International Journal of Professional Business Review
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The Effect of Market Orientation, Entrepreneurial Orientation, Innovation and Competitive Advantage on Business Performance of Indonesian MSMEs
Get PDFPurpose: The objective of this study was to determine the effect of market orientation, entrepreneurial orientation, innovation, and competitive advantage on MSMEs (Micro Small and Medium Enterprises) business performance.
Design/methodology/approach: This type of research is quantitative with a case study research design. The implementation of the research was carried out in Indonesia, especially in Lamongan district, East Java, Indonesia. The research subjects were MSMEs owners/managers with a total sample of 302 using SPSS-AMOS 22 SEM (Structural Equation Modeling) analysis.
Findings: The results of this study indicate that there is an significant influence of market orientation, entrepreneurial orientation, competitive advantage on business performance, while innovation has no significant influence on MSMEs business performance.
Research, Practical & Social implications: The theoretical implication of this research is to increase knowledge about market orientation and entrepreneurial orientation as well as increase innovation and competitive advantage to get maximum MSMEs business performance. The results of this study can provide information to the government and organizations related to MSMEs. In this case, the Office of Cooperatives and Micro Enterprises, the Office of Industry and Trade in Lamongan district, East Java, Indonesia.
Originality/value: The results of the Structural Equation Modeling evaluation with the univariate normality test showed an excellent critical skewness ratio value, and the kurtosis indicated data was normally distributed, and the data is feasible to use. Than 7 methods (X2-Chi square, Sign Probability, CMIN/DF, GFI, AGFI, TLI, CFI, and RMSEA) are used to measure the fit of the model in SEM there are 6 criteria that are fit from 7 existing criteria, so it can be concluded that this measurement model has a good fit level. The results of hypothesis testing affect market orientation has a significant on MSMEs performance, entrepreneurial orientation has a significant on MSMEs performance, competitive advantage has a significant on MSMEs performance, market orientation has a significant on innovation, market orientation has a significant to competitive advantage, entrepreneurial orientation has a significant on innovation, entrepreneurial orientation has a significant on competitive advantage, competitive advantage has a significant on innovation, and innovation has not a significant on MSMEs performance
The Impact of Good Corporate Governance (GCG) on Manufacturing Financial Performance: Evidence of Listed Companies on the Stock Exchange (IDX)
Get PDFThe purpose: This research is to scrutinize the impact of the board of directors (BoD), the board of commissioners (BoC), the proportion of independent commissioners (PoIC), managerial ownership (MO), and the audit committee (AC) on the company's financial performance manufacturing financial performance from 2015 to 2019.
The theoretical framework: Composition from several variables which are Board of Directors (BoD), Board of Commissioners(BoC), Proportion of Independent Commissioner(PoIC), Managerial Ownership (MO), and Audit Committee (AC).
Design/Methodology/Approach: In this research, secondary data was used with a purposive sampling method to determine the number of samples. The number of samples obtained was 98 company data. Then, this study employed the multiple linear techniques. The tool utilized in this research were the Microsoft excel program and SPSS version 21.
The Findings: research revealed that BoD, BoC, and MO variables significantly influenced the company's financial performance, whereas PoIC and AC did not significantly impact financial performance.
Research, practical and social implications: This study attempted to highlight the impact of excellent corporate governance on company financial performance at (Indonesia stock exchange manufacturing listed companies) in latest years as well as to show things that can be done in improving the quality of the company by improving the financial performance of the company. Therefore,
Originality/value: The value of the study every company is competing to improve the quality of the company to achieve its goals and be able to compete with other companies through the GCG is a rule of good governance for a firm between various participants by managing resources economically, productively, effectively, and efficiently to achieve the organization's goals
Risk Assessment Using Predictive Analytics
Get PDFPurpose: This research paper uses design science methodology to develop and evaluate a predictive analytics model for audit risk assessment. This research therefore contributes to improving the accuracy and efficiency of audit risk assessment through predictive analytics.
Theoretical framework: This study involved developing and evaluating a predictive analytics model for audit risk assessment, with it being tested during the audit of a publicly listed Saudi company.
Design/methodology/approach: This study adopted the design science research methodology, which is a problem-solving approach that involves the creation of innovative solutions to practical problems. This methodology is particularly relevant for developing and evaluating predictive analytics models for audit risk assessment, because it provides a structured, systematic approach to the problem-solving process. In the context of this research paper, the design science research methodology was used to develop and evaluate a predictive analytics model for audit risk assessment.
Findings: The proposed predictive analytics model for audit risk assessment was found to be an effective tool for helping auditors to make informed decisions based on data analysis. The model accurately identifies high-risk factors associated with an organization, provides valuable insights for decision-making, and highlights areas of potential risk that may require further investigation.
Research, practical & social implications: Future research could explore several areas related to predictive analytics in audit risk assessment. One important area to investigate would be the impact of using predictive analytics on audit quality. The ethical implications of using predictive analytics in audit risk assessment and the potential biases that could affect a model’s accuracy are also important areas to explore.
Originality/value: This paper helps improve our understanding of how predictive analytics can be effectively applied to audit risk assessment and how design science methodology can be used to develop and evaluate predictive analytics models. Furthermore, this study provides insights about the effectiveness of predictive analytics for improving audit risk assessment, thus contributing to the existing literature on the topic
The Impact of the Correlation Between Working Capital and the Value of the Company in the Environment of Iraqi Banks
Get PDFPurpose: The research aims to measure the impact and correlation relationship between working capital and the value of the company in Iraqi banks.
Theoretical framework: and the research shows a conceptual approach to working capital and its intended importance, policies and indicators. In addition, it reviews the value of the company and the factors affecting it, and the role of working capital on the value of the company.
Design/methodology/approach: In order to achieve this, the authors selected a sample of the commercial banking sector listed on the Iraqi Stock Exchange, where four commercial banks were selected, namely (the Iraqi investment bank), (the Bank of Baghdad), (Kurdistan bank), (Ashur international investment bank) and for the years from (2016-2020) and according to their availability in the market to be the research sample. In order to measure the research variables, the authors used the model of the amount of change in working capital, to measure the variable of working capital, and the modified (Tobin's Q) model was used to measure the value of the company, in addition, the Pearson correlation coefficient was used, and the regression equation to measure the correlation and impact relationship.
Findings: The results indicate the existence of a positive impact relationship with a significant significance between the working capital and the value of the company at a significant level of 0.05, as an increase in working capital and the value of the company at a significant level of 0.05 by one unit leads to an improvement of (0.602) , and the results also showed a significant impact relationship with a value of (T) of (13.251), and the regression coefficients with a value of (F) amounted to (103.224), and this contributed to the explanation of the amount of (0.240) of the permissible discrepancy between working capital and the company's value is at a significant level of( 0.05).
Research, Practical & Social implications: The need to pay attention to current assets and current liabilities and invest optimally in them because they are an important element along with fixed assets and long-term liabilities in order to achieve high profitability ratios and then achieve optimal performance and try to maximize the wealth of the owners.
Originality/value: The management of Iraqi banks should intensify interest in managing working capital in a good and scientific way, for the sake of the best expected performance, and it has to do with achieving better results, through paying attention to the careful analysis of the components of current assets, and the corresponding current liabilities, to achieve the required efficiency in managing capital The Worker
The Impact of Integrated Reporting on Improving the Quality of Financial Reporting
Get PDFPurpose: The aim of this study is to demonstrate the impact that integrated reports on the quality of the financial report by analyzing the relationship between them. The current study aims to It applies it to the 132 companies listed in the Iraq Stock Exchange for the year 2022.
Theoretical framework: The nature of integrated reports: Company reports are an essential means through which decision-making information can be delivered to stakeholders. So corporate reports must keep pace with the expansion of commercial activities and the development of economic reality and meet the needs of stakeholders.
Design/methodology/approach: For the purposes of data analysis, the researchers used the statistical program (SPSS & Amos) version XXV.
Findings: The results of the study concluded by rejecting the null hypothesis and accepting the alternative hypothesis as follows which is there is a statistically significant effect of disclosure according to the integrated reports on the quality of the financial report, as measured by the accounting options gap.
Research, Practical & Social implications: The study need arose for other reports that support and improve the quality of financial reports and contain financial and non-financial information due to the need of stakeholders for this type of reporting, which is called integrated reports. These reports are able to provide information related to strategy, risk, performance, governance and future expectations in one report.
Originality/value: The value of the study is to reduce the asymmetry of information between investors through the disclosure of financial and non-financial information, the disclosure of this type of reports can increase the confidence of stakeholders in financial reports and support them and thus make sound decisions for investment. The integrated reports provide reports on the six capitals, the main objective of these reports is to improve the quality of the information that is provided by the authority, whether financial or non-financial
Environmental Management Control Systems and Environmental Performance: Direct and Indirect Effect
Get PDFPurpose: This study aims to examine the effect of environmental management control systems on environmental performance. Testing is carried out directly or through the environmental strategy mediation role.
Theoretical framework: In contrast to previous studies, this research focuses on managerial activity processes that enable, encourage, ensure how a company and facilitate practices that achieve environmental performance and strategies to achieve it. The research model is built on the basis of stakeholder theory and contingency theory.
Design/methodology/approach: The research was conducted through an online survey of hotel managers in Makassar City, Indonesia. Data analysis was performed by regression, path analysis and Sobel test.
Findings: The results of the study prove that the environmental management control system has a positive and significant effect on environmental strategy and environmental performance. The Sobel test also proves that environmental strategy mediates the influence of environmental management control systems on environmental performance.
Research, Practical & Social implications: This research covers hotels in Makassar, not all of them in Indonesia; therefore, generalizing the findings of this study should be exercised with caution. Secondly, this study assumes hotel homogeneity and does not consider hotel type. The findings of this study also provide recommendations on public policy and business practices to integrate environmental issues into managerial processes and decision-making as well as corporate control. Further research can expand this research by considering contextual and other contingency aspects. In addition, future research may use a larger sample and longitudinal data which allows to investigate changes in strategic environmental management control system policies over time.
Originality/value: Improvements in research on environmental management control systems have become a very important issue in supporting the themes of sustainability in business practices globally. The originality of this research focuses on managerial processes to support sustainability practices in business, especially business practices in hotels
Industrial Procurement Management Efficiency Guidelines: Perform Excellence Through Organisational Change Strategies
Get PDFPurpose: The objective of this research was to use structural equation modelling to illustrate guidelines for enhancing procurement management efficiency in the industrial business sectors.
Theoretical framework: The conceptual framework was developed based on relevant studies and incorporated elements from procurement excellence models established by renowned organisations, including McKinsey’s successful procurement operating model (2018), BCG’s five pillars of procurement excellence (2019), and PwC’s operating procurement model (2019).
Design/methodology/approach: This study utilised a mixed-methods approach, combining qualitative (in-depth interviews and focus group discussions) and quantitative (survey) research methods. The quantitative data was collected through a questionnaire consisting of four parts, which was administered to 500 executives from industrial businesses. The data was analysed using descriptive, inferential, and multivariate statistical techniques.
Findings: The guidelines thoroughly examined four key elements: organisational change, technology management, internal control process, and business alliance networks - influencing procurement management efficiency in Thailand. This analysis used confirmatory factor analysis, second-order confirmatory factor analysis, and structural equation modelling. After modification, the final model included 23 observed variables under six hypotheses and was evaluated using congruence evaluation criteria to ensure its effectiveness.
Research, Practical & Social implications: The researchers suggested that future studies focus on the specific characteristics of each industrial type, such as the automobile sector, food and beverage industry, or emerging S-curve and new S-curve segments. The future research results would allow for a more in-depth analysis of the unique factors that impact procurement management efficiency within each industry.
Originality/value: The findings suggest that the developed models can serve as valuable guidelines for industrial businesses looking to improve their procurement management systems and implement effective strategies. By adopting these models, businesses may enhance their profitability and optimise their use of resources, thereby improving overall efficiency
Shifting Paradigms in Coffee-Based Cultivation: Cultural Management Practices and Technology Utilization in Upland, Cavite, Philippines
Get PDFPurpose: The aim of this study is to analyze the changes in the cultural management practices and technology used in farming that have taken place with the coffee-based farming systems in an upland area in Cavite, Philippines from 2001-2020.
Theoretical framework: The Triple Bottom Line (TBL) paradigm is a sustainable development strategy considering social, environmental, and economic factors. Once agricultural systems are tested, TBL might help promote productive and sustainable farming practices that benefit producers, communities, and the environment. By adopting a complete sustainability strategy, the TBL framework may help develop socially, ecologically, and economically sustainable agricultural systems and contribute significantly to long-term adaptation and prosperity.
Design/methodology/approach: The study is qualitative research design and used several data collection methods, including in-depth interviews, key informant interviews, focus group discussion, document analysis, field notes, and farm visits and observations.
Findings: The results show that in farmers' different cultural management practices, significant changes have occurred in several methods over the past two decades. Regarding the application and use of new technologies, farmers applied newly introduced technologies by individuals and other institutions.
Research, Practical & Social implications: The study sheds light on the current state of coffee-based cultivation and practices and make recommendations to further improve farmers' cultural management practices and sustain the local coffee-based farming system. In addition, access to new and relevant technology and knowledge on how to apply it to improve farming productivity among coffee-based farmers This study also provides valuable guidance for extension experts and workers, policymakers, coffee-based growers, and researchers who want to improve coffee-based farming systems' sustainability and economic viability at the same time empower farming communities.
Originality/value: This study is a qualitative examination of how technology utilizations and cultural management practices interact with coffee-based agricultural systems in Upland Cavite, Philippines. This research provides much-needed in-depth knowledge of how traditional agricultural systems adjust to technology improvements during the global crisis since there have been few qualitative studies on this topic, particularly at such a trying time. It provides a localized perspective that acknowledges regional variations and the influences of geographical and socio-cultural nuances as it examines the socio-economic and cultural impacts of technology adoption in the specific sector of coffee-based farming, which is vital to the Philippine economy. Moreover, the study is noteworthy in providing a temporal component that describes how technology has changed practices through time. The findings of this research, which were obtained during an unprecedented period, should help stakeholders create more effective and culturally-sensitive strategies for adopting technology and sustainability in coffee-based cultivation. Combining these distinctive elements highlights the research's significant uniqueness and worth
Identification of HRM Improvement Strategy Using Artificial Intelligence in Modern Economic Development
Get PDFPurpose: This literature review study aims to identify HRM improvement strategies using artificial intelligence (AI) in modern economic development.
Theoretical framework: The study will review existing literature and synthesize the findings to identify best practices and key strategies for implementing AI in HRM. The study will focus on the role of AI in HRM improvement and explore how AI can be used to enhance recruitment, training, performance management, and employee engagement.
Design/methodology/approach: Literature review, the search approach will include keywords and Boolean operators to guarantee that relevant research is located. The study questions and goals will define the inclusion and exclusion criteria. The study will also look at the hurdles of implementing AI in HRM and recommend overcoming them.
Findings: The findings of this study will be helpful for organizations seeking to improve their HRM practices using AI and for researchers interested in the intersection of AI and HRM in modern economic development.
Research, Practical & Social implications: The results of the study are useful for policymakers in identifying strategies to improve human resource management using artificial intelligence (AI) in modern economic development.
Originality/value: The research value of this text is its suggestions for conducting more research on how AI affects HRM processes and employee engagement, for creating clear rules and standards for the ethical use of AI in HRM, for teaching HR professionals how to use AI-powered HRM tools and strategies effectively, for fostering collaboration between academic researchers, business leaders, government officials, and other stakeholders, and for overseeing the effects of AI
Convergence or Divergence in the Manufacturing Sector Since 1980’s? Evidence from the Indian Sub Nationals
Get PDFPurpose: The objective of this study was to divulges into understanding the inter-state disparities across the sixteen major Indian states in the registered manufacturing sector by analyzing it’s pattern and traversing over the years initiating from 1980-1981 to 2015-2016.
Theoretical framework: The Indian economic development pattern is not only unusual, but also rare, when one compares it to the economic development paths followed by other developing and developed countries. The countries such as Singapore, Taiwan, South Korea and China achieved economic growth by initially giving priority to the manufacturing sector. It was after producing tangible outputs and generating innovations in the manufacturing sector that in the above mentioned countries, the services sector emerged as the biggest and leading sector in economic growth. The economic literature also shows a strong correlation between the growth of the manufacturing output and the growth of GDP (Thirlwall, A. P. 1983). The growth of the manufacturing sector sucks labour resources from other sectors where disguised unemployment exist; which contributes to the growth of the capital employed in the industry, while the productivity of other sectors is not adversely affected (N. Marconi et. al,2016) In other words, a strong and growing manufacturing sector is necessary for economic growth and development. However, in India the services sector emerged as the biggest and fast growing sector in the very beginning, and the manufacturing sector's contribution to economic growth has been relatively small.
Design/methodology/approach: To bring about the pattern of the size of the manufacturing sector the data has been analyzed by tabulation, calculating averages, coefficients of variations, bar diagrams and line graphs so that a clear picture is exemplified. To look into the impact of geographical location the data has been divided into two regional schemes which have been analyzed using the dummy variable regression technique (ANOVA), and lastly to highlight if there exists convergence or divergence across the states over the aforementioned time period the technique of σ – convergence and β-convergence have been applied.
Findings: The results of σ – convergence based on coefficient of variation clearly show that the size of manufacturing sector, in terms of both the indicators of size, diverged among states over 1980-1981 to 2015-2016 period. At least it is sure that no convergence occurred over this period. Furthermore, the results of the β-convergence based on growth rates of the two indicators give conflicting conclusions. The value of gross output per-capita indicated divergence over the reference period; but SDP share indicator suggested convergence over the same period. Taking both σ- convergence and β-convergence together, one may suggest that these do not indicate to any tendency towards convergence over this period. Therefore the objective of this paper was to analyse the change in the size of manufacturing sector across the states over the 1980-81 /2015-16 period on the basis of two indicators; share of manufacturing sector in SDP and value of gross manufacturing output per capita. The analysis revealed that the pattern changed somewhat over this period. Some states improved their ranking e.g. Gujarat and H.P. and ranking of some others worsened e.g. Maharashtra, Bihar etc. The analysis also revealed that there was no significant difference in the SDP share and value of gross output per capita of manufacturing sector between coastal / non coastal and northern/southern states. The analysis of convergence / divergence across the states over the 1980-81/ 2015-16 revealed that convergence did not occur; rather there was some tendency towards divergence.
Research, Practical & Social implications: Future research should focus on the reducing the disparities among the Indian states via exploring other important variables in the manufacturing sector. It can be further extended by using panel data analysis. Also, Policy implication suggested for the laggard states has been to identify the caveats and implementation of policies for them should be at national level to bolster the overall growth of the manufacturing sector