scholarly journals Adapting Business to Sustainable Development and New Technology

2021 ◽  
Author(s):  
Sandra Jednak
Keyword(s):  
Sustainable Development ◽  
Mergers And Acquisitions ◽  
Business Performance ◽  
New Technology ◽  
New Products ◽  
Business Environment ◽  
Organizational Goals ◽  
Doing Business ◽  
Business Changes ◽  
External Causes

Different internal and external causes make differences in doing business. Changes within an organization may be caused by mergers and acquisitions, crises, organizational culture, and application of new technology, but also by external changes such as sustainable development, digitalization, and COVID19. Changes in business environment affect the change in behaviour, competencies and values as well as in business activities, all in order to achieve organizational goals. Sustainable development brings sustainable practice into business. Each organization considers economic, social, and environmental dimensions of their business and implementation of ESG (environment, social, and governance) criteria. Digitalization affects business by adapting and combining different technologies that provide the creation of new products/services, processes, decisions, relations between companies, employees and customers, and business performance. There are also relations between the causes. Digitalization impacts sustainability and vice versa. Moreover, sustainable development and digitalization influence how an organization adapts and runs its business.

scholarly journals Sustainable development reporting and sustainable financing: Challenges for small and medium enterprises

2020 ◽  
Vol 9 (18) ◽  
pp. 49-61
Author(s):  
Milica Pavlović ◽  
Ksenija Denčić-Mihajlov
Keyword(s):  
Sustainable Development ◽  
Business Performance ◽  
Small And Medium Enterprises ◽  
Professional Associations ◽  
Business Environment ◽  
Integrated Reporting ◽  
Socially Responsible ◽  
Doing Business ◽  
Medium Enterprises ◽  
The Impact

In a dynamic business environment, the importance of doing business in accordance with the principles of sustainable development is recognized not only by large companies, but also by small and medium enterprises, which are the "driving force" of modern economies. Having in mind the commitment to socially responsible business and the requirements of the modern business environment, it is necessary to inform stakeholders about the impact of companies on society and the environment, as well as socially responsible activities that companies carry out due to changes in conditions and ways of doing business. Accordingly, it is necessary to implement integrated reporting, which would include, in addition to traditional financial, nonfinancial indicators of business performance. In order to adopt an internationally recognized methodology for evaluating the performance of sustainable development, certain initiatives have been taken by regulators, standard setters and professional associations. Due to their characteristics, small and medium-sized enterprises require special guidelines when compiling reports on sustainable development. The focus of this paper is on the challenges that these companies face in disclosing information on sustainable development indicators. Special attention is paid to the costs of this type of reporting, the lack of necessary resources and the ownership structure.

scholarly journals Modeling the Influence of Information Systems on Sustainable Business Performance and Competitiveness

2021 ◽  
Vol 13 (17) ◽  
pp. 9619
Author(s):  
Natasa Djalic ◽  
Milan Nikolic ◽  
Mihalj Bakator ◽  
Zivko Erceg
Keyword(s):  
Sustainable Development ◽  
Information Systems ◽  
Business Performance ◽  
Transition Economy ◽  
Industrial Revolution ◽  
Business Environment ◽  
Future Research ◽  
New Paradigm ◽  
Sustainable Business ◽  
Challenging Environment

The necessity for sustainable development, the coronavirus pandemic, and conducting business within the frameworks of the fourth industrial revolution—Industry 4.0 create a challenging environment where enterprises have difficulties to achieve and maintain competitiveness. Information is becoming a core construct when it comes to conducting business in the modern, globalized business environment. In this paper, the influence of information systems (IS) on sustainable business performance and competitiveness is analyzed. Additionally, the influence of human resource management (HRM) and decision making (DM) on sustainable business performance and competitiveness, as two crucial constructs in the new paradigm of conducting business, are addressed. The relations are discussed from the aspect of sustainable development and future post-pandemic business trends. The main goal is to determine the relations between the noted constructs in a transitional setting. In sum, 184 manufacturing enterprises from Republika Srpska were surveyed via a structured survey, where the focus was on quantifying and modeling the influence of IS, HRM, and DM on sustainable business performance. The results indicate that IS, HRM, DM can affect business performance in a transitional economic setting. This approach is novel, as the existing body of literature does not address all the noted influencing factors on sustainable business performance and competitiveness in a transition economy. Hence, this paper significantly contributes to the existing body of literature and provides a solid basis for future research in this domain.

A Model for Improving the Adoption of Sustainability in the Context of Globalization and Innovation

2012 ◽  
pp. 500-521 ◽  
Author(s):  
David L. Rainey
Keyword(s):  
Sustainable Development ◽  
Global Economy ◽  
Driving Forces ◽  
Business Environment ◽  
Leading Change ◽  
Negative Effects ◽  
Strategic Innovation ◽  
Doing Business ◽  
Regional Markets ◽  
Global Corporations

This chapter presents the foundations of a conceptual model for connecting the key elements necessary for corporations to adopt sustainability in the context of the global economy and strategic innovation. While there are numerous theories and practical methods for managing in a national or even regional markets, most of them lack the sophistication necessary for leading change in a global business environment. With the advent of globalization, the complexities of doing business on a global basis have increased dramatically over the last two decades. While sustainability involves many perspectives, strategies, actions, and management constructs, the chapter focuses on how global corporations employ strategic innovations in response to the driving forces in the global economy and how they can improve their level of management sophistication in a turbulent business environment. The model incorporates the concepts of sustainability and sustainable development in creating the solutions, systems and structures for doing business in the global economy. It focuses on strategic innovations that provide more positive aspects and fewer negative ones. Sustainability and sustainable development are based on proactive strategies and actions that exceed expectations and outperform peers and competitors alike. Strategic innovations are dramatic changes that have the potential to create dramatic new solutions that create exceptional value and eliminate or reduce negative effects and impacts. Strategic innovations include radical technological innovations, business model innovations, product developments, and organizational developments that are game changers.

scholarly journals QUALITY, SPEED, RELIABILITY, FLEXIBILITY AND COST OF PRODUCTS: THE CYPRUS CASE STUDY IN THE PAST AND TODAY

2017 ◽  
Vol 44 (4) ◽  
pp. 13
Author(s):  
Ioannis Angeli ◽  
Despina Odysseos
Keyword(s):  
Business Performance ◽  
Research Work ◽  
International Markets ◽  
Business Environment ◽  
The European Union ◽  
The Road ◽  
Performance Targets ◽  
Doing Business ◽  
Mechanical Products ◽  
The Eu

Cyprus joined the European Union (EU) ten years ago opening the gates to common market. Cyprus citizens and businesses are now living in a highly competitive business environment. There are many benefits of Cyprus joining the EU and removing any barriers from the free movements of goods like larger variety of products and services, more choices, opening into international markets and the increase of antagonism which lead to the reduction, in some cases of prices, and better products. So the main targets of the Cypriot companies were to adapt their way of doing business and to be able to face the challenges of the new antagonistic environment. However, the big question is up to what point they managed to meet the new internationally accepted targets? So the main purpose of this joined research work is to investigate the importance, within time, the behaviour of the Cyprus enterprises, in Mechanical products and goods in the island of Cyprus. Through a national survey, using an accepted sampling plan, the opinions of the customers/consumers as well importers and manufacturers were investigated. A questionnaire consisting of 22 questions, was used to investigate the importance of the five main targets or business performance parameters, quality, speed, reliability, flexibility and cost of products. The two groups of respondents (consumers and suppliers) were asked to evaluate the 5 business performance targets ten years ago (before joining EU) and today in the view of the new data of globalization and Cyprus becoming a member of the EU. In detail there was an attempt to find the degree of changes - improvements or the opposite, in achieving the 5 importance targets in the last decade. Many conclusions were revealed, such as, in which areas there was improvement and by how much, the agreements or disagreements between the two groups of respondents, which is the most important parameter now according to customers and many others. The methodology adopted is very useful to companies that they decide to follow the road of continuous improvement and identify customer views and expectations.

scholarly journals The Effect of Innovation Capability on Business Performance: A Focus on IT and Business Service Companies

2019 ◽  
Vol 11 (19) ◽  
pp. 5246 ◽  
Author(s):  
Seung Hoo Jin ◽  
Sang Ok Choi
Keyword(s):  
Business Performance ◽  
New Technologies ◽  
Positive Impact ◽  
New Technology ◽  
Random Effect ◽  
Business Environment ◽  
Service Industries ◽  
Business Service ◽  
Service Companies ◽  
Innovation Activities

With the introduction of a wide variety of new technologies during the fourth industrial revolution, companies in Korea have attempted to enhance their innovation activities, which include investment in new technology adoption, technical and non-technical innovation factors, and Research & Development (R&D) activity, to ensure the development and growth of their business performance and sustainability. In particular, IT and business services, two important industries in Korea, have been impacted by the development of new technology and have sought to adopt new technologies as soon as possible to survive in a rapidly changing business environment. The aim of our study is to empirically explore the effect of innovation activities on the performance of Korean IT and business service companies. To achieve this aim, we examine the innovation activities and business performance of 160 companies (80 large companies and 80 small- and medium-sized enterprises (SMEs)) in the IT and business service industries in Korea from 2009 to 2017. This study empirically analyzes panel data using fixed effect and random effect models with Hausman tests. According to our results, an improvement in product innovation has a positive impact on business performance (i.e., revenue and labor productivity) in both large companies and SMEs, as does R&D investment, research resources, and company age. However, an improvement in process innovation only has a positive impact on the business performance of large companies, and R&D cooperation only has a positive impact on the business performance of SMEs. As a result, both large companies and SMEs should concentrate on technological innovations to improve their sustainability and thus ensure their success in the long term.

A Holistic Model for Linking Sustainability, Sustainable Development, and Strategic Innovation in the Context of Globalization

2015 ◽  
pp. 222-247
Author(s):  
David L. Rainey
Keyword(s):  
Sustainable Development ◽  
Global Economy ◽  
Driving Forces ◽  
Global Scale ◽  
Business Environment ◽  
Negative Effects ◽  
Holistic Model ◽  
Strategic Innovation ◽  
Doing Business ◽  
Global Corporations

This chapter presents the foundations of a holistic model for connecting the key elements necessary for corporations to adopt sustainability and sustainable development in the context of the global economy and strategic innovation. The complexities of doing business on a global scale have increased dramatically over the last two decades. While sustainability involves many perspectives, strategies, actions, and management constructs, the chapter focuses on how global corporations employ strategic innovations in response to driving forces in the global economy and how they can improve their level of management sophistication in a turbulent business environment. The holistic model focuses on strategic innovations that provide more positve aspects and fewer negative ones since innovations have the potential to create dramatic new solutions with exceptional value and to eliminate or reduce negative effects and impacts. Strategic innovations include radical technological innovations, business model innovations, product developments, and organizational developments that are game changers.

A Model for Improving the Adoption of Sustainability in the Context of Globalization and Innovation

2012 ◽  
pp. 18-39
Author(s):  
David L. Rainey
Keyword(s):  
Sustainable Development ◽  
Global Economy ◽  
Driving Forces ◽  
Business Environment ◽  
Leading Change ◽  
Negative Effects ◽  
Strategic Innovation ◽  
Doing Business ◽  
Regional Markets ◽  
Global Corporations

This chapter presents the foundations of a conceptual model for connecting the key elements necessary for corporations to adopt sustainability in the context of the global economy and strategic innovation. While there are numerous theories and practical methods for managing in a national or even regional markets, most of them lack the sophistication necessary for leading change in a global business environment. With the advent of globalization, the complexities of doing business on a global basis have increased dramatically over the last two decades. While sustainability involves many perspectives, strategies, actions, and management constructs, the chapter focuses on how global corporations employ strategic innovations in response to the driving forces in the global economy and how they can improve their level of management sophistication in a turbulent business environment. The model incorporates the concepts of sustainability and sustainable development in creating the solutions, systems and structures for doing business in the global economy. It focuses on strategic innovations that provide more positive aspects and fewer negative ones. Sustainability and sustainable development are based on proactive strategies and actions that exceed expectations and outperform peers and competitors alike. Strategic innovations are dramatic changes that have the potential to create dramatic new solutions that create exceptional value and eliminate or reduce negative effects and impacts. Strategic innovations include radical technological innovations, business model innovations, product developments, and organizational developments that are game changers.

A Holistic Model for Linking Sustainability, Sustainable Development, and Strategic Innovation in the Context of Globalization

2020 ◽  
pp. 357-382
Author(s):  
David L. Rainey
Keyword(s):  
Sustainable Development ◽  
Global Economy ◽  
Driving Forces ◽  
Global Scale ◽  
Business Environment ◽  
Negative Effects ◽  
Holistic Model ◽  
Strategic Innovation ◽  
Doing Business ◽  
Global Corporations

This chapter presents the foundations of a holistic model for connecting the key elements necessary for corporations to adopt sustainability and sustainable development in the context of the global economy and strategic innovation. The complexities of doing business on a global scale have increased dramatically over the last two decades. While sustainability involves many perspectives, strategies, actions, and management constructs, the chapter focuses on how global corporations employ strategic innovations in response to driving forces in the global economy and how they can improve their level of management sophistication in a turbulent business environment. The holistic model focuses on strategic innovations that provide more positive aspects and fewer negative ones since innovations have the potential to create dramatic new solutions with exceptional value and to eliminate or reduce negative effects and impacts. Strategic innovations include radical technological innovations, business model innovations, product developments, and organizational developments that are game changers.

scholarly journals Use of the Smart Store for Persuasive Marketing and Immersive Customer Experiences: A Case Study of Korean Apparel Enterprise

2017 ◽  
Vol 2017 ◽  
pp. 1-17 ◽  
Author(s):  
Hyunwoo Hwangbo ◽  
Yang Sok Kim ◽  
Kyung Jin Cha
Keyword(s):  
Augmented Reality ◽  
New Technologies ◽  
New Technology ◽  
Business Environment ◽  
Interactive Systems ◽  
Online Retailing ◽  
Online Retail ◽  
Doing Business ◽  
Retail Business

Information technology’s introduction of online retail has deeply influenced methods of doing business. However, offline retail has not changed as radically in comparison to online retailing. Recently, studies in computer science have suggested new technology that can support offline retailers, including sensors, indoor positioning, augmented reality, vision, and interactive systems. Retailers have recently shown interest in these technologies and rapidly adopted them in order to improve operational efficiency and customer experience in their retail shops. Marketing studies also address immersive marketing that employs these technologies in order to change ways of doing offline retail business. Even though there is much discussion concerning new trends, technologies, and marketing concepts, there is, as of yet, no investigation that comprehensively explains how they can be combined together seamlessly in the real world retail environment. This paper employs the term “smart store” to indicate retail stores equipped with these new technologies and modern marketing concepts. This paper aims to summarize discussions related to smart stores and their possible applications in a real business environment. Furthermore, we present a case study of a business that applies the smart store concept to its fashion retail shops in Korea.

scholarly journals Quality Management System and competitiveness in the modern business environment: A review of literature and business practice

Tehnika ◽  
2021 ◽  
Vol 76 (5) ◽  
pp. 680-689
Author(s):  
Biljana Maljugić ◽  
Dejan Đorđević ◽  
Dragan Ćoćkalo
Keyword(s):  
Quality Management ◽  
Management System ◽  
Business Performance ◽  
Quality Management System ◽  
Business Environment ◽  
Global Market ◽  
Social Changes ◽  
Doing Business ◽  
Modern Business ◽  
Innovative Thinking

The aim of this paper is to consider the role of Quality Management System (QMS) in achieving the competitiveness of business organizations in the modern business environment. For the development of domestic economy, it is important to improve the way of doing business of domestic companies, following the example of the best world practices. The paper presents the experiences of international experts in the field of Quality Management Systems and the application of ISO Quality Management Standards, with the purpose of improving business performance and competitiveness of companies in the international market. The success of companies for doing business in the global market, due to everyday technological,economic and social changes, is basically based on a Quality Management System and ISO standards. The ISO 9001:2015 standard has brought improvements in the direction of Risk Management. Achieving competitiveness is achieved through adequate change management in the organization, Quality Management, innovative thinking and action, and standardized products of the highest quality.

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