The Impact of Project Activities on the International Business Development
Abstract
The impact of project activities on the international business development is an urgent issue in view of the increasing global expansion and intensifying competition between companies. The aim of the study is to assess the impact of project activities on the international business development. The research methodology is based on the analysis of modern trends in the development of international business using econometric modelling, statistical analysis, and extrapolation. The impact of project activities on business expansion was determined and the use of Agile and PMBOK methodologies was assessed. The obtained results show the experience of international companies in the use of project methodologies, which increased by 20% in 2023 compared to 2022. The study found that project activities have a significant impact on the international business development thanks to the support of bank lending. The results show that the effective use of project methodology optimize production processes and reduce costs in international business. The available results emphasize the importance of strategic project management for the successful development of enterprises on the international market using the example of Azerbaijan. The research findings indicate the effective practice of applying innovative technologies in project activities with the help of Agile for international business development. A comparative analysis of management approaches objectively determines the advantages, which include the promptness of decision-making, ensuring organizational efficiency. Further research into project management methods in international business will contribute to the improvement of management practices and the development of strategies that meet the modern globalization challenges.
References
[2] Armadani, P., et al. (2023). Implementation of Merdeka Belajar curriculum in students of SMA Negeri 1 Junjung Sirih. Jurnal Ilmiah Wahana Pendidikan, 1(9): 341–347. DOI:https://doi.org/10.5281/zenodo.7527654
[3] Aulia, Surayya, and Cipta, Hendra. (2023). Network planning analysis using CPM and PERT methods on optimization of time and cost. Sinkron, 8(1): 171–177. DOI: https://doi.org/10.33395/sinkron.v8i1.11961
[4] Başaran, M., and Bay, E. (2023). The effect of project-based STEAM activities on the social and cognitive skills of preschool children. Early Child Development and Care, 193(5): 679–697. DOI:https://doi.org/10.1080/03004430.2022.2146682
[5] Berntsson Svensson, R., and Torkar, R. (2024). Not all requirements prioritization criteria are equal at all times: A quantitative analysis. Journal of Systems and Software, 209: 111909. DOI:https://doi.org/10.1016/j.jss.2023.111909
[6] Bielialov, Taliat, et al. (2019). Formation of a graduate system for assessing professional activities in the entrepreneurship education system. Journal of Entrepreneurship Education, 22(1). Available at: https://www.abacademies.org/articles/Formation-graduate-system-for-assessing-professional-activities-1528-2651-22-S1-342.pdf
[7] Buber, A., and Unal Coban, G. (2023). STEM project-based activity: bio-efficacy of microalgae. Science Activities 60(2): 71–89. DOI: https://doi.org/10.1080/00368121.2023.2168246
[8] Bui, Thi-Lam, et al. (2023). Dataset of Vietnamese preschool teachers’ readiness towards implementing STEAM activities and projects. Data in Brief 46. DOI: https://doi.org/10.1016/j.dib.2022.108821
[9] Cheng, C.-Y., Kao, C.-P., Hsu, T.-W., and Lin, K.-Y. (2023). A study of the feasibility of a cross-college curriculum based on the experience of student cooperation. International Journal of Technology and Design Education, 33(1): 23–37. DOI: https://doi.org/10.1007/s10798-022-09752-3
[10] Chiou, R.Y., and Tseng, T.-L. B. (2023). Implementing Virtual reality project activities for enhancing student learning experience in robotics and automation. ASEE Annual Conference and Exposition, Conference Proceedings, June 25, in Baltimore, Maryland. DOI: https://doi.org/10.18260/1-2--43563
[11] Golab, A., et al. (2023). A convolutional neural network for the resource-constrained project scheduling problem (RCPSP): A new approach. Decision Science Letters, 12(2): 225–238. DOI:https://doi.org/10.5267/j.dsl.2023.2.002
[12] Humeniuk, A. (2023). Fundraising as a means of raising financial resources for project activities. Sustainable Socio-Economic Development Journal, 1(3–4): 123–130. DOI: https://doi.org/10.31499/2786-7838.ssedj.2023.1(3-4).123-130
[13] Issa, S. B., Patterson, R.A., and Tu, Y. (2023). Solving resource-constrained project scheduling problems under different activity assumptions. Computers and Industrial Engineering, 180. DOI:https://doi.org/10.1016/j.cie.2023.109170
[14] Jeremiah, V. M., Athman, K. A., and Devotha, B. M. (2023). Relationship between project benefits and sustainability of activities: a comparative analysis of selected donor-funded agriculture-related projects in Tanzania. Kampala International University Interdisciplinary Journal of Humanities and Social Sciences, 4(1): 1–23. DOI: https://doi.org/10.59568/kijhus-2023-4-1-01
[15] Kanski, L., Budzynska, K., and Chadam, J. (2023). The impact of identified agility components on project success - ICT industry perspective. PLoS ONE 18(3). DOI: https://doi.org/10.1371/journal.pone.0281936
[16] Lindner, R., Hernantes, J., and Jaca, C. (2023). Increasing stakeholder engagement in research projects through standardization activities. International Journal of Managing Projects in Business, 16(4–5): 664–685. DOI: https://doi.org/10.1108/IJMPB-11-2022-0253
[17] Liora, N., et al. (2023). A methodology for carbon footprint estimations of research project activities—a scenarios analysis for reducing carbon footprint. Atmosphere 14(1): 6. DOI:https://doi.org/10.3390/atmos14010006
[18] Malik, K. M., and Zhu, M. (20230. Do project-based learning, hands-on activities, and flipped teaching enhance student’s learning of introductory theoretical computing classes? Education and Information Technologies 28(3): 3581–3604. DOI: https://doi.org/10.1007/s10639-022-11350-8
[19] Marzouk, M. and Hamdala, D. (2024). Phasing real estate projects considering profitability and customer satisfaction. Engineering, Construction and Architectural Management. Ahead of print. DOI:https://doi.org/10.1108/ECAM-12-2022-1146
[20] Muller, O. Y. (2023). Model of civic consciousness formation in students with project activity. Psychological-Pedagogical Journal Gaudeamus, 2: 73–80. DOI: https://doi.org/10.20310/1810-231x-2023-22-2-73-80
[21] Nikonenko, U., et al. (2022). Assessing the Policy of Attracting Investments in the Main Sectors of the Economy in the Context of Introducing Aspects of Industry 4.0. International Journal of Sustainable Development and Planning, 17(2): 497-505. DOI: https://doi.org/10.18280/ijsdp.170214
[22] Pepin, M., Tremblay, M., Audebrand, L.K., and Chassé, S. (2024). The responsible business model canvas: Designing and assessing a sustainable business modeling tool for students and start-up entrepreneurs. International Journal of Sustainability in Higher Education, 25(3): 514–538. DOI:https://doi.org/10.1108/IJSHE-01-2023-0008
[23] Pérez-Guerra, C.L., et al. (2023). Community perceptions on challenges and solutions to implement an Aedes aegypti control project in Ponce, Puerto Rico (USA). PLoS ONE 18(4). DOI:https://doi.org/10.1371/journal.pone.0284430
[24] Pratiwi, N., Nurani, Y., and Novianti, R. (2023). Implementation of project-based play activities in early childhood character stimulation. JIV-Jurnal Ilmiah Visi, 18(2): 126–130. DOI:https://doi.org/10.21009/jiv.1802.7
[25] Risqi, F., Umasih, U., and Fakhruddin, M. (2023). Implementation of project-based learning in history lesson on Kurikulum Merdeka at SMA Labschool Jakarta. EDUTEC : Journal of Education and Technology 7(1): 221–235. DOI: https://doi.org/10.29062/edu.v7i1.736
[26] Sudarsan, J. S., Koteeshwari, R., and Nithiyanantham, S. (20230. Assessment of influencing factors in selecting effective mobile applications - a drive toward automation in construction projects. Modeling Earth Systems and Environment, 9(3): 3747–3754. DOI: https://doi.org/10.1007/s40808-022-01682-2
[27] Ukah, Y., Ayewu, C., and Oworu, P. (2023). Improving students’ language learning through project-based learning activities. JELITA: Journal of English Language Teaching and Literature 4(1): 9–23.
[28] Usman, U., et al. (2023). Project to strengthen Pancasila student profile as an application of differentiated learning in the independent curriculum: A case study at a senior high school in Pandeglang, Indonesia. Jurnal Pendidikan Indonesia Gemilang, 3(1): 103–113. DOI: https://doi.org/10.53889/jpig.v3i1.159
[29] Vaseghi, F., and Vanhoucke, M. (2023). A comparison of activity ranking methods for taking corrective actions during project control. Computers and Industrial Engineering, 183. DOI:https://doi.org/10.1016/j.cie.2023.109505
[30] Vazquez, A., Pozzana, I., Kalogridis, G., and Ellinas, C. 2023. Activity networks determine project performance. Scientific Reports, 13(1). DOI: https://doi.org/10.1038/s41598-022-27180-0
[31] Willems, J. J., et al. (2023). The lifecycle of public value creation: eroding public values in the Dutch Marker Wadden project. Public Money and Management, 43(2): 116–125. DOI:https://doi.org/10.1080/09540962.2021.1896557
[32] Yang, D., Snelson, C., and Feng, S. (2023). Identifying computational thinking in students through project-based problem-solving activities. Information Discovery and Delivery, 51(3): 293–305. DOI:https://doi.org/10.1108/IDD-09-2022-0091
[33] Zhylin, M., et al. (2023). The impact of emotional intelligence on the psycholinguistic peculiarities of speech. Multidisciplinary Science Journal 6(5): 2024061. DOI: https://doi.org/10.31893/multiscience.2024061
[34] Deloitte. (2022). Business Outlook in Azerbaijan. Available at: https://www2.deloitte.com/content/dam/Deloitte/az/Documents/risk/ENG-BusinessOutlook2023.pdf
[35] OECD. (2024). G20 International Trade Statistics. Available at: https://www.oecd.org/sdd/its/International-trade-statistics-Q4-2023.pdf
Non-Exclusive License under Attribution 4.0 International Public License (CC BY 4.0):
This ‘Article’ is distributed under the terms of the license CC-BY 4.0., which lets others distribute, remix, adapt, and build upon this article, even commercially, as long as they credit this article for the original creation. ASERS Publishing will be acknowledged as the first publisher of the Article and a link to the appropriate bibliographic citation (authors, article title, volume issue, page numbers, DOI, and the link to the Published Article on ASERS Publishing’ Platform) must be maintained.