ASEAN Journal of Management & Innovation (AJMI)

Editorial Board Team

Phatrakul Phaewprayoon — Fri, 22 Dec 2023 00:00:00 +0700

Editorial Board Team

Phatrakul Phaewprayoon — Thu, 21 Dec 2023 00:00:00 +0700

Table of Contents

Towards a More Robust Financial Market: A Systematic Review of the Need for the Inception of Financial Derivatives Market in Bangladesh

Tasnim Uddin Chowdhury, Md. Monzur Morshed Bhuiya — Thu, 21 Dec 2023 00:00:00 +0700

Derivatives markets have become an integral part of the global financial landscape, enabling investors to manage risk, increase liquidity, and enhance price discovery. However, in Bangladesh, the concept derivatives is still in its nascent stage, and the lack of a well-developed market has hindered the growth of the financial sector. This paper presents a systematic review of the need for the creation of a derivatives market in Bangladesh. It analyzes the existing literature on the benefits of derivatives, their role in risk management, and their impact on market efficiency. It also examines the regulatory framework and the challenges facing the development of a derivatives market in Bangladesh. The paper suggests that the introduction of derivatives in Bangladesh can lead to a more robust and efficient financial market, with substantial benefits for both investors and the broader economy. However, to ensure the successful implementation of a derivatives market, policymakers must address the challenges associated with market infrastructure, investor education, and regulatory oversight. The paper provides insights for policymakers, academics, and practitioners interested in the development of financial markets in emerging economies.

Using Strategic Leadership and DMAIC to Transform a Global Hospitality Market Leader: A Case Study

Kristian Pultz Schlosser, Scott Roach — Thu, 21 Dec 2023 00:00:00 +0700

This paper chronicles the transformations undertaken by outside help to turn XYC company’s status from AAA’s company worst performer to most successful partner worldwide. A more than two-year problem had senior management at XYC Company struggling to find the answer to what was causing them to potentially lose their largest client, AAA company, and stem the tide of employees leaving the company. This led XYC to seek outside help in the form of a consultant to address the problem. The objective of the research is to report and analyze the steps taken to identify and mitigate the root causes of these problems and find effective solutions to improve both customer satisfaction and reducing employee turnover and therefore keep a critical client, AAA. The Six-Sigma methodology DMAIC (Define, Measure, Analyze, Improve and Control) was selected as the process improvement framework. As a DMAIC tool, the Net Promoter Score (NPS) was used to assess the business problem (low NPS) which pointed to additional data that was collected using a lean approach for analysis. Over the three-months allotted for improvement, the researchers refined the process and implemented a highly effective analytical approach and solution design. The end results showed substantial improvements in customer- and employee satisfaction, NPS scores and employee efficiency. These solutions and the transformational leadership approach were then implemented across XYC companies globally, resulting in large-scale transformations in work process and culture.

Digital Business Innovation in 21st- Century Thailand

Kosol Jitvirat — Thu, 21 Dec 2023 00:00:00 +0700

This research aims to study the characteristics of digital business innovation in the 21^st century. It is qualitative research that relies on content analysis methods together with the use of a content management system (CMS) to conduct research. Using content analysis methods to identify trends and patterns in the data to evaluate and identify content performance insights, and content customization. The content management system is used to test and verify new business ideas and innovations, content creation and curation, data collection, and analysis, and idea testing and optimization of business and innovations, and bring the information that has been analyzed together with inductive analysis method combined with comparative event analysis to check the credibility of the data by a triangular check. The findings appear to be in the same direction, therefore, the body of knowledge discovered is something that has been repeatedly proven until the information obtained is a necessary condition, and sufficient to conclude the truth. The research results revealed that digital business innovations consist of artificial intelligence and machine learning technology, the internet of things, blockchain, cloud computing, digital marketing, augmented reality, virtual reality, big data, and 3D printing.

An Empirical Analysis of the relationship between Motivation-Mediated Incentive and Sales Performance in the Malaysian IT Industry

Raymond Teh — Thu, 21 Dec 2023 00:00:00 +0700

This research aims to investigate whether incentive, mediated by motivation, drives higher sales performance in Malaysia’s IT industry. Numerous studies have investigated the influence of incentive and motivation in delivering better work performance, but not many have researched whether incentive, with motivation as a mediator, can drive higher sales performance, especially in Malaysia’s IT industry. The conceptual framework in this study was formulated based on the Incentive Theory of Motivation, Maslow’s Hierarchy of Needs Theory, and Herzberg’s Two-Factor Theory. Online questionnaires were distributed to targeted salespeople in Malaysia’s IT industry and total of 311 respondents answered the survey. All four hypotheses regarding the impact on sales performance were accepted including the moderating variable. This study helps sales organizations especially in Malaysia’s IT industry by providing holistic insights into how incentive, with motivation as a mediator, could drive higher sales performance. The conceptual framework could be fleshed out even more in future work such as what type of incentive and motivation will have a stronger impact on sales performance and the mediating effect of motivation could be further analyzed whether it has a short-term mediating effect or a long-term mediating effect on sales performance, as this could help organizations to plan an effective and appropriate incentive program.

Applying the Analytical Hierarchy Process (AHP) and Delphi Method to Identify the Criteria for Selection of Healthcare Chatbot in Thailand

Sirirak Phooriyaphan, Natworapol Rachsiriwatcharabul — Thu, 21 Dec 2023 00:00:00 +0700

Today , Healthcare chatbot market is growing rapidly in Thailand. Chatbot for the healthcare industry is used for many purposes such as share information for the recommend health, schedule appointment, check symptoms and refer to a doctor, and attract patient . Healthcare chatbot can reduce cost , time and improve patient satisfaction . The research gap is found that in the previous time, healthcare only made decision for selecting chatbot by own opinions in the organization with several criteria. Therefore, the objective of this research is to investigate the criteria that used for selection chatbot in healthcare. This research is to weight the significant weight of criteria which help healthcare to make a better decision under multi criteria situation .The objective of this research is to prepare a model for the selection of healthcare chatbot in Thailand by applied two methods of an analytical hierarchy process (AHP) and Delphi method to improve the reliability of decisions .Firstly, The criteria affecting the selection of chatbot are collected from literature review and opinion of experts. The obtained criteria are analyzed by using the concept of IOC and Delphi method then the remain criteria are categorized and structured based on the concept of AHP. The questionnaires are constructed and distributed to 9 experts. Three main selection criteria were identified. The result shows that the most significant success criterion is Security and privacy with 42.% . The second and the third significant go to User satisfaction 34% and System design 24% respectively.

BOOK REVIEW Brand Singapore: Nation Branding in a World Disrupted by Covid-19 (3rd Edition)

Thittapong Daengrasmisopon — Thu, 21 Dec 2023 00:00:00 +0700

Brand Singapore: Nation Branding in a World Disrupted by Covid-19 is a success story written by Koh Buck Song in which he describes how the small island country of Singapore can use nation branding strategies to develop itself into the world renowned Lion City. Following the first two editions, namely Brand Singapore: How Nation Branding Built Asia's Leading Global City (Koh, 2011) and Brand Singapore: Nation Branding after Lee Kuan Yew, in a Divisive World (Koh, 2017), this third edition continues the previous classic brand story by providing additional viewpoints on how the nation might look into refreshing its brand direction after the Covid-19 pandemic amid the rise of social media. The author is a Singaporean brand advisor, author, and editor who has been involved with the nation branding of Singapore for many years. There are seven chapters plus an introduction, endnotes, an index and a section about the author. Each chapter provides an in-depth analysis of the real-world case study of Singapore in various aspects of its brand-building strategy.

Guideline for Authors

Phatrakul Phaewprayoon — Fri, 22 Dec 2023 00:00:00 +0700

Guideline for Authors