Saeed, Sa ka Ahmed; Abas, Sa o Rezhan; Abdulka im, Nada Bashi
A icle
In eg a ion o en ep eneu ship and ma ke ing esea ch
in mode n business
Economic Fo um
P o ided in Coope a ion wi h:
Lu sk Na ional Technical Uni e si y
Sugges ed Ci a ion: Saeed, Sa ka Ahmed; Abas, Sa o Rezhan; Abdulka im, Nada Bashi (2024) :
In eg a ion o en ep eneu ship and ma ke ing esea ch in mode n business, Economic Fo um,
ISSN 2415-8224, Lu sk Na ional Technical Uni e si y, Lu sk, Uk aine, Vol. 14, Iss. 4, pp. 22-31,
h ps://doi.o g/10.62763/e /4.2024.22
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In eg a ion o en ep eneu ship
and ma ke ing esea ch in mode n business
Sa ka Ahmed Saeed*
Lec u e
Uni e si y o Halabja
Ababile Village, Halabja Ci y, Ku dis an Region, I aq
h ps://o cid.o g/0000-0003-0134-2371
Sa o Rezhan Abas
Bachelo
Uni e si y o Halabja
Ababile Village, Halabja Ci y, Ku dis an Region, I aq
h ps://o cid.o g/0009-0003-7579-6234
Nada Bashi Abdulka im
Bachelo
Uni e si y o Halabja
Ababile Village, Halabja Ci y, Ku dis an Region, I aq
h ps://o cid.o g/0009-0007-6726-1503
Sugges ed Ci a ion:
Saeed,S.A., Abas, S.R., & Abdulka im, N.B. (2024). In eg a ion o en ep eneu ship and ma ke ing esea ch in mode n business.
Economic Fo um, 14(4), 22-31. doi:10.62763/e /4.2024.22.
Copy igh © The Au ho (s). This is an open access a icle dis ibu ed unde he e ms o he
C ea i e Commons A ibu ion License 4.0 (h ps://c ea i ecommons.o g/licenses/by/4.0/)
*Co esponding au ho
Abs ac . Mode n business in ol es unning ope a ions in line wi h con empo a y changes and adap ing
acco dingly. This s udy emphasised he impo ance o cus ome pe spec i es and needs, ocusing on g ow h
and sus ainabili y amid compe i ion. This a icle examined he ole and impac o wo key ac o s in business
mode nisa ion: en ep eneu ship and ma ke esea ch. The esea ch aimed o enhance unde s anding o mode n
business, he ac o s con ibu ing o i s e olu ion, and he signi icance o managemen and ma ke esea ch
in bene i ing companies. The applica ion and impo ance o hese wo concep s in business p omo ion we e
explo ed. A su ey was conduc ed bo h online and manually h ough Google Fo ms, employing a quan i a i e
me hodology. Da a we e collec ed om a ious demog aphic g oups wi hin he Ku dis an Region, co e ing
di e en adminis a i e posi ions and age g oups anging om unde 25 o o e 45. A o al o 155 alid esponses
we e ob ained h ough simple andom sampling. The da a we e analysed using he S a is ical Package o he
Social Sciences and examined h ough co ela ion and eg ession models. The indings indica ed ha bo h
en ep eneu ship and ma ke esea ch o be posi i ely impac business. This sugges ed ha Ku dish people
ecognise hese wo concep s as essen ial o business success. The esea ch con ibu ed no el insigh s in e ms
o opic ocus and concep o ganisa ion, dis inguishing i om p e ious s udies and inco po a ing up- o-da e
in o ma ion. Compa a i e analysis based on egional o economic indica o s can p o ide a deepe unde s anding
o how cul u al and economic ac o s in luence egional de elopmen and economic condi ions
Keywo ds: business de elopmen ; business o ganisa ion; ma ke analysis; en ep eneu ial de elopmen ; eg ession
ECONOMIC FORUM
Jou nal homepage: h ps://e- o um.com.ua/en
Vol. 14, No. 4, 2024, 22-31
A icle’s His o y: Recei ed: 01.07.2024 Re ised: 13.09.2024 Accep ed: 10.10.2024
UDC 332.7 Doi: 10.62763/e /4.2024.22
In oduc ion
Since he 1970s, business ac i i y has g own d ama -
ically. In he mode n wo ld, business plays a i al ole
ac oss a wide ange o indus ies, om small en e p ises
o la ge co po a ions, impac ing economic g ow h, de-
elopmen , and socie y as a whole. T ade has d i en an
inc ease in p oduc s, se ices, capi al, ideas, and skilled
Saeed e al.
Economic Fo um, 2024, Vol. 14, No. 4
23
and challenges. Thus, p uden en ep eneu s mus ha e
a plan in place o manage hese isks e ec i ely o p e-
en hei business om ailing ins ead o gene a ing
p o i (Diand a & Azmy,2020).
When conduc ed e ec i ely, ma ke esea ch can
signi ican ly enhance business p ocesses. Gi en he
compe i i e na u e o he business en i onmen , e e y
e o mus be made o maximise business ad an ages.
Conduc ing ma ke esea ch is among he mos c ucial
aspec s o business s a egy, as i enables a deepe un-
de s anding o consume beha iou . Wi hou ma ke
esea ch, businesses canno ope a e e ec i ely. Ma ke
esea ch connec s cus ome s, buye s, and he gene al
public wi h businesses by p o iding in o ma ion ha
helps iden i y challenges and oppo uni ies in ma ke -
ing, de elop and e ine ma ke ing s a egies, and assess
ma ke pe o mance. N.K.Malho ae al.(2020) empha-
sised ha cus ome needs we e mo e easily me , and e-
la ionships wi h hem we e mo e e ec i ely de eloped,
when ma ke esea ch was employed o iden i y ma ke
shi s and he la es p o i able consume demands. I also
helped iden i y oppo uni ies o make mo e s a egic de-
cisions ha enhance a company’s compe i i e edge. This
esea ch aimed o es ablish he ela ionship be ween
mode n business p ac ices, he echniques implemen -
ed, and he e iciency o business p ocedu es in achie -
ing he desi ed ou comes. One o he mos impo an
aspec s o co po a e success is en ep eneu ship, which
also d i es inno a ion and cos con ol. I is an essen-
ial ac o in helping mode n o ganisa ions su i e and
h i e, pa icula ly in a echnologically ad anced global
en i onmen . When execu ed e icien ly, ma ke e-
sea ch can assis businesses in unde s anding consum-
e demand and enhancing sel -p omo ion, u he ein-
o cing i s necessi y in business s a egy. Consequen ly,
a i m’s pe o mance depends on he in e connec ed
oles o ma ke ing esea ch and en ep eneu ship.
The s udy aimed o explo e he po en ial o in e-
g a ing ma ke ing esea ch in o decision-making o
enhance p oduc i i y in mode n businesses. The hy-
po heses o he s udy we e: H1– en ep eneu ship has
a signi ican posi i e impac on mode n business; H2–
ma ke ing esea ch has a signi ican posi i e impac on
mode n business; H3– en ep eneu ship and ma ke ing
esea ch oge he ha e a signi ican posi i e impac on
mode n business.
Li e a u e Re iew
Business is undamen al o bo h economic expansion
and ans o ma ion. Apa om gene a ing e enue and
engaging in buying and selling, i c ea es employmen ,
p oduces goods, and p o ides se ices. As a esul , mod-
e nising and adap ing o con empo a y ci cums ances is
c ucial. In i s mode n o m, businesses ope a e wi hin
an inc easingly complex en i onmen . Nume ous ele-
men s, including ma ke esea ch and en ep eneu -
ship, in luence mode n business. This s udy examined
p o essionals globally, all wi h he aim o gene a ing
p o i o d i ing socie al change. Con e sely, business
is he coo dina ed e o o indi iduals o manu ac u e
and p o ide goods and se ices o mee socie al needs.
A b oad de ini ion o business encompasses bo h
o -p o i and no o p o i o ganisa ions, such as hospi-
als, schools, and cha i ies, as well as p o i -d i en busi-
nesses like co po a ions and banks. En e p ises ope a e
ac oss di e se sec o s, including manu ac u ing, e ail,
inance, media, en e ainmen , anspo a ion, and
banking, as no ed by D. Needle & J.Bu ns (2019) and
N.Rollings(2021).
Businesses mus adap o hei e e -changing en-
i onmen o emain compe i i e. This equi es many
businesses and o ganisa ions o abandon ou da ed
models and adop new app oaches. The business en-
i onmen is o en mo e impo an han he business
i sel . T adi ional businesses canno simply ans o m
in o mode n businesses; hey mus implemen a ied
managemen s a egies o compe e success ully in he
ma ke place. A business en e s a complex en i onmen ,
when i seeks o in eg a e in o he con empo a y eco-
nomic landscape. Acco ding o M. Saunila (2016) and
B.Kuma & A.Sha ma(2022), mode n business in ol ed
adap ing o he cu en en i onmen and implemen ing
s a egies o mode nisa ion. These s a egies included
ha ing a clea ision, adop ing cu ing-edge echnolo-
gies, inno a ing, and eaching new cus ome s h ough
ad anced compe i i e echniques.
Resea che S.A.Saeed(2017) no ed ha he mod-
e n wo ld unde goes cons an ansi ions, o cing ins i-
u ions and co po a ions o mee ongoing pe o mance
demands, while simul aneously educing cos s and com-
pe ing wi h eme ging echnologies. En ep eneu ship is
a undamen al aspec o co po a e o ganisa ions and a
de ining cha ac e is ic o mode n business. D.Diand a &
A.Azmy(2020) emphasised ha i manage ial expe ise
and en ep eneu ial abili ies we e applied e ec i ely o
change and knowledge acquisi ion, i indica ed ha he
i m was ope a ing success ully. Al hough businesses
cons an ly sea ch o oppo uni ies, he cu en busi-
ness en i onmen has made his e en mo e p essing.
En ep eneu ship se es as a means o disco e ing new
p ospec s and ma ke s, d i ing inno a ion wi hin en e -
p ises. L.E.Boonee al.(2019) poin ed ou ha o capi al-
ise on oppo uni ies h ough c ea i e hinking, mode n
business leade s mus con inuously iden i y gaps wi hin
hei indus y and he b oade ma ke .
S.A. Saeed & K.G. Aziz (2021) highligh ed ha o -
ganisa ional pe o mance, alongside ad ancemen s in
inno a ion, imp o ed, when o ganisa ions adop ed ex-
ensi e echnological implemen a ion and demons a -
ed leade ship in echnical inno a ion. En ep eneu ship
was a i al aspec o he business wo ld. Businesses ha
encou age en ep eneu ship we e ega ded as obus
and p oac i e in d i ing change wi hin hei indus y.
Howe e , he inno a ion p ocess in ol ed inhe en isks
In eg a ion o en ep eneu ship...
Economic Fo um, 2024, Vol. 14, No. 4
24
he signi icance and in luence o hese wo concep s on
business, as well as he applica ion o schola s’ indings
ega ding he ele ance o hese connec ions and he
po en ial e ec s ha each may ha e.
Technological ad ancemen s and globalisa ion ha e
ans o med he wo ld in o a closely connec ed global
communi y, ma ked by signi ican g ow h in in e na-
ional ade and compe i ion. Pa icipa ion in he global
economy poses many subs an ial challenges o o gan-
isa ions and indus ies wo ldwide. En ep eneu ship, a
powe ul economic o ce h oughou his o y, empowe s
indi iduals o iden i y oppo uni ies in si ua ions ha
o he s pe cei e as insu moun able ba ie s. I se es as
a majo d i e o ans o ma ion ac oss a ious socie al
sec o s and is widely ecognised as a key indica o o
business success and esilience (Pahuja & Sanjee ,2015).
En ep eneu ship was in e p e ed in mul iple ways,
wi h some conside ing i a s a egy o es ablishing a
p ospe ous en e p ise, while o he s ega d i as a means
o enhancing one’s skills and mindse . Howe e , he
p ima y objec i e o en ep eneu ship was o p o ide
employmen oppo uni ies and os e economic expan-
sion (Hessels & Naudé,2018). Acco ding o W.J.Chang
& M. Wyszomi ski (2015), success ul en ep eneu ship
equi ed human esou ces, such as skilled employees
and eams, alongside a combina ion o echnical skills,
including ask execu ion o ensu e quali y and e iciency
in p oduc ion, managemen skills o o e seeing public
wo ks, e ec i e leade ship and managemen capabili-
ies, s a egic planning, decision-making, and esou ce
alloca ion. The discipline o en ep eneu ship ope a ed
independen ly o o he ields o s udy, while also con-
ibu ing o a ious disciplines.
E e y company has a unique ision and mission and
employs a ious s a egies o accomplish hese objec-
i es. Documen a ion is an in eg al aspec o business
ope a ions and a undamen al componen o co po-
a e li e. En ep eneu ship is a hallma k o a h i ing
business, demons a ing p oac i e managemen and
con inuous e o s owa ds imp o emen . I is an es-
sen ial elemen o he business wo ld ha con ibu es
o co po a e success. H.Ba o (2015) no ed ha success
s ems om en ep eneu ship and ha es ablishing a
new company equi ed indi iduals o adop a new way
o hinking. Despi e a ying pe spec i es, en ep eneu -
ship was gene ally de ined in a singula manne .
Ma ke ing esea ch, i s in oduced in 1879, has
e ol ed signi ican ly since hen. I o iginally ocused
on sampling, da a collec ion, and analy ical me hodol-
ogies, aimed a measu ing ma ke ing phenomena and
consume a ibu es. The 1970s and 1980s ma ked he
“golden age o consume esea ch”, cha ac e ised by he
ise o scien i ic me hods and compu ing powe . In he
la e 1990s and ea ly 2000s, esea che s became inc eas-
ingly sough a e o da a in e p e a ion and s a egy
c ea ion. Mode n consume s exe signi ican in luence
o e business s a egies, and as A.Zielińska(2016) and
J.Velilla(2018) ha e no ed, businesses mus con inuously
analyse cus ome p e e ences and ai s o shape b and
and p oduc de elopmen . Ma ke esea ch played a
c ucial ole in iden i ying ma ke ing oppo uni ies, gen-
e a ing s a egic ac ions, e alua ing pe o mance, and
unde s anding he ma ke ing p ocess. P.Zabo ek(2015)
poin ed ou ha i se ed as a b idge be ween ma ke -
e s, consume s, cus ome s, and he public, acili a ing
da a de ini ion, planning, supe ision, pe o mance
e alua ion, and esul communica ion. Addi ionally, i is
a sys ema ic p ocess ha iden i ies and de ines ma ke -
ing oppo uni ies and challenges, moni o s and assesses
ma ke ing pe o mance and ac i i ies, and epo s ind-
ings and hei implica ions o managemen . The au ho
also no ed ha ma ke ing esea ch comp ises mul iple
in e ela ed and sequen ial phases, including de ining a
esea ch opic, designing a esea ch me hodology, col-
lec ing, analysing, and in e p e ing da a, and p esen ing
a inal epo o decisionmake s.
Acco ding o S.Al-Fai uz(2021), ma ke ing manage s
bene i om he abili y o p ecisely iden i y and de ine
ma ke ing oppo uni ies and challenges, unde s and
ma ke s and cus ome s, de elop compe i i e ma ke ing
plans and ac i i ies, and ack ma ke ing pe o mance.
Iden i ying compe i o s was essen ial ac oss a ious
business p ocesses, depending on he ype o o gani-
sa ion. These p ocesses included acqui ing supplies o
p oduc s, ma ke ing, p oduc design, and conduc ing
ma ke esea ch o new p oduc s o ma ke s (Vi a-
nen,2022). Following his, businesses should compa e
hei objec i es, s a egies, s eng hs, and weaknesses
wi h hose o compe i o s. They mus also ensu ed ha
i als do no gain a compe i i e ad an age o cap u e
ma ke sha e (Hollensen,2020).
The in o ma ion ga he ed om ma ke esea ch
can be applied in decision-making and may be con-
duc ed by he company’s ma ke esea ch depa men
o an ex e nal o ganisa ion. Ma ke ing esea ch assis s
o ganisa ions in in oducing new p oduc s, de e mining
which ea u es o o e , and iden i ying he dis ibu ion,
ad e ising, and p icing s a egies ha bes suppo he
p oduc . The ma ke mechanism o esou ce alloca ion
in eg a es supply and demand, acili a ed by ma ke ing
esea ch. This helps businesses iden i y ma ke oppo -
uni ies and isks ha may no o be immedia ely appa -
en , as no ed by P.Zabo ek(2015).
Many people associa e he e m “business” wi h
ea ning money o pu chasing and selling goods and
se ices. The e m was b oad and encompassed a ious
business en u es. In addi ion o p oducing goods and
se ices ha people use, businesses also p o ide em-
ploymen . While some companies manu ac u e angible
p oduc s, o he s o e se ices. A coun y’s economy
was d i en by business, as i p o ided, how he s anda d
o li ing imp o es. Comme cial ac i i y was undamen-
ally based on ansac ions be ween buye s and selle s
(Boonee al.,2019).
Saeed e al.
Economic Fo um, 2024, Vol. 14, No. 4
25
The li e a u e e iew highligh ed he impo ance o
en ep eneu ship and ma ke ing esea ch in business
success. En ep eneu ship mi iga es isks and os e s
inno a ion, enabling mode n businesses o su i e
and expand in he global echnological e a. Ma ke ing
esea ch helps businesses analyse and espond o cus-
ome demand, ensu ing s a egic planning and execu-
ion. Bo h en ep eneu ship and ma ke ing esea ch a e
essen ial o mode n business success.
Ma e ials and Me hods
The app oach used in his s udy in ol ed conduc ing
design esea ch o de e mine he independen a ia-
bles (en ep eneu ship and ma ke ing esea ch) and de-
penden a iable (mode n business). A s udy o he im-
pac o en ep eneu ship and ma ke ing esea ch on he
p i a e sec o was conduc ed in he Ku dis an egion o
I aq. To ensu e accu a e esea ch esul s and e alua e
he hypo heses o his s udy, wo da a collec ion me h-
ods we e used. The i s app oach in ol ed e iewing ac-
ademic a icles and books by o he esea che s ocused
on he same opic. The second app oach employed a
s uc u ed ques ionnai e, which was iden i ied as he
mos sui able ool o achie e he s udy’s objec i es.
The collec ed da a we e hen analysed using s a is ical
so wa e (SPSS). This s udy explo ed he impo ance o
in eg a ing en ep eneu ship and ma ke ing esea ch
in mode n businesses o g ow h and success. Success-
ul businesses can mee cus ome demands, adap o
change, and g ow as e . Howe e , a lack o us and
unde s anding among business owne s hinde s hei
e ec i e implemen a ion. The esea ch ocused on
esiden s o he Ku dis an egion aged 18 o 50, includ-
ing company employees and manage s, as well as indi-
iduals in ela ed sec o s.
The a ge popula ion comp ised employees o
mode n businesses in he Ku dis an egion. This s udy
was no limi ed o a single business o o ganisa ion;
hese employees we e no es ic ed o a pa icula
managemen le el. The sampling me hod was andom,
and he selec ion was based on employee accessibili y
ac oss a ious oles. The esea ch model, along wi h he
de ined esea ch hypo heses, was p esen ed in Figu e 1.
H1
En ep eneu ship
H2 Mode n business
Ma ke ing esea ch
H3
Figu e 1. Resea ch model
Sou ce: de eloped by he au ho s
To achie e he objec i es o he s udy and collec
he da a, he esea che designed a ques ionnai e. This
consis ed o a se o w i en ques ions ha he s a o
o ganisa ions we e equi ed o answe . The ques ion-
nai e included 21 s a emen s ca ego ised in o ou a -
eas: en ep eneu ship, ma ke ing esea ch, in eg a ion
o en ep eneu ial s a egies, inno a ion, and ma ke e-
sea ch in mode n business, along wi h demog aphic in-
o ma ion abou he sample membe s (i.e. gende , age,
le el o educa ion, and posi ion) as shown in Table1.
Table 1. S uc u e and numbe o Google Fo m ques ions
Numbe Field Numbe o s a emen s
1 En ep eneu ship 7
2Ma ke ing esea ch 7
3 In eg a ion in mode n business 7
4To al 21
Sou ce: de eloped by he au ho s
To ob ain undamen al da a om he pa icipan s,
an o ganised ques ionnai e was used. The su ey aimed
o examine he ole o en ep eneu ship and ma ke ing
esea ch in mode n business, as well as ga he demo-
g aphic in o ma ion om esponden s, h ough 21
s a emen s. I also employed andom sampling (Table2).
Le el S ongly ag ee Ag ee Neu al Disag ee S ongly disag ee
Poin s 5 4321
Table 2. Google Fo m esponse scale
Sou ce: de eloped by he au ho s
Fo he en ep eneu ship sec ion, esponses we e
measu ed using a 5-poin Like a ing scale, anging
om “s ongly ag ee” (5) o “s ongly disag ee” (1). High-
e sco es indica ed posi i e ou comes o subo dina es,
while lowe sco es e lec ed ad e se consequences. The
s udy was conduc ed ollowing he s anda ds se ou in
The Decla a ion o Helsinki(2013).
Resul s and Discussion
The esul s we e ob ained h ough a ques ionnai e,
which enabled he collec ion o da a ia Google Fo ms,
bo h physically and online. SPSS analysis was used o
p ocess he esponses, which we e o ganised in o i e
ables o allow eade s o easily unde s and he esul s
and summa ise he indings. Th ough hese ables, he
In eg a ion o en ep eneu ship...
Economic Fo um, 2024, Vol. 14, No. 4
26
da a we e analysed o comp ehend he impac o en-
ep eneu ship and ma ke esea ch on mode n busi-
ness. The ques ionnai e was ini ially expec ed o e-
cei e app oxima ely 170 esponses. Howe e , due o
conce ns abou he eliabili y o ce ain answe s and
ins ances o unce ain y, he inal da ase was educed
o 155 alid esponses.
The indings we e also suppo ed by simila e-
sea ch conduc ed by o he schola s o examine he ole
o ma ke ing esea ch, en ep eneu ship, and mode n
business success. I was ound ha i ms mus adap
o hei changing en i onmen , highligh ing he impo -
ance o ma ke ing esea ch and en ep eneu ship.
Fu he mo e, pe o mance measu emen o inno a ion
compe ence played a signi ican ole in os e ing inno a-
ion and business success in SMEs. The compe i o anal-
ysis me hod, a c ucial aspec o business s a egy, was
closely linked o ma ke ing esea ch and i s unc ion in
iden i ying ma ke oppo uni ies and isks. By in eg a -
ing hese a eas, his s udy p o ided insigh s in o how
ma ke ing and en ep eneu ship esea ch a ec cu en
business pe o mance and he ole o hese ac o s in
achie ing sus ainable company g ow h and enhanced
compe i i eness. Table 3 p esen ed he desc ip i e da a
o he pa icipan s in his esea ch, ca ego ised based
on demog aphic ques ions.
Va iable Ca ego y No. %
Gende Male 74 47.7
Female 81 52.3
Age
Bellow 25 69 44.5
25-35 69 44.5
36-45 14 0.9
Mo e han 45 3 1.9
Le el o educa ion
Below diploma 13 8.4
Diploma 31 20.0
Bachelo ’s 106 68.4
Mas e ’s deg ee 42.6
Doc o a e 1 0.6
Posi ion
Employee 116 74.8
Manage 33 21.3
Gene al manage 6 3.9
Table 3. Desc ip i e s a is ics o demog aphic ques ion
Sou ce: de eloped by he au ho s
In Table 3, he equencies and p opo ions o e-
sponses we e p esen ed based on gende , age, le el o
educa ion, and posi ion. Rega ding gende , he able
showed ha he majo i y o he pa icipan s had a ela i e-
ly simila dis ibu ion, wi h emale pa icipan s accoun -
ing o 57.3% and male pa icipan s o 47.7%. Addi ion-
ally, he esul s indica ed ha 44.5% o he pa icipan s
we e aged below 25, while an equal p opo ion (44.5%)
we e aged 25-35. The age g oup 36-45 cons i u ed 0.9%
o he pa icipan s, while hose aged o e 45 accoun ed
o 1.9% o he o al. I was also e iden ha 68.4% o
he pa icipan s held a bachelo ’s deg ee. Following his,
20% o pa icipan s held a diploma, 2.6% had a mas e ’s
deg ee, 8.4% had below-diploma quali ica ions, and
0.6% had a doc o a e. Fu he mo e, 74.8% o he pa ic-
ipan s held employee posi ions in o ganisa ions o mod-
e n businesses, while 21.3% we e manage s, and 3.9%
we e gene al manage s. Table 4 p esen ed he alues
o C onbach’s Alpha coe icien , which we e calcula ed
o assess he in e nal consis ency o he measu emen .
En ep eneu ship Ma ke ing
esea ch All independen
a iable Mode n business Independen a iable
and dependen a iable
Numbe o
ques ions 7 7 14 7 21
C onbach’s Alpha .724 .640 .788 .827 .864
Table 4. Reliabili y o measu emen s o all a iables
Sou ce: de eloped by he au ho s
C onbach’s Alpha coe icien s o he s udy a ia-
bles we e p esen ed in Table 4. These alues indica e
how in e nally consis en he i ems a e, essen ially e-
ealing he ex en o which a se o i ems was ela ed.
The ac o s examined included en ep eneu ship, ma -
ke ing esea ch, all independen a iables, and mode n
business. The C onbach’s Alpha coe icien s o ma -
ke ing esea ch and en ep eneu ship we e 0.640 and
0.724, espec i ely. The i ems used o measu e mod-
e n business demons a ed e y high eliabili y, as e i-
denced by a C onbach’s Alpha coe icien o 0.827. The
o al se o 21 i ems exhibi ed a high le el o eliabili y
Saeed e al.
Economic Fo um, 2024, Vol. 14, No. 4
27
in measu ing ma ke ing esea ch, mode n business,
and en ep eneu ship, as he o e all C onbach’s Alpha
alue was 0.864. The indings, summa ised in Table5,
e ealed a posi i e co ela ion be ween he a iables,
wi h ma ke ing esea ch and en ep eneu ship showing
a co ela ion coe icien o 0.260.
Co ela ions
En ep eneu ship Ma ke ing esea ch Mode n business
En ep eneu ship 1 .545** .519**
Ma ke ing esea ch .545** 1 .573**
Mode n business .519** .573** 1
Table 5. Co ela ion ma ix be ween independen a iables
(en ep eneu ship, ma ke ing esea ch) and dependen a iable (mode n business)
No e: **.– co ela ion is signi ican a he 0.01 le el (2- ailed)
Sou ce: de eloped by he au ho s
The co ela ion coe icien , which anged om 0.519
o 0.573, indica ed an indica ion ha en ep eneu ship
and mode n business success we e posi i ely ela ed.
This means ha as he le el o en ep eneu ship inc eas-
es, he success o mode n business o ganisa ions also
inc eases p opo ionally. G ea e o ganisa ional e ec-
i eness was also associa ed wi h he use o e icien ma -
ke ing esea ch me hods, highligh ing he impo ance o
unde s anding cus ome needs and making in o med
business decisions. The ela ionship be ween ma ke ing
esea ch and en ep eneu ship in enhancing company
success was demons a ed by he s a is ical likelihood
ha i ms engaging in en ep eneu ial ac i i ies also con-
duc ma ke ing esea ch. All co ela ions had p<0.01,
demons a ing he eliabili y o he ela ionships be-
ween he a iables examined. Table 6 summa ised he
esul s o Pea son’s co ela ion coe icien es s, which
indica ed ha he ela ionship be ween he depend-
en a iable (mode n business) and he independen
a iable (en ep eneu ship) we e mode a ely posi i e.
Coe icien s Model summa y ANOVA
B T P- alue R R-squa e F P- alue
(Cons an ) 1.929 6.991 .000 .519a.270 54.549 .000b
En ep eneu ship .541 7.520 .000
Table 6. Simple eg ession be ween he independen a iable
(en ep eneu ship) and he dependen a iable (mode n business)
Sou ce: de eloped by he au ho s
When examining he ole o en ep eneu ship in
mode n business, i is essen ial o unde s and i s p e-
dic i e po en ial. Table 6 also included he ANOVA e-
sul s, which assess he ex en o which he explana o-
y a iable (en ep eneu ship) accoun s o a ia ions
in he esponse a iable (mode n business). Based on
he indings, he model was deemed app op ia e, wi h
F=54.549 and p=0.000. Table 6 p esen ed he esul s
o he es ima ed o he cons an , slope, calcula ed - al-
ue, and coe icien o de e mina ion (R-squa e). The e-
g ession coe icien (B) o en ep eneu ship was .541,
meaning ha a one-uni inc ease in en ep eneu ship
would lead o a .541 uni inc ease in mode n business.
This coe icien explained he p opo ion o a ia ion
in he dependen a iable ha can be a ibu ed o he
independen a iable and was equal o he squa e o
he mul iple co ela ion coe icien . The R-squa e alue
(0.270) indica ed ha en ep eneu ship accoun s o 27%
o he a ia ion in mode n business, while he emain-
ing 73% can be a ibu ed o o he ac o s. The indings
in Table7 u he demons a ed a mode a ely posi i e
ela ionship be ween he dependen a iable (mode n
business) and he independen a iable (ma ke ing e-
sea ch), as indica ed by Pea son’s co ela ion esul s.
Coe icien s Model summa y ANOVA
B T P- alue R R-squa e F P- alue
(Cons an ) 1.696 6.356 .000 .573a.329 74.981 .000b
Ma ke ing esea ch .620 8.659 .000
Table 7. Simple eg ession be ween he independen a iable
(ma ke ing esea ch) and dependen a iable (mode n business)
Sou ce: de eloped by he au ho s
This s udy should ocus on unde s anding key as-
pec s such as he p edic i e c i e ia and he impac o
ma ke ing esea ch on mode n business. Table8 also in-
cluded he ANOVA esul s, which assessed he adequa-
cy o he explana o y a iable– ma ke ing esea ch– in
explaining he esponse a iable, mode n business. The
In eg a ion o en ep eneu ship...
Economic Fo um, 2024, Vol. 14, No. 4
28
indings indica ed ha he model was app op ia e, as
he F- alue was 74.981, wi h a co esponding p- alue o
0.000. The cons an alue was 32, while he slope al-
ue was 0.4, indica ing ha he slope o he line o bes
i was 0.4. The - alue was 2.66, and he coe icien o
de e mina ion was 0.219, ounded o 0.22 (R-squa e).
The eg ession coe icien (B) o he ma ke ing esea ch
a iable was 0.620, meaning ha each uni inc ease in
ma ke ing esea ch co esponded o a .620 inc ease in
mode n business. R-squa e ep esen ed deno ed he
pe cen age o he independen a iable’s e ec on he
dependen a iable and was de ined as he coe icien
o de e mina ion in his s udy. Acco ding o he Rsqua e
alue (.329), 32.9% o he a ia ion in en ep eneu ship
was associa ed wi h mode n business, while he emain-
ing a ia ion was a ibu ed o o he ac o s. The esul s
in Table 8 demons a ed ha all independen a iables
had a ela i ely high le el o signi icance conce ning he
dependen a iable, wi h a Pea son co ela ion coe i-
cien o .624.
Coe icien s Model summa y ANOVA
B T P- alue R R-squa e F P- alue
(Cons an ) 1.172 4.061 .000
.624a.390 48.571 .000b
En ep eneu ship .307 3.899 .000
Ma ke ing esea ch .446 5.469 .000
Table 8. Mul iple eg ession be ween independen a iables
(en ep eneu ship, ma ke ing esea ch) and he dependen a iable (mode n business)
Sou ce: de eloped by he au ho s
To illus a e he o e all p edic i e po en ial and
impac o en ep eneu ship and ma ke ing on mode n
business, i was impe a i e o unde s and he meaning
o hese concep s and hei in e ela ionship. Table8
also p esen ed he ANOVA esul s, which assessed he
i ness o he p oposed model using wo independen
a iables– en ep eneu ship and ma ke ing esea ch–
and he dependen a iable, mode n business. A he
95% con idence le el, he null hypo hesis was ejec ed,
indica ing ha he model was app op ia e; he F- alue
was 48.571, and he p- alue was 0.000. The cons an
and slope alues we e con ained in he i s column
o Table 8, while he - alue and R-squa e appea ed in
he second column. The indings indica ed ha en e-
p eneu ship had a signi ican e ec , wi h a eg ession
coe icien (B) o 0.307, sugges ing ha each uni in-
c ease in en ep eneu ship esul ed in a 0.307 inc ease
in mode n business, pa icula ly h ough con empo-
a y social media. Simila ly, he eg ession coe icien
(B) o ma ke ing esea ch was 0.446, meaning ha an
inc ease in ma ke ing esea ch was associa ed wi h a
0.446-uni inc ease in mode n business, acili a ed by
cu en ma ke ing esea ch s a egies. The coe icien
o de e mina ion (R2) showed ha , collec i ely, en e-
p eneu ship and ma ke ing esea ch accoun ed o
39% o he a iance in mode n businesses. The emain-
ing a ia ion was a ibu ed o o he ex e nal ac o s.
Table9 summa ised he hypo hesis es esul s, includ-
ing he s anda dised be a coe icien and - alue a a
signi icance le el o 0.05.
No. Hypo hesis Be a coe icien - alue Resul s
H1 En ep eneu ship and mode n business .307 3.899 Accep
H2 Ma ke ing esea ch and mode n business .446 5.469 Accep
H3 En ep eneu ship and ma ke ing esea ch on mode n business 0.624 7.123 Accep
Table 9. Hypo hesis es esul s
Sou ce: de eloped by he au ho s
The da a alida ed he heo e ical basis ha en-
ep eneu ship (H1), ma ke ing esea ch capabili ies
(H2) and hei combined in luence (H3) con ibu e o
posi i e ou comes in mode n business. The esul s o
he eg ession analysis demons a ed ha en ep e-
neu ship enhances mode n business pe o mance, as
he eg ession coe icien (B) was 0.541. D. Diand a &
A.Azmy(2020) suppo ed hese indings, showing ha
en ep eneu ial ini ia i es d i e en e p ise adap a ion
and inno a ion wi hin o ganisa ional s uc u es.
X. Lu & J. Wang (2024) highligh ed ha inno a ion
is c ucial o businesses seeking new oppo uni ies and
sus ainable de elopmen . I was impo an o no e ha
businesses ha implemen inno a ions we e mo e likely
o a ac in e es om s akeholde s; hey also capi-
alised on en i onmen al changes and wo k o u he
hei de elopmen and, ul ima ely, hei su i al in he
ma ke place. Inno a i e ac ions eshaped he compe i-
i e landscape, enabling o ganisa ions o ecognise he
oppo uni ies ha a ise om ad ancemen (Szupe &
Wołoszyn,2020).
The esul s indica ed ha ma ke ing esea ch posi-
i ely in luences business p o i abili y, wi h a eg ession
coe icien (B) o 0.620. These indings we e suppo ed
by N.K. Malho ae al.(2020), es ablished ha ma ke -
ing esea ch se es he dual pu pose o unde s anding
clien needs and acili a ing in o med business deci-
sions. Acco ding o P.Zabo ek (2015),o ganisa ions can
Saeed e al.
Economic Fo um, 2024, Vol. 14, No. 4
29
iden i y ma ke oppo uni ies and h ea s h ough ma -
ke ing esea ch, demons a ing ha well-conduc ed
esea ch enhances co po a e compe i i eness. Mod-
e n o ganisa ions expe ience a signi ican impac om
he combina ion o en ep eneu ship and ma ke ing
esea ch, as e idenced by a Pea son co ela ion alue
o 0.624. Highe co po a e e ec i eness a ose om
he s a egic in eg a ion o hese domains. Acco ding
o A. Ali e al. (2020), ma ke -d i en en ep eneu ship
le e aged ma ke ing and en ep eneu ial app oaches
o seize p o i able oppo uni ies. Sus ained g ow h and
compe i i e ad an age depend on his essen ial in eg a-
ion. The s udy con i med indings ha align wi h exis ing
li e a u e on he c ucial ole o ma ke ing and en ep e-
neu ial esea ch in mode n companies. F.Haines(2017)
a gued ha en ep eneu ship has a las ing ans o m-
a i e impac ac oss economic and social sec o s. P od-
uc de elopmen and ma ke s a egy o mula ion ely
hea ily on ma ke ing esea ch, acco ding o bo h L.Mel-
ande (2020) and S.Hollensen (2020).
O ganisa ions ope a e in a ola ile and unp edic a-
ble en i onmen as hey unde go mode nisa ion. I was
c i ical o unde s and hei na u e and, acco dingly, im-
plemen comp ehensi e s a egies ha inco po a e dy-
namic de elopmen s. Mode n businesses mus espond
swi ly o en i onmen al changes, pa icula ly in ligh o
in ense compe i ion and ising consume expec a ions
(Pieka czyk, 2016). The mode n co po a e wo ld was
highly complex. Technological ad ancemen s, compe i-
i e p essu es, and g owing cus ome awa eness ha e
compelled businesses o ope a e di e en ly han in he
pas . I was essen ial o companies o conside ends
and en i onmen al changes in hei s a egic plan-
ning. H.Cengiz(2020) emphasised ha companies ha
closely moni o hei ex e nal en i onmen we e be e
equipped o iden i y oppo uni ies and isks. By doing
so, hey can de elop s a egic esponses o capi alise on
oppo uni ies and mi iga e isks.
Compe i ion was ine i able in he co po a e wo ld,
pa icula ly gi en he highly compe i i e na u e o mod-
e n business. I was essen ial o moni o consume
ends and an icipa e po en ial changes o espond e -
ec i ely. Businesses mus also manage changes wi hin
he co po a e en i onmen . In mode n dynamic busi-
ness landscape, o ganisa ions mus adap apidly, while
main aining a s ong wo k o ce. Manage s mus be ad-
ap able, o e ing lexible wo king hou s and loca ions. As
no ed by L.E.Boonee al.(2019), lexibili y and mobili y
ep esen ed he la ges demog aphic shi s in he wo k-
o ce. To succeed, leade s mus possess ision, ma ke
insigh , c i ical hinking skills, and da a analysis capabili-
ies. Addi ionally, businesses mus conside social issues
and hei esponsibili ies o in es o s, consume s, em-
ployees, and socie y.
T.Bake & F.Wel e (2018) highligh ed ha , gi en he
signi icance o en ep eneu ship in he mode n wo ld,
academics ha e sough o expand and deepen hei
unde s anding o he ield. Fi s and o emos , en e-
p eneu ship was ecognised as a undamen al s a egy
o educing unemploymen and inc easing he numbe
o en ep eneu s es ablishing new businesses. Because
en ep eneu s de elop and compe e, hey con ibu e o
a na ion’s economic en i onmen and help educe un-
employmen in many coun ies. Gi en he impo ance
o en ep eneu ship, esea che s ha e ocused on his
phenomenon and examined he ac o s ha in luence
an indi idual’s decision o become an en ep eneu
(Send aPons e al., 2021). A. Alie al. (2020) explained
ha ma ke -d i en en ep eneu ship in eg a ed bo h
ma ke ing and en ep eneu ial p inciples, ocusing on
ma ke oppo uni ies. Y.H. Al-Mama y & M. Alshalla-
qi (2022) s a ed ha en ep eneu ship in ol ed aking
isks, managing unce ain y and ins abili y, and p io i is-
ing inancial gains. O.J. Nwokebui e e al.(2021) no ed
ha many indi iduals s uggle o become success ul en-
ep eneu s due o he inhe en isks associa ed wi h he
sec o . Inno a ion is c ucial o e ec i e managemen
p ocesses, as i enables o ganisa ions o adap and p o-
g ess. Sus ainable inno a ion is i al o indus ial suc-
cess and long- e m g ow h. I suppo s he de elopmen
o new s a egies o enhance exis ing p oduc s o se -
ices, ensu ing businesses’ long- e m iabili y and pe -
o mance. Inno a ions a e dis inc om o he concep s
and can p o ide bo h sho - and long- e m bene i s o a
company. The p inciples o c ea i i y in ol e gene a ing
and applying ideas, ans o ming hem in o speci ic o -
ganisa ional componen s such as p oduc s o p ocesses.
Conclusions
The s udy con i med he enhanced and bene icial ole
o en ep eneu ship and ma ke ing esea ch in mod-
e n business success. The indings demons a ed ha
bo h ac o s a e essen ial o he de elopmen and e -
ec i eness o con empo a y o ganisa ions. One o he
mos c i ical a eas in business was en ep eneu ship,
as i enabled companies o espond o changes in he
en i onmen and an icipa e u u e ends. Ma ke ing e-
sea ch played a c ucial ole in business o ganisa ions by
se ing mul iple pu poses, such as helping companies
unde s and consume needs and p e e ences, iden i y-
ing ma ke ends, and o mula ing e ec i e ma ke ing
s a egies o enhance cus ome sa is ac ion. The in e-
g a ion o en ep eneu ship and ma ke ing esea ch
led o imp o ed business ou comes. O ganisa ions ha
success ully inco po a e hese wo elemen s a e be e
posi ioned o achie e sus ained g ow h and main ain a
compe i i e ad an age. Fu u e esea ch should examine
addi ional ac o s ha migh in luence he applica ion
o en ep eneu ship and ma ke ing esea ch, including
o ganisa ional cul u e, leade ship, and echnological
ad ancemen s. Fu he mo e, analysing he in luence
o hese p ocesses ac oss a ious sec o s could e eal
indus y-speci ic bes p ac ices and challenges. The
indings o his s udy aligned wi h p e ious esea ch in
