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Due to the recent trend of sustainability and socio-economic changes and to expand the research on resilient supply chains in Korea, this study targets Korean venture companies to ensure their success and growth. This study aims to analyze the reliance factors affecting the business performance of Korean manufacturing venture enterprises by considering two types of business performance: technology and financial performance. Regarding the factors influencing business performance, this study analyzes five resilience factors: product structure intensity, brand intensity, research and development intensity, cooperation, and corporate social responsibility. Business years were used as control variables and the causal relationship between the factors was analyzed using SPSS 22. The results show that all resilience factors positively influenced technology performance. The results for the financial performance show research and development intensity and corporate social responsibility. However, cooperation only shows different results between technology performance and financial performance. Based on these results, this study provides implications and contributions for manufacturing venture enterprises.
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Islamic micro-financial institutions (LKMS) provide services for micro businesses in the form of deposits, financing, and social assistance as the main activities. The COVID-19 pandemic engenders an adverse impact, breeding members' inabilities to measure up to their duties. The inabilities are regretted as LKMS should have also been able to assist its members in sustaining as a form of social responsibility. The research aims to prove paradoxes in business and social performance. We applied a descriptive quantitative approach to a secondary data analysis of business and social performance reports during the COVID-19 pandemic until 2021. The research population covered 154 members of the Islamic cooperative parent, and the samples were 51 LKMS in the Islamic cooperative center. Conclusions were drawn from data analysis using stakeholder and stewardship theories. The results demonstrated that the COVID-19 pandemic incurred negative impacts, i.e., a decreased business performance of LKMS of 8.4% on average for two years. Meanwhile, another finding exhibited an increase in social performance by 27%. Based on the data, we could argue that a decrease in LKMS business performance bred an increase in social performance.
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The impacts of COVID-19 are expected to shutter business performance globally. Though, very little early evidence on the impacts is recorded currently. Small business owners are expected to be hugely impacted compared to larger business counterparts. This is a result of limitations in financial capabilities, skills, and human resources. Small and Mid-size Enterprises (SMEs) play a crucial role in the resilience and sustainability of economic growth globally. An early-stage loss to business activity as a result of COVID-19 has significant implications for future economic inequality, income losses, and policy. This has triggered research into sustainability measures suitable for business maturity and to improve operational performance. Research is addressing issues ranging from developing a digital platform suitable for the collection of systems and automating its processes. This study complements publications that develop a technological and digital landscape by further expatiating on digital transformation issues and smart operational implementations in the context of SMEs. This study initiates by systematically identifying relevant contemporary publications on SME digitalization using the Scopus database. The documents are then reviewed by focusing on the crucial factors and current systems that influence the process of digital transformations for SMEs. The results facilitate sustainable business value and are crucial as a reference document that guides SMEs for future smart operational implementations. Copyright, American Society for Engineering Management, 2022.
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This paper presents the results of an empirical study, conducted during the months of February to March 2021, with the objective of analyzing innovative activity in product, process and organizational innovation and its impact on the performance of MSMEs. An online survey was conducted with the participation of 430 companies stratified according to sector (Industry, Construction, Commerce and Services) and size (micro, small and medium enterprises). The model used was multiple linear regression, whose response variable was company performance and the explanatory variables were product, process and organizational innovations. The results showed that process and organizational innovations were statistically significant, while product innovations were not significant. The coefficients were positive, implying that the higher the degree of process and organizational innovation, the higher the company's performance is expected to be. These innovations included changes in production processes, acquisition of new equipment, improvements in management, new procurement and purchasing processes, and changes in sales and commercial management. All these innovations were made during the pandemic period. © 2022 IEEE.
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PurposeDrawing on a strategic agility perspective, the authors develop a theoretical framework and empirically examine how digital platform adoption and capability impact business performance via digital-enabled strategic agility in the context of professional service firms.Design/methodology/approachThe authors propose and examine a conceptual framework based on survey data from 127 professional service firms in New Zealand.FindingsThis study reveals the impact of digital platform capability on the business performance of professional service firms that employ digital platform technologies. The results suggest that organizational innovation and managers' creative efficacy will be used as distal antecedents and contribute to digital platform capabilities. In addition, digital strategic agility can mediate the link between digital platform capabilities and business performance.Originality/valueThis study is one of the first to investigate when and how digital platforms empower professional service firms. This study reveals the role of digital strategic agility and digital platform capabilities in knowledge-intensive enterprises. This research advances the development of knowledge-based economy in the information age by applying and extending strategic agility to the uncertain and volatile business environment. The authors' new conceptualization provides a deeper understanding of how and why professional services business and organizations can adapt to the post-COVID era smoothly and successfully.
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This study aims to assess corporate zakat payment during the Covid-19 Pandemic Period. This is intriguing due to the fact that Covid-19 caused lockdown, recession, and financial crisis that could affect the company. Unlike business activities and performance which are significantly affected by locked down policies due to the Covid 19 Pandemic charitable activities including Corporate Zakat exhibit a more positive resilient response to continuously support those in need and affected by covid 19 during the pandemic period. This study employs a qualitative method based on the data provided. The outcome indicates that Covid-19 pandemic period had no impact on corporate zakat payment, as some businesses continued to pay zakat during the pandemic. This demonstrates that Covid-19 had no direct impact on zakat payments made by corporations. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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The role of Digital Human Resources Management (DHRM) in the era of globalization, especially in the COVID-19 pandemic, has made a major contribution to sustainable business performance. This is interesting to study considering that the DHRM work process will take place through mobile, electronic media, social media via the internet, and also with the help of IT (information technology). This research aims to analyze the role of Digital Human Resource Management (DHRM) in contributing to the improvement of sustainable business performance in companies in DKI Jakarta. The importance of the role of DHRM is investigated because DHRM is able to do human work through software and several applications, which are supported by the internet network. Digitalization in HRM will enable companies to operate more efficiently and relevantly in the future. This type of research is qualitative which involved managers working in oil companies and transportation companies in DKI Jakarta who used DHRM in the companies where they worked. This study analyzed the data using the triangulation method through documentation, interviews and direct observation in the field with case studies. The results of the study explain that several digital HRM practices have been carried out in several companies, but other practical activities have not been carried out optimally. This is because the support from the system and the digitization of business processes that are included in HR practices are not yet optimal. However, the company realizes that DHRM is able to improve business performance in a sustainable manner. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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PurposeThis paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approachThis briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.FindingsThe results suggest ways in which business performance can be enhanced by appropriate leadership competencies, enhanced organizational innovation and enhanced organizational learning.Originality/valueThe briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.
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The aim of this study is to depict the performance of Russian manufacturing subsidiaries of multinational corporations during the first year of the COVID-19 pandemic. Using a unique handcrafted database of financial reports from 259 subsidiaries for 2019 and 2020, we retraced three indicators of business robustness: the dynamics of revenues, positive profitability, and the level of financial solvency. Most of the studied subsidiaries (85%) were able to withstand the crisis and maintain satisfactory financial solvency. Revenues decreased in 2020 to 40% of the studied subsidiaries, and the share of loss-making subsidiaries reached 31%. However, more than 40% of the studied subsidiaries achieved both an increase in revenues and positive profitability of sales in 2020. In this respect we may assess the level of ‘ownership advantage' of multinational corporations regarding assisting their subsidiaries to achieve different elements of business robustness during the pandemic.
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Purpose: The objective of this study is to examine the effect of company resources on digital innovation, collaboration strategy, and business performance, as well as the effect of company resources on business performance through digital innovation and collaboration strategy. Research Design: This study uses a quantitative research approach. Observations were made in a cross-section time horizon, in 2022. The Population of this study is the ISP industry, which amounted to 474 companies, and the unit of observation was the management. Sampling used stratified random sampling. ISPs are grouped based on the size of each company based on the number of customers and branch cities are divided into 3 groups: small, medium, and large. Samples were taken many as 100 respondents. Sampling from each classification is done randomly based on a list of population members. Testing the causality hypothesis in this study used PLS (Partial Least Square). Results: the hypothesis testing reveals that company resources play a significant role in developing digital innovation and collaboration strategies. Company resources do not significantly directly affect business performance, but significantly affect business performance through digital innovation and collaboration strategy. Findings: The study provided managerial implications for ISP company management in Indonesia, that collaboration strategy and digital innovation can increase the influence of the development and utilization of company resources on business performance so that companies no longer have to develop and own all of their resources independently. By elaborating their collaboration strategy and digital innovation, companies can focus on developing key resources and additional digital innovations needed to increase the company's competitive advantage. Limitation: the measurement of variables was carried out based on the management's perception of the conditions and situations faced during the COVID-19 pandemic in 2021-2022. To get a deeper understanding and truly describe the details of the empirical conditions, it is necessary to complement qualitative research through confirmatory and in-depth interviews. © 2023, World Scientific and Engineering Academy and Society. All rights reserved.
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This study aims to examine the influence of intellectual capital on the financial performance of the telecommunications industry during the COVID-19 pandemic. The population includes the telecommunications companies listed on the Indonesia Stock Exchange in 2019-2020. Moreover, the intellectual capital performance was measured by the value-added intellectual capital coefficient (VAIC (TM)) approach while the model was developed and hypotheses tested using linear regression analysis. The results showed that intellectual capital has a positive and significant effect on return on assets and return on equity but has no influence on earning per share. Recommendations are later made for researchers and practitioners.
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Organizational resilience is about combination of operational and strategic resilience to sustain company's performance. In the time of turbulence like COVID-19 pandemic era, this resilience is extremely needed for any organizations not only to bounce back from its disruption but also ensures its sustained performance. However, knowledge related to this ability is still lacking and developing to cover especially factors needed to develop resilience for organization. Thus, this paper is proposing an organizational resilience model that covers what factors known so far. For this research, 100 organizations were invited for the research using questionnaires as its instrument. Among these invited organizations, only 47 organizations have given their responses at rate of 47%. Partial Least Square Structural Equation Modeling (PLS-SEM) method using SmartPLS 3.0 was utilized for data processing. This confirms that organization should promote its resilience through operational dan strategic resilience to sustain its performance especially in times of turbulence especially during COVID-19 pandemic era. © 2022 IEEE.
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PurposeDrawing on a strategic agility perspective, the authors develop a theoretical framework and empirically examine how digital platform adoption and capability impact business performance via digital-enabled strategic agility in the context of professional service firms.Design/methodology/approachThe authors propose and examine a conceptual framework based on survey data from 127 professional service firms in New Zealand.FindingsThis study reveals the impact of digital platform capability on the business performance of professional service firms that employ digital platform technologies. The results suggest that organizational innovation and managers' creative efficacy will be used as distal antecedents and contribute to digital platform capabilities. In addition, digital strategic agility can mediate the link between digital platform capabilities and business performance.Originality/valueThis study is one of the first to investigate when and how digital platforms empower professional service firms. This study reveals the role of digital strategic agility and digital platform capabilities in knowledge-intensive enterprises. This research advances the development of knowledge-based economy in the information age by applying and extending strategic agility to the uncertain and volatile business environment. The authors' new conceptualization provides a deeper understanding of how and why professional services business and organizations can adapt to the post-COVID era smoothly and successfully.
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After the COVID-19 pandemic influenced the global market, people around the world reduced their visits to physical stores, however opted to make purchases online instead. By providing a platform for their products to be heard during the crisis, the public was able to express their opinion through social media.The purpose of this study is to improve the understanding of "digital marketing" and to examine the effects and factors that influence the use of social media (digital marketing), publication-related journals on online marketing on brands and consumers in the study of digital marketing.The study collected data using the Web of Science (WoS) SSCI database from January 2016 to June 2022 on the topic "Digital Marketing", where 4,295 articles containing quantitative analysis of the relevant literature on Digital Marketing (DM) to find overall trends and predictions were adopted. Six different categories of DM articles were used to classify and investigate the different distribution states in order to find the relevant research developments and division states between 2016 and 2022. Research gaps and DMs are analyzed and synthesized, and a framework for future directions is proposed.This study presents the relevance of digital marketing journal capabilities to the advertising business, research trends and future information in organizing digital marketing (DM), marketing-related research and identifying the core of DM-related research, key aspects of measuring business performance. The proposed dimension of the Digital Marketing Capability Framework is to identify new research directions in the marketing and advertising chain. Systematic evaluation of the relevant literature is categorized at the company level. Key measures of the relevance of digital marketing capabilities to companies (B2C and B2B) and business performance are presented. © 2022 International Consortium for Electronic Business. All rights reserved.
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Review of Applied Socio-Economic Research – Volume 24 / issue 2 / 2022 provides a venue for high-quality research works of academics and researchers from worldwide, such as the United Kingdom, Czech Republic, Armenia, Indonesia, India, Japan, Jordan, Qatar, or the United Arab Emirates. In this issue, new challenging research questions arise in the Review of Applied Socio-Economic Research areas of coverage - Economics and Business Research, Marketing and Innovation Management Dynamics, New economy models, Social Innovation, Global Challenges, and Interdisciplinary Research in Social Sciences. © 2022, The authors.
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Purpose: This study discusses the phenomenon of the uncertain sustainability of SMEs in developing countries. SMEs face various challenges in the dynamics of a competitive environment, which threaten their growth and sustainability. This study aims to address a research gap between company's internal resources, in the form of absorptive capacity, and its business performance. By using product quality as a mediator, which has never been studied before, this research presents a novelty to answer the existing research gap using the Resource Based Theory (RBT) perspective. Research design, data and methodology: Using quantitative method, data are collected from 164 respondents, who are owners or managers of furniture manufacturing SMEs in Gerbangkertosusila Area, East Java, Indonesia. The data are analyzed using Partial Least Square (PLS) – Structural Equation Modeling (SEM). Results: The findings show that absorptive capacity has a direct and significant effect on business performance and indirectly through product quality. Conclusion: Furniture manufacturing SMEs are advised to focus on developing absorptive capacity reflected in good product quality, in order to improve their business performance. This is especially important to survive the crisis caused by the Covid-19 pandemic. Thus, the results of this study contribute to the development of RBT, and there are several suggestions for further research. © Copyright: The Author(s) This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://Creativecommons.org/licenses/by-nc/4.0/) which permits unrestricted noncommercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
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The purpose of this study is to explain how innovation capability influences business performance by mediating the effect of Covid-19 risk perception and entrepreneurial orientation. This study's population consists of MSMEs in Bali's tourism and creative industries. Purposive sampling was utilized to choose 90 managers of MSMEs in the tourist and creative economy sectors. Path Analysis with SEM-PLS was employed as the analytical approach. The findings revealed that the COVID-19 Risk Perception had a negative and significant impact on business performance, but the Entrepreneurship Orientation had a positive and significant impact. Furthermore, COVID-19 Risk Perception had a negative and significant impact on Innovation Capability;while the Entrepreneurship Orientation had a positive and significant effect on Innovation Capability;and Innovation Capability had a positive and significant impact on business performance. In addition, Innovation Capability was able to mediate the influence of COVID-19 Risk Perception and Entrepreneurship Orientation on business performance. Therefore, it is important for MSMEs in the tourism and creative economy sectors in Bali to improve their Entrepreneurship Orientation so that they are able to build higher innovation capabilities in order to improve business performance in facing the risks of the COVID-19 pandemic. © 2023 Growing Science Ltd. All rights reserved. © 2023 by the authors;licensee Growing Science, Canada.
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In the past two years, coronavirus pandemic has severely impacted global industries and altered market dynamics. The present study compares the challenges facing Indian textile and apparel industry before and after the coronavirus pandemic. The context of our study focuses on handloom industry, as the primary financial risk for handloom micro entrepreneurs lies in capital requirements for raw materials, equipment and their lack of formal management structures to tackle the pressure of uncertainty. Thus, studying and mitigating internal and external barriers of the traditional manufacturing micro entrepreneurs during and post pandemic remains crucial to frame policy decisions for sustainability of this vulnerable sector. We have employed a two-phase (before and after the onset of pandemic) successive exploratory mixed method, starting with the Delphi technique (qualitative phase) and concluding with multi-criteria decision-making. In Phase 2 analysis, seventeen key critical barriers identified in Phase 1reduced to twelve. Phase 1 modelling suggests that lack of effective government policies, demonetization, and tax policy implementation are the most significant barriers. Further, Phase 2 identifies the absence of effective government policies as the most significant obstacle to the performance of Indian handloom industry, especially after the pandemic. Additionally, lack of branding was found to be most critically linked between independent and dependent barriers.
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Purpose - The study aims to establish and conceptualise entrepreneurial orientation (EO) as a key construct that positively influences small and medium-sized enterprises (SMEs) performance. In this paper, a conceptual framework was developed, and three research propositions were outlined: EO (innovativeness, proactiveness and risk-taking) positively influences SME performance;the economic stimulus packages moderate EO and the differentiation strategy;and the differentiation strategy mediates EO and SME performance. Each of the constructs was defined, and the conditions during the COVID-19 pandemic in Malaysia were identified. Design/methodology/approach - The paper suggests links between EO and SME performance and the effects of economic stimulus packages and differentiation strategies on Malaysia's service and manufacturing industry. These concepts lead to the development of propositions based on prior empirical studies underpinning the resource-based view theory and contingency approach. The propositions aim to develop further findings and test the hypotheses. Findings - The study proposes three research propositions to conceptualise the relationship between the four main constructs. The study also recommends an empirical approach to conduct and test the research model concerning Malaysia's service and manufacturing industry. Originality/value - While studies on EO and SME performance have been conducted extensively, studies on the impact of various economic stimulus packages by the Malaysian government on the existing EO and SME performance relationship during the COVID-19 pandemic are limited. Separately, this study uses a configuration approach to test the mediator and moderator during the COVID-19 pandemic.
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As the COVID-19 pandemic persists, companies are rapidly shifting to non-face-to-face work by expanding telecommuting and introducing platforms tailored to the non-face-to-face work environments. Therefore, this study was intended to verify the effects of non-face-to-face collaboration system quality on work efficiency and business performance. To that end, a questionnaire survey was conducted with project team members who had work experience using a non-face-to-face collaboration system, and empirical analysis was conducted through statistical analysis of the collected data. The results of the study indicated that the quality of non-face-to-face collaboration systems had positive effects on work efficiency and business performance. In addition, it was shown that work efficiency positively affects business performance. Consequently, it was identified that non-face-to-face collaboration systems play an important role in improving work efficiency and ultimately improving business performance. The foregoing suggests that in the trend of emphasizing efficient utilization of non-face-to-face collaboration systems increasing worldwide, the construction of a non-face-to-face collaboration system that reflected work efficiency first can enhance the competitiveness of firms and improve management. © 2022 IEEE.