Search results for: the effectiveness of company

Authors: J. J. M. Trienekens, H. L. Romero, L. Cuenca

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While process harmonization is increasingly mentioned and unanimously associated with several benefits, there is a need for more understanding of how it contributes to business process redesign and improvement. This paper presents the application, in an industrial case study, of a conceptual harmonization model on the relationship between drivers and effects of process harmonization. The drivers are called contextual factors which influence harmonization. Assessment of these contextual factors in a particular business domain, clarifies the extent of harmonization that can be achieved, or that should be strived at. The case study shows how the conceptual harmonization model can be made operational and can act as a valuable assessment tool. From both qualitative, as well as some quantitative, assessment results, insights are being discussed on the extent of harmonization that can be achieved, and action plans are being defined for business (process) harmonization.

Keywords: case study, contextual factors, process harmonization, industrial company

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Authors: Sara Mostowfi, Hassan Sadeghinaeini, Sana Behnamasl, Leila Ensaniat, Maryam Mostafaee

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Nowadays, most of product producers, e.g. home appliance, electronic machines and vehicles focus on quality and comfort, and promise consumers ease of use and pleasurable experiences during product using. Consumers make their purchase decisions according to two needs: functional and emotional needs. Functional needs are fulfilled by product functionality, besides emotional needs are related to psychologists’ aspects of production. Emotions are distinctive elements which should be added to products and services to lead them up. In this case, the authors’ survey conducted pleasurable and hedonomic aspects in products of a home appliance company in Iran. In this regard, three samples of home appliance were selected: mixer, rice cooker, iron. Fifteen women (20-60) participated in this study. Every user evaluated each product by questionnaire based on 7 point semantic differential scale. After analyzing the results with statistical methods, results showed that 90% of users aren’t satisfied with hedonic and pleasurable criteria in interaction with these products. They notified that regarding hedonomics and pleasurable criteria’s they will have better ease of use and functionality. Our findings show a significant association between products’ features and user satisfaction. It seems that industrial design has a significant impression on the company’s products and with regard the pleasurable criteria the company sales will be more successful.

Keywords: home appliance, interaction, pleasure, hedonomy, ergonomy

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Authors: Abdolmajid Mosleh, Afzal Ghasimi

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The purpose of this research is to investigate and identify effective factors that can improve the quality of personal performance in industrial companies. In the present study, it was assumed that the hidden variables of talent management could be explained by an important part of the variance in improving the quality of employee performance. This research is targeted in terms of applied research. The statistical population of the research is SAIPA automobile company with a number (N=10291); the sample of 380 people was selected based on the Cochran formula in a random sampling method among employed people. The measurement tool in this research was a questionnaire of 33 items with a control questionnaire that included two talent management departments (talent identification and talent exploitation) and improvements in staff performance (enhancement of technical and specialized capabilities, managerial capability, organizational interaction, and communication). The reliability of the internal consistency method was confirmed by the Cronbach's alpha coefficient and the two half-ways. In order to determine the validity of the questionnaire structure, confirmatory factor analysis was used. Based on the results of the data analysis, the effect of talent management on improving the quality of staff performance was confirmed. Based on the results of inferential statistics and structural equations of the proposed model, it had high fitness.

Keywords: employee performance, talent management, performance improvement, SAIPA automobile manufacturing company

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Authors: Sevgi Özlem Bulu, Arif Furkan Mendi, Tolga Erol, İzzet Gökhan Özbilgin

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The rapid progress of technology in today's competitive conditions has also accelerated companies' technology development activities. As a result, companies are paying more attention to R&D studies and are beginning to allocate a larger share to R&D projects. A more systematic, comprehensive, target-oriented implementation of R&D studies is crucial for the company to achieve successful results. As a consequence, Technology Roadmap (TRM) is gaining importance as a management tool. It has critical prospects for achieving medium and long term success as it contains decisions about past business, future plans, technological infrastructure. When studies on TRM are examined, projects to be placed on the roadmap are selected by many different methods. Generally preferred methods are based on multi-criteria decision making methods. Management of selected projects becomes an important point after the selection phase of the projects. At this stage, TRM are used. TRM can be created in many different ways so that each institution can prepare its own Technology Roadmap according to their strategic plan. Depending on the intended use, there can be TRM with different layers at different sizes. In the evaluation phase of the R&D projects and in the creation of the TRM, HAVELSAN, Turkey's largest defense company in the software field, carries out this process with great care and diligence. At the beginning, suggested R&D projects are evaluated by the Technology Management Board (TMB) of HAVELSAN in accordance with the company's resources, objectives, and targets. These projects are presented to the TMB periodically for evaluation within the framework of certain criteria by board members. After the necessary steps have been passed, the approved projects are added to the time-based TRM, which is composed of four layers as market, product, project and technology. The use of a four-layered roadmap provides a clearer understanding and visualization of company strategy and objectives. This study demonstrates the benefits of using TRM, four-layered Technology Roadmapping and the possibilities for the institutions in the defense industry.

Keywords: technology roadmap, research and development project, project selection, research development in defense industry

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Authors: Suvankar Chakraborty

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Introduction: Corporate Social Responsibility means the obligations of business to act in a manner which will serve the best interests of the Society. The Companies Act , 2013 for the first time has emphasized on the fact that every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director. In the previous Companies Act, 1956 there was no such compulsion for constituting a Corporate Social Responsibility Committee. Objective: This study examines the changes in the perception of corporate sectors so far as social responsibility is concerned. Methodology: The study is based on secondary data obtained from various websites of different corporate sectors and the Gazette of India related to Companies Act, 1956 and the new Companies Act, 2013. For capturing the perception of the corporate world regarding the provisions of CSR in the new Companies Act, 2013, primary data has been collected through structured questionnaire. Findings: Corporate Social Responsibility can put a company on a strong base of sustainable development and in facing the business risk of foreclosure or winding up. Shouldering social responsibility on a long-term basis can help a company not only in increasing its reputation in the business world but also helps in minimizing Government intervention. . But, there can hardly be any universal rule that the area of social responsibility being wholly and solely dependent on the ethical aspect of the corporate sectors. But having said that it may be asserted that business ethics may be a key driver of CSR activities rather than rule based CSR activities in the years to come.

Keywords: business ethics, corporate social responsibility, companies act, 2013, CSR committee

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Authors: Markandeya Kunchi

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Usability testing (UT) is one of the vital steps in the User-centred design (UCD) process when designing a product. In an e-commerce ecosystem, UT becomes primary as new products, features, and services are launched very frequently. And, there are losses attached to the company if an unusable and inefficient product is put out to market and is rejected by customers. This paper tries to answer why UT is important in the product life-cycle of an E-commerce ecosystem. Secondary user research was conducted to find out work patterns, development methods, type of stakeholders, and technology constraints, etc. of a typical E-commerce company. Qualitative user interviews were conducted with product managers and designers to find out the structure, project planning, product management method and role of the design team in a mid-level company. The paper tries to address the usual apprehensions of the company to inculcate UT within the team. As well, it stresses upon factors like monetary resources, lack of usability expert, narrow timelines, and lack of understanding of higher management as some primary reasons. Outsourcing UT to vendors is also very prevalent with mid-level e-commerce companies, but it has its own severe repercussions like very little team involvement, huge cost, misinterpretation of the findings, elongated timelines, and lack of empathy towards the customer, etc. The shortfalls of the unavailability of a UT process in place within the team and conducting UT through vendors are bad user experiences for customers while interacting with the product, badly designed products which are neither useful and nor utilitarian. As a result, companies see dipping conversions rates in apps and websites, huge bounce rates and increased uninstall rates. Thus, there was a need for a more lean UT system in place which could solve all these issues for the company. This paper highlights on optimizing the UT process with a collaborative method. The degree of optimization and structure of collaborative method is the highlight of this paper. Collaborative method of UT is one in which the centralised design team of the company takes for conducting and analysing the UT. The UT is usually a formative kind where designers take findings into account and uses in the ideation process. The success of collaborative method of UT is due to its ability to sync with the product management method employed by the company or team. The collaborative methods focus on engaging various teams (design, marketing, product, administration, IT, etc.) each with its own defined roles and responsibility in conducting a smooth UT with users In-house. The paper finally highlights the positive results of collaborative UT method after conducting more than 100 In-lab interviews with users across the different lines of businesses. Some of which are the improvement of interaction between stakeholders and the design team, empathy towards users, improved design iteration, better sanity check of design solutions, optimization of time and money, effective and efficient design solution. The future scope of collaborative UT is to make this method leaner, by reducing the number of days to complete the entire project starting from planning between teams to publishing the UT report.

Keywords: collaborative method, e-commerce, product management method, usability testing

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Authors: Yichen Lin, Hsiao-Han Chen, Chi-Chen Jan

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Since 1990, the research area of Integrated Marketing Communications (IMC) has been presented from a different perspective. With advances in information technology and the rise of consumer consciousness, businesses are in a competitive environment. There is an urgent need to adopt more profitable and effective integrated marketing strategies to increase core competitiveness. The goal of the company's sustainable management is to increase consumers' willingness to purchase and to maximize profits. This research uses six aspects of IMC, which includes awareness integration, unified image, database integration, customer-based integration, stakeholders-based integration, and evaluation integration to examine the role of marketing strategies in the strengths and weaknesses of the six components of integrated marketing communications, their effectiveness, the most important components and the most important components that need improvement. At the same time, social media such as FaceBook, Instagram, Youtube, Line, or even TikTok have become marketing tools which firms adopt them more and more frequently in the marketing strategy. In the end of 2019, the outbreak of COVID-19 did really affect the global industries. Lockdown policies also accelerated closure of brick-mentor stores worldwide. Online purchases rose dramatically. Hence, the effectiveness of online marketing will be essential to maintain the business. This study uses multiple-case studies to extend the effects of social media and IMC. Moreover, the study would also explore the differences of social media and IMC during COVID-19. Through literature review and multiple-case studies, it is found that using social media combined with IMC did really help companies expand their business and make good connections with stakeholders. One of previous studies also used system theory to explore the interrelationship among Integrated Marketing Communication, collaborative marketing, and global brand building. Even during pandemic, firms could still maintain the operation and connect with their customers more tightly.

Keywords: integration marketing communications, multiple-case studies, social media, system theory

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Authors: Keerthana Gonella, Kamesh Apparaju

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Teams are all pervasive and team leadership is a much discussed topic in managing projects that characterize the modern work environment. Biotechnology industry in India is an area of research interest for scholars on leadership, especially, team leadership. The present paper examines the perception of team members on the effectiveness of their team leaders in the biotechnology industry in India. This is an empirical study in which the data was collected by administering the closed-ended questionnaire to the respondents from across India. The effectiveness of the team leader is dependent upon his goal orientation that creates a collaborative climate. Leaders with technical know-how inspire teamwork with trust. They build confidence, mitigate the differences and expand team capabilities through teamwork. Effective leaders also create team identity making the most of the differences with a vision.

Keywords: collaboration, perception, team, team capabilities, team leadership

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Authors: Anocha Rojanapanich

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The objective of this research is to investigate the effects of earnings management on corporate transparency of the company in Dusit area workplace via financial reporting reliability and stakeholder acceptance as independent variable. And the company in Dusit are are taken as the population and sample. The questionnaire is used to collect data. Exploratory Factor Analysis is implemented to ensure construct validity, and correlation statistic is selected to test the relationship among all variable and the ordinary least squares regression is used to explore the hypothesized. The results show that earnings management has a significant and negative impact on financial reporting reliability, stakeholder acceptance, and corporate transparency. Both financial reporting reliability and stakeholder acceptance have an important and positive effect on corporate transparency, and they are then mediators of the earnings management-corporate transparency relationships.

Keywords: dusit area workplace, earnings management, financial report, business and marketing management

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Authors: Mokoena Oratilwe Penwell, Seeletse Solly Matshonisa

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The demand for quality products is a vital factor determining the success of a producing company, and the reality of this demand influences customer satisfaction. In Sefako Makgatho Health Sciences University (SMU), concerns over the quality of food being sold have been raised by mostly students and staff who are primary consumers of food being sold by the cafeteria. Suspicions of food poisoning and the occurrence of diarrhea-related to food from the cafeteria, amongst others, have been raised. However, minimal measures have been taken to resolve the issue of food quality. New service providers have been appointed, and still, the same trends are being observed, the quality of food seems to depreciate continuously. This paper uses multi-attribute failure mode analysis (MAFMA) for failure detection and minimization on the machines used for food production by SMU catering company before being sold to both staff, and students so as to improve production plant reliability, and performance. Analytical Hierarchy Process (AHP) will be used for the severity ranking of the weight criterions and development of the hierarchical structure for the cafeteria company. Amongst other potential issues detected, maintenance of the machines and equipment used for food preparations was of concern. Also, the staff lacked sufficient hospitality skills, supervision, and management in the cafeteria needed greater attention to mitigate some of the failures occurring in the food production plant.

Keywords: MAFMA, food quality, maintenance, supervision

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Authors: Feng-Tsung Cheng, Shu-Li Wang, Mei-Fang Wu, , Hui-Yu Chuang

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Due to the rapid development of modern technology, the widespread usage of the Internet makes business environment changing quickly. In order to be a leader in the global competitive market and to pursuit survive, “changing” becomes an unspoken rules need to follow for the company survival. The purpose of this paper is to build change model by using SWOT, strategy map, and balance scorecard, KPI and change management theory. The research findings indicate that organizational change plan formulated by the case company should require the employee to resist change factors and performance management system issues into consideration and must be set organizational change related programs, such as performance appraisal reward system, consulting and counseling mechanisms programs to improve motivation and reduce staff negative emotions. Then according to the model revised strategy maps and performance indicators proposed in this paper, such as strategy maps add and modify corporate culture, improve internal processes management, increase the growth rate of net income and other strategies. The performance indicators are based on strategy maps new and modified by adding net income growth rate, to achieve target production rate, manpower training achievement rates and other indicators, through amendments to achieve the company’s goal, be a leading brand of precision machinery industry.

Keywords: organizational change, SWOT analysis, strategy maps, performance indicators

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Authors: Ekaterina Leusheva, Valentin Morenov

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Well drilling in hard rocks is coupled with high energy demands which negates the speed of the process and thus reduces overall effectiveness. Aim of this project is to develop the technique of experimental research, which would allow to select optimal washing fluid composition while adding special hardness reducing detergent reagents. Based on the analysis of existing references and conducted experiments, technique dealing with quantitative evaluation of washing fluid weakening influence on drilled rocks was developed, which considers laboratory determination of three mud properties (density, surface tension, specific electrical resistance) and three rock properties (ultimate stress, dynamic strength, micro-hardness). Developed technique can be used in the well drilling technologies and particularly while creating new compositions of drilling muds for increased destruction effectiveness of hard rocks. It can be concluded that given technique introduces coefficient of hard rocks destruction effectiveness that allows quantitative evaluation of different drilling muds on the drilling process to be taken. Correct choice of drilling mud composition with hardness reducing detergent reagents will increase drilling penetration rate and drill meterage per bit.

Keywords: detergent reagents, drilling mud, drilling process stimulation, hard rocks

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Authors: Felipa De Mello-Sampayo

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Background: The aim of this study is to undertake, from a patient perspective, an economic analysis of presurgical teledermatology, comparing it with a conventional referral system. Store-and-forward teledermatology allows surgical planning, saving both time and number of visits involving travel, thereby reducing patients’ out-of-pocket expenses, i.e., costs that patients incur when traveling to and from health providers for treatment, visits’ fees, and the opportunity cost of time spent in visits. Method: Patients’ out-of-pocket expenses-effectiveness of presurgical teledermatology were analyzed in the setting of a public hospital during two years. The mean delay in surgery was used to measure effectiveness. The teledermatology network covering the area served by the Hospital Garcia da Horta (HGO), Portugal, linked the primary care centers of 24 health districts with the hospital’s dermatology department. The patients’ opportunity cost of visits, travel costs, and visits’ fee of each presurgical modality (teledermatology and conventional referral), the cost ratio between the most and least expensive alternative, and the incremental cost-effectiveness ratio were calculated from initial primary care visit until surgical intervention. Two groups of patients: those with squamous cell carcinoma and those with basal cell carcinoma were distinguished in order to compare the effectiveness according to the dermatoses. Results: From a patient perspective, the conventional system was 2.15 times more expensive than presurgical teledermatology. Teledermatology had an incremental out-of-pocket expenses-effectiveness ratio of €1.22 per patient and per day of delay avoided. This saving was greater in patients with squamous cell carcinoma than in patients with basal cell carcinoma. Conclusion: From a patient economic perspective, teledermatology used for presurgical planning and preparation is the dominant strategy in terms of out-of-pocket expenses-effectiveness than the conventional referral system, especially for patients with severe dermatoses.

Keywords: economic analysis, out-of-pocket expenses, opportunity cost, teledermatology, waiting time

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Authors: S. Jayasinghe, R. B. N. Dissanayake

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Optimization modelling together with the Network models and Linear Programming techniques is a powerful tool in problem solving and decision making in real world applications. This study developed a mathematical model to optimize the net profit by minimizing the transportation cost. This model focuses the transportation among decentralized production plants to a centralized distribution centre and then the distribution among island wide agencies considering the customer satisfaction as a requirement. This company produces basically 9 types of food items with 82 different varieties and 4 types of non-food items with 34 different varieties. Among 6 production plants, 4 were located near the city of Mawanella and the other 2 were located in Galewala and Anuradhapura cities which are 80 km and 150 km away from Mawanella respectively. The warehouse located in the Mawanella was the main production plant and also the only distribution plant. This plant distributes manufactured products to 39 agencies island-wide. The average values and average amount of the goods for 6 consecutive months from May 2013 to October 2013 were collected and then average demand values were calculated. The following constraints are used as the necessary requirement to satisfy the optimum condition of the model; there was one source, 39 destinations and supply and demand for all the agencies are equal. Using transport cost for a kilometer, total transport cost was calculated. Then the model was formulated using distance and flow of the distribution. Network optimization and linear programming techniques were used to originate the model while excel solver is used in solving. Results showed that company requires total transport cost of Rs. 146, 943, 034.50 to fulfil the customers’ requirement for a month. This is very much less when compared with data without using the model. Model also proved that company can reduce their transportation cost by 6% when distributing to island-wide customers. Company generally satisfies their customers’ requirements by 85%. This satisfaction can be increased up to 97% by using this model. Therefore this model can be used by other similar companies in order to reduce the transportation cost.

Keywords: mathematical model, network optimization, linear programming

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Authors: Sitaram Dahal

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Among many strategic and practical needs in overcoming the threats and challenges being experienced in the global environment, constitutional provision for Rights to live in clean and healthy environment is one and so is the school curriculum incorporating information on such rights. Government of Nepal has also introduced information on rights to live in clean and healthy environment, as provisioned in its interim constitution of 2007, in the secondary level curriculum of formal education. As the predetermined specific objective of such curriculum is to prepare students who are conscious of citizens’ rights and responsibilities and are able to adopt functions, duties and rights of the rights holders and duty bearers; the study was designed to assess the effectiveness of such curriculum. The study was conducted in one private school and a community school to assess the effectiveness of such curriculum. The study shows that such curriculum has been able to make students responsible duty bearers as they were aware of their habits towards environment. Whereas only very few students are aware enough as being rights holders. Students of community schools were aware rights holders as they complain if they are not satisfied with the environment of the school itself. But private school is far behind in this case. It can be said that only curriculum with very few portion of information on such rights might not be capable enough to meet its objective.

Keywords: curriculum, environmental rights, constitution, effectiveness

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Authors: Chiung-Yao Huang, Yu-Cheng Lin, Chiung-Hui Chen

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This study seeks to examine perceived environmental corporate social responsibility (ECSR) with a focus on negative environmental questions, related to intention of ethical investment intention after a environmental failure recovery. An empirical test was employed to test the hypotheses. We manipulated the information on negative ECSR activities of a hypothetical firm in a experimental design with a failure recovery treatment. The company’s negative ECSR recovery was depicted in a positive perspective (depicting a follow-up strong social action), whereas in the negative ECSR treatment it was described in a negative perspective (depicting a follow-up non social action). In both treatments, information about other key characteristics of the focal company were kept constant. Investors’ intentions to invest in the company’s stock were evaluated by multi-item scales. Results indicate that positive ECSR recovery information about a firm enhances investors’ intentions to invest in the company’s stock. In addition, perceived moral intensity has a significant impact on the intention of ethical investment and that perceived moral intensity also serves as a key moderating variable in the relationship between negative ECSR and the intention of ethical investment. Finally, theoretical and managerial implications of the findings are discussed. Practical implications: The results suggest that managers may need to be aware of perceived moral intensity as a key variable in restoring the intention of ethical investment. The results further suggest that perceived moral intensity has a direct, and it also has an moderating influence between ECSR and the intention of ethical investment. Originality/value: In an attempt to deepen the understanding of how investors perceptions of firm environmental CSR are connected with other investor‐related outcomes through ECSR recovery, the present research proposes a comprehensive model which encompasses ECSR and other key relationship constructs after a ECSR failure and recovery.

Keywords: ethical investment, Environmental Corporate Social Responsibility(ECSR), ECSR recovery, moral intensity

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Authors: Kedwadee Sombultawee, Sakun Boon-Itt

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This research demonstrates a systematic literature review of 62 peer-reviewed articles published in academic journals from 2000-2016 focusing on the operation and marketing interface area. The findings show the three major clusters of recent research domains, which is a review of the alignment between operations and marketing, identification of variables that impact the company and analysis of the effect of interface. Moreover, the Main Path Analysis (MPA) is mapped to show the knowledge structure of the operation and marketing interface issue. Most of the empirical research focused on company performance and new product development then analyzed the data by the structural equation model or regression. Whereas, some scholars studied the conflict of these two functions and proposed the requirement or step for alignment. Finally, the gaps in the literature are provided for future research directions.

Keywords: operations management, marketing, interface, systematic literature review

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Authors: F. Felipe

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Air Defense Systems contain high-value assets that are expected to fulfill their mission for several years - in many cases, even decades - while operating in a fast-changing, technology-driven environment. Thus, it is paramount that decision-makers can assess how effective an Air Defense System is in the face of new developing threats, as well as to identify the bottlenecks that could jeopardize the security of the airspace of a country. Given the broad extent of activities and the great variety of assets necessary to achieve the strategic objectives, a systems approach was taken in order to delineate the core requirements and the physical architecture of an Air Defense System. Then, value-focused thinking helped in the definition of the measures of effectiveness. Furthermore, analytical methods were applied to create a formal structure that preliminarily assesses such measures. To validate the proposed methodology, a powerful simulation was also used to determine the measures of effectiveness, now in more complex environments that incorporate both uncertainty and multiple interactions of the entities. The results regarding the validity of this methodology suggest that the approach can support decisions aimed at enhancing the capabilities of Air Defense Systems. In conclusion, this paper sheds some light on how consolidated approaches of Systems Engineering and Operations Research can be used as valid techniques for solving problems regarding a complex and yet vital matter.

Keywords: air defense, effectiveness, system, simulation, decision-support

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Authors: Jayant Kumar, Aarcha Jayachandran Sasikala, Barry Adrian Shepherd

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Public Distribution System is a flagship welfare programme of the Government of India with both historical and political significance. Targeted at lower sections of society,it is one of the largest supply chain networks in the world. There has been several studies by academics and planning commission about the effectiveness of the system. Our study focuses on applying predictive analytics to aid the central body to keep track of the problem of breach of service level agreement between the two echelons of food supply chain. Each shop breach is leading to a potential additional inventory carrying cost. Thus, through this study, we aim to show that aided with such analytics, the network can be made more cost effective. The methods we illustrate in this study are applicable to other commercial supply chains as well.

Keywords: PDS, analytics, cost effectiveness, Karnataka, inventory cost, service level JEL classification: C53

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Authors: Vidya Nimkar Tayade

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Introduction: Intellectual capital of an organization is a key factor to success. Many companies invest a huge amount in their Research and development activities. Any innovation is helpful not only to that particular company but also to many other companies, industry and mankind as a whole. Companies undertake innovative changes for increasing their capital profitability and indirectly increase in pay packages of their employees. The quality of human capital can also improve due to such positive changes. Employees become more skilled and experienced due to such innovations and inventions. For increasing intangible capital, the author has referred to a couple of books and referred case studies to come to a conclusion. Different charts and tables are also referred to by the author. Case studies are more important because they are proven and established techniques. They enable students to apply theoretical concepts in real-world situations. It gives solutions to an open-ended problem with multiple potential solutions. There are three different strategies for undertaking intellectual capital increase. They are: Research push strategy/ Technology pushed approach, Market pull strategy/ approach and Open innovation strategy/approach. Research push strategy, In this strategy, research is undertaken and innovation is achieved on its own. After invention inventor company protects such invention and finds buyers for such invention. In this way, the invention is pushed into the market. In this method, research and development are undertaken first and the outcome of this research is commercialized. Market pull strategy, In this strategy, commercial opportunities are identified first and our research is concentrated in that particular area. For solving a particular problem, research is undertaken. It becomes easier to commercialize this type of invention. Because what is the problem is identified first and in that direction, research and development activities are carried on. Open invention strategy, In this type of research, more than one company enters into an agreement of research. The benefits of the outcome of this research will be shared by both companies. Internal and external ideas and technologies are involved. These ideas are coordinated and then they are commercialized. Due to globalization, people from the outside company are also invited to undertake research and development activities. Remuneration of employees of both the companies can increase and the benefit of commercialization of such invention is also shared by both the companies. Conclusion: In modern days, not only can tangible assets be commercialized, but also intangible assets can also be commercialized. The benefits of such an invention can be shared by more than one company. Competition can become more meaningful. Pay packages of employees can improve. It Is a need for time to adopt such strategies to benefit employees, competitors, stakeholders.

Keywords: innovation, protection, management, commercialization

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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The integral role oil-crushing companies play in sunflower oil production is often overlooked to offer high-quality oil to refineries and end consumers. Sunflower oil crushing companies in South Africa are exposed to price fluctuations resulting from the local and international markets. Hedging instruments enable these companies to hedge themselves against unexpected prices spikes and to ensure sustained profitability. A crushing company is a necessary middleman, and as such, these companies have exposure to the purchasing and selling sides of sunflower. Sunflower oil crushing companies purchase sunflower seeds from farmers or agricultural companies that provide storage facilities. The purchasing price is determined by the supply and demand of sunflower seed, both national and international. When the price of sunflower seeds in South Africa is high but still below import parity, then the crush margins realised by these companies are reduced or even negative at times. There are three main products made by sunflower oil crushing companies, oil, meal, and shells. Profits are realised from selling three products, namely, sunflower oil, meal and shells. However, when selling sunflower oil to refineries, sunflower oil crushing companies needs to hedge themselves against a reduction in vegetable oil prices. Hedging oil prices is often done via futures and is subject to specific volume commitments before a hedge position can be taken in. Furthermore, South African oil-crushing companies hedge sunflower oil with international, Over-the-counter contracts as South Africa is a price taker of sunflower oil and not a price maker. As such, South Africa provides a fraction of the world’s sunflower oil supply and, therefore, has minimal influence on price changes. The advantage of hedging using futures ensures that the sunflower crushing company will know the profits they will realise, but the downside is that they can no longer benefit from a price increase. Alternative hedging instruments like options might pose a solution to the opportunity cost does not go missing and that profit margins are locked in at the best possible prices for the oil crushing company. This paper aims to investigate the possibility of employing options alongside futures to simulate different scenarios to determine if options can bridge the opportunity cost gap.

Keywords: derivatives, hedging, price risk, sunflower, sunflower oil, South Africa

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Authors: Puttharapong Sakulwaropas, Uraiwan Jaroengeratikun

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Casualty insurance business, the optimal premium pricing and adequate cost for an insurance company are important in risk management. Normally, the insurance pure premium can be determined by multiplying the claim frequency with the claim cost. The aim of this research was to study in the application of generalized linear models to select the risk factor for model of claim frequency and claim cost for estimating a pure premium. In this study, the data set was the claim of comprehensive motor insurance, which was provided by one of the insurance company in Thailand. The results of this study found that the risk factors significantly related to pure premium at the 0.05 level consisted of no claim bonus (NCB) and used of the car (Car code).

Keywords: generalized linear models, risk factor, pure premium, regression model

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Authors: Khadijah Hasim, Achmad Fauzan Firdaus, Choirunnisa

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Waqf land which previously was idle assets can be built on top of a building that is a means for people to conduct business. Nadzir (waqf managers) lease of waqf lands it manages, the agreed rental fee, which is payable in the form of the building, not in cash. After standing building, the developer will lease to interested companies. Given the magnitude of the beginning funds needed, The company later issuing sukuk al-intifa on the trading floor. With this sukuk issuance, the company has sufficient capital to begin operations and pay obligations of the rental fee to the developer each year. Building that had stood trade area will be established (Micro, Small, Middle Entreprises) MSMEs. It is expected that through the sukuk al-intifa, can help to make waqf land previously unproductive due to lack of capital to be very beneficial and help awaken the people of Indonesian MSMEs

Keywords: Sukuk Al-Intifa, MSMEs, waqf land, underlying asset

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Authors: Essam Amerian

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The aim of this study was to investigate the effects of improving waist-to-hip ratio (WHR) and visceral fat components on the health of shift workers in an offshore petrochemical company. A total of 100 male shift workers participated in the study, with an average age of 40.5 years and an average BMI of 28.2 kg/m². The study employed a randomized controlled trial design, with participants assigned to either an intervention group or a control group. The intervention group received a 12-week program that included dietary counseling, physical activity recommendations, and stress management techniques. The control group received no intervention. The outcomes measured were changes in WHR, visceral fat components, blood pressure, and lipid profile. The results showed that the intervention group had a statistically significant improvement in WHR (p<0.001) and visceral fat components (p<0.001) compared to the control group. Furthermore, there were statistically significant improvements in systolic blood pressure (p=0.015) and total cholesterol (p=0.034) in the intervention group compared to the control group. These findings suggest that implementing a 12-week program that includes dietary counseling, physical activity recommendations, and stress management techniques can effectively improve WHR, visceral fat components, and cardiovascular health among shift workers in an offshore petrochemical company.

Keywords: body composition, waist-hip-ratio, visceral fat, shift worker, work efficiency

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Authors: Ethelbert Chinedu Nwokorie

Abstract:

This empirical study analyzes the impact of communication and networking functions of Nigerian and Ghanaian public sector managers’ on public sector effectiveness. The focus is on which of these management functions public sector managers’ in these countries perform most, why, how and how does it affect effectiveness of public sector organizations in the two countries. This qualitative analysis was done by interviewing middle and top level managers in some selected public sector organizations in the two countries on their practical experiences. Findings reveal that ineffectiveness of public sector organizations in Ghana persists because public sector managers perform more of networking functions to promote their individual carrier success and progression in their various organizations, rather than achieving the organizations goals and objectives. In Nigeria, though majority of the interviewed public sector managers perform more communication functions than networking, they do this mostly by treating files and correspondences, instead of face-to-face communication and interaction with employees’. Hence, they hardly relate directly with their employees’ to find out how they are performing their jobs, their challenges, where they are having problems and why. The findings and recommendations of this study will help in improving effectiveness, quality and service delivery in Nigerian and Ghanaian public sector organizations and beyond.

Keywords: effectiveness, communication, employees, management, networking, organization, public sector

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Authors: Xiaojun Wang

Abstract:

In a lucky emerging market, most Sino commercial banks has developed rapidly and achieved dazzling performance in recent years. As a large sound commercial bank with long history, Wells Fargo Company(WFC) is taken as a mirror in this paper in order to roughly find out the relevance on life circle of the Sino banks in comparison with WFC. Two financial measures return on equity(ROE) and overall labor productivity(OLP), three commercial banks the Hong Kong and Shanghai Banking Corporation Limited(HSBC), the Bank of Communication(BCM) and China Minsheng Bank(CMSB) are selected. The comparison data coming from historical annual reports of each company vary from 13 years to 51 years. Several conclusions from the results indicate that most Sino commercial banks would be continually developing with lower financial measures performance for later several decades.

Keywords: commercial bank, features comparison, labor productivity, return on equity

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Authors: Silke Bustamante, Andrea Pelzeter, Andreas Deckmann, Rudi Ehlscheidt, Franziska Freudenberger

Abstract:

CSR is associated with a great number of positive effects. This also includes the positive impact of CSR on the commitment of its employees. The internal CSR communication here takes the essential function as a mediator of the CSR performance of a company to the employees. The importance of CSR communication is, therefore, essential. Employees can usually only perceive the CSR efforts of a company if it is also communicated to them. Only if the employees perceive the CSR of their employer positively, the employer-CSR can also have a positive impact on their affective commitment. Therefore, organizational and individual factors are crucial and thus need to consider. This relationship between the organizational and individual factors was investigated in a qualitative case study in six companies of the German service sector. Expert interviews and focus group interviews were conducted and questionnaire-based ratings by company representatives were raised. Among the individual factors, in terms of CSR, the expectations and relevance of its employees, as well as the perception of CSR by the staff, are included. The organizational factors include the actual CSR performance and its communication. Ultimately, the impact of CSR on the commitment is examined with this holistic approach. The results show that the individual CSR perception does not always match the corporate CSR performance and its depiction in internal communication. Furthermore, employees have given suggestions on how CSR should be communicated by their employer. Knowledge memory systems (e.g. wiki) on the on hand and media-based information, on the other hand, were highlighted. Primarily the employee-related CSR is most important for the employees, whereas ecological CSR activities hardly play a role. The findings indicate the importance of CSR communication in the CSR concept as it provides the missing link between CSR performance and appreciation by an increase in commitment. It should only be communicated, what is done. CSR communication should also be carried out in a plausible and transparent way.

Keywords: CSR, employee commitment, employer brand, internal communication

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Authors: Badache Messaoud

Abstract:

Geothermal thermosyphons (GTs) are increasingly used in many heating and cooling geothermal applications owing to their high heat transfer performance. This paper proposes a response surface methodology (RSM) to investigate and optimize the performance of a CO2 geothermal thermosyphon. The filling ratio (FR), temperature, and flow rate of the heat transfer fluid are selected as the designing parameters, and heat transfer rate and effectiveness are adopted as response parameters (objective functions). First, a dedicated experimental GT test bench filled with CO2 was built and subjected to different test conditions. An RSM was used to establish corresponding models between the input parameters and responses. Various diagnostic tests were used to assess evaluate the quality and validity of the best-fit models, which explain respectively 98.9% and 99.2% of the output result’s variability. Overall, it is concluded from the RSM analysis that the heat transfer fluid inlet temperatures and the flow rate are the factors that have the greatest impact on heat transfer (Q) rate and effectiveness (εff), while the FR has only a slight effect on Q and no effect on εff. The maximal heat transfer rate and effectiveness achieved are 1.86 kW and 47.81%, respectively. Moreover, these optimal values are associated with different flow rate levels (mc level = 1 for Q and -1 for εff), indicating distinct operating regions for maximizing Q and εff within the GT system. Therefore, a multilevel optimization approach is necessary to optimize both the heat transfer rate and effectiveness simultaneously.

Keywords: geothermal thermosiphon, co2, Response surface methodology, heat transfer performance

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Authors: Mandlenkosi G. R. Mahlobo, Peter A. Olubambi

Abstract:

Cathodic protection (CP) has been widely considered as a suitable technique for mitigating corrosion of steel structures buried in soil. Plenty of efforts have been made in developing techniques, in particular non-destructive techniques, for monitoring and quantifying the effectiveness of CP to ensure the sustainability and performance of buried steel structures. This study was aimed at using a specifically modified voltammetry approach as a non-destructive tool to monitor and quantify the effectiveness of CP of steel in simulated soil. Carbon steel was subjected to electrochemical tests with NS4 solution used as simulated soil conditions for four days before applying CP for further 11 days. A specifically modified voltammetry technique was applied at various time intervals of the experiment to monitor the corrosion behaviour and therefore reflect CP effectiveness. The voltammetry results revealed that the application of CP reduced the corrosion rate from the highest value of 410 µm/yr to 8 µm/yr between days 5 and 14 of the experiments. The microstructural analysis of the steel surface performed using x-ray diffraction identified calcareous deposit as the dominant phase protecting the surface from corrosion. It was deduced that the formation of calcareous deposits was linked with the effectiveness of CP of steel.

Keywords: carbon steel, cathodic protection, NS4 solution, voltammetry, XRD

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Authors: L. Pigon, S. Kot, J. K. Grabara

Abstract:

Nowadays, with organizations facing the challenges of increasing competitiveness, human capital accumulated by the organization is one of the elements that strongly differentiate between companies. Efficient management in the competition area requires to manage the competencies of their employees to be suitable to the market fluctuations. The aim of the paper was to determine how employee training to improve their competencies is verified. The survey was conducted among 37 respondents involved in selection of training providers and training programs in their enterprises. The results showed that all organizations use training survey as a basic method for evaluation of training effectiveness. Depending on the training contents and organization, the questionnaires contain various questions. Most of these surveys are composed of the three basic blocks: the trainer's assessment, the evaluation of the training contents, the assessment of the materials and the place of the organisation. None of the organization surveys conducted regular job-related observations or examined the attitudes of the training participants.

Keywords: human capital, competencies, training effectiveness, sale department

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