Businesses

The behavioral theory of the firm explains how firms react to performance feedback, yet little is known about how firms integrate backward-looking feedback with forward-looking assessments of market opportunity. This study proposes and tests a retrenchment model grounded in SWOT-based behavioral logic via the TOWS matrix. Changes in market share are conceptualized as an internal strength or weakness, and market attractiveness, as an external opportunity or threat. Using prefecture-level panel data on Japanese life insurance companies (2006–2019), the analysis showed that market attractiveness served as a cognitive frame that shapes a firm’s response to performance signals. In attractive markets (opportunity), firms reduced retrenchment, as share gains (strength) were leveraged and losses (weakness) triggered problem-solving. Conversely, in unattractive markets (threat), firms accelerated retrenchment, as losses (weakness) confirmed the need to exit and gains (strength) enabled a profitable withdrawal. The study extends behavioral theory by showing that the strategic meaning of an internal strength or weakness depends on the external context of an opportunity or threat. This mechanism helps explain why firms sometimes persist after failure and retrench after success. Practically, the findings offer a diagnostic framework that helps managers assess market portfolios and mitigate behavioral biases in resource allocation decisions. Full article

Scholars are showing a growing interest in smart tourism, a promising trend in destination development. The current research studies have established a strong theoretical foundation on the functions of technology and the impacts of smart tourism on travelers. Nevertheless, little is known about the comprehensive and systemic effects on the growth of smart tourism in a particular destination. This study employs bibliometric analysis to examine the scientific literature of smart tourism research, based on 563 relevant publications retrieved from the leading database Web of Science Core Collection between 2000 and 2024 and analyzed using VOSviewer software 1.6.20 packages. The results show that the total number of relevant publications has gradually increased in recent years. Key journals include Tourism Management, Sustainability-Basel, and Annals of Tourism Research. The results also show that authors from the People’s Republic of China have the most publications and international co-authorships, while the most influential institution is the Hong Kong Polytechnic University. Moreover, research keywords have been identified, including smart tourism, smart cities, Internet of Things and big data. The research findings of this study provide valuable insights to further improve smart tourism research. Full article

Environmental, Social, and Governance (ESG) performance has emerged as a critical indicator of corporate legitimacy, resilience, and long-term value. However, translating ESG strategic intent into tangible results remains a pressing theoretical and managerial challenge. This paper introduces an integrated framework elucidating the pathways through which Corporate Citizenship (CC), understood as a participatory, relational evolution of Corporate Social Responsibility (CSR), influences ESG outcomes at the employee level. Drawing on both Social Exchange Theory (SET) and Social Identity Theory (SIT), the model explains how reciprocal obligations and identity-based alignment jointly influence employees’ discretionary behaviors. Perceived Organizational Support (POS) is introduced as a moderating factor that shapes the strength of the CC–OCB pathway. This study contributes to the micro-foundations of ESG by illuminating how individual discretionary behaviors mediate and condition the impact of strategic corporate citizenship initiatives. By advancing a dual-theoretical, micro-foundational approach, the framework moves beyond reputational CSR models and provides a testable, behaviorally anchored account of ESG implementation. Practical implications are offered for organizations seeking to cultivate trust-based cultures that align employee engagement with sustainable performance. Full article

Based on semi-structured interviews with individuals with direct involvement in the certification process, this study examines the ANSI/NSI 373: Sustainable Production of Natural Dimension Stone standard from a business perspective, analyzing its adoption within the North American dimension stone industry and comparing it to voluntary sustainability initiatives (VSIs) in the forest sector. Key factors driving adoption include environmental and social responsibility, competitive positioning, and market differentiation. The findings reveal both the opportunities and the barriers that businesses face in integrating sustainability standards, including certification credibility, operational challenges, and varying levels of industry acceptance. While ANSI/NSI 373 offers potential value in branding and environmental responsibility, inconsistent firm responses and rigorous certification demands pose challenges to widespread implementation. This research underscores the need for strategic collaboration among industry stakeholders to enhance adoption, improve market positioning, and leverage sustainability as a business advantage. Full article

This study explores how Turkish Generation Z adapts their fashion consumption behaviours in response to economic crises, particularly focusing on involuntary anti-consumerism. Through a qualitative methodology using semi-structured interviews and purposive sampling, the research captures the coping strategies and emotional experiences of young consumers in Türkiye. A thematic analysis of fifteen interviews reveals an original “8Rs” framework—Reject, Restrict/Reduce, Reuse/Reclaim, Re-find, Reconsider, Re-framing Discounts, Re-direction of Resources, and Emotional Responses—that illustrates both behavioural and psychological adjustments under financial strain. Notably, the study introduces two novel concepts: “recession rush,” a calculated urgency to purchase before price hikes, and “re-direction of resources,” the reallocation of budget from other categories toward fashion purchases. By focusing on a geographically underrepresented context and a pivotal consumer segment, this research contributes new insights to the literature on anti-consumption, economic adaptation, and youth identity expression in crisis economies. Full article

Career decisions are among the most consequential choices individuals make, profoundly shaping their long-term stability and overall life satisfaction. The literature suggests that behavioral biases, specifically overconfidence, herd mentality, social comparison, status quo bias, and optimism bias, can exert considerable influence on these decisions, thereby shaping students’ future career trajectories. This study adopts a behavioral perspective to examine how these biases influence career choices within a collectivist social context. A survey of 360 undergraduate and graduate business students was conducted. The collected data were analyzed using an integrated approach that combines Partial Least Squares Structural Equation Modeling (PLS-SEM) and Artificial Neural Networks (ANN), enabling the use of both linear and non-linear methods to analyze the relationship between cognitive biases and career choices. Our findings reveal that while all five biases have a measurable impact, status quo bias and social comparison are the dominant factors influencing students’ career decisions. These results underscore the need for interventions that foster self-awareness, independent decision-making, and critical thinking. Such insights can guide educators, career counselors, and policymakers in designing programs to mitigate the negative effects of cognitive biases on career decision-making, ultimately enhancing career satisfaction and workforce efficiency. Full article

Digital wallets (DWs) have experienced significant growth in recent years. Still, at the same time, there are substantial differences in the level of adoption of these financial technologies between EU Member States. This research investigates the key factors affecting the intention to use DWs by analyzing previous research and applying an extended Technology Acceptance Model. In total, 418 respondents from the Baltic states participated in the online survey in 2024. Using partial least squares–structural equation modeling (PLS-SEM), the analysis revealed that the factors studied, such as perceived usefulness, perceived ease of use, social influence, facilitating conditions, and perceived trust, significantly influenced users’ intent to use DWs for financial services. Perceived trust emerged as the strongest predictor, and social influence moderated perceived ease of use and facilitated conditions that impacted users’ intent to adopt DWs. This study provides important insights into the factors that shape users’ intentions to use DWs and the interactions between these factors. In addition, the extension of the TAM strengthened the theoretical framework for the study of DW adoption. Full article

Franchising operates as a proven business model that drives substantial growth for small and medium-sized enterprises (SMEs) worldwide. The franchise ecosystem in Saudi Arabia lacks sufficient research, despite established frameworks for success in markets such as the United States, the United Kingdom, and Australia. This research investigates the elements that lead to franchise success in Saudi Arabia through a combination of qualitative and quantitative data. This research evaluates franchise performance through metrics such as Average Revenue Per Unit (ARPU), Return on Investment (ROI), Franchise Success Rate, Time to Break Even, and Market Growth Rate, comparing Saudi Arabia with the U.S., the U.K., and India to identify essential success determinants. The research reveals that franchise success depends on regulatory frameworks, cultural alignment, economic diversification, and supply chain efficiency. The U.S. and U.K. enjoy established legal protections, whereas Saudi Arabia faces regulatory complexities and resource limitations. The research proposes three strategic recommendations: government incentives, locally adapted business models, and carefully selected locations to boost franchise success. The analysis provides essential information to policymakers, franchisors, and entrepreneurs seeking to expand their businesses in Saudi Arabia. The implementation of Vision 2030 growth barrier solutions and market opportunities will enable Saudi Arabia to build up its franchising sector and enhance market performance. This research adds new knowledge to the franchising literature in emerging markets and its impact on sustainable business growth. Full article

In today’s volatile business environment, command and control leadership is increasingly inadequate for sustaining engagement, innovation and resilience. This review synthesises peer-reviewed evidence on coaching leadership style (CLS) published between 2000 and 2025. A systematic search across four databases yielded eleven high-quality empirical studies and three meta-analyses. The findings indicate that CLS enhances employee motivation, facilitates skill development, promotes psychological safety and strengthens organisational adaptability, while concurrently advancing leaders’ effectiveness and emotional intelligence. Notably, recent trials demonstrate that both virtual and face-to-face coaching modalities produce comparable performance gains. This review also identifies contextual constraints—such as time intensity and crisis-driven situations—where CLS may be less advantageous. Practical recommendations are offered for embedding coaching behaviours into daily management routines, including phased roll outs, leader as coach training and metrics for monitoring engagement and innovation. Future research should prioritise longitudinal, cross-cultural studies that examine CLS efficacy in digitally transformed, post-pandemic workplaces. Collectively, the evidence positions coaching leadership not as an optional enhancement but as a strategic requirement for organisations seeking sustained competitive advantage. Full article

Information and communication technologies (ICTs) are becoming increasingly important for sustainable rural development through the smart village concept. This study aims to model ICT’s potential for public services management in European rural areas. It identifies ICT applications across rural service domains, analyzes how these technologies address specific rural challenges, and evaluates their benefits, implementation barriers, and future prospects for sustainable rural development. A qualitative content analysis method was applied using purposive sampling to analyze 79 peer-reviewed articles from EBSCO and Elsevier databases (2000–2024). A deductive approach employed predefined categories to systematically classify ICT applications across rural public service domains, with data coded according to technology scope, problems addressed, and implementation challenges. The analysis identified 15 ICT application domains (agriculture, healthcare, education, governance, energy, transport, etc.) and 42 key technology categories (Internet of Things, artificial intelligence, blockchain, cloud computing, digital platforms, mobile applications, etc.). These technologies address four fundamental rural challenges: limited service accessibility, inefficient resource management, demographic pressures, and social exclusion. This study provides the first comprehensive systematic categorization of ICT applications in smart villages, establishing a theoretical framework connecting technology deployment with sustainable development dimensions. Findings demonstrate that successful ICT implementation requires integrated urban–rural cooperation, community-centered approaches, and balanced attention to economic, social, and environmental sustainability. The research identifies persistent challenges, including inadequate infrastructure, limited digital competencies, and high implementation costs, providing actionable insights for policymakers and practitioners developing ICT-enabled rural development strategies. Full article

Although research on religion has gained increasing attention, few studies have examined its connection to consumer identity and how it influences purchasing decisions. This gap is especially noticeable when it comes to decision-making around religious services. Previous studies on what influences consumers’ choice of banks have produced mixed findings on the role of religion. This study explores how multiple identities shape the decision to use non-Islamic banking services in Pakistan, where Muslim consumers can choose between Islamic (religious) and non-Islamic (non-religious) banking options. Using a qualitative approach, the research focuses on Muslims who opt for non-Islamic banking to understand the factors behind their choice. Findings reveal that role identity—especially as a son or daughter—plays a key role in bank selection, even when religion is important to the individual. However, identity conflicts arise as people navigate different aspects of their identity. Surprisingly, group identity had little influence on these banking decisions. Full article

In today’s globalized and rapidly evolving technological landscape, innovation serves as a critical driver of economic growth and competitive advantage. The concept of an innovation ecosystem has emerged to elucidate the complex interactions among various stakeholders—including public sectors, startups, academia, businesses, NGOs, and venture capitalists—who collaborate and compete to foster technological advancements and economic growth. Open innovation emphasizes leveraging external ideas alongside internal efforts to enhance innovation capabilities, fostering more dynamic and resilient systems. Additionally, learning from innovation failures plays a crucial role in shaping effective strategies for growth, as startups often translate these learnings into robust innovation frameworks. Given the increasing complexity and interconnectedness of innovation ecosystems, traditional metrics often fail to capture their dynamic and collaborative nature. The European Innovation Scoreboard (EIS) provides a comprehensive framework for assessing the innovation performance of EU countries, offering insights into the overall health and performance of innovation ecosystems. This review article addresses the need to identify metrics and methods for measuring open innovation’s impact on innovation ecosystems. Building upon foundational theories and empirical findings, this study proposes a framework for evaluating the impact of open innovation on innovation ecosystems. It integrates insights from the academic literature with EIS metrics to develop robust methods for assessing open innovation’s multifaceted influence. This review article is particularly relevant as firms and policymakers strive to understand which metrics are most affected by open innovation and how these can be leveraged to enhance the performance and sustainability of innovation ecosystems. Full article

This study examines the impact of AI adoption orientation on innovation performance in multinational corporations (MNCs), emphasizing team innovativeness as an intervening mechanism and technology orientation as a moderating factor. Using data from 410 respondents collected via a snowball sampling strategy and analyzed through partial least squares structural equation modeling (PLS-SEM), the findings reveal that artificial intelligence (AI) adoption orientation positively influences team innovativeness and innovation performance. Team innovativeness partially mediates this relationship, while technology orientation moderates the link between AI adoption and team innovativeness, underscoring the role of technological preparedness in enhancing innovation. The study contributes to theoretical understanding by integrating team dynamics and technology preparedness in AI-driven innovation. It provides practical insights for managers, policymakers, and organizational leaders on fostering an innovative culture and investing in technology skills to drive MNC competitiveness. Full article

The purpose of this conceptual and explorative study is to investigate whether health-promoting self-leadership could be used as a coping strategy enabling employees to deal with negative emotions in an organizational change process, providing a conceptual framework. A total of 18 faculty members from a Nordic university college were interviewed about their experiences, perceptions, and emotional reactions. The study reveals that new IT-systems; heavier workloads; and a lack of involvement, trust, and information, in particular, were stated to be the main reasons for negative emotions, detachment from the university-status aim, and the disruption of employee work–life balance. A few faculty members practiced fragments of what, in theory, is defined as health-promoting self-leadership to successfully manage the organizational change processes. Some were unconscious of their self-leadership practices, while others had no tools to enable them to cope with changes, leading to negative emotions. I discuss the findings regarding health-promoting self-leadership practice based on self-leadership, change management, and emotion theory. Based on both the findings in this study and relevant theories regarding self-leadership and coping strategies, I propose a health-promoting self-leadership-based coping model that could provide both individual and organizational health and performance benefits. Full article

This article proposes and tests a conceptual model examining the antecedents of customer satisfaction and loyalty in the Danish banking sector. Given the changing landscape, the importance of personnel contact, the bank’s website, and the bank’s ethics and reputation are of particular interest. Data were collected through convenience sampling. A total of 1132 usable questionnaires were received. This study reveals that competent personnel, as well as bank ethics and reputation, are major factors influencing customer satisfaction and loyalty. Personal contact with staff is also crucial in shaping customers’ perceptions of the bank’s ethics and reputation. The results also demonstrate that switching barriers have a significant influence on customer satisfaction and loyalty. Finally, the multi-group analysis revealed no significant differences in terms of gender or generation. This study offers valuable insights for retail banks to enhance customer satisfaction and loyalty, demonstrating that competent personnel remains an important driver, even during the shift to digital banking. Full article

Rural agricultural markets face unique challenges, yet neuromarketing applications in this sector are understudied. This systematic review investigates how neuroscience has been applied to shape marketing narratives for rural agricultural producers. The objectives were to catalog relevant studies, identify key themes using inductive thematic synthesis, and derive practical implications for rural marketing strategy and future research. We systematically searched English-language, peer-reviewed studies published between 2016 and 2024 across multiple academic databases, following PRISMA guidelines. Two independent reviewers screened the records, resulting in the inclusion of 20 studies. Key data from each study were extracted and synthesized using an inductive thematic analysis approach. The synthesis revealed several recurrent findings. First, in terms of social and community context, farmers showed greater trust and engagement with familiar local buyers than with distant corporations, indicating that local relationships strongly influence producer behavior. Second, regarding product and narrative attributes, marketing narratives that emphasized local provenance, organic or sustainable production, and ethical values such as animal welfare and environmental sustainability resonated strongly with rural consumers. Third, sensory and emotional cues particularly visual elements and storytelling techniques including color, imagery, and packaging design consistently enhanced consumer attention and engagement. Overall, these neuroscience-informed themes suggest that marketing narratives emphasizing authenticity, trust-building, and community values can effectively strengthen rural agricultural marketing. This review provides neuroscience-informed interpretations of key rural marketing challenges, drawing on dual-process theory and consumer decision models for applying neuromarketing insights in this context. Practically, rural producers can leverage these findings by designing marketing messages and packaging that highlight local identity and ethical values, thereby building consumer trust and loyalty. The review also highlights gaps such as the need for more field-based neuromarketing studies and suggests directions for future research, offering guidance for both scholars and practitioners working at the intersection of neuroscience and rural consumer behavior. Full article

The restaurant industry, especially fine dining, is characterized by intense competition and an increasing number of closures. Wine is a profit lever, but the exploitation of sales potential can present a challenge. As consumers encounter more extensive wine lists, they often find themselves overwhelmed. A restaurant experiment in Stuttgart, Germany, examined strategies to simplify decision-making for customers and their impact on wine purchases and the dining experience. This experiment, conducted at a small fine-dining establishment, aimed to understand how wine descriptions and pairing recommendations influence customer choices and behavior, revealing key insights that wineries and restaurants can leverage to boost wine sales. The findings underscore the power of wine descriptions and strategic pairing recommendations in enhancing customer engagement. They suggest that restaurants can increase their wine sales by integrating well-crafted wine descriptions into menus, while wineries can benefit by providing comprehensive tasting notes and pairing suggestions that align with restaurant offerings. For both sectors, understanding the sensory and psychological factors that shape wine appreciation can offer a competitive edge. Full article

Small and medium-sized enterprises (SMEs) face substantial barriers in accessing reliable and cost-effective IT infrastructure, primarily due to economic constraints and limited technical resources. Hybrid cloud computing solutions, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS), offer potential to overcome these barriers by providing scalable, flexible IT services. This study systematically reviews the impact of cloud computing on SME performance, focusing on key performance metrics such as cost-efficiency, operational reliability, and competitive advantage. A systematic literature review was conducted using the PRISMA 2020 framework. Inclusion criteria included studies published in English from 2014 to 2024, focusing on cloud computing for SMEs and presenting clear analytical frameworks for evaluating performance. Out of an initial pool of 18,570 studies, 90 met the criteria for detailed analysis. Findings show that cloud computing adoption enhances SME performance, with approximately 82% of studies reporting improvements in operational efficiency and 76% noting cost savings. Competitive advantage was identified as a key benefit in 64% of studies, driven by cloud-enabled scalability and access to advanced technology. Key adoption drivers include management support (cited by 68% of studies), service quality (56%), and perceived risks (54%), while barriers such as initial cost concerns and data security risks were also prevalent, affecting 48% and 45% of SMEs, respectively. This review provides strategic insights for SMEs and policymakers, emphasizing the importance of tailored cloud strategies that align with specific operational needs and budget constraints. By addressing key predictors and challenges, this study offers a roadmap for SMEs to leverage cloud computing to improve performance, sustainability, and competitiveness. Full article

Small and medium-sized enterprises (SMEs) face unique challenges that can be effectively addressed through the adoption of data mining and business intelligence (BI) tools. This systematic literature review scrutinizes the deployment and efficacy of BI and data mining technologies across SME sectors, assessing their impact on operational efficiency, strategic decision-making, and market competitiveness. Therefore, drawing from a methodologically rigorous analysis of 93 scholarly articles published between 2014 and 2024, the review elucidates the evolving landscape of BI tools and techniques that have shaped SME practices. It reveals that advanced analytics such as predictive modeling and machine learning are increasingly being adopted, though significant gaps remain, particularly shaped by economic factors. The utilization of BI and data mining enhances decision-making processes and enables SMEs to adapt effectively to market dynamics. Despite these advancements, SMEs encounter barriers such as technological complexity, high implementation costs, and substantial skills gaps, impeding effective utilization. Our review, grounded in the analysis of business intelligence tools used indicates that dashboards (31.18%) and clustering techniques (10.75%) are predominantly utilized, highlighting their strategic importance in operational settings. However, a considerable number of studies (66.67%) do not specify the BI tools or data mining techniques employed, pointing to a need for more detailed methodological transparency in future research. The predominant focus on the ICT and manufacturing sectors underscores the industrial context sector specific applicability of these technologies, with ICT accounting for 45.16% and manufacturing 22.58% of the studies. We advocate for targeted educational programs, development of user-friendly and cost-effective BI solutions, and strategic partnerships to facilitate knowledge transfer and technological empowerment in SMEs. Empirical research validating the impacts of BI and data mining on SME performance is crucial, providing a directional pathway for future academic inquiries and policy formulation. Full article