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According to the authors, the digital transformation of the global economic system, which has affected all areas of business and sectors of the economy, has led to the formation of a new business model aimed at creating a single financial and economic space without borders, contributing to new forms of obtaining added value and "digital dividends” by combining various technologies (for example, cloud technologies, sensors, big data, 3D printing), as well as the development of markets for goods and services, labor reserves and capital through transformations at all social levels. The authors believe that all of the above opens up expanded opportunities for organizing and doing business and allows increasing the potential for creating radically new products, services and innovative business models focused on sustainable business development in the new conditions of digitization of the economic system. In this regard, the paper explores key approaches to the definition of the term "digital transformation of business.” The trends of business digitalization and, accordingly, the factors that are inhibitors and drivers of the development of a new business model of cooperation and cooperation of modern organizations were identified. In the process of analysis, the authors determined the vector of development of business models in the context of the digital transformation of the global economic system. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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The role of MSMEs is very large for Indonesia's economic growth, where the contribution of MSMEs to the gross domestic product (GDP) reaches 60.5% and to employment of 96.9% of the total national employment absorption. However, during the Covid-19 pandemic, the government imposed a semi-lockdown by limiting business operating hours, by limiting 50% of the capacity of arriving consumers and reducing operating hours to only 20.00 at night. This policy resulted in a decrease in product demand by 84.8%. However, the MSMEs coffee shop only had an impact of 16%. Based on this condition, researchers are interested in conducting research on MSMEs, especially coffee shops during a pandemic. The purpose of this study to analyze the Market Orientation effect of Product Innovation on Marketing Performance and to analyze the role of Product Innovation in mediating the influence of Market Orientation on Coffee Shop Marketing Performance in Medan City. The survey was conducted on 143 coffee shop entrepreneurs who still survived from the COVID-19 pandemic in the city of Medan. Data collection was carried out using a questionnaire with direct interview with the coffee shop owner. Data Analysis using the Partial Least Squares (PLS) analysis technique. The results indicate that market orientation has a positive and significant effect on product innovation at Coffee Shop in Medan. Market orientation has not significant effect on marketing performance at Coffee Shop in Medan City. Product innovation has a positive and significant effect on the marketing performance of the Coffee Shop in Medan City, and there is a role between product innovation in mediating the effect of market orientation on marketing performance at the Coffee Shop in Medan City. Coffee shop should establish mechanisms to obtain information about customer needs and expectations and to disseminate and effectively use this information among business functions. © 2023 WITPress. All rights reserved.
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Covid-19 pandemic brought the most powerful and intelligent of species on earth, to its knees, forcing countries to lockdown. India, a country of 1.37 billion, was under lockdown initially for 21 days, from 24th Mar'20;extended till 31st May'20. The 2nd wave of COVID-19 infections hit the country from Mar'21 and the situation was far worse than first wave and daily infections were four times more than that in Sep'20. Lockdowns may be a recurring feature till the situation comes under control, though the degree and kind of restrictions, would vary dynamically as our experience and the knowledge improves. Indian Railway (IR), the country's lifeline, used to run 20,000 trains daily before Corona struck, using its infrastructure of 72,038 km of route served by 7,318 stations with over 12 lakh employees. It stopped all passenger operations, first time in history, from 22nd Mar'20. However, transportation of essential goods like food grains, petroleum products, coal for the power plants etc. continued uninterrupted. Special parcel trains were started from 7th Apr'20 for the goods which used to move by parcel vans attached to passenger trains and also to make up for tapering of road transport. On demand from states, Specials Trains were run for migrants from 1st May'20. Special passenger trains connecting major metros were started from 12th May'2020. By 01st June'20, when the lockdown eased, 103 passenger trains were running. Paper attempts to codify the knowledge and experience, charting out the journey of IR during pandemic with focus on developments which were either triggered by the pandemic or where there was a quantum shift or acceleration of pace. When this paper was conceived, the pandemic was still unfolding and even now – a year and a half later, things have not yet settled. Nonetheless, Indian Railways has consolidated in certain areas and is still struggling in others. This paper is not only about what IR did exceptionally well but also of what it could not or did not do. It is about the reflection of reality not selective presentations of reality. For that matter the title is misleading and given the choice we would like to change it to -"Indian Railways—An Elephant on the Move” (Life in the Times of COVID-19) © 2023 DMICS.
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Internal control is an important internal governance mechanism of enterprises and plays an important role in preventing and controlling corporate risks. This paper utilizes COVID-19 shocks and uses data from listed companies in China for 2019–2021 in order to study the impact of internal control on enterprise resilience and its functioning mechanism. The findings show that internal control significantly improves enterprise resilience during a crisis. By using firm characteristic quantile regressions, it is found that under a crisis, larger firms with sufficient cash flow from operating activities are more protected by internal control and more resilient. Mechanistic analysis suggests that internal control further increases enterprise resilience by improving resource allocation efficiency, reducing operating risk, and increasing innovation output. Further analysis shows that government support can enhance the resilience of firms during crises through tax and fiscal policies;a better business environment enhances firms' ability to withstand risks in crisis situations and helps them gain a competitive advantage in crisis situations. Based on this, this paper provides empirical evidence for revising and improving the internal control system of enterprises to reduce the negative impact of public health emergencies in the context of epidemics. © 2022 by the authors.
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These are constantly changing times for the tourism industry. The COVID-19 pandemic and accompanying negative economic effects significantly impacted customer behavior and accelerated the need for companies to innovate. Business model innovation (BMI) is ideal for overcome these challenges by innovating the very core of the firm. However, siloed BMI thinking is insufficient: firms need a more holistic approach. We expand the current understanding of business model innovation by proposing a framework that integrates relevant dimensions (change impulses and business model configurations), context factors (service newness and degree of change or destination characteristics), and the outcomes of BMI initiatives into a comprehensive model for the tourism industry context. With our work, we want to guide future research and expand the currently unbalanced, heterogeneous picture of BMI in service industries. © 2022 Informa UK Limited, trading as Taylor & Francis Group.
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Small businesses in world heritage sites provide services to visitors and livelihood for residents. Besides the cultural and religious values promoted by these businesses, they also provide socioeconomic support to their owners. The Pashupatinath temple is known as Hindu's major religious and pilgrimage destination in South Asia. Hundreds of businesses around the temple provide services to visitors. This study evaluates the socioeconomic impacts of these small businesses around Pashupatinath temple. Using a survey of 110 businesses, binary logistic regression models find that the owners of larger businesses selling religious supplies in this area are more likely to own houses in Kathmandu and to be more satisfied with their businesses. The study also finds that businesses without permanent stalls faced severe hardship during the COVID-19 pandemic. This study assessed the socioeconomic status of a business owner through house ownership in Kathmandu, and finds that small businesses operating in the premises of the religious heritage site of Pashupatinath temple have a positive relation to the livelihood of the business owners and their families. It concludes that small-scale business in world heritage sites directly contributes to local livelihoods and economies. © 2022 by the authors.
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(1) Background: Pandemic-imposed lockdowns have heightened our awareness of the value of (work)place and made apparent the role it plays in establishing our sense of belonging and professional identity. The opportunity to work remotely during the pandemic has given us an appreciation of the benefits from access to increased flexibility, but there is consistent evidence emerging showing how much workers miss in-office social and learning interactions. This paper focuses on results about (i) reported perceived effectiveness and performance, (ii) sense of adjustment to remote working, and (iii) sense of belonging during the first two COVID-19-induced lockdowns, as reported by managers and workers in Australia in 2020. Findings shed light onto (i) how remote working experience affected our connection to, and the importance of, (work)place and (ii) how to harness insights towards creating spaces responsive to the activities we prefer to undertake in the workplace, permitting employees to choose the workstyle and pattern that suits their professional role and personal circumstances. (2) Methods: Correlational and thematic analyses were conducted on findings from 1579 online surveys focusing on remote working experiences during the first and second rounds of COVID-19-imposed lockdowns. A total of 668 managers and 911 workers from 12 different industry sectors participated in two rounds of the Bates Smart remote work survey (BSRWS). Surveys targeted knowledge workers of all career stages, age, and experience. (3) Results: Employees felt (i) technologically supported and productive whilst working from home, but (ii) aspects of connection, collaboration, and sense of belonging suffered;(iii) collaboration and togetherness are main motivators for returning to the office. Managers' experiences were significantly different with (i) perceived productivity, collaboration, knowledge sharing, sense of belonging, and performance dropping;(ii) face-to-face interaction and business development were key priorities for returning to the office with (iii) challenges of mentoring and managing emotional wellbeing of teams evident. (4) Conclusions: From these surveys we conclude space is an enabler of organisational culture and professional identity, playing a critical role in establishing psychologically safe and equitable workplaces. This paper reports snapshot data showing knowledge workers' experiences and effects of WFH under strict lockdown circumstances on wellbeing, productivity, and culture over time. It proposes two lenses (togetherness and place), through which the future workplace should be considered by industry and researchers alike. © 2022 by the authors.
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Small- and medium-sized enterprises (SMEs) can have significant resources, capacities, and influence in their communities, suggesting they have the potential to be agents for transformative sustainability. However, SMEs will need to move beyond firm-centered sustainable business practices towards strategic approaches that encompass and contribute to resilience-building processes. Amid the unfolding COVID-19 pandemic, we explored what types of sustainable business practices of SMEs can contribute to individual, organizational, and community resilience. We identified six clusters of practice that are important in this regard. The clusters are not solely technical or "environmental” but rather illustrative of deeper sustainable values shaped by organizational structure, culture, and behavior. This paper suggests that SMEs can pursue transformative approaches to sustainability that are more environmentally, socially, and economically sustainable and better able to withstand shocks like the COVID-19 pandemic and can be significant contributors to community resilience. We conclude with a series of future research priorities critical to examine a largely unexplored nexus in the private sector, the linkages and dynamics between sustainability practice, resilience building, and broader community pathways. © 2022 ERP Environment and John Wiley & Sons Ltd.
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This paper examines the role of Intellectual Capital (IC) and its contribution to Business Sustainability (BS) among Large Manufacturing Firms (LMF) in Malaysia. It seeks to explain the relationship between them under turbulent market conditions. The study used the survey method to collect data from 203 large companies, and the hypotheses were tested using Partial-Least Squares-Structural Equation Modeling. Based on the findings, two dimensions of IC, namely Human capital (HC) and Structural Capital (SC), had a significant effect on business sustainability, but Relational Capital (RC) did not. Also results indicate that Market Turbulence (MT) moderates the relationship between two IC dimensions, HC and RC but not that between SC and BS. The study findings can be used as guidelines by CEOs of LMFs, policy makers and researchers to comprehend positive the influence of MT and IC on BS. © 2022
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The article presents the discussion on world news briefs. Topics include Infinite Electronics Inc., a global supplier of electronic components serving the needs of customers through a family of highly recognized and trusted brands;and Pharrowtech, a growing market leader in mmWave solutions for next-generation wireless applications.
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The purpose of this study is to examine the model of developing SMEs in the socio-economically unpredictable crisis of the COVID-19 pandemic. Work from home and all activities are carried out online, the implementation of Social Restrictions has an impact on the economic crisis. Many SMEs survive or close their businesses, on the other hand, new entrepreneurs emerge. Economic literacy (EC), digital literacy (DLT), entrepreneurial attitude (EAT), productive economic behavior (PEB), and entrepreneurial business development (EBD) were analyzed as research models with a survey to obtain the latest field data, analyzed by exploratory factor analysis and AMOS confirmatory factor analysis 25. The theory of planned behavior from Ajzen was developed as a predictor behavior model for SMEs in developing businesses. Quantitative research with an entrepreneurial population in garment SMEs, a total of 203 entrepreneurs who have an online production and sales business as a sample. This study succeeded in testing 6 of the proposed hypotheses and one hypothesis was rejected. The model results have met the suitability criteria, that the development of SMEs based on high economic literacy skills will increase good entrepreneurial attitudes so that productive economic behavior is formed which will ultimately increase the ability of SMEs to survive, grow and develop during the COVID-19 pandemic crisis. For further researchers to develop research on a wider sample area as well as other potential factors to develop SMEs such as entrepreneurial skills. © 2022 Suparno et al.
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-This paper is devoted to the development of an approach to substantiate the feasibility of using innovative technologies for doing business in not innovative leaders countries in the post-pandemic period considering the associated risks. The main directions and technologies of successful business activity in the conditions of the COVID-19 pandemic are defined and systematized, their main characteristics are outlined. On the example of Ukraine, as a basis of relevant knowledge the possibilities of using this results for a reasonable assessment to implementing the innovative technologies for doing business within selected areas in the post-pandemic COVID-19. Approbation of practical using this base to substantiate the choice of specific innovative technologies for doing business is performed. The methodological approach to the analysis and risk assessment of using the innovative technologies for doing business in the post-pandemic period is improved. It is based on the mathematical apparatus of fuzzy logic which allows to multifactor analysis risks of the innovative projects, considering the diverse vague effects of individual factors. This approach provides an opportunity to make decisions to justify the selection and implementation of innovative projects in the context of inaccurate, incomplete or contradictory information considering the associated risks. The obtained results prove that it can be used to justify innovative technologies for doing business in COVID-19 and post-pandemic period in not innovative leaders countries, which economic environment is characterized by incomplete certainty and high risks. © 2022, World Scientific and Engineering Academy and Society. All rights reserved.
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Although ?vaccine nationalism? and vaccine diplomacy have thus far typified the COVID-19 vaccine rollouts around the globe, there remain limited scholarly insights on global vaccine distribution strategies. This research note (RN) examines the global vaccine distribution strategies and implications for public policy and governments. In conceptualizing the global vaccine distribution strategies into three competing perspectives (i.e., ?vaccine nationalism,? vaccine diplomacy, and global initiative), this article highlights the divergent effects of different approaches in terms of ushering elements of nationalism and ethnocentrism. By contextualizing the discourse on the COVID-19 pandemic into the three competing perspectives and highlighting the role of pharmaceutical companies and COVID-19 vaccine passport, the study also offers pathways for further examination of the subject incorporating the contextual conditions.
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During the economic slowdown caused by the financial crisis in 2008, grants for entrepreneurs were made available to support economic development. Whether such a policy instrument is effective for business development is a highly relevant question in the aftermath of the COVID-19. We evaluate the causal effects of small business development matching grants using a quasi-experimental approach. The grants were exclusively targeted to women entrepreneurs and provided during the recession after the financial crisis. Our findings demonstrate an increase in bank loans and a positive impact on turnover, value-added, capital, employment, and overall factor productivity for more experienced women entrepreneurs. As the grants are too small to have direct economic effects or indirect effects via the certification effect, they alleviate time and information constraints of women entrepreneurs. The cost-benefit analysis shows an increase in value-added that outweighs the scheme-related costs.Plain English SummaryThis study evaluates the effect of small public grants for women entrepreneurs. Grants were used for childcare and business consultancy costs to alleviate time and information constraints of women entrepreneurs. Benefiting from these grants resulted in higher bank loans. The women entrepreneurs on average invested more money in capital and had better performance measures like turnover and value-added. The effect was particularly evident among more experienced women entrepreneurs. The cost-benefit analysis shows grant-induced increase in value-added outweighs the scheme-related costs. The study implies small public grants for women entrepreneurs increase small firms’ growth, and these grants are in addition a cost-effective policy tool.
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The objective research was to study the transformation of the coffee consumption behavior of coffee drinkers and factors affecting the coffee consumption behavior before and during the COVID-19 pandemic. Because coffee is a famous beverage among university student groups. Therefore, we want to know the coffee consumption behavior and aspects of coffee drinkers such as the time most people need to consume coffee, the price, and the amount of coffee consumed each day. Both before and during the pandemic. To benefit those who are interested in studying coffee and as a guide for decision making in the business development of coffee shop operators. The sample used in this study is 407 students at the University of Thailand who consume coffee. The questionnaire was used to collect data for surveys of coffee consumption behavior. The study results revealed that consumer behavior has changed in coffee drinking patterns, health effects, and budgets for coffee purchases have decreased. Including the amount of coffee consumed on average per day by consumers, slightly increased from before the pandemic. © 2022 IEEE.
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The objective of the article is to analyze at a theoretical level public marketing in the tourism sector and its impact on business development. After the COVID-19 pandemic, everything indicates that tourism is positioned as a profitable business that has the capacity to boost the development of different dimensions of the economy, hence most advanced countries have developed a tourism marketing policy to promote their different natural, cultural, infrastructure and recreation options. Methodologically it is a documentary and analytical research. The results obtained allow us to conclude that a good marketing strategy is essential when it comes to attracting investments and tourists;however, this strategy is not standard, but will depend on the capacities, resources, hotel infrastructure and, of course, the interests and business development plans of each country. Moreover, the most appropriate way to assess the success or failure of public marketing, that is, that developed by the State and its institutional framework, is to analyze, through concrete empirical evidence, the results of this propaganda strategy with a model very similar to that used in the field of public policy evaluation in general.
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The article discusses the innovative business of the business in the regions including, taking into account the influence of the Pandemic Cowid-19. The purpose of the article was to study the degree of innovative business development, taking into account the impact of the pandemic. The tasks were solved: it was proved that innovative development is an important factor contributing to the growth of the country's competitiveness in the world arena;the conditions for the formation of the competencies of an “innovative person” were considered, as well as modern and relevant types of innovations, among which incremental, disruptive, sustainable and radical innovations are presented. The works of researcher on the innovative developments issues were studied. The position of Russia is shown in Global Innovation Index over the past few years. It is shown that the pandemic has accelerated the process of robotization in health care in the regions. The authors consider an example of smart devices that actively help doctors in this period and another one of a Russian startup “Connectome.ai” which is the invention to control biosafety at DIREKTIVA: CEO enterprises. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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ASTRAX has been conducting a project called ASTRAX ACADEMY (Private Space Business Development and Education and Training School) in Japan since 2017 to prepare for the private space age. Until now, we have been conducting lectures in classrooms in a classroom format and using facilities such as various spaceship simulators and commercial space mission support control centers. However, due to COVID-19, it has become difficult to conduct the courses. Therefore, we have been transforming all the courses into an online format and using various existing tools to conduct the classes efficiently. In the future, we plan to make the classes digital and multilingual so that students can learn not only in Japanese, but also in various languages such as English, Chinese, Spanish, Russian, and so on. In the age of space travel, there will be an increase in the number of multinational people conducting missions simultaneously. The common language may be English, but if we can support various languages in the education stage, it will lead to further expansion of our services and market. To do so, we are deliberately moving in the direction of multilingual space education. In this paper, we will introduce the method of digital transformation and multilingual education that ASTRAX is planning to implement. Copyright © 2021 by ASTRAX, Inc. All rights reserved.
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In the context of widespread digitalization of businesses and academia due to COVID-19, the new effective tool has become necessary to drive innovations. This paper observes the international scientific experiment VRE-IP that tested the hypothesis of the advantages of using virtual reality for teamwork, creativity, and innovation. VRE-IP experiment was based on design thinking methodology and supported SAP innovation process. The analysis of the trends of using virtual reality for educational and business development goals, and VRE-IP experiment revealed that employing virtual reality technology to organize workshops, distant meetings, plenary reports, and other tasks is exceptionally efficient, improves the engagement rate and creativity and contributes to the process of innovative ideas stimulation. The experiment also demonstrated the need for building a hybrid model for teamwork. The combination of traditional teamwork instruments and virtual technologies is proposed as the most sustainable and systematic model for online collaboration at the current stage of technological development. © 2022, Springer Nature Switzerland AG.
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Organizations need to develop their resilience to foster future success to survive complex environments. This research conducts a comparative analysis to understand firms’ strategies in a “black swan” event. We use the “strategy tripod” to operationalize resilience theory and explain the configurations or pathways that lead to high organizational resilience in a crisis context. The data correspond to 1936 firms drawn from the “Enterprise Survey 2020 for Innovation and Entrepreneurship in China (ESIEC)”, and to 66 Central American firms drawn from the “World Bank 2020 Enterprise Surveys” are also analyzed. The methodological approach fuzzy set qualitative comparative analysis (fsQCA) is applied. We discuss and analyze the strategies of companies in this “new normal”;our results establish that in the case of emerging economies, organizational innovation seems to be a necessary condition for becoming an organizational resilience to a black swan crisis (finding from both cases). We also found that labor flexibility and emotional intelligence for the case of firms from China, and adequate control of the turbulence environment for the cases of Central America, were also necessary conditions for each region. We further argue that digitalization depends on access to government support for its success. China reinforces its strategies in an intensification of human resources flexibility. In addition, they are better prepared for the “black swan” crisis, allowing them to adapt quickly and generate business model innovation to mitigate the effects of the pandemic in this “new normal”. In contrast, Central America needs rapid organization for organizational resilience. © 2022 by the authors. Licensee MDPI, Basel, Switzerland.