The Impact of Globalization on Entrepreneurship

This paper aims to explore the importance of globalization for the development of entrepreneurship. Changes in global business environment require new business strategies. Small business owners are expected to be able to develop the resiliency of their businesses so that they can face severe external conditions. Their sustainability depends on the resilience but also on the perspectives of long-term business operations. Therefore, small and medium-sized enterprises must demonstrate their ability to anticipate changes in the market, react to them, and initiate them. This implies improvement of basic processes, learning new skills and closer cooperation with external and internal partners. Small enterprises need to redefine their goals and use their resources more effectively as a necessary condition for expanding maneuvering space for growth and for achieving sustainable development. Finally, it is concluded that organizations must establish the right balance between the challenges and benefits of globalization, and the four basic areas for achieving the right balance are adequate cost, human resources and risk management, as well as the formulation of a strategy that follows the requirements of the global market game.

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Strategic Measures and Tactical Interventions for COVID-19 Impact Relief on SMEs

Handbook of Research on Strategies and Interventions to Mitigate COVID-19 Impact on SMEs - Advances in Business Strategy and Competitive Advantage ◽

10.4018/978-1-7998-7436-2.ch026 ◽

2021 ◽

pp. 522-541

Author(s):

Meng Kui Hu ◽

Daisy Mui Hung Kee

Keyword(s):

Success Factors ◽

Business Environment ◽

Business Strategies ◽

Business Growth ◽

Sustainable Business ◽

New Normal ◽

Business Operations ◽

Strategic Measures ◽

New Business ◽

The Right

The COVID-19 pandemic has caused numerous impacts on the global socio-economic environment, affecting the business communities, particularly SMEs that continue to struggle for survival. SMEs are entangled in the pandemic and find it tough to operate as smoothly as before. Without seeing the right tactical interventions to rough out from this pandemic, many SMEs will have to cease their business operations. Even when they are successful in being out of the woods, SMEs must revisit and realign their outdated business strategies to remain relevant and operate effectively in the new normal. The ability to remodel their business and reset new business strategies will be the success factors for SMEs to keep up with the changing business environment and customer patterns. They also need to remain disciplined and persevere in acquiring sustainable business growth in the new normal.

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The Impact of Supply Chain Partnership on Firm Performance: an Empirical Study Based on Listed Manufacturing Companies in China

BCP Business & Management ◽

10.54691/bcpbm.v14i.124 ◽

2021 ◽

Vol 14 ◽

pp. 22-38

Author(s):

Panxin Zhou

Keyword(s):

Supply Chain ◽

Firm Performance ◽

Transaction Costs ◽

Resource Sharing ◽

Information Exchange ◽

Business Environment ◽

Manufacturing Companies ◽

Additional Test ◽

Global Business ◽

The Impact

Today, Supply Chain Management (SCM) is regarded as an essential strategic factor, which has a great deal of influence on earning competitiveness in global business environment. There are conflicts among all members of the SCM. In order to maximize the total profit of the SCM, negotiation among all members is necessary. For enterprise in the supply chain, the supply chain partnership has become a significant factor affecting firm performance. In this paper, I examine the impact of cooperation between enterprise and its supply chain partners. Specifically, I collect survey data from Chinese manufacturing firms about their relations with partners and use regression analysis to test hypotheses about the associations between firm performance and supply chain partnership. My results support that superior supplier partnership has a positive impact on reducing transaction costs and improving financial and market performance. In additional test, I establish a series of models with interactive terms. The results of additional test indicate that the impact is enhanced if the competition of each sub industry of the manufacturing industry is different. Above all, I put forward the following suggestions. Enterprise managers could establish an evaluation mechanism of suppliers and retailers, which select high-quality cooperative partners and reduce low-quality transaction costs for enterprises. When participating in business operation, shareholders could comprehensively understand the business conditions of various supply partners and choose reliable supply chain partners for investment. Also, the government can guide the realization of resource sharing and information exchange among supply chain enterprises, which is beneficial to create a more competitive supply chain to promote economic development.

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Berbagai Faktor Penentu Kesiapan Untuk Berubah Dan Pengaruhnya Terhadap Keberlangsungan Kegiatan UMKM Di Wilayah Terdampak Wabah Covid-19

CAPITAL JURNAL EKONOMI DAN MANAJEMEN ◽

10.25273/capital.v4i1.7368 ◽

2020 ◽

Vol 4 (1) ◽

pp. 14

Author(s):

Agus Prianto ◽

Ira Kurniawati ◽

Moh. Taufik Wahyudi ◽

Eva Yulistia

Keyword(s):

Environmental Changes ◽

Readiness To Change ◽

Business Environment ◽

Change Readiness ◽

Business Strategies ◽

Real Sector ◽

Future Studies ◽

Business People ◽

New Business ◽

Main Factors

Currently, real sector business activities are facing severe challenges. The development of ICT and the emergence of the covid-19 pandemic have led to changes in the business environment. Changes in the business environment require businesses to adjust by developing new business strategies, so that their business activities are in line with market demands. This study examines various determinants of readiness to change and their effect on the continuity of MSME activities in the covid-19 affected areas. The results of the study revealed that the new values and attitudes of micro business operators did not support the readiness to change, so they faced the problem of the sustainability of business activities. New values and attitudes are the main factors that shape readiness to change. While the readiness to change is an important factor that determines the sustainability of business activities. In addition, this study revealed that the business environment also as a factor forming change readiness and business continuity. This research recommends the importance of strengthening new values and attitudes for, especially for micro business people; so that they are better prepared to face a change. Future studies need to examine the effect of sudden environmental changes on the sustainability of business activities.

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Distributed Work Environments

Research Anthology on Digital Transformation, Organizational Change, and the Impact of Remote Work ◽

10.4018/978-1-7998-7297-9.ch100 ◽

2021 ◽

pp. 2011-2032

Author(s):

Edwiygh Franck

Keyword(s):

Work Environment ◽

Global Market ◽

Human Condition ◽

Work Environments ◽

Distributed Work ◽

Environment Model ◽

Work Concept ◽

The Right ◽

The Impact ◽

Distributed Work Environment

Technology is making the traditional workplace obsolete. Companies are taking advantage of the myriads of digital resources available to make their processes leaner, cut costs and have a larger presence in the global market through the concept of distributed work environment. In this chapter, the author provides an overview of the distributed work environment, as well as the impact it has on the human condition in the workplace. Although this technology driven work concept can be beneficial, companies have to ensure that it is the right business model for them and their employees. The author looks at different factors that companies need to consider in deciding to adopt a distributed work environment model. Several companies, over 125 of them, have successfully implemented the concept and the author shares some examples on how they were able to achieve success and employee satisfaction.

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Proposed Framework for Research in the Triple A (Agility, Adaptability, Alignment) in Supply Chains

Managing Global Supply Chain Relationships ◽

10.4018/978-1-61692-862-9.ch013 ◽

2011 ◽

pp. 306-321 ◽

Cited By ~ 4

Author(s):

Ivan Arana-Solares ◽

Jose Machuca ◽

Rafaela Alfalla-Luque

Keyword(s):

Supply Chain ◽

Supply Chains ◽

Competitive Advantage ◽

Business Performance ◽

Business Environment ◽

Sustainable Competitive Advantage ◽

Global Business ◽

The Impact

In the rapidly changing global business environment, it can be seen that supply chain designs based solely on efficiency and speed do not necessarily lead to a sustainable competitive advantage. According to Lee (2004), this can only be done if supply chains are designed to incorporate the Triple A: Agility, Adaptability and Alignment. Although Lee provided some examples, to date his claim has not been empirically tested, which is essential. A number of studies have looked at the three component parts of the Triple A separately, but as yet no studies have focused on all three Triple A components concurrently, or on the impact they have on business performance. The main aim of this chapter is to determine the dimensions and factors that characterize these variables, in order to empirically test the accuracy of Lee’s claim.

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CRITICAL ATTRIBUTES ON SUPPLY CHAIN STRATEGY IMPLEMENTATION: CASE STUDY IN EUROPE AND ASIA

Management and Production Engineering Review ◽

10.2478/mper-2013-0040 ◽

2013 ◽

Vol 4 (4) ◽

pp. 66-75

Author(s):

Ilkka Sillanpää ◽

Nurul Aida binti Abdul Malek ◽

Josu Takala

Keyword(s):

Supply Chain ◽

Critical Factor ◽

Business Environment ◽

Strategy Implementation ◽

Future Research ◽

Global Business ◽

Supply Chain Strategy ◽

Factor Index ◽

The Right

Abstract This case study research aims to compare the performance of the implementation of supply chain management (SCM) strategies within Asian and European Companies. The case study measures company’s opinions of supply chain strategy implementation through utilization of Sense and Response methodology. Critical Factor Index (CFI), Balanced Critical Factor Index (BCFI) and Scaled Critical Factor Index (SCFI) are used in this study to represent the result of comparison between European and Asian companies. From the analysis of comparison of all Sense and Response models, it can be concluded that there are differences and similarities of critical attributes that affecting supply chain strategy implementation in Asian and European companies. There are two attributes that have consistent trend for both regions; innovation and organization structure. In this research the analysis of supply chain strategy implementation was made for the needs of manufacturing industry. Suggestions for future research are multiple case studies in different industry areas in global business environment. The results provide a guideline to the company to measure the right attributes for making the right decision in a dynamic environment. It also provides good knowledge for companies to implement supply chain strategies, the main approaches to implement it and the main challenges in supply chain strategy implementation. Supply chain strategy implementation was analyzed in the European and Asian companies. This research shows that there are several developing areas for companies when implementing supply chain strategies.

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MANAGING RISK WITH THE USE OF COMPUTER SIMULATION

Proceedings of CBU in Economics and Business ◽

10.12955/peb.v2.250 ◽

2021 ◽

Vol 2 ◽

pp. 17-23

Author(s):

Monika Bučková ◽

Miroslav Fusko ◽

Gabriela Gabajová ◽

Martin Gašo ◽

Branislav Mičieta ◽

...

Keyword(s):

Computer Simulation ◽

Risk Management ◽

Simulation Model ◽

Action Plan ◽

Business Environment ◽

Global Business ◽

Risk Management Methodology ◽

External Risk ◽

Managing Risk ◽

The Impact

Internal and external risk management has become an important issue in today's global business environment, which is fraught with health, natural, political, economic and technical threats. This article deals with the design of a methodology for problem-solving and risk management in connection with computer simulation. The risk management methodology proposed by us consists of individual steps, which are summarized into three stages - risk assessment, risk analysis and risk management. The proposed computer simulation methodology consists of several steps, for example creating a parametric simulation model, designing experiments, analysis of the simulation model results or the evaluation of the simulation results. These steps are described in the article. After completing the previous steps, we describe the points of an action plan and what it must contain to avoid consequences and the impact of risks at the lowest possible level. An example of the use of computer simulation is the risk situation associated with the fluctuation of employees. In the end, the proposed methodology is supported by the results of our research and its further direction.

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Business Strategy for Longgar Outfit as a New Fashion Brand

Tourism and Sustainable Development Review ◽

10.31098/tsdr.v1i1.6 ◽

2020 ◽

Vol 1 (1) ◽

pp. 14-24

Author(s):

Sofia Nuraini ◽

Mustika Sufiati Purwanegara

Keyword(s):

Business Strategy ◽

Swot Analysis ◽

Secondary Data ◽

Business Environment ◽

Business Strategies ◽

Primary Data ◽

Environment Analysis ◽

Root Cause ◽

Fashion Brand ◽

New Business

Longgar Outfit is a local fashion brand from Bandung that focuses on plus size women. Longgar Outfit has the vision to become the leading plus size fashion brand in Bandung. Unfortunately, since the appearance of Longgar Outfit on the market in early January 2019, Longgar Outfit has faced problems in penetrating the market. The problem currently being faced by Longgar Outfit is unstable sales. The purpose of the research is to find out a suitable business strategy in order to stable Longgar Outfit sales. This research is conducted to summarize the business strategy for Longgar Outfit using internal and external business environment analysis, customer analysis, and SWOT analysis to determine the root cause. Use a qualitative approach as a research method for understanding a social phenomenon. This approach will find the current business situation, planning business strategies, and proposed new business strategies. Data collection techniques using observation and in-depth interviews as primary data, while secondary data with literature studies using books and journals related to principles of marketing, strategic marketing, and other topics. This research has limitations to the object being observed as many as two competitors who have a similar business model and interviewed 15 potential customers to explore their needs and desires regarding plus size clothing. The results of this research get findings on alternative business solutions for Longgar Outfit. The proposed business strategy for Longgar Outfit consists of a new STP strategy, create value proposition canvas, create a point of difference and point of parity, develop new marketing (4Ps) strategy, and organizational structure plan.

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The Impact of Communicating Sustainability and Ethical Behaviour of the Cosmetic Producers: Evidence from Thailand

Sustainability ◽

10.3390/su14020882 ◽

2022 ◽

Vol 14 (2) ◽

pp. 882

Author(s):

Hiroko Oe ◽

Yasuyuki Yamaoka

Keyword(s):

Structural Equation ◽

Emerging Market ◽

Global Market ◽

Business Strategies ◽

Ethical Behaviour ◽

Quantitative Methodology ◽

Measurement Scales ◽

Ethical Business ◽

Consumer Responses ◽

The Impact

Purpose—This study aims to demonstrate the antecedent factors of consumers’ cosmetics purchasing behaviour in the emerging market of Thailand from the perspective of sustainability. Specifically, the study aims to quantitatively analyse the impact of three hypothesised antecedents of consumer behaviour: product quality, communicating sustainability, and ethical business behaviour. Methodology—A quantitative methodology is applied in the study, which collects survey data from Thailand. This study focuses on two cosmetic brands in Thailand, a domestic brand and an international brand. The total 800-sample dataset was analysed using Structural Equation Modelling to validate a conceptual model with measurements of three antecedent factors: quality, ethical behaviour, and communication sustainability. Findings—It is found that ‘ethical behaviour of the producers had a non-significant impact for all samples and the ‘domestic brand’, whereas communicating sustainability had a significant impact in all sample cases. The proposed measurement scales present a practical and pioneering tool for assessing consumer responses and behaviour towards cosmetic brands. The set of scales will also help cosmetics marketers to appraise their strategic planning and monitor their progress toward creating and identifying consumer loyalty to cosmetics brands via producers’ ethical behaviour and CSR messaging. Originality—The global market and inter-stakeholder communications have greatly changed the way people perceive, behave towards, and react to business suppliers. The understanding of consumer brand loyalty in the cosmetics industry and the business strategies focused on the impact of communicating sustainability with ethical behaviour remain limited, especially in the context of the emerging market. This research contributes to filling this gap with empirical analyses.

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Change in Textile and Clothing Industry

Industria Textila ◽

10.35530/it.069.01.1449 ◽

2018 ◽

Vol 69 (01) ◽

pp. 37-43 ◽

Cited By ~ 1

Author(s):

TUDOR LIVIU

Keyword(s):

Change Management ◽

New Technologies ◽

Consumer Preferences ◽

Small And Medium Enterprises ◽

Business Environment ◽

Global Market ◽

Clothing Industry ◽

Labor Costs ◽

Global Business ◽

Efficient Manner

Traditionally, Textile and Clothing Industry has been known for its incremental changes but the current global business environment creates the premises of multiple organizational disruptive changes. Change Management helps people to transition structural change in a positive and efficient manner. Small and medium enterprises in Textile and Clothing Industry face a particular set of challenges – new technologies requiring high investments, relocation arbitrage on labor costs, regional industry protectionism, volatile consumer preferences, need for new managerial skills etc. – all these demanding a rebalance of managerial focus from operational excellence to strategic and change management excellence. A Change Management Model, with associated implementation discipline and attention to global market trends, represents a necessity for current managers active in Textile and Clothing Market.

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