourcing as: the outsourcing of the total activities, the consigning to a single LSP, and the development of advanced information systems. Moreover, it examined the logistics outsourcing performance from a sustainable perspective, and concluded that Japanese-style logistics management enables firms to achieve high performance in all the economic, environmental, and social dimensions. Second, this study confirms that the traditional Japanese business practice of long-term partnerships is still maintained in logistics outsourcing management. Third, this study also explored how long-term partnerships create sustainable competitive advantages. Finally, based on these findings, a theoretical framework illustrating the relationship between Japanese-style logistics outsourcing and firms’ sustainable competitive advantage is presented. Our findings may encourage companies to develop a long-term partnership with their logistics service providers, and to put environmental and social indicators into their KPI system to achieve a sustainable competitive advantage by balancing the economy, environment, and society.

Penaksiran Laba Pada Akuntansi UMKM Via Online di Kabupaten Sumenep

MSME actors in Sumenep Regency generally have not implemented the separation between business entities and private entities so that measuring profits is not in accordance with SAK EMKM. Currently, MSME in Sumenep Regency market their products using social media and sell directly. Talking about the birth of accounting, accounting practices were born with business practices, therefore there is a change from traditional business practices to online so that all accounting practices are changed. This research is a qualitative descriptive study that uses primary data by conducting interviews with correspondents with the technique of describing the data discussed with existing theories and conclusions will be drawn. The population of this study is some MSME in Sumenep Regency who market their products online with a random sample of 13 MSME actors. The results of this study resulted in online MSME profit measurements using varied and simple accounting practices.