scholarly journals Institutional Aspects of Risk Strategic Management in Azerbaijan Hospitality Sector

2020 ◽  
Vol 12 (4) ◽  
pp. 126-137
Author(s):  
Nuray Rauf Rza-Zadeh ◽  
◽  
Marek Dvořák ◽  
Keyword(s):  
Risk Management ◽  
Strategic Management ◽  
Information And Communication Technologies ◽  
Business Processes ◽  
External Environment ◽  
Business Environment ◽  
Starting Point ◽  
Hospitality Sector ◽  
Institutional Aspects ◽  
The Impact

Nowadays, in the 21st century that is distinguished by the high penetration of information and communication technologies, interconnectedness and globalization, the effectiveness of institutions is increasingly manifesting the pressing need to clearly define and assess the prospects and directions of business development, taking into account the likelihood and the occurrence of the objective and subjective risks. This is happening mostly due to the growing volatility of the macroeconomic environment, increased competition, and the rapid globalization of various business processes and solutions. Taking this into account, one can see that the risk of the management process of the hospitality industry represents a complex multi-level procedure. The starting point of the whole risk management system is their forecasting which becomes the most effective way to prepare management decisions in hotel enterprises for the future. This paper focuses on the institutional aspects of risk strategic management in Azerbaijan hospitality sector related to legal, organizational, and cultural characteristics of development. The aim of this study is to identify the major institutional aspects of risk factors of the external environment as well as to realistically assess the changes in the impact of these factors on the activities of hotel enterprises and the hospitality sector of Azerbaijan for the nearest future based on the expert risk forecasting method. Moreover, the paper aims at updating the strategy of hotel development taking into account the changes in the external environment and to link these risks to the business processes taking place in hotel enterprises and in the hospitality sector. We analyze and describe the most important factors and sources of threats to hotel enterprises of Azerbaijan, such as the probability of new competitors, increasing competitive pressure, imperfect business environment in the country, increase in airline tariffs, changing customer needs and tastes, and maintaining a visa regime with many countries. Our results propose some organizational and economic mechanisms for risk management in the hospitality sector.

Mathematical models forecasting the transformation of the tax path of large russian companies

2019 ◽  
Vol 5 (3) ◽  
pp. 193-203
Author(s):  
Kristina A. Bannova ◽  
Nurken E. Aktaev ◽  
Yulia G. Tyurina
Keyword(s):  
Information And Communication Technologies ◽  
Business Processes ◽  
Digital Economy ◽  
The State ◽  
Russian Society ◽  
Financial Flows ◽  
Business Entities ◽  
Object Of Study ◽  
Tax Changes ◽  
The Impact

Digital technologies have changed the relationship between the society and business entities, taxpayers and the state. Ceteris paribus, the ability to effectively manage financial flows and make administrative decisions depends on the correct and established interaction between the state and taxpayers. This study aims to form and develop a taxpayer’s understanding of the digital age with all its features and opportunities for information and communication technologies, including mathematical modeling methods that form the basis of the digital economy for building and sustaining business development, improving the systemic vision of business processes. The research hypothesis is that the further development of economic entities management in the digital context, as well as the coordination of these entities’ interests, is possible only in the partnership of the key economic participants, with the taxpayer at the forefront. That will allow identifying the areas for improving tax trajectories. Using polynomial approximation, the authors have obtained the models of tax trajectories of companies that allow predicting tax burden. The data for approximations are obtained using the previously constructed mathematical model of the optimal tax path. The main input data of the model are fixed assets and human resources, the totality of which form the production function. The analysis of the transformation of tax paths shows ways for achieving a balance of interests between both the state and the taxpayers. Finding this balance will help to overcome the crisis of confidence in the authorities, the development of adaptability and creativity of Russian society to new tax changes. A number of parameters determines the scale of this task. They include the complexity of the object of study, the long-term and multi-aspect nature of the impact which modeling the digital economy has on adaptation to the new digital realities of the state and taxpayers, as well as the absence of significant analogues of the solution to this problem in global and Russian economics.

Designing a Virtual Enterprise Architecture using Structured System Dynamics

2006 ◽  
Vol 25 (1) ◽  
pp. 13-29
Author(s):  
Nikitas A. Assimakopoulos ◽  
Anastasios N. Riggas
Keyword(s):  
System Dynamics ◽  
Enterprise Architecture ◽  
Business Processes ◽  
Core Competencies ◽  
Virtual Enterprise ◽  
Business Goals ◽  
Starting Point ◽  
Efficient Integration ◽  
Structured System ◽  
The Impact

The starting point for establishing a Virtual Enterprise is a set of existing enterprises which might contribute with some of their functionalities (core competencies) to the formation of the virtual entity. The most important issue, in this formation, is the rapid integration of the business processes of the participating companies. The architecture of the VE must assist companies desiring to enter into a virtual relationship by defining the functions and interfaces of critical business processes, thus allowing for a more rapid and efficient integration of the expertise which will be contributed by each partner in the virtual enterprise. While the integration of computer and communication technologies are no doubt critical issues, the successful attainment of the business goals of the virtual enterprise often depends on its ability to align the business processes and practices of partner enterprises. Focus of this paper, is the presentation of Structured System Dynamics (SSPS) multi-methodology for the design and the evaluation of a Virtual Enterprise Architecture. SSPS uses Systems Thinking and System Dynamics principles as launch pad for its approach. The Systemic Methodologies of Problem Structuring Methodology (PSM) and SAST are also integrated in this new Multi-Methodology. SSPS is a new practical and scientific tool in designing and evaluating a VE architecture providing the ability to determine the impact, reliability, success of the Architectures' models created, refine them and identify potential process improvements. A framework for the rapid and efficient integration of the business processes of the participating companies in the virtual enterprise is provided. For this multi-methodology, a real-life application is also presented for a Virtual Enterprise that constructs Wireless Payment Mechanisms.

scholarly journals Strategic company management in the digital business environment

2018 ◽  
Vol 26 (3-4) ◽  
pp. 82-91
Author(s):  
Mykola Gennadiyovych Nikolaev
Keyword(s):  
Strategic Management ◽  
Industrial Revolution ◽  
Design Method ◽  
Business Environment ◽  
Future Research ◽  
Digital Environment ◽  
Doing Business ◽  
Analysis And Synthesis ◽  
Modern Business ◽  
The Impact

Purpose – to analyze strategic company management in the digital business environment. Design/Method/Approach. General scientific methods are applied: systematization, comparison, generalization, analysis, and synthesis. Findings. The essence of strategic management and its significance to a company has been analyzed. The relationship between strategic company management and digital business environment has been elucidated. Basic trends for doing business in the digital environment have been defined. Theoretical implications. Theoretical significance of the research is in the advancement of opinion on the strategic company management in digital business environment. Practical implications. The practical value of the research is in the possibility of applying the results obtained by both international and domestic companies for strategic management in the digital business environment that emerged as a result of the Fourth industrial revolution. Originality/Value. The main trends of modern business in the digital environment have been identified. The choice of strategies of multinational companies has been identified, as well as the areas of their application in digital business environment. Research limitations/Future research. The prospects for further research are to study the strategic management of international companies and analyze the impact of digital business environment on their development. Paper type – theoretical.

Strategic Information Systems in Arab Organizations

2019 ◽  
pp. 197-210
Author(s):  
Ahmad Fayez Albadri
Keyword(s):  
Information Systems ◽  
Business Performance ◽  
Business Processes ◽  
Common Factor ◽  
Business Environment ◽  
Strategic Information ◽  
Strategic Information Systems ◽  
Lack Of Fit ◽  
Business Functions ◽  
The Impact

Organizations are increasingly dependent on information systems, and they invest dearly on systems to integrate disparate business functions, automate business processes, and support operations in order to sustain business and survive in a competition-intensive business environment. However, such systems have in many occasions failed fully or partially. The lack of “fit-to purpose” seems to be the common factor among most of the failed cases. This suggests that such systems are not selected, implemented, configured, or supported based on a proper analysis and understanding of the organization structure and hierarchy, business functions, business processes, and business environment. Evidently, the majority of organizations tend to emphasize system specifications that match their operational and tactical requirements, with little attention given to strategic requirements, culminating in issues with strategic planning and decision making. This chapter uses a survey and simple model based on the characteristics and competitiveness indicators of strategic information systems (SIS) to examine the impact of such systems on the business performance in 16 medium to large Arab organizations. The study concludes with an emphasis of the importance of SIS to help organizations achieve excellence and competitive advantage and realize business objectives and goals.

Quantitative Risk Management Models for Newsvendor Supply Chains

2011 ◽  
pp. 155-170
Author(s):  
Dimitrios Vlachos
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chains ◽  
Stochastic Environment ◽  
Supply Chain Disruptions ◽  
Supply Chain Networks ◽  
Starting Point ◽  
The Impact ◽  
A Company

As the practices of offshoring and outsourcing force the supply chain networks to keep on expanding geographically in the globalised environment, the logistics processes are becoming more exposed to risk and disruptions. Thus, modern supply chains seem to be more vulnerable than ever. It is clear that efficient logistics risk and security management emerges as an issue of pivotal importance in such competitive, demanding and stochastic environment and is thus vital for the viability and profitability of a company. In this context, this chapter focuses on a set of stochastic quantitative models that study the impact of one or more supply chain disruptions on optimal determination of single period inventory control policies. The purpose of this research is to provide a critical review of state-of-the-art methodologies to be used as a starting point for further research efforts.

Risk disclosure and risk governance characteristics: evidence from a developing economy

2020 ◽  
Vol 28 (4) ◽  
pp. 577-605 ◽  
Author(s):  
Shamsun Nahar ◽  
Mohammad Istiaq Azim ◽  
Md Moazzem Hossain
Keyword(s):  
Risk Management ◽  
Developed Countries ◽  
Business Environment ◽  
International Standards ◽  
Risk Governance ◽  
Developing Economy ◽  
Risk Disclosure ◽  
Content Type ◽  
Governance Practices ◽  
The Impact

Purpose The purpose of this paper is to explore to what extent risk disclosure is associated with banks’ governance characteristics. The research also focuses on how the business environment and culture may create a bank’s awareness of risk management and its disclosure. This study is conducted in a setting where banks are not mandated to follow international standards for their risk disclosures. Design/methodology/approach Using 300 bank-year observations comprising hand-collected private commercial bank data, the study uses regression analysis to investigate the influence of risk governance characteristics on risk disclosure. Findings This paper reports a positive relationship between risk disclosure and banks’ governance characteristics, such as the presence of various risk committees and a risk management unit. Practical implications Because studies are lacking on risk disclosure and risk governance conducted in developing countries, it is expected that this research will make a significant contribution to the literature and provide a foundation for further research in this field. Social implications This study complements the corporate governance literature, more specifically the risk governance literature, by incorporating agency theory, institutional theory and proprietary cost theory to provide robust evidence of the impact of risk governance practices in the context of a developing economy. Originality/value Previous studies on risk disclosure and governance determinants primarily involve developed countries. This paper’s contribution is to examine risk disclosure and risk governance characteristics in a developing country in which reporting according to international standards is effectively voluntary.

Investigating the Impact of Research and Development Strategy on Firm Performance

2011 ◽  
Vol 495 ◽  
pp. 306-309 ◽  
Author(s):  
Panagiotis Trivellas
Keyword(s):  
Firm Performance ◽  
Research And Development ◽  
Competitive Advantage ◽  
Development Strategy ◽  
Dominant Role ◽  
External Environment ◽  
Business Environment ◽  
Organizational Size ◽  
Market Shares ◽  
The Impact

This paper examines the influence of Research and Development (R&D) strategy on firm performance controlling for external environment. In this turbulent era, several firms build their competitive advantage on their innovation competence investing on R&D. Drawing upon a sample of 248 firms located in Greece, a structured questionnaire was developed to measure R&D strategy, external environment (dynamism, complexity, munificence, technological) and firm performance (financial, market, innovation, growth and organizational). The importance of R&D strategy in explaining the variance of all performance dimensions is confirmed with innovation performance playing a dominant role. Results indicate that R&D strategy is the most crucial antecedent of firm performance, controlling for business environment. Among environmental dimensions, only dynamism exerts statistical significant relationships. Regarding organizational size, larger firms possess a competitive advantage in the market, enjoying dominant market shares, while smaller firms exhibit supremacy regarding their innovative behavior.

scholarly journals Information systems environmental alignment and business performance: A case study

2005 ◽  
Vol 36 (4) ◽  
pp. 33-53 ◽  
Author(s):  
A. K. Garg ◽  
R. J.O. Joubert ◽  
R. Pellissier
Keyword(s):  
South Africa ◽  
Information Systems ◽  
Business Performance ◽  
Banking Sector ◽  
External Environment ◽  
Environmental Uncertainty ◽  
Business Environment ◽  
Is Strategy ◽  
Alignment Model ◽  
The Impact

The studies to establish the relationship between the external environment and business performance have not produced any conclusive results. Moreover, the field combining environmental uncertainty, information systems (IS) strategy and business performance has not been well explored. Considering the gap in current research, this study conceptualises an information systems environmental alignment model. The model analysed the extent of support provided by IS strategy in the assessment of environmental uncertainty and also examined the impact of IS environmental alignment on business performance. Based on empirical data collected by means of a questionnaire from 22 commercial banks in South Africa (covering more than 90% of the commercial banking sector) and using the Partial Least Squares (PLS) technique, the study validated the IS environmental alignment model and found that banks were using IS support to assess the external environment of business. The results suggest that it is not the IS support or investment in information technology (IT) that impacts on business performance, but rather the effective use of IS support in meeting the information needs of the organisation. The study also found that profitability still remains the key measure of business performance in the banking sector in South Africa. These findings have major implications for IT investment by banks, and for the implementation of IS strategy and general investment in the banking sector. IS environmental alignment is becoming extremely important for business because of the substantial investment in IT and the uncertainty of the business environment.

Current Features of Strategy Construction

2015 ◽  
Vol 3 (4) ◽  
pp. 53-60 ◽  
Author(s):  
Гераськина ◽  
A. Geraskina
Keyword(s):  
Strategic Management ◽  
Swot Analysis ◽  
External Environment ◽  
Business Environment ◽  
Value Chains ◽  
Strategy Formulation ◽  
Resource Based View ◽  
Potential Partner ◽  
Potential Competitor ◽  
Strategy Construction

This article shows the main criteria of strategy’s efficiency. The most effective methods of strategy constructing, the ways to achieve goals and the main features of strategy formulation in modern conditions are presented. The basic disadvantages of traditional models of strategy formulation are shown: extrapolation the company’s performance over experience other organizations, resource-based view on strategic management, value chains, and the 3C’s model. Key features of current business environment are presented from the perspective of strategic management. The research develops the model of identifying direct competitor, possible and potential competitor, producer of substitute products, potential partner, and customers. The methods to evaluate their impact on the organization’s activities in the environment are presented. The basic disadvantages of the SWOT-analysis in the assessment of the external environment of organization on the basis of this model are shown.

The Role of Electronic Business in the Reengeneering and Integration of Business Processes

2017 ◽  
Vol 55 (4) ◽  
pp. 539-560
Author(s):  
Slavoljub Milovanović ◽  
Tanja Janaćković ◽  
Jovica Stanković
Keyword(s):  
Enterprise Resource Planning ◽  
Information Technologies ◽  
Business Processes ◽  
Resource Planning ◽  
Business Environment ◽  
Customer Relationship ◽  
Planning System ◽  
Business Practices ◽  
Electronic Business ◽  
The Impact

AbstractElectronic business leads to the reengineering of business processes in a company, which encompasses integrating processes through customer relationship management, supply chain management, and an enterprise resource planning system. The aim of the paper is to analyse the impact of electronic business on enterprise transformation through reengineering and integration of business processes. The significance of the research is to emphasise management problems and challenges encountered by companies due to electronic business and application of information technologies. The research applies an analytical method to examine the effects of electronic business on business processes. The main contribution of the research is to look at electronic business as an initiator and the cause of radical changes in business processes characterised as reengineering. By transforming their business practices into electronic business, companies make significant efforts in their restructuring in order to deal with the changes in the competitive environment. The basis of these efforts is a redesign and change of business processes. The conclusion is that introducing the Internet and Web-technologies in business does not require only a radical reengineering of existing basic business processes but also generation of new ones, which would support the new business environment.

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