SocioEconomic Challenges (SEC)
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Item Implementation of knowledge economy and innovation through business education(Academic Research and Publishing UG, 2023) Habenko, M.; Койбічук, Віталія Василівна; Koibichuk, Vitaliia Vasylivna; Krawczyk, D.; Майборода, Тетяна Миколаївна; Mayboroda, Tetyana; Самойлікова, Анастасiя Вiкторiвна; Samoilikova, Anastasiia ViktorivnaThe article’s purpose is to analyse the issue of implementation of knowledge economy and innovation through business education based on cluster analysis. The role of knowledge economy, innovation transfer, entrepreneurship and business-education coopetition are grounded to achieve economic growth and sustainable development. Input data withing the distribution of the knowledge economy through business education include a data of 23 countries for the following indicators: new registered enterprises, labour force, employment in industry, proportion of population studying ‘Business, Administration and Law’, proportion of population studying ‘Services’ and proportion of population studying ‘Economics’. Using data normalization, Ward and Sturges methods and Statgraphics Centurion 19 soft five clusters were determined to show hidden dependencies and structure in countries sample in this research context. The first cluster includes 2 countries (Austria and the United Kingdom), the second – 11 countries (Belgium, Portugal, Denmark, Italy, Lithuania, Latvia, Poland, Ukraine, Croatia, Norway, and the Netherlands), the third – 5 countries (Bulgaria, Spain, France, Switzerland, and Finland), the fourth – 3 countries (Estonia, Germany and Sweden), and the fifth – 2 countries (the Czech Republic and Hungary). Due to building dendrogram of distribution on clusters and graph of agglomeration distance the quality of countries distribution into clusters was confirmed. Obtained results can be useful for further research and improving the state innovation, information and educational policy based on positive experience of neighbour countries within certain formed clusterItem Assessment of the readiness and maturity for Industry 4.0 adoption in Indian automobile industries(Academic Research and Publishing UG, 2023) Noor, M.F.; Kumar, A.Purpose: This paper addresses the urgent need to comprehensively assess the preparedness of the Indian automobile industry for adopting Industry 4.0 technologies, a critical imperative for sustaining global competitiveness in one of the world’s largest and fastest-growing automotive sectors. The study introduces the Maturity Assessment and Readiness for Industry 4.0 in the Indian Automobile Industry (MARI-IA) Scale, offering a novel contribution to the scientific discourse on this vital issue.Literature Review: The existing literature review underscores the scarcity of tailored tools specifically designed to evaluate Industry 4.0 readiness in the distinctive context of the Indian automotive industry. Methodology: To bridge this gap, the paper employs a survey methodology involving 55 participants from 14 diverse organisations, spanning original equipment manufacturers (OEMs), supplier industries, and service centers. The chosen research object is these organisations, strategically selected to represent the spectrum of the industry. Utilising the MARI-IA Scale, the study systematically assesses maturity and readiness across five pivotal dimensions: Vision, Machines, Practices, Products, and People. Results: The findings reveal discernible variations in readiness levels, with OEMs exhibiting the highest preparedness, followed by supplier and service industries. Large-scale industries consistently outperform their medium, small, and micro-scale counterparts, indicating a pronounced scale-dependent disparity. Notably, the ‘People’ dimension garnered the highest rating, suggesting an existing readiness for skill enhancement initiatives and heightened customer awareness initiatives. In contrast, the ‘Vision’ dimension is rated the lowest, signalling a pressing need for increased strategic commitment and top management involvement in implementing Industry 4.0 initiatives. Value: The empirical analysis conducted substantiates the relevance and applicability of the MARI-IA Scale in effectively evaluating ndustry 4.0 readiness in the unique context of the Indian automobile industry. Beyond a mere assessment tool, the results of this study carry significant practical implications for stakeholders, offering a roadmap for enhancing Industry 4.0 preparedness and maintaining a competitive edge in the global automotive landscape. This research is a foundational resource for scholars, industry practitioners, and policymakers navigating the dynamic landscape of Industry 4.0 adoption in the Indian automobile sectorIndex constructionItem Internally generated revenue and economic growth in Rivers State, Nigeria(Academic Research and Publishing UG, 2023) Evans, N.; Ikechi, W.P.; Nwigbo, D.M.; Promise, E.This paper summarises the arguments and counterarguments within the scientific discussion on the issue of internally generated revenue and economic growth in Rivers, Nigeria. The main purpose of the research was to investigate the correlation between internally generated revenue and economic growth in Rivers State, Nigeria. Systematisation of the literary sources and approaches for solving the problem indicates that the Rivers State government in Nigeria faces numerous challenges, including insufficient tax information, limited cooperation from taxpayers, negative perceptions about tax revenue utilisation, the complexity of taxes and the tax system, inadequate capacity, and limited training for tax authorities. The immediate restoration of this matter is imperative, making the resolution of this scientific problem highly relevant. In this study, we investigate the internally generated revenue and economic growth in Rivers State, Nigeria, using both ex-post-facto and exploratory research approaches as methodological tools. The data utilised in this study were obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin and the Rivers State Inland Revenue Services (RSIRS) Annual Reports, covering the period from 2010 to 2021. The data were subjected to analysis using the Econometric Model of Linear Regression methods, utilising the SPSS 25 software. The analysis incorporates macroeconomic data pertaining to internally generated revenue and economic growth, specifically represented by the real gross domestic product, for the period spanning from 2010 to 2021. The paper presents the results of an empirical analysis, which revealed a significant correlation between internally generated revenue and economic growth in the state of Rivers. The research findings indicate a statistically significant correlation between internally generated revenue and the economic growth of Rivers State. The study thus proposed that the legislative branch of the state should prioritise the revision of tax laws to align with present economic conditions. Additionally, as the state focuses on exploring strategies to enhance its internally generated revenue (IGR), it should also devote attention to other facets of public finance management that directly affect its ability to not only generate revenue but also effectively allocate it for the betterment of the publicItem Unmasking White Delusion: A Critical Analysis for the Organization(Academic Research and Publishing UG, 2023) Morin, S.L.; Bishop, J.R.The article summarizes the arguments of the social debate regarding white delusion in the organization. This article delves into the phenomenon of white delusion, a term coined by the author, Stacey Morin, which signifies a lack of awareness and denial of systemic racial disparities in marginalized communities. The analysis focuses on Morin’s and Bishop’s conceptualization of white delusion in the organization and the subsequent development of the Unmasking White Delusion: DEI model. This model, grounded in the framework of critical race theory, explores the denial, evaluation, and implementation phases, which aim to address and eliminate white delusion within organizations. The research contributes to the ongoing dialogue surrounding diversity and inclusion and addresses a gap in knowledge. The systematization of literary sources and approaches to solving the problem indicates that the white delusion is harmful to the organization. The urgency of addressing this problem stems from the absence of an inclusive and diverse culture, leading to diminished productivity and innovation. Our research methodology followed a logical sequence, beginning with a systematic literature review that critically analyzed the issue of white delusion within the organizational context. The objective was to unravel its complexities and comprehend how it impedes progress toward a more inclusive and equitable culture. The literature was critically analyzed based on concepts aligned with each phase of the Unmasking White Delusion: DEI model within the overarching framework of critical race theory. We contend that adopting the Unmasking White Delusion DEI model will play a pivotal role in mitigating the adverse effects of white delusion within the organization. The results from our thorough analysis of the literature review spurred the development of the Unmasking White Delusion: DEI model. This model serves as a visual guide and strategic tool for organizations seeking to eradicate white delusion and cultivate a culture of psychological safety for minority employees. By applying this model and integrating the Critical Race Theory framework, organizations can effectively confront white delusion through a comprehensive three-phase approach—denial, evaluation, and implementation. This entails organizations recognizing, assessing, and translating insights into actionable strategies, fostering a more inclusive and equitable workplace. The main conclusions of the research highlight the multifaceted process of eliminating white delusion in the organizationItem The Role of Trust in Open Innovation Collaboration: The Experience of Polish Medium-High-Tech SMEs(Academic Research and Publishing UG, 2023) Runiewicz-Wardyn, M.; Winogradska, B.This paper contributes to an emerging debate on open innovation ecosystems and knowledge sharing in the innovation environment, by sharing insights on the role of trust in open innovation collaboration. Systematization of the state of art literature on the innovation networks show that trust is crucial for improving competition among Polish companies, yet its seems to have not an important place in the innovation environment. The main purpose of the research is to determine the role of personal traits, including trust, in the initiation of the potential open innovation collaboration. The study applies the qualitative survey method and shares up-to-date empirical evidence from Polish high- and high-mid-tech small and medium-sized enterprises (SMEs). The study was conducted using the computer-assisted telephone interviewing (CATI) method, in collaboration with the ARC Rynek i Opinia company, from January to April 2021. The study covers 100 SMEs active in advanced technology industries. The results reflect the opinions of middle- to high level managers. The study findings show that there is a need for a deeper understanding of the factors behind trust-embedded open innovation collaboration, and the perception of open innovation as a win-win game for all the partners. Better understanding of these factors will ensure more effective communication in developing an open innovation environment in Polish SMEs. The study findings also indicate the need for an active role of key stakeholders and intermediary agents in facilitating formal and informal networks stimulating mutual trust, as well as the importance to build the educational system enabling the strengthening of the creativity, and the diffusion of innovationsItem Pricing Strategy and Firms Profitability(Academic Research and Publishing UG, 2023) Tahat, I.This paper summarizes the arguments and counterarguments within the scientific discussion on the issue price decision and its significantly impact on the firm profitability and market competitive position, pricing strategy considered to be fundamental tool for market growth, in today’s extremely competitive market, adopting a pricing plan is essential. In response to the demands of the industry, several pricing models have been developed under the influence of multiples factors (organization and management attitude, product cost structure, industry, and gap between local and target markets). The purpose of this paper is to review the price objectives and price methods that were adopted to set prices as well as their impact on the profitability of the firms. One of the most crucial managerial choices is the definition of the price policy since it has an impact on business profitability and market competitiveness. Despite the essential role that costs play in businesses. The objectives of this research were to develop and evaluate a theoretical model that would illustrate how pricing strategy affects business profitability. This study used the theoretical literature review technique to answer the following question: how product pricing methods impact on firm profitability? though we found that the pricing objectives are a function of pricing formula and methods. More important we found that firms are positively influenced by the value-based pricing strategy and high price, in contras its negatively influenced by the low price, this implies that prices policies affected the profitability of the company hence, this explained the importance of strategic consideration of the pricing, strategies, methods and process must be critically evaluated by management. The research results can be useful as baseline to further develop model that enable firms to quantify the impact of pricing strategiesItem Sharing Economy Business Models (SEBMs): A Study of Global Archetypes and from Local Industries in Georgia(Academic Research and Publishing UG, 2023) Zhghenti, T.This paper discusses the mapping model tools for Sharing Economy Business Models (SEBMs) and summarises the arguments and counterarguments within the scientific discourse. The main purpose of the research is to provide a comprehensive analysis of the SEBMs of local companies, contrasting them with global archetypes as defined by Curtis and Mont (2020). Systematisation of the literary sources and approaches for solving the problem indicates that local companies exhibit unique attributes in their SEBMs when compared to their global counterparts. The relevance of this scientific problem decision is that understanding these differences provides valuable insights into how local contexts and conditions shape SEBMs. Investigation of the SEBMs in the paper is carried out through detailed comparisons with global models. Methodological tools of the research methods were studying the companies’ models by exploring all available information on the web during the year of observation, 2023. The research object is the local companies because they offer insights into how local contexts and conditions shape SEBMs. The paper presents the results of an empirical analysis which reveals differences in areas such as governance model, price mechanism, and revenue streams. The research empirically confirms and theoretically proves that these variations could be attributed to local market conditions, consumer preferences, or strategic choices made by the companies. The research results can be useful for practitioners and academic researchers in the sharing economy, offering insights into local variations in SEBMs and their potential impact on business strategyItem Impact of Oil Exports and Non-Oil Exports on Economic Growth in Saudi Arabia: An Econometric Study Using ARDL Approach(Academic Research and Publishing UG, 2023) Dekkiche, D.; Laila, B.L.; Hadj, K.This study’s primary goal is to examine Saudi Arabia’s performance from 2000 to 2022. In order to accomplish this, the Autoregressive Distributed Lag (ARDL) model was employed along with a limits test. The study’s findings indicate that oil exports impact short-term and long-term outcomes during the specified study period. On the other hand, non-oil exports initially contribute positively to the country’s domestic product in the short term, but this contribution diminishes quickly and becomes negative and statistically insignificant in the long term. As a result, Saudi Arabia is dependent on the export of a single commodity, making it vulnerable to the effects of market volatility on the price of oil. To escape the excessive dependence of Saudi Arabia on oil and encourage non-oil export activities in order to stimulate long-term economic growth, the research recommends expanding into other productive sectors, such as agriculture and industry. These two sectors are vital for economic diversification, to obtain improved growth, and to limit the ramifications of the negative effects caused by international changes in oil prices. It is essential to take this strategy to prevent excessive reliance on this one-of-a-kind resource, this diversification is crucial for promoting exports beyond hydrocarbons and reducing reliance on oil. improve its level of investment in its thriving domestic sectors and take steps to lower the country’s high production costs by constructing infrastructure that would enable the growth of non-oil exports, especially because Saudi Arabia will become a member of the BRICS group of countries beginning in January 2024Item Analysing trends and patterns in retrenchment research: a bibliometric approach(Academic Research and Publishing UG, 2023) Coffie, R.B.; Onyinah, P.In today’s highly competitive business market, the optimization of operational efficiency and expense reduction is crucial for firms to maintain profitability and ensure long-term sustainability. A popular corporate strategy for achieving such goals is retrenchment, which involves shrinking or reorganizing organizational activities. The significance of conducting a bibliometric study on retrenchment lies in its ability to offer valuable insights to scholars, policymakers, and stakeholders interested in retrenchment and implementation and how it impacts employees and organisations. The review further identifies trends and patterns in retrenchment, highlighting significant works, and presenting a comprehensive understanding of it as a corporate strategy. To evaluate the research on labour retrenchment, a document search was conducted using article titles and keywords, analysing published documents and their citations. The data on publications were obtained from the Scopus database for this study. The VOS viewer tool was utilized to visualize the data derived from Scopus, while Harzing’s Publish or Perish programme (Windows GUI Edition) was employed to analyse the citations and performance indicators of the publications. The findings reveal a total of 79 documents published by 177 writers between 1982 and 2023. There is evidence that the sum of publications on retrenchment has been steadily snowballing over time necessitating attention. The study observed a global interest in retrenchment research, with contributions from various countries and across multiple subject areas. The study also examined the top 26 most cited publications on retrenchment, showing variations in citation numbers and rates over time. Keyword co-occurrence network analysis identified significant groupings in retrenchment research. These clusters offer a comprehensive view of retrenchment research which adequately covers a range of themes, including the healthcare industry in the United States, the intersection of retrenchment and healthcare, the psychological effects, economic factors, and ethical implicationsItem Influence of Socio-Economic Factors on Risk Management Strategies among Generation Z in India pertaining to Health: A Post-Pandemic Analysis(Academic Research and Publishing UG, 2023) Jatav, S.; Prakash, G.; Gupta, R.This study aims to examine the factors influencing the adoption of health insurance and buy intention among Generation Z in India during the period after the COVID-19 pandemic. The COVID-19 pandemic has highlighted the significance of healthcare readiness and fiscal stability, hence emphasizing the crucial role of health insurance in the lives of individuals and households. Generation Z, encompassing individuals born approximately from the mid-1990s to the early 2010s, constitutes a noteworthy demographic cohort characterised by distinct inclinations and conduct. This study investigates the demographic features of individuals, their level of knowledge and awareness regarding health insurance, their attitudes towards risk, and the influence of the pandemic on their perceptions. Preliminary data suggest that the Gen Z population in India understands the significance of health insurance. However, some obstacles impede their adoption of such insurance, including a lack of comprehensive knowledge, budgetary limitations, and a tendency to prioritise immediate financial objectives. Moreover, the ongoing global pandemic has significantly impacted individuals’ perception of healthcare risks and financial planning, potentially affecting their inclination to allocate resources towards health insurance investments. This study enhances our comprehension of the changing patterns of health insurance adoption in India, specifically among the youngest cohort, and offers valuable insights for insurers, policymakers, and healthcare providers to customise their offerings and communication approaches in order to effectively address the requirements of Generation Z in the aftermath of the pandemic. In conclusion, promoting the adoption of health insurance among this particular cohort has the potential to enhance financial resilience and facilitate improved access to healthcare for future generations in India