Modeling the Influence of Information Systems on Sustainable Business Performance and Competitiveness

Abstract

The necessity for sustainable development, the coronavirus pandemic, and conducting business within the frameworks of the fourth industrial revolution—Industry 4.0 create a challenging environment where enterprises have difficulties to achieve and maintain competitiveness. Information is becoming a core construct when it comes to conducting business in the modern, globalized business environment. In this paper, the influence of information systems (IS) on sustainable business performance and competitiveness is analyzed. Additionally, the influence of human resource management (HRM) and decision making (DM) on sustainable business performance and competitiveness, as two crucial constructs in the new paradigm of conducting business, are addressed. The relations are discussed from the aspect of sustainable development and future post-pandemic business trends. The main goal is to determine the relations between the noted constructs in a transitional setting. In sum, 184 manufacturing enterprises from Republika Srpska were surveyed via a structured survey, where the focus was on quantifying and modeling the influence of IS, HRM, and DM on sustainable business performance. The results indicate that IS, HRM, DM can affect business performance in a transitional economic setting. This approach is novel, as the existing body of literature does not address all the noted influencing factors on sustainable business performance and competitiveness in a transition economy. Hence, this paper significantly contributes to the existing body of literature and provides a solid basis for future research in this domain.

The Determinants and Effects of Competitiveness: The Role of Digitalization in the European Economies

“…Additionally to the competitiveness factors mentioned above, digitalization has become a critical factor for competitiveness recently. There is a rapid development of ICTs, which pressures enterprises to conduct business within the framework of the Fourth Industrial Revolution (Industry 4.0); with global markets and strong competition, some traditional manufacturing firms are implementing new maintenance innovations and policies, based on digitalization and a data-driven approach [4][5][6]. This further indicates that the application of modern information-communication technologies (ICTs) by enterprises is an important factor in sustainable development.…”

“…Studies indicate, that enterprises have to evaluate their business processes and identify which can be improved via ICT solutions such as information systems, cloud infrastructure, etc. [4,7,8].…”

Development of a youth entrepreneurship model for sustainable business growth

“…Next, an ARIMA graph that doesn't include the gender and environmental assessment predictors is presented (Figure 2). (Ćoćkalo et al, 2020;Kim et al, 2020a)  social entrepreneurship (Gupta et al, 2020)  attitudes and pillars of entrepreneurship (Liguori et al, 2020)  entrepreneurial economy (Youseff et al, 2021)  sustainable development (Cervelló-Royo et al, 2020)  sustainable business (Djalic et al, 2021)  sustainable growth (Kim et al, 2020b)  technological progress (Bakator et al, 2019)  Industry 4.0 (Bakator et al, 2018)  Industry 5.0 (Javaid & Haleem, 2020;Maddikunta et al, 2021)  the concept of Society 5.0 (Konno & Schillaci, 2021;Narvaez Rojas et al, Youth entrepreneurship has to be molded in a way that corresponds to the modern business environment. However, due to the globalization of markets, constant changes, and challenges, the core of youth entrepreneurship remains (innovation, value, and sustainability), but other aspects such as education, technology, and market dynamics have to be flexible from the entrepreneur's perspective.…”

Analysis of social barriers to sustainable innovation and digitisation in supply chain

“…According to Pappas et al ( 2018 ), sustainable development is one that meets the needs of the present without jeopardising the ability of future generations to meet their own needs in the same way. It is responsible for handling supply chain activities, materials, knowledge, and money to improve the supply chain profitability while reducing environmental effects and boosting the social quality of life (Djalic et al, 2021 ). Another factor affecting SCM is the increase in the number of new enabling technologies at different levels of the supply chain (Min et al, 2019 ; Queiroz et al, 2019 ).…”

“…The studies (Ludbrook et al, 2019 ; Nia et al, 2021 ; Pappas et al, 2018 ) found that DSC strengthens the interaction and coordination between confidential global organisations and has coordinated the actions of allies with the help of software and information networks. Digitalisation enhances SCM’s sustainability by making it more accessible, practical, and cheap, according to the most recent and advanced theories given by Gupta et al, ( 2020a , 2020b ); Agrawal et al ( 2021 ); and Djalic et al ( 2021 ). They also highlighted that it shortens the material flow of goods and services and the skill, expertise, and capital required to manage it.…”