International Journal of Business and Economics

IMPACT ASSESSMENT OF MACHINE LEARNING ALGORITHMS ON RESOURCE EFFICIENCY AND MANAGEMENT IN URBAN DEVELOPMENTS

Md Arif Hossain, Md Samiul Alam Mazumder, Md Hasanujamman Bari & Rafsan Mahi — 2024-05-01

Urban centers face the mounting challenge of balancing resource demands with sustainable practices in the face of population growth and environmental concerns. Machine learning (ML) has emerged as a transformative technology with the potential to optimize resource efficiency and management within urban environments. This article investigates the multifaceted impact of ML algorithms on enhancing resource management and the associated challenges and considerations. It delves into successful ML applications in vital urban sectors, including smart grids, water conservation, and intelligent transportation systems. Through the analysis of case studies, the article quantifies improvements in resource efficiency and highlights the contributions of ML to data-driven decision-making. Crucially, it emphasizes the need for a holistic approach, addressing computational costs, data bias, privacy concerns, and ethical considerations to ensure the responsible and equitable deployment of ML. The article concludes by underscoring the ongoing evolution of ML and its pivotal role in shaping sustainable and resilient urban futures.

INTEGRATING ENTERPRISE RISK MANAGEMENT (ERM): STRATEGIES, CHALLENGES, AND ORGANIZATIONAL SUCCESS

Md Rasel Ul Alam, Asif Shohel & Mahmudul Alam — 2024-05-01

Implementing Enterprise Risk Management (ERM) is pivotal for organizations striving to navigate and excel within increasingly complex and volatile business environments. This paper explores the core principles of ERM and underscores its crucial role in achieving organizational objectives by enhancing decision-making, risk awareness, and resilience. It highlights the benefits and challenges of ERM implementation, with a strong emphasis on the empowering role of leadership in this process. It also emphasizes the necessity for strategic resource allocation, and effective integration into organizational processes. Additionally, the paper examines key factors that contribute to the success of an ERM program, such as adaptability and continuous improvement. Through real-world case studies, the paper illustrates how successful ERM implementation can significantly benefit organizations, demonstrating quantifiable improvements in operational performance and strategic outcomes. These discussions aim to provide a comprehensive understanding of the importance of ERM in modern business practices, advocating for its widespread adoption and continuous evolution to meet emerging business challenges.

CONSUMER PERCEPTIONS AND PURCHASING TRENDS OF ECO-FRIENDLY TEXTILE PRODUCTS IN THE U.S. MARKET

2024-05-13

The textile industry is undergoing a remarkable transformation due to the global push towards sustainability. This research explores consumer perceptions and purchasing trends regarding eco-friendly textile products in the U.S. market. A structured survey was conducted among 1,000 adult U.S. consumers to identify key factors influencing purchasing decisions and provide insights into the textile industry. The findings reveal broadly positive consumer perceptions of eco-friendly textiles, driven by environmental awareness, social responsibility, and health considerations. However, challenges remain regarding affordability and availability, limiting widespread adoption. Different consumer segments—Green Enthusiasts, Pragmatic Purchasers, and Skeptical Shoppers—require tailored strategies to address their unique preferences and barriers. Recommendations include investing in sustainable supply chains to reduce production costs, collaborating with certification bodies to build consumer trust, and leveraging digital platforms for consumer education. Future research directions include exploring shifts in sustainability perceptions due to COVID-19, comparative studies across generations, and global market analysis to uncover cultural influences on sustainable fashion.