Search results for: competitive pricing
1212 Analysis of Cross-Correlations in Emerging Markets Using Random Matrix Theory
Authors: Thomas Chinwe Urama, Patrick Oseloka Ezepue, Peters Chimezie Nnanwa
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This paper investigates the universal financial dynamics in two dominant stock markets in Sub-Saharan Africa, through an in-depth analysis of the cross-correlation matrix of price returns in Nigerian Stock Market (NSM) and Johannesburg Stock Exchange (JSE), for the period 2009 to 2013. The strength of correlations between stocks is known to be higher in JSE than that of the NSM. Particularly important for modelling Nigerian derivatives in the future, the interactions of other stocks with the oil sector are weak, whereas the banking sector has strong positive interactions with the other sectors in the stock exchange. For the JSE, it is the oil sector and beverages that have greater sectorial correlations, instead of the banks which have the weaker correlation with other sectors in the stock exchange.Keywords: random matrix theory, cross-correlations, emerging markets, option pricing, eigenvalues eigenvectors, inverse participation ratios and implied volatility
Procedia PDF Downloads 3021211 Optimal Policies in a Two-Level Supply Chain with Defective Product and Price Dependent Demand
Authors: Samira Mohabbatdar, Abbas Ahmadi, Mohsen S. Sajadieh
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This paper deals with a two-level supply chain consisted of one manufacturer and one retailer for single-type product. The demand function of the customers depends on price. We consider an integrated production inventory system where the manufacturer processes raw materials in order to deliver finished product with imperfect quality to the retailer. Then retailer inspects the products and after that delivers perfect products to customers. The proposed model is based on the joint total profit of both the manufacturer and the retailer, and it determines the optimal ordering lot-size, number of shipment and selling price of the retailer. A numerical example is provided to analyse and illustrate the behaviour and application of the model. Finally, sensitivity analysis of the key parameters are presented to test feasibility of the model.Keywords: supply chain, pricing policy, defective quality, joint economic lot sizing
Procedia PDF Downloads 3371210 The Reality of E-Commerce in Egypt and Its Role in Enhancing Companies' Competitiveness
Authors: Esam El Gohary
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— The companies’ ability to survive and compete in the fierce competition is determined by its competitiveness level. With the spread of information technology use and appearance of online shopping, it became crucial for companies to adopt e-commerce system to increase its competitiveness. This paper was conducted with the purpose of determine how increasing the service value through e-commerce factors (competitive strategy, ICT infrastructures, logistics, security, human resources and innovation) can enhance companies' competitiveness. The problem of this paper is summarized in the absence of the thorough awareness of e-commerce benefits for business owners and customers, as well as how to reduce the intangibility attributes of e-commerce. For this purpose this paper describes the e-commerce in Egypt and its success factors (infrastructures, legal and regulatory environment, human resources and innovation), as well as displays the barriers of such factor, to investigate the significant of these factors on increasing service value and enhance companies' competitiveness. This paper revealed that e-commerce companies have many opportunities to enhance its competitiveness in Egypt, which is enhanced by several factors. The most important factors are “strong ICT infrastructure, qualified and skilled human resources, in addition to the distinctive logistics that distinguish Egypt due to its location, strong legal and regulatory environment and Innovation, as well as the competitive strategy. As well as, companies encounter several threats such as; the lack of infrastructures and logistics in rural areas, the absence of the inclusive understanding and awareness of e-commerce, fear from e-payment transactions and fraud, the ambiguity and burdensome of customs. Through the research findings several recommendations were introduced to both government and companies to overcome threats and exploit opportunities to improve performance and enhance companies' competitiveness.Keywords: e-commerce competitiveness, e-commerce factors, e-commerce in Egypt, information technology
Procedia PDF Downloads 1051209 An Analysis of Human Resource Management Policies for Constructing Employer Brands in the Logistics Sector
Authors: Müberra Yüksel, Ömer Faruk Görçün
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The purpose of the present study is to investigate the role of strategic human resource management (SHRM) in constructing "employer branding" in logistics. Prior research does not focus on internal stakeholders, that is, employees. Despite the fact that logistic sector has become customer-oriented, the focus is solely on service quality as the unique aspect of logistic companies for competitive advantage. With an increasing interest lately in internal marketing of the employer brand, the emphasis is on the value that human capital brings to the firm which cannot be imitated. `Employer branding` has been the application of branding and relationship marketing principles for competitive advantage in SHRM. Employer branding is an organizing framework for human resource managers since it represents an organization’s efforts to promote, both within and outside, a coherent view of what makes the firm different and desirable as an employer, i.e., the distinct “employer brand personality” and "employee value propositions" (EVP) offered. The presumption of employer branding enhanced by internal marketing is to make customer-conscious employees to handle services better by being aligned with business mission and goals. Starting from internal customers and analyzing the gaps of EVP by using analytical hierarchy process methodology (AHP) and inquiring whether these brand values are communicated and conceived well may be the initial steps in our proposal for employer branding in logistics sector. This empirical study aims to fill this research gap within the context of an emergent market- Turkey, which is located at a hub of transportation and logistics.Keywords: Strategic Human Resource Management (SHRM), employer branding, Employee Value Propositions (EVP), Analytical Hierarchy Process (AHP), logistics
Procedia PDF Downloads 3441208 Technology Road Mapping in the Fourth Industrial Revolution: A Comprehensive Analysis and Strategic Framework
Authors: Abdul Rahman Hamdan
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The Fourth Industrial Revolution (4IR) has brought unprecedented technological advancements that have disrupted many industries worldwide. In keeping up with the technological advances and rapid disruption by the introduction of many technological advancements brought forth by the 4IR, the use of technology road mapping has emerged as one of the critical tools for organizations to leverage. Technology road mapping can be used by many companies to guide them to become more adaptable and anticipate future transformation and innovation, and avoid being redundant or irrelevant due to the rapid changes in technological advancement. This research paper provides a comprehensive analysis of technology road mapping within the context of the 4IR. The objectives of the paper are to provide companies with practical insights and a strategic framework of technology road mapping for them to navigate the fast-changing nature of the 4IR. This study also contributes to the understanding and practice of technology road mapping in the 4IR and, at the same time, provides organizations with the necessary tools and critical insight to navigate the 4IR transformation by leveraging technology road mapping. Based on the literature review and case studies, the study analyses key principles, methodologies, and best practices in technology road mapping and integrates them with the unique characteristics and challenges of the 4IR. The research paper gives the background of the fourth industrial revolution. It explores the disruptive potential of technologies in the 4IR and the critical need for technology road mapping that consists of strategic planning and foresight to remain competitive and relevant in the 4IR era. It also highlights the importance of technology road mapping as an organisation’s proactive approach to align the organisation’s objectives and resources to their technology and product development in meeting the fast-evolving technological 4IR landscape. The paper also includes the theoretical foundations of technology road mapping and examines various methodological approaches, and identifies external stakeholders in the process, such as external experts, stakeholders, collaborative platforms, and cross-functional teams to ensure an integrated and robust technological roadmap for the organisation. Moreover, this study presents a comprehensive framework for technology road mapping in the 4IR by incorporating key elements and processes such as technology assessment, competitive intelligence, risk analysis, and resource allocation. It provides a framework for implementing technology road mapping from strategic planning, goal setting, and technology scanning to road mapping visualisation, implementation planning, monitoring, and evaluation. In addition, the study also addresses the challenges and limitations related to technology roadmapping in 4IR, including the gap analysis. In conclusion of the study, the study will propose a set of practical recommendations for organizations that intend to leverage technology road mapping as a strategic tool in the 4IR in driving innovation and becoming competitive in the current and future ecosystem.Keywords: technology management, technology road mapping, technology transfer, technology planning
Procedia PDF Downloads 701207 Importance-Performance Analysis of Volunteer Tourism in Ethiopia: Host and Guest Case Study
Authors: Zita Fomukong Andam
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With a general objective of evaluating the importance and Performance attributes of Volunteer Tourism in Ethiopia and also specifically intending to rank out the importance to evaluate the competitive performance of Ethiopia to host volunteer tourists, laying them in a four quadrant grid and conduct the IPA Iso-Priority Line comparison of Volunteer Tourism in Ethiopia. From hosts and guests point of view, a deeper research discourse was conducted with a randomly selected 384 guests and 165 hosts in Ethiopia. Findings of the discourse through an exploratory research design on both the hosts and the guests confirm that attributes of volunteer tourism generally and marginally fall in the South East quadrant of the matrix where their importance is relatively higher than their performance counterpart, also referred as ‘Concentrate Here’ quadrant. The fact that there are more items in this particular place in both the host and guest study, where they are highly important, but their relative performance is low, strikes a message that the country has more to do. Another focus point of this study is mapping the scores of attributes regarding the guest and host importance and performance against the Iso-Priority Line. Results of Iso-Priority Line Analysis of the IPA of Volunteer Tourism in Ethiopia from the Host’s Perspective showed that there are no attributes where their importance is exactly the same as their performance. With this being found, the fact that this research design inhabits many characters of exploratory nature, it is not confirmed research output. This paper reserves from prescribing anything to the applied world before further confirmatory research is conducted on the issue and rather calls the scientific community to augment this study through comprehensive, exhaustive, extensive and extended works of inquiry in order to get a refined set of recommended items to the applied world.Keywords: volunteer tourism, competitive performance importance-performance analysis, Ethiopian tourism
Procedia PDF Downloads 2351206 Calendar Anomalies in Islamic Frontier Markets
Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir
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We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets
Procedia PDF Downloads 1671205 Integrating Data Mining within a Strategic Knowledge Management Framework: A Platform for Sustainable Competitive Advantage within the Australian Minerals and Metals Mining Sector
Authors: Sanaz Moayer, Fang Huang, Scott Gardner
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In the highly leveraged business world of today, an organisation’s success depends on how it can manage and organize its traditional and intangible assets. In the knowledge-based economy, knowledge as a valuable asset gives enduring capability to firms competing in rapidly shifting global markets. It can be argued that ability to create unique knowledge assets by configuring ICT and human capabilities, will be a defining factor for international competitive advantage in the mid-21st century. The concept of KM is recognized in the strategy literature, and increasingly by senior decision-makers (particularly in large firms which can achieve scalable benefits), as an important vehicle for stimulating innovation and organisational performance in the knowledge economy. This thinking has been evident in professional services and other knowledge intensive industries for over a decade. It highlights the importance of social capital and the value of the intellectual capital embedded in social and professional networks, complementing the traditional focus on creation of intellectual property assets. Despite the growing interest in KM within professional services there has been limited discussion in relation to multinational resource based industries such as mining and petroleum where the focus has been principally on global portfolio optimization with economies of scale, process efficiencies and cost reduction. The Australian minerals and metals mining industry, although traditionally viewed as capital intensive, employs a significant number of knowledge workers notably- engineers, geologists, highly skilled technicians, legal, finance, accounting, ICT and contracts specialists working in projects or functions, representing potential knowledge silos within the organisation. This silo effect arguably inhibits knowledge sharing and retention by disaggregating corporate memory, with increased operational and project continuity risk. It also may limit the potential for process, product, and service innovation. In this paper the strategic application of knowledge management incorporating contemporary ICT platforms and data mining practices is explored as an important enabler for knowledge discovery, reduction of risk, and retention of corporate knowledge in resource based industries. With reference to the relevant strategy, management, and information systems literature, this paper highlights possible connections (currently undergoing empirical testing), between an Strategic Knowledge Management (SKM) framework incorporating supportive Data Mining (DM) practices and competitive advantage for multinational firms operating within the Australian resource sector. We also propose based on a review of the relevant literature that more effective management of soft and hard systems knowledge is crucial for major Australian firms in all sectors seeking to improve organisational performance through the human and technological capability captured in organisational networks.Keywords: competitive advantage, data mining, mining organisation, strategic knowledge management
Procedia PDF Downloads 4161204 Community Forest Management Practice in Nepal: Public Understanding of Forest Benefit
Authors: Chandralal Shrestha
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In the developing countries like Nepal, the community based forest management approach has often been glorified as one of the best forest management alternatives to maximize the forest benefits. Though the approach has succeeded to construct a local level institution and conserve the forest biodiversity, how the local communities perceived about the forest benefits, the question always remains silent among the researchers and policy makers. The paper aims to explore the understanding of forest benefits from the perspective of local communities who used the forests in terms of institutional stability, equity and livelihood opportunity, and ecological stability. The paper revealed that the local communities have mixed understanding over the forest benefits. The institutional and ecological activities carried out by the local communities indicated that they have better understanding over the forest benefits. However, inequality while sharing the forest benefits, low pricing strategy and its negative consequences in valuation of forest products and limited livelihood opportunities indicated the poor understanding.Keywords: community based forest management, forest benefits, lowland, Nepal
Procedia PDF Downloads 3141203 Theoretical and ML-Driven Identification of a Mispriced Credit Risk
Authors: Yuri Katz, Kun Liu, Arunram Atmacharan
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Due to illiquidity, mispricing on Credit Markets is inevitable. This creates huge challenges to banks and investors as they seek to find new ways of risk valuation and portfolio management in a post-credit crisis world. Here, we analyze the difference in behavior of the spread-to-maturity in investment and high-yield categories of US corporate bonds between 2014 and 2023. Deviation from the theoretical dependency of this measure in the universe under study allows to identify multiple cases of mispriced credit risk. Remarkably, we observe mispriced bonds in both categories of credit ratings. This identification is supported by the application of the state-of-the-art machine learning model in more than 90% of cases. Noticeably, the ML-driven model-based forecasting of a category of bond’s credit ratings demonstrate an excellent out-of-sample accuracy (AUC = 98%). We believe that these results can augment conventional valuations of credit portfolios.Keywords: credit risk, credit ratings, bond pricing, spread-to-maturity, machine learning
Procedia PDF Downloads 811202 Examining the Effects of Ticket Bundling Strategies and Team Identification on Purchase of Hedonic and Utilitarian Options
Authors: Young Ik Suh, Tywan G. Martin
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Bundling strategy is a common marketing practice today. In the past decades, both academicians and practitioners have increasingly emphasized the strategic importance of bundling in today’s markets. The reason for increased interest in bundling strategy is that they normally believe that it can significantly increase profits on organization’s sales over time and it is convenient for the customer. However, little efforts has been made on ticket bundling and purchase considerations in hedonic and utilitarian options in sport consumer behavior context. Consumers often face choices between utilitarian and hedonic alternatives in decision making. When consumers purchase certain products, they are only interested in the functional dimensions, which are called utilitarian dimensions. On the other hand, others focus more on hedonic features such as fun, excitement, and pleasure. Thus, the current research examines how utilitarian and hedonic consumption can vary in typical ticket purchasing process. The purpose of this research is to understand the following two research themes: (1) the differential effect of discount framing on ticket bundling: utilitarian and hedonic options and (2) moderating effect of team identification on ticket bundling. In order to test the research hypotheses, an experimental study using a two-way ANOVA, 3 (team identification: low, medium, and high) X 2 (discount frame: ticket bundle sales with utilitarian product, and hedonic product), with mixed factorial design will be conducted to determine whether there is a statistical significance between purchasing intentions of two discount frames of ticket bundle sales within different team identification levels. To compare mean differences among the two different settings, we will create two conditions of ticket bundles: (1) offering a discount on a ticket ($5 off) if they would purchase it along with utilitarian product (e.g., iPhone8 case, t-shirt, cap), and (2) offering a discount on a ticket ($5 off) if they would purchase it along with hedonic product (e.g., pizza, drink, fans featured on big screen). The findings of the current ticket bundling study are expected to have many theoretical and practical contributions and implications by extending the research and literature pertaining to the relationship between team identification and sport consumer behavior. Specifically, this study can provide a reliable and valid framework to understanding the role of team identification as a moderator on behavioral intentions such as purchase intentions. From an academic perspective, the study will be the first known attempt to understand consumer reactions toward different discount frames related to ticket bundling. Even though the game ticket itself is the major commodity of sport event attendance and significantly related to teams’ revenue streams, most recent ticket pricing research has been done in terms of economic or cost-oriented pricing and not from a consumer psychological perspective. For sport practitioners, this study will also provide significant implications. The result will imply that sport marketers may need to develop two different ticketing promotions for loyal fan and non-loyal fans. Since loyal fans concern ticket price than tie-in products when they see ticket bundle sales, advertising campaign should be more focused on discounting ticket price.Keywords: ticket bundling, hedonic, utilitarian, team identification
Procedia PDF Downloads 1681201 Quality Improvement of the Sand Moulding Process in Foundries Using Six Sigma Technique
Authors: Cindy Sithole, Didier Nyembwe, Peter Olubambi
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The sand casting process involves pattern making, mould making, metal pouring and shake out. Every step in the sand moulding process is very critical for production of good quality castings. However, waste generated during the sand moulding operation and lack of quality are matters that influences performance inefficiencies and lack of competitiveness in South African foundries. Defects produced from the sand moulding process are only visible in the final product (casting) which results in increased number of scrap, reduced sales and increases cost in the foundry. The purpose of this Research is to propose six sigma technique (DMAIC, Define, Measure, Analyze, Improve and Control) intervention in sand moulding foundries and to reduce variation caused by deficiencies in the sand moulding process in South African foundries. Its objective is to create sustainability and enhance productivity in the South African foundry industry. Six sigma is a data driven method to process improvement that aims to eliminate variation in business processes using statistical control methods .Six sigma focuses on business performance improvement through quality initiative using the seven basic tools of quality by Ishikawa. The objectives of six sigma are to eliminate features that affects productivity, profit and meeting customers’ demands. Six sigma has become one of the most important tools/techniques for attaining competitive advantage. Competitive advantage for sand casting foundries in South Africa means improved plant maintenance processes, improved product quality and proper utilization of resources especially scarce resources. Defects such as sand inclusion, Flashes and sand burn on were some of the defects that were identified as resulting from the sand moulding process inefficiencies using six sigma technique. The courses were we found to be wrong design of the mould due to the pattern used and poor ramming of the moulding sand in a foundry. Six sigma tools such as the voice of customer, the Fishbone, the voice of the process and process mapping were used to define the problem in the foundry and to outline the critical to quality elements. The SIPOC (Supplier Input Process Output Customer) Diagram was also employed to ensure that the material and process parameters were achieved to ensure quality improvement in a foundry. The process capability of the sand moulding process was measured to understand the current performance to enable improvement. The Expected results of this research are; reduced sand moulding process variation, increased productivity and competitive advantage.Keywords: defects, foundries, quality improvement, sand moulding, six sigma (DMAIC)
Procedia PDF Downloads 1951200 Quantifying Fatigue during Periods of Intensified Competition in Professional Ice Hockey Players: Magnitude of Fatigue in Selected Markers
Authors: Eoin Kirwan, Christopher Nulty, Declan Browne
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The professional ice hockey season consists of approximately 60 regular season games with periods of fixture congestion occurring several times in the average season. These periods of congestion provide limited time for recovery, exposing the athletes to the risk of competing whilst not fully recovered. Although a body of research is growing with respect to monitoring fatigue, particularly during periods of congested fixtures in team sports such as rugby and soccer, it has received little to no attention thus far in ice hockey athletes. Consequently, there is limited knowledge on monitoring tools that might effectively detect a fatigue response and the magnitude of fatigue that can accumulate when recovery is limited by competitive fixtures. The benefit of quantifying and establishing fatigue status is the ability to optimise training and provide pertinent information on player health, injury risk, availability and readiness. Some commonly used methods to assess fatigue and recovery status of athletes include the use of perceived fatigue and wellbeing questionnaires, tests of muscular force and ratings of perceive exertion (RPE). These measures are widely used in popular team sports such as soccer and rugby and show promise as assessments of fatigue and recovery status for ice hockey athletes. As part of a larger study, this study explored the magnitude of changes in adductor muscle strength after game play and throughout a period of fixture congestion and examined the relationship between internal game load and perceived wellbeing with adductor muscle strength. Methods 8 professional ice hockey players from a British Elite League club volunteered to participate (age = 29.3 ± 2.49 years, height = 186.15 ± 6.75 cm, body mass = 90.85 ± 8.64 kg). Prior to and after competitive games each player performed trials of the adductor squeeze test at 0˚ hip flexion with the lead investigator using hand-held dynamometry. Rate of perceived exertion was recorded for each game and from data of total ice time individual session RPE was calculated. After each game players completed a 5- point questionnaire to assess perceived wellbeing. Data was collected from six competitive games, 1 practice and 36 hours post the final game, over a 10 – day period. Results Pending final data collection in February Conclusions Pending final data collection in February.Keywords: Conjested fixtures, fatigue monitoring, ice hockey, readiness
Procedia PDF Downloads 1441199 Preference Aggregation and Mechanism Design in the Smart Grid
Authors: Zaid Jamal Saeed Almahmoud
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Smart Grid is the vision of the future power system that combines advanced monitoring and communication technologies to provide energy in a smart, efficient, and user-friendly manner. This proposal considers a demand response model in the Smart Grid based on utility maximization. Given a set of consumers with conflicting preferences in terms of consumption and a utility company that aims to minimize the peak demand and match demand to supply, we study the problem of aggregating these preferences while modelling the problem as a game. We also investigate whether an equilibrium can be reached to maximize the social benefit. Based on such equilibrium, we propose a dynamic pricing heuristic that computes the equilibrium and sets the prices accordingly. The developed approach was analysed theoretically and evaluated experimentally using real appliances data. The results show that our proposed approach achieves a substantial reduction in the overall energy consumption.Keywords: heuristics, smart grid, aggregation, mechanism design, equilibrium
Procedia PDF Downloads 1161198 How to Use Big Data in Logistics Issues
Authors: Mehmet Akif Aslan, Mehmet Simsek, Eyup Sensoy
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Big Data stands for today’s cutting-edge technology. As the technology becomes widespread, so does Data. Utilizing massive data sets enable companies to get competitive advantages over their adversaries. Out of many area of Big Data usage, logistics has significance role in both commercial sector and military. This paper lays out what big data is and how it is used in both military and commercial logistics.Keywords: big data, logistics, operational efficiency, risk management
Procedia PDF Downloads 6421197 Public Procurement Development Stages in Georgia
Authors: Giorgi Gaprindashvili
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One of the best examples, in evolution of the public procurement, from post-soviet countries are reforms carried out in Georgia, which brought them close to international standards of procurement. In Georgia, public procurement legislation started functioning in 1998. The reform has passed several stages and came in the form as it is today. It should also be noted, that countries with economy in transition, including Georgia, implemented all the reforms in public procurement based on recommendations and support of World Bank, the United Nations and other international organizations. The first law on public procurement in Georgia was adopted on December 9, 1998 which aimed regulation of the procurement process of budget-organizations, transparent and competitive environment for private companies to access state funds legally. The priorities were identified quite clearly in the wording of the law, but operation/function of this law could not be reached on its level, because of some objective and subjective reasons. The high level of corruption in all levels of governance, can be considered as a main obstacle reason and of course, it is natural, that it had direct impact on the procurement process, as well as on transparency and rational use of state funds. This circumstances were the reasons that reforms in this sphere continued, to improve procurement process, in particular, the first wave of reforms began in 2001. Public procurement agency carried out reform with World Bank with main purpose of smartening the procurement legislation and its harmonization with international treaties and agreements. Also with the support of World Bank various activities were carried out to raise awareness of participants involved in procurement system. Further major changes in the legislation were filed in May 2005, which was also directed towards the improvement and smarten of the procurement process. The third wave of the reform began in 2010, which more or less guaranteed the transparency of the procurement process, which later became the basis for the rational spending of state funds. The reform of the procurement system completely changed the procedures. Carried out reform in Georgia resulted in introducing new electronic tendering system, which benefit the transparency of the process, after this became the basis for the further development of a competitive environment, which become a prerequisite for the state rational spending. Increased number of supplier organizations participating in the procurement process resulted in reduction of the estimated cost and the actual cost from 20% up to 40%, it is quite large saving for the procuring organizations and allows them to use the freed-up funds for their other needs. Assessment of the reforms in Georgia in the field of public procurement can be concluded, that proper regulation of the sector and relevant policy may proceed to rational and transparent spending of the budget from country’s state institutions. Also, the business sector has the opportunity to work in competitive market conditions and to make a preliminary analysis, which is a prerequisite for future strategy and development.Keywords: public administration, public procurement, reforms, transparency
Procedia PDF Downloads 3691196 Research on the Construction of Fair Use of Copyright and Compensation System for Artificial Intelligence Creation
Authors: Shen Xiaoyun
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The AI-generated works must intersect with the right holder’s work, thus having a certain impact on the rights and interests of the right holder’s work. The law needs to explore and improve the regulation of the fair use of AI creations and build a compensation system to adapt to the development of the times. The development of AI technology has brought about problems such as the unclear relationship between fair use and infringement of copyright, the unclear general terms and conditions of application, and the incomplete criteria for judging at different stages. Through different theoretical methods, the legitimacy of the rational use of the system can be demonstrated. The compensation standard for fair use of copyright in AI creation can refer to the market pricing of the right holder's work, and the compensation can construct a formula for the amount of damages for AI copyright infringement, and construct the compensation standard based on the main factors affecting the market value of the work, so as to provide a reference for the construction of a compensation system for fair use of works generated by AI.Keywords: artificial intelligence, creative acts, fair use of copyright, copyright compensation system
Procedia PDF Downloads 271195 An Assessment of Inland Transport Operator's Competitiveness in Phnom Penh, Cambodia
Authors: Savin Phoeun
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Long time civil war, economic, infrastructure, social, and political structure were destroyed and everything starts from zero. Transport and communication are the key feature of the national economic growth, especially inland transport and other mode take a complementary role which supported by government and international organization both direct and indirect to private sector and small and medium size enterprises. The objectives of this study are to study the general characteristics, capacity and competitive KPIs of Cambodian Inland Transport Operators. Questionnaire and interview were formed from capacity and competitiveness key performance indicators to take apart in survey to Inland Transport Companies in Phnom Penh capital city of Cambodia. And descriptive statistics was applied to identify the data. The result of this study divided into three distinct sectors: 1). Management ability of transport operators – capital management, financial and qualification are in similar level which can compete between local competitors (moderated level). 2). Ability in operation: customer service providing is better but seemed in high cost operation because mostly they are in family size. 3). Local Cambodian Inland Transport Service Providers are able to compete with each other because they are in similar operation level while Thai competitors mostly higher than. The suggestion and recommendation from the result that inland transport companies should access to new technology, improve strategic management, build partnership (join/corporate) to be bigger size of capital and company in order to attract truthfulness from customers and customize the services to satisfy. Inland Service Providers should change characteristic from only cost competitive to cost saving and service enhancement.Keywords: assessment, competitiveness, inland transport, operator
Procedia PDF Downloads 2631194 Entrepreneurial Orientation and Innovation Outcomes in Ghanaian Social Enterprises: Interaction Effect of Organizational Unlearning
Authors: Stephen Oduro
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With a quantitative research design, this study seeks to analyze how, an intangible resource, Organisational Unlearning shapes the relationship between Entrepreneurial Orientation (EO) and Innovation Outcomes among social entrepreneurship organizations in Ghana. The Resource-Based View (RBV) of the firm and EO-Performance Contingency framework was adopted as the underpinning theories of the study. Entrepreneurial Orientation dimensions, namely Innovativeness, Autonomy, Risk-Taking, Proactiveness, and Competitive aggressiveness were examined to determine its significant, direct influence on the Innovation Outcomes of the social enterprises in Ghana. Organizational Unlearning dimensions, specifically examination of lens fitting, the consolidation of emergent understandings, and framework for changing individual habits were explored to determine whether they strengthen or weaken the direct nexus between Entrepreneurial Orientation dimensions and Innovation Outcomes. A self-administered questionnaire was administered to 556 targeted social enterprises across Africa through online questionnaire platform and the data generated and proposed hypotheses were analyzed and tested using Structural Equation Model-Partial Least Square (SEM-PLS 3) statistical tool. The findings revealed that EO dimensions, specifically proactiveness, autonomy, innovativeness, and risk-taking are positively related to IO, but we found no significant support for competitive aggressiveness. The findings, moreover, divulged that the positive, direct relationship between EO and IO is highly strengthened by OU. It is concluded that OU fully moderates the direct link between EO and IO. The present study contributes to the our understanding of the interrelationship among Entrepreneurial Orientation, Organizational Unlearning, and Innovation Outcomes in the social entrepreneurship context.Keywords: entrepreneurial orientation, innovation outcomes, organizational unlearning, RBV, SEM-PLS, social enterprise, Africa
Procedia PDF Downloads 1431193 Globalisation and the Resulting Labour Exploitation in Business Operations and Supply Chains
Authors: Akilah A. Jardine
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The integration and expansion of the global economy have indeed brought about a number of positive changes such as access to new goods and services and the opportunity for individuals and businesses to migrate, communicate, and work globally. Nevertheless, the interconnectedness of world economies is not without its negative and shameful side effects. The subsequent overabundance of goods and services has resulted in heightened competition among firms and their supply chains, fuelling the exploitation of impoverished and vulnerable individuals who are unable to equally salvage from the benefits of the integrated economy. To maintain their position in a highly competitive arena, the operations of many businesses have adopted unethical and unscrupulous practices to maximise profit, often targeting the most marginalised members of society. Simultaneously, in a consumerist obsessed society preoccupied with the consumption and accumulation of material wealth, the demand for goods and services greatly contributes to the pressure on firms, thus bolstering the exploitation of labour. This paper aims to examine the impact of business operations on the practice of labour exploitation. It explores corrupt business practices that firms adopt and key labour exploitative conditions outlined by the International Labour Organization, particularly, paying workers low wages, forcing individuals to work in abusive and unsafe conditions, and considers the issue regarding individuals’ consent to exploitative environments. Further, it considers the role of consumers in creating the high demand for goods and services, which in turn fosters the exploitation of labour. This paper illustrates that the practice of labour exploitation in the economy is a by-product of both global competitive business operations and heightened consumer consumption.Keywords: globalisation, labour exploitation, modern slavery, sweatshops, unethical business practices
Procedia PDF Downloads 1441192 An Exploratory Study of Potential Cruisers Preferences Using Choice Experiment and Latent Class Modelling
Authors: Renuka Mahadevan, Sharon Chang
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This exploratory study is based on potential cruisers’ monetary valuation of cruise attributes. Using choice experiment, monetary trade-offs between four different cruise attributes are examined with Australians as a case study. We found 50% of the sample valued variety of onboard cruise activities the least while 30% were willing to pay A$87 for cruise-organised activities per day, and the remaining 20% regarded an ocean view to be most valuable at A$125. Latent class modelling was then applied and results revealed that potential cruisers’ valuation of the attributes can be used to segment the market into adventurers, budget conscious and comfort lovers. Evidence showed that socio demographics are not as insightful as lifestyle preferences in developing cruise packages and pricing that would appeal to potential cruisers. Marketing also needs to counter the mindset of potential cruisers’ belief that cruises are often costly and that cruising can be done later in life.Keywords: latent class modelling, choice experiment, potential cruisers, market segmentation, willingness to pay
Procedia PDF Downloads 821191 Economic Valuation of Emissions from Mobile Sources in the Urban Environment of Bogotá
Authors: Dayron Camilo Bermudez Mendoza
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Road transportation is a significant source of externalities, notably in terms of environmental degradation and the emission of pollutants. These emissions adversely affect public health, attributable to criteria pollutants like particulate matter (PM2.5 and PM10) and carbon monoxide (CO), and also contribute to climate change through the release of greenhouse gases, such as carbon dioxide (CO2). It is, therefore, crucial to quantify the emissions from mobile sources and develop a methodological framework for their economic valuation, aiding in the assessment of associated costs and informing policy decisions. The forthcoming congress will shed light on the externalities of transportation in Bogotá, showcasing methodologies and findings from the construction of emission inventories and their spatial analysis within the city. This research focuses on the economic valuation of emissions from mobile sources in Bogotá, employing methods like hedonic pricing and contingent valuation. Conducted within the urban confines of Bogotá, the study leverages demographic, transportation, and emission data sourced from the Mobility Survey, official emission inventories, and tailored estimates and measurements. The use of hedonic pricing and contingent valuation methodologies facilitates the estimation of the influence of transportation emissions on real estate values and gauges the willingness of Bogotá's residents to invest in reducing these emissions. The findings are anticipated to be instrumental in the formulation and execution of public policies aimed at emission reduction and air quality enhancement. In compiling the emission inventory, innovative data sources were identified to determine activity factors, including information from automotive diagnostic centers and used vehicle sales websites. The COPERT model was utilized to ascertain emission factors, requiring diverse inputs such as data from the national transit registry (RUNT), OpenStreetMap road network details, climatological data from the IDEAM portal, and Google API for speed analysis. Spatial disaggregation employed GIS tools and publicly available official spatial data. The development of the valuation methodology involved an exhaustive systematic review, utilizing platforms like the EVRI (Environmental Valuation Reference Inventory) portal and other relevant sources. The contingent valuation method was implemented via surveys in various public settings across the city, using a referendum-style approach for a sample of 400 residents. For the hedonic price valuation, an extensive database was developed, integrating data from several official sources and basing analyses on the per-square meter property values in each city block. The upcoming conference anticipates the presentation and publication of these results, embodying a multidisciplinary knowledge integration and culminating in a master's thesis.Keywords: economic valuation, transport economics, pollutant emissions, urban transportation, sustainable mobility
Procedia PDF Downloads 591190 Mental Imagery as an Auxiliary Tool to the Performance of Elite Competitive Swimmers of the University of the East Manila
Authors: Hillary Jo Muyalde
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Introduction: Elite athletes train regularly to enhance their physical endurance, but sometimes, training sessions are not enough. When competition comes, these athletes struggle to find focus. Mental imagery is a psychological technique that helps condition the mind to focus and eventually help improve performance. This study aims to help elite competitive swimmers of the University of the East improve their performance with Mental Imagery as an auxiliary tool. Methodology: The study design used was quasi-experimental with a purposive sampling technique and a within-subject design. It was conducted with a total of 41 participants. The participants were given a Sport Imagery Ability Questionnaire (SIAQ) to measure imagery ability and the Mental Imagery Program. The study utilized a Paired T-test for data analysis where the participants underwent six weeks of no mental imagery training and were compared to six weeks with the Mental Imagery Program (MIP). The researcher recorded the personal best time of participants in their respective specialty stroke. Results: The results of the study showed a t-value of 17.804 for Butterfly stroke events, 9.922 for Backstroke events, 7.787 for Breaststroke events, and 17.440 in Freestyle. This indicated that MIP had a positive effect on participants’ performance. The SIAQ result also showed a big difference where -10.443 for Butterfly events, -5.363 for Backstroke, -7.244 for Breaststroke events, and -10.727 for Freestyle events, which meant the participants were able to image better than before MIP. Conclusion: In conclusion, the findings of this study showed that there is indeed an improvement in the performance of the participants after the application of the Mental Imagery Program. It is recommended from this study that the participants continue to use mental imagery as an auxiliary tool to their training regimen for continuous positive results.Keywords: mental Imagery, personal best time, SIAQ, specialty stroke
Procedia PDF Downloads 801189 Competitor Analysis to Quantify the Benefits and for Different Use of Transport Infrastructure
Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki
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Different transportation modes have key operational advantages and disadvantages, providing a variety of different transport options to users and passengers. This paper reviews key variables for the competition between air transport and other transport modes. The aim of this paper is to review the competition between air transport and other transport modes, providing results in terms of perceived cost for the users, for destinations high competitiveness for all transport modes. The competitor analysis variables include the cost and time outputs for each transport option, highlighting the level of competitiveness on high demanded Origin-Destination corridors. The case study presents the output of a such analysis for the OD corridor in Greece that connects the Capital city (Athens) with the second largest city (Thessaloniki) and the different transport modes have been considered (air, train, road). Conventional wisdom is to present an easy to handle tool for planners, managers and decision makers towards pricing policy effectiveness and demand attractiveness, appropriate to use for other similar cases.Keywords: competitor analysis, transport economics, transport generalized cost, quantitative modelling
Procedia PDF Downloads 2481188 Analyzing Strategic Alliances of Museums: The Case of Girona (Spain)
Authors: Raquel Camprubí
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Cultural tourism has been postulated as relevant motivation for tourist over the world during the last decades. In this context, museums are the main attraction for cultural tourists who are seeking to connect with the history and culture of the visited place. From the point of view of an urban destination, museums and other cultural resources are essential to have a strong tourist supply at the destination, in order to be capable of catching attention and interest of cultural tourists. In particular, museums’ challenge is to be prepared to offer the best experience to their visitors without to forget their mission-based mainly on protection of its collection and other social goals. Thus, museums individually want to be competitive and have good positioning to achieve their strategic goals. The life cycle of the destination and the level of maturity of its tourism product influence the need of tourism agents to cooperate and collaborate among them, in order to rejuvenate their product and become more competitive as a destination. Additionally, prior studies have considered an approach of different models of a public and private partnership, and collaborative and cooperative relations developed among the agents of a tourism destination. However, there are no studies that pay special attention to museums and the strategic alliances developed to obtain mutual benefits. Considering this background, the purpose of this study is to analyze in what extent museums of a given urban destination have established strategic links and relations among them, in order to improve their competitive position at both individual and destination level. In order to achieve the aim of this study, the city of Girona (Spain) and the museums located in this city are taken as a case study. Data collection was conducted using in-depth interviews, in order to collect all the qualitative data related to nature, strengthen and purpose of the relational ties established among the museums of the city or other relevant tourism agents of the city. To conduct data analysis, a Social Network Analysis (SNA) approach was taken using UCINET software. Position of the agents in the network and structure of the network was analyzed, and qualitative data from interviews were used to interpret SNA results. Finding reveals the existence of strong ties among some of the museums of the city, particularly to create and promote joint products. Nevertheless, there were detected outsiders who have an individual strategy, without collaboration and cooperation with other museums or agents of the city. Results also show that some relational ties have an institutional origin, while others are the result of a long process of cooperation with common projects. Conclusions put in evidence that collaboration and cooperation of museums had been positive to increase the attractiveness of the museum and the city as a cultural destination. Future research and managerial implications are also mentioned.Keywords: cultural tourism, competitiveness, museums, Social Network analysis
Procedia PDF Downloads 1181187 Manipulating The PAAR Proteins of Acinetobacter Baumannii
Authors: Irene Alevizos, Jessica Lewis, Marina Harper, John Boyce
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Acinetobacter baumannii causes a range of severe nosocomial-acquired infections, and many strains are multi-drug resistant. A. baumannii possesses survival mechanisms allowing it to thrive in competitive polymicrobial environments, including a Type VI Secretion System (T6SS) that injects effector proteins into other bacteria to give a competitive advantage. The effects of T6SS firing are broad and depend entirely on the effector that is delivered. Effects can include toxicity against prokaryotic or eukaryotic cells and the acquisition of essential nutrients. The T6SS of some species can deliver ‘specialised effectors’ that are fused directly to T6SS components, such as PAAR proteins. PAAR proteins are predicted to form the piercing tip of the T6SS and are essential for T6SS function. Although no specialised effectors have been identified in A. baumannii, many strains encode multiple PAAR proteins. Analysis of PAAR proteins across the species identified 12 families of PAAR proteins with distinct C-terminal extensions. A. baumannii AB307-0294 encodes two PAAR proteins, one of which has a C-terminal extension. Mutation of one or both of the PAAR-encoding genes in this strain showed that expression of either PAAR protein was sufficient for T6SS function. We employed a heterologous expression approach and determined that PAAR proteins from different A. baumannii strains, as well as the closely related A. baylyi species, could complement the A. baumannii ∆paar mutant and restore T6SS function. Furthermore, we showed that PAAR fusions could be used to deliver artificially cloned protein fragments by generating Histidine- and Streptavidin- tagged PAAR specialised effectors, which restored T6SS activity. This provides evidence that the fusion of protein fragments onto PAAR proteins in A. baumannii is compatible with a functional T6SS. Successful delivery by this mechanism extends the scope of what the T6SS can deliver, including user designed proteins.Keywords: A. baumannii, effectors, PAAR, T6SS
Procedia PDF Downloads 971186 Valuation of Caps and Floors in a LIBOR Market Model with Markov Jump Risks
Authors: Shih-Kuei Lin
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The characterization of the arbitrage-free dynamics of interest rates is developed in this study under the presence of Markov jump risks, when the term structure of the interest rates is modeled through simple forward rates. We consider Markov jump risks by allowing randomness in jump sizes, independence between jump sizes and jump times. The Markov jump diffusion model is used to capture empirical phenomena and to accurately describe interest jump risks in a financial market. We derive the arbitrage-free model of simple forward rates under the spot measure. Moreover, the analytical pricing formulas for a cap and a floor are derived under the forward measure when the jump size follows a lognormal distribution. In our empirical analysis, we find that the LIBOR market model with Markov jump risk better accounts for changes from/to different states and different rates.Keywords: arbitrage-free, cap and floor, Markov jump diffusion model, simple forward rate model, volatility smile, EM algorithm
Procedia PDF Downloads 4211185 Development and Evaluation of Virtual Basketball Game Using Motion Capture Technology
Authors: Shunsuke Aoki, Taku Ri, Tatsuya Yamazaki
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These days, along with the development of e-sports, video games as a competitive sport is attracting attention. But, in many cases, action in the screen does not match the real motion of operation. Inclusiveness of player motion is needed to increase reality and excitement for sports games. Therefore, in this study, the authors propose a method to recognize player motion by using the motion capture technology and develop a virtual basketball game. The virtual basketball game consists of a screen with nine targets, players, depth sensors, and no ball. The players pretend a two-handed basketball shot without a ball aiming at one of the nine targets on the screen. Time-series data of three-dimensional coordinates of player joints are captured by the depth sensor. 20 joints data are measured for each player to estimate the shooting motion in real-time. The trajectory of the thrown virtual ball is calculated based on the time-series data and hitting on the target is judged as success or failure. The virtual basketball game can be played by 2 to 4 players as a competitive game among the players. The developed game was exhibited to the public for evaluation on the authors' university open campus days. 339 visitors participated in the exhibition and enjoyed the virtual basketball game over the two days. A questionnaire survey on the developed game was conducted for the visitors who experienced the game. As a result of the survey, about 97.3% of the players found the game interesting regardless of whether they had experienced actual basketball before or not. In addition, it is found that women are easy to comfort for shooting motion. The virtual game with motion capture technology has the potential to become a universal entertainment between e-sports and actual sports.Keywords: basketball, motion capture, questionnaire survey, video ga
Procedia PDF Downloads 1271184 Strategic Alliances and Creative Synergy within European Union: A Theoretical Perspective
Authors: Maha Tichetti, Barzi Redouane, Selim Kanat
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In the European Union (EU), where economic, political, and cultural ties converge, strategic alliances play a pivotal role in shaping the collaborative landscape. This paper embarks on a journey into the EuroSphere, offering a comprehensive analysis review that unravels the dynamics of these alliances within the European context. The focus is specifically directed towards understanding their profound impact on creative synergy and innovation among teams. In our analysis, we provide theoretical explanations for key terms such as "creative synergy" and "strategic alliances." We outline various types of competitive strategies, delve into the motivations prompting the formation of strategic alliances, and critically examine the success and failure factors in these kinds of collaboration. Additionally, we explore the goals achievable through strategic alliances, especially in the context of external growth. A central focus of this paper focus on how strategic alliances can significantly impact creative synergy within the European landscape. Through a theoretical lens, we explore the interplay between collaborative strategies and the enhancement of creative thinking within teams engaged in strategic alliances. The article goes beyond theoretical frameworks to present a tangible example of a strategic alliance emerging in the European market. This case study illuminates how such alliances have empowered European companies to enhance their competitive positions on the global stage while concurrently fostering creative synergy among their teams. This comprehensive review not only contributes to the theoretical understanding of strategic alliances and creative synergy but also offers practical insights for businesses navigating the collaborative landscape within the EuroSphere. As we unravel the complexities of these alliances, we uncover valuable lessons and opportunities for future research, providing a roadmap for those seeking to harness the full potential of strategic collaborations in the dynamic European context.Keywords: European Union, strategic alliances, creative synergy, competitiveness
Procedia PDF Downloads 671183 Numerical Simulation of Wishart Diffusion Processes
Authors: Raphael Naryongo, Philip Ngare, Anthony Waititu
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This paper deals with numerical simulation of Wishart processes for a single asset risky pricing model whose volatility is described by Wishart affine diffusion processes. The multi-factor specification of volatility will make the model more flexible enough to fit the stock market data for short or long maturities for better returns. The Wishart process is a stochastic process which is a positive semi-definite matrix-valued generalization of the square root process. The aim of the study is to model the log asset stock returns under the double Wishart stochastic volatility model. The solution of the log-asset return dynamics for Bi-Wishart processes will be obtained through Euler-Maruyama discretization schemes. The numerical results on the asset returns are compared to the existing models returns such as Heston stochastic volatility model and double Heston stochastic volatility modelKeywords: euler schemes, log-asset return, infinitesimal generator, wishart diffusion affine processes
Procedia PDF Downloads 379