The Effects of the COVID-19 Pandemic on the Hospitality Industry

As the hospitality industry is one of the industries most drastically affected by the COVID-19 pandemic, it is essential that managers of this industry develop effective strategies to reduce the damage of the pandemic and be better prepared for possible future crises. In this respect, this chapter discusses the effects of the COVID-19 pandemic on the hospitality industry and highlights preventive measures, employee support, service innovations, and CSR activities as the key strategic areas for enhancing resilience and recovery of hospitality firms during and even after the COVID-19 pandemic. This chapter also underlines the significance of adopting a holistic stakeholder approach that discusses the effects of the pandemic and proposed strategies from the perspective of multiple stakeholders, as the COVID-19 pandemic has affected them all.

Dimensional Measurement of Validity Item of Market Complexity and Corporate Strategy in the Banking Sector in Indonesia

The company always faces challenges both internally and externally in managing resources and achieving organizational goals. To be able to compete, corporations need to manage the complexity and uncertainty in the market environment by improving management. To date, few studies are available to verify the items required for business, particularly banking as a guide for designing such complexities. In this regard, this study seeks to provide validity items that are useful for the world of corporate banking, in managing the complexities of the external environment and in formulating and implementing strategies. By combining the concept of human resource management, socio-economic factors through a dimensional measurement with a stakeholder approach, the study findings demonstrate several important keys for banks to manage external elements and strategies as a guide to measuring effectiveness that can be used as a basis for further studies.

Multi-Stakeholder Approach in Natural Resources Management: The Case of Mida Creek and Gongoni-Marereni Mangrove Ecosystems in Kilifi County, Kenya

Multi-stakeholder approach has an overall improvement in conservation and management of mangrove forests resources, more so with a functional coordination framework among stakeholders. Mida creek and Gongoni-Marereni sites were compared in terms of the presence of the multi-stakeholders and the level of coordination and cooperation among stakeholders in conservation of mangrove forests. Data was gathered through a semi-structured interview questionnaire from Key Informants from the stakeholders present in the two sites. The data collected captured stakeholder presence on site, participation in mangrove conservation, and coordination and cooperation with others. There was a variation in multi-stakeholder participation in the two sites. Gongoni-Marereni site had less stakeholders compared to Mida creek which had more, with the latter having a greater participation of stakeholders. The Gongoni-Marereni site mangroves were degraded while in Mida creek had healthy mangroves.

Millennials’ Strategic Decision Making Through the Lens of Corporate Social Responsibility and Financial Management

Corporate Social Responsibility (CSR) is the touchstone for millennials when looking at the means for making their world a better place. Higher education’s focus on CSR has allowed millennials to focus their decision-making using a CSR/stakeholder approach to financial management decisions. Millennials’ support for a CSR/stakeholder approach has grown as they have been completing college. The CSR/stakeholder approach has increased partly due to social awareness created by curricula that highlights areas of social and environmental inequality. This CSR/stakeholder approach has recently emerged as a bona fide strategic management option globally. This paper extends CSR research by evaluating millennial financial decisions and the resulting competitive company performance in a widely used business simulation. Proactive university equality initiatives, resulting in curriculum changes, reinforce millennials’ ethos of social and environmental sustainability. As millennials will soon take the reins of industry, the results of their ethos will significantly influence society.

Theoretical and Methodological Aspects of Analyzing the Impact of the Higher Education System on Regional Socio-Economic Development

Aim. The presented study summarizes the results of the analysis of modern approaches to assessing the higher education system in terms of its impact on the social and economic indicators of a region, describing a stakeholder approach to the classification of factors of a university’s influence on regional development.Tasks. The study aims to consider approaches to examining the activities of universities in the context of their impact on the development of a territory; to comparatively analyze social and economic indicators of the constituent entities of the Russian Federation and the education level of the employed population; to update the list of groups of stakeholders of the higher education system and to describe the parameters of university influence on the objects of one of the groups.Methods. This study analyzes the existing approaches of Russian and foreign researchers to assessing the contribution of the higher education system to socio-economic development as well as official statistics on the socio-economic development of the constituent entities of the Russian Federation.Results. A considerable number of diverse factors characterizing the influence of the higher education system on socio-economic development are identified. The authors describe the contribution of universities to the development of human capital, innovative and economic development, social policy and environmental well-being of the region. It is noted that the university’s academic reputation affects the competitiveness of the city and facilitates active international cooperation. A comparison of statistics on the proportion of employees with higher education among the working population (DHE) with various indicators of economic and social development of the constituent entities of the Russian Federation shows that many regions with a more skilled workforce have higher gross regional product (GRP) per capita, higher life expectancy at birth, and lower working-age mortality than regions with low DHE. There are also negative trends in the higher education system, such as the declining number of university teaching staff over the last ten years. A stakeholder approach to the classification of factors of university influence on regional development is proposed. A group of stakeholders of the higher education system defined as “society” is introduced. The parameters of university influence on this group are described.Conclusions. The existing influence of universities on the socio-economic development of territories makes it necessary to put issues related to creating conditions for the optimization of interaction between various groups of stakeholders of the higher education system on the federal and regional agendas.