Search results for: innovation decision process

Authors: Tris Kee

Abstract:

As the urban design discipline develops renewed interests in participatory design and collaborative place-making, it becomes critical to review the potential and limitations in current processes to ensure a sustainable method for future development.This paper explores how collaborative design can be a key to future sustainable urban development through two case studies from Asia.The process involves a multi-disciplinary collaboration and an innovative learning process by sharing ideas as well as careful consideration on social, economic and political circumstances among government and district stakeholders.This intrinsic proposition of innovative participatory planning implies interdisciplinary collaboration between professionals and local residents to integrate knowledge into new urban place-making thinking.Design innovation in contemporary society can manifest itself in the discourse sustainable urban development by bottom-up planning and community driven design. This paper examines the emerging design pedagogy which promotes interdisciplinary coalition of professionals and local stakeholders in community development as an innovative design rubric to create a sustainable urban approach.Through two case studies in Hong Kong, this paper reviews and critically evaluates the process of how the notion of sustainable development in contemporary urban planning theory is underpinned by the collaborative design practice.

Keywords: collaborative design, design innovation, sustainable development, urban development

Procedia PDF Downloads 358

Authors: Hossein Afzali

Abstract:

Increasingly, decision analytic models are used to inform decisions about whether or not to publicly fund new health technologies. It is well noted that the accuracy of model predictions is strongly influenced by the appropriateness of model structuring. However, there is relatively inadequate methodological guidance surrounding this issue in guidelines developed by national funding bodies such as the Australian Pharmaceutical Benefits Advisory Committee (PBAC) and The National Institute for Health and Care Excellence (NICE) in the UK. This presentation aims to discuss issues around model structuring within decision making with a focus on (1) the need for a transparent and evidence-based model structuring process to inform the most appropriate set of structural aspects as the base case analysis; (2) the need to characterise structural uncertainty (If there exist alternative plausible structural assumptions (or judgements), there is a need to appropriately characterise the related structural uncertainty). The presentation will provide an opportunity to share ideas and experiences on how the guidelines developed by national funding bodies address the above issues and identify areas for further improvements. First, a review and analysis of the literature and guidelines developed by PBAC and NICE will be provided. Then, it will be discussed how the issues around model structuring (including structural uncertainty) are not handled and justified in a systematic way within the decision-making process, its potential impact on the quality of public funding decisions, and how it should be presented in submissions to national funding bodies. This presentation represents a contribution to the good modelling practice within the decision-making process. Although the presentation focuses on the PBAC and NICE guidelines, the discussion can be applied more widely to many other national funding bodies that use economic evaluation to inform funding decisions but do not transparently address model structuring issues e.g. the Medical Services Advisory Committee (MSAC) in Australia or the Canadian Agency for Drugs and Technologies in Health.

Keywords: decision-making process, economic evaluation, good modelling practice, structural uncertainty

Procedia PDF Downloads 164

Authors: Wisu Suntoyo, Dedy Sushandoyo

Abstract:

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

Procedia PDF Downloads 66

Authors: Luis Javier Serrano Tamayo

Abstract:

This research on technology makes a first approach to the selection of an amphibious landing ship with strategic capabilities, through the implementation of a multi-criteria model using Analytical Hierarchical Process (AHP), in which a significant group of alternatives of latest technology has been considered. The variables were grouped at different levels to match design and performance characteristics, which affect the lifecycle as well as the acquisition, maintenance and operational costs. The model yielded an overall measure of effectiveness and an overall measure of cost of each kind of ship that was compared each other inside the model and showed in a Pareto chart. The modeling was developed using the Expert Choice software, based on AHP method.

Keywords: analytic hierarchy process, multi-criteria decision-making, Pareto analysis, Colombian Marine Corps, projection operations, expert choice, amphibious landing ship

Procedia PDF Downloads 524

Authors: Tomola Obamuyi

Abstract:

The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

Procedia PDF Downloads 92

Authors: Gulseren Mutlu, Gurupdesh Pandher

Abstract:

This paper studies the strategic interplay between innovation, incentives, expropriation threat and disputes arising from expropriation from an intra-organization perspective. We present a simple principal-agent model with hidden actions and hidden information in which two employees can choose how much (innovative) effort to exert, whether to expropriate the innovation of the other employee and whether to dispute if innovation is expropriated. The organization maximizes its expected payoff by choosing the optimal reward scheme for both employees as well as whether to encourage or discourage disputes. We analyze two mechanisms under which innovative ideas are not expropriated. First, we show that under a non-contestable mechanism (in which the organization discourages disputes among employees), the organization has to offer a “rent” to the potential expropriator. However, under a contestable mechanism (in which the organization encourages disputes), there is no need for such rent. If the cost of resolving the dispute is negligible, the organization’s expected payoff is higher under a contestable mechanism. Second, we develop a comparable team mechanism in which innovation takes place as a result of the joint efforts of employees and innovation payments are made based on the team outcome. We show that if the innovation value is low and employees have similar productivity, then the organization is better off under a contestable mechanism. On the other hand, if the innovation value is high, the organization is better off under a team mechanism. Our results have important practical implications for the design of innovation reward system for employees, hiring policy and governance for different companies.

Keywords: innovation, incentives, expropriation threat, dispute resolution

Procedia PDF Downloads 594

Authors: Lei Qin

Abstract:

As shared accommodation has become one of the most important market developments in the tourism industry, numerous contributions have emerged on travelers’ motivations to choose shared accommodation. A debated question, however, resides in the heterogeneity of travelers based on motivations. This paper aims to reconcile opposing perspectives by comparing motivation segmentation at two distinct phases of innovation adoption of this new hospitality option: (i) before the first travel – potential users showing interest (n=420) and (ii) after the first travel – users (n=420). Interestingly, we find that travelers (including pre-and-post adopters) have a stronger agreement in experiential motivations than practical motivations. However, the heterogeneity of motivations among travelers is significantly higher in users, increasing from two to six clusters, which means travelers cluster into more and distinct motivation groups after adoption. Rather than invalidating specific assumptions used in the literature in terms of motivation heterogeneity, this paper reconciles opposing findings by putting them along with one another in the process of innovation adoption. A subsequent tourists’ segmentation based on motivations were conducted according to their innovation adoption stages.

Keywords: motivation, pre-and-post adoption, shared accommodation, segmentation

Procedia PDF Downloads 116

Authors: Jhansi Rani Boda, G. Sunitha

Abstract:

Worldwide, the financial markets are influenced by several factors such as the changes in economic and political processes that occur in the country and the globe, information diffusion and approachability and so on. Yet, the foremost important factor is the investor’s reaction and perception. For an individual investor, decision-making process can be perceived as a continuous process that has significant impact of their psychology while making investment decisions. Behavioral finance relies on research of human and social recognition and emotional tolerance studies to identify and understand the investment decisions. This article aims to report the research of individual investor’s financial behavior in a historical perspective. This article uncovers the investor’s psychology in investment decision making focusing on the investor’s rationality with an explanation of psychological and emotional factors that affect investing. The results of the study are revealed by means of Graphical visualization.

Keywords: behavioral finance, psychology, investor’s behavior, psychological and emotional factors

Procedia PDF Downloads 266

Authors: Linda P. M. Pluymen, Mariska M. G. Leeflang, I. Stegeman, Henock G. Yebyo, Anne E. M. Brabers, Patrick M. Bossuyt, E. Dekker, Anke J. Woudstra, Mirjam P. Fransen

Abstract:

Weighing the benefits and harms of colorectal cancer screening can be difficult for individuals. An existing online decision aid was expanded with a benefit-harm analysis to help people make an informed decision about participating in colorectal cancer screening. In a randomized controlled trial, we investigated whether those in the intervention group who used the decision aid with benefit-harm analysis were more certain about their decision than those in the control group who used the decision aid without benefit-harm analysis. Participants were 623 (39% of those invited) men and women aged 45 until 75 years old. Analyses were performed in those 386 participants (62%) who reported to have completed the entire decision aid. No statistically significant differences were observed between intervention and control group in decisional conflict score (mean difference 2.4, 95% CI -0.9, 5.6), clarity of values (mean difference 1.0, 95% CI -4.4, 6.6), deliberation score (mean difference 0.5, 95% CI -0.6, 1.7), anxiety score (mean difference 0.0, 95% CI -0.3, 0.3) and risk perception score (mean difference 0.1, -0.1, 0.3). Adding a benefit-harm analysis to an online decision aid did not improve informed decision making about participating in colorectal cancer screening.

Keywords: benefit-harm analysis, decision aid, informed decision making, personalized decision making

Procedia PDF Downloads 145

Authors: Daniela Pellin, Wilson Engelmann

Abstract:

Brazil has sought to accelerate your development through technology and innovation as a response to the global influences, which has received in internal management practices. For this, it had edited the Brazilian Law of Innovation 13.243/2016. However observing the Law overestimated economic aspects the respective application will not consider the stakeholders and the technological risks because there is no legal treatment. The economic exploitation and the technological risks must be controlled by limits of democratic system to find better social development to contribute with the economics agents for making decision to conform with global directions. The research understands this is a problem to face given the social particularities of the country because there has been the literal import of the North American Triple Helix Theory consolidated in developed countries and the negative consequences when applied in developing countries. Because of this symptomatic scenario, it is necessary to create adjustment to conduct the management of the law besides social democratic interests to increase the country development. For this, therefore, the Government will have to adopt some conducts promoting side by side with universities, civil society and companies, informational transparency, catch of partnerships, create a Confort Letter document for preparation to ensure the operation, joint elaboration of a Manual of Good Practices, make accountability and data dissemination. Also the Universities must promote informational transparency, drawing up partnership contracts and generating revenue, development of information. In addition, the civil society must do data analysis about proposals received for discussing to give opinion related. At the end, companies have to give public and transparent information about investments and economic benefits, risks and innovation manufactured. The research intends as a general objective to demonstrate that the efficiency of the propeller deployment will be possible if the innovative decision-making process goes through the institutional logic. As specific objectives, the American influence must undergo some modifications to better suit the economic-legal incentives to potentiate the development of the social system. The hypothesis points to institutional model for application to the legal system can be elaborated based on emerging characteristics of the country, in such a way that technological risks can be foreseen and there will be global conformity with attention to the full development of society as proposed by the researchers.The method of approach will be the systemic-constructivist with bibliographical review, data collection and analysis with the construction of the institutional and democratic model for the management of the Law.

Keywords: development, governance of law, institutionalization, triple helix

Procedia PDF Downloads 122

Authors: Jarunee Wonglimpiyarat

Abstract:

This paper explores the innovation management strategy of Thailand in moving towards the Detroit of Asia. The study analyses Thailand’s automotive cluster based on Porter’s Diamond Model and national innovation system (NIS) framework. A qualitative methodology was carried out, using semi-structured interviews with the players in the Thai automotive industry. Thailand took a different NIS approach by pursuing an Original Equipment Manufacture (OEM) strategy to attract foreign investments in building its automotive cluster, a different path from other Asian countries that competed with Own Brand Manufacture (OBM) strategies. The findings provide useful lessons for other newly industrialized countries (NICs) in adopting the cluster policies to move up the technological ladders.

Keywords: innovation management strategy, national innovation system (NIS), Detroit of Asia, original equipment manufacturer (OEM)

Procedia PDF Downloads 322

Authors: Dmitry K. Shaytan, Georgy D. Laptev

Abstract:

In our research we aimed to test a managerial approach for the fuzzy front end (FFE) of innovation by creating controlled experiment/ business case in a breakthrough innovation development. The experiment was in the sport industry and covered all aspects of the customer discovery stage from ideation to prototyping followed by patent application. In the paper we describe and analyze mile stones, tasks, management challenges, decisions made to create the break through innovation, evaluate overall managerial efficiency that was at the considered FFE stage. We set managerial outcome of the FFE stage as a valid product concept in hand. In our paper we introduce hypothetical construct “Q-factor” that helps us in the experiment to distinguish quality of FFE outcomes. The experiment simulated for entrepreneur the FFE of innovation and put on his shoulders responsibility for the outcome of valid product concept. While developing managerial approach to reach the outcome there was a decision to look on product concept from the cognitive psychology and cognitive science point of view. This view helped us to develop the profile of a person whose projection (mental representation) of a new product could optimize for a manager or entrepreneur FFE activities. In the experiment this profile was tested to develop breakthrough innovation for swimmers. Following the managerial approach the product concept was created to help swimmers to feel/sense water. The working prototype was developed to estimate the product concept validity and value added effect for customers. Based on feedback from coachers and swimmers there were strong positive effect that gave high value for customers, and for the experiment – the valid product concept being developed by proposed managerial approach for the FFE. In conclusions there is a suggestion of managerial approach that was derived from experiment.

Keywords: concept development, concept testing, customer discovery, entrepreneurship, entrepreneurial management, idea generation, idea screening, startup management

Procedia PDF Downloads 419

Authors: Erdal Akyol, Mutlu Alkan

Abstract:

Multi criteria decision analysis (MDCA) covers both data and experience. It is very common to solve the problems with many parameters and uncertainties. GIS supported solutions improve and speed up the decision process. Weighted grading as a MDCA method is employed for solving the geotechnical problems. In this study, geotechnical parameters namely soil type; SPT (N) blow number, shear wave velocity (Vs) and depth of underground water level (DUWL) have been engaged in MDCA and GIS. In terms of geotechnical aspects, the settlement suitability of the municipal area was analyzed by the method. MDCA results were compatible with the geotechnical observations and experience. The method can be employed in geotechnical oriented microzoning studies if the criteria are well evaluated.

Keywords: GIS, spatial analysis, multi criteria decision analysis, geotechnics

Procedia PDF Downloads 434

Authors: Bahadir Aydin

Abstract:

It is difficult to access accurate knowledge because of mass data. This huge data make environment more and more caotic. Data are main piller of intelligence. The affiliation between intelligence and knowledge is quite significant to understand underlying truths. The data gathered from different sources can be modified, interpreted and classified by using intelligence cycle process. This process is applied in order to progress to wisdom as well as intelligence. Within this process the effect of tacit knowledge is crucial. Knowledge which is classified as explicit and tacit knowledge is the key element for any purpose. Tacit knowledge can be seen as "the tip of the iceberg”. This tacit knowledge accounts for much more than we guess in all intelligence cycle. If the concept of intelligence cycle is scrutinized, it can be seen that it contains risks, threats as well as success. The main purpose of all organizations is to be successful by eliminating risks and threats. Therefore, there is a need to connect or fuse existing information and the processes which can be used to develop it. Thanks to this process the decision-makers can be presented with a clear holistic understanding, as early as possible in the decision making process. Altering from the current traditional reactive approach to a proactive intelligence cycle approach would reduce extensive duplication of work in the organization. Applying new result-oriented cycle and tacit knowledge intelligence can be procured and utilized more effectively and timely.

Keywords: information, intelligence cycle, knowledge, tacit Knowledge

Procedia PDF Downloads 493

Authors: Hummaira Qudsia Yousaf, Sidra Munawar

Abstract:

The study aims to examine in which way entrepreneurial education and attitude affect the entrepreneur’s success with the help of an entrepreneurial mindset, professional growth, and innovation. The target population was the entrepreneurs of successful startups in Pakistan. Data was gathered through an e-questionnaire, and 230 responses were analyzed using the partial least square structural equation modeling (PLS-SEM). Resultantly, entrepreneurial education is an essential component for the development of an entrepreneurial mindset. Also, an entrepreneurial attitude is responsible for the entrepreneurial mindset, which enhances professional growth. Moreover, the study highlighted that innovation is as necessary as mindset and education are for entrepreneurs. Furthermore, the findings confirmed that professional growth brings innovation to the success of entrepreneurs. This study provides proof of how entrepreneurial education and attitude influence pupils’ success in making entrepreneurs. This study extends the scope of education by incorporating predictors, such as professional growth, innovation, and entrepreneurial success. The study is unique due to the usage of innovative techniques for professional growth that ultimately bring career success.

Keywords: entrepreneurial education, entrepreneurial attitude, entrepreneurial mindset, professional growth, entrepreneurial success, innovation

Procedia PDF Downloads 95

Authors: Abdallah A. Hlayel

Abstract:

Operations research science (OR) deals with good success in developing and applying scientific methods for problem solving and decision-making. However, by using OR techniques, we can enhance the use of computer decision support systems to achieve optimal management for institutions. OR applies comprehensive analysis including all factors that affect on it and builds mathematical modeling to solve business or organizational problems. In addition, it improves decision-making and uses available resources efficiently. The adoption of OR by universities would definitely contributes to the development and enhancement of the performance of OR techniques. This paper provides an understanding of the structures, approaches and models of OR in problem solving and decision-making.

Keywords: best candidates' method, decision making, decision support system, operations research

Procedia PDF Downloads 420

Authors: Ming Wen, Nasim Nezamoddini

Abstract:

Sophisticated numerical simulations like finite element analysis (FEA) involve a complicated process from model setup to post-processing tasks that require replication of time-consuming steps. Utilizing FEA automation program simplifies the complexity of the involved steps while minimizing human errors in analysis set up, calculations, and results processing. One of the main challenges in designing FEA automation programs is to identify user requirements and link them to possible design alternatives. This paper presents a decision-making framework to design a Python based FEA automation program for modal analysis, frequency response analysis, and random vibration fatigue (RVF) analysis procedures. Analytical hierarchy process (AHP) and technique for order preference by similarity to ideal solution (TOPSIS) are applied to evaluate design alternatives considering the feedback received from experts and program users.

Keywords: finite element analysis, FEA, random vibration fatigue, process automation, analytical hierarchy process, AHP, TOPSIS, multiple-criteria decision-making, MCDM

Procedia PDF Downloads 87

Authors: Maryam Shayan

Abstract:

Programming frameworks have been utilized as a part of chemical industry process safety operation and configuration to enhance its effectiveness. This paper gives a brief survey and investigation of the best in class and effects of programming frameworks in process security. A study was completed by talking staff accountable for procedure wellbeing practices in the Iranian chemical process industry and diving into writing of innovation for procedure security. This article investigates the useful and operational attributes of programming frameworks for security and endeavors to sort the product as indicated by its level of effect in the administration chain of importance. The study adds to better comprehension of the parts of Information Communication Technology in procedure security, the future patterns and conceivable gaps for innovative work.

Keywords: programming frameworks, chemical industry process, process security, administration chain, information communication technology

Procedia PDF Downloads 345

Authors: M. U. Arshid, M. A. Kamal

Abstract:

The engineering design process is the activities formulation, to help an engineer raising a plan with a specified goal and performance. The engineering design process is a multi-stage course of action including the conceptualization, research, feasibility studies, establishment of design parameters, preliminary and finally the detailed design. It is a progression from the abstract to the concrete; starting with probably abstract ideas about need, and thereafter elaborating detailed specifications of the object that would satisfy the needs, identified. Engineering design issues, problems, and solutions are discussed in this paper using qualitative approach from an information structure perspective. The objective is to identify the problems, to analyze them and propose solutions by integrating; innovation, practical experience, time and resource management, communications skills, isolating the problem in coordination with all stakeholders. Consequently, this would be beneficial for the engineering community to improve the Engineering design practices.

Keywords: engineering design, engineering design issues, innovation, public sector projects

Procedia PDF Downloads 316

Authors: Axel Thallemer, Martin Danzer, Dominik Diensthuber, Aleksandar Kostadinov, Bernhard Rogler

Abstract:

Nature has always inspired the creative mind, to a lesser or greater extent. Introduced around the 1950s, Biomimetics served as a systematic method to treat the natural world as a ‘pattern book’ for technical solutions with the aim to create innovative products. Unfortunately, this technique is prone to failure when performed as a mere reverse engineering of a natural system or appearance. Contrary to that, a solution which looks at the principles of a natural design, promises a better outcome. One such example is the here presented case study, which shows the design process of three distinctive grippers. The devices have biomimetic properties on two levels. Firstly, they use a kinematic chain found in beaks and secondly, they have a biomimetic structural geometry, which was realized using additive manufacturing. In a next step, the manufacturing method was evaluated to estimate its efficiency for commercial production. The results show that the fabrication procedure is still in its early stage and thus it is not able to guarantee satisfactory results. To summarize the study, we claim that a novel solution can be derived using principles from nature, however, for the solution to be actualized successfully, there are parameters which are beyond reach for designers. Nonetheless, industrial designers can contribute to product innovation using biomimetics.

Keywords: biomimetics, innovation, design process, additive manufacturing

Procedia PDF Downloads 176

Authors: Nor Azlina Ab.Rahman, Salwana Hassan, Zuraeda Ibrahim, Normah Omar, Jamaliah Said

Abstract:

Revolution in the business environment has crucial growing changes on most globalized markets. Numerous of organizations are necessitating towards producing more proactive entrepreneurs with a dynamic teams, who can run and steer their business to victory. Revolutionizing on business strategy and entrepreneurial skills, also implementing innovation and practices to enhance its performance is necessary for these organizations to be more cost-efficient and increase their efficiency. The study aims to clarify issues of whether measurement has a positive effect on different aspects of innovation and best practices. The study contributes to the current understanding in three ways; first by presenting the important aspects of organizational innovation and best practices. Second by showing the importance of measurement in promoting different aspects of innovation and best practices. Third is to examine the link between innovation, best practices and sustainability in microfinance. The study has been executed by conducting a qualitative study toward the microfinance industry. A representative of management and employees in each company was selected through an invitation to participate in getting information for data collection purpose in the study. The study contains a comprehensive description of the impacts of measurement on different aspects of innovation and best practices towards sustainability in both microfinance industries and SMEs. Findings from this study shows that performance measurement has positive effects on issues related to innovation and best practices. The measurement for several aspects of innovation and best practices is good potential in microfinance industries. Additionally, measurement on innovation and best practices shows a positively related with each other to enhance organization performance. The study suggests that both academics and practitioners should focus on the development of new methods and practices to describe and scrutinize further understanding for measuring issues which is related to innovation and best practices, in order to better develop innovation and best practices towards sustainability. This effort would not only contribute to firm’s success, but also toward the development of the nation in the developing countries.

Keywords: best practices, innovation, microfinance, sustainability

Procedia PDF Downloads 494

Authors: Nurunnaher Nurunnaher

Abstract:

This paper examines the impact of women’s participation in microcredit on women’s decision making in the slum areas of Dhaka city, Bangladesh. There is confusion in the literature about whether women’s empowerment is or is not a trickle down impact of poverty alleviation or household well-being, and the studies use more or less similar indicators to measure the status of household and the status of women. Studies very rarely conceptualize and operationalize the term ‘empowerment’ as the word is often used without proper care by policy makers and development practitioners instead of household wellbeing. Currently, decision making in many studies has been used as an indicator of women’s empowerment when assessing the impact of microcredit programs on women. Based on a qualitative and feminist study this paper operationalizes women’s empowerment through the development of a conceptual framework, the identification of assessment criteria and the development of proper indicators that guided the whole study. The testimonies of participants, both men and women, were the basis of exploration of women’s lived experiences, which is the most appropriate method to explore the impact of such programs on women’s empowerment. The study considers empowerment as a process that affects various levels of life and gender relationships. The study found that there is a positive change in women’s position in decision making when women have developed an independent economic base with credit money. However, predominantly, women’s decision making is shared with men with the final decision still in the men’s hands. It can be said that women’s microcredit participation has not significantly challenged the social norms, therefore it is not surprising that women who hand over credit to their husband rarely have any power in intra-household bargaining process. Nevertheless, overall it is evident that women are continuously struggling toward the freedom to have the authority over household, economic and personal matters. It is concluded that while making strategic choices or gaining empowerment requires several steps, women’s participation in decision-making has several implications on their lives and potentially challenges patriarchy.

Keywords: women, gender inequality/equality, decision making, empowerment, microcredit, slums, Dhaka, Bangladesh

Procedia PDF Downloads 413

Authors: Marcelo T. Okano, Jaqueline C. Bueno, Oduvaldo Vendrametto, Osmildo S. Santos, Marcelo E. Fernandes, Heide Landi

Abstract:

Developing countries are increasingly finding that entrepreneurship and innovation are the ways to speed up their developments and initiate or encourage technological development. The educational institutions such as universities, colleges and colleges of technology, has two main roles in this process, to guide and train entrepreneurs and provide technological knowledge and encourage innovation. Thus there was completing the triple helix model of innovation with universities, government and industry. But the teaching of entrepreneurship and innovation can not be only the traditional model, with blackboard, chalk and classroom. The new methods and methodologies such as Canvas, elevator pitching, design thinking, etc. require students to get involved and to experience the simulations of business, expressing their ideas and discussing them. The objective of this research project is to identify the main methods and methodologies used for the teaching of entrepreneurship and innovation, to propose a framework, test it and make a case study. To achieve the objective of this research, firstly was a survey of the literature on the entrepreneurship and innovation, business modeling, business planning, Canvas business model, design thinking and other subjects about the themes. Secondly, we developed the framework for teaching entrepreneurship and innovation based on bibliographic research. Thirdly, we tested the framework in a higher education class IT management for a semester. Finally, we detail the results in the case study in a course of IT management. As important results we improve the level of understanding and business administration students, allowing them to manage own affairs. Methods such as canvas and business plan helped students to plan and shape the ideas and business. Pitching for entrepreneurs and investors in the market brought a reality for students. The prototype allowed the company groups develop their projects. The proposed framework allows entrepreneurship education and innovation can leave the classroom, bring the reality of business roundtables to university relying on investors and real entrepreneurs.

Keywords: entrepreneurship, innovation, Canvas, traditional model

Procedia PDF Downloads 547

Authors: Khalid Bashir, Hammad Zahid

Abstract:

Most of the investors consider that economic and financial information is the most important at the time of making investment decisions. But it is not true, as in the past two decades, the Behavioral aspects and the behavioral biases have gained an important place in the decision-making process of an investor. This study is basically conducted on this fact. The purpose of this study is to examine the impact of behavioral factors on the decision-making of the individual real estate investor in Pakistan. Some important behavioral factors like overconfidence, anchoring, gambler’s fallacy, home bias, loss aversion, regret aversion, mental accounting, herding and representativeness are used in this study to find their impact on the psychology of individual investors. The targeted population is the real estate investor of Pakistan, and a sample of 650 investors is selected on the basis of convenience sampling technique. The data is collected through the questionnaire with a response rate of 46.15 %. Descriptive statistical techniques and SEM are used to analyze the data by using statistical software. The results revealed the fact that some behavioral factors have a significant impact on the decision-making of investors. Among all the behavioral biases, overconfidence, anchoring, gambler’s fallacy, loss aversion and representativeness have a significant positive impact on the decision-making of the individual investor, while the rest of biases like home bias, regret aversion, mental accounting, herding have less impact on the decision-making process of an individual.

Keywords: behavioral finance, anchoring, gambler’s fallacy, loss aversion

Procedia PDF Downloads 40

Authors: Gezahegn Gizaw

Abstract:

The FDRE Tourism Training Institute organizes forums for debates, best practices exchange and focus group discussions to forge a sustainable and growing tourism sector while minimizing negative impacts on the environment, communities, and cultures. This study aimed at applying empirical research method to identify and quantify relative importance of success factors and individual engagement indicators that were identified in these forums. Response to the 12-question survey was collected from a total of 437 respondents in academic training institutes (212), business executive and employee (204) and non-academic government offices (21). Overall, capacity building was perceived as the most important driver of success for stakeholder engagement. Business executive and employee category rated capacity building as the most important driver of success (53%), followed by decision-making process (27%) and community participation (20%). Among educators and students, both capacity building and decision-making process were perceived as the most important factors (40% of respondents), whereas community participation was perceived as the most important success factor only by 20% of respondents. Individual engagement score in capacity building, decision-making process and community participation showed highest variability by educational level of participants (variance of 3.4% - 5.2%, p<0.001). Individual engagement score in capacity building was highly correlated to perceived benefit of training on improved efficiency, job security, higher customer satisfaction and self-esteem. On the other hand, individual engagement score in decision making process was highly correlated to its perceived benefit on lowering business costs, improving ability to meet the needs of a target market, job security, self-esteem and more teamwork. The study provides a set of recommendations that help educators, business executives and policy makers to maximize the individual and synergetic effect of training, decision making process on sustainability and growth of the tourism sector in Ethiopia.

Keywords: engagement score, driver of success, capacity building, tourism

Procedia PDF Downloads 46

Authors: Thanisa Sirithaporn

Abstract:

The study aims to examine the diffusion of social innovation among Thai Community Enterprises in conjunction with a singular case study of a medium-sized corporation that has successfully transitioned from a charitable foundation to a sustainable, profitable entity creating value for both shareholders and the communities in which it operates. It seeks to bridge the gap between different streams of aligned research in the fields of diffusion, social innovation, and community enterprises into a more cohesive conceptual framework and thus to better understand the historical and current impediments that have resulted in so many enterprises failing to be sustainable. The methodology is mixed and dual phased. The initial quantitative phase uses a questionnaire as the main research instrument distributed among community enterprises throughout Thailand which will provide the themes for the qualitative phase through semi-structured interviews with key stakeholders at a commercial enterprise actively engaged in social innovation. The findings seek to present a more comprehensive conceptual framework and actionable guidelines to aid community enterprises to develop social innovation in a sustainable manner that creates value to its beneficiaries.

Keywords: diffusion, community enterprises, social innovation, Thailand

Procedia PDF Downloads 112

Authors: Komol Phaisarn, Anuphan Suttimarn, Vitchanan Keawtong, Kittisak Thongyoun, Chaiyos Jamsawang

Abstract:

This article is intended to analyze insurance information which contains information on the customer decision when purchasing life insurance pay package. The data were analyzed in order to present new customers with Life Insurance Perfect Pay package to meet new customers’ needs as much as possible. The basic data of insurance pay package were collect to get data mining; thus, reducing the scattering of information. The data were then classified in order to get decision model or decision tree using Algorithm C4.5 (J-48). In the classification, WEKA tools are used to form the model and testing datasets are used to test the decision tree for the accurate decision. The validation of this model in classifying showed that the accurate prediction was 68.43% while 31.25% were errors. The same set of data were then tested with other models, i.e. Naive Bayes and Zero R. The results showed that J-48 method could predict more accurately. So, the researcher applied the decision tree in writing the program used to introduce the product to new customers to persuade customers’ decision making in purchasing the insurance package that meets the new customers’ needs as much as possible.

Keywords: decision tree, data mining, customers, life insurance pay package

Procedia PDF Downloads 406

Authors: Paul Ihuoma Oluikpe

Abstract:

The purpose of this paper is to explore and highlight the process of creating value for strategy management by embedding knowledge management in the business process. Knowledge management can be seen from a three-dimensional perspective of content, connections and competencies. These dimensions can be embedded in the knowledge processes (create, capture, share, and apply) and operationalized within a business process to effectively create a scenario where knowledge can be focused on enabling a process and the process in turn generates outcomes. The application of knowledge management on business processes of organizations is rare and underreported. Few researches have explored this paradigm although researches have tended to reinforce the notion that competitive advantage sits within the internal aspects of the firm. Given this notion, it is surprising that knowledge management research and practice have not focused sufficiently on the business process which is the basic unit of organizational decision implementation. This research serves to generate understanding on applying KM in business process using a large multinational in Sub-Saharan Africa.

Keywords: knowledge management, business process, strategy, multinational

Procedia PDF Downloads 668

Authors: Elahe Memari, Ahmad Aslizadeh, Ahmad Memari

Abstract:

Today strategic planning is counted as the most important duties of senior directors in each organization. Strategic planning allows the organizations to implement compiled strategies and reach higher competitive benefits than their competitors. The present research work tries to prepare and rank the strategies form effective factors on strategic planning in fulfillment of the State Road Management and Transportation Organization in order to indicate the role of organizational factors in efficiency of the process to organization managers. Connection between six main factors in fulfillment of State Road Management and Transportation Organization were studied here, including Improvement of Strategic Thinking in senior managers, improvement of the organization business process, rationalization of resources allocation in different parts of the organization, coordination and conformity of strategic plan with organization needs, adjustment of organization activities with environmental changes, reinforcement of organizational culture. All said factors approved by implemented tests and then ranked using fuzzy multivariate decision-making technique.

Keywords: Fuzzy TOPSIS, improvement of organization business process, multivariate decision-making, strategic planning

Procedia PDF Downloads 390

Authors: Xin Wang, Chaoqun Ma, Zheng Yao

Abstract:

Although green technology innovation faces new opportunities and challenges in the digital era, its theoretical research remains limited. Drawing on the attention-based view, this study employs the spatial Durbin model to investigate the impact of local government digital attention and digital industrial agglomeration on green technology innovation across 30 Chinese provinces from 2011 to 2021, as well as the spatial spillover effects present. The results suggest that both government digital attention and digital industrial agglomeration positively influence green technology innovation in local and neighboring provinces, with digital industrial agglomeration exhibiting a positive moderating effect on this direct local and indirect spatial spillover relationship. The findings of this study provide a new theoretical perspective for green technology innovation research and hold valuable implications for the advancement of the attention-based view and green technology innovation.

Keywords: local government digital attention, digital industrial agglomeration, green technology innovation, attention-based view

Procedia PDF Downloads 47