Pub Date : 2024-08-09DOI: 10.37394/23207.2024.21.138
Peter Bielik, S. Belinska, Zuzana Bajusová, I. Adamičková, Tatiana Bullová, Yanina Belinska, Patrícia Husárová
The negative effects of fossil fuels use on the environment and their non-renewability force economists to think about other options and ways of obtaining energy, on the one hand, from sources that are quickly renewable and, on the other hand, from those that during the process of obtaining energy do not cause excessive environmental pollution. The importance of the circular economy as a new direction of economic development is increasingly contributing to sustainable development. The diversification and expansion of economic activities are considered through biofuel production to be an effective way of increasing the share of renewable sources in solving the world's ecological problems. For governments to guarantee clean home energy access, biogas energy must be produced and used sustainably. The production of biogas from biomass has various economic effects that can significantly support sustainable development objectives. Strategic planning, cooperation, and innovation are required to optimize these economic gains to overcome governmental and regulatory difficulties, market dynamics, technological restrictions, and budgetary restraints. Market risks—classified as political, economic, social, technological, legal, and environmental (PESTLE)—impact this. To determine the PESTLE restrictions and evaluate their effects on the sustainable development of technology in the EU, this study reviews peer-reviewed literature. The Pestel method is used to identify strengths, weaknesses, opportunities, and threats because the market is subject to constant changes and is characterized by dynamics. PESTEL analysis can detect new opportunities in the biofuels market that a company can use for its growth and overtake potential competition in strategic steps.
{"title":"Economic Impact of using Biomass for Biogas Production in the Context of Sustainable Development","authors":"Peter Bielik, S. Belinska, Zuzana Bajusová, I. Adamičková, Tatiana Bullová, Yanina Belinska, Patrícia Husárová","doi":"10.37394/23207.2024.21.138","DOIUrl":"https://doi.org/10.37394/23207.2024.21.138","url":null,"abstract":"The negative effects of fossil fuels use on the environment and their non-renewability force economists to think about other options and ways of obtaining energy, on the one hand, from sources that are quickly renewable and, on the other hand, from those that during the process of obtaining energy do not cause excessive environmental pollution. The importance of the circular economy as a new direction of economic development is increasingly contributing to sustainable development. The diversification and expansion of economic activities are considered through biofuel production to be an effective way of increasing the share of renewable sources in solving the world's ecological problems. For governments to guarantee clean home energy access, biogas energy must be produced and used sustainably. The production of biogas from biomass has various economic effects that can significantly support sustainable development objectives. Strategic planning, cooperation, and innovation are required to optimize these economic gains to overcome governmental and regulatory difficulties, market dynamics, technological restrictions, and budgetary restraints. Market risks—classified as political, economic, social, technological, legal, and environmental (PESTLE)—impact this. To determine the PESTLE restrictions and evaluate their effects on the sustainable development of technology in the EU, this study reviews peer-reviewed literature. The Pestel method is used to identify strengths, weaknesses, opportunities, and threats because the market is subject to constant changes and is characterized by dynamics. PESTEL analysis can detect new opportunities in the biofuels market that a company can use for its growth and overtake potential competition in strategic steps.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":"35 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141923012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-08-09DOI: 10.37394/23207.2024.21.140
Salim Mohammed Baomar, Muhummad Khairul Islam
This study aims to examine the impact of transformational leadership on employee performance in Oman's telecoms industry. This research is driven by the necessity for companies to enhance staff productivity in order to gain a competitive advantage. The study conducts a thorough examination of previous literature to explore the influence of employee motivation, engagement, and emotional intelligence on performance. Moreover, it assesses the ability of transformational leadership to serve as a vital link in improving employee outcomes. The research will offer managers and executives in the telecom industry useful suggestions to help them create strategies that will boost productivity and accomplish organizational objectives. The study provides specific goals and research questions to direct further studies in this area.
{"title":"Evaluating the Mediating Role of Transformational Leadership in the Nexus of Employee Motivation, Engagement, Emotional Intelligence, and Performance: A Comprehensive Review","authors":"Salim Mohammed Baomar, Muhummad Khairul Islam","doi":"10.37394/23207.2024.21.140","DOIUrl":"https://doi.org/10.37394/23207.2024.21.140","url":null,"abstract":"This study aims to examine the impact of transformational leadership on employee performance in Oman's telecoms industry. This research is driven by the necessity for companies to enhance staff productivity in order to gain a competitive advantage. The study conducts a thorough examination of previous literature to explore the influence of employee motivation, engagement, and emotional intelligence on performance. Moreover, it assesses the ability of transformational leadership to serve as a vital link in improving employee outcomes. The research will offer managers and executives in the telecom industry useful suggestions to help them create strategies that will boost productivity and accomplish organizational objectives. The study provides specific goals and research questions to direct further studies in this area.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":"56 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141922917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-08-09DOI: 10.37394/23207.2024.21.139
K. Nouria
The continuous and rapid development of digital technology has led to the emergence of cyberspace, comprising the Internet and its related advanced technology and smart applications. The latter has evolved into a conduit for the ongoing digital transformation of human life and activities across diverse sectors. Economic advancement now hinges closely on nations' capacity to align with this swift-paced progress., which achieves prosperity for individuals and society. Based on this basis, this research aims to study the impact of digital transformation on economic well-being through a standardized study of two indicators, the Information and Communication Technology Development Index (IDI) and the Economic Well-being Index (IDH) in Algerian society. The study has shown a positive long-term impact.
{"title":"The Role of Digital Transformation in Achieving Economic Well-being the Case of Algeria","authors":"K. Nouria","doi":"10.37394/23207.2024.21.139","DOIUrl":"https://doi.org/10.37394/23207.2024.21.139","url":null,"abstract":"The continuous and rapid development of digital technology has led to the emergence of cyberspace, comprising the Internet and its related advanced technology and smart applications. The latter has evolved into a conduit for the ongoing digital transformation of human life and activities across diverse sectors. Economic advancement now hinges closely on nations' capacity to align with this swift-paced progress., which achieves prosperity for individuals and society. Based on this basis, this research aims to study the impact of digital transformation on economic well-being through a standardized study of two indicators, the Information and Communication Technology Development Index (IDI) and the Economic Well-being Index (IDH) in Algerian society. The study has shown a positive long-term impact.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":"36 40","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141924743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Through this research, we will be analyzing the Effect of RegTech on Compliance Costs and Risk Management in the Banking Sector, mainly with the eye of people in administrative roles in Saudi Banks, a total of 232. A new technological trend is reshaping the financial industry, RegTech, marked by various advanced technological processes and automation. The main findings show that RegTech significantly reduces compliance costs, confirming its cost-saving potential. Therefore, Employee perceptions are critical to integrating and adopting RegTech within business operations. In addition, RegTech improves risk management systems with more accessible procedures and better internal controls. This proves RegTech’s ability to improve the banking processes and strengthen the risk management system. Proportional to the organizational support, tool investments, and tool diversity interactions are moderated, and operational efficiency is enhanced. This research contributes significantly to the more profound knowledge of the implication of RegTech in the Saudi banking sector, which facilitates transformation through renewed practices in the industry alongside its efficiency.
{"title":"The Impact of RegTech on Compliance Costs and Risk Management from the Perspective of Saudi Banks’ Employees","authors":"Lotfi Zabat, Naima Sadaoui, Houcine Benlaria, Sumaya Awad Khader Ahmed, Balsam Saeed Abdelrhman Hussien, Badreldin Mohamed Ahmed Abdulrahman","doi":"10.37394/23207.2024.21.98","DOIUrl":"https://doi.org/10.37394/23207.2024.21.98","url":null,"abstract":"Through this research, we will be analyzing the Effect of RegTech on Compliance Costs and Risk Management in the Banking Sector, mainly with the eye of people in administrative roles in Saudi Banks, a total of 232. A new technological trend is reshaping the financial industry, RegTech, marked by various advanced technological processes and automation. The main findings show that RegTech significantly reduces compliance costs, confirming its cost-saving potential. Therefore, Employee perceptions are critical to integrating and adopting RegTech within business operations. In addition, RegTech improves risk management systems with more accessible procedures and better internal controls. This proves RegTech’s ability to improve the banking processes and strengthen the risk management system. Proportional to the organizational support, tool investments, and tool diversity interactions are moderated, and operational efficiency is enhanced. This research contributes significantly to the more profound knowledge of the implication of RegTech in the Saudi banking sector, which facilitates transformation through renewed practices in the industry alongside its efficiency.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":"3 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140962357","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-17DOI: 10.37394/23207.2024.21.100
Yugi Setyarko, N. Noermijati, Mintarti Rahayu, S. Sudjatno
This research aims to predict organic vegetable purchasing behavior by testing the three predictors in the Theory of Planned Behavior (TPB) which include attitudes (ATT), subjective norms (SN), and perceived behavioral control (PBC), as well as using consumer green assurance (CGA) to fill the gap that occurs in purchasing intentions (PI) and PBC towards purchasing behavior (PB). The population in this study are organic vegetable consumers spread across the Jakarta area. Data collection from 242 respondents was carried out using the purposive sampling method. Data processing uses PLS-SEM with the help of SmartPLS 4.0. The research results show that ATT and PBC directly influence PI, while SN does not affect PI. Furthermore, PI and PBC directly influence PB. CGA, as moderation, strengthens the influence of PI and PBC on PB. Theoretical contribution of this research is NS is not always a strong predictor of Intention to carry out a specific behavior. The presence of CGA in the TPB model can fill the gap between intentions and actual conduct. The implication results of this study indicate that it is necessary to carry out outreach efforts about the health and environmental benefits of consuming organic vegetables to increase subjective norms in society. Respondents’ understanding of the term organic is different from one another, so there are differences in perception in assessing organic vegetables.
{"title":"The Role of Consumer Green Assurance in Strengthening the Influence of Purchase Intentions on Organic Vegetable Purchasing Behavior: Theory of Planned Behavior Approach","authors":"Yugi Setyarko, N. Noermijati, Mintarti Rahayu, S. Sudjatno","doi":"10.37394/23207.2024.21.100","DOIUrl":"https://doi.org/10.37394/23207.2024.21.100","url":null,"abstract":"This research aims to predict organic vegetable purchasing behavior by testing the three predictors in the Theory of Planned Behavior (TPB) which include attitudes (ATT), subjective norms (SN), and perceived behavioral control (PBC), as well as using consumer green assurance (CGA) to fill the gap that occurs in purchasing intentions (PI) and PBC towards purchasing behavior (PB). The population in this study are organic vegetable consumers spread across the Jakarta area. Data collection from 242 respondents was carried out using the purposive sampling method. Data processing uses PLS-SEM with the help of SmartPLS 4.0. The research results show that ATT and PBC directly influence PI, while SN does not affect PI. Furthermore, PI and PBC directly influence PB. CGA, as moderation, strengthens the influence of PI and PBC on PB. Theoretical contribution of this research is NS is not always a strong predictor of Intention to carry out a specific behavior. The presence of CGA in the TPB model can fill the gap between intentions and actual conduct. The implication results of this study indicate that it is necessary to carry out outreach efforts about the health and environmental benefits of consuming organic vegetables to increase subjective norms in society. Respondents’ understanding of the term organic is different from one another, so there are differences in perception in assessing organic vegetables.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":"51 29","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140965513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-17DOI: 10.37394/23207.2024.21.101
Adejumo Dauda A., Chernikov Sergey U., Gbadeyan Rotimi A., Vale Vera T.
The present study focuses on the issues of import substitution practices in Russia and Nigeria that can be useful in the current reality of the world economy. However, the Nigerian economy has great potential for import substitution in the current process of de-globalization. However, it is crucial to use the Russian experience. The study revealed that the comparison of Nigerian and Russian Soft drink markets is an excellent example of the drawbacks that can occur upon realizing protectionism governmental policies. Therefore, the paper recommends for import substitution policy that will promote economic diversification that supports local production and increases exports. The research concludes that import substitution policy can be successfully implemented if it is focused on economic growth and development of Small and Medium Scale Enterprises (SMEs) in the partnering countries.
{"title":"The Import Substitution Practices of Russia as a Model for the Nigerian Soft Drinks Market","authors":"Adejumo Dauda A., Chernikov Sergey U., Gbadeyan Rotimi A., Vale Vera T.","doi":"10.37394/23207.2024.21.101","DOIUrl":"https://doi.org/10.37394/23207.2024.21.101","url":null,"abstract":"The present study focuses on the issues of import substitution practices in Russia and Nigeria that can be useful in the current reality of the world economy. However, the Nigerian economy has great potential for import substitution in the current process of de-globalization. However, it is crucial to use the Russian experience. The study revealed that the comparison of Nigerian and Russian Soft drink markets is an excellent example of the drawbacks that can occur upon realizing protectionism governmental policies. Therefore, the paper recommends for import substitution policy that will promote economic diversification that supports local production and increases exports. The research concludes that import substitution policy can be successfully implemented if it is focused on economic growth and development of Small and Medium Scale Enterprises (SMEs) in the partnering countries.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":"8 30","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140964201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-17DOI: 10.37394/23207.2024.21.102
Ayman Saleh Mustafa Harb, Osama Mohammad Khaleel Ballout, O. F. Shaqqour, Hamza Mohammad Ahmed Khuzamieh
This study aimed to the impact of an external audit on the quality of financial reports with its dimensions (relevance, credibility) in Jordanian insurance companies, The study population consisted of the auditors, whose number is (440), and distributed (209) questionnaires, returned of them (185) questionnaires, and the valid questionnaires for analysis were (169) questionnaires representing a responses rate of (71.9%) of the study sample. Some appropriate statistical methods were used and the statistical program (""SPSS"") was used. The results showed that there is a high level of external audit, and the level of the quality of financial reports was medium. The statistical analysis indicated a statistically significant effect at the significance level (0.05 ≥α) for external audit on the relevance of financial reports of Jordanian insurance companies. This result may be because the audit offices contracted by Jordanian insurance companies seek to examine and evaluate the data, reports, financial statements, administrative activities and processes in these companies objectively, and impartially, to obta. The study recommended that external auditors should continuously participate in training programs and workshops to inform them of all that is new in the audit profession, especially about the insurance sector.
{"title":"The Impact of External Audit on the Quality of Financial Reports in Jordanian Insurance Companies","authors":"Ayman Saleh Mustafa Harb, Osama Mohammad Khaleel Ballout, O. F. Shaqqour, Hamza Mohammad Ahmed Khuzamieh","doi":"10.37394/23207.2024.21.102","DOIUrl":"https://doi.org/10.37394/23207.2024.21.102","url":null,"abstract":"This study aimed to the impact of an external audit on the quality of financial reports with its dimensions (relevance, credibility) in Jordanian insurance companies, The study population consisted of the auditors, whose number is (440), and distributed (209) questionnaires, returned of them (185) questionnaires, and the valid questionnaires for analysis were (169) questionnaires representing a responses rate of (71.9%) of the study sample. Some appropriate statistical methods were used and the statistical program (\"\"SPSS\"\") was used. The results showed that there is a high level of external audit, and the level of the quality of financial reports was medium. The statistical analysis indicated a statistically significant effect at the significance level (0.05 ≥α) for external audit on the relevance of financial reports of Jordanian insurance companies. This result may be because the audit offices contracted by Jordanian insurance companies seek to examine and evaluate the data, reports, financial statements, administrative activities and processes in these companies objectively, and impartially, to obta. The study recommended that external auditors should continuously participate in training programs and workshops to inform them of all that is new in the audit profession, especially about the insurance sector.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":"3 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140963172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-10DOI: 10.37394/23207.2024.21.94
Dennis Wen Wei Ng, Yun Fah Chang, Premagowrie Sivanandan, Wei Shean Ng
This paper introduces a new statistical model, the multidimensional measurement error model with multicollinearity, to study the relationship between buying and selling prices of foreign exchange rates of various currencies. Such a model is needed due to the possible rise in multidimensionality and multicollinearity issues that may occur due to the movement of the financial markets towards stock market integration of various countries since the occurrences of the financial crisis as well as the part result of globalization. As this integration involves the participation of various countries, it will affect the foreign exchange rate. Hence, the analyses are performed on seven currencies against the Malaysian Ringgit where four models’ performances are compared. From this research, it can be concluded that the proposed model comparatively performs better than the other models in representing the relationship of the stationary prices and performs as well as existing models towards non-stationary prices. It can also be seen that the Japanese Yen is the currency that has the strongest influence and closer similar trends towards other currencies while the Great British Pound showed otherwise.
{"title":"Similarity Measures between Buying and Selling Prices of Various Exchange Rates with the inclusion of Multidimensionality and Multicollinearity","authors":"Dennis Wen Wei Ng, Yun Fah Chang, Premagowrie Sivanandan, Wei Shean Ng","doi":"10.37394/23207.2024.21.94","DOIUrl":"https://doi.org/10.37394/23207.2024.21.94","url":null,"abstract":"This paper introduces a new statistical model, the multidimensional measurement error model with multicollinearity, to study the relationship between buying and selling prices of foreign exchange rates of various currencies. Such a model is needed due to the possible rise in multidimensionality and multicollinearity issues that may occur due to the movement of the financial markets towards stock market integration of various countries since the occurrences of the financial crisis as well as the part result of globalization. As this integration involves the participation of various countries, it will affect the foreign exchange rate. Hence, the analyses are performed on seven currencies against the Malaysian Ringgit where four models’ performances are compared. From this research, it can be concluded that the proposed model comparatively performs better than the other models in representing the relationship of the stationary prices and performs as well as existing models towards non-stationary prices. It can also be seen that the Japanese Yen is the currency that has the strongest influence and closer similar trends towards other currencies while the Great British Pound showed otherwise.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":" 105","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140992988","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
During the pandemic, E-marketing was of great importance to enterprises in general. Digitized enterprises or enterprises that have been digitized during the pandemic have managed to develop their work processes without stalling in their development. At the time when everything stopped working, the companies that had already digitized processes within their companies were managing to cope with the situation that had gripped the whole world. The approach of enterprises in the time of the pandemic has greatly influenced the perception and importance of the digitalization of enterprises in the daily work processes. Communication, process management, and employee management have been a key factor in not stalling processes, ie in maintaining the health of employees of those enterprises. As a result of the COVID-19 crisis, the majority of business executives have ordered their organizations to digitize at least a portion of their operations to safeguard workers and cater to clients who are experiencing limited mobility. We have all watched what is undoubtedly going to go down in history as the widespread adoption of digital access to services and remote work, even though many doubters have not recognized this as a viable prospect. Online ordering and delivery have become the primary business of grocery businesses. In many nations, the emphasis in schools is entirely on online education. Plans for "online" supply chains and factories are being actively developed by manufacturers. Although in some regions the masses have started to reopen and businesses are opening, many businesses are still considering digitalization and further development of their internal processes as a priority. Customer satisfaction is one of the greatest assets of any business, including e-business in today's competitive environment. Several factors can help e-businesses to build a base for their customers. It undoubtedly includes service and customer satisfaction which can be the determinants of success.
{"title":"The Impact of E-Marketing on Consumer Satisfaction during Pandemic Time","authors":"Albulena Avdili Zeqiri, Behrije Ramaj Desku, Karolina Ilieska","doi":"10.37394/23207.2024.21.97","DOIUrl":"https://doi.org/10.37394/23207.2024.21.97","url":null,"abstract":"During the pandemic, E-marketing was of great importance to enterprises in general. Digitized enterprises or enterprises that have been digitized during the pandemic have managed to develop their work processes without stalling in their development. At the time when everything stopped working, the companies that had already digitized processes within their companies were managing to cope with the situation that had gripped the whole world. The approach of enterprises in the time of the pandemic has greatly influenced the perception and importance of the digitalization of enterprises in the daily work processes. Communication, process management, and employee management have been a key factor in not stalling processes, ie in maintaining the health of employees of those enterprises. As a result of the COVID-19 crisis, the majority of business executives have ordered their organizations to digitize at least a portion of their operations to safeguard workers and cater to clients who are experiencing limited mobility. We have all watched what is undoubtedly going to go down in history as the widespread adoption of digital access to services and remote work, even though many doubters have not recognized this as a viable prospect. Online ordering and delivery have become the primary business of grocery businesses. In many nations, the emphasis in schools is entirely on online education. Plans for \"online\" supply chains and factories are being actively developed by manufacturers. Although in some regions the masses have started to reopen and businesses are opening, many businesses are still considering digitalization and further development of their internal processes as a priority. Customer satisfaction is one of the greatest assets of any business, including e-business in today's competitive environment. Several factors can help e-businesses to build a base for their customers. It undoubtedly includes service and customer satisfaction which can be the determinants of success.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":" 24","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140991916","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-05-10DOI: 10.37394/23207.2024.21.96
Adeyemo Felicia, Ogunleye Timothy A.
This essay explores the elements that lead to the financial success of entrepreneurs. In particular, it conducted an empirical investigation into the possibility that factors such as age, religious beliefs, risk-taking, marketing strategies, timely and adequate planning, employees’ commitment, accessibility to working capital, reduced bureaucratic steps on import and export matters, education level, and age and technology infrastructure could influence an entrepreneur’s level of success. The study used a descriptive survey research design. The study’s participants were business owners in the six states that make up Nigeria’s southwest region who operated on a micro, small, and medium scale. The 720 entrepreneurs who made up the study’s sample were chosen through a multi-stage sampling process. A self-structured questionnaire covering all the objectives was used as the data collection tool, and it was administered to a select group of entrepreneurs. In addition to applying non-parametric statistical techniques like the chi-squared test and phi statistic, the collected data were analyzed using descriptive statistics like frequencies, percentages, and graphics. In the R-Studio (Posit) environment, the data analysis operations were carried out. The findings showed that a successful entrepreneurship is greatly influenced by a number of factors, including the availability of operating capital, the degree of employee commitment, technological and infrastructural capabilities, risk-taking, effective marketing strategies, adequate and appropriate planning, educational attainment, and age. Success in entrepreneurship, however, is unrelated to fewer bureaucratic procedures involved in the import and export of goods. It was determined that the bulk of the previously mentioned elements affect any business’s ability to succeed in today’s world. Thus, it was suggested that all tiers of government be counselled to provide funding, among other things, to serious business owners.
{"title":"On Some Factors Contributing to Entrepreneurial Economic Success in South-West, Nigeria: An Empirical Approach","authors":"Adeyemo Felicia, Ogunleye Timothy A.","doi":"10.37394/23207.2024.21.96","DOIUrl":"https://doi.org/10.37394/23207.2024.21.96","url":null,"abstract":"This essay explores the elements that lead to the financial success of entrepreneurs. In particular, it conducted an empirical investigation into the possibility that factors such as age, religious beliefs, risk-taking, marketing strategies, timely and adequate planning, employees’ commitment, accessibility to working capital, reduced bureaucratic steps on import and export matters, education level, and age and technology infrastructure could influence an entrepreneur’s level of success. The study used a descriptive survey research design. The study’s participants were business owners in the six states that make up Nigeria’s southwest region who operated on a micro, small, and medium scale. The 720 entrepreneurs who made up the study’s sample were chosen through a multi-stage sampling process. A self-structured questionnaire covering all the objectives was used as the data collection tool, and it was administered to a select group of entrepreneurs. In addition to applying non-parametric statistical techniques like the chi-squared test and phi statistic, the collected data were analyzed using descriptive statistics like frequencies, percentages, and graphics. In the R-Studio (Posit) environment, the data analysis operations were carried out. The findings showed that a successful entrepreneurship is greatly influenced by a number of factors, including the availability of operating capital, the degree of employee commitment, technological and infrastructural capabilities, risk-taking, effective marketing strategies, adequate and appropriate planning, educational attainment, and age. Success in entrepreneurship, however, is unrelated to fewer bureaucratic procedures involved in the import and export of goods. It was determined that the bulk of the previously mentioned elements affect any business’s ability to succeed in today’s world. Thus, it was suggested that all tiers of government be counselled to provide funding, among other things, to serious business owners.","PeriodicalId":510668,"journal":{"name":"WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS","volume":" 100","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140991363","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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