Abstract: Selling has changed. Selling has taken on aspects of
relationship marketing and sales force play a critical role in
developing long-term relationships between buyers and sellers which
is seen to serve the company’s targets and create success for a long
run. The purpose of this study was to examine what really matters in
buyer-seller encounters and determine what expectations business
buyers have. We studied 17 business buyers by a qualitative
interview. We found that buyers appreciate encounters where the
salesperson face the buyer as a way he or she is as a person, map the
real needs to improve buyers’ business and build up cooperation for
long-term relationship. This study show that personality matters are a
key elements when satisfying business buyers’ expectations.
Abstract: Context-aware technologies provide system
applications with the awareness of environmental conditions,
customer behaviours, object movements, etc. Further, with such
capability system applications can be smart to intelligently adapt their
responses to the changing conditions. In regard to business
operations, this promises businesses that their business processes can
run more intelligently, adaptively and flexibly, and thereby either
improve customer experience, enhance reliability of service delivery,
or lower operational cost, to make the business more competitive and
sustainable. Aiming at realising such context-aware business process
management, this paper firstly explores its potential benefit, and then
identifies some gaps between the current business process
management support and the expected. In addition, some preliminary
solutions are also discussed in regard to context definition, rule-based
process execution, run-time process evolution, etc. A framework is
also presented to give a conceptual architecture of context-aware
business process management system to guide system
implementation.
Abstract: Purpose: The key aim of the research was to identify
the secondary stressors experienced by businesses affected by single
or repeated flooding and to determine to what extent businesses were
affected by these stressors, along with any resulting impact on health.
Additionally the research aimed to establish the likelihood of
businesses being re-exposed to the secondary stressors through
assessing awareness of flood risk, implementation of property
protection measures and level of community resilience. Design/methodology/approach: The chosen research method
involved the distribution of a questionnaire survey to businesses
affected by either single or repeated flood events. The questionnaire
included the Impact of Event Scale (a 15-item self-report measure
which assesses subjective distress caused by traumatic events). Findings: 55 completed questionnaires were returned by flood
impacted businesses. 89% of the businesses had sustained internal
flooding, while 11% had experienced external flooding. The results
established that the key secondary stressors experienced by
businesses, in order of priority, were: flood damage, fear of
reoccurring flooding, prevention of access to the premise/closure,
loss of income, repair works, length of closure and insurance issues.
There was a lack of preparedness for potential future floods and
consequent vulnerability to the emergence of secondary stressors
among flood affected businesses, as flood resistance or flood
resilience measures had only been implemented by 11% and 13%
respectively. In relation to the psychological repercussions, the
Impact of Event scores suggested that potential prevalence of posttraumatic
stress disorder (PTSD) was noted among 8 out of 55
respondents (l5%). Originality/value: The results improve understanding of the
enduring repercussions of flood events on businesses, indicating that
not only residents may be susceptible to the detrimental health
impacts of flood events and single flood events may be just as likely
as reoccurring flooding to contribute to ongoing stress. Lack of
financial resources is a possible explanation for the lack of
implementation of property protection measures among businesses,
despite 49% experiencing flooding on multiple occasions. Therefore
it is recommended that policymakers should consider potential
sources of financial support or grants towards flood defences for
flood impacted businesses. Any form of assistance should be made
available to businesses at the earliest opportunity as there was no
significant association between the time of the last flood event and
the likelihood of experiencing PTSD symptoms.
Abstract: Copreneurship is a term used to describe the business
pattern of operations run by married couples who share commitment,
goals, and responsibilities in handling a business. Research conducted
overseas showed that copreneurship business activities grew quickly
and played a role in elevating families’ and nations’ socio-economic
standards. In Malaysia, copreneurship has long been cultivated by
spouses. Thus, this study aimed to explore the factors that motivate
married partners to start a copreneurship business, and who is the
dominant partner in the management of this business. The study
participants are four entrepreneurial couples who are SME business
operators selected through purposive sampling. In-depth interviews
and direct observation were used as methods of measurement for
triangulation of qualitative data in this study. The findings of the
interviews were administered using NVivo 8.0 software. The result
shows that freedom is a key factor that drives entrepreneurs to set up
copreneurship businesses, and that the husband dominates the
management aspects of the business. The study gives an overview of
the parties involved in entrepreneurship to provide understanding of
the copreneurship concept as it is practiced. This study provides
academic value by creating understanding of the importance of a
harmonious family institution specifically for forming entrepreneurs
in the familial environment in Malaysia.
Abstract: This research aims to develop ways of lodging
business management of Bang Khonthi community in Samut
Songkram province that are appropriate with the cultural context of
the Bang Khonthi community.
Eight lodging business owners were interviewed. It was found that
lodging business that are family business must be done with passion,
correct understanding of self, culture, nature, Thai way of life,
thorough, professional development, environmentally concerned,
building partnerships with various networks both community level,
and public sector and business cohorts. Public relations should be
done through media both traditional and modern outlets, such as
websites and social networks to provide customers convenience,
security, happiness, knowledge, love and value when travel to Bang
Khonthi. This will also help them achieve sustainability in business,
in line with the 10 Home Stay Standard Thailand.
Suggestions for operators are as follows: Operators need to
improve their public relations work. They need to use technology in
public relations such as the internet. Management standards must be
improved. Souvenir and local products shops should be arranged in
the compound. Product pricing must be set accordingly. They need to
join hands to help each other. Quality of the business operation
should be raised to meet the standards. Educational measures to
reduce the impact caused by tourism on the community such as
efforts to reduce energy consumption.
Abstract: The objective of this study is to uncover the basic business-forces that necessitated the survival and sustainable performance of the medium scale contractors in the South African construction market. This study is essential as it set to contribute towards long-term strategic solutions for combating the incessant failure of start-ups construction organizations within South African. The study used a qualitative research methodology; as the most appropriate approach to elicit and understand, and uncover the phenomena that are basic business-forces for the active contractors in the market. The study also adopted a phenomenological study approach; and in-depth interviews were conducted with 20 medium scale contractors in Port Elizabeth, South Africa, between months of August to October 2015. This allowed for an in-depth understanding of the critical and basic business-forces that influenced their survival and performance beyond the first five years of business operation. Findings of the study showed that for potential contractors (startups), to survival in the competitive business environment such as construction industry, they must possess the basic business-forces. These forces are educational knowledge in construction and business management related disciplines, adequate industrial experiences, competencies and capabilities to delivery excellent services and products as well as embracing the spirit of entrepreneurship. Convincingly, it can be concluded that the strategic approach to minimize the endless failure of startups construction businesses; the potential construction contractors must endeavoring to access and acquire the basic educationally knowledge, training and qualification; need to acquire industrial experiences in collaboration with required competencies, capabilities and entrepreneurship acumen. Without these basic business-forces as been discovered in this study, the majority of the contractors gaining entrance in the market will find it difficult to develop and grow a competitive and sustainable construction organization in South Africa.
Abstract: This paper identifies a research gap in the literature on tourism entrepreneurship in Malawi, Africa, and investigates how entrepreneurs from the Malawian tourism sector discover and exploit business opportunities. In particular, the importance of prior experience and business networks in the opportunity development process is debated. Another area of empirical research examined here is the opportunity recognition-venture creation sequence. While Malawi presents fruitful business opportunities, exploiting these opportunities into fully realized business ideas is a real challenge due to the country’s difficult business environment and poor promotional and marketing efforts. The study concludes by calling for further research in Sub-Saharan Africa in order to develop our understanding of entrepreneurship in this (African) context.
Abstract: Business models are shaped by their design space or the environment they are designed to be implemented in. The rapidly changing economic, technological, political, regulatory and market external environment severely affects business logic. This is particularly true for social enterprises whose core mission is to transform their environments, and thus, their whole business logic revolves around the interchange between the enterprise and the environment. The context in which social business operates imposes different business design constraints while at the same time, open up new design opportunities. It is also affected to a great extent by the impact that successful enterprises generate; a continuous loop of interaction that needs to be managed through a dynamic capability in order to generate a lasting powerful impact. This conceptual research synthesizes and analyzes literature on social enterprise, social enterprise business models, business model innovation, business model design, and the open system view theory to propose a new business model design process for social enterprises that takes into account the critical role of environmental factors. This process would help the social enterprise develop a dynamic capability that ensures the alignment of its business model to its environmental context, thus, maximizing its probability of success.
Abstract: Organizations today need to invest in software in order to run their businesses, and to the organizations’ objectives, the software should be in line with the business process. This research presents an approach for linking process models and system models. Particularly, the new approach aims to synthesize sequence diagram based on role activity diagram (RAD) model. The approach includes four steps namely: Create business process model using RAD, identify computerized activities, identify entities in sequence diagram and identify messages in sequence diagram. The new approach has been validated using the process of student registration in University of Petra as a case study. Further research is required to validate the new approach using different domains.
Abstract: Within Vietnam's system of higher education, its
schools of business play a vital role in supporting the country’s
economic objectives. However, the crucial contribution of soft skills
for maximal success within the business sector has to date not been
adequately recognized by its business schools. This being so, the
development of the business school curriculum in Vietnam has not
been able to 'catch up', so to say, with the burgeoning need of
students for a comprehensive soft skills program designed to meet the
national and global business objectives of their potential employers.
The burden of the present paper is first to reveal the results of our
survey in Vietnam which make explicit the extent to which major
Vietnamese industrial employers’ value the potential role that soft
skill competencies can play in maximizing business success. Our
final task will be to determine which soft skills employers discern as
best serving to maximize the economic interests of Vietnam within
the global marketplace. Semi-structured telephone interviews have
been conducted with the 15 representative Head Employers of
Vietnam's reputedly largest and most successful of the diverse
business enterprises across Vietnam. The findings of the study
indicate that all respondents highly value the increasing importance
of soft skills in business success. Our critical analysis of respondent
data reveals that 19 essential soft skills are deemed by employers as
integral to business workplace efficacy and should thus be integrated
into the formal business curriculum. We are confident that our study
represents the first comprehensive and specific survey yet undertaken
within the business sector in Vietnam which accesses and analyses
the opinions of representative employers from major companies
across the country in regard to the growing importance of 19 specific
soft skills essential for maximizing overall business success. Our
research findings also reveal that the integration into business school
curriculums nationwide of the soft skills we have identified is of
paramount importance to advance the national and global economic
interests of Vietnam.
Abstract: Similar to economies in many countries; family-owned enterprises have a significant role in the development of Turkish economy. Although they have a large share in economic terms, their lifetime is limited to working life of their founders. Failure in achieving their sustainability deeply affects not only these businesses but also the economy. Therefore, two basic elements of family owned enterprises, family and organizational culture and especially entrepreneurship culture, should be examined closely. The degree of effectiveness of parents in instilling their children with entrepreneurship culture and their effects on children's profession choices are examined through face-to-face surveys with the managers owning family businesses randomly chosen among family-owned enterprises registered in Konya Chamber of Industry, which are active in specific sectors and which had different generations in their management.
Abstract: Small businesses are considered as engine of economic growth, contributing to employment generation, wealth creation, and poverty alleviation and food security in both developed and developing countries. Nigeria is facing many socio-economic problems and it is believed that by supporting small business development, as propellers of new ideas and more effective users of resources, often driven by individual creativity and innovation, Nigeria would be able to address some of its economic and social challenges, such as unemployment and economic diversification. Using secondary literature, this paper examines the role small businesses can play in the creation of jobs in North-West Nigeria to overcome issues of unemployment, which is the most devastating economic challenge facing the region. Most studies in this area have focused on Nigeria as a whole and only a few studies provide a regional focus, hence, this study will contribute to knowledge by filling this gap by concentrating on North-West Nigeria. It is hoped that with the present administration’s determination to improve the economy, small businesses would be used as vehicles for diversification of the economy away from crude oil to create jobs that would lead to a reduction in the country’s high unemployment level.
Abstract: Entrepreneurship is mostly related to the beginning of organization. In growing business organizations, entrepreneurship expands its conceptualization. It reveals itself through new business creation in the active organization, through renewal, change, innovation, creation and development of current organization, through breaking and changing of established rules inside or outside the organization and becomes more flexible, adaptive and competitive, also improving effectiveness of organization activity. Therefore, the topic of entrepreneurship, relates the creation of firms to personal / individual characteristics of the entrepreneurs and their social context. This paper is an empirical study, which aims to address these two gaps in the literature. For this endeavor, we use the latest available data from the Global Entrepreneurship Monitor (GEM) project. This data set is widely regarded as a unique source of information about entrepreneurial activity, as well as the aspirations and attitudes of individuals across a wide number of countries and territories worldwide. This paper tries to contribute to fill this gap, by exploring the key drivers of innovative entrepreneurship in the tourism sector. Our findings are consistent with the existing literature in terms of the individual characteristics of entrepreneurs, but quite surprisingly we find an inverted U-shape relation between human development and innovative entrepreneurship in tourism sector. It has been revealed that tourism entrepreneurs are less likely to have innovative products, compared with entrepreneurs in medium developed countries.
Abstract: The present study investigated approaches and techniques to enhance strategic management governance and decision making within the framework of a performance-based balanced scorecard. The review of best practices from strategic, program, process, and systems engineering management provided for a holistic approach toward effective outcome-based capability management. One technique, based on factorial experimental design methods, was used to develop an empirical model. This model predicted the degree of capability effectiveness and is dependent on controlled system input variables and their weightings. These variables represent business performance measures, captured within a strategic balanced scorecard. The weighting of these measures enhances the ability to quantify causal relationships within balanced scorecard strategy maps. The focus in this study was on the performance of tangible assets within the scorecard rather than the traditional approach of assessing performance of intangible assets such as knowledge and technology. Tangible assets are represented in this study as physical systems, which may be thought of as being aboard a ship or within a production facility. The measures assigned to these systems include project funding for upgrades against demand, system certifications achieved against those required, preventive maintenance to corrective maintenance ratios, and material support personnel capacity against that required for supporting respective systems. The resultant scorecard is viewed as complimentary to the traditional balanced scorecard for program and performance management. The benefits from these scorecards are realized through the quantified state of operational capabilities or outcomes. These capabilities are also weighted in terms of priority for each distinct system measure and aggregated and visualized in terms of overall state of capabilities achieved. This study proposes the use of interactive controls within the scorecard as a technique to enhance development of alternative solutions in decision making. These interactive controls include those for assigning capability priorities and for adjusting system performance measures, thus providing for what-if scenarios and options in strategic decision-making. In this holistic approach to capability management, several cross functional processes were highlighted as relevant amongst the different management disciplines. In terms of assessing an organization’s ability to adopt this approach, consideration was given to the P3M3 management maturity model.
Abstract: Tourism is very important to the economy of many countries due to the large contribution in the areas of employment and income generation. However, the rapid growth of tourism can also be considered as one of the major uses of water user, and therefore also have a significant and detrimental impact on the environment. Guest behavior in water usage can be used to manage water in hotels for sustainable water resources management. This research presents a study of hotel guest water usage behavior at two hotels, namely Hotel A (located in Kathu district) and Hotel B (located in Muang district) in Phuket Province, Thailand, as case studies. Primary and secondary data were collected from the hotel manager through interview and questionnaires. The water flow rate was measured in-situ from each water supply device in the standard room type at each hotel, including hand washing faucets, bathroom faucets, shower and toilet flush. For the interview, the majority of respondents (n = 204 for Hotel A and n = 244 for Hotel B) were aged between 21 years and 30 years (53% for Hotel A and 65% for Hotel B) and the majority were foreign (78% in Hotel A, and 92% in Hotel B) from American, France and Austria for purposes of tourism (63% in Hotel A, and 55% in Hotel B). The data showed that water consumption ranged from 188 litres to 507 liters, and 383 litres to 415 litres per overnight guest in Hotel A and Hotel B (n = 244), respectively. These figures exceed the water efficiency benchmark set for Tropical regions by the International Tourism Partnership (ITP). It is recommended that guest water saving initiatives should be implemented at hotels. Moreover, the results showed that guests have high satisfaction for the hotels, the front office service reveal the top rates of average score of 4.35 in Hotel A and 4.20 in Hotel B, respectively, while the luxury decoration and room cleanliness exhibited the second satisfaction scored by the guests in Hotel A and B, respectively. On the basis of this information, the findings can be very useful to improve customer service satisfaction and pay attention to this particular aspect for better hotel management.
Abstract: Rapid technological developments and increase in organizations’ interdependence on international scale are changing the traditional workplace paradigm. A key feature of knowledge based economy is that employers are looking for individuals that possess both specific academic skills and knowledge, and also capability to be proactive and respond to problems creatively and autonomously. The focus of this paper is workers with Economics and Business background and its goals are threefold: (1) to explore wide range of competences and identify which are the most important to employers; (2) to investigate the existence and magnitude of gap between required and possessed level of a certain competency; and (3) to inquire how this gap is connected with performance of a company. A study was conducted on a representative sample of Croatian enterprises during the spring of 2016. Results show that generic, rather than specific, competences are more important to employers and the gap between the relative importance of certain competence and its current representation in existing workforce is greater for generic competences than for specific. Finally, results do not support the hypothesis that this gap is correlated with firms’ performance.
Abstract: Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in decision process and –many times- the investment and business risks are high. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analyzed. Adopting the on system of system methodological approach, the decision making framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey and Bulgaria.
Abstract: The purpose of this article is an examination of the meaning of theoretic aspects of audit in the context of solving of specific problems of the audit. The audit’s aim is the estimation of financial statements by the auditor, i.e. if they are prepared according to the basic requirements of current financial statements. By examination of concrete examples, we can clearly see problems created in an audit and in often cases, those contradictions which can be caused by incompliance of matters regulated by legislation and by reality. An important part of this work is the analysis of reform in the direction of business accounting, statements and audit in Georgia and its comparison with EU countries. In the article, attention is concentrated on the analysis of specific problems of auditing practice and ways of their solving by taking into consideration theoretical aspects of the audit are proposed.
Abstract: Predictive data analysis and modeling involving machine learning techniques become challenging in presence of too many explanatory variables or features. Presence of too many features in machine learning is known to not only cause algorithms to slow down, but they can also lead to decrease in model prediction accuracy. This study involves housing dataset with 79 quantitative and qualitative features that describe various aspects people consider while buying a new house. Boruta algorithm that supports feature selection using a wrapper approach build around random forest is used in this study. This feature selection process leads to 49 confirmed features which are then used for developing predictive random forest models. The study also explores five different data partitioning ratios and their impact on model accuracy are captured using coefficient of determination (r-square) and root mean square error (rsme).
Abstract: Despite a robust and growing job market and lucrative salaries, there is a global shortage of Information Technology (IT) professionals. To make matters worse, women continue to be underrepresented in the IT workforce and among IT degree holders. In today’s knowledge based economy and society, it is extremely important to increase the presence of women in the IT field. In order to do so, it is necessary to reduce entry barriers and attract more women to pursue degrees in various IT fields including the field of Management Information Systems (MIS). Even though MIS is considered to have a more feminine nature, women still tend to avoid majoring in this field. Unfortunately, there is a lack of research that investigates the specific factors that may deter women from pursuing a degree in MIS. To address this research gap, this study examined a set of key environmental barriers that might prevent women from pursuing an MIS degree and explored whether there were any gender differences between female and male students in terms of these key barriers. Based on a survey of 280 students enrolled in an introductory level MIS course, the study empirically confirmed that there were significant differences between male and female students in terms of the key contextual barriers perceived. Female students demonstrated major concerns about gender discrimination related barriers, whereas male students were more concerned about negative social influences. Both male and female students were equally concerned about not being able to fit in well with other MIS majors. The findings have important implications for MIS programs, as the information gained can be used to design and implement specific intervention strategies to overcome the barriers and attract larger pools of women to the MIS discipline. The paper concludes with a discussion of the findings, implications, and future research directions.