World Academy of Science, Engineering and Technology

Authors: Sajid Aman

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Jobs in the banking sector in Pakistan are perceived as very tough, due to which employee turnover is very high. However, the managerial role is very important in influencing employees’ attitudes toward their turnout. This paper explores the manager’s role in influencing employees’ effectiveness on the job. The paper adopted a pragmatic approach by combining both qualitative and quantitative data. The study employed an exploratory sequential strategy under a mixed-method research design. Qualitative data was analyzed using thematic analysis. Five major themes, such as the manager’s attitude towards employees, his leadership style, listening to employee’s personal problems, provision of personal loans without interest and future career prospects, emerged as key factors increasing employee’s effectiveness in the banking sector. The quantitative data revealed that a manager’s attitude, leadership style, availability to listen to employees’ personal problems, and future career prospects and listening to employee’s personal problems are strongly associated with employees’ effectiveness at the job. However, personal loan without interest was noted as having no significant association with employee’s effectiveness at the job. The study concludes manager’s role is more important in the effectiveness of the employees at their job in the banking sector. It is suggested that managers should have a positive attitude towards employees and give time to listening to employee’s problems, even personal ones.

Keywords: banking sector, employee’s effectiveness, manager’s role, leadership style

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Authors: Nasir Ullah

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Marketing strategies are important factors in the success of a company. Local pharmaceutical companies in Pakistan face several issues, such as low-level budgets, lack of skilled human resources, and challenges to competing with multinational competitors that have negative impacts on their success. However, still there exist local companies with great levels of success in the pharmaceutical sector. This study aims to evaluate the marketing strategies of successful local companies in the pharmaceutical sector of Khyber Pakhtunkhwa, Pakistan. The study employed a constructivist approach to know about successful strategies of the marketing managers that worked well. For this purpose, in-depth interviews were conducted with marketing managers of four pharmaceutical companies which were deemed as successful on the basis of their annual target achievements. Thematic analysis was conducted using Nvivo to devise major themes from the collected data. Four major themes or successful strategies were identified. These are i) share in the profit to marketing and sales staff, ii) invitation to the doctors for participation in free medical camps and health awareness seminars, iv) incentives for the Doctors and retailers, v) utilization of traditional capital (local social relationships) by the marketing officers. The study concludes that profit share to the employees, valuing doctors through their involvement and utilization of traditional capital are the successful marketing strategies of the successful pharmaceutical companies in the Pakhtun society of Pakistan. The study suggests hiring local staff that can utilize their traditional capital to influence doctors' decisions regarding the prescription of their medicine to the patients. The study also suggests profit share or increased bonuses to the marketing and sales staff as a measure of success.

Keywords: successful marketing strategies, pharmaceutical industry, traditional social capital, local companies

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Authors: Zelda Jansen Van Rensburg

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Purpose: This study investigates the perceived disparities between Quantity Surveying and Commercial Management in the construction industry, questioning if these differences are substantive or merely semantic. It aims to challenge the conventional notion of Commercial Managers’ superiority by critically evaluating QS and CM roles, exploring CM integration possibilities, examining qualifications for aspiring Commercial Managers, assessing regulatory frameworks, and considering terminology redefinition for global QS professional enhancement. Design: Utilizing mixed methods like literature reviews, surveys, interviews, and document analyses, this research examines the QS-CM relationship. Insights from industry professionals, academics, and regulatory bodies inform the investigation into changing QS roles. Findings: Empirical data highlight evolving roles, showcasing areas of convergence and divergence between QSs and CM. Potential CM integration into QS practice and qualifications for aspiring Commercial Managers are identified. Limitations/Implications: Limitations include potential bias in self-reported data and findings. Nevertheless, the research informs future practices and educational approaches in QS and CM, reflecting the changing roles and responsibilities of Quantity Surveyors. Practical Implications: Findings inform industry practitioners, educators, and regulators, stressing the need to adapt to changing QS roles and integrate CM principles where applicable. Value to the Conference Theme: Aligned with ‘Evolving roles and responsibilities of Quantity Surveyors,’ this research offers insights crucial for understanding the changing dynamics within the QS profession and informs strategies to navigate these shifts effectively.

Keywords: quantity surveying, commercial management, cost engineering, quantity survey

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Authors: Soheila Sadeghi

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Construction projects are complex and often subject to significant cost overruns due to the multifaceted nature of the activities involved. Accurate cost estimation is crucial for effective budget planning and resource allocation. Traditional methods for predicting overruns often rely on expert judgment or analysis of historical data, which can be time-consuming, subjective, and may fail to consider important factors. However, with the increasing availability of data from construction projects, machine learning techniques can be leveraged to improve the accuracy of overrun predictions. This study applied machine learning algorithms to enhance the prediction of cost overruns in a case study of a construction project. The methodology involved the development and evaluation of two machine learning models: Random Forest and Neural Networks. Random Forest can handle high-dimensional data, capture complex relationships, and provide feature importance estimates. Neural Networks, particularly Deep Neural Networks (DNNs), are capable of automatically learning and modeling complex, non-linear relationships between input features and the target variable. These models can adapt to new data, reduce human bias, and uncover hidden patterns in the dataset. The findings of this study demonstrate that both Random Forest and Neural Networks can significantly improve the accuracy of cost overrun predictions compared to traditional methods. The Random Forest model also identified key cost drivers and risk factors, such as changes in the scope of work and delays in material delivery, which can inform better project risk management. However, the study acknowledges several limitations. First, the findings are based on a single construction project, which may limit the generalizability of the results to other projects or contexts. Second, the dataset, although comprehensive, may not capture all relevant factors influencing cost overruns, such as external economic conditions or political factors. Third, the study focuses primarily on cost overruns, while schedule overruns are not explicitly addressed. Future research should explore the application of machine learning techniques to a broader range of projects, incorporate additional data sources, and investigate the prediction of both cost and schedule overruns simultaneously.

Keywords: resource allocation, machine learning, optimization, data-driven decision-making, project management

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Authors: Badrane Nohayla, Bamousse Zineb

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Financial crises, exchange rate volatility, fluctuations in commodity prices, increased competitive pressures, and environmental issues are all threats that businesses face. In light of these diverse challenges, proactive, agile, and innovative cash management becomes an indispensable financial shield, allowing companies to thrive despite the adverse conditions of the global environment. In the same spirit, uncertainty, turbulence, volatility, and competitiveness continue to disrupt economic environments, compelling companies to swiftly master innovative breakthroughs that provide added value. In such a context, innovation emerges as a catalytic vector for performance, aiming to reduce costs, strengthen growth, and ultimately ensure the sustainability of Moroccan companies in the national arena. Moreover, innovation in treasury management promises to be one of the key pillars of financial stability, enabling companies to navigate the tumultuous waters of a globalized environment. Therefore, the objective of this study is to better understand the impact of innovative treasury management on cost optimization and, by extension, performance improvement. To elucidate this relationship, we conducted an exploratory qualitative study with 20 large Moroccan companies operating in the Casablanca-Settat region. The results highlight that innovation at the heart of treasury management is a guarantee of sustainability against the risks of failure and stands as a true pivot of the performance of Moroccan companies, an important parameter of their financial balance and a catalytic vector of their growth in the national economic landscape. In this regard, the present study aims to explore the extent to which innovation at the core of the treasury function serves as an indispensable tool for boosting performance while optimising costs in large Moroccan companies.

Keywords: innovative cash management, artificial intelligence, financial performance, risk management, cost savings

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Authors: Silvia Rahmita

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Entrepreneurial success is crucial for economic growth, competitiveness, and job creation, yet many entrepreneurs face failure due to various challenges. This paper explores the critical role of strategic thinking in mitigating entrepreneurial failure. Entrepreneurial competencies—encompassing knowledge, skills, and traits—are essential for creating and growing ventures. Despite these competencies, numerous entrepreneurs fail due to poor management, inadequate support, and ineffective policies. The paper categorizes entrepreneurial failures into financial, operational, market, product or service, strategic, leadership, legal, human capital, technological, and environmental failures. Each failure type can be addressed through strategic thinking, which involves foresight, balancing short-term and long-term goals, and hypothesis-driven processes. By integrating strategic thinking into their approach, entrepreneurs can enhance risk management, adapt to market changes, and sustain growth. This process involves setting clear goals, innovating products, and maintaining a competitive edge. Ultimately, strategic thinking provides a framework for proactive planning, adaptation, and continuous improvement, reducing the likelihood of failure and ensuring long-term success. Entrepreneurs who prioritize strategic thinking are better equipped to navigate the complexities of the business environment and achieve sustainable growth.

Keywords: entrepreneurial failure, strategic thinking, risk management, business failure

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Authors: Xueli Tang, Lei Zhao, Shenghao Zhu

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This study investigates the income distribution in a dynamic assignment model with human capital accumulation and endogenous firm size. Positive assortative matching between bosses and workers arises in labor market equilibrium. We solve the stationary equilibrium of two endogenous functions, the matching rule and human capital distribution; we also decompose two channels affecting the equilibrium matching rule, firm-size effect, and endogenous distribution effect. Finally, we perform a perturbation analysis of the equilibrium matching rule and the wage function and examine the effects of technology improvement on income inequality.

Keywords: income distribution, matching, human-capital accumulation, firm size, perturbation method

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Authors: Kim Michelle Siegling, Thomas Spengler, Sebastian Herzog

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In personnel economics, the choice of a leadership style is about the question of how a supervisor should lead his or her employees in such a way that operational goals are achieved. In this paper, it is assumed that such leadership decisions are made according to the situation. Thus, the optimal or at least a permissible leadership style has to be selected from a set of several possible leadership styles. For this choice, a wide range of models has been developed in the scientific literature, from which the so-called normative decision model will be picked out and focused on. While the original model is based on univocal rules, this paper develops a fuzzy rule system.

Keywords: leadership, leadership styles, rule based systems, fuzzy logic

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Authors: Adji Achmad Rinaldo Fernandes

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The research was conducted to apply semiparametric SEM modeling to the timeliness of paying credit. Semiparametric SEM is structural modeling in which two combined approaches of parametric and nonparametric approaches are used. The analysis method in this research is semiparametric SEM with a nonparametric approach using a truncated spline. The data in the study were obtained through questionnaires distributed to Bank X mortgage debtors and are confidential. The study used 3 variables consisting of one exogenous variable, one intervening endogenous variable, and one endogenous variable. The results showed that (1) the effect of capacity and willingness to pay variables on timeliness of payment is significant, (2) modeling the capacity variable on willingness to pay also produces a significant estimate, (3) the effect of the capacity variable on the timeliness of payment variable is not influenced by the willingness to pay variable as an intervening variable, (4) the R^2 value of 0.763 or 76.33% indicates that the model has good predictive relevance.

Keywords: structural equation modeling semiparametric, credit bank, accuracy of payment time, willingness to pay

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Authors: Adji Achmad Rinaldo Fernandes

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Path analysis tests the relationship between variables through cause and effect. Before conducting further tests on path analysis, the assumption of linearity must be met. If the shape of the relationship is not linear and the shape of the curve is unknown, then use a nonparametric approach, one of which is a truncated spline. The purpose of this study is to estimate the function and get the best model on the nonparametric truncated spline path of linear, quadratic, and cubic orders with 1 and 2-knot points and determine the significance of the best function estimator in modeling farmer loyalty through the jackknife resampling method. This study uses secondary data through questionnaires to farmers in Sumbawa Regency who use SP-36 subsidized fertilizer products as many as 100 respondents. Based on the results of the analysis, it is known that the best-truncated spline nonparametric path model is the quadratic order of 2 knots with a coefficient of determination of 85.50%; the significance of the best-truncated spline nonparametric path estimator shows that all exogenous variables have a significant effect on endogenous variables.

Keywords: nonparametric path analysis, farmer loyalty, jackknife resampling, truncated spline

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Authors: Adji Achmad Rinaldo Fernandes

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Regression analysis is a statistical method that is able to describe and predict causal relationships between individuals. Not all relationships have a known curve shape; often, there are relationship patterns that cannot be known in the shape of the curve; besides that, a cause can have an impact on more than one effect, so that between effects can also have a close relationship in it. Regression analysis that can be done to find out the relationship can be brought closer to the semiparametric regression of truncated spline biresponse. The purpose of this study is to examine the function estimator and determine the best model of truncated spline biresponse semiparametric regression. The results of the secondary data study showed that the best model with the highest order of quadratic and a maximum of two knots with a Goodness of fit value in the form of Adjusted R2 of 88.5%.

Keywords: biresponse, farmer attachment, farmer loyalty, truncated spline

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Authors: Isabela Vieira, Leonor Carvalho Garcez, Adalmiro Pereira, Tânia Teixeira

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In the present work, we aim to analyse IKEA as a company, by focusing on its development, financial analysis and future benchmarks, as well as applying some of the knowledge learned in class, namely hedging and other financial risk mitigation solutions, to understand how IKEA navigates and protects itself from risk. The decision that led us to choose IKEA for our casework has to do with the long history of the company since the 1940s and its high internationalization in 63 different markets. The company also has clear financial reports which aided us in the making of the present essay and naturally, was a factor that contributed to our decision.

Keywords: Ikea, financial risk, risk management, hedge

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Authors: Tosin Deborah Akanbi, Adeyemi Oluwaseun Adepoju, Hameed Olusegun Adebambo, Akinloye Fatai Lawal

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Building information modelling (BIM) is a process that starts with the development of a sequential 3D design and encourages data administration, organization, and visualization throughout the life span of a facility (drawings, construction, and supervision). The implementation of building information modelling has been slow in recent years, and this is due to some prominent barriers that hinder its adoption. In this regard, the study aims to examine the significant barriers that influence the adoption of building information modelling in the Lagos state construction industry. Data were gathered through a questionnaire survey with 332 construction professionals in the study area. Three online structured interviews were conducted to support and validate the findings of the quantitative analysis. The results revealed that interest (lack of awareness and understanding of BIM, absence of in-house BIM competent professionals, and unavailability of BIM competent professionals in the labour market), legal (lack of policies and regulations on copyright ownership and lack of enforcement from government agencies and industry leaderships) and professional (people’s inability or refusal to learn new technologies and processes, waste in time and human resource and lack of clarity of professional roles in BIM) barriers are the major barriers influencing the adoption of BIM. The results also revealed that six final themes were generated, namely: finance barriers, industry barriers, interest barriers, leadership barriers, legal barriers, and professional barriers. Thus, there is a need for policymakers to design and implement policies (regulatory, economic, and information) to promote financial schemes to support construction firms and professionals and to reduce financial barriers. It is also important for the government to lay down rules and regulations that must be enforced among the construction professionals and firms in the Lagos state construction industry.

Keywords: BIM barriers, BIM adoption characteristics, construction industry, Lagos State Nigeria

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Authors: Redie Bezabih Hailu

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Unemployment is a problem of nations that needs a continuous research. This study aimed to determine the collaborations and challenges of public employment service (PES) with special emphasis of stakeholders, employers and job seekers. The researcher used pragmatic philosophy, exploratory design and inductive approach to collect data from the respondents using interview and focused group discussion techniques. PES provides job market information, vocational counseling, and training. As PES is not fully furnished with man power, budget, modern technologies, it is providing less adequate services to the employers and job seekers. Matching job seekers with job vacancies is the major challenge for the center and using paper-based data management system too. There is also a number of job seekers in spite of very limited number of vacancies that the service provision is poor due to the fact that there is low level of vacancies and high level of job seekers. The center has collaboration with AFE, AYA, BoTVED, BoWCY, and CETU. The major challenges with this collaborations was the absence of operational guidelines to evaluate effectiveness and performance, lottery method of selecting candidates for vacancies and nepotism or favoritism were challenges for job seekers. On the other hand, (COVID-19) pandemic, inability to get skilled labor, absence of standardized payment, expectation of job seekers and less educational quality and mass graduation were another challenges for employment services. The study recommended quality education and training, operational guideline for collaboration, technology based labor market information system and suggested further studies on quality of PES.

Keywords: public employment service, collaborations, stakeholders, employers, job seekers

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Authors: Weiqi Xia

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We assess the perceptions of China’s hotel m-bookers using the E-SERVQUAL model and technology affordance assessment metrics. The data analysis provides insight into Chinese hotel m-bookers’ perceptions of information quality items, system quality items, and functional quality items. Respondents’ perceived value of such items is greatly enhanced via mini-program support and self-service innovation, which are predicted to be of increasing importance in the future. The findings of this study help close the gap between hotel operators’ understanding and customers’ perceptions. Our findings may also provide valuable insights into the functioning of China’s hotel industry.

Keywords: mobile hotel booking, hotel m-bookers, user perception, China’s WeChat mini program, hotel booking apps.

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Authors: Konstantinos G. Papaioannou, Panagiotis K. Serdaris

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This study, examines the level of implementation of Human Resource Management (HRM) activities in law enforcement agencies in Greece. Recognizing that HRM is crucial for maximizing organizational performance, the study aims to evaluate its application within Greek law enforcement. A quantitative-descriptive survey was conducted, involving 996 executives from Greek Law Enforcement Agencies (477 from the Hellenic Police and 519 from the Hellenic Coast Guard), through random sampling. The survey, revealed significant concerns regarding the minimal implementation of HRM practices, in both agencies. The findings indicate that HRM practices, such as HR planning, recruitment, job position, selection, training and development, personnel management, compensation, labor relations and health and safety, are minimally applied. Neither the Hellenic Police nor the Hellenic Coast Guard appears to follow a comprehensive HRM plan. The study, contributes both theoretically and practically by highlighting the lack of HRM implementation in these agencies. The data suggest that by adopting strategic HRM practices, these organizations can enhance personnel performance and better fulfill their societal roles. Future research should extend to law enforcement agencies in other countries to draw more representative conclusion.

Keywords: coastguard, human resources management, law enforcement agencies, performance management, police

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Authors: Mónika Garai-Fodor, Nikoett Huszak

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In the present study, we investigate the cognitive aspects of conscious consumer behaviour among Generation Z members. In our view, conscious consumption can greatly help to foster social responsibility, environmental and health-conscious behaviour, and ethical consumerism. We believe that it is an important educational task to promote and reinforce consumer behaviour among young people that increases and creates community value. In this study, we analysed the dimensions of young people's conscious consumer behaviour and its manifestation in concrete forms of behaviour, purchasing, and consumer decisions. As a result of a survey conducted through a snowball sampling procedure, the responses of 200 respondents who are members of Generation Z were analysed. The research analysed young people's perceptions and opinions of conscious living and their perceptions of self-conscious consumer behaviour. The primary research used a pre-tested standardised online questionnaire. Data were evaluated using bivariate and multivariate analyses in addition to descriptive statistics. The research presents results that are valid for the sample, and we plan to continue with a larger sample survey and extend it to other generations. Our main objective is to analyse what conscious living means to young people, what behavioural elements they associate with it, and what activities they themselves undertake in this context.

Keywords: generation Z, conscious consumption, primary research, sustainability

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Authors: Anchal Gupta

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Amid the escalating digitalization and deployment of cross-border technological solutions, a significant portion of the industry and regulatory bodies have begun to pose queries concerning the formulation, computation, and contemplation of concentration risk. In the financial sector, well-established parameters exist for gauging the concentration of a portfolio and similar elements. However, a unified framework appears to be absent, which could guide industry and regulators pertaining to non-financial concentration risk. This paper introduces a framework, constructed on the foundation of multiple regulations where regulators are advocating for licensed corporations to evaluate their concentration risk. The lacuna lies in the fact that, while regulators delineate what constitutes concentration risk, unlike other domains, no guidelines are provided that could assist firms. This frequently results in ambiguity and individual corporate interpretation, which, from a risk management standpoint, is less than ideal.

Keywords: concentration risk, non-financial risk, government regulation, financial regulation, non-market risk, MAS, DORA, EDSP, SFC

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Authors: Morteza Rahiminejad

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There are over 1200 cities and municipalities all around Iran, including 30 mega cities, which municipal organizations, Interior ministries, and city councils supervise. Even so, there has been neither any research about the process of success nor performance assessment in municipalities. In this research an attempt is made to build a comprehensive theory (or model) to show the reasons or success process among the local governments. The present research is based on the contingency approach in which the relevant circumstances are important, and both environment and situations call for their own management methods. The methodology of research is grounded theory, which uses Atlas.ti software as a tool.

Keywords: success, municipality, Iran, theory building

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Authors: Cheng-yu Hsieh, Bo Zhang, Ahmed Hambaba

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Stock market prediction has long been an area of interest for both expert analysts and investors, driven by its complexity and the noisy, volatile conditions it operates under. This research examines the efficacy of combining the Patch Time Series Transformer (PatchTST) with wavelet transforms, specifically focusing on Haar and Daubechies wavelets, in forecasting the adjusted closing price of the S&P 500 index for the following day. By comparing the performance of the augmented PatchTST models with traditional predictive models such as Recurrent Neural Networks (RNNs), Convolutional Neural Networks (CNNs), Long Short-Term Memory (LSTM) networks, and Transformers, this study highlights significant enhancements in prediction accuracy. The integration of the Daubechies wavelet with PatchTST notably excels, surpassing other configurations and conventional models in terms of Mean Absolute Error (MAE) and Mean Squared Error (MSE). The success of the PatchTST model paired with Daubechies wavelet is attributed to its superior capability in extracting detailed signal information and eliminating irrelevant noise, thus proving to be an effective approach for financial time series forecasting.

Keywords: deep learning, financial forecasting, stock market prediction, patch time series transformer, wavelet transform

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Authors: Karim Monir Halim Salib

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The article discusses the use of modern technology to achieve environmental marketing goals in business and customer relations. The purpose of this article is to show the possibilities of the application of modern technology. In B2C relationships, marketing departments face challenges arising from the need to quickly segment customers and share information across multiple systems, which seriously hinders the achievement of marketing objectives. Therefore, the Article states that modern IT solutions are used in the marketing of business activities, taking into account environmental objectives. For this reason, its importance in the economic and social development of developing countries has increased. While traditional companies emphasize profit as the most important business principle, social enterprises have to address social issues at the expense of profit. This mindset gives social enterprises more than traditional businesses to meet the needs of those at the bottom of the pyramid. This also poses a great challenge for social business, as social business works for the public good on the one hand and financial stability on the other. Otherwise, the company cannot be evacuated. Cultures are involved in business communication and research. Using the example of language in international relations, the article poses the problem of cultural discourse in management and linguistic and cultural studies. After reviewing current research on language in international relations, this article presents communication methods in the international economy from a linguistic perspective and attempts to explain communication problems in business from the perspective of linguistic research. A step towards multidisciplinary research combining research in management and linguistics.

Keywords: international marketing, marketing mix, marketing research, small and medium-sized enterprises, strategic marketing, B2B digital marketing strategy, digital marketing, digital marketing maturity model, SWOT analysis consumer behavior, experience, experience marketing, marketing employee organizational performance, internal marketing, internal customer, direct marketing, mobile phones mobile marketing, Sms advertising.

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Authors: Markou Vasiliki, Serdaris Panagiotis

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The consumer behavior and decision-making process of consumers is a process that is affected by the factor of uncertainty. The onslaught of the Covid 19 pandemic has changed the consumer decision-making process in many ways. This change can be seen both in the buying process (how and where they shop) but also in the types of goods and services they are looking for. In addition, due to the mainly economic uncertainty that came from this event, but also the effects on both society and the economy in general, new consumer behaviors were created. Traditional forms of shopping are no longer a primary choice, consumers have turned to digital channels such as e-commerce and social media to fulfill needs. The purpose of this particular article is to examine how much the consumer's decision-making process has been affected after the pandemic and if consumer behavior has changed. An online survey was conducted to examine the change in decision making. Essentially, the demographic factors that influence the decision-making process were examined, as well as the social and economic factors. The research is divided into two parts. The first part included a literature review of the research that has been carried out to identify the factors, and the second part where the empirical investigation was carried out using a questionnaire and was done electronically with the help of Google Forms. The questionnaire was divided into several sections. They included questions about consumer behavior, but mainly about how they make decisions today, whether those decisions have changed due to the pandemic, and whether those changes are permanent. Also, for decision-making, goods were divided into essential products, high-tech products, transactions with the state and others. Αbout 500 consumers aged between 18 and 75 participated in the research. The data was processed with both descriptive statistics and econometric models. The results showed that the consumer behavior and decision-making process has changed. Now consumers widely use the internet for shopping, consumer behaviors and consumer patterns have changed. Social and economic factors play an important role. Income, gender and other factors were found to be statistically significant. In addition, it is worth noting that the percentage who made purchases during the pandemic through the internet for the first time was remarkable and related to age. Essentially, the arrival of the pandemic caused uncertainty for individuals, mainly financial, and this affected the decision-making process. In addition, shopping through the internet is now the first choice, especially among young people, and it seems that it is about to become established.

Keywords: consumer behavior, decision making, COVID-19, Greece, behavior change

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Authors: Peng Liu, Chyng Wen Tee, Xiaofei Xu

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This paper integrates machine learning forecasting techniques into the multi-period portfolio optimization framework, enabling dynamic asset allocation based on multiple future periods. We explore both theoretical foundations and practical applications, employing diverse machine learning models for return forecasting. This comprehensive guide demonstrates the superiority of multi-period optimization over single-period approaches, particularly in risk mitigation through strategic rebalancing and enhanced market trend forecasting. Our goal is to promote wider adoption of multi-period optimization, providing insights that can significantly enhance the decision-making capabilities of practitioners and researchers alike.

Keywords: multi-period portfolio optimization, look-ahead constrained optimization, machine learning, sequential decision making

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Authors: A. Yongsheng Guo, B. Obedat. Abdulazeez, C. Xiaoxian Zhu

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This study aimed to identify the barriers to the development of small and medium-sized enterprises (SMEs) in China and build a theoretical framework to evaluate the support provided by the authorities and institutions. A grounded theory approach was adopted to collect and analyze data. 32 interviews were conducted with SME managers, and open, axial and selective coding was utilized to develop themes. Based on institutional theory, grounded theory models were used to present findings. The findings showed that the main barriers in the business environment were defaulting on contracts, bureaucracy in procedures, lack of financial and legal support, limited intermediaries and channels, and poor quality of products and services. This study found that many programs were provided to support SMEs. A theoretical framework was developed to evaluate the performance of the programs from the managers’ perspective. The concepts of economy, efficiency and effectiveness were used to evaluate the perceived value of the programs. This study suggests that specialized programs are needed to suit sector-specific requirements, and creative packages are helpful in supporting SMEs' growth.

Keywords: business support, public economics, public programme, SME

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Authors: Gerges Samaan Henin Abdalla

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Ultra-secured methods of banking services have been introduced to the customer, such as online banking. Banks have begun to consider electronic banking (e-banking) as a way to replace some traditional branch functions by using the Internet as a distribution channel. Some consumers have at least one account at multiple banks and access these accounts through online banking. To check their current net worth, clients need to log into each of their accounts, get detailed information, and work toward consolidation. Not only is it time consuming, but it is also a repeatable activity with a certain frequency. To solve this problem, the concept of account aggregation was added as a solution. Account consolidation in e-banking as a form of electronic banking appears to build a stronger relationship with customers. An account linking service is generally referred to as a service that allows customers to manage their bank accounts held at different institutions via a common online banking platform that places a high priority on security and data protection. Consumers have at least one account at multiple banks and access these accounts through online banking. To check their current net worth, clients need to log into each of their accounts, get detailed information, and work toward consolidation. The article provides an overview of the account aggregation approach in e-banking as a new service in the area of e-banking.

Keywords: compatibility, complexity, mobile banking, observation, risk banking technology, Internet banks, modernization of banks, banks, account aggregation, security, enterprise development

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Authors: Aron Witkowski, Andrzej Wodecki

Abstract:

Purpose: This study aims to explore the feasibility and effectiveness of utilizing Generative Artificial Intelligence (GenAI) agents as product managers within the manufacturing sector. It seeks to evaluate whether current GenAI capabilities can fulfill the complex requirements of product management and deliver comparable outcomes to human counterparts. Study Design/Methodology/Approach: This research involved the creation of a support application for product managers, utilizing high-quality sources on product management and generative AI technologies. The application was designed to assist in various aspects of product management tasks. To evaluate its effectiveness, a study was conducted involving 10 experienced product managers from the manufacturing sector. These professionals were tasked with using the application and providing feedback on the tool's responses to common questions and challenges they encounter in their daily work. The study employed a mixed-methods approach, combining quantitative assessments of the tool's performance with qualitative interviews to gather detailed insights into the user experience and perceived value of the application. Findings: The findings reveal that GenAI-based product management agents exhibit significant potential in handling routine tasks, data analysis, and predictive modeling. However, there are notable limitations in areas requiring nuanced decision-making, creativity, and complex stakeholder interactions. The case study demonstrates that while GenAI can augment human capabilities, it is not yet fully equipped to independently manage the holistic responsibilities of a product manager in the manufacturing sector. Originality/Value: This research provides an analysis of GenAI's role in product management within the manufacturing industry, contributing to the limited body of literature on the application of GenAI agents in this domain. It offers practical insights into the current capabilities and limitations of GenAI, helping organizations make informed decisions about integrating AI into their product management strategies. Implications for Academic and Practical Fields: For academia, the study suggests new avenues for research in AI-human collaboration and the development of advanced AI systems capable of higher-level managerial functions. Practically, it provides industry professionals with a nuanced understanding of how GenAI can be leveraged to enhance product management, guiding investments in AI technologies and training programs to bridge identified gaps.

Keywords: generative artificial intelligence, GenAI, NPD, new product development, product management, manufacturing

Procedia PDF Downloads 41

Authors: Farhia Hassan Mohamed

Abstract:

This study examined the macroeconomic factors that affect the inflation Rate in Somalia using quarterly time series data from 1991q1 to 2017q4 retired from World Development Indicators and SESRIC. It employed the vector error correction model (VECM) and Granger Causality method to measure the long-run and short-run causality of the GDP, inflation exchange rate, and unemployment. The study confirmed that there is one cointegration equation between GDP, exchange rate, inflation, and unemployment in Somalia. However, the VECM model's result indicates a long-run relationship among variables. The VEC Granger causality/Block Exogeneity Wald test result confirmed that all covariates are statistically significant at 5% and are Granger's cause of inflation in the short term. Finally, the impulse response result showed that inflation responds negatively to the shocks from the exchange rate and unemployment rate and positively to GDP and itself. Drawing from the empirical findings, the study makes several policy recommendations for both the monetary and Government sides.

Keywords: CPI, OP, exchange rate, inflation ADF, Johansen, PP, VECM, impulse, ECT

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Authors: Najah Kalifah Almazmomi

Abstract:

In the time of artificial intelligence (AI), there is a need to know the determinants of success in business management, which are taking on a new dimension. This research purports to scrutinize the Critical Success Factors (CSFs) that drive and ignite the fire of success to help uncover the subtle and profound dynamics that might be operative in organizations. By means of a systematic literature review and a number of empirical methods, the paper is aimed at determining and assessing the key aspects of CSFs, putting emphasis on their role and meaning in the context of AI technology adoption. Some central features such as leadership ways, innovation models, strategic thinking methodologies, organizational culture transformations, and human resource management approaches are compared and contrasted with the AI-driven revolution. Additionally, this research will explore the interactive effects of these factors and their joint impact on the success, survival, and flexibility of a business in the current environment, which is changing due to AI development. Through the use of different qualitative and quantitative methodologies, the research concludes that the findings are significant in understanding the relative roles of individual CSFs and in studying the interactions between them in such an AI-enabled business environment.

Keywords: critical success factors, business and management, artificial intelligence, leadership strategies

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Authors: Soheila Ghanbari

Abstract:

After the Civil Rights Act of 1964 was enacted, federal policy transformed employment rights. Equal employment opportunity law, legislation for occupational safety and health, and regulations for fringe benefits were established to ensure that employees have rights to equal protection, health and safety, and the benefits guaranteed by employers. In research analyzing data from 279 organizations over time, it was discovered that legal changes prompted organizations to establish personnel, antidiscrimination, safety, and benefits departments to ensure compliance. However, as the process of institutionalization advanced, middle managers began to separate these fresh offices from policy and rationalize them solely in economic terms as a component of the new human resources management model. This common occurrence is seen in the United States, where the Constitution represents government control of business as unlawful. It could potentially clarify the extended lack of a state theory in organizational analysis and shed light on a puzzle pointed out by state theorists: the federal state is weak in terms of administration but strong in terms of norms.

Keywords: management, state, human, resources, employment

Procedia PDF Downloads 42

Authors: Huda Zakaria

Abstract:

The concept of the glass ceiling persists as a barrier to women's advancement in leadership roles, shaped significantly by organizational culture and climate. This study examines the impact of organizational culture on advancing women to top leadership roles in the Egyptian banking sector. The research explores how varying organizational cultures and climates either facilitate or hinder women's progress in breaking through the glass ceiling. Data suggests that women are underrepresented in senior management positions globally, including in Egypt, indicating a barrier to their advancement. Organizational norms often align more with masculine traits, creating challenges for women in leadership. Stereotypes and biases affect how women are treated, leading to limited advancement opportunities and a lack of sponsors advocating for their skills. Female managers also exhibit lower levels of career confidence compared to male counterparts. To address these issues, organizations must tackle cultural biases and provide equal opportunities to promote genuine gender diversity and empower women in leadership roles. Understanding the impact of organizational culture is crucial for creating inclusive workplaces that foster gender equality and provide equal opportunities for women to succeed in leadership roles.

Keywords: glass ceiling, leadership, banking, bias

Procedia PDF Downloads 46