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Pioneering Approaches and Global Challenges in Business, Management and Economic...
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Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering

A special issue of Businesses (ISSN 2673-7116).

Deadline for manuscript submissions: closed (31 December 2024) | Viewed by 17273

Special Issue Editor

Dr. Andrea Ivanisevic

E-Mail Website
Guest Editor
Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Interests: economics of the firm; principles of economics; engineering economics; business
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue focuses on current issues in the field of management, business, and economic engineering and related scientific disciplines. Global economic problems such as inflation, climate change, accelerated digitalization, and wars have led to a “polycrisis”, and our aim is to use an interdisciplinary approach to highlight these problems and contribute to overcoming current global challenges.

This Special Issue is written in conjunction with the FUTURE-BME 2024 International Scientific Conference [https://www.future-bme.ftn.uns.ac.rs/] (which will be held in Novi Sad, Serbia, on 30–31 October 2024), and welcomes submissions from participants in the conference. The deadline for abstract submission is 3 June 2024 and for full paper submissions is 20 September 2024.

We welcome the submission of original research articles and review papers to this Special Issue, with topics of interest including, but not limited to, the following:

  • Sustainable business practices;
  • Innovation and entrepreneurship;
  • Supply chain management and resilience;
  • Advanced manufacturing and technology;
  • Project management and ethics;
  • Economics and finance;
  • Design and marketing;
  • Engineering and construction.

Dr. Andrea Ivanisevic
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Businesses is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1000 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • management
  • business
  • economic engineering

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Further information on MDPI's Special Issue policies can be found here.

Published Papers (7 papers)

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Research

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25 pages, 4661 KiB  
Article
Enhancing IoT Technology Acquisition in Emerging Economies: Insights and Recommendations Using Analytical Case Study Review of IoT Startups
by Mohammad Tondro, Mohammad Jahanbakht and Dervis Ozay
Businesses 2025, 5(2), 20; https://doi.org/10.3390/businesses5020020 - 21 Apr 2025
Viewed by 787
Abstract
The rapid growth of the Internet of Things (IoT) presents emerging economies with an invaluable opportunity to reshape their market standings and reach a competitive advantage. Nonetheless, the acquisition and development of IoT technologies poses significant challenges for businesses in these areas. This [...] Read more.
The rapid growth of the Internet of Things (IoT) presents emerging economies with an invaluable opportunity to reshape their market standings and reach a competitive advantage. Nonetheless, the acquisition and development of IoT technologies poses significant challenges for businesses in these areas. This study explores the factors affecting IoT technology acquisition and advancement by smart mobility businesses in this market. Through a review of literature and case studies, the research identifies key strategies and their characteristics. We focus on critical factors such as infrastructure constraints, technology acquisition, regulatory frameworks, business structures, and strategic alliances by analyzing related startups engaged in IoT products and services, each with distinct features. Additionally, this research utilizes the Capability Maturity Model to evaluate and enhance technological capabilities and business processes according to their readiness levels. Based on the results obtained, we emphasize the necessity of approaches tailored to specific needs and obstacles. Employing a mixed-methods approach, including conceptual studies, thematic analysis, interviews, questionnaires, and advanced machine learning techniques, the study sheds light on the strategic decisions, technological trends, and achievements of IoT-focused businesses. Therefore, it underscores the importance of recognizing technological trends and the pivotal role of data-driven analytics in strategic decision-making for technology adoption. Full article
(This article belongs to the Special Issue Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering)
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14 pages, 2918 KiB  
Article
Bridging Knowledge, Protection and Development Gaps Through an Interdisciplinary Multi-Stakeholder Approach to Natural Hazards Risk Management
by Nadia Netti and Martina de Cristofaro
Businesses 2024, 4(4), 582-595; https://doi.org/10.3390/businesses4040035 - 17 Oct 2024
Viewed by 975
Abstract
The escalation of climate-induced disasters underscores how climatic variability has become a main question in designing risk-sensitive policies in advanced and developing countries. The macroeconomic implications of Natural Hazards (NHs) are extremely significant, as they can compromise financial stability and long-term prosperity. To [...] Read more.
The escalation of climate-induced disasters underscores how climatic variability has become a main question in designing risk-sensitive policies in advanced and developing countries. The macroeconomic implications of Natural Hazards (NHs) are extremely significant, as they can compromise financial stability and long-term prosperity. To mitigate risks and close the knowledge, protection, and development gaps can free resources, speeding up reconstruction of infrastructure, recovering from disruption of supply chains, and returning to pre-disaster levels of activities. This is not a simple task involving different steps of a “ladder approach”, sharing the burden of cost and responsibilities across the relevant stakeholders and reducing moral hazard. This approach rests on Public–Private Partnerships (PPPs) and technological R&D public investments able to crowd private ones in and establish useful Public–Private Insurance Schemes enhancing the disaster risk management role of the state. This paper proposes leveraging innovation technology both to enhance risk assessment and reduce uncertainty for climate-related NHs such as landslides. It is an important interdisciplinary question; in fact, despite the unequivocal acknowledgment of the global warming system, the precise ramifications of global warming and associated climatic shifts on NHs like landslides remain still elusive. The advanced modeling technique implemented by our interdisciplinary PPP contributes to geographically circumscribe the areas eventually subjected to landslides and constantly monitor the vulnerability of their structures, infrastructures, economic activities, and hence population. The reliable data that we can produce through remote sensing acquisition systems are necessary inputs to contain risk exposure both physically and financially. Full article
(This article belongs to the Special Issue Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering)
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22 pages, 690 KiB  
Article
Adapting International Business Models for EU Projects: Macro- and Micro-Foundations of the Uppsala Model in Multinational Collaborations
by Cheryl Marie Cordeiro and Erik Sindhøj
Businesses 2024, 4(4), 509-530; https://doi.org/10.3390/businesses4040031 - 2 Oct 2024
Cited by 1 | Viewed by 1816
Abstract
This study examines the adaptation of the Uppsala Model to enhance the management of European Union (EU)-funded projects, particularly focusing on the macro- and micro-foundational elements of the model. The Uppsala Model, originally developed for firm-level internationalization, provides a valuable framework for addressing [...] Read more.
This study examines the adaptation of the Uppsala Model to enhance the management of European Union (EU)-funded projects, particularly focusing on the macro- and micro-foundational elements of the model. The Uppsala Model, originally developed for firm-level internationalization, provides a valuable framework for addressing the complex challenges of EU project implementation, which include bureaucratic hurdles, diverse stakeholder management, and the intricacies of European integration. This paper highlights the persistent issues faced by project managers despite improved application processes and skilled beneficiaries. By applying the Uppsala Model, which emphasizes incremental knowledge development and resource commitment, this study aims to bridge the gap between fund acquisition and project delivery. The integration of both macro- (broad external factors) and micro- (individual and organizational behaviors) perspectives of the Uppsala Model offers a comprehensive approach to managing international, multi-stakeholder EU initiatives. This approach is exemplified through the SuMaNu project, which addresses nutrient recycling and sustainable manure management in the Baltic Sea Region. The findings suggest that the Uppsala Model’s principles can be effectively applied to enhance the execution of complex EU projects by fostering better stakeholder relationships, incremental learning, and adaptive strategies. This study underscores the relevance of experiential learning and network perspectives in achieving successful project outcomes in the EU context. Full article
(This article belongs to the Special Issue Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering)
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49 pages, 7795 KiB  
Systematic Review
Applications and Competitive Advantages of Data Mining and Business Intelligence in SMEs Performance: A Systematic Review
by Shao V. Tsiu, Mfanelo Ngobeni, Lesley Mathabela and Bonginkosi Thango
Businesses 2025, 5(2), 22; https://doi.org/10.3390/businesses5020022 - 7 May 2025
Viewed by 349
Abstract
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 [...] Read more.
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
(This article belongs to the Special Issue Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering)
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52 pages, 6961 KiB  
Systematic Review
Guiding IT Growth and Sustaining Performance in SMEs Through Enterprise Architecture and Information Management: A Systematic Review
by Andiso Pingilili, Ntebele Letsie, Gift Nzimande, Bonginkosi Thango and Lerato Matshaka
Businesses 2025, 5(2), 17; https://doi.org/10.3390/businesses5020017 - 11 Apr 2025
Viewed by 704
Abstract
In today’s fast-paced technological landscape, businesses must adapt to evolving business models and harness the power of data to thrive. Small and Medium-sized Enterprises (SMEs) face significant challenges in aligning IT infrastructure with business objectives while navigating digital transformation. This systematic review, conducted [...] Read more.
In today’s fast-paced technological landscape, businesses must adapt to evolving business models and harness the power of data to thrive. Small and Medium-sized Enterprises (SMEs) face significant challenges in aligning IT infrastructure with business objectives while navigating digital transformation. This systematic review, conducted using PRISMA 2020 guidelines, investigates the role of Enterprise Architecture (EA) and Information Management (IM) in driving IT growth and sustaining competitive performance in SMEs. Through a synthesis of academic research, industry analysis, and case studies from the last decade, this review identifies key frameworks—such as TOGAF, Zachman, and FEAF—that support the alignment of IT capabilities with organizational goals. The integration of IM within EA frameworks is found to enhance decision-making, resource allocation, and operational efficiency. Emerging technologies like Artificial Intelligence (AI) and cloud computing are highlighted for their transformative impact, enabling real-time data analysis, improved scalability, and enhanced agility. Our review reports that 43.44% of the studies focused on cloud-based solutions, while 24.59% adopted hybrid models, offering SMEs scalable and flexible IT infrastructures. The findings emphasize the necessity of strong governance frameworks to ensure compliance, adaptability, and long-term sustainability in a dynamic environment. This research contributes to a comprehensive roadmap for SMEs, enabling them to leverage EA and IM for sustained growth and competitive advantage in the digital era. Full article
(This article belongs to the Special Issue Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering)
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42 pages, 3507 KiB  
Systematic Review
The Impact of IT Strategic Planning Process on SME Performance: A Systematic Review
by Olebogeng B. Molete, Selloane E. Mokhele, Somquba D. Ntombela and Bonginkosi A. Thango
Businesses 2025, 5(1), 2; https://doi.org/10.3390/businesses5010002 - 7 Jan 2025
Cited by 1 | Viewed by 3542
Abstract
Information technology (IT) strategic planning plays a pivotal role in enhancing the performance of small and medium-sized enterprises (SMEs), improving operational efficiency and decision-making, and fostering innovation. This systematic review aims to synthesize the impacts of IT strategic planning on SME performance, focusing [...] Read more.
Information technology (IT) strategic planning plays a pivotal role in enhancing the performance of small and medium-sized enterprises (SMEs), improving operational efficiency and decision-making, and fostering innovation. This systematic review aims to synthesize the impacts of IT strategic planning on SME performance, focusing on key performance indicators such as operational efficiency, cost reduction, and customer satisfaction. A total of 80 studies were rigorously analyzed. Quantitative methods were used in 45% of the studies, while 25% applied thematic analysis. The adoption of cloud-based solutions (11.25%) and hybrid IT setups (17.5%) were also evaluated as critical enablers of flexibility and cost-efficiency. SMEs aligning their IT strategies with business objectives demonstrated up to a 20% reduction in operational costs and a 15% increase in customer satisfaction. Resource constraints were identified as a significant challenge in 60% of the studies. Nevertheless, effective IT planning contributed to long-term sustainability and competitive advantage in 60% of the reviewed studies. This review provides actionable insights and strategic frameworks to guide SMEs in optimizing their IT investments, overcoming resource limitations, and ensuring sustainable growth. Full article
(This article belongs to the Special Issue Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering)
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64 pages, 9922 KiB  
Systematic Review
The Impact of Big Data on SME Performance: A Systematic Review
by Mpho Kgakatsi, Onthatile P. Galeboe, Kopo K. Molelekwa and Bonginkosi A. Thango
Businesses 2024, 4(4), 632-695; https://doi.org/10.3390/businesses4040038 - 14 Nov 2024
Cited by 2 | Viewed by 8060
Abstract
Big Data (BD) has emerged as a pivotal tool for small and medium-sized enterprises (SMEs), offering substantial benefits in enhancing business performance and growth. This review investigates the impact of BD on SMEs, specifically focusing on business improvement, economic performance, and revenue growth. [...] Read more.
Big Data (BD) has emerged as a pivotal tool for small and medium-sized enterprises (SMEs), offering substantial benefits in enhancing business performance and growth. This review investigates the impact of BD on SMEs, specifically focusing on business improvement, economic performance, and revenue growth. The objective of this systematic review is to evaluate the drivers and barriers of BD adoption in SMEs and assess its overall impact on operational efficiency and business outcomes. A comprehensive systematic review of 93 research papers published between 2014 and 2024 was conducted using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) framework. The methodology included detailed analysis of research approaches, addressing biases and gaps in the literature. BD adoption in SMEs led to significant improvements in operational efficiency, revenue generation, and competitiveness. However, the studies reveal persistent challenges, such as limited financial resources and technical expertise. The review identified a reporting bias, with 47% of studies using quantitative methods, 28% employing case studies, and mixed-method and qualitative studies underrepresented (22% and 17%, respectively). This imbalance highlights a potential overreliance on quantitative approaches, which may limit the depth of insights gained. While BD offers considerable potential for driving innovation and enhancing competitiveness in SMEs, addressing the current methodological biases and resource-related barriers is crucial to fully harness its benefits. Future research should focus on diverse approaches to provide a holistic understanding of BD’s impact on SMEs. Full article
(This article belongs to the Special Issue Pioneering Approaches and Global Challenges in Business, Management and Economic Engineering)
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