Search results for: oil company’s revenue

Authors: Ni Made Dian Swandewi, Wustari L. Mangundjaya

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Employees’ commitment to change are required for the success of organizational change in the company. The objective of this study is to identify the correlation between psychological hardiness and psychological resilience on commitment to change. The respondents of current research are permanent employees and employees that have worked for at least two years in a company that has been experiencing organizational change. Data was collected using Commitment to Change Inventory, Dispositional Resilience Scale (DRS), and Modified CD-RISC. The data were analyzed using regression. The results of the research show that both Psychological Hardiness and Psychological Resilience have positive and significant correlation and contribution on Commitment to Change. This research is important for companies who undergo organizational change in order plan and implement change more effectively.

Keywords: commitment to change, organizational change, psychological hardiness, psychological resilience

Procedia PDF Downloads 294

Authors: M. E. Khiav, D. J. Borah, H. T. S. Santos, V. T. Faria

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For automobile companies, it has become very important to ensure sound quality in manufacturing and assembling in order to prevent occurrence of defects and to reduce the amount of parts replacements to be done in the service centers during the warranty period. Statistical Process Control (SPC) is widely used as the tool to analyze the quality of such processes and plays a significant role in the improvement of the processes by identifying the patterns and the location of the defects. In this paper, a case study has been conducted on an Iranian automobile company. This paper performs a quality analysis of a particular component called “Internal Bearing for the Back Wheel” of a particular car model, manufactured by the company, based on the 10 million data received from its service centers located all over the country. By creating control charts including X bar–S charts and EWMA charts, it has been observed after the year 2009, the specific component underwent frequent failures and there has been a sharp dip in the average distance covered by the cars till the specific component requires replacement/maintenance. Correlation analysis was performed to find out the reasons that might have affected the quality of the specific component in all the cars produced by the company after the year 2009. Apart from manufacturing issues, some political and environmental factors have been identified to have a potential impact on the quality of the component. A maiden attempt has been made to analyze the quality issues within an Iranian automobile manufacturer; such issues often get neglected in developing countries. The paper also discusses the possibility of political scenario of Iran and the country’s environmental conditions affecting the quality of the end products, which not only strengthens the extant literature but also provides a new direction for future research.

Keywords: capability analysis, car manufacturing, statistical process control, quality control, quality tools

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Authors: Maya Safira Dewi

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Indonesia is one in the top ten countries most funds flowing into Tax Haven. Illegal funds flowing out of Indonesia reached USD 10.9 billion per year. While the total to 2010 of the Indonesian financial assets are in tax havens from Indonesia amounted to USD 331 billion (Kar and Freitas, 2012). Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are the highest countries that became the location of companies affiliated with the company listed in Indonesia Stock Exchange. The 469 companies listed on the stock exchange there are 128 companies (27.29%) with overseas entities, listed total overseas affiliated companies amounted to 417 firms in 2012 and 415 companies in 2011. The most of the branches or the parent company are located in Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island. Judging from the existing tax provisions in these countries, have corporate tax rates that is lower than Indonesia. Tax avoidance to tax haven countries can be made by using some Strategies. They are transfer pricing, shopping treaty, thin capitalization and the controlled foreign company. Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are tax haven countries which become a tax heaven for Indonesian tax payer. It can be concluded that tax havens are a serious problem for Indonesia, and the need for a more assertive policy establishment and more detail about tax havens.

Keywords: tax avoidance, tax haven, transfer pricing, tax rate, tax payer

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Authors: Redha Elhuni

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The purpose of this paper is to find out the impact of Quality Management System (QMS) ISO/IEC 17025:2005 certification audit on company’s Performance. Libyan petroleum Institute has been certified ISO/IEC 17025:2005 for 8 years. Therefore, it is necessary to study and analyze the impact of that certification on its performance. Survey study has been done by distributing a questionnaire by handing it personally to qualified staff in the 15 accredited laboratories in the institute. The response rate was 66.6%. The statistical operations with the results of analytical study have been done to achieve the goal and objectives of the research. Finally, ISO/IEC 17025:2005 certification audit is found to have a positive effect on the institute’s performance.

Keywords: auditing process, ISO/IEC 17025:2005, quality management system, Libyan petroleum institute

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Authors: Robert Gilliland

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In any organization, a potential issue can arise and become a problem when management deviates from the standard norms set in the system development process of an IT system and the policies that pertain to it. In these instances, cybersecurity is a big challenge that organizations have to face in safeguarding the data that they generate and use. When a new idea, task, or process begins, specific standards must be followed, along with the policies and procedures that ensure the safeguard of data in the information system within the company. A good IT Strategy and Policy should have individuals who are in charge of overseeing the design, development, implementation, and auditing of these policies. Auditors are people who check to make sure that the issue conforms with the plan that is in place. Management has the ability through the role of the manager to potentially abuse power is given and to direct specific ideas, events, projects, and outcomes that are contrary to the vision or goals of the company.

Keywords: strategic policy, policy management, new policy, strategic planning

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Authors: Mansur Lubabah Kwanbo

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Existing literatures have demonstrated the importance of executive duality (ED) and audit committee (AC) in the financial growth of companies. To some extent this points to corporate governance mechanism aiming at addressing makers and implementers of company policies to be centered on promoting only company objectives. However, furthering organizational objectives needs an adequate structure of control to realize that. Recent development in the various industries in Nigeria have indicated the internal control system (ICS)has not been able to adequately address most of the activities that results in ills of sustaining growth for these industries. It is from this premise the study has as one of its objective to determine the extent to which ICS significantly relates to ED and AC in listed Nigerian corporation. Data were sourced from 308 financial statements and accounts of the corporations that made the sample of the study. Logistic regression aided the test of the hypothesis formulated for the study. Findings revealed a significant relationship between the study variables. The study concludes that the internal control system (ICS) is effective despite the bifurcation of executive duality (ED) and the presence of the Audit Committee (AC) to the extent of preventing ills that encourage lack of sustainability of company’s growth. Sustaining legitimate policies that translate into huge earnings, and create value to stake holders should be pursued.

Keywords: audit committee (AC), executive duality (ED), internal control system (ICS), Nigeria

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Authors: Inalegwu Stephany Akipu

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A cultural festival is characterized by feasting and celebration, with a day or period that has been set aside solely for this reason. Often expressed by an organized series of acts and performances, it forms a very important part of man’s cultural heritage. Nigeria is a country with many ethnic groups and diverse languages. Each of these ethnic groups has a plethora of festivals that depict their culture which is exhibited in many forms ranging from dancing to feasting and celebration. Being a very important aspect of man’s life, it is pertinent to document and optimally harness it. However, there is a significant decline of these practices in some areas in Nigeria while some areas have registered a total loss of same. It is the aim of this paper therefore, to appraise the factors responsible for this and also, to project ways of resuscitating these festivals which by the way are viable tools for revenue generation through tourism. Not only do festivals serve as a source of revenue, they also aid in national integration which in turn further enhances sustainable development. The interest of this paper will focus on the Kuteb people of Taraba State and the Idoma people of Benue State. The methodologies applied include primary (oral interviews) and secondary (consultation of written records on the subject matter) sources of data. It finally concludes by comparing the approaches that are in use by the ethnic groups in Nigeria who have successfully preserved this aspect their culture and suggestions are made as to how to apply same approaches to these two communities that form the subject of this paper.

Keywords: festival, cultural heritage, Nigeria, national integration, sustainable development

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Authors: Sanusi Abubakar Sadiq

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Despite the significance of tourism as a key revenue earner and employment generator, it is still being disregarded in many areas. The prospects of existing resources could boost development in communities; region, etc. are less used. This study is carried out with the view of developing Pandi-Tekki in Tanglang in Billiri Local Government Area as a Tourism Destination. It was primarily aimed at identifying features of Pandi-Tekki that could be developed into tourism attraction and suggest ways of developing the prospective site into a tourism destination, as well as exploring its possible contribution to tourism sector in Gombe State. Literature was reviewed based on relevant published materials. Data was collected through the use of qualitative and quantitative methods which include personal observation and structured questionnaire. Data was analyzed using the statistical package for the social sciences (SPSS) software. Result based on the data collected shows that Pandi-Tekki has potentials that can be developed as an attraction. The result also shows that the local community perceives tourism as a good development that will open them up to the entire world and also generate revenue to stimulate their economy. Conclusions were drawn based on the findings with regard to the analysis carried out in this research. It was discovered that Pandi-Tekki can be developed as a tourism destination, and there will be a great success towards achieving the aim and objectives of the development. Therefore, recommendations were made on creating awareness on the need to develop Pandi-Tekki as a Tourism Destination and the need for government to provide tourism facilities at the destination since it is a public outfit.

Keywords: attraction, destination, developing, features

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Authors: Abilio Pires Zacarias

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Analyzing company boards of directors is a relevant and timely topic. As the representative of shareholders, the board is the most senior management body of this type of company. Therefore, ascertaining the best kind of candidates to nominate, namely the most appropriate characteristics for leading the board to achieve better levels of performance, is certainly of great interest. The companies selected for this study were the 1,000 largest non-financial companies and the 100 largest financial companies in Portugal according to the Instituto Nacional de Estatística for 2010. The information stemmed from a questionnaire addressed to the person in charge of daily company management and then processed through STATA 17 with the multivariate analysis of variables - MANOVA. The study may correspondingly report that the vast majority of boards in the sample operate a dual leadership structure. By in terms of its prevalence, unitary leadership represents only a minority. Agency theory and stewardship theory postulate different characteristics for the ideal chairman but neither receive confirmation from our results. On the other hand, our findings do validate the behavioral theory of firms (BToF), concluding that experience is associated with organizational performance. This study is also relevant due to its analysis of companies not listed on the financial markets not only because of their weighting in the economy but also because they remain only very poorly studied in this field and thus also correspondingly contributing to deepening the literature.

Keywords: agency theory, behavioral theory of the firm, board of directors, corporate governance, stewardship theory

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Authors: Lema Catherine Forje

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Innovation activates the system of an economy to a new level. Innovation follows a process. The first step in innovation is the idea-generation process. There is widespread appreciation that people go to great lengths, incur expenses: energy and materials to generate innovative ideas. People get inspired, create, and connect. The inspiration also enables the building of a culture of innovation. Data collection was done through a face-to-face interview with the producer of the first Cameroon beer that came out in the early 1960s, a rice producing company, a cement producing company, and 100 women following a type of dressing commonly worn by Cameroonian women (wrappa). There were a total number of one hundred and three interviewees. The implication of this study is for everybody. It sheds light on the factors that are likely to sustain an innovation. Conclusion emphasises continuous research to keep giving the innovation a face lift.

Keywords: entrepreneurship, ideas, innovation, sustainability

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Authors: Abdelkarim Ait Brik, Abdelaziz Khoukh, Mustapha Jammali, Hamid Chaikhy

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The energy audit is the essential initial step to ensure a good definition of energy control actions. The in-depth study of the various energy-consuming equipments makes it possible to determine the actions and investments with best cost for the company. The analysis focuses on the energy consumption of production equipment and utilities (lighting, heating, air conditioning, ventilation, transport). Successful implementation of this approach requires, however, to take into account a number of prerequisites. This paper proposes a number of useful recommendations concerning the energy audit in order to achieve better results, and a case study concerning the lighting audit of a Moroccan company by showing the gains that can be made through this audit.

Keywords: energy audit, energy diagnosis, consumption, electricity, energy efficiency, lighting audit

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Authors: Ana Belon Hercilla

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The study is developed in “Reactivos Jeans” company, in the city of Arequipa, whose main business is the laundry of garments at an industrial level. In 2012 the company initiated actions to provide a dry cleaning service of alpaca fiber garments, recognizing that this item is in a growth phase in Peru. Additionally this company took the initiative to use a new greenwashing technology which has not yet been developed in the country. To accomplish this, a redesign of both the process and the plant layout was required. For redesigning the plant, the methodology used was the Systemic Layout Planning, allowing this study divided into four stages. First stage is the information gathering and evaluation of the initial situation of the company, for which a description of the areas, facilities and initial equipment, distribution of the plant, the production process and flows of major operations was made. Second stage is the development of engineering techniques that allow the logging and analysis procedures, such as: Flow Diagram, Route Diagram, DOP (process flowchart), DAP (analysis diagram). Then the planning of the general distribution is carried out. At this stage, proximity factors of the areas are established, the Diagram Paths (TRA) is developed, and the Relational Diagram Activities (DRA). In order to obtain the General Grouping Diagram (DGC), further information is complemented by a time study and Guerchet method is used to calculate the space requirements for each area. Finally, the plant layout redesigning is presented and the implementation of the improvement is made, making it possible to obtain a model much more efficient than the initial design. The results indicate that the implementation of the new machinery, the adequacy of the plant facilities and equipment relocation resulted in a reduction of the production cycle time by 75.67%, routes were reduced by 68.88%, the number of activities during the process were reduced by 40%, waits and storage were removed 100%.

Keywords: redesign, time optimization, industrial laundry, greenwashing

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Authors: Prabukusumo Prakoso

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The topic research aims to analyze the influence of employer branding towards the voluntary turnover intention on employee by projecting the variable of organization commitment and employee satisfaction. To measure each components of employer branding, the author conducted an exploratory study to confirm the items in the questionnaire. There are 80 respondents that are mostly permanent employees at an IT company in Indonesia, including partner and clients to get external viewpoints of employer branding. The result of this research indicates that employer branding has an influence on the voluntary turnover. Furthermore, to maintain the organization commitment in the company, the management can develop employer branding strategy in order to increase employee’s organization commitment.

Keywords: employer branding, organization commitment, employee satisfaction, voluntary intention turnover

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Authors: Mehdi Dasineh, Yadollah Tariverdi, Marzieh H. Takhti

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This paper investigated the relationship between top management turnover with risk volatility, sale volatility and fluctuations in the company's cash depending on the unqualified audit report in Tehran Stock Exchange (TSE). In this study, we examined 104 firms over the period 2009-2014 which were selected from (TSE). There was 624 observed year-company data in this research. Hypotheses of this research have been evaluated by using regression tests for example F-statistical and Durbin-Watson. Based on our sample we found significant relationship between top management replacement and risk volatility, sale Volatility and cash volatility with tendency unqualified audit opinion.

Keywords: top management replacement, risk volatility, sale volatility, cash volatility, unqualified audit opinion

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Authors: Nadia Fatima Zahra Malki

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The aim of the study is to show the role of total Quality Management on firm performance, research relied on the views of a sample managers working in the Marinel pharmaceutical company. The research aims to achieve many objectives, including increasing awareness of the concepts of Total Quality Management on Firm Performance, especially in the manufacturing firm, providing a future vision of the possibility of success, and the actual application of the Principles of Total Quality Management in the manufacturing company. The research adopted a default model was built after a review and analysis of the literature review in the context of one hypothesis's main points at the origin of a group of sub-hypotheses. The research presented a set of conclusions, and the most important of these conclusions was that there is a relationship between the Principles of TQM and Firm Performance.

Keywords: total quality management, competitive advantage, companies, objectives

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Authors: Amira Mabrouk

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This paper deals with the acceptability of urban toll in Tunisia. The price-based regulation, i.e. urban toll, is the outcome of a political process hampered by three-fold objectives: effectiveness, equity and social acceptability. This produces both economic interest groups and functions that are of incongruent preferences. The plausibility of this speculation goes hand in hand with the fact that these economic interest groups are also taxpayers who undeniably perceive urban toll as an additional charge. This wariness is coupled with an inquiry about the conditions of usage, the redistribution of the collected tax revenue and the idea of the leviathan state completes the picture. In a nutshell, if researches related to road congestion proliferate, no de facto legitimacy can be pleaded. Nonetheless, the theory on urban tolls engenders economists’ questioning of ways to reduce negative external effects linked to it. Only then does the urban toll appear to bear an answer to these issues. Undeniably, the urban toll suggests inherent conflicts due to the apparent no-payment principal of a public asset as well as to the social perception of the new measure as a mere additional charge. However, when the main concern is effectiveness is its broad sense and the social well-being, the main factors that determine the acceptability of such a tariff measure along with the type of incentives should be the object of a thorough, in-depth analysis. Before adopting this economic role, one has to recognize the factors that intervene in the acceptability of a congestion toll which brought about a copious number of articles and reports that lacked mostly solid theoretical content. It is noticeable that nowadays uncertainties float over the exact nature of the acceptability process. Accepting a congestion tariff could differ from one era to another, from one region to another and from one population to another, etc. Notably, this article, within a convenient time frame, attempts at bringing into focus a link between the social acceptability of the urban congestion toll and the value of time through a survey method barely employed in Tunisia, that of stated preference method. How can the urban toll, as a tax, be defined, justified and made acceptable? How can an equitable and effective tariff of congestion toll be reached? How can the costs of this urban toll be covered? In what way can we make the redistribution of the urban toll revenue visible and economically equitable? How can the redistribution of the revenue of urban toll compensate the disadvantaged while introducing such a tariff measure? This paper will offer answers to these research questions and it follows the line of contribution of JULES DUPUIT in 1844.

Keywords: congestion charge, social perception, acceptability, stated preferences

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Authors: Winai Rungrittidetch

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This paper investigated the operational system, procedures, outcomes, and obstacles during the application of the Corporate Social Responsibility by the small enterprises and other involved groups in the anchor production business of the core firm, Jatura Charoen Chai Company Limited. The paper also aimed to discover ways to improve the stakeholders who participated in the CSR training and advisory programme. The paper utilized the qualitative methodology which included documentary review and semi- structured interview. The interviews were made with 8 respondents as the representative of different groups of the company’s stakeholder. The findings drew out the lessons learned from the participation of the selected small manufacturing enterprises in the CSR training and advisory programme. Some suggestions were also made, addressing the significance of the Philosophy of Sufficiency Economy.

Keywords: corporate, social, responsibility, enterprises

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Authors: Milena Serzante, Viktoriia Stankevich, Yousre Badir

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Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. The aim of the study is to analyze how the sustainable performance of the company impacts the economy and the business's economic performance. To achieve this goal, such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbor and COPRAS technique were implemented. The results revealed that there is no significant correlation between different indicators of sustainable development of the company and both GDP and Return on Equity. It indicates that the methodology of evaluating sustainability causes the difference in ranking companies based on sustainable performance.

Keywords: economic impact, sustainability evaluation, sustainable companies, economic indicators, sustainability, GDP, return on equity

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Authors: Ekaterina Tikhonova

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This research is aimed to evaluate the effectiveness of T&D (Training and Development) on the example of two T&D programs for the Executive TOP Management run in 2012, 2015-2016 in Komos Group. This study is commissioned to research the effectiveness of two similar corporate T&D programs (within one company) in two periods of time (2012, 2015-2016) through evaluating the programs’ effectiveness using the four-level Kirkpatrick’s model of evaluating T&D programs and calculating ROI as an instrument for T&D program measuring by Phillips’ formula. The research investigates the correlation of two figures: the ROI calculated and the rating percentage scale per the ROI implementation (Wagle’s scale). The study includes an assessment of feedback 360 (Kirkpatrick's model) and Phillips’ ROI Methodology that provides a step-by-step process for collecting data, summarizing and processing the collected information. The data is collected from the company accounting data, the HR budgets, MCFO and the company annual reports for the research periods. All analyzed data and reports are organized and presented in forms of tables, charts, and graphs. The paper also gives a brief description of some constrains of the research considered. After ROI calculation, the study reveals that ROI ranges between the average implementation (65% to 75%) by Wagle’s scale that can be considered as a positive outcome. The paper also gives some recommendations how to use ROI in practice and describes main benefits of ROI implementation.

Keywords: ROI, organizational performance, efficacy of T&D program, employee performance

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Authors: Charles Chikwendu Okpala, Christopher Chukwutoo Ihueze

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As a technique that reduces variation in a product by lessening the sensitivity of the design to sources of variation, rather than by controlling their sources, Taguchi Robust Design entails the designing of ideal goods, by developing a product that has minimal variance in its characteristics and also meets the desired exact performance. This paper examined the concept of the manufacturing approach and its application to brake pad product of an automotive parts manufacturing company. Although the firm claimed that only defects, excess inventory, and over-production were the few wastes that grossly affect their productivity and profitability, a careful study and analysis of their manufacturing processes with the application of Single Minute Exchange of Dies (SMED) tool showed that the waste of waiting is the fourth waste that bedevils the firm. The selection of the Taguchi L9 orthogonal array which is based on the four parameters and the three levels of variation for each parameter revealed that with a range of 2.17, that waiting is the major waste that the company must reduce in order to continue to be viable. Also, to enhance the company’s throughput and profitability, the wastes of over-production, excess inventory, and defects with ranges of 2.01, 1.46, and 0.82, ranking second, third, and fourth respectively must also be reduced to the barest minimum. After proposing -33.84 as the highest optimum Signal-to-Noise ratio to be maintained for the waste of waiting, the paper advocated for the adoption of all the tools and techniques of Lean Production System (LPS), and Continuous Improvement (CI), and concluded by recommending SMED in order to drastically reduce set up time which leads to unnecessary waiting.

Keywords: lean production system, single minute exchange of dies, signal to noise ratio, Taguchi robust design, waste

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Authors: Abidemi C. Adegboye, Nosakhare Ikponmwosa, Rogers A. Akinsokeji

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For many resource-rich developing countries, fiscal policy has become a key tool used for short-run fiscal management since it is considered as playing a critical role in injecting part of resource rents into the economies. However, given its instability, reliance on revenue from commodity exports renders fiscal management, budgetary planning and the efficient use of public resources difficult. In this study, the linkage between commodity prices and fiscal operations among a sample of commodity-exporting countries in sub-Saharan Africa (SSA) is investigated. The main question is whether commodity price fluctuations affects the effectiveness of fiscal policy as a macroeconomic stabilization tool in these countries. Fiscal management effectiveness is considered as the ability of fiscal policy to react countercyclically to output gaps in the economy. Fiscal policy is measured as the ratio of fiscal deficit to GDP and the ratio of government spending to GDP, output gap is measured as a Hodrick-Prescott filter of output growth for each country, while commodity prices are associated with each country based on its main export commodity. Given the dynamic nature of fiscal policy effects on the economy overtime, a dynamic framework is devised for the empirical analysis. The panel cointegration and error correction methodology is used to explain the relationships. In particular, the study employs the panel ECM technique to trace short-term effects of commodity prices on fiscal management and also uses the fully modified OLS (FMOLS) technique to determine the long run relationships. These procedures provide sufficient estimation of the dynamic effects of commodity prices on fiscal policy. Data used cover the period 1992 to 2016 for 11 SSA countries. The study finds that the elasticity of the fiscal policy measures with respect to the output gap is significant and positive, suggesting that fiscal policy is actually procyclical among the countries in the sample. This implies that fiscal management for these countries follows the trend of economic performance. Moreover, it is found that fiscal policy has not performed well in delivering macroeconomic stabilization for these countries. The difficulty in applying fiscal stabilization measures is attributable to the unstable revenue inflows due to the highly volatile nature of commodity prices in the international market. For commodity-exporting countries in SSA to improve fiscal management, therefore, fiscal planning should be largely decoupled from commodity revenues, domestic revenue bases must be improved, and longer period perspectives in fiscal policy management are the critical suggestions in this study.

Keywords: commodity prices, ECM, fiscal policy, fiscal procyclicality, fully modified OLS, sub-saharan africa

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Authors: Dwi Wijiastutik, Tarjo, Yuni Rimawati

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The purpose of this empirical study is to analyse how to the market reaction and the conservative degree changes on the adoption of International Financial Reporting Standart (IFRS) through Jakarta Islamic Index. The study also has given others additional analysis on the profitability, capital structure and size company toward IFRS adoption. The data collection methods used in this study reveals as secondary data and deep analysis to the company’s annual report and daily price stock at yahoo finance. We analyse 40 companies listed on Jakarta Islamic Index from 2010 to 2014. The result of the study concluded that IFRS has given a different on the depth analysis to the two of variance analysis: Moderated Regression Analysis and Wilcoxon Signed Rank to test developed hypotheses. Our result on the regression analysis shows that market response and conservatism principle is not significantly after IFRS Adoption in Jakarta Islamic Index. Furthermore, in addition, analysis on profitability, capital structure, and company size show that significantly after IFRS adoption. The findings of our study help investor by showing the impact of IFRS for making decided investment.

Keywords: IFRS, earnings response coefficient, conservatism principle

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Authors: Malki Nadia Fatima Zahra, Kellal Cheimaa, Brahimi Houria

Abstract:

Aim of the study is to show the role of total Quality Management on firm performance; the research relied on the views of sample managers working in the Marinel pharmaceutical company. The research aims to achieve many objectives, including increasing awareness of the concepts of Total Quality Management on Firm Performance, especially in the manufacturing firm, providing a future vision of the possibility of success, and the actual application of the Principles of Total Quality Management in the manufacturing company. The research adopted a default model was built after a review and analysis of the literature review in the context of one hypothesis main points at the origin of a group of sub-hypotheses. The research presented a set of conclusions, and the most important of these conclusions was there is a relationship between the Principles of TQM and Firm Performance.

Keywords: total quality management, TQM dimension, firm performance, strategies

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Authors: Levan Sabauri

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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Pardeep Gupta

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The purpose of this paper is to present a case study on TPM implementation methodology and to highlight the benefits achieved after TPM in an engineering industry XYZ Ltd. (name changed) situated in Mohali, Punjab. The improvements in key performance indicators (PQCDSM) after implementing the TPM proved that its implementation helped the company significantly to achieve higher productivity, customer satisfaction, morale, and profits. The manufacturing cost reduced by 30%, overall equipment efficiency increased from 63% in 2010 to 84% after three years and productivity improved by 67%. The Company has won the TPM Excellence Award, Category-A in 2013 and after that continued implementing second phase of TPM. The findings of the study govern that the strategic TPM implementation can significantly contribute for the realization of operational excellence in almost all types of industry.

Keywords: total productive maintenance, overall equipment efficiency, continuous improvement, manufacturing excellence, availability, TPM initiatives, productivity

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Authors: Burmansyah Muhammad, Supriyoto Supriyoto

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Crop yield, quality and food safety are three important components that all estate and food crops must put into consideration to lifting the economic value. These measurements should be evaluated because marketplace demand is simultaneously changing and farmers must adapt quickly to remain competitive. The increase in economic value could be done by producing high quality product that aligns with harvest collector preferences. The purpose of this study is to examine the causal effects of value added farming in agriculture economic aspects towards crop yield, quality and food security. This research is using descriptive survey research by employing data from small-scale cocoa farmers listed to off-taker company, located on Sulawesi area of Indonesia. The questionnaire was obtained from 650 cocoa farmers, selected randomly. Major findings of the study indicate that 78% of respondents agree that agriculture inputs have positive effect on crop yield, quality and food safety. The study recommended that cocoa stakeholders should ensure access to agriculture inputs in first priority and then followed by ensuring access to cocoa supply chain trader and micro-financing. Value Added Farming refers to lifting the economic value of a commodity through particular intervention. Regarding access to agriculture inputs, one of significant intervention is fertilization and plant nutrition management, both organic and inorganic fertilizer. Small-scale cocoa farmers can get access to fertilizer intervention through establishment of demo farm. Ordinary demo farm needs large area, selective requirements, lots of field resources and centralization impact. On the contrary, satellite demo farm is developing to wide-spread the impact of agriculture economic aspects and also the involvement in number of farmers. In Sulawesi Project, we develop leveling strata of small-scale demo farm with group of farmers and local cooperative. With this methodology, all of listed small-scale farmers can get access to agriculture input, micro-financing and how to deliver quality output. PT Pupuk Kaltim is member firm of holding company PT Pupuk Indonesia, private company belongs to the government of Indonesia. The company listed as Indonesia's largest producer of urea fertilizers, besides ammonia, Compound Fertilizer (NPK) and biological fertilizers. To achieve strategic objectives, the company has distinguished award such as SNI Platinum, SGS Award IFA Protect and Sustain Stewardship and Gold Rank of Environment Friendly Company. This achievement has become the strategic foundation for our company to energize value added farming in sustaining food security program. Moreover, to ensure cocoa sustainability farming the company has developed partnership with international companies and Non-Government Organization (NGO).

Keywords: fertilizer and plant nutrition management, good agriculture practices, agriculture economic aspects, value-added farming

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Authors: Meghan Biallas, Amanda Hoffman, Tamara Miller, Kimmy Schnibben, Janaina Siegler

Abstract:

This paper assesses Walmart’s supply chain resiliency amidst continuous supply chain disruptions. It aims to evaluate how Walmart can use supply chain resiliency theory to retain its status as a global supply chain leader. The Bloomberg terminal was used to organize Walmart’s 754 Tier-1 suppliers by the size of their relationship to Walmart. Additional data from IBISWorld and Statista was also used in the analysis. This research focused on the top ten Tier-1 suppliers, with the greatest percentage of their revenue attributed to Walmart. This paper also applied the firm’s information to the Supply Chain Resilience Assessment and Management (SCRAM) framework for supply chain resiliency to evaluate the firm’s capabilities, vulnerabilities, and gaps. A rubric was created to quantify Walmart’s risks using four pillars: flexibility, velocity, visibility, and collaboration. Information and examples were reported from Walmart’s 10k filing. For each example, a rating of 1 indicated “high” resiliency, 0 indicated “medium” resiliency, and -1 indicated “low” resiliency. Findings from this study include the following: (1) Walmart has maintained its leadership through its ability to remain resilient with regard to visibility, efficiency, capacity, and collaboration. (2) Walmart is experiencing increases in supply chain costs due to internal factors affecting the company and external factors affecting its suppliers. (3) There are a number of emerging supply chain risks with Walmart’s suppliers, which could cause issues for Walmart to remain a supply chain leader in the future. Using the SCRAM framework, this paper assesses how Walmart measures up to the Supply Chain Resiliency Theory, identifying areas of strength as well as areas where Walmart can improve in order to remain a global supply chain leader.

Keywords: supply chain resiliency, zone of balanced resilience, supply chain resilience assessment and management, supply chain theory.

Procedia PDF Downloads 90

Authors: Jo-Ann Müller

Abstract:

The integration-responsiveness (IR) framework presents four distinct internationalization strategies which differ depending on the extent of pressure the company faces for local responsiveness and global integration. This study applies the framework to standards by examining differences in the relative importance of three types of standards depending on the role the subsidiary plays within the corporate group. Hypotheses are tested empirically in a two-stage procedure. First, the subsidiaries are grouped performing cluster analysis. In the second step, the relationship between cluster affiliation and subsidiary strategy is tested using multinomial Probit estimation. While the level of local responsiveness of a firm relates to the relative importance of national and international formal standards, the degree of vertical integration is associated with the application of internal company.

Keywords: FDI, firm-level data, standards, subsidiary strategy

Procedia PDF Downloads 263

Authors: Fatemeh Jaferi, Moslem Parsa, Heshmatolah Shams Khorramabadi

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In this modern fluctuating world, organizations need to outsource some parts of their activities (project) to providers in order to show a quick response to their changing requirements. In fact, a number of companies and institutes have contractors do their projects and have some specific criteria in contractor selection. Therefore, a set of scientific tools is needed to select the best contractors to execute the project according to appropriate criteria. Multi-criteria decision making (MCDM) has been employed in the present study as a powerful tool in ranking and selecting the appropriate contractor. In this study, devolving second-source (civil) project to contractors in the National Gas Company of Lorestan Province (Iran) has been found and therefore, 5 civil companies have been evaluated. Evaluation criteria include executive experience, qualification of technical staff, good experience and company's rate, technical interview, affordability, equipment and machinery. Criteria's weights are found through experts' opinions along with AHP and contractors ranked through TOPSIS and AHP. The order of ranking contractors based on MCDM methods differs by changing the formula in the study. In the next phase, the number of criteria and their weights has been sensitivity analysed through using AHP. Adding each criterion changed contractors' ranking. Similarly, changing weights resulted in a change in ranking. Adopting the stated strategy resulted in the facts that not only is an appropriate scientific method available to select the most qualified contractors to execute gas project, but also a great attention is paid to picking needed criteria for selecting contractors. Consequently, executing such project is undertaken by most qualified contractors resulted in optimum use of limited resource, accelerating the implementation of project, increasing quality and finally boosting organizational efficiency.

Keywords: multi-criteria decision making, project, management, contractor selection, gas company

Procedia PDF Downloads 376

Authors: Bengi Demirci

Abstract:

Out-of-pocket payments have become one of the common models adopted by health care reforms all over the world, and they have serious implications for not only the financial set-up of the health care systems in question but also for the people involved in terms of their access to the health care services provided. On the one hand, out-of-pocket payments are used in raising resources for the finance of the health care system and in decreasing non-essential health care expenses by having a deterrent role on the patients. On the other hand, out-of-pocket payment model causes regressive distribution effect by putting more burdens on the lower income groups and making them refrain from using health care services. Being a relatively incipient country having adopted the out-of-pocket payment model within the context of its Health Transformation Program which has been ongoing since the early 2000s, Turkey provides a good case for re-evaluating the pros and cons of this model in order not to sacrifice equality in access to health care for raising revenue for health care finance and vice versa. Therefore this study aims at analyzing the impact of out-of-pocket payments on the health finance system itself and on the patients’ access to healthcare services in Turkey where out-of-pocket payment model has been in use for a while. In so doing, data showing the revenue obtained from out-of-pocket payments and their share in health care finance are analyzed. In addition to this, data showing the change in the amount of expenditure made by patients on health care services after the adoption of out-of-pocket payments and the change in the use of various health care services in the meanwhile are examined. It is important for the incipient countries like Turkey to be careful in striking the right balance between the objective of cost efficiency and that of equality in accessing health care services while adopting the out-of-pocket payment model.

Keywords: health care access, health care finance, health reform, out-of-pocket payments

Procedia PDF Downloads 352