World Academy of Science, Engineering and Technology

Authors: Mohammad Rahim Rahnama

Abstract:

The study employs Monte Carlo method for simulation of rented housing in Mashhad second largest city in Iran. A total number of 334 rental residential units in Mashhad, including both apartments and houses (villa), were randomly selected from advertisements placed in Khorasan Newspapers during the months of July and August of 2015. In order to simulate the monthly rent price, the rent index was calculated through combining the mortgage and the rent price. In the next step, the relation between the variables of the floor area and that of the number of bedrooms for each unit, in both apartments and houses(villa), was calculated through multivariate regression using SPSS and was coded in XML. The initial model was called using simulation button in SPSS and was simulated using triangular and binominal algorithms. The findings revealed that the average simulated rental index was 548.5$ per month. Calculating the sensitivity of rental index to a number of bedrooms we found that firstly, 97% of units have three bedrooms, and secondly as the number of bedrooms increases from one to three, for the rent price of less than 200$, the percentage of units having one bedroom decreases from 10% to 0. Contrariwise, for units with the rent price of more than 571.4$, the percentage of bedrooms increases from 37% to 48%. In the light of these findings, it becomes clear that planning to build rental residential units, overseeing the rent prices, and granting subsidies to rental residential units, for apartments with two bedrooms, present a felicitous policy for regulating residential units in Mashhad.

Keywords: Mashhad, Monte Carlo, simulation, rent price, residential unit

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Authors: Nilesh Pancholi, Mangal Bhatt

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This paper highlights comparative results of traditional FMECA and multi-factor decision-making approach based on “Technique for Order Preference by Similarity to Ideal Solution (TOPSIS)” for aluminum wire rolling mill plant. The suggested study is carried out to overcome the limitations of FMECA by assigning the scores against each failure modes in crisp values to evaluate the criticalities of the failure modes without uncertainty. The primary findings of the paper are that sudden impact on the rolls seems to be most critical failure cause and high contact stresses due to rolling & sliding action of mesh to be least critical failure cause. It is suggested to modify the current control practices with proper maintenance strategy based on achieved maintainability criticality index (MCI). The outcome of the study will be helpful in deriving optimized maintenance plan to maximize the performance of continuous process industry.

Keywords: reliability, maintenance, FMECA, TOPSIS, process industry

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Authors: Mohammed Ali Ahmed, Vaughan Coffey, Bo Xia

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Quality management systems (QMSs) in the construction industry are often implemented to ensure that sufficient effort is made by companies to achieve the required levels of quality for clients. Attainment of these quality levels can result in greater customer satisfaction, which is fundamental to ensure long-term competitiveness for construction companies. However, the construction sector is still lagging behind other industries in terms of its successful adoption of QMSs, due to the relative lack of acceptance of the benefits of these systems among industry stakeholders, as well as from other barriers related to implementing them. Thus, there is a critical need to undertake a detailed and comprehensive exploration of adoption of QMSs in the construction sector. This paper comprehensively investigates in the construction sector setting, the impacts of all the salient factors surrounding successful implementation of QMSs in building organizations, especially those of external factors. This study is part of an ongoing PhD project, which aims to develop a new framework that integrates both internal and external factors affecting QMS implementation. To achieve the paper aim and objectives, interviews will be conducted to define the external factors influencing the adoption of QMSs, and to obtain holistic critical success factors (CSFs) for implementing these systems. In the next stage of data collection, a questionnaire survey will be developed to investigate the prime barriers facing the adoption of QMSs, the CSFs for their implementation, and the external factors affecting the adoption of these systems. Following the survey, case studies will be undertaken to validate and explain in greater detail the real effects of these factors on QMSs adoption. Specifically, this paper evaluates the effects of the external factors in terms of their impact on implementation success within the selected case studies. Using findings drawn from analyzing the data obtained from these various approaches, specific recommendations for the successful implementation of QMSs will be presented, and an operational framework will be developed. Finally, through a focus group, the findings of the study and the new developed framework will be validated. Ultimately, this framework will be made available to the construction industry to facilitate the greater adoption and implementation of QMSs. In addition, deployment of the applicable recommendations suggested by the study will be shared with the construction industry to more effectively help construction companies to implement QMSs, and overcome the barriers experienced by businesses, thus promoting the achievement of higher levels of quality and customer satisfaction.

Keywords: barriers, critical success factors, external factors, internal factors, quality management systems

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Authors: Jonathan Marks, Lauren Katz

Abstract:

Family firms are a vital component of a country’s stability, prosperity and development. Their sustainability, longevity and continuity are critical. Given the premise that family firms wish to continue the business for the benefit of the family, the family founder / owner is faced with an emotionally charged transition option; either to transfer the family business to a family member or to transfer the firm to a non-family member. The rationale employed by family founders to select non-family members as successors/ executives of choice and the concomitant rationale employed by non-family members to select family firms as employers of choice, has been under-researched in the literature of family business succession planning. This qualitative study used semi-structured interviews to gain access to family firm founders/ owners, non-family successors/ executives and industry experts on family business. The findings indicated that the rationale for family members to select non-family successors/ executives was underpinned by the objective to grow the family firm for the benefit of the family. If non-family members were the most suitable candidates to ensure this outcome, family members were comfortable to employ non-family members. Non- family members, despite the knowledge that benefit lay primarily with family members, chose to work for family firms for personal benefits in terms of wealth, security and close connections. A commonly shared value system was a pre-requisite for all respondents. The research study provides insights from family founders/ owners, non-family successors/ executives, and industry experts on the subject of succession planning outside the family structure.

Keywords: agency theory, family business, institutional logics, non-family successors, Stewardship Theory

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Authors: Rizqi W. Romadhon, Nur Arifan

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Halal Tourism is a part of tourism industry which is based on Islamic Principle and addressed to the Muslim tourist. The potency of halal tourism is very broad to be developed, because the growth of Muslim populations is rapidly increasing. Indonesia is one of the biggest countries with Majority of its population is Muslim, therefore human resources and natural resources have very good potential to be part of the Halal tourism industry. But the fact is Indonesia can not optimize the potential of human resources and natural resources as well as neighboring countries carried out. This paper will discuss the reasons of the importance of developing Halal tourism, and the factors influencing the success of developing halal tourism in Indonesia, and also the optimization strategies which can be adopted by the government so that the Halal tourism industry in Indonesia has a sustainable competitive advantage. The existence of this research is expected to government, tourism agents and others can optimize the potency of Indonesia’s Human resources and natural resources for developing Halal tourism industry in Indonesia.

Keywords: halal tourism, Islamic principle, optimization, sustainable competitive advantage

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Authors: Khajeerat Phumpurk

Abstract:

This research aims to study the knowledge, attitude toward household accounting of people in Bangkeaw Samutsongkhram. The sample use in this study was the people in tambol bangkeao Mueang Samut songkhram province. The Sample size for 100 household by using the accidental sampling and data collection was a questionnaire. Statistical analysis for frequency, percentage, mean, minimum, maximum value and standard deviation. It was found that the most of the respondent are farmers for 63.4. Most of them are male, with average of age 49.54 years. The education is vocational. The average household income is 60,873.74 per year. The respondent has the debt with the bank for 64.4 percent. The greatest influence to do the household accounting of farmers is the bank expertise. All the advice about doing household accounts get it from the staff of the bank for agriculture and agricultural cooperatives. The farmers for 57.3 do household accounting during the night time.

Keywords: Bangkeaw Samutsongkhram, household accounting, knowledge, sufficiency economy

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Authors: Pratheeba Subramanian, Anjula Gurtoo, Mary Mathew

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Transaction of patents in emerging patent markets is gaining momentum. Pricing patents for a transaction say patent sale remains a challenge. Patents vary in their pricing with some patents fetching higher prices than others. Sale of patents in portfolios further complicates pricing with multiple patents playing a role in pricing a bundle. In this paper, a set of 138 US patents sold individually as single invention lots and 462 US patents sold in bundles of 120 portfolios are investigated to understand the dynamics of selling prices of singletons and portfolios and their determinants. Firstly, price variations when patents are sold individually as singletons and portfolios are studied. Multivariate statistical techniques are used for analysis both at the lot level as well as at the individual patent level. The results show portfolios fetching higher prices than singletons at the lot level. However, at the individual patent level singletons show higher prices than per patent price of individual patent members within the portfolio. Secondly, to understand the price determinants, the effect of patent, seller, and bundling related characteristics on selling prices is studied separately for singletons and portfolios. The results show differences in the set of characteristics determining prices of singletons and portfolios. Selling prices of singletons are found to be dependent on the patent related characteristics, unlike portfolios whose prices are found to be dependent on all three aspects – patent, seller, and bundling. The specific patent, seller and bundling characteristics influencing selling price are discussed along with the implications.

Keywords: auction, patents, portfolio bundling, seller type, selling price, singleton

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Authors: Kamil Jonski

Abstract:

Last year vividly demonstrated, that populism and political instability can endanger democratic institutions in countries regarded as democratic transition champions (Poland) or cornerstones of liberal order (UK, US). So called ‘illiberal democracy’ is winning hearts and minds of voters, keen to believe that rule of strongman is a viable alternative to perceived decay of western values and institutions. These developments pose a serious threat to the democratic institutions (including rule of law), proven critical for both personal freedom and economic development. Although scholars proposed some structural explanations of the illiberal wave (notably focusing on inequality, stagnant incomes and drawbacks of globalization), they seem to have little predictive value. Indeed, events like Trump’s victory, Brexit or Polish shift towards populist nationalism always came as a surprise. Intriguingly, in the case of US election, simple rules like ‘Bread and Peace model’ gauged prospects of Trump’s victory better than pundits and pollsters. This paper attempts to compile set of indicators, in order to gauge various democracies’ vulnerability to populism, instability and pursuance of ‘illiberal’ projects. Among them, it identifies the gap between consensus assessment of institutional performance (as measured by WGI indicators) and citizens’ subjective assessment (survey based confidence in institutions). Plotting these variables against each other, reveals three clusters of countries – ‘predictable’ (good institutions and high confidence, poor institutions and low confidence), ‘blind’ (poor institutions, high confidence e.g. Uzbekistan or Azerbaijan) and ‘disillusioned’ (good institutions, low confidence e.g. Spain, Chile, Poland and US). It seems that this clustering – carried out separately for various institutions (like legislature, executive and courts) and blended with economic indicators like inequality and living standards (using PCA) – offers reasonably good watchlist of countries, that should ‘expect the unexpected’.

Keywords: illiberal democracy, populism, political instability, political risk measurement

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Authors: Olga Shvetsova

Abstract:

The research paper contains the different issues of competence management in innovation companies. The theoretical bases of human resources management and practical issues of innovative enterprises’ competitiveness are considered. The research is focused on the modern innovative enterprise management problems; it focuses on the effective management of the personnel of innovative enterprises on the basis of competence approach. The concept of core competence approach is discussed. The point of view, that the key competences of the company create the competitive advantages, support strategy development and protect business from external negative factors is considered. The used methodology is background research.

Keywords: competence model, competitiveness, innovation management, implementation

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Authors: Mohamad H. Atyeh, Wael Alrashed, Steven Telford

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The main objective of this research is to measure if there have been any notable changes in the trading actives of the Kuwait stock Exchange (KSE) after the privatization process that took place on the 25th of April 2016. The data that are used to test if there is any change in the KSE market performance are the daily indices for the period from the 25th of April 2016 till the 24th of October 2016 (after privatization) and a similar six months period before the date of the privatization from the 24th of October 2015 till the 24th of April 2016. In addition, as a control, the study included a period that is a period parallel to the six months period after the privatization. The results indicate that privatization is associated with lower variability for the majority of variables, but that the observed switch in slope direction is not actually a product of privatization, but rather one of serial correlation.

Keywords: privatization, Kuwait stock exchange (KSE), market capitalization (MCAP), capital markets authority (CMA), Boursa Kuwait securities company (BKSC)

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Authors: A. Briseno, A, Zorrilla

Abstract:

Firms are increasingly responding to social and environmental claims from society. Practices oriented to attend issues such as poverty, work equality, or renewable energy, are being implemented more frequently by firms to address impacts on sustainability. However, questions remain on how the responses of firms vary across industries and regions between the social and the economic objectives. Using concepts from organizational theory and social network theory, this paper aims to create a theoretical framework that explains the internal and external influences that make a firm establish its objective. The framework explains why firms might have a different objective orientation in terms of its economic and social prioritization.

Keywords: organizational identity, social network theory, firm objective, value maximization, social responsibility

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Authors: Elsie L. Echeverri-Carroll

Abstract:

Entrepreneurial ecosystems have become an important concept to explain the birth and sustainability of technology-based entrepreneurship within regions. However, as a theoretical concept, the temporal evolution of entrepreneurship systems remain underdeveloped, making it difficult to understand their dynamic contributions to entrepreneurs. This paper argues that successful technology-based ecosystems go over three cumulative spawning stages: corporate spawning, entrepreneurial spawning, and community spawning. The importance of corporate incubation in vibrant entrepreneurial ecosystems is well documented in the entrepreneurial literature. Similarly, entrepreneurial spawning processes for venture capital-backed startups are well documented in the financial literature. In contrast, there is little understanding of both the third stage of entrepreneurial spawning (when a community of entrepreneurs become a source of firm spawning) and the temporal sequence in which spawning effects occur in a region. We test this three-stage model of entrepreneurial spawning using data from two large databases on firm births—the Secretary of State (160,000 observations) and the National Establishment Time Series (NEST with 150,000 observations)—and information collected from 60 1½-hour interviews with startup founders and representatives of key entrepreneurial organizations. This temporal model is illustrated with case study of Austin, Texas ranked by the Kauffman Foundation as the number one entrepreneurial city in the United States in 2015 and 2016. The 1½-year study founded by the Kauffman Foundation demonstrates the importance of taken into consideration the temporal contributions of both large and entrepreneurial firms in understanding the factors that contribute to the birth and growth of technology-based entrepreneurial regions. More important, these learnings could offer an important road map for regions that pursue to advance their entrepreneurial ecosystems.

Keywords: entrepreneurial ecosystems, entrepreneurial industrial clusters, high-technology, temporal changes

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Authors: M. Bevilacqua, F. E. Ciarapica, G. Marcucci

Abstract:

Supply Chain Resilience has been broadly studied during the last decade, focusing the research on many aspects of Supply Chain performance. Consequently, different definitions of Supply Chain Resilience have been developed by the research community, drawing inspiration also from other fields of study such as ecology, sociology, psychology, economy et al. This way, the definitions so far developed in the extant literature are therefore very heterogeneous, and many authors have pointed out a lack of consensus in this field of analysis. The aim of this research is to find common points between these definitions, through the development of a framework of study: the Resilience Triangle. The Resilience Triangle is a tool developed in the field of civil engineering, with the objective of modeling the loss of resilience of a given structure during and after the occurrence of a disruption such as an earthquake. The Resilience Triangle is a simple yet powerful tool: in our opinion, it can summarize all the features that authors have captured in the Supply Chain Resilience definitions over the years. This research intends to recapitulate within this framework all these heterogeneities in Supply Chain Resilience research. After collecting a various number of Supply Chain Resilience definitions present in the extant literature, the methodology approach provides a taxonomy step with the scope of collecting and analyzing all the data gathered. The next step provides the comparison of the data obtained with the plotting of a disruption profile, in order to contextualize the Resilience Triangle in the Supply Chain context. The tool and the results developed in this research will allow to lay the foundation for future Supply Chain Resilience modeling and measurement work.

Keywords: supply chain resilience, resilience definition, supply chain resilience triangle

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Authors: Kun Huang

Abstract:

This paper investigates whether the combination of local and stochastic volatility models can be calibrated exactly to any arbitrage-free implied volatility surface of European option. The risk neutral Brownian Bridge density is applied for calibration of the leverage function of our Hybrid model. Furthermore, the tails of marginal risk neutral density are generated by Generalized Extreme Value distribution in order to capture the properties of asset returns. The local volatility is generated from the arbitrage-free implied volatility surface using stochastic volatility inspired parameterization.

Keywords: arbitrage free implied volatility, calibration, extreme value distribution, hybrid model, local volatility, risk-neutral density, stochastic volatility

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Authors: Pradeep Kumar, Shibashish Chakraborty, Sasadhar Bera

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In the anticipation of demand fluctuations, services cannot be inventoried and hence it creates a difficult problem in marketing of services. The inability to meet customers (patients) requirements in healthcare context has more serious consequences than other service sectors. In order to meet patient requirements in the current uncertain environment, healthcare organizations are seeking ways for improved service delivery. Flexibility provides a mechanism for reducing variability in service encounters and improved performance. Flexibility is defined as the ability of the organization to cope with changing circumstances or instability caused by the environment. Patient satisfaction is an important performance outcome of healthcare organizations. However, the paucity of information exists in healthcare delivery context to examine the impact of flexibility on patient satisfaction and behavioral intention. The present study is an attempt to develop a conceptual foundation for investigating overall impact of flexibility on patient satisfaction and behavioral intention. Several dimensions of flexibility in healthcare context are examined and proposed to have a significant impact on patient satisfaction and intention. Furthermore, the study involves a critical examination of determinants of patient satisfaction and development of a comprehensive view the relationship between flexibility, patient satisfaction and behavioral intention. Finally, theoretical contributions and implications for healthcare professionals are suggested from flexibility perspective.

Keywords: healthcare, flexibility, patient satisfaction, behavioral intention

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Authors: Louati Salma, Louhichi Awatef, Boujelbene Younes

Abstract:

Analysis of the trade-off between competition and financial stability has been at the center of academic and policy debate for over two decades and especially since the 2007-2008 global financial crises. We use information on 10 OIC countries from 2005 to 2014 to investigate the influence of bank competition on individual bank stability and risk-taking. Alternatively, we explore whether the quality of prudential regulation may affect the nexus between competition and banking stability/risk-taking. We provide a particular attention to the Islamic banking system which principally involves with the Riba-free instruments as compared to the conventional interest-based system. We first run a dynamic panel regression (GMM), and then we apply a panel vector autoregressive (PVAR) methodology to compare both banking business models.

Keywords: Lerner index, Islamic banks, non-performing loans, prudential regulations, z-score

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Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler

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Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.

Keywords: economic development, entrepreneurship, innovation program, developed countries

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Authors: Khansa Hayat

Abstract:

Organizational stress is one of the vital phenomena which is having its roots deep down in has deep roots in management, psychology, and organizational behavior research. In the meanwhile, keeping its focus on the positive strength of humans rather than the traditional negativity oriented research, positive psychology has emerged as a separate branch of organizational behavior. The current study investigates the interactive effects of Challenge and hindrance stressors and core Self Evaluations (CSE’s) of the individual on job performances including the in-role performance and extra role performances. The study also aims to investigate the supporting/buffering role of the human dispositions (i.e., self esteem, self efficacy, locus of control and emotional stability). The results show that Challenge stressors have a significant positive effect on in role performance and extra role performance of the individual. The findings of the study indicate that Core Self evaluations strengthen the relationship between challenge stressors and in role performance of the individual. In case of Hindrance Stressors the Core self Evaluations lessen the negative impact of Hindrance stressors and they let the individual perform at a better and normal position even when the Hindrance stressors are high. The relationship and implication of conservation of resource theory are also discussed. The limitations, future research directions and implications of the study are also discussed.

Keywords: challenge-hindrance stressors, core self evaluations, in-role performance, extra-role performance

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Authors: Babatunde Akeem Lawal

Abstract:

In any organization, the primary aim is to maximize profit, but the major challenges facing them is the increase in cost of operation because of this there is increase in cost of production that could lead to inevitable cost control and cost reduction scheme which make it difficult for most organizations to operate at the cost efficient frontier. The study aims to critically examine and evaluate the application of cost control and cost reduction in organization performance and also to review budget as an effective tool of cost control and cost reduction. A descriptive survey research was adopted. A total number of 40 respondent retrieved were used for the study. The analysis of data collected was undertaken by applying appropriate statistical tools. Regression analysis was used to test the hypothesis with the use of SPSS. Based on the findings; it was evident that cost control has a positive impact on organizational performance and also the style of management has a positive impact on organizational performance.

Keywords: organization, cost reduction, cost control, performance, budget, profit

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Authors: Paul O. Udofot, Emem B. Inyang

Abstract:

The study investigated the variability in aptitude amidst interactive effects of several social and environmental factors that could influence individual tendencies to engage in entrepreneurship in Nigeria. Consequently, the study targeted a population having similar backgrounds in type and level of higher education that are tailored toward enterprise management and development in the Niger Delta region of Nigeria. A two-stage sampling procedure was used to select 67 respondents. Primarily, the study assessed the salient pattern of entrepreneurship aptitude of respondents, and estimated and analyzed the index against their personal characteristics. Male respondents belonged to two extremes of aptitude index ranges (poor and high). Though female respondents did not exhibit a poor entrepreneurship aptitude index, the incidence percentage of the high index range of entrepreneurship aptitude among male trainees was more than the combined incidence percentage of their female counterparts. Respondents’ backgrounds outside gender presented a serious influence on entrepreneurship uptake likelihood if all situations were normal.

Keywords: aptitude, entrepreneurship, entrepreneurial orientation, gender divide, intention, trainee

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Authors: Lutfi AuliaRahman, Hari Rizki Ananda

Abstract:

The traditional food is a typical food of a certain region that has a taste of its own unique and typically consumed by a society in certain areas, one of which is Gudeg, a regional specialties traditional food of Yogyakarta and Central Java which is made of young jackfruit cooked in coconut milk, edible with rice and served with thick coconut milk (areh), chicken, eggs, tofu and sambal goreng krecek. However, lately, the image of traditional food has declined among people, so with gudeg, which today's society, especially among young people, tend to prefer modern types of food such as fast food and some other foods that are popular. Moreover, traditional food usually only preferred by consumers of local communities and lack of demand by consumers from different areas for different tastes. Thus, the traditional food producers increasingly marginalized and their consumers are on the wane. This study aimed to evaluate the management used by producers of traditional food with a case study of Gudeg Sagan which located in the city of Yogyakarta, with the ability of their management in creating core competencies, which includes the competence of cost, competence of flexibility, competence of quality, competence of time, and value-based competence. And then, in addition to surviving and continuing to exist with the existing external environment, Gudeg Sagan can increase the number of consumers and also reach a broader segment of teenagers and adults as well as consumers from different areas. And finally, in this paper will be found positive impact on the creation of the core competencies of the existence and progress of the traditional food business based on case study of Gudeg Sagan.

Keywords: Gudeg Sagan, traditional food, core competencies, existence

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Authors: Farizy Yunaz, Catur Sasongko

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This research aims to provide the empirical evidence regarding cost stickiness behavior and its determinants on listed manufacturing companies. Hypothesis testing is performed using pooled least square method. The result concludes that there is cost stickiness behavior in selling, general and administrative costs. In term of determinants, firm-specific adjustment costs measured by asset intensity and employee intensity have significant positive impact on the level of cost stickiness. Meanwhile, earnings target and leverage have significant negative impact on the level of cost stickiness. However, the management empire building incentives measured by free cash flow has no significant positive impact.

Keywords: adjustment cost, cost behavior, cost stickiness, earnings target, leverage, management empire building incentive

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Authors: Olga A. Shvetsova

Abstract:

The paper contains the different issues of competence management in industrial companies. The theoretical bases of human resources management and practical issues of innovative enterprises’ competitiveness are considered. The research is focused on the modern industrial enterprise changes management problems; it focuses on the effective personnel management of industrial enterprises on the basis of competence approach. The influence of organizational changes on the competence development is discussed. The need for development of the new technologies is mentioned, proposal is based on competence-based approach in personnel management including in the conditions of carrying out organizational changes; methods of acquisition and development of missing key professional competences are discussed; importance of key competencies in forming competitive advantage of the organization is mentioned.

Keywords: competence model, core competencies, development of industrial company, organizational changes, competitiveness

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Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

Abstract:

Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

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Authors: Wildan Maulana, Machfudz Sa'idi

Abstract:

Yogyakarta is a city with the most students in Indonesia, more than 250 thousand students living in Yogyakarta and more than 140 universities in Yogyakarta. Therefore, Yogyakarta is a very strategic place for the culinary business. Food is a basic requirement of all living things, and the tasty food and cheap is the target of almost all students. The objective of this paper is to give an idea and the innovation of culinary business in Yogyakarta who apply the concept sociopreneur and technology as a tool to facilitate the course of this business. KedaiKampus is a startup that brings the food business operators such as food stalls, restaurants or angkringan (a traditional restaurant of Indonesia) and people who want to find the food with the best price and the best taste. The uniqueness of this business is offered weekly and monthly food packages for students in particular or for everyone who needs and will be delivered to their homes each every hour meal. KedaiKampus is also a marketspace for industrial and culinary houses, using technology based mobile application and website will allow the food industry to connect them with customers, but it also allows them to know the customer's desire for food trending in the market. The application to be developed is designed for ease of access to customers in finding their favorite foods and convenience for the culinary home to create amazing culinary innovation.

Keywords: marketplace, sociopreneur, culinary, meal

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Authors: Hatane Semuel, Foedjiawati, Michelle Sunur

Abstract:

This study took the research object of fifteen legal travel agencies in Surabaya. The respondents are taken through purposive sampling of a number of 100 employees out of Fifteen travel agencies which are varied in its division. Service orientation is constructed based on several dimensions; such as, service leadership practices, service encounter practices, human resources management practices, and service system practices. Service skills are constructed with dimensions; namely: technical skills, interpersonal skills, and problem-solving skill. While employee performance is constructed with dimensions; namely: quantity of work, quality of work, timeliness of work and organization of work. The results show that there is a direct positive influence on employee performance service orientation. Additionally, service orientation influences indirectly positive on employee performance through the service skills. Therefore, the total effect of service orientation on employee performance is proven stronger.

Keywords: employee performance, service orientation, service skills, travel agencies

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Authors: Oludele A. Akinboade

Abstract:

The paper discusses cultural aspects of tax compliance of medium size companies (MEs) in South Africa to enhance tax compliance. A survey of 641 companies in eight provinces was made. Racial identities of ME owners are not significant in explaining differences in tax registration compliance. Black ownership of MEs is negatively and highly significantly correlated with pay as you earn compliance. The opposite is found in favour of Asian ME owners. White ownership of MEs is negative and weakly (10%) significantly correlated with company income tax compliance while the opposite is found in favour of Asian ownership. Race is negative and highly significant in explaining White owned MEs value added tax compliance behaviour. The opposite is found in favour of Asian ME owners. Black ownership of MEs is negatively and weakly significantly(10%) associated with timely submission of tax returns.

Keywords: tax compliance, cultural diversity, medium size companies, South Africa

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Authors: Snezana Savoska, Blagoj Ristevski, Violeta Manevska, Zlatko Savoski, Ilija Jolevski

Abstract:

Big data is widely accepted by the pharmaceutical companies as a result of business demands create through legal pressure. Pharmaceutical companies have many legal demands as well as standards’ demands and have to adapt their procedures to the legislation. To manage with these demands, they have to standardize the usage of the current information technology and use the latest software tools. This paper highlights some important aspects of experience with big data projects implementation in a pharmaceutical Macedonian company. These projects made improvements of their business processes by the help of new software tools selected to comply with legal and business demands. They use IT as a strategic tool to obtain competitive advantage on the market and to reengineer the processes towards new Internet economy and quality demands. The company is required to manage vast amounts of structured as well as unstructured data. For these reasons, they implement projects for emerging and appropriate software tools which have to deal with big data concepts accepted in the company.

Keywords: big data, unstructured data, SAP ERP, documentum

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Authors: Mohammad Rahman, Guy Burton, Megan Mathias

Abstract:

Strategic management as an organizational practice was adopted by the public sector in the New Public Management (NPM) era that began in most parts of the world in the 1980s. Strategy as a new public management concept was subscribed by governments in both developed and developing world, as they were persuaded that clearly defined vision, mission and goals, as well as programs and projects - aligned with the goals - could potentially help achieve government vision at the national level and organizational goals at the service-delivery level. The advocates for strategic management in the public sector saw an inherent link between strategy and performance, claiming that the implementation of organizational strategy has an effect on the overall performance of an organization. Arguably, many government entities that have failed in enhancing team and individual performance had poorly-designed strategy or weak strategy implementation. Another key argument about low-level performance is linked with lack of strategic sense-making and orientation by middle managers in particular. Scholars maintain that employees at all levels need to understand strategic management plan in order to facilitate its implementation. Therefore, involving employees (particularly the middle managers) from the beginning potentially helps an organization avoid the drop in performance, and on the contrary would increase their commitment. The United Arab Emirates (UAE) is well known for adopting public sector reform strategies and tools since the 1990s. This observation is contextually pertinent in the case of the Government of Dubai, which has provided a Strategy Execution Guide to all of its entities to achieve high level strategic success in service delivery. The Dubai public sector also adopts road maps for e-Government, Smart Dubai, Expo 2020, investment, environment, education, health and other sectors. Evidently, some of these strategies are bringing tangible (e.g. Smart Dubai transformation) results in a transformational manner. However, the amount of academic research and literature on the strategy process vis-à-vis staff performance in the Government of Dubai is limited. In this backdrop, this study examines how individual performance of public sector employees in Dubai is linked with their sense-making, engagement and orientation with strategy development and implementation processes. Based on a theoretical framework, this study will undertake a sample-based questionnaire survey amongst middle managers in Dubai public sector to (a) measure the level of engagement of middle managers in strategy development and implementation processes as perceived by them; (b) observe the organizational landscape in which role expectations are placed on middle managers; and (c) examine the impact of employee engagement in strategy development process and the conditions for role expectations on individual performance. The paper is expected to provide new insights on the interface between strategic sense-making and performance in order to contribute a better understanding of the current culture/practices of staff engagement in strategic management in the public sector of Dubai.

Keywords: employee performance, government of Dubai, middle managers, strategic sense-making

Procedia PDF Downloads 182

Authors: Lukasz Kurowski, Paweł Smaga

Abstract:

We explore the procyclicality of monetary policy decisions towards the financial cycle in the 1995−2015 period on a sample of six central banks. Using interest rate paths and the credit-to-GDP gap to construct a monetary policy procyclicality ratio, we provide evidence that monetary policy procyclicality was high in BoE and CNB and low in Riksbank and ECB. The results support the need for coordination between macroprudential and monetary policies, for example, by including financial stability considerations to the inflation targeting strategy.

Keywords: central bank, financial stability, macroprudential policy, monetary policy

Procedia PDF Downloads 358