GAJRC | Global Academic Journal of Economics and Business

Journal Name:	Global Academic Journal of Economics and Business
Abbr. Title:	Glob Acad J Econ Buss
ISSN(Print):	2706-9001
ISSN(Online):	2707-2584
Frequency:	Bi-Monthly
Language:	English
Chief Editor:	Prof. P Malyadri
Publisher:	Scholars Middle East Publishers
Country of Origin:	United Arab Emirates

Journal Name:

Global Academic Journal of Economics and Business

Abbr. Title:

Glob Acad J Econ Buss

ISSN(Print):

2706-9001

ISSN(Online):

2707-2584

Frequency:

Bi-Monthly

Language:

English

Chief Editor:

Prof. P Malyadri

Publisher:

Scholars Middle East Publishers

Country of Origin:

United Arab Emirates

Small and medium-sized enterprises (SMEs) are vital to economic growth and job creation, contributing about 40% of Vietnam’s GDP and 50% of employment. However, a substantial proportion of SMEs fail to survive beyond the first few years of operation. This study examines how critical success factors (CSFs)—categorized as entrepreneurial, organizational, managerial, capital, business support, and business environment factors—impact the sustainability of Vietnamese SMEs. Drawing on a survey of 100 SMEs in Ho Chi Minh City, the research employs confirmatory factor analysis (CFA) and structural equation modeling (SEM) to evaluate the influence of these factors on business sustainability. The results indicate that entrepreneurial characteristics, internal managerial factors, and adaptability to the business environment have significant positive effects on SME sustainability, whereas organizational characteristics, external support, and capital availability show no statistically significant direct impact. The findings suggest that developing internal capabilities, strategic adaptability, and proactive management practices are more crucial for long-term SME survival than size or initial capital alone. The paper discusses these outcomes in light of current literature and provides implications for entrepreneurs and policymakers to foster SME resilience.

Nov. 19, 2025

Innovation and Its Impact on Tourism Competitiveness: A Research Review

Le Thanh Sang
Glob Acad J Econ Buss; 2025, 7(6): 146-152
DOI : https://doi.org/10.36348/gajeb.2025.v07i06.003

Human-Centric Design Systems represent a defining transformation in industrial design, signalling a decisive movement away from product-oriented practices toward a deeper engagement with the lived realities, psychology, and ethics of human experience. This paper examines the conceptual, cognitive, and methodological foundations of human-centred design as the philosophical and practical nucleus of modern industrial design thinking. Drawing upon insights from phenomenology, cognitive psychology, ergonomics, and systems theory, it argues that design functions simultaneously as a rational discipline and a reflective practice—an iterative, empathy-driven process informed by participation and contextual understanding. Case studies such as Apple’s inclusive product philosophy, Dyson’s iterative engineering approach, and IDEO’s participatory redesign of healthcare environments illustrate how human-centred methods transcend traditional notions of utility and aesthetics, fostering emotional connection, cultural awareness, and sustainable innovation. The findings suggest that authentic design innovation emerges at the intersection of technological feasibility, social responsibility, and human well-being. The paper concludes that human-centric design must be recognised not merely as a methodology but as a developing epistemology—anchored in ethical responsibility, interdisciplinarity, and the enduring aim to enhance human life.

In the era of globalization and the Fourth Industrial Revolution, the transition from cash-based transactions to electronic payments has become an inevitable trend, fundamentally reshaping financial management and transactional practices. Vietnam, characterized by its young demographic structure, high smartphone adoption rate, and rapidly expanding digital infrastructure, has emerged as one of the most dynamic markets for cashless payment solutions, particularly e-wallets. The convenience, efficiency, and broad accessibility of financial services have positioned e-wallets as an indispensable instrument in the digital economy. Nevertheless, alongside the opportunities for fostering digital economic growth, this rapid expansion also entails a range of risks and regulatory challenges. This study examines the current landscape, opportunities, potential risks, and proposes policy recommendations aimed at ensuring the sustainable development of Vietnam’s e-wallet and cashless payment ecosystem.