ENTRENOVA - ENTerprise REsearch InNOVAtion

Risk Identification in Sports Organization

2023-02-12T16:35:56+01:00

As the COVID-19 pandemic enters its third year and the economy continues to recover, it is clear that today's dynamic, unpredictable risk environment will remain. Due to the influence of other unexpected and changing sources of risks from the external and internal environment, situations arise that affect the fulfillment of set goals and the effectiveness of decision-making processes. This uncertainty underlines the need for prevention and the importance of risk management in sports organizations so that organizations can better prepare for potential crises. While in some countries (e.g., the USA, Australia, and others), it is common for the management of a sports organization to be aware of its serious (key) risks, this is not the case in Slovakia. The contribution aims to present the basic concept of risk identification for sports organizations to support sustainability resulting from the current requirements of practice in Slovakia and respect for world trends. The proposed concept's essence is identifying risks in connection with the application and significance of selected methods and techniques of risk identification. The proposed concept should focus on strategic management and establish responsibility for identifying risks to minimize the risks' negative impact. The benefit of the contribution is the strengthening of support for the application of risk management in sports organizations not only in Slovakia but also in neighboring countries. With a proper understanding and effective management of risks within processes and functions, sports organizations can anticipate emerging risks and increase the probability of achieving the goals of profit and sports success.

Change Management Models: Commonalities and Key Challenges in the Industry

2022-11-08T16:59:48+01:00

It can be argued that managing change is crucial for any organisation to survive and succeed in the present highly competitive and continuously evolving business environment. However, theories and approaches to change management currently available to academics and practitioners are often contradictory, mostly lacking empirical evidence and supported by unchallenged hypotheses concerning the nature of contemporary organisational change management. This paper seeks to understand the key challenges faced when implementing change management projects in the industry, especially in aerospace, and the commonalities across existing change management methodologies. The paper describes results from interviews with industry experts and the literature review to provide a discerning sight of the challenges faced when implementing change management projects and the components shared by the available methodologies.

How Influencer Credibility and Advertising Disclosure affects Purchase Intention

2022-11-08T17:05:26+01:00

In recent years there has been a significant increase in digital advertising through influencers being active on many social media platforms. Budgets for influencer marketing rise yearly, and the return on investment from influencer marketing is higher than from other marketing channels. Therefore, influencer marketing is here to stay, and the pandemic has turned many customers online. Nowadays, customers most often collect information regarding products or services from influencers. The factors that may affect customers' purchase decisions are seen in influencers' credibility and advertising disclosure. A systematic literature review was done to provide an overview of the related influencer marketing field and the impact of advertising disclosure and source credibility on purchase intention. The terms ("Purchase intention") and ("influencer credibility" OR "source credibility" and “advertising disclosure”) were used to collect data. The papers were reviewed to determine how influencer credibility and advertising disclosure impact customer purchase behavior. Results indicate that influencer credibility traits positively influence purchase intention, and advertisement disclosure may impact customer purchase intention differently.

Mapping Future Trends in Integrated Reporting, CSR and Business Sustainability Research: A Cluster-based Approach

2022-11-08T17:15:16+01:00

This paper aims to investigate the dependence and independence between the variables inferred in the bibliometric analysis of the literature on corporate social responsibility (CSR), business sustainability (BS), and integrated reporting (IR). In this paper, we undertook a bibliometric analysis with statistical analysis to fulfill the proposed goal, based on scientific papers from 1975 to 2021 indexed by ISI Web of Science and SCOPUS databases on the abovementioned topics. The results are the development of a model for mapping future research directions on IR, CSR, and BS issues using the clustering method. The bibliometric and statistical analysis can help researchers by providing clear guidelines for future studies, depending on the behaviour of research clusters on the IR topic. Previous studies didn’t attempt to analyze future research directions of IR from a bibliometric and statistical standpoint, which should be carefully tracked, because IR can offer support to companies by improving their communication with stakeholders.

Differences between Instagram and Facebook Sponsored Posts for Small Hospitality Businesses

2022-11-08T17:21:15+01:00

In today's age of technological advancement and rapid change, much of the communication takes place on social networks, which offer a great opportunity for customer interaction. Social media is a popular and widely used marketing tool for communication between buyers and sellers. Advertising on social networks is relatively low, which is attractive to businesses, especially smaller ones. This paper aims to study the differences between sponsored content ads on the social networks Facebook and Instagram, using the example of a small hospitality business. The experiment consists of the same text and image posted on the social networks Instagram and Facebook and a post booster run through a mobile app adapted for smartphones. The results show that the promotion of the restaurant business positively affects increasing the number of followers on this page. There are also large differences in response between promoted and non-promoted posts, with promoted posts having a significantly higher response. Differences between Instagram and Facebook are listed, and recommendations for further research are given.

Factors of Profitability: Evidence from the Serbian Manufacturing Sector

2022-11-08T17:26:22+01:00

This paper aims to investigate factors of profitability in the manufacturing sector in the Republic of Serbia. The research is based on the sample of 220 observations of financial statements of listed companies on the Belgrade stock exchange from sector C – manufacturing during 2017-2020. Profitability was measured as a return on assets (ROA) and return on equity (ROE) being the two most common ratios. Primarily, the descriptive statistics of ROA and ROE were conducted. The results showed that manufacturing companies achieve a positive rate of profitability but at a low level (ROA is 0,0263 and ROE is 0,0595). Furthermore, two regression models were conducted to investigate which internal factors significantly affected ROA and ROE as dependent variables. The independent variables were set: fixed assets ratio, size, current ratio, leverage, and growth. Results of the first model showed that size, current ratio, and growth have a significant positive impact on ROA, while leverage significantly negatively impacts ROA. Results of the second model show that size and growth have a significant positive impact on ROE, while leverage negatively impacts it.

The Who in VR/AR for Education: A Scoping Review from IEEE Publications

2022-11-07T17:15:59+01:00

HEIs have continuously been the vanguard of novel technologies, pushing progress and establishing the afterward generation of scientists, businesspersons, and engineers. Virtual and augmented reality technologies are on the borderline of enlargement nowadays. To better understand who are essential actors in this new research area, we have extracted metadata of all published papers by IEEE, dating from 1990 to 2021, using keywords VR, AR, and Education. For each publication, we have extracted the list of all the authors, creating a co-authorship dataset. This dataset is then further processed using social network analysis metrics. The results are discussed to understand research publications' main actors driving VR/AR/Education trends.

Asymmetric Reactions of Retail Gasoline Prices on the Changes in Crude Oil Prices in Chosen US Cities

2022-11-07T17:32:29+01:00

Many empirical studies state that retail gasoline and diesel prices react more quickly when the crude oil price rises rather than decreases. In the paper, we confirm these asymmetric reactions of retail fuel prices in selected cities in the United States of America. We use the adjustment cost function in the linear-exponential form to derive nonlinear retail gasoline and diesel reaction functions. The correspondent model is estimated with the system's generalised method of moments. The model allows us to compute average one-gallon gasoline and diesel price biases from the increase in oil by one dollar per barrel caused by the given asymmetric reactions. The average biases differ from city to city; their values are between 0.02 cents in Los Angeles and 0.44 cents in Cleveland.

Optimal Selection of Parameters for Production of Multiwall Carbon Nanotubes (MWCNTs) by Electrolysis in Molten Salts using Machine Learning

2022-11-07T17:58:30+01:00

The production and use of carbon nanotubes (CNTs) have become extremely wide within the last decade. Hence, the high interest in producing non-expensive and quality CNTs has motivated many research projects. This research considers the design and development of new technology for producing MWCNTs by electrolysis in molten salts using non-stationary and stationary current regimes. The electrolysis is simple, ecological, economical, and flexible, and it offers possibilities for accurate control of various parameters, such as applied voltage, current density, or temperature. We infer the underlying relationship between the parameters and the quality of the experimentally produced MWCNTs by using explainable tree-based Machine Learning (ML) models. We train several models in a supervised manner, whereas in model covariates, we use the parameters of the MCWNTs, and as a target variable, the quality of the produced MWCNT. Domain experts label all the experimental examples in our data set. Controlling these parameters enables high-yield production and, particularly important, obtaining MWCNTs, which are up to ten times cheaper than other existing technologies.

Mathematical Analysis in Characterization of Carbon Nanotubes (CNTs) as possible Mosquito Repellents

2022-11-07T18:14:23+01:00

Mosquitoes are a great threat to human health to date and are a subject of interdisciplinary research involving scientists from many areas. Recently much attention has been put to novel approaches to mosquito repellent products that involve the use of novel materials, such as carbon nanomaterials, where it is essential to determine their properties. This research discusses the full molecular characterization of carbon nanotubes (CNTs) produced by electrolysis in molten salts. Each CNT has its mathematical representation due to its hexagonal lattice structure. Multi-wall carbon nanotubes (MWCNTs) are considered. The focus is on determining their structural parameters: innermost and outermost diameters, chiral indices m and n, number of walls, and unit cell parameters. Corresponding frequency parts of Raman spectra of four experimentally produced CNTs are elaborated, and Python programming and Mathematica are employed for the most accurate (m,n) assignment. Determining the chirality of these samples enables the calculation of other structural properties, which are performed now, including their graph representation. The latter enables the evaluation of different distance-based topological indices (Wiener, Balaban, Sum-Balaban, Harary index, etc.) to predict some index-related properties of the molecules.

Project Management Tools for the Fashion and Apparel Industry

2022-11-07T18:23:45+01:00

When managing any commercial, professional, scientific, or other project, it is necessary to plan all segments to integrate the various components and achieve the set plans. Nowadays, tasks such as drawing Gantt charts, network diagrams, and creating project reports are unthinkable without computer programs. The development of project management programs simplifies this work, allowing project team members to focus on project tasks, develop plans and strategies, and assess risk. In addition to project management computer programs that can be used for various projects, some programs have been developed specifically in the fashion and apparel industry. This paper focuses on the comparative analysis of programs developed specifically for project management in the fashion and textile industry and presents their specific features.

Project Management in Digital Disruption: Emergence of Digital Project Management Office

2022-11-08T17:32:01+01:00

This review paper has been prepared to provide an overview of multidisciplinary research that combines recent findings in the fields that support digital transformation development. The potential impact of digital technologies on organizational performance is the leverage that enables changes in common elements of organizational design; such are strategy, structure, processes, or workforce. According to reports by various authors, choosing an approach to digital transformation potentially includes an emphasis on strategy, processes, a structural approach, a project approach, and other performances. Such transformation is often performed through a portfolio of interrelated projects that change the organization. Most contemporary organizations establish a project management office (PMO) as an organizational entity responsible for implementing digital transformation initiatives. In this article, PMO is highlighted as an element of organizational design that promises success in meeting the demands of digital transformation initiatives, such as digital agility or innovation project management, by introducing new digital competencies into its professional domains. Such extensions of PMO domain expertise may lead to the transformation of “traditional” PMOs into digital PMOs. The paper analyses the cases of application of structural elements of digital PMO and their characteristics in three Croatian companies.

Sustainable Local Development Potential of the Elaphites, Croatia

2022-11-08T17:37:34+01:00

The Elaphites comprise the archipelago of 13 islands, among them eight larger and five smaller stretching northwest of Dubrovnik in the Adriatic sea. The islands are covered with characteristic Mediterranean evergreen vegetation and attract large numbers of tourists during the summer due to their beaches and pristine nature. Only the three main islands are permanently inhabited, supporting a modest tourist industry. The diffuse hotel model („Albergo Diffuso“) is defined as creating visitor accommodation by reusing and restructuring existing houses, which must be located within an inhabited town center and therefore has multifold economic, social and environmental benefits for local communities. The core of the scattered hotel concept envisages its interaction with small village communities. The paper analyzes the socio-economic and environmental characteristics of this innovative approach to enhancing tourism activities and restoring the valuable cultural, natural, and historical heritage of the Elaphites.

The Integration of Digital Technologies in the European Union based on the DESI Index

2022-11-08T17:43:37+01:00

Since the 2000s, the European Commission has been paying particular attention to the digital development of the European economy and society. Since 2014, the Digital Economy and Society Index (DESI) has been one of the key tools for monitoring and measuring. In 2021, the DESI index's core indicators were aligned with the objectives of the 2030 Digital Agenda, which has four dimensions: human capital, connectivity, integration of digital technology, and digital public services. We sought to determine whether convergence between the Member States could be detected using the third dimension of DESI's annual database. The σ-convergence analysis was used to estimate the reduction over time of the differences in digital technology integration between the Member States, while the β-convergence analysis was used to estimate the rate of catching up with the initial level of development. The σ- and β-convergence were not confirmed. We examined the individual indicators (11) of the integration of digital technology to identify critical areas that need to be addressed in the future to ensure that digital inclusion is as widespread as possible. Our analysis focused on the Member States that joined the EU during the Eastern European enlargements. The performance of all individual indicators is typically below the EU average, and, as the β-convergence analysis shows, the average catching-up rate is not encouraging.

Application of Digital Images and Corresponding Image Retrieval Paradigm

2022-11-08T17:48:23+01:00

We live in a world where digital images are constantly generated during our daily activities, whether private or business. They play an important role in our private life, showing important moments, people, places, or events and keeping their memory. Images are unavoidable in business, especially in digital marketing, web sales, social networks, medicine, security, and education. In general, images contribute to a better understanding of the message, increase the attractiveness of textual content, provide a better user experience, and can convey emotion quickly. The key advantage of the image is that very often, even a cursory glance at the image is enough to convey a message and arouse emotion and interest. But with the increase in digital image numbers, storage, organization, and retrieval problems arise. The paper describes the importance of images in different areas of application and different image retrieval paradigms that include text-based, content-based, and combined approaches. Also, the most popular image search tools and cloud storage services are compared and discussed. The conclusion comments on the applicability of existing approaches to image searches in different application domains and highlights the advantages and disadvantages of each of the approaches.

Disruptive Innovation & Chance for Latecomer Firms in E-Commerce: The Cases of the YES and PINDUODUO

2022-11-08T17:52:50+01:00

The e-commerce market is considered one of the potential but fully competitive markets. However, it is also clear that gap-filling or market-dominating is a never-ending process in the e-commerce market. For this reason, this is one of the amazing playgrounds attracting many participants. The question is How and by which latecomer firms can enter and succeed in the existing e-commerce market. Therefore, this paper analyses the chances for latecomer enterprises to enter the competitive e-commerce market. To pursue this goal, the paper will analyze the role of the disruptive innovation theory and its e-commerce applications. The results reveal that applying disruptive business-model innovation is a better way for fledgling e-commerce brands to enter the existing market and succeed in competing with incumbents. Furthermore, the case of THE YES – a women’s fashion e-commerce platform, and Pinduoduo – a Chinese largest agriculture-focused technology platform, are also analyzed as practical cases to join the research’s results.

The Role of 5G and IoT in Smart Cities

2022-11-08T17:58:22+01:00

Smart cities, one of the key application areas of 5G and IoT technologies, have at their core the goal of improving quality of life, creating collaborative solutions, and addressing resource constraints. Examples of some of the many services integrated into the network of a typical smart city are related to smart health, smart transportation, smart buildings, smart hotels, smart industry, smart universities, etc. The new era of wireless mobile telecommunication technology and the IoT ecosystem is driving the opportunities for smart cities to not only solve existing problems but also create new services and functionalities that are out of the box and invisible to the end user. The main objective of this paper is to explore the role of 5G and IoT in smart cities. The market environment, key business developments, and trends related to the key smart cities’ enablers, IoT and 5G, are presented. An in-depth literature review followed by a discussion is substantiated with synthesised research findings on the current development, 5G coverage, use and deployment of IoT in smart cities, and forecasting the evolution of its application in smart cities.

The Role of Social Responsibility in Company Strategy

2022-11-08T18:03:42+01:00

Social responsibility is an irreplaceable concept in the modern global economic network. As the concept of social responsibility "matured" in business and science, an increasing number of investors have recognized the benefits of conducting socially and environmentally conscious business and are encouraging the management and other stakeholder groups to implement socially responsible activities to achieve strategic goals. Strategic implementation of socially responsible activities opens up the space for creating a market position that competitors can hardly reach. They would have to successfully imitate the whole spectrum, not just a single socially responsible activity. This paper aims to discuss the relationship between the implementation of social responsibility and company strategy in light of previous research. Sustainable competitive advantage and a positive business result stem from a quality strategy adhered to by all organizational levels in the company. A good link between corporate strategy and the concept of social responsibility is a prerequisite for achieving long-term business sustainability in the global economic network. Based on the above, social responsibility is considered an important strategic element.

A Recipe for Success, Necessary Dimensions of Operations Management: A Case Study based on Walmart's Triumphs

2022-11-08T18:08:29+01:00

Purpose: This paper aims to analyse operations management's importance in three main dimensions: having a successful strategy, an efficient supply chain management system, and continuous innovation. The case of Walmart is used to consolidate these three areas. The main methodology of this paper is quantitative. The previous empirical literature on operations management and Walmart will be utilized to assess three important areas of operations management that are relevant for business today. Findings: The results indicate that strategy, supply chain management, and innovation play an important role in effective operations management. Particularly, the research on Walmart has shown that a low-price policy (EDLP) strategy, streamlined supply chain management by constructing communication and relationship networks with suppliers, and routine innovation have enabled Walmart’s success. Limitations: The research only focuses on three operations management areas. Moreover, this research paper only studies Walmart’s case. Thus, its findings may not be generalizable unless more case studies can be analyzed.

Industrial and Organizational Mutations in the Medical and Pharmaceutical Sectors impulsed by Open Innovation during the Pandemic

2022-11-08T18:15:21+01:00

The Covid-19 pandemic tragically emphasized severe failures of health systems. In particular, the saturation of hospital infrastructures and the lack of medical devices is crucial for respiratory ventilators. The medical and pharmaceutical sectors had to find urgently new ways to innovate efficiently in R&D, to produce devices, therapeutic trials, and vaccines, and make them available on a large scale. Our work will analyze that these innovations related to Covid-19 have been largely based on Open Innovation. For that purpose, exploratory case studies will be shown that exemplify the value of implementing Open Innovation in the pandemic context. These case studies concern the pharmaceutical firm Pfizer, the biotechnology company BioNTech, and the respiratory ventilator open development coalition OxyGEN (from design company Protofy. xyz to the hospitals' network of Barcelona and manufacturer SEAT). Methodologically, these case studies build on a full referencing and systematic analysis of articles, scientific documents, and published reports related to the Open Innovation involvement of these organizations since the start of the pandemic. Based on the operative contributions from these revelatory case studies, we can show that Open Innovation is a highly efficient vector for extended partnerships for accelerated R&D and operational production contextually to pandemic emergencies.

The Impact of Health Capital on Economic Growth in the Balkan Countries

2022-11-07T18:59:00+01:00

This study estimates the impact of health capital on economic growth in 10 Balkan countries over the 2000-2019 period. We used panel autoregressive distributed lag (ARDL) of a pooled mean group (PMG) to examine this relationship. Our results revealed that economic growth responds to short-term and long-term health capital changes. Estimation results indicate a positive relationship between health capital and the economic growth of Balkan countries. According to the results, increased health expenditure stimulates higher economic growth and development. The findings imply the need to formulate policies that assign higher priority to the healthcare sector, which would help sustain future economic growth in Balkan countries.

Stay Healthy: Slovenian users' Opinions about the Covid-19 Contact-Tracing Mobile Application

2022-11-07T20:04:34+01:00

This paper aims to provide a systemic vision of the role and specifics of a Covid-19 contact-tracing mobile application, which can be presented as a data-driven mobile application for citizens in urban data management processes and is essential for a sustainable urban ecosystem to inform the user about contact with a potentially infected person. The study aims to reveal the behaviour of adults when using such an application. We also attempt to discover how the Covid 19 pandemic has changed communication and why users use mobile phones and their features, such as Bluetooth and GPS. The research focused on Slovenia and was conducted during the Covid-19 pandemic in April 2021. Five hundred adults were surveyed. The mixed-method survey investigates the determinants of adult citizens’ behaviour in the Republic of Slovenia concerning the #Ostanizdrav application from three perspectives (installed app, activated app, and app used to report infection). In addition, the study examines the barriers and levers to using a contact tracing application to combat the pandemic in Slovenia. The second part of the study involves developing a Deep Learning-based predictive model trained on the data collected due to the survey.

Focus, Time Management and Personal Energy of Students during Online Education

2022-11-08T15:56:53+01:00

Focus and personal energy during study and work are vital in all learning outputs, especially in the covid-19 time that addresses the importance of self-focused behaviour in online learning environments. In this paper, we present a method of gaining insight into previous knowledge of students’ approaches to focusing and managing personal energy during covid-19 online studying environment to overcome stress. ”Manage your energy, not your time” cites a Harvard Business Review study (Schwartz & McCarthy, 2016), explaining that time management is a waste of time; therefore, we should manage our energy instead. Leaders should focus on managing personal energy and surviving in the workplace to manage stress and achieve a balanced career and private life in the long run. Management course students at the School of Economics and Business, University of Ljubljana, can be perceived as future leaders; we collected their opinions. We used content analysis to estimate how stress affects them and how they manage the consequences of stress, particularly procrastination. The problem with procrastination is that our brains are programmed to procrastinate, especially when it comes to new, unknown tasks. Therefore, our mind responds to postponing the task as fear arises with an unknown task. Results are presented, and key identified themes offer implications for managing physical, emotional, and mental energy. Students perform different cardiovascular sports activities to reduce stress and successfully overcome studying goals in the covid-19 environment.

Legal, Library, and Accounting Barriers of e-Books for e-Learning during COVID-19 at Polytechnic in Pozega

2022-11-08T16:05:49+01:00

The sudden and rapid appearance of COVID-19 surprised many, so the whole world switched to the digital environment at one point. Business meetings, classes, and social events took place via the Internet. In such an environment, e-books have played a major role in responding to distance learning. But the e-book is still a novelty in both the library and accounting businesses. In this paper, we will give an overview of legal, technical, library, and accounting issues that e-book brings and try to answer how to solve them and how to ensure the availability of e-books in the long term. We will also show how this affected students in the learning process.

Does Information Technology Influence Processes at Universities? – Teacher's Perspective

2022-11-08T16:12:08+01:00

The rapid development of information technology (IT) both forces and supports the transformation of universities in almost all their operations (strategic planning, budgeting, education, research, quality control, cooperation with business and society, etc.). The paper presents the research results related to the digitalization of different processes at universities – more specifically, teachers’ opinions on the effect of digitalization on different processes. The survey was conducted among the University of Mostar, Bosnia, and Herzegovina (BH) teachers. The authors identified processes at the university and investigated the perceived impact of information technology on them. The findings show that the impact of digitalization is positive on most processes, whereby a strong influence is determined for research projects financed by the Ministry of Education, quality management, teaching, and evaluation of acquired knowledge (examination).

Affirmation of Cultural Heritage Digital Promotion within Smart Destination Concept

2022-11-08T16:19:28+01:00

The paper explores the perspectives of implementing digital, online promotion within the concept of smart destination development, aiming for the competitiveness that innovative tools and systems enable. Built heritage in developed tourism destinations presents an attractive resource, and its presentation through digital technology impacts culture's perception. With the development of new technologies and the adoption new digital and tourism trends, e-tourism cultural heritage promotion represents a significant challenge for destinations. Research design includes the identification of cultural heritage in tourism destinations followed by the longitudinal study, the research of progress in technology implementation, and an analysis of key tools for digital promotion. Several aspects are explored: online promotion, digitalization of heritage, and WiFi coverage for social networks' real-time streaming. Qualitative and quantitative methods aim to contribute new knowledge about the important use of online digital tools. The paper points to how the advantages and potentials of developing a smart culture in a destination, recognised as a strategic policy of development, are implemented in the digital marketing of heritage sites.

A Living Lab Approach towards Promoting Innovation

2022-11-08T16:26:15+01:00

The transformation projects developed in the context of digital education, sustainable development research and social innovation, and social entrepreneurship have turned the West University of Timişoara (WUT) into an active contributor to the Smart Specialization Strategy at local, regional, and national levels, from its previous status of a passive receiver of policy and R&D strategies. By exploiting open innovation tools integrated into entrepreneurship and aimed at relevant community research, WUT is currently actively involved in the incubation and/or acceleration of more than 200 start-ups, meant to enhance research relevance to actively promote higher technology readiness levels (TRLs) and social acceptance of research results. Building on top of three priority pillars - Digital, Green, and Well-Being, WUT has reconsidered its open innovation strategy and action plan to benefit the community, using a multistakeholder approach. In this context, the Digital & Green Living Lab, with cross-cutting priorities such as entrepreneurship and Culture and Creative Industries, focuses on meaningful transformation projects that contribute to enhanced community well-being. In this direction, important contributions were already achieved toward the digital transformation of educational programs and administrative sectors. Through its sustainable development vision, WUT acts on functional teams working in circular economy consortia, renewable energies, and environmental research.

Creating Value for Clients using a Holistic Approach in Banking Marketing

2022-11-07T18:48:09+01:00

This paper investigates how marketing mix strategies' design affects customer value creation. The paper presents the results of empirical research conducted through a questionnaire that aims to show and determine which elements are key in choosing a bank, the extent to which branches and digital services are used, which affects customer satisfaction, loyalty, and customer experience for quality assessment and what are the reasons why clients would leave the current bank and choose a competing bank. The research results indicate that the availability of products and services is important to clients with support that increases the user experience, the application of innovative technologies in creating new offers, and friendly, educated, and friendly staff and channels. Respondents state the reasons for changing the bank: lack of branches, unfriendly or unprofessional staff, unsatisfactory quality of service, excessive fees, and more.

A Case Study of Investor R&D Evaluation using Game Theory

2022-11-07T18:52:28+01:00

This paper aims to identify an optimal investment strategy in cases of high-intensity R&D private micro entities. A game theory matrix is constructed using publicly available empirical data extracted from the financial statements of an R&D-intensive private micro-entity. The game theory matrix attempts to estimate the effect of the discretionary managerial choice to capitalise or expense the development cost of internally generated intangible assets; investors' risk appetite could be affected by the capitalisation signalling. The investment strategies are classified based on their risk into three categories. High risk is represented by equity. Medium risk is represented by long-term debt, and low risk is represented by short-term debt. The game theory matrix results indicate that in similar situations, the dominant strategy is the medium-risk approach through long-term debt. This strategy must be confirmed by solving more game theory matrices based on similar R&D-intensive firms. However, it is an easily constructed advisory indicator for retail investors considering investing in unaudited small private entities. They could use it to identify an optimal investment strategy when uncertain of the genuine intangible asset prospects signaled via development cost capitalization.

Artificial Intelligence in Communication with Music Fans: An Example from South Korea

2022-11-07T18:31:11+01:00

According to Kotler, Kartajaya, and Setiawan, there are five components of marketing 5.0: it is data-driven, predictive, contextual, augmented, and agile. This paper uses the case study method to investigate the presence of the 5.0 marketing components in promotional strategies employed by the South Korean popular music industry. The paper explores promotional strategies used by the BTS music group in particular. The group uses the 5.0 marketing method in its promotional strategies, especially in communication with the fans, and such communication thus enters the field of public relations. The case study analysis also indicates the use of data-driven marketing and predictive analytics, which are achieved using artificial intelligence. Additionally, elements of contextual marketing were used to improve the consumer experience, and augmented marketing was utilized to facilitate business, especially for front office staff. Finally, the analysis of BTS's promotional strategies shows a focus on innovation and flexibility, which are elements of agile marketing.

Leadership in an Ageing Society and the Brain: Applying Neuroscience to Leadership

2022-11-07T18:40:46+01:00

“What makes a great leader?” This question has been on the minds of scientists, philosophers, professionals, and others around the globe for centuries. Many theories and models have been proposed to answer the question, but none has fully captured leadership as a dynamic and constantly evolving attitude. In the last 20 years, technological advancements have helped neuroscientists understand the human brain better. With the help of ground-breaking insights in neuroscience, the leadership enigma has a convincing answer rooted in a specific and very tangible source: the brain. This paper aims to increase awareness around the impact of the brain on leadership behaviour in an aging society by presenting secondary research of available scientific theory. In particular, this paper aims to provide an overview and assess the brain-based leadership models and recent approaches to highlight the possible ways to boost the leadership brain and enhance performance. The paper also points out the ethical issues arising from brain enhancement in leadership and leaders' awareness of the possible broad social consequences that neuro leadership might bring.

Reinventing the Business Model in the Tourism Industry based on Sustainable Circular Economy and Innovation

2022-11-08T18:20:06+01:00

Today, the whole globe is facing a series of crises unprecedented in modern histories, such as health, social, economic, environmental, etc. All these crises result from an unsustainable development model based on the misuse of the planet's natural resources, threats such as climate change, and conflicts with economic, social, and environmental impacts. The crisis caused by the pandemic has accentuated new patterns of behaviour and consumption, accelerated the technological revolution, and grown concerned for sustainability. Tourism is an industry that is particularly vulnerable to the effects of climate change, the consequences of which vary widely. Therefore, sustainable solutions are in the interest of the tourism sector, and the circular economy is a life-saving solution for the tourism industry. The transition from a linear to a circular economy is presented throughout the European Union as one of the major drivers of change and Innovation. This article aims to move towards a new business model in the tourism industry based on the circular economy and Innovation by setting out the principles for applying the circular economy in tourism. New business models can help us transform the tourism industry in this disruptive process.

The Private Dining Restaurant: The Ideal Restaurant of the Future due to Covid-19?

2022-11-08T16:31:55+01:00

This paper presents a model of a dislocated restaurant created based on dislocated hotels in Italy. This paper aims to provide an innovative solution for new initiatives in the food and beverage industry experiencing great losses due to the Covid 19 epidemic. The study uses an existing hotel model and adopts it in restaurants, and it uses analyses and synthesis for developing and defining new concepts. The private dining restaurant model represents a hybrid modification between dislocated hotels and classic à la carte restaurants and is more customized to the new normal. Depending on space constraints, a private dining restaurant can be built as a brand new restaurant or use the many empty spaces in the centre of many cities for this purpose, thus encouraging urban regeneration. Although, given its characteristics, this restaurant model is easier to apply from the beginning as such (as dislocated) rather than applying to existing buildings.

Impact of Additive Manufacturing on the Strategic Alignment of Business Processes in the Logistics Industry in Europe

2022-11-08T16:37:13+01:00

The logistics industry in Europe is under constant scrutiny due to the impact of digitalizing business processes and the globalization of competing markets, especially China and the USA. Therefore, the constant optimization of corporate legacy processes and, subsequently, the reduction of logistics costs play a crucial role. The constant development of innovative solutions keeps the technological edge to stay ahead of the global competition. 3D printing technology, or additive manufacturing, represents a possibility for creating innovative complex geometries, which cannot be realized with conventional subtractive manufacturing processes. Furthermore, additive manufacturing contributes to process optimization and lower logistics costs. With the appropriate strategy, the application of additive manufacturing increases customer satisfaction with new opportunities for expansion into leading business areas with higher margins. The research of the paper examines expert statements in two balanced scorecard strategies, which include (1) corresponding key performance indicators for measurement of target achievement, (2) measurement of the realization of the defined targets, and (3) possible customer applications for 3D printing technologies. These suggestions serve as a point of reference for various organizations in the logistics industry. In addition, additive manufacturing coincides with the advances in Industry 4.0 to achieve optimal results. As the industry continues to develop further, the European logistics industry has all prerequisites to prevail in a competitive global market.

The Impact of Covid-19 on the Alibaba Platform

2022-11-08T16:44:07+01:00

Purpose – this paper aims to analyse the business efficiency of the Alibaba platform at the beginning and during the COVID-19 crisis. Methodology/Design - The research is based on the official financial reports of the platform as well as on the reports of other specialized agencies that monitor the platform industry. The study focuses on an analysis of the financial indicators of the business. It compares the financial indicators with an analysis of the data on the trend of the user community on the platform. The results - the study's findings did not find a major impact of the COVID-19 pandemic on the overall business results of the Alibaba platform. The survey results confirmed changes in operating profit and net profit trends as a result of changes in the structure of operating revenues. Conclusion - Total revenues are growing at a slower pace as a result of the changes in business policy and changes in revenue structures than as a result of the impact of the COVID-19 pandemic.

Women Entrepreneurship Development in Kosovo: Challenges and Opportunities

2022-11-08T16:48:57+01:00

Business leadership by women is a special challenge in Kosovo, as, until the 90s, it was almost taboo. In this context, from 2000 onwards in Kosovo, there have been many businesses run by businesswomen, which is a great contribution to the emancipation of modern society. Women's businesses in Kosovo face many challenges and barriers; thus, this research study aims to address this issue. The purpose of this study is to investigate and find out the challenges and obstacles faced by women entrepreneurs in their business activities. The empirical investigation will be conducted using a questionnaire-based survey of 213 women entrepreneurs in the Republic of Kosovo in 2021. The data were collected through a questionnaire with closed questions. A total of 213 female entrepreneurs from all regions of Kosovo participated in the research. Based on the results achieved through Factorial analysis, one of the main challenging factors of women-led businesses are the instability of doing business that is directly related to high taxes and high loans, bureaucracy, lack of support, lack of modern technology, and access to the market, with statistical significance at 5% level of significance. Business leadership by women needs to be supported by the Government by enabling lower interest rates and granted loans, investments in terms of staff and products, as well as technology modernization.

Application of Statistical Analysis for Risk Estimate of Railway Accidents and Traffic Incidents at Level Crossings

2022-11-08T16:55:09+01:00

Abstract This paper deals with applying statistical analysis of traffic safety to analyze the risks at level crossings. The social costs of railway accidents and traffic incidents at level crossings are very high and lead to a reduction in the levels of traffic safety. In addition to the consequences reflected in the loss of human lives, injuries, and disabilities, the stress and trauma of direct participants in traffic, accidents, and incidents at level crossings cause huge property and economic losses and significant primary and secondary traffic delays. The traffic safety analysis was conducted on 2128 level crossings, which are differently protected on the lines Joint Stock Company for Public Railway Infrastructure Management ”Serbian Railway Infrastructure” with statistical data of accidents in the Republic of Serbia from 2007 to 2017. The paper analyzes the obtained results using the methods of descriptive and inferential statistics to define measures of possible improvement of safety levels at the obtained critical level crossings. Also, a proposal was made for improving and raising the level of safety on level crossings through innovative education of direct participants in traffic.