Effects of innovative finance, strategy, organization and performance: a case study of company

Purpose The aim of the research is to analyze sustainability in energy companies in terms of financial innovation, innovation strategy and organizational innovation. Design/methodology/approach The analysis of this research was done by using the Mplus 7 package program, and the research model was tested using the existing latent variables and their expressions. Data from 298 administrative staff (white collar) working in companies operating in the energy sector were analyzed. Findings Both independent and mediation effects of financial innovation and innovation strategy positively affect sustainability performance. Therefore, it can be concluded that in order for sustainability performance to be positive, importance should be given to financial innovation, innovation strategy and organizational innovation activities. Research limitations/implications As the data were collected from energy companies in this research, it is not correct to generalize the evaluations. Therefore, in terms of the limitations of the research, the sector and sample size should be taken into account in future studies. Originality/value This research conducted in energy companies focuses on the importance of sustainability and has a unique value in the literature as the data is collected and analyzed from white-collar employees.

Ambidextrous Learning in Buyer-supplier Relationships

Achieving competitive advantage in a dynamic environment requires firms to exploit their current capabilities and explore new opportunities through innovation. Organizational learning theory refers to these two types of focused learning activities as exploitation and exploration, and jointly as ambidextrous learning. Suppliers can play an important role in the learning process. This research focuses on the role of strategic and operational information sharing between buyers and suppliers in promoting ambidextrous learning. Based on a survey of supply chain managers in U.S. manufacturing firms, the findings indicate that sharing operational information promotes exploitative performance, while sharing strategic information promotes exploratory performance. Both exploitative and exploratory performance improvements positively relate to the buyer’s financial performance, but these relationships are moderated by the buyer’s product innovation strategy. Exploratory performance is particularly important for firms pursuing a high innovation strategy to maximize financial performance.

Factors influencing Digital Innovation Strategy in Organizations - An Empirical Analysis

Prior research has shown that digitalization is found to deliver a source of investigation for presenting organizations to redesign their business model in order to align their strategy towards digital transformation. This study examines the factors influencing digital innovation strategy in organizations and a model for digital innovation strategy in organizations is also developed . Specifically, drawing on data from 450 respondents, the researchers propose that the following variables: organizational IT application portfolio, organizational culture, organizational structure, organizational dynamic capabilities, leadership and ethics predict innovation and strategy in organizations. The researchers found that organizational culture variable contribution was the highest by collectively predicting 78.1% for digital innovation & strategy in organizations. Overall, this study contributes to the literature by providing a model for developing digital innovation strategy in organizations.

PENGEMBANGAN INOVASI PRODUK BERKELANJUTAN PADA UKM BU ERMA DI JAMBI

An entrepreneur must always innovate, so that the products created can face increasingly tough competitive conditions. The partner who became the venue for the activity was Ms. Erma's SME, which is located in Jambi. From the results of initial online observations, it can be seen that the main problem faced by partners is innovation, there is no partner understanding about the importance of sustainable innovation strategies in doing business. This condition occurs because partners lack knowledge about innovation. So that the products produced by partners are monotonous and less innovative, even many are similar to competitors. The activity method is carried out by socializing or providing training to partners online via Zoom. Submission of materials is presented in the form of PPT related to the innovation strategy. The results of the activity showed that the provision of knowledge about innovation had run smoothly, partners were enthusiastic in listening to the material and discussing with the PKM (Student Creativity Program) Team. Furthermore, through innovation, partners can create products into products that can improve business sustainability.

Heritage as Action Research

This paper intends to weigh the importance of archaeology by how much impact it has, or could have, on society. Heritage values are precisely the language in which that impact translates to the general public. It is necessary, however, to balance the duty to protect heritage with the mutating and negotiated nature of these values. Archaeologists should not be seen as the wardens but rather as the enablers, the midwives, of local communities coming to terms with a deeper understanding of their past. The more effectively this heritage stimulates the relation of the community with these values, the greater the potential it will have to stimulate social innovation, which is the foundation for sustainable development or abandonment. For many the boon of cultural heritage is tourism, and this is true but to an insufficient extent. In order to be sustainable, tourism must be part of a broader social innovation strategy that foregoes easy pickings in favor of the creation of quality brands, employment, and the protection of traditional lifeways. Only in this way can heritage truly unlock a sustainable horizon.

Implementing the Innovation Strategy in International SMEs

Thanks to a relationship of mutual interdependence developed between the formulation of the internationalization strategy and innovation, on a larger scale they are entitled as decisive factors in the process of lasting growth of SMEs. The aim is to study the connections between internationalization, innovation and strategy as well as the results in terms of business competitiveness, covering a relatively consistent gap in terms of knowledge and inconclusive or even diffuse interactions regarding these interactions. In terms of internationalization, innovation and strategy, failure rates are quite high and have correspondingly consistent costs for companies. These are related to implementation details. Assuming there is a poor implementation of internationalization, innovation and strategy and to the extent that firms examine in detail each dimension of their business, they will tolerate an increase in costs. Even in these conditions, contrary to their weight, many SMEs do not have structured processes and protocols for internationalization, innovation and strategy. In entrepreneurial micro-enterprises, which is the main object of research, this aspect is particularly important and real. Identifying the tools used by companies to design the processes of development and implementation of internationalization, innovation and strategy, determinants and causes is very important to identify the main factors with particular impact on business performance and how these effects act or occur.

Innovation strategy as a means of enterprise business management and development in the conditions of globalization

The article describes the features of modern business. The relevance of the study of the relationship between strategy and business management is substantiated. Modern business has a very specific content, focus and implementation model. Despite this, business cannot do without a strategy a specific and clear plan of action in certain market conditions, coordinates of time and space. However, for the application of the chosen strategies to be effective and efficient for the enterprise, firm or company, there is an urgent need to explore the relationship between strategy and business management. One of the ways of effective business management, its development, of course, is the timely and professional application of a list of strategies according to the situation formed in the market and within the enterprise in the context of globalization of economic processes. The article presents modern interpretations of the concepts «strategy», «strategic management», «business», «competitive potential of business», «innovation strategy». A generalized classification of strategies used in practice for effective business management and development is described. The potential opportunities of the innovation strategy for the formation of competitive advantages of business in the context of globalization are identified. Strategic innovative measures to ensure the competitiveness of enterprises are presented. An analog model of ensuring the competitive potential of business through the implementation of innovation strategy in the context of globalization of the state economy has been formalized. It is the innovation strategy that is the system of sub-strategies for all levels of the strategic set of the enterprise focused on the innovative development of the business organization and meeting the needs of its potential customers. And as a cognitive tool for adaptive behavior of the enterprise in the external environment, it is focused on solving problems of unsatisfactory situations in change management. It can be interpreted as a set of methods of competition and doing business, which chooses the management of the enterprise to ensure the competitiveness and future profitability of the chosen type of business. Areas of further research are recommended. These include: analysis of the impact of strategies on the business management process, assessment of the effectiveness of the use of strategies for effective business management and selection of priority strategies for effective business management

The Impact of Digital and Green Innovation Strategy on Citizen Trust Towards Sustainable Financial Performance of Local Government

The unit of analysis in this study is local government data from Indonesia. The goal of this research is to identify the impact of fiscal stress and citizen trust on digital and green innovation strategies. This study also seeks to as certain the impact of digital and green innovation strategies on the impact of fiscal stress and citizen trust on sustainable financial performance. This research uses a descriptive verification method in conjunction with a quantitative approach. Path analysis is an analytical method used in the processing of statistical data. The research samples in this study are 148 Regional Apparatus Organizations (OPD) from East Java Province. The tests showed that fiscal pressure and citizen trust have a significant impact on digital and green innovation strategies. The test results also show that fiscal stress and digital and green innovation strategies have a significant effect on sustainable financial performance, whereas citizen trust has no significant effect on sustainable financial performance. Simultaneously, digital and green innovation strategy are critical for mitigating the impact of fiscal stress and increasing citizens' trust sustainable financial performance.

Factors affecting the adoption extent of the balanced scorecard by Vietnamese small- and medium-sized enterprises

Purpose This study empirically examines factors affecting the extent of balanced scorecard (BSC) adoption in Vietnamese small- and medium-sized enterprises (SMEs) such as top management involvement, an innovative culture, a product innovation strategy, organisational resources, a competitive environment and business network support. This study aims to gain an improved understanding and draw important lessons on BSC adoption for SMEs. Design/methodology/approach Using primary data obtained from a survey of top managers of SMEs that have experienced some forms of BSC adoption, the authors conduct their analysis using exploratory factor analysis and regression analysis methods. Findings The authors find that top management involvement, an innovative culture, organisational resources and business network support are essential factors impacting the extent of BSC adoption in Vietnamese SMEs. Besides confirming literature findings on these variables, the authors identify support of business networks as another important factor affecting the extent of BSC adoption, alongside location and business owners’ experience. However, the impacts of a product innovation strategy and a competitive environment are not significant. Research limitations/implications This study adapts scales previously designed for large enterprises in developed countries to fit into the context of Vietnamese SMEs. Future research can take advantage of this new set of scales and data to obtain further research results. Practical implications This study will serve as guidance for SMEs considering BSC adoption to have a clear vision of what factors are likely to affect BSC adoption, how they affect it and in what direction. Social implications Lessons learned can be extended not only to Vietnamese SMEs that have not yet adopted the BSC but also to firms in other countries with similar economic conditions. Originality/value This study is among pioneering studies on BSC in SMEs and within the context of Vietnam.