IMPROVING BUSINESS EFFICIENCY IN COSMETOLOGY INSTITUTIONS
Abstract
Krupskyi O.P., Stasiuk Yu.M., Huk O.O. IMPROVING BUSINESS EFFICIENCY IN COSMETOLOGY INSTITUTIONS
Purpose. The aim of the article is to develop recommendations for improving business efficiency in cosmetology institutions through the introduction of modern management approaches and technologies.
Methodology of research. The study was conducted using a comprehensive approach that included both quantitative and qualitative research methods. In particular, the analysis of statistical data was used to assess the market of cosmetology services and its dynamics, which allowed us to identify key trends and performance indicators of institutions. Surveys of experts in the field of cosmetology and management were used to collect opinions on the implementation of modern management practices and digital technologies in cosmetology institutions. Case studies of cosmetology institutions were conducted to analyse real-life examples of the implementation of automation systems, artificial intelligence and marketing tools, which allowed us to identify the most successful practices and assess their impact on increasing profitability and competitiveness.
Findings. It was found that the main factors affecting the efficiency of cosmetology institutions are innovative management practices, effective use of digital technologies and adaptation to new marketing trends. It has been established that the introduction of business process automation systems, improvement of marketing strategies and the use of artificial intelligence can significantly increase the profitability and competitiveness of institutions.
Originality. The results of the study have introduced new aspects to the understanding of management practices in the cosmetology business, in particular, effective strategies for implementing digital technologies and marketing tools have been identified. The importance of artificial intelligence in optimizing business processes and improving customer interaction is shown.
Practical value. The practical recommendations developed in the study can be used by cosmetology institutions to improve the efficiency of their activities. The recommendations include the introduction of modern management practices, digital tools and adaptation to new marketing trends, which will allow institutions to increase their competitiveness and profitability.
Key words: cosmetology institutions, management practices, digital technologies, marketing strategies, business efficiency, artificial intelligence.
Keywords
Full Text:
References
Vytyshchenko, V. (2020), “How to increase the average check in a store: 7 proven methods + upselling and cross-selling techniques”, available at: https://torgsoft.ua/articles/stati/kak-uvelichit-srednij-chek/ (access date July 27, 2024).
Hromtseva, D.K., and Krupskyi, O.P. (2015), “Professional culture and security: an innovative approach to implementing a medical facility”, European Journal of Management Issues, no. 5, pp. 15-23, DOI: https://doi.org/10.15421/191517.
Karpiuk, Z., Krupskyi, O. and Stasiuk, Yu. (2023), “Prospects for the Development of Social Responsibility Based on the Experience of Global Pharmaceutical Companies”, Vcheni zapysky Universytetu “KROK”, no. 1(69), pp. 136-151, DOI: https://doi.org/10.31732/2663-2209-2022-69-9-136-151.
Abdullaev, K.N., Alieksieiev, V.I., Almashii, Ya.I. et al. (2015), Korporatyvne upravlinnia: protsesy, stratehii, tekhnolohii [Corporate governance: Processes, strategies, technologies], coll. monograph, Helvetyka, Kherson, Ukraine, 536 p.
Krupskyi, O.P., Vorobiova, V.V. and Stasiuk, Yu.M. (2023), “Prospects for using GPT chat in marketing”, Chasopys ekonomichnykh reform, Vol. 3, no. 51, pp. 89-97, DOI: https://doi.org/10.32620/cher.2023.3.11.
Krupskyi, O. and Stasiuk, Yu. (2023), “Organization of the corporate style of the medical institution: functions and components”, Chasopys ekonomichnykh reform, Vol. 1, no. 49, pp. 87-95, DOI: https://doi.org/10.32620/cher.2023.1.11.
Krupskyi, O.P., Stasiuk, Yu.M., Hromtseva, O.V. and Lubenets, N.V. (2022), “The Influence of Emotional Labor of Family Doctors on their Well-Being and Job Satisfaction”, European Journal of Management Issues, Vol. 30, no. 4, pp. 215-223, DOI: https://doi.org/10.15421/192218.
Laser hair removal of legs in Dnipro, available at: https://barb.ua/uk/dnepr/udalenie-volos/epilyatsiya/lazernaya/nogi (access date August 13, 2024).
Nikitina, Zh. (2023), “Development and prospects of the cosmetic market in Ukraine”, Academy of Cosmetic Chemistry, available at: https://jnacademy.com.ua/blog/281-cosmetic-market-in-ukraine (access date July 27, 2024).
Pylypenko, S.M. (2016), “Theoretical foundations of enterprise performance evaluation”, Hlobalni ta natsionalni problemy ekonomiky, no. 10, pp. 452-456, available at: http://global-national.in.ua/archive/10-2016/94.pdf (access date July 27, 2024).
Khomenko, H.Yu., Myroshnychenko, I.P. and Chudesnikova, A.O. (2021), “Analysis of the company's activities: performance indicators and their impact on business value”, Topical issues of modern science, society and education: Proceedings of the 6th International scientific and practical conference (Kharkiv, 26-28 December 2021), Kharkiv, Ukraine, pp. 1697-1701.
Delen, D., Dorokhov, O., Dorokhova, L. et al. (2020), “Balanced scorecard-based analysis of customer expectations for cosmetology services: a hybrid decision modeling approach”, Journal of Management Analytics, Vol. 7(4), pp. 532-563, DOI: https://doi.org/10.1080/23270012.2020.1818319.
Chang, W.-J., Liao, S.-H., Chung, Y.-C. and Chen, H.-P. (2018), “Service quality, experiential value and repurchase intention for medical cosmetology clinic: moderating effect of Generation”, Total Quality Management & Business Excellence, Vol. 31(9–10), DOI: https://doi.org/10.1080/14783363.2018.1463156.
Chatterjee, S., Divesh, G., Atul, P. and Jiwan, S. (2021), “Exploring healthcare/health-product ecommerce satisfaction: A text mining and machine learning application”, Journal of Business Research, Vol. 131, pp. 815-825, DOI: https://doi.org/10.1016/j.jbusres.2020.10.043.
Coelho, M.C.C.D. (2024), AI-driven personalization in beauty retail: Exploring how AI-based applications influence customer satisfaction and brand loyalty, Master's dissertation, IPAM – Porto, available at: https://comum.rcaap.pt/handle/10400.26/51357 (access date June 20, 2024).
Cunha, M.N. and Krupskyi, O.P. (2023), “When the sensory world is set aside! the new fantastic world of luxury”, Economics: Time Realities, Vol. 70, no. 6, pp. 44–53, DOI: https://doi.org/10.15276/etr.06.2023.6.
Fortunati, S., Martiniello, L. and Morea, D. (2020), “The strategic role of the corporate social responsibility and circular economy in the cosmetic industry”, Sustainability, Vol. 12, no. 12, P. 5120, DOI: https://doi.org/10.3390/su12125120.
Herman, L.E., Sulhaini, S. and Farida, N. (2021), “Electronic customer relationship management and company performance: Exploring the product innovativeness development”, Journal of Relationship Marketing, Vol. 20, no. 1, pp. 1-19, DOI: https://doi.org/10.1080/15332667.2019.1688600.
Subagja, A.D., Ausat, A.M.A., Sari, A.R. et al. (2023), “Improving customer service quality in MSMEs through the use of ChatGPT”, Jurnal Minfo Polgan, Vol. 12, no. 1, pp. 380-386, DOI: https://doi.org/10.33395/jmp.v12i1.12407.
Kim, S.M. and Park, M.J. (2020), “Evaluation of cross-national global market segmentation and strategy: The case of Korean Wave for ASEAN countries”, Asia Pacific Management Review, Vol. 25, no. 4, pp. 207-215, DOI: https://doi.org/10.1016/j.apmrv.2020.04.001.
Kim, Y.J., Lee, J.H., Lee, S.G. and Lee, H.H. (2021), “Developing sustainable competitive strategies in the beauty service industry: a SWOT-AHP approach”, Sustainability, Vol. 13, no. 19, 10852, DOI: https://doi.org/10.3390/su131910852.
Ma, Y. and Kwon, K.H. (2021), “Changes in purchasing patterns in the beauty market due to Post–COVID–19: Literature review”, Journal of cosmetic dermatology, Vol. 20, no. 10, pp. 3074-3079, DOI: https://doi.org/10.1111/jocd.14357.
Trachenko, L., Lazorenko, L., Maslennikov, Ye. et al. (2021), “Optimization modeling of business processes of engineering service enterprises in the national economy”, Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, no. 4, pp. 165-171, DOI: https://doi.org/10.33271/nvngu/2021-4/165.
Parkhomenko, N. and Denysiuk, O. (2023), “Trends in the development of the World and Ukrainian Markets of Cosmetic Products”, Modern Economics, Vol. 38(2023), pp. 125-131, DOI: https://doi.org/10.31521/modecon.V38(2023)-19.
Radicic, D. and Petković, S. (2023), “Impact of digitalization on technological innovations in small and medium-sized enterprises (SMEs)”, Technological Forecasting and Social Change, Vol. 191, pp. 122474, DOI: https://doi.org/10.1016/j.techfore.2023.122474.
Reshetnikova, I.L. and Sahaidak, M.P. (2016), “The impact of the economic crisis on domestic consumers behavior and perception of innovation”, Marketing and Management of Innovations, Vol. 4, pp. 191-205, DOI: https://doi.org/10.21272/mmi.2016.4-16.
Statista (2024), “Beauty and personal care market value worldwide from 2018 to 2028”, available at: https://www.statista.com/statistics/550657/beauty-market-value-growth-worldwide-by-country/ (access date July 25, 2024).
Vrublevskaia, O. (2021), “Effectiveness and Universality of Artificial Intelligence Implementation in Marketing Media Industry and Cosmetics Industry”, THESEUS, available at: https://urn.fi/URN:NBN:fi:amk-2021061015668 (access date July 27, 2024).
Walter, A.T. (2021), “Organizational agility: ill-defined and somewhat confusing? A systematic literature review and conceptualization”, Management Review Quarterly, Vol. 71, pp. 343-391, DOI: https://doi.org/10.1007/s11301-020-00186-6.
Watanabe, N.M., Kim, J. and Park, J. (2021), “Social network analysis and domestic and international retailers: An investigation of social media networks of cosmetic brands”, Journal of Retailing and Consumer Services Journal of Retailing and Consumer Services, Vol. 58, pp. 102301, DOI: https://doi.org/10.1016/j.jretconser.2020.102301.
Refbacks
- There are currently no refbacks.
INNOVATIVE ECONOMY 2006 - 2025