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Book part
Publication date: 16 January 2024

Soniya Billore

The pandemic had a huge negative impact globally on small and micro firms, particularly on cultural enterprises, making it imperative for them to create strategic solutions for…

Abstract

The pandemic had a huge negative impact globally on small and micro firms, particularly on cultural enterprises, making it imperative for them to create strategic solutions for sustainable business models and customer relationships. This chapter studies the digital interventions employed by the micro cultural enterprises in the Japanese Onsens (Hot baths) sector during the pandemic period in Japan. Using the theoretical lenses of service dominant logic and value creation, the study extracts four prominent value creation processes from the analysis of the employed secondary data. The study underlines the importance of collaboration between a firm's internal and external resources, their creative use of operant resources, and a robust customer orientation leading to creative digitalization. The results of the study show how cultural enterprises can rethink customer service in the cultural and creative sector. It also draws attention to the need for more robust policies and support systems that can encourage global cultural enterprises to develop sustainable business models.

Details

Tourism Planning and Destination Marketing, 2nd Edition
Type: Book
ISBN: 978-1-80455-888-1

Keywords

Article
Publication date: 11 January 2024

Christine R. Martell

Inflation and federal monetary efforts to control it with interest rate hikes have very real and overwhelmingly negative consequences on US local governments following the onset…

Abstract

Purpose

Inflation and federal monetary efforts to control it with interest rate hikes have very real and overwhelmingly negative consequences on US local governments following the onset of COVID-19. This study explores the post-pandemic inflationary environment of US local governments; examines the impacts of inflation and high interest rates on local government revenue, operating costs, capital costs, and debt service; reviews local government inflation management strategies, including the use of intergovernmental revenue; and assesses ongoing threats to local government financial health and financial resilience.

Design/methodology/approach

This study uses trend and literature analysis to comment on current issues local governments face.

Findings

The study finds that the growth of property values and resulting stability of property tax revenue has been important to local government revenues; that local governments bear very real burdens as operating and capital costs increase; and that the combination of high inflation and interest rates affects local government debt issuance by negatively affecting credit quality and interest costs, leading to municipal market contraction. Local governments have benefitted tremendously from intergovernmental revenue, but would be ill-advised to rely on it.

Practical implications

Vulnerabilities owing from revenue mismatch with the economy; inadequate affordable housing, inequality, and social issues; a changing workforce and tight labor market; climate change; and federal fiscal contraction—all of which are exacerbated by high inflation and interest rates—require local governments to act strategically, boldly and collaboratively to achieve fiscal health and financial resilience, and to realize positive returns of investments in people and capital.

Originality/value

This work is unique in addressing the post-pandemic impact of inflation and interest rates on local governments.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1096-3367

Keywords

Case study
Publication date: 8 August 2023

Halimah Nasibah Ahmad, Noor Afza Amran and Darwina Arshad

The interviews were conducted with the respondents (the founder and Manager of De Cyber Hotel). Other data were obtained through the websites of the relevant businesses.

Abstract

Research methodology

The interviews were conducted with the respondents (the founder and Manager of De Cyber Hotel). Other data were obtained through the websites of the relevant businesses.

Case overview/synopsis

Siti Alia and her friends established De Cyber Hotel in January 2019. It was incorporated as a Malaysian private limited company in Cyberjaya, Selangor. Siti Alia was appointed as the hotel manager and was responsible for managing the hotel’s day-to-day operations and financial matters. Being a new budget hotel, competing with other established hotels was quite difficult. De Cyber Hotel used brochures and word-of-mouth for its promotion activities and mainly depended on walk-in guests. Siti Alia knew she had to take immediate action to ensure the hotel’s survival and could no longer rely on walk-in guests. Hence, to increase the occupancy and revenue rate, on 27 March 2019, De Cyber Hotel management decided to accept an offer from ABC Digital Booking to implement a digital booking mechanism and form a partnership for at least a year. ABC Digital Booking provided an online system to enable the listing and booking of budget accommodations and partnered with hotels to provide similar guest experiences across countries. After working and collaborating for 10 months with ABC Digital Booking, Siti Alia had to decide whether De Cyber Hotel should continue its alliance with ABC Digital Booking. Hence, she had to think thoroughly and consider the advantages and disadvantages, as well as the impact of her decision on the business.

Complexity academic level

Undergraduate Integrated Case Studies, Seminar in Management, Risk Management and Corporate Governance, Management Accounting, Financial Accounting, Strategic Management. Postgraduate Organizational Behaviour, Management Accounting and Controls, Strategic Management Accounting, Marketing Management, Hospitality Strategic Management, Entrepreneurship Development.

Details

The CASE Journal, vol. 20 no. 1
Type: Case Study
ISSN: 1544-9106

Keywords

Article
Publication date: 22 March 2024

Abdulla Al-Towfiq Hasan and Rukaya Aziz

The purpose of this paper is to develop the theory of environmentally responsible behavior by extending the theory of planned behavior to empirically examine waste reduction…

Abstract

Purpose

The purpose of this paper is to develop the theory of environmentally responsible behavior by extending the theory of planned behavior to empirically examine waste reduction behaviors among young coastal tourists in Bangladesh.

Design/methodology/approach

Through review of literature, in-depth interviews and survey, the study is conducted. Initial survey collects 355 data, which is used for exploratory factor analysis to develop constructs and its measurement items. After preparing the formal survey questionnaires, another survey is conducted and collected 403 usable responses. The subsequent valid responses are used for confirmatory factor analysis through structural equation modeling, using Smart PLS 3.3.3.

Findings

The results of this study reveal that waste reduction behavior is significantly affected by waste reduction intention, and then subsequently waste reduction intention is significantly affected by environmental concern, climate change concern and healthy environmental norms of young coastal tourists in Bangladesh.

Practical implications

The findings of the study will benefit industry operators and policymakers by understanding the factors that are crucial for influencing young costal tourists’ environmentally responsible behaviors (i.e. waste reduction behaviors). Eventually, the findings may assist industry operators and policymakers to develop strategies to attract more young tourists to the coastal tourist destinations in Bangladesh.

Originality/value

The importance of environmentally responsible behavior has received a significant attention in present decade. Consistent with this phenomenon, this study uniquely develops the theory of environmentally responsible behavior and establishes the link between environmental concern, climate change concern, healthy environmental norms, waste reduction intention and waste reduction behavior in coastal tourism domain in Bangladesh.

Details

European Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0955-534X

Keywords

Abstract

Details

Urban Resilience: Lessons on Urban Environmental Planning from Turkey
Type: Book
ISBN: 978-1-83549-617-6

Article
Publication date: 4 December 2023

Simone Alves Monteiro da Franca, Rodrigo Nunes Cavalcanti, Marta S. Madruga, Deyse Alves Pereira, Cristiani Viegas Brandão Grisi, Marciane Magnani, Geany Targino de Souza Pedrosa and Carolina Lima Cavalcanti de Albuquerque

The objective of this study was to evaluate the technical-economic process efficiency of obtaining simultaneous lipo-soluble (LSF) and water-soluble (WSF) fractions from annatto…

Abstract

Purpose

The objective of this study was to evaluate the technical-economic process efficiency of obtaining simultaneous lipo-soluble (LSF) and water-soluble (WSF) fractions from annatto seeds.

Design/methodology/approach

The batches of annatto seeds were submitted to the refrigerated solid-liquid extraction process in four stages: pre-extraction, aqueous extraction, separation by decantation and filtration. After that, LSF and WSF from annatto seeds were obtained. The process efficiency and the quality of LSF and WSF were analyzed in terms of average yield and bioactive compounds (bixin, norbixin, phenolics and flavonoids) and their antioxidant and antimicrobial activities. Furthermore, they were economically evaluated in terms of costs of manufacturing and profitability parameters.

Findings

The process was efficient in terms of overall average yield (LSF = 8.68% and WSF = 2.76%) (w/w) and in terms of quality, mainly with higher average yields of bixin (82.34% in LSF) and norbixin (29.59% in WSF) (w/w). The concentration of bioactive compounds in the fractions promoted an increase in inhibiting free radicals (DPPH* and ABTS*+) and in the ferric-reducing power (FRAP). LSF showed a minimum inhibitory concentration of 0.06 mg mL-1 for S. aureus and 0.13 mg mL-1 for S. Typhimurium and S. Enteritidis. The lowest manufacturing costs were obtained for the LSF due to its higher extraction yield compared to the WSF. Plants on an industrial scale of 100 and 1000 L were considered economically viable, with a return on investment of 5 and 2 years.

Originality/value

Thus, fractions (WSF and LSF) can be applied as natural additives, as sources of bioactive compounds for nutraceutical and/or pharmaceutical, and in the development of other innovative processes. These results have practical applicability for pharmaceutical and food industry.

Highlights

 

  1. Green processing of annatto seeds obtains fractions rich in antioxidant compounds.

  2. Efficiently presents a high yield of bixin and other bioactive compounds.

  3. Effective in concentrating compounds that inhibit microbial growth.

  4. Fractions are more accessible sources of bioactive compounds for isolation.

  5. Cost of manufacturing (COM) and profitability are studied.

Green processing of annatto seeds obtains fractions rich in antioxidant compounds.

Efficiently presents a high yield of bixin and other bioactive compounds.

Effective in concentrating compounds that inhibit microbial growth.

Fractions are more accessible sources of bioactive compounds for isolation.

Cost of manufacturing (COM) and profitability are studied.

Details

British Food Journal, vol. 126 no. 3
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 12 January 2024

Li Huang, Xi Song, Matthew Tingchi Liu, Wen-yu Chang and Guicheng James Shi

The purpose of this study is to provide a nuanced understanding of the marketing placebo effect (MPE) of products with reduced sugar labeling and how it forms certain perceptual…

Abstract

Purpose

The purpose of this study is to provide a nuanced understanding of the marketing placebo effect (MPE) of products with reduced sugar labeling and how it forms certain perceptual underpins (perceived healthiness (PH) and perceived tastiness (PT)), with the potential effect of product category and social class in consideration.

Design/methodology/approach

The proposed model is tested using a sample of 822 participants by employing partial least squares structural equation modeling (PLS-SEM). Hypothetical relationships among MPE, PH, PT, purchase intention (PI) and social class are examined for both hedonic and utilitarian products.

Findings

The results highlight the positive role of MPE in leveraging consumer PI through the parallel mediation of PH and PT. The positive effect of MPE on PH and PT was more pronounced for the utilitarian product. In addition, social class negatively moderated the relationship between PH and PI only in the case of the utilitarian product.

Originality/value

This paper contributed to the MPE literature in the food industry by challenging the conventional intuition of “Unhealthy = Tasty” and highlighting the potential of perceived food healthiness to positively influence perceived food tastiness under the effect of MPE. An upper social class would attenuate the positive effect of perceived food healthiness on PI.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

Case study
Publication date: 2 August 2023

Amrinder Singh, Tarun Kumar Soni and Soumik Bhusan

This case study has been prepared after thoroughly studying the Indian wine industry. Secondary data for the value of wine imported in India has been taken from the website of the…

Abstract

Research methodology

This case study has been prepared after thoroughly studying the Indian wine industry. Secondary data for the value of wine imported in India has been taken from the website of the Ministry of Commerce and Industry, Government of India. Data for GDP per capita for India has been taken from World Development Indicators, World Bank. Data for revenue generation of top five countries have been sourced from Statista Report on Indian wine market. Fictitious names are used for the Winery (Romaniszyn) and the individual (Harish G.) working there.

Case overview/synopsis

This case revolves around accounting complexities for starting a winery in India. A new vineyard comes with the challenge of the gestation period (five years), during which it would not generate revenue. Harish G. was adept at business development and had experience working with an Italian winery. He was unaware of how difficult accounting decisions would be, including determining the quantum of funds required, ascertaining different financial options to purchase assets and meeting cash requirements. He knew he would not be able to generate any sales for five years at the newly formed winery; the grapevines imported from New Zealand took that long to reach maturity. Furthermore, given that Harish was starting a new brand of wine, he also faced constraints with attracting new customers.

Complexity academic level

This case can be used in teaching undergraduate and postgraduate students in the introductory session of a financial accounting course. It is designed to approach basic accounting concepts, permitting the class to discuss and focus on the principal thought process of starting a real business and accounting for the transactions as and when they occur rather than only on mathematical computations. The objective of this case study is attained by involving the students in recording various accounting transactions and decisions the winery’s management must take over the time from early plantation to bottling of the wine. Every decision assesses the students’ comprehension of accounting concepts by making them analyze and resolve the accounting issues raised.

Details

The CASE Journal, vol. 20 no. 2
Type: Case Study
ISSN: 1544-9106

Keywords

Book part
Publication date: 26 March 2024

Ekrem Tufan, Merve Aycan and Bahattin Hamarat

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this…

Abstract

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this includes the resources that the person has already invested. This is called sunk cost bias in the behavioural economics literature. On the other hand, mental practices could lead to the mental accounting bias, where people allocate a different value to a fixed amount of money, depending on circumstances.

Purpose: In this chapter, both biases mental accounting and sunk cost are investigated for the tourism industry in Turkey.

Methodology: The topic is researched through scenario-based questions and the Chi-square Automatic Interaction Detector (CHAID) method is applied.

Findings: As a result, it could be reported that people, regardless of gender, fall into sunk cost and mental accounting biases in decisions relating to their vacations. Mental accounting biases can be primarily explained using the scenario questions posed rather than gender, education, and income while sunk cost bias is explained by status, ‘being s university student’ and ‘income level’.

Practical implications: Rapid price changes in the tourism industry can disturb consumers who are mental accounting and sunk cost biased. So, they can change their holiday preferences or be dissatisfied with it and give negative feedback.

Details

The Framework for Resilient Industry: A Holistic Approach for Developing Economies
Type: Book
ISBN: 978-1-83753-735-8

Keywords

Article
Publication date: 11 August 2023

Timothy I. Ramjaun, Madeleine Pullman, Maneesh Kumar and Vasco Sanchez Rodrigues

This article aims to investigate collaborative procurement as a sourcing strategy amongst competing small enterprises in an effort to reduce their material supply costs through…

Abstract

Purpose

This article aims to investigate collaborative procurement as a sourcing strategy amongst competing small enterprises in an effort to reduce their material supply costs through increased efficiencies, bargaining power and economies of scale.

Design/methodology/approach

A case study approach is applied to a network of breweries that are regionally clustered. Interview data from producers, suppliers and industry experts is inductively interpreted to understand the viability, organisational impact and benefits/limitations of joint procurement activities.

Findings

The craft brewing industry follows a market place strategy of differentiation to achieve competitive advantage. This has supply chain implications that promote raw material diversity, which is in conflict with standardisation – a necessary factor for collective buying. Competition impacts information sharing and governance mechanism, while the structural factors of size asymmetry along and across the supply chain influence returns. These issues impact the potential economic benefits of collaborative procurement.

Research limitations/implications

The research propositions have been developed in a specific industry but are generalisable to other companies with a differentiation strategy, especially in the consumer packaged goods sector.

Practical implications

Enabling conditions and constraints are captured in a framework and capability matrix, which can be used by practitioners to assess industry and product feasibility for collaborative procurement.

Originality/value

Previous studies of collaborative procurement have been in the public sector amongst large organisations. This work focusses on coopetition in the context of small businesses to identify the viability and cost-benefit of this strategy.

Details

International Journal of Operations & Production Management, vol. 44 no. 3
Type: Research Article
ISSN: 0144-3577

Keywords

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