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Open access

Martin Čepel

Abstract

A stable, prosperous and competitive economic system in every developed country requires a high-quality business environment in the SME sector. The quality of the business environment is a key factor in the economic development of countries, as it is of a great importance for the growth of the economy´s competitiveness and also for its future and sustainable economic growth. The aim of the article was to quantify the significant social and cultural factors creating the quality of the business environment in the SME segment and to compare their importance in the Czech and Slovak Republic. Within the context of the stated aim of the research, questionnaire survey was carried out among the enterprises operating in the SME segment. Within the research, 312 companies in the CR and 320 companies in Slovakia were addressed. The Z-score method was used to verify the established scientific hypotheses. The research has brought up some interesting results. The research results point to a significant finding that the entrepreneurs in both countries have experienced a relatively low public and political acceptance. On the other hand, the entrepreneurs stated that the family environment motivates them to do business and helps them with their entrepreneurial activities. The assessing of the media impact on the business is quite negative in both countries. Entrepreneurs have largely thought that the media misrepresent doing business in general and do not help to shape the business environment, e.g. through the presentation of business success stories. More than the two-thirds of entrepreneurs in both countries have agreed that the doing business´ advantages outweigh the disadvantages. This research has some limitations, but is has brought interesting findings and a potential inspiration for further research to explore the issue of the quality of the business environment of SMEs.

Open access

Georgios Lampropoulos, Kerstin Siakas and Theofylaktos Anastasiadis

Abstract

Due to successive technological advancements, developments and innovations, the global industrial landscape has drastically transformed over the last years. The fourth industrial revolution (Industry 4.0) aims at transforming traditional industries into intelligent ones by incorporating innovative technologies. Industry 4.0 enables physical assets to be integrated into intertwined digital and physical processes thus creating smart factories and intelligent manufacturing environments. Internet of Things (IoT) is a rapidly growing technology that has drastically contributed to the Industry 4.0 realization. IoT pursues to pervade our everyday environment and its objects, linking the physical to the digital world and allowing people and “things” to be connected anytime, anywhere, with anything and anyone ideally using any network and service. IoT is regarded as a dynamic and global network of interconnected “things” uniquely addressable, based on standard and interoperable communication protocols and with self-configuring capabilities. Despite still being at an early development, adoption and implementation stage, Industry 4.0 and IoT can provide a multitude of contemporary solutions, applications and services. Hence, they can improve life quality and yield significant personal, professional and economic opportunities and benefits in the near future. This study scrutinizes IoT in the Industry 4.0 context. More specifically, it presents related studies, describes the IoT concept and explores some of the numerous IoT application domains. Moreover, it presents and analyzes the concept of Industry 4.0 and the benefits it offers as well as the relevant key technologies (e.g. industrial internet of things (IIoT), cyber-physical systems (CPSs), cloud computing, big data and advanced data analytics). Furthermore, it describes the concept of intelligent manufacturing and highlights the main IoT and Industry 4.0 challenges and open research issues. Finally, the need for innovation in the industrial domain and the impact and benefits that IoT and Industry 4.0 provide to everyday life and industries is described.

Open access

Zahid Zamir

Abstract

The Knowledge Management (KM) has been defined as performing activites in discovering, capturing, sharing and applying knowledge in a more effective and effieicnt way. This study looks at only two such processes namely: capruring and sharing knowledge and their sub-processes. The purpose of this study is to conduct exploratory research to investigate the extent to which the sub-processes of knowledge capture and knowledge sharing of knowledge management impact the employee learning, adaptability, Job satisfaction and intention to stay on the job. This research was conducted using a purposive sample from financial services firms in Bangladesh. The sample consisted of 254 respondents from 23 different branches of eight commercial banks drawing from all levels of employees in the organizational hierarchy. The partial least squares (PLS) approach using Smart PLS has been used to test both the measurement and structural models. The findings of this study confirm that it is not the KM processes rather the sub-processes of KM process that can positively impact on employees' outcomes. This study involved self-administrated questionnaires and was open to all levels of staff and measured perceptions of the employees as opposed to actual behavior. This study suggests that employees' learning and adaptability depend on the usability and comfortability of the knowledge management initiatives undertaken by the management. Practitioners may employ the same experimental method using the instruments developed for this study to analyze the impact of the subprocesses of knowledge capture and knowledge sharing on employee outcomes. This study contributes to the existing literature of knowledge management that how the sub-processes of knowledge capture and knowledge sharing motivate employees to learn and adapt and how learning and adaptability contribute to job satisfaction and staying intention.

Open access

Kehinde A. Ojewumi and Damilare A. Fagbenro

Abstract

This study was carried out to examine the role of self-efficacy and social networks on entrepreneurial intention among polytechnic students in Ile - Ife Osun state, Nigeria. Theory of Reasoned action was used as a theoretical framework for this study. A survey design was adopted. The data for this study was collected in 2018 via a purposive sampling technique, where 240 students (81 females and 159 males) with age range of 21–35 years (M = 23.61, SD = 2.63) were selected from one polytechnic. Inferential statistics (t-test for independent measure) was used to test the hypotheses in this study. Result showed that there was significant difference between entrepreneurial intention of polytechnic students with low self-efficacy and high self-efficacy. There was significant difference between entrepreneurial intention of polytechnic students with low social network and high social network. Therefore, to improve entrepreneurial intention among polytechnic students, psychologists should organize psycho-educational interventions aim at increasing self-efficacy and social networks of polytechnic students.

Open access

Ruth Wanjiku Muriithi, Teresia Kyalo and Josphat Kinyanjui

Abstract

Organisational culture has been the focus in both theory and practice and has captured attention throughout the last decade because of its substantial relationship between the concept itself and its outcomes such as gaining competitive advantage and performance in businesses. Entrepreneurial Orientation refers to the strategy making processes that it provides organisations with a basis for entrepreneurial decisions and actions. Despite of its importance and being a popular entrepreneurship concept there is little evidence of research that has been done to determine the relationship between Entrepreneurial Orientation, organisational culture adaptability and performance in hotels and where applied it is minimal. The purpose of this study was to determine the relationship between Entrepreneurial Orientation, organisational culture adaptability and performance of Christian Faith-Based Hotels in Kenya. This study was anchored on the epistemology philosophy and adopted a positivist approach. The study used the mixed methods approach guided by a cross-sectional survey research design. The variable items for organisational culture adaptability and performance were measured using the five-point Likert scale and using the Denison’s organisational survey instruments. The population of the study included 72 managers and 1878 junior staff from 24 Christian faith-based hotels in Kenya. Structural equation models (SEM) and an MMR model were fitted to assess the objective of the study. Based on the SEM and MMR models, the study found that adaptability has a significant positive influencing on the performance of Christian Faith Based Hotels β= 0.520, t= 2.444, p-value=0.018). The study also found that Entrepreneurial Orientation had a moderating role on the relationship between organisational culture adaptability and performance of Christian Faith Based Hotels based on the MMR model that had a significant change in R due to addition of the interaction term (R-square change=.063, F-change=4.293, p-value=0.043). The study is important to a business because it will encourage it to adapt to the environment to improve performance.

Open access

Fabian Buder, Anja Dieckmann, Holger Dietrich and Julia Wieting