Search results for: technological innovations

Authors: D. Lalitha Rani, K. Sankar Rao

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MSMEs, due to their unique characteristics, are found to have inherent capabilities to undertake technological and non-technological innovations successfully across industries and nations. While there is considerable empirical evidence to throw light on SME innovation contributions in the context of developed countries, there is hardly any evidence to reveal how innovative SMEs are in rapidly industrializing economies like India. Indian MSMEs are largely incremental innovators, prompted by their customers and involved in product and/or process innovations. But majority carried out innovations with internal efforts only whereas the minority which obtained external support, had better technical strength, indulged in more frequent and both product & process innovations. Such MSMEs achieved better innovation performance as well as better economic performance. Some of them internationalized themselves in the process. However such achievements are “an oasis” in the vast Indian SME sector. How to promote (i) innovations, (ii) quality of innovations and (iii) patenting culture among the SMEs is a challenge for Indian Policy Makers. However this paper examines what are the innovation practices which are being carried out in this sector and identified the barriers for innovations in this sector and concludes with proposing some policy recommendations for promoting innovations in MSME sector in India.

Keywords: MSMEs, incremental innovators, policies, non-technological innovations

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Authors: Maha Mourad, Rania Samir

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This paper seeks to explain the adoption of technological innovations in a business to consumer context. Specifically, the use of web based technology (WEBCT/blackboard) in the delivery of educational material and communication with students at universities in Egypt is the focus of this study. The analysis draws on existing research in a B2C context which highlights the importance of internal organization characteristics, perceived attributes of the innovation as well as consumer based factors as the main drivers of adoption. A distinctive B2C model is developed drawing on Roger’s innovation adoption model, as well as theoretical and empirical foundations in previous innovation adoption literature to study the adoption of technological innovations in higher education in Egypt. The model proposes that the adoption decision is dependent on a combination of perceived attributes of the innovation, inter-organization factors and consumer factors. The model is testified drawing on the results of empirical work in the form of a large survey conducted on students in three different universities in Egypt (one public, one private and one international). In addition to the attributes of the innovation, specific organization factors (such as university resources) as well as consumer factors were identified as likely to have an important influence on the adoption of technological innovations in higher education.

Keywords: innovation, WEBCT, higher education, adoption, Egypt

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Authors: Dorra Gherib

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This article explores in depth the technological innovations by the Top Managements of banks in the Tunisian banking sector. The framework of this research is based on an amalgamation of four theories related to the decision of adopting technological innovations: The Theory of Reasoned Action (TRA), the Theory of Planned Behaviour (TPB), Technology Acceptance Model (TAM), and Diffusion of Innovation (DI). The result of our qualitative study highlights four variables which influence the attitude of the Top Managements towards the adoption of internet banking: Relative advantage, Perceived Ease of Use, compatibility and Perceived risk.

Keywords: top management, attitude, internet banking, TRA, TAM, TPB, DI

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Authors: Eugene Mashapa

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The age of information has witnessed countless unprecedented technological developments, which signal the articulation of succinct technological capabilities that can match these cutting-edge technological trends. These changes have impacted patterns in the production, distribution, and consumption of media content, a space that the Film and Publication Board (FPB) is concerned with. Consequently, the FPB is keen to understand the nature and impact of these technological changes on media content regulation. This exploratory study sought to investigate how content regulators in high and middle-income economies have adapted to the changes in this space, seeking insights into innovations, technological and operational, that facilitate continued relevance during this fast-changing environment. The study is aimed at developing recommendations that could assist and inform the organisation in regulating media content as it evolves. Thus, the overall research strategy in this analysis is applied research, and the analytical model adopted is a mixed research design guided by both qualitative and quantitative research instruments. It was revealed in the study that the FPB was significantly impacted by the unprecedented technological advancements in the media regulation space. Additionally, there exists a need for the FPB to understand the current and future penetrations of 4IR technology in the industry and its impact on media governance and policy implementation. This will range from reskilling officials to align with the technological skills to developing technological innovations as well as adopting co-regulatory or self-regulatory arrangements together with content distributors, where more content is distributed in higher volumes and with increased frequency. Importantly, initiating an interactive learning process for both FPB employees and the general public can assist the regulator and improve FPB’s operational efficiency and effectiveness.

Keywords: media, regulation, technology, film and publications board

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Authors: Florian Wohlfeil, Orestis Terzidis, Louisa Hellmann

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Radical technological innovations enable companies to reach strong market positions and are thus desirable. On the other hand, the innovation process is related to significant costs and risks. Hence, the knowledge of the factors that influence success is crucial for technology driven companies. In a previous study, we have developed a conceptual framework of 25 Critical Success Factors for radical technological innovations and mapped them to four main categories: Technology, Organization, Market, and Process. We refer to it as the Technology-Organization-Market-Process (TOMP) framework. Taking the TOMP framework as a reference model, we conducted a structured and focused literature review of eleven standard books on the topic of radical technological innovation. With this approach, we aim to evaluate, expand, and clarify the set of Critical Success Factors detailed in the TOMP framework. Overall, the set of factors and their allocation to the main categories of the TOMP framework could be confirmed. However, the factor organizational home is not emphasized and discussed in most of the reviewed literature. On the other hand, an additional factor that has not been part of the TOMP framework is described to be important – strategy fit. Furthermore, the factors strategic alliances and platform strategy appear in the literature but in a different context compared to the reference model.

Keywords: Critical Success Factors, radical technological innovation, TOMP framework, innovation process

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Authors: Radostina Popova

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The analysis of the competitiveness of the innovation of furniture enterprises in Bulgaria requires distinguishing types of innovation and innovation activities to determine the results. Main object of the analysis are the results of innovative activities with a high degree of novelty that determine competitiveness and high innovation. It is focused on innovative research in the EU in the last three-year period and its level is directly related to the forms of protection of industrial property, which enterprises use. The results are from studies of innovation of furniture enterprises in Bulgaria during the period - 2006-2012 on a sample of more than 600 furniture companies. The results from studies are focused on product and process (technological) innovations with a high degree of novelty.

Keywords: innovations, competitiveness, furniture enterprises, Bulgaria

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Authors: Alie Wube Dametew, Frank Ebinger

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This study investigated the roles of technological innovation on basic metal industries and then developed technological innovation framework for enhancing sustainable competitive advantage in the basic metal industries. The previous research work indicates that technological innovation has critical impact in promoting local industries to improve their performance and achieve sustainable competitive environments. The filed observation, questioner and expert interview result from basic metal industries indicate that the technological capability of local industries to invention, adoption, modification, improving and use a given innovative technology is very poor. As the result, this poor technological innovation was occurred due to improper innovation and technology transfer framework, non-collaborative operating environment between foreign and local industries, very weak national technology policies, problems research and innovation centers, the common miss points on basic metal industry innovation systems were investigated in this study. One of the conclusions of the article is that, through using the developed technological innovation framework in this study, basic metal industries improve innovation process and support an innovative culture for sector capabilities and achieve sustainable competitive advantage.

Keywords: technological innovation, competitive advantage, sustainable, basic metal industry, conceptual model, sustainability, supply chain integration

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Authors: Gökhan Karhan, Yavuz Elitok

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Nowadays, inequality between developing and underdeveloped countries has a rapid increment. Developed countries impress the underdeveloped countries to become dependent through them. For that reason, Turkey has to increase its capability of making technological innovations. It has tried to be identified by examining the expenses of R&D in public, mercantile establishments and universities in Turkey that which expense is not enough and which expense should be doubled. As a result, developing new resolution strategies will be easier.

Keywords: competitive strength, research and development, technological innovation, Turkey

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Authors: Ana-Marija Stjepić, Luka Sušac, Dalia Suša Vugec

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In the last few years, examples from scientific literature and business practices show that the adoption of technological innovations increases enterprises' performance. Recently, when it comes to the field of information technology innovation, business intelligence systems (BISs) have drawn a significant amount of attention of the scientific circles. BISs can be understood as a form of technological innovation which can bring certain benefits to the organizations that are adopting it. Therefore, the aim of this paper is twofold: (1) to define determinants of successful BISs adoption in small and medium enterprises and thus contribute to this neglected research area and (2) to present the current state of BISs adoption in small and medium-sized companies. In order to do so, determinants are defined and classified into three dimensions, according to the Technology – Organization – Environment (TOE) theoretical framework that describes the impact of each dimension on technological innovations adoption. Moreover, paper brings a case study presenting the adoption of BISs in practice within an organization from tertiary (service) industry sector. Based on the results of the study, guidelines for more efficient, faster and easier BISs adoption are presented.

Keywords: adoption, business intelligence, business intelligence systems, case study, TOE framework

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Authors: Natasha Hazarika, Xiaoling Zhang

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Eco- innovations, unlike regular innovations, are not self-enforcing and are associated with the double externality problem. Therefore, it is emphasized that eco-innovations need government. intervention in the form of supportive policies on priority. Off late, factors like consumer demand, technological advancement as well as the competitiveness of the firms have been considered as equally important. However, the interaction among these driving forces has not been fully traced out. Also, the theory on eco-innovation is found to be at a nascent stage which does not resonate with its dynamics as it is traditionally studied under the neo- classical economics theory. Therefore, to begin with, insights for this research have been derived from the merits of ‘neo- classical economics’, ‘evolutionary approach’, and the ‘resource based view’ which revealed the issues pertaining to technological system lock- ins and firm- based capacities which usually remained undefined by the neo classical approach; it would be followed by determining how the policies (in the national level) and their instruments are designed in order to motivate firms to eco-innovate, by analyzing the innovation ‘friendliness’ of the policy style and the policy instruments as per the indicators provided in innovation literature by means of document review (content analysis) of the relevant policies introduced by the Chinese government. The significance of theoretical analysis lies in its ability to show why certain practices become dominant irrespective of gains or losses, and that of the policy analysis lies in its ability to demonstrate the credibility of govt.’s sticks, carrots and sermons for eco-innovation.

Keywords: firm competency, eco-innovation, policy, theory

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Authors: Isabel L. Guidote

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Continued advancements and innovation in the technological arena may yield both beneficial and detrimental effects to market competition in the Philippines. This paper discusses recent developments in the digital sphere which have resulted in improved access to the Philippine market for both producers and consumers. Acknowledging that these developments are likely to disrupt or alter prevailing market conditions, this paper likewise tackles competition theories of harm that may arise as a result of such technological innovations, with reference to cases decided by foreign competition authorities and the European Commission. As the Philippine moves closer to the digital frontier, it is imperative that producers, consumers, and regulators alike be well-equipped to address the risks and challenges posed by these rapid advancements in technology.

Keywords: antitrust, competition law, market competition, technology

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Authors: J. Vasauskaite

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From the perspective of Lithuanian furniture enterprises, the role of energy efficiency is significant as it leads to direct economic benefits, increased competitiveness and higher productivity. There are various possible improvements in energy efficiency in industry: changes in the production process, investment in R&D, implementation of energy-saving technologies or energy management systems. The research aims to contribute the understanding of energy efficiency importance in industry by presenting possible improvements of energy use in different manufacturing process of enterprises. The evaluation methodology included quantitative and qualitative research methods: the comparative and statistical analysis of primary and secondary sources of information. This paper provides the detailed analysis of the energy efficiency development opportunities and challenges in Lithuanian furniture industry. The results of the study show the importance of technological innovations, energy efficiency policies and environmental management strategies in developing energy efficiency within the wood and furniture industry. The analysis of energy efficiency development in Lithuanian furniture industry showed that the industrial activities are influenced by various internal and external factors such as increasing flows of products, human resources and overall management decisions; dynamic growth and increasing competition; emerging need for environmental information. In the light of these factors, Lithuanian furniture industry has undergone significant changes – restructuring, technological advances and business model innovations, allowing it to be more export-oriented and focus on upgrading quality, design and innovation.

Keywords: energy efficiency, energy policy, furniture industry, technological innovation

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Authors: Fati̇h Apaydin

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Education technology is an area which constantly changes and creates innovations. As an inevitable part of the changing circumstances, the societies who have a tendency to the improvements keep up with these innovations by using the methods and strategies which have been designed for education technology. At this point, education technology has taken the responsibility to help the individuals improve themselves and teach the effective teaching methods by filling the airs in theoretical information, information security and the practice. The technology which comes to the core of our lives by raising the importance of it day by day and it enforced its position in computer- based environments. As a result, ‘being ready for technological innovations, improvement on computer-based talent, information, ability and attitude’ doctrines have to be given. However, it is today quite hard to deal with the security and reinforcement of this information. The information which is got illegally gives harm to society from every aspect, especially education. This study includes how and to what extent to use these innovative appliances such as computers and the factor of information security of these appliances in computer-based education. As the use of computer is constantly becoming prevalent in our country, both education and computer will never become out of date, so how computer-based education affects our lives and the study of information security for this type of education are important topics.

Keywords: computer, information security, education, technology, development

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Authors: Chyi Jaw

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Prior literature on innovation diffusion or acceptance has almost exclusively concentrated on consumers’ positive attitudes and behaviors for new products/services. Consumers’ negative attitudes or behaviors to innovations have received relatively little marketing attention, but it happens frequently in practice. This study discusses consumer psychological factors when they try to learn or use new technologies. According to recent research, technological innovation acceptance has been considered as a dynamic or mediated process. This research argues that consumers can experience inertia and emotions in the initial use of new technologies. However, given such consumer psychology, the argument can be made as to whether the inclusion of consumer inertia (routine seeking and cognitive rigidity) and emotions increases the predictive power of new technology acceptance model. As data from the empirical study find, the process is potentially consumer emotion changing (independent of performance benefits) because of technology complexity and consumer inertia, and impact innovative technology use significantly. Finally, the study presents the superior predictability of the hypothesized model, which let managers can better predict and influence the successful diffusion of complex technological innovations.

Keywords: cognitive rigidity, consumer emotions, new technology acceptance, routine seeking, technology complexity

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Authors: Sareh Enjavi

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In recent years, the field of visual communication design has seen a significant shift in the way that art is created and consumed, with the advent of new technologies like virtual reality, augmented reality, and artificial intelligence. This paper explores the ways in which technology is changing the landscape of visual communication design, and how designers are incorporating new technological tools into their artistic practices. The primary objective of this research paper is to investigate the ways in which technology is influencing the creative process of designers and artists in the field of visual communication design. The paper also aims to examine the challenges and limitations that arise from the intersection of art and technology in visual communication design, and to identify strategies for overcoming these challenges. Drawing on examples from a range of fields, including advertising, fine art, and digital media, this paper highlights the exciting innovations that are emerging as artists and designers use technology to push the boundaries of traditional artistic expression. The paper argues that embracing technological innovation is essential for the continued evolution of visual communication design. By exploring the intersection of art and technology, designers can create new and exciting visual experiences that engage and inspire audiences in new ways. The research also contributes to the theoretical and methodological understanding of the intersection of art and technology, a topic that has gained significant attention in recent years. Ultimately, this paper emphasizes the importance of embracing innovation and experimentation in the field of visual communication design, and highlights the exciting innovations that are emerging as a result of the intersection of art and technology, and emphasizes the importance of embracing innovation and experimentation in the field of visual communication design.

Keywords: visual communication design, art and technology, virtual reality, interactive art, creative process

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Authors: Shivendra Pratap Singh, Rishabh Sharma

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The widespread adoption of mobile technology in recent years has revolutionized the way we communicate and access information. The evolution of mobile systems has been rapid and impactful, shaping our lives and changing the way we live and work. However, despite its significant influence, the history and development of mobile technology are not well understood by the general public. This research paper aims to examine the history, technology and future of mobile systems, exploring their evolution from early mobile phones to the latest smartphones and beyond. The study will analyze the technological advancements and innovations that have shaped the mobile industry, from the introduction of mobile internet and multimedia capabilities to the integration of artificial intelligence and 5G networks. Additionally, the paper will also address the challenges and opportunities facing the future of mobile technology, such as privacy concerns, battery life, and the increasing demand for high-speed internet. Finally, the paper will also provide insights into potential future developments and innovations in the mobile sector, such as foldable phones, wearable technology, and the Internet of Things (IoT). The purpose of this research paper is to provide a comprehensive overview of the history, technology, and future of mobile systems, shedding light on their impact on society and the challenges and opportunities that lie ahead.

Keywords: mobile technology, artificial intelligence, networking, iot, technological advancements, smartphones

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Authors: Valery Yakubovich, Shuping wu

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Organization theorists have long claimed that organizational innovations are nontechnological, in part because they are unpatentable. The claim rests on the assumption that organizational innovations are abstract ideas embodied in persons and contexts rather than in context-free practical tools. However, over the last three decades, organizational knowledge has been increasingly embodied in digital tools which, in principle, can be patented. To provide the first empirical evidence regarding the patentability of organizational innovations, we trained two machine learning algorithms to identify a population of 205,434 patent applications for organizational technologies (OrgTech) and, among them, 141,285 applications that use organizational innovations accumulated over the 20th century. Our event history analysis of the probability of patenting an OrgTech invention shows that ideas from organizational innovations decrease the probability of patent allowance unless they describe a practical tool. We conclude that the present-day digital transformation places organizational innovations in the realm of high tech and turns the debate about organizational technologies into the challenge of designing practical organizational tools that embody big ideas about organizing. We outline an agenda for patent-based research on OrgTech as an emerging phenomenon.

Keywords: organizational innovation, organizational technology, high tech, patents, machine learning

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Authors: Jegede Oluseye Oladayo

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The study mapped innovation activities in the formal and informal mining sector in Nigeria. Data were collected through primary and secondary sources. Primary data were collected through guided questionnaire administration, guided interviews and personal observation. A purposive sampling method was adopted to select firms that are micro, small and medium enterprises. The study covered 100 (50 in the formal sector and 50 in the informal sector) purposively selected companies in south-western Nigeria. Secondary data were collected from different published sources. Data were analysed using descriptive and inferential statistics. Of the four types of technological innovations sampled, organisational innovation was found to be highest both in the formal (100%) and informal (100%) sectors, followed by process innovation: 60% in the formal sector and 28% in the informal sector, marketing innovation and diffusion based innovation were implemented by 64% and 4% respectively in the formal sector. There were no R&D activities (intramural or extramural) in both sectors, however, innovation activities occur at moderate levels in the formal sector. This is characterised by acquisition of machinery, equipment, hardware (100%), software (56), training (82%) and acquisition of external knowledge (60%) in the formal sector. In the informal sector, innovation activities were characterised by acquisition of external knowledge (100%), training/learning by experience (100%) and acquisition of tools (68%). The impact of innovation on firm’s performance in the formal sector was expressed mainly as increased capacity of production (100%), reduced production cost per unit of labour (88%), compliance with governmental regulatory requirements (72%) and entry on new markets (60%). In the informal sector, the impact of innovation was mainly expressed in improved flexibility of production (70%) and machinery/energy efficiency (70%). The important technological driver of process innovation in the mining sector was acquisition of machinery which accounts for the prevalence of 100% both in the formal and informal sectors. Next to this is training and re-training of technical staff, 74% in both the formal and the informal sector. Other factors influencing organisational innovation are skill of workforce with a prevalence of 80% in both the formal and informal sector. The important technological drivers include educational background of the manager/head of technical department (54%) for organisational innovation and (50%) for process innovation in the formal sector. The study concluded that innovation competence of the firms was mostly organisational changes.

Keywords: innovation prevalence, innovation activities, innovation performance, innovation drivers

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Authors: Chyi Jaw

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Many companies have suffered as a result of consumers’ rejection of complex new products and experienced huge losses in the market. Marketers have to understand what block from new technology adoption or positive product attitude may exist in the market. This research examines the effects of techno-complexity and anthropomorphism on consumer psychology and product attitude when new technologies are introduced to the market. This study conducted a pretest and a 2 x 2 between-subjects experiment. Four simulated experimental web pages were constructed to collect data. The empirical analysis tested the moderation-mediation relationships among techno-complexity, technology anxiety, ability, and product attitude. These empirical results indicate (1) Techno-complexity of an innovation is negatively related to consumers’ product attitude, as well as increases consumers’ technology anxiety and reduces their self-ability perception. (2) Consumers’ technology anxiety and ability perception towards an innovation completely mediate the relationship between techno-complexity and product attitude. (3) Product anthropomorphism is positively related to consumers’ attitude of new technology, and also significantly moderates the effect of techno-complexity in the hypothesized model. In this work, the study presents the moderation-mediation model and the effects of anthropomorphized strategy, which describes how managers can better predict and influence the diffusion of complex technological innovations.

Keywords: ability, anthropomorphic effect, innovation, techno-complexity, technology anxiety

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Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

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Authors: Mohammad Reza Fooladi

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Because of the importance and effect of plant innovations on economy, industry, and especially agriculture, they have been on the core attention of legislators at the national level, and have been a topic of international documents related to intellectual innovations in the recent decades. For protection of plant innovations, two legal systems (i.e. particular system based on International Convention for protection of new variety of plants, and the patent system) have been considered. Ease of access to the support and the level of support in each of these systems are different. Our attempt in this paper, in addition to describing and analyzing the characteristics of each system, is to suggest the compatible system to the industry and agriculture of Afghanistan. Due to the lack of sufficient industrial infrastructure and academic research, the particular system based on the International Convention on the protection of new variety of plants is suggested. At the same time, appropriate industrial and legal infrastructures, as well as laboratories and research centers should be provided in order that plant innovations under the patent system could also be supported.

Keywords: new varieties of plant, patent, agriculture, Afghanistan

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Authors: Abdelhalem Shahen

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The world is now experiencing a digital revolution and greatly accelerated technological developments, in addition to the transition from the economy in its traditional form to the digital economy, which has resulted in the emergence of new tools that are appropriate to those developments, and from this, this paper attempts to explore the economic characteristics of the bitcoin currency that circulated recently. Due to the many advantages that distinguish it from money in its traditional forms, which have a range of economic effects. The study found that Bitcoin is among the technological innovations, which contain a set of characteristics that are worth studying, those that make it the focus of attention, such as the digital currency, the peer-to-peer property, Lower and Faster Transaction Costs, transparency, decentralized control, privacy, and Double-Spending, as well as security and Cryptographic, and finally mining.

Keywords: Digital Economics, Digital Currencies, Bitcoin, Features of Bitcoin

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Authors: Zahid Ullah, Atlas Khan

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The rapid growth of data in various domains has created a pressing need for effective methods to transform this data into meaningful knowledge. In this era of big data, mathematical and statistical innovations play a crucial role in unlocking insights and facilitating informed decision-making in data analytics. This abstract aims to explore the transformative potential of these innovations and their impact on converting raw data into actionable knowledge. Drawing upon a comprehensive review of existing literature, this research investigates the cutting-edge mathematical and statistical techniques that enable the conversion of data into knowledge. By evaluating their underlying principles, strengths, and limitations, we aim to identify the most promising innovations in data analytics. To demonstrate the practical applications of these innovations, real-world datasets will be utilized through case studies or simulations. This empirical approach will showcase how mathematical and statistical innovations can extract patterns, trends, and insights from complex data, enabling evidence-based decision-making across diverse domains. Furthermore, a comparative analysis will be conducted to assess the performance, scalability, interpretability, and adaptability of different innovations. By benchmarking against established techniques, we aim to validate the effectiveness and superiority of the proposed mathematical and statistical innovations in data analytics. Ethical considerations surrounding data analytics, such as privacy, security, bias, and fairness, will be addressed throughout the research. Guidelines and best practices will be developed to ensure the responsible and ethical use of mathematical and statistical innovations in data analytics. The expected contributions of this research include advancements in mathematical and statistical sciences, improved data analysis techniques, enhanced decision-making processes, and practical implications for industries and policymakers. The outcomes will guide the adoption and implementation of mathematical and statistical innovations, empowering stakeholders to transform data into actionable knowledge and drive meaningful outcomes.

Keywords: data analytics, mathematical innovations, knowledge extraction, decision-making

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Authors: Tamar Lazariashvili

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Introduction: The growth and development of the economy in the country depend on many factors, the most important of which is the use of innovation. The article analyzes the innovations and the potential of agricultural development in Georgia, presents the problems in the field, justifies the need to introduce innovations, shows the policy of innovation development, evaluates the positive and negative factors of the use of innovations in agriculture. Methodology: The article uses general and specific research methods, namely, analysis, synthesis, induction, deduction, comparison and statistical ones: selection, grouping, observation, trend. All these methods used together in the article reveal the main problems and challenges and their development trends. Main Findings: The introduction of innovations for the country has an impact if there is established state support system for business development and the State creates an effective environment for innovation development. As a result, the appropriate establishment gives incentives to increase budget revenues, create new jobs, increase export turnover and improve the overall economic situation in the country. Georgia has sufficient resource potential to create and develop new businesses in agriculture by introducing innovations and contribute to the further socio-economic development of the country. Political and economic stability, the existing legislation in the country, infrastructure, the proper functioning of financial institutions and the qualification of the workforce are crucial for the development of innovations. These criteria determine the political and economic ratings of all countries of the world, which are of great importance to foreign investors in the implementation of innovations. Conclusion: Enactment of agro-insurance will increase the interest and confidence of financial institutions in the farming sector, financial resources will be accessible to the farmers that will facilitate the stable development of the sector in the country. The size of the agro-insurance market in the country should be increased and the new territories should be covered. The State must have an obligation to ensure the risk of farmers and subsidize insurance companies. Based on an analysis of the insurance market the conclusions on agro-insurance issues and the relevant recommendations are proposed. The introduction of innovations in agriculture will have a great impact on the Georgian economy: it will improve the technological base, establish enterprises equipped with modern equipment and methodologies, retrain existing enterprises, promote to improve skills of workers and improve management systems. Based on the analysis, conclusions are made about the prospects for the development of innovation in agriculture and relevant recommendations are proposed.

Keywords: agriculture, development potential, innovation, optimal environment

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Authors: Jasna Prester, Ivana Rašić Bakarić, Božidar Matijević

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Various prominent scholars and substantial practitioner-oriented literature on innovation orientation have shown positive effects on firm performance. There is a myriad of factors that influence and enhance innovation but it has been found in the literature that new product innovations accounted for an average of 14 percent of sales revenues for all firms. If there is one thing that has changed in innovation management during the last decade, it is the growing reliance on external partners. As a consequence, a new task for purchasing arises, as firms need to understand which suppliers actually do have high potential contributing to the innovativeness of the firm and which do not. Purchasing function in an organization is extremely important as it deals on an average of 50% or more of a firm's expenditures. In the nineties the purchasing department was largely seen as a transaction-oriented, clerical function but today purchasing integration provides a formal interface mechanism between purchasing and other firm functions that services other functions within the company. Purchasing function has to be organized differently to enable firm innovation potential. However, innovations are inherently risky. There are behavioral risk (that some partner will take advantage of the other party), technological risk in terms of complexity of products and processes of manufacturing and incoming materials and finally market risks, which in fact judge the value of the innovation. These risks are investigated in this work since it has been found in the literature that the higher the technological risk, higher will be the centralization of the purchasing function as an interface with other supply chain members. Most researches on organization of purchasing function were done by case study analysis of innovative firms. This work actually tends to prove or discard results found in the literature based on case study method. A large data set of 1493 companies, from 25 countries collected in the GMRG 4 survey served as a basis for analysis.

Keywords: purchasing function organization, innovation, technological risk, GMRG 4 survey

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Authors: Wisu Suntoyo, Dedy Sushandoyo

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Innovation and digital transformation are essential for firms’ competitiveness in the digital age. The competition in Indonesia’s banking industry provides an intriguing case study for understanding how digital transformation can generate innovation in established companies. The empirical evidence of this study is mainly based on interviews and annual reports examining four established banks in their various states of digital transformation. The findings of this study reveal that banks’ digital transformations that lead to innovations differ in terms of the activities undertaken and the outcomes achieved depending on the state of advancement in which they are. Digital transformation is a complex and challenging process, and this study finds that with this strategy, established banks have shown capable of generating innovation. Banks can choose types of transformation activities that generate radical, architectural, modular, or even incremental innovations.

Keywords: digital transformation, innovations, banking industry, established banks

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Authors: Kristof Lukas Heidemann

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In response to the present-day worldwide regression in the prevalence and vitality of contemporary democratic systems proponents of democracy have made several proposals to reverse this global trajectory through constitutional law reforms, creating the democratic innovations discourse. This critical review analyzes the different typologies that have been put forward to systematize the suggested democratic innovations and argues that the typologies all either omit some existing proposals or include overlapping types. Therefore, the review endorses possible adaptations regarding the more comprehensive typologies and gives recommendations for further research.

Keywords: citizen participation, constitutional law, deliberative democracy, democracy, democratic innovations, law and legislation, law reform, literature review

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Authors: Baghdasaryan Marinka

Abstract:

Monitoring the distribution of electric power consumption in the technological process of ore grinding is conducted. As a result, the impacts of the mill filling rate, the productivity of the ore supply, the volumetric density of the grinding balls, the specific density of the ground ore, and the relative speed of the mill rotation on the specific consumption of electric power have been studied. The power and technological factors affecting the reactive power generated by the synchronous motors, operating within the technological scheme are studied. A block diagram for evaluating the power consumption modes of the technological process is presented, which includes the analysis of the technological scheme, the determination of the place and volumetric density of the ore-grinding mill, the evaluation of the technological and power factors affecting the energy saving process, as well as the assessment of the electric power standards.

Keywords: electric power standard, factor, ore grinding, power consumption, reactive power, technological

Procedia PDF Downloads 555

Authors: Selin Tosun

Abstract:

The improvements in technology have started to transform the way we live, work, play, and commute in our cities. The emerging smart city understanding has been paving the way for more efficient, more useful, and more profitable cities. Smart sensors, smart lighting, smart waste, water and electricity management, smart transportation and communication systems are introduced to cities at a rapid pace. In today's world, innovation is often correlated with start-up companies and technological pioneers seeking broader economic objectives such as production and competitiveness. The government's position is primarily that of an enabler, with creativity mostly coming from the private sector. The paper argues that to achieve sustainable development, the ways in which smart and sustainable city approaches are being applied to cities need to be redefined. The research aims to address common discussions in the discourse of smart and sustainable cities criticizing the priority of lifestyle sterilization over human-centered sustainable interventions and social innovation strategies. The dichotomy between the fact that smart cities are mostly motivated by the competitive global market and the fact that the delocalization is, in fact, their biggest problem in the way of becoming authentic, sustainable cities is the main challenge that we face today. In other words, the key actors in smart cities have different and somewhat conflicting interests and demands. By reviewing the roles of the public and private actors in smart city making, the paper aspires to reconceptualize the understanding of “smartness” in achieving sustainable development in which the “smartness” is understood as a multi-layered complex phenomenon that can be channeled through different dynamics. The case cities around the world are explored and compared in terms of their technological innovations, governance and policy innovations, public-private stakeholder relationships, and the understanding of the public realm. The study aims to understand the current trends and general dynamics in the field, key issues that are being addressed, the scale that is preferred to reflect upon and the projects that are designed for the particular issues.

Keywords: smart city, sustainable development, technological innovation, social innovation

Procedia PDF Downloads 196

Authors: Geoff Skinner, Ilung Pranata

Abstract:

The advancement of ICT innovations provides us with a comfortable and convenient modern lifestyle. However, this modern easy lifestyle is proving to have some serious health consequences. Such technological advancements that have dramatically increased ones time in front of screens have been a contributing factor to increasing rates of obesity. In particular the youth obesity issue has gained more and more attention from researchers and health institutions around the world. Although technology innovations may lead to a sedate modern life, they also have a potential to solve the obesity issue in children. This paper provides a review of the issues in child obesity and the potential of active video games to mitigate these issues. Additionally, the paper also discusses the key requirements to develop an active video game that hopes to help combat child obesity through motivating youth to exergame. A framework is introduced to meet the requirements, from which a prototype was implemented. Discussion of the simulation and testing that were performed to verify the attainment of objectives is also detailed.

Keywords: e-video games, exergaming, health informatics, human computer interaction

Procedia PDF Downloads 444