Global pandemics and the businesses in Lithuania

This publication analyzes the situation of businesses in the context of global pandemics. Business is an integral part of everyday life, facing risks and challenges daily, and in rare cases, such as pandemics and quarantine. Therefore, it is necessary for companies to have a contingency plan in place to deal with unexpected or expected challenges, i.e. what activities it would be possible to reorient to, how to perform activities by working remotely etc. Both the public sector and the private sector are closely interlinked. And every new environmental factor, be it state regulation, technological development, or the changing needs of humanity, and in this case, pandemic and quarantine, affects business in one way or another and leads to the success of some, the failure of others. At present, the coronavirus Covid-19, which is spreading all over the world, and the quarantine introduced in many countries are of great importance to business. This paper also presents a small-scale qualitative research data showing the impact on different types of businesses in Lithuania. The main scope of this paper is measuring the level of impact of the pandemic COVID-19 for businesses in Lithuania. Methods were used as follows: i) analysis, comparison and interpretation of scientific literature and documents; ii) qualitative approach applying structured interview with selected leaders/managers of the companies in Lithuania

Logistics Cooperation: Integrated Logistics Services

High quality service delivery is one of the key factors to survive in the market. It is highly important to meet the needs of the client since business survival depends on the client's use of business services. In recent years, the requirements of customers for the companies providing logistics services, known as third party logistics (3 PL), are continuously rising. It is obvious that the clients, insisting on the total complex of logistics services, expect additional services which would enable them to compete in the market on more favourable terms. The present article is aimed at analysing theoretical and practical aspects of third party logistics and suggesting the integrated logistics services model based on the Lithuanian example

Perceived key determinants of payment instrument usage: A fuzzy cognitive mapping-based approach

The recent economic climate has had direct repercussions on people’s daily lives. This has occurred not only in how they use payment instruments, but is also evinced in new concerns adjacent to technological advances, security and the credibility of financial institutions. In this regard, the banking sector has had a crucial role in countries’ economic development, making it increasingly important to understand how the banking system operates and what payment instruments are available to users. Relying on specialized literature and the application of fuzzy cognitive mapping, the current study aims to understand the cause-and-effect relationships between customers’ preference factors in using payment instruments. The results show that usability aspects and security issues constitute the factors which users pay more attention to. Strengths and limitations of the study are also discussed.info:eu-repo/semantics/publishedVersio

A fuzzy knowledge-based framework for risk assessment of residential real estate investments

Risk analysis of residential real estate investments requires careful analysis of certain variables (or determinants). Because real estate is a key sector for economic and social development, this risk analysis is seen as critical in supporting decision processes relating to buying or selling residential properties, partly due to the pressures caused by the current economic environment. This study aims to develop a conceptual reference model for risk assessment of residential real estate using fuzzy cognitive mapping. This fuzzy model allows cause-and-effect relationships between determinants to be identified and better understood, which in turn allows for better informed investment decisions. The results show that the use of cognitive maps reduces the number of omitted criteria and favors learning with regard to how the criteria relate to each other, holding great potential and versatility in structuring complex decision problems. Practical implications, strengths and weaknesses of our proposal are discussed.info:eu-repo/semantics/publishedVersio

Assessing payment instrument alternatives using cognitive mapping and the choquet integral

Technological advances have increased the diversity of payment instruments and transaction channels, heightening consumers' expectations for services in this regard. Coupled with an increasing competitiveness of the banking industry, this has emphasized the great importance of understanding consumers' choices of payment instruments. In order to meet their customers' expectations, banks have to understand what determines their choices of payment instruments. This study aims to uncover these determinants of payment instrument choice, through the use of cognitive mapping to structure the decision problem, and its combination with the Choquet integral to identify the overall preferred payment instrument from the user perspective. The results show that direct debits and electronic cards constitute the preferred payment instruments, and automated teller machines (ATMs) and point-of-sale (POS) the overall preferred transaction channels. Understanding consumers' choices of payment instrument, the factors underlying them and their interactions can contribute to better planning by banks at the distribution channel level. Strengths, limitations and managerial implications of our proposal are also discussed.info:eu-repo/semantics/publishedVersio

Classifying residential real estate based on their exposure to crime: a research agenda

Criminality and sense of security in residential areas are always present in the mind of citizens, and directly affect the work of police authorities, real estate agents and society at large. This study proposes the development of a multiple criteria model for the classification of residential areas based on their exposure to crime. By combining cognitive mapping with the Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH), we also aim to increase transparency in the classification process of residential real estate, allowing improvement initiatives to be applied and crime rates to be reduced. The major difference between our proposal and the extant literature is the fact that the information collected from criminal, urbanism and real estate experts, who deal with crime adversities on a daily basis, will be analyzed and discussed during presential group meetings, allowing realism to be incorporated into the evaluation mechanism. The current proposal is a research agenda, and results will not yet be presented

Detecting and developing new business opportunities in society 5.0 contexts: A sociotechnical approach

Rapid technological evolution has become a great challenge for businesses and societies due to the openness provided by new digital technologies, platforms, and infrastructure and to the impacts of these innovations on how people work and live. The concept of a super-smart society (i.e., Society 5.0) comprises a fresh way to apply these innovations, in which human beings contribute to adapting technologies to daily activities in their society and making Society 5.0 ideas applicable to different areas of each individual’s life. Digital transformation and technological innovation are basic components of this paradigm. This study sought to develop a decision-support model that can help companies structure and prioritize new business opportunities within Society 5.0 contexts. The analysis system relies on a constructivist approach that promotes debates between specialists and combinations of methodologies such as cognitive mapping and interpretive structural modeling. The results highlight the most important areas in which new business opportunities can arise, thereby demonstrating that the proposed model is a valuable tool for incorporating a future orientation into business technological innovation initiatives.info:eu-repo/semantics/publishedVersio

Perceived key determinants of payment instrument usage: a fuzzy cognitive mapping-based approach

The recent economic climate has had direct repercussions on people’s daily lives. This has occurred not only in how they use payment instruments, but is also evinced in new concerns adjacent to technological advances, people’s safety and the credibility of financial institutions. In this regard, the banking sector has had a crucial role in countries’ economic development, making it increasingly important to understand how the banking system operates and what payment instruments are available to users. Relying on specialized literature and the application of fuzzy cognitive mapping, this study aims to understand the cause-and-effect relationships between customers’ preference factors in using payment instruments. The results show that usability aspects and safety concerns constitute the factors which users pay more attention to. Strengths and limitations of our proposal are also discussed.info:eu-repo/semantics/publishedVersio

Analyzing the determinants of e-commerce in small and medium-sized enterprises: a cognition-driven framework

The increasing use of information technology in enterprises’ daily operations has led to multiple innovative ways to run a business, including electronic commerce (hereafter, e-commerce). However, firms with fewer resources, such as small and medium-sized enterprises (SMEs), are more reluctant to use electronic channels during transactions. This aversion to contemporary business models is a result of these companies’ lack of knowledge and capabilities regarding e-commerce. To improve their businesses, SMEs’ managers and decision makers could benefit from a methodological framework that fosters a deeper understanding of the determinants of e-commerce. This study sought to explore the use of fuzzy cognitive mapping to address this need. The results are grounded in the knowledge and experience of a panel of experts in e-commerce. The fuzzy cognitive map (FCM) developed shows that entrepreneur profile, market, operational management, marketing and promotions, website and digital platform, and products present the highest centrality indices as determinants of SME e-commerce. The findings offer a better understanding of the cause-and-effect relationships between these determinants. The advantages, limitations, and shortcomings of our constructivist proposal are also discussed.info:eu-repo/semantics/publishedVersio

Developing a green city assessment system using cognitive maps and the Choquet integral

Equitable human well-being and environmental concerns in urban areas have, over the years, become increasingly challenging issues. This trend is related to both the complexity inherent in the multiple factors to be considered when evaluating eco-friendly cities (i.e., green cities) and the way this type of city’s sustainability depends on many evaluation criteria, which hampers all decision-making processes. Using a multiple criteria decision analysis (MCDA) approach, this study sought to develop a multiple-criteria model that facilitates the evaluation of green cities’ sustainability, based on cognitive mapping techniques and the Choquet integral (CI). Taking a constructivist and process-oriented stance, the research included identifying evaluation criteria and their respective interactions using a panel of experts with specialized knowledge in the subject under analysis. The resulting framework and its application were validated both by the panel members and a parliamentary representative of the Portuguese ecology party “Os Verdes” (The Greens), who confirmed that the evaluation system created distinguishes between cities according to how strongly they adhere to “green” principles. The advantages and limitations of the proposed framework are also discussed.info:eu-repo/semantics/acceptedVersio