Search results for: adaptable business models
8979 Re-Invent Corporate Governance - Ethical Way
Authors: Talha Sareshwala
Abstract:
The purpose of this research paper is to help entrepreneurs build an environment of trust, transparency and accountability necessary for fostering long term investment, financial stability and business integrity and to guide future Entrepreneurs into a promising future. The study presents a broader review on Corporate Governance, starting from its definition and antecedents. This is the most important aspect of ethical business. In fact, the 3 main pillars of corporate governance are: Transparency; Accountability; Security. The combination of these 3 pillars in running a company successfully and forming solid professional relationships among its stakeholders, which includes key managerial employees and, most important, the shareholders This paper is sharing an experience how an entrepreneur can act as a catalyst while ensuring them that ethics and transparency do pay in business when followed in true spirit and action.Keywords: business, entrepreneur, ethics, governance, transparency.
Procedia PDF Downloads 638978 Potential of Comparative Management and Aspects of Its Application in Georgia
Authors: Evgeni Baratashvili, Nino Pailodze, Ana Bolkvadze, Giorgi Sulashvili
Abstract:
At the present stage in our country intensifies cooperation with different business cultures, actively developing the process of implementation of Georgia in the global business system that requires us to develop a specific concept, including in the field of management. With the entry of Georgia into the international community, exchange of experience will only intensify. It is clear that the achievement of goals such as the doubling of the National Product increase the competitiveness of Georgian enterprises can’t be recorded without foreign management experience. On the other hand, knowledge of the areas of comparative management can be used in the process of choosing the path of socio-economic development of Georgia.Keywords: business cultures, comparative management, corporate culture, Georgian business, Anglo-Saxon model, Georgian civilization, anti-capitalist mentality, culture management
Procedia PDF Downloads 4648977 Shock Compressibility of Iron Alloys Calculated in the Framework of Quantum-Statistical Models
Authors: Maxim A. Kadatskiy, Konstantin V. Khishchenko
Abstract:
Iron alloys are widespread components in various types of structural materials which are exposed to intensive thermal and mechanical loads. Various quantum-statistical cell models with the approximation of self-consistent field can be used for the prediction of the behavior of these materials under extreme conditions. The application of these models is even more valid, the higher the temperature and the density of matter. Results of Hugoniot calculation for iron alloys in the framework of three quantum-statistical (the Thomas–Fermi, the Thomas–Fermi with quantum and exchange corrections and the Hartree–Fock–Slater) models are presented. Results of quantum-statistical calculations are compared with results from other reliable models and available experimental data. It is revealed a good agreement between results of calculation and experimental data for terra pascal pressures. Advantages and disadvantages of this approach are shown.Keywords: alloy, Hugoniot, iron, terapascal pressure
Procedia PDF Downloads 3348976 Urban Forest Innovation Lab as a Driver to Boost Forest Bioeconomy
Authors: Carmen Avilés Palacios, Camilo Muñoz Arenas, Joaquín García Alfonso, Jesús González Arteaga, Alberto Alcalde Calonge
Abstract:
There is a need for review of the consumption and production models of industrialized states in accordance with the Paris Agreement and the Sustainable Development Goals (1) (OECD, 2016). This constitutes the basis of the bioeconomy (2) that is focused on striking a balance between economic development, social development and environmental protection. Bioeconomy promotes the adequate use and consumption of renewable natural resources (3) and involves developing new products and services adapted to the principles of circular economy: more sustainable (reusable, biodegradable, renewable and recyclable) and with a lower carbon footprint (4). In this context, Urban Forest Innovation Lab (UFIL) grows, an Urban Laboratory for experimentation focused on promoting entrepreneurship in forest bioeconomy (www.uiacuenca.es). UFIL generates local wellness taking sustainable advantage of an endogenous asset, forests. UFIL boosts forest bioeconomy opening its doors of knowledge to pioneers in this field, giving the opportunity to be an active part of a change in the way of understanding the exploitation of natural resources, discovering business, learning strategies and techniques and incubating business ideas So far now, 100 entrepreneurs are incubating their nearly 30 new business plans. UFIL has promoted an ecosystem to connect the rural-urban world that promotes sustainable rural development around the forest.Keywords: bioeconomy, forestry, innovation, entrepreneurship
Procedia PDF Downloads 1098975 Allometric Models for Biomass Estimation in Savanna Woodland Area, Niger State, Nigeria
Authors: Abdullahi Jibrin, Aishetu Abdulkadir
Abstract:
The development of allometric models is crucial to accurate forest biomass/carbon stock assessment. The aim of this study was to develop a set of biomass prediction models that will enable the determination of total tree aboveground biomass for savannah woodland area in Niger State, Nigeria. Based on the data collected through biometric measurements of 1816 trees and destructive sampling of 36 trees, five species specific and one site specific models were developed. The sample size was distributed equally between the five most dominant species in the study site (Vitellaria paradoxa, Irvingia gabonensis, Parkia biglobosa, Anogeissus leiocarpus, Pterocarpus erinaceous). Firstly, the equations were developed for five individual species. Secondly these five species were mixed and were used to develop an allometric equation of mixed species. Overall, there was a strong positive relationship between total tree biomass and the stem diameter. The coefficient of determination (R2 values) ranging from 0.93 to 0.99 P < 0.001 were realised for the models; with considerable low standard error of the estimates (SEE) which confirms that the total tree above ground biomass has a significant relationship with the dbh. The F-test value for the biomass prediction models were also significant at p < 0.001 which indicates that the biomass prediction models are valid. This study recommends that for improved biomass estimates in the study site, the site specific biomass models should preferably be used instead of using generic models.Keywords: allometriy, biomass, carbon stock , model, regression equation, woodland, inventory
Procedia PDF Downloads 4398974 Using Reservoir Models for Monitoring Geothermal Surface Features
Authors: John P. O’Sullivan, Thomas M. P. Ratouis, Michael J. O’Sullivan
Abstract:
As the use of geothermal energy grows internationally more effort is required to monitor and protect areas with rare and important geothermal surface features. A number of approaches are presented for developing and calibrating numerical geothermal reservoir models that are capable of accurately representing geothermal surface features. The approaches are discussed in the context of cases studies of the Rotorua geothermal system and the Orakei-korako geothermal system, both of which contain important surface features. The results show that models are able to match the available field data accurately and hence can be used as valuable tools for predicting the future response of the systems to changes in use.Keywords: geothermal reservoir models, surface features, monitoring, TOUGH2
Procedia PDF Downloads 3998973 Homogeneity among Diversity
Authors: Yu Guang
Abstract:
“Case studies are the preferred strategy when ‘how’ or ‘why’ questions are being posed.” Therefore, the study is based on two cases: strategy performed in JingNan War and by NIKE. The two samples are chosen as they are of comparability. Data are gathered and PEST and SWOT are used as analysis models to examine their strategic employment in order that the answer to brilliant strategies in variety is found. The niche strategy has been used in the past and present, in the battle fields and business. The homogeneity among diversity is the skill of performing strategies.Keywords: challenger, homogeneity, managing diversity, niche strategy
Procedia PDF Downloads 5168972 Modelling the Dynamics of Corporate Bonds Spreads with Asymmetric GARCH Models
Authors: Sélima Baccar, Ephraim Clark
Abstract:
This paper can be considered as a new perspective to analyse credit spreads. A comprehensive empirical analysis of conditional variance of credit spreads indices is performed using various GARCH models. Based on a comparison between traditional and asymmetric GARCH models with alternative functional forms of the conditional density, we intend to identify what macroeconomic and financial factors have driven daily changes in the US Dollar credit spreads in the period from January 2011 through January 2013. The results provide a strong interdependence between credit spreads and the explanatory factors related to the conditions of interest rates, the state of the stock market, the bond market liquidity and the exchange risk. The empirical findings support the use of asymmetric GARCH models. The AGARCH and GJR models outperform the traditional GARCH in credit spreads modelling. We show, also, that the leptokurtic Student-t assumption is better than the Gaussian distribution and improves the quality of the estimates, whatever the rating or maturity.Keywords: corporate bonds, default risk, credit spreads, asymmetric garch models, student-t distribution
Procedia PDF Downloads 4658971 Regional Adjustment to the Analytical Attenuation Coefficient in the GMPM BSSA 14 for the Region of Spain
Authors: Gonzalez Carlos, Martinez Fransisco
Abstract:
There are various types of analysis that allow us to involve seismic phenomena that cause strong requirements for structures that are designed by society; one of them is a probabilistic analysis which works from prediction equations that have been created based on metadata seismic compiled in different regions. These equations form models that are used to describe the 5% damped pseudo spectra response for the various zones considering some easily known input parameters. The biggest problem for the creation of these models requires data with great robust statistics that support the results, and there are several places where this type of information is not available, for which the use of alternative methodologies helps to achieve adjustments to different models of seismic prediction.Keywords: GMPM, 5% damped pseudo-response spectra, models of seismic prediction, PSHA
Procedia PDF Downloads 698970 A Transformer-Based Question Answering Framework for Software Contract Risk Assessment
Authors: Qisheng Hu, Jianglei Han, Yue Yang, My Hoa Ha
Abstract:
When a company is considering purchasing software for commercial use, contract risk assessment is critical to identify risks to mitigate the potential adverse business impact, e.g., security, financial and regulatory risks. Contract risk assessment requires reviewers with specialized knowledge and time to evaluate the legal documents manually. Specifically, validating contracts for a software vendor requires the following steps: manual screening, interpreting legal documents, and extracting risk-prone segments. To automate the process, we proposed a framework to assist legal contract document risk identification, leveraging pre-trained deep learning models and natural language processing techniques. Given a set of pre-defined risk evaluation problems, our framework utilizes the pre-trained transformer-based models for question-answering to identify risk-prone sections in a contract. Furthermore, the question-answering model encodes the concatenated question-contract text and predicts the start and end position for clause extraction. Due to the limited labelled dataset for training, we leveraged transfer learning by fine-tuning the models with the CUAD dataset to enhance the model. On a dataset comprising 287 contract documents and 2000 labelled samples, our best model achieved an F1 score of 0.687.Keywords: contract risk assessment, NLP, transfer learning, question answering
Procedia PDF Downloads 1228969 The Strategic Management Affect to Firm Performance: An Empirical Investigation of Businesses in Thailand
Authors: Kawinphat Lertpongmanee
Abstract:
The purpose of this research is to examine the relationships among business collaboration effectiveness, modern management excellence, proactive operational management, and firm performance to bring competitive advantage to the firm. Furthermore, the population and sample selected are exporters on textile businesses in Thailand in total of 566 companies. The data were collected by questionnaire survey and sent direct to the directors or managerial managers of each company which is appropriate as the key informant of this research. Moreover, the statistic to test hypothesis uses the hierarchical multiple regression analysis and provides those five hypotheses to testing. The results show direct effect that the business collaboration effectiveness has a significantly positive influence on firm performance, meaning that, the collaboration is an important factor in global business both internal and external of firms that reflect the linkage of business to create competitive advantage and gain benefits simultaneously of the firms efficiently also.Keywords: business collaboration effectiveness, firm performance, modern management excellence, strategic management
Procedia PDF Downloads 2698968 Understanding the Effectiveness of Branding Strategies in Car Rental Service Business in India
Authors: Vrajesh Chokshi
Abstract:
In last three decades, the global economy is substantially changed. Today, we are living in highly inter-connected world. The global markets are more open and consumers are well informed about products and services. The information technology revolution has broken all barriers in global business. The E-commerce has given opportunities of global trades to corporate. The IT is extensively used in almost all industries. After liberalization in 1992, the Indian economy is also significantly changed. The IT (information technology) and ITES (IT enable services) are extensively used in supply chain management. In India, previously car rental service business was dominated by local organization and operated through local contact. This industry is very lucrative and to catch this opportunity, many new corporate have ventured into e-commerce car rental service business in India. As the market is very competitive, branding is also very important part of marketing strategy. Now, the E-commerce portals those are in car rental business in India have realized the importance of the same and have started usage of all types of communication channel to promote their brand in different Indian markets. At consumer side, the awareness is also being considerably increased due to marketing communication campaign run by these companies. This paper aims to understand effectiveness of branding strategies in car rental business in India and also tries to identify unique promotional strategies to consolidate brand image of this business in different Indian markets.Keywords: branding strategies, car rental business, CRM (customer relationship management), ITES (information technology enabled services)
Procedia PDF Downloads 2938967 Modeling the Saltatory Conduction in Myelinated Axons by Order Reduction
Authors: Ruxandra Barbulescu, Daniel Ioan, Gabriela Ciuprina
Abstract:
The saltatory conduction is the way the action potential is transmitted along a myelinated axon. The potential diffuses along the myelinated compartments and it is regenerated in the Ranvier nodes due to the ion channels allowing the flow across the membrane. For an efficient simulation of populations of neurons, it is important to use reduced order models both for myelinated compartments and for Ranvier nodes and to have control over their accuracy and inner parameters. The paper presents a reduced order model of this neural system which allows an efficient simulation method for the saltatory conduction in myelinated axons. This model is obtained by concatenating reduced order linear models of 1D myelinated compartments and nonlinear 0D models of Ranvier nodes. The models for the myelinated compartments are selected from a series of spatially distributed models developed and hierarchized according to their modeling errors. The extracted model described by a nonlinear PDE of hyperbolic type is able to reproduce the saltatory conduction with acceptable accuracy and takes into account the finite propagation speed of potential. Finally, this model is again reduced in order to make it suitable for the inclusion in large-scale neural circuits.Keywords: action potential, myelinated segments, nonlinear models, Ranvier nodes, reduced order models, saltatory conduction
Procedia PDF Downloads 1508966 Assessment of Modern RANS Models for the C3X Vane Film Cooling Prediction
Authors: Mikhail Gritskevich, Sebastian Hohenstein
Abstract:
The paper presents the results of a detailed assessment of several modern Reynolds Averaged Navier-Stokes (RANS) turbulence models for prediction of C3X vane film cooling at various injection regimes. Three models are considered, namely the Shear Stress Transport (SST) model, the modification of the SST model accounting for the streamlines curvature (SST-CC), and the Explicit Algebraic Reynolds Stress Model (EARSM). It is shown that all the considered models face with a problem in prediction of the adiabatic effectiveness in the vicinity of the cooling holes; however, accounting for the Reynolds stress anisotropy within the EARSM model noticeably increases the solution accuracy. On the other hand, further downstream all the models provide a reasonable agreement with the experimental data for the adiabatic effectiveness and among the considered models the most accurate results are obtained with the use EARMS.Keywords: discrete holes film cooling, Reynolds Averaged Navier-Stokes (RANS), Reynolds stress tensor anisotropy, turbulent heat transfer
Procedia PDF Downloads 4128965 Political Connections, Business Strategy and Tax Aggressiveness: Evidence from China
Authors: Liqiang Chen
Abstract:
This study investigates the effects of political connections on the association between firms’ business strategy and their tax aggressiveness in an emerging economy such as China. By studying all public Chinese firms in the period from 2011 to 2017, we find that firms adopting innovative business strategy are more tax aggressive overall, but innovative firms with political connections are less tax aggressive compared to those without political connections. Moreover, we document several channels through which political connections affect the association between innovative business strategy and tax aggressiveness. In particular, we show that the mitigation effect of political connections on tax aggressiveness is stronger for innovative firms located in areas with a lower marketization index and for innovative firms with a lower leverage level or with less earnings management. Our results are robust to an instrumental variable approach to account for possible endogenous bias. Our study contributes to the understanding of firms’ tax behaviors in an emerging economy setting and suggests that there are costs associated with political connections, such as foregone tax saving opportunities, which are understudied in the prior literature.Keywords: tax aggressiveness, business strategy, political connections, emerging economy
Procedia PDF Downloads 1188964 State of Art in Software Requirement Negotiation Process Models
Authors: Shamsu Abdullahi, Nazir Yusuf, Hazrina Sofian, Abubakar Zakari, Amina Nura, Salisu Suleiman
Abstract:
Requirements negotiation process models help in resolving conflicting requirements of the heterogeneous stakeholders in the software development industry. This is to achieve a shared vision of software projects to be developed by the industry. Negotiating stakeholder agreements is a serious and difficult task in the software development process. There are many requirements negotiation process models that effectively negotiate stakeholder agreements that have been proposed by the research community. Other issues in the requirements negotiation research domain include stakeholder communication, decision-making, lack of negotiation interoperability, and managing requirement changes and analysis. This study highlights the current state of the art in the existing software requirements negotiation process models. The study also describes the issues and limitations in the software requirements negotiations process models.Keywords: requirements, negotiation, stakeholders, agreements
Procedia PDF Downloads 1848963 Designing a Model to Increase the Flow of Circular Economy Startups Using a Systemic and Multi-Generational Approach
Authors: Luís Marques, João Rocha, Andreia Fernandes, Maria Moura, Cláudia Caseiro, Filipa Figueiredo, João Nunes
Abstract:
The implementation of circularity strategies other than recycling, such as reducing the amount of raw material, as well as reusing or sharing existing products, remains marginal. The European Commission announced that the transition towards a more circular economy could lead to the net creation of about 700,000 jobs in Europe by 2030, through additional labour demand from recycling plants, repair services and other circular activities. Efforts to create new circular business models in accordance with completely circular processes, as opposed to linear ones, have increased considerably in recent years. In order to create a societal Circular Economy transition model, it is necessary to include innovative solutions, where startups play a key role. Early-stage startups based on new business models according to circular processes often face difficulties in creating enough impact. The StartUp Zero Program designs a model and approach to increase the flow of startups in the Circular Economy field, focusing on a systemic decision analysis and multi-generational approach, considering Multi-Criteria Decision Analysis to support a decision-making tool, which is also supported by the use of a combination of an Analytical Hierarchy Process and Multi-Attribute Value Theory methods. We define principles, criteria and indicators for evaluating startup prerogatives, quantifying the evaluation process in a unique result. Additionally, this entrepreneurship program spanning 16 months involved more than 2400 young people, from ages 14 to 23, in more than 200 interaction activities.Keywords: circular economy, entrepreneurship, startups;, multi-criteria decision analysis
Procedia PDF Downloads 928962 Infusing Social Business Skills into the Curriculum of Higher Learning Institutions with Special Reference to Albukhari International University
Authors: Abdi Omar Shuriye
Abstract:
A social business is a business designed to address socio-economic problems to enhance the welfare of the communities involved. Lately, social business, with its focus on innovative ideas, is capturing the interest of educational institutions, governments, and non-governmental organizations. Social business uses a business model to achieve a social goal, and in the last few decades, the idea of imbuing social business into the education system of higher learning institutions has spurred much excitement. This is due to the belief that it will lead to job creation and increased social resilience. One of the higher learning institutions which have invested immensely in the idea is Albukhari International University; it is a private education institution, on a state-of-the-art campus, providing an advantageous learning ecosystem. The niche area of this institution is social business, and it graduates job creators, not job seekers; this Malaysian institution is unique and one of its kind. The objective of this paper is to develop a work plan, direction, and milestone as well as the focus area for the infusion of social business into higher learning institutions with special reference to Al-Bukhari International University. The purpose is to develop a prototype and model full-scale to enable higher learning education institutions to construct the desired curriculum fermented with social business. With this model, major predicaments faced by these institutions could be overcome. The paper sets forth an educational plan and will spell out the basic tenets of social business, focusing on the nature and implementational aspects of the curriculum. It will also evaluate the mechanisms applied by these educational institutions. Currently, since research in this area remains scarce, institutions adopt the process of experimenting with various methods to find the best way to reach the desired result on the matter. The author is of the opinion that social business in education is the main tool to educate holistic future leaders; hence educational institutions should inspire students in the classroom to start up their own businesses by adopting creative and proactive teaching methods. This proposed model is a contribution in that direction.Keywords: social business, curriculum, skills, university
Procedia PDF Downloads 808961 An Integrated Approach to Syllabus Design for Business Chinese
Authors: Dongshuo Wang, Minjie Xing
Abstract:
International businesses prefer to hire people who speak more than one language. With the booming of China’s market, industries and trade, business leaders are looking for people who can speak Chinese and operate successfully in a Chinese cultural context, and therefore an increasing number of tertiary students choose a Business Chinese (BC) course. As a result, BC syllabus design is urgently needed. What business knowledge should be included in China’s context? What aspects of BC culture should be included? How much Chinese language should be introduced to conduct business in China? With these research questions, this research explores a syllabus design that integrates the three aspects of subject knowledge of business in communication, business practice including the procedure of and strategies for communicating business in practice and language skills including the disciplinary and professional contexts in which linguistic choices are made. After literature review and consultancy with China-related business professionals, senior staff from business schools and representatives of students, the authors of this paper, together with language tutors drafted a syllabus based on the integrated approach to include subject knowledge, business practice and language skills. Due to the nature of this research which requires trial/test and detailed description for each correction, qualitative methods are adopted. Two in-depth focus group interviews (with 2 staff and 4 students in each group), and 18 individual interviews (8 staff and 10 students) were conducted. QDA was used for systematizing, organizing, and analysing qualitative data. It was discovered that the business knowledge related to a Chinese cultural context, including face value, networking skills, strategic plans for signing a contract, marketing, sales, and after-sale service, should be introduced through lectures and seminars; business practice could be implemented by students setting up their own companies, virtual or real; and language skills would be trained via writing business messages and presenting their companies in fairs and exhibitions. After a longitudinal study of trials and amendments for three years from 2013 to 2016, the syllabus was approved by staff and students and the university. Students appreciated the syllabus, as they could apply the subject knowledge into practice by using it in their own companies and Chinese language was used throughout the process. The syllabus is now ready to be used in universities offering BC, and the designing process can be applied to other new courses as well.Keywords: business Chinese, syllabus design, business knowledge, language skills
Procedia PDF Downloads 3338960 Prediction of Saturated Hydraulic Conductivity Dynamics in an Iowan Agriculture Watershed
Authors: Mohamed Elhakeem, A. N. Thanos Papanicolaou, Christopher Wilson, Yi-Jia Chang
Abstract:
In this study, a physically-based, modelling framework was developed to predict saturated hydraulic conductivity (KSAT) dynamics in the Clear Creek Watershed (CCW), Iowa. The modelling framework integrated selected pedotransfer functions and watershed models with geospatial tools. A number of pedotransfer functions and agricultural watershed models were examined to select the appropriate models that represent the study site conditions. Models selection was based on statistical measures of the models’ errors compared to the KSAT field measurements conducted in the CCW under different soil, climate and land use conditions. The study has shown that the predictions of the combined pedotransfer function of Rosetta and the Water Erosion Prediction Project (WEPP) provided the best agreement to the measured KSAT values in the CCW compared to the other tested models. Therefore, Rosetta and WEPP were integrated with the Geographic Information System (GIS) tools for visualization of the data in forms of geospatial maps and prediction of KSAT variability in CCW due to the seasonal changes in climate and land use activities.Keywords: saturated hydraulic conductivity, pedotransfer functions, watershed models, geospatial tools
Procedia PDF Downloads 2498959 Overview of Development of a Digital Platform for Building Critical Infrastructure Protection Systems in Smart Industries
Authors: Bruno Vilić Belina, Ivan Župan
Abstract:
Smart industry concepts and digital transformation are very popular in many industries. They develop their own digital platforms, which have an important role in innovations and transactions. The main idea of smart industry digital platforms is central data collection, industrial data integration, and data usage for smart applications and services. This paper presents the development of a digital platform for building critical infrastructure protection systems in smart industries. Different service contraction modalities in service level agreements (SLAs), customer relationship management (CRM) relations, trends, and changes in business architectures (especially process business architecture) for the purpose of developing infrastructural production and distribution networks, information infrastructure meta-models and generic processes by critical infrastructure owner demanded by critical infrastructure law, satisfying cybersecurity requirements and taking into account hybrid threats are researched.Keywords: cybersecurity, critical infrastructure, smart industries, digital platform
Procedia PDF Downloads 968958 The Role of Business Incubation Centers (BICS) in Fostering Entrepreneurship in Pakistani Universities
Authors: Shah Hussain Awan
Abstract:
This study investigates the role of Business Incubation Centers (BICs) in fostering entrepreneurship in Pakistani universities. The high failure rate in new startups around the world has opened a challenging discussion. Though encouraging steps and strategies have been taken to overcome these challenges, still more aggressive action needs to be taken. However, Pakistan is one of the countries that promote entrepreneurship through BICs. The purpose of the present study is to develop a conceptual model that assesses the moderating impact of government policy on entrepreneurship development through business incubation centers of public and private universities. This area is under-researched, particularly in the context of Pakistan; therefore, this research may contribute to the existing body of knowledge to appraise the industry in Pakistan. The data collection procedure included a survey of stakeholders from private and public universities in Pakistan and was analyzed by SmartPLS 4.0. The findings show that Business incubation centers and government support have a significant impact on entrepreneurship development in Pakistan. Moderation analysis showed that for business incubation centers to be successful and effective, the government needs to implement efficient policies to inculcate entrepreneurship.Keywords: business incubation centers, government support, policies, startup performance, entrepreneurship development
Procedia PDF Downloads 378957 Global Supply Chain Tuning: Role of National Culture
Authors: Aleksandr S. Demin, Anastasiia V. Ivanova
Abstract:
Purpose: The current economy tends to increase the influence of digital technologies and diminish the human role in management. However, it is impossible to deny that a person still leads a business with its own set of values and priorities. The article presented aims to incorporate the peculiarities of the national culture and the characteristics of the supply chain using the quantitative values of the national culture obtained by the scholars of comparative management (Hofstede, House, and others). Design/Methodology/Approach: The conducted research is based on the secondary data in the field of cross-country comparison achieved by Prof. Hofstede and received in the GLOBE project. The data mentioned are used to design different aspects of the supply chain both on the cross-functional and inter-organizational levels. The connection between a range of principles in general (roles assignment, customer service prioritization, coordination of supply chain partners) and in comparative management (acknowledgment of the national peculiarities of the country in which the company operates) is shown over economic and mathematical models, mainly linear programming models. Findings: The combination of the team management wheel concept, the business processes of the global supply chain, and the national culture characteristics let a transnational corporation to form a supply chain crew balanced in costs, functions, and personality. To elaborate on an effective customer service policy and logistics strategy in goods and services distribution in the country under review, two approaches are offered. The first approach relies exceptionally on the customer’s interest in the place of operation, while the second one takes into account the position of the transnational corporation and its previous experience in order to accord both organizational and national cultures. The effect of integration practice on the achievement of a specific supply chain goal in a specific location is advised to assess via types of correlation (positive, negative, non) and the value of national culture indices. Research Limitations: The models developed are intended to be used by transnational companies and business forms located in several nationally different areas. Some of the inputs to illustrate the application of the methods offered are simulated. That is why the numerical measurements should be used with caution. Practical Implications: The research can be of great interest for the supply chain managers who are responsible for the engineering of global supply chains in a transnational corporation and the further activities in doing business on the international area. As well, the methods, tools, and approaches suggested can be used by top managers searching for new ways of competitiveness and can be suitable for all staff members who are keen on the national culture traits topic. Originality/Value: The elaborated methods of decision-making with regard to the national environment suggest the mathematical and economic base to find a comprehensive solution.Keywords: logistics integration, logistics services, multinational corporation, national culture, team management, service policy, supply chain management
Procedia PDF Downloads 988956 Validation of Escherichia coli O157:H7 Inactivation on Apple-Carrot Juice Treated with Manothermosonication by Kinetic Models
Authors: Ozan Kahraman, Hao Feng
Abstract:
Several models such as Weibull, Modified Gompertz, Biphasic linear, and Log-logistic models have been proposed in order to describe non-linear inactivation kinetics and used to fit non-linear inactivation data of several microorganisms for inactivation by heat, high pressure processing or pulsed electric field. First-order kinetic parameters (D-values and z-values) have often been used in order to identify microbial inactivation by non-thermal processing methods such as ultrasound. Most ultrasonic inactivation studies employed first-order kinetic parameters (D-values and z-values) in order to describe the reduction on microbial survival count. This study was conducted to analyze the E. coli O157:H7 inactivation data by using five microbial survival models (First-order, Weibull, Modified Gompertz, Biphasic linear and Log-logistic). First-order, Weibull, Modified Gompertz, Biphasic linear and Log-logistic kinetic models were used for fitting inactivation curves of Escherichia coli O157:H7. The residual sum of squares and the total sum of squares criteria were used to evaluate the models. The statistical indices of the kinetic models were used to fit inactivation data for E. coli O157:H7 by MTS at three temperatures (40, 50, and 60 0C) and three pressures (100, 200, and 300 kPa). Based on the statistical indices and visual observations, the Weibull and Biphasic models were best fitting of the data for MTS treatment as shown by high R2 values. The non-linear kinetic models, including the Modified Gompertz, First-order, and Log-logistic models did not provide any better fit to data from MTS compared the Weibull and Biphasic models. It was observed that the data found in this study did not follow the first-order kinetics. It is possibly because of the cells which are sensitive to ultrasound treatment were inactivated first, resulting in a fast inactivation period, while those resistant to ultrasound were killed slowly. The Weibull and biphasic models were found as more flexible in order to determine the survival curves of E. coli O157:H7 treated by MTS on apple-carrot juice.Keywords: Weibull, Biphasic, MTS, kinetic models, E.coli O157:H7
Procedia PDF Downloads 3548955 Contact Phenomena in Medieval Business Texts
Authors: Carmela Perta
Abstract:
Among the studies flourished in the field of historical sociolinguistics, mainly in the strand devoted to English history, during its Medieval and early modern phases, multilingual texts had been analysed using theories and models coming from contact linguistics, thus applying synchronic models and approaches to the past. This is true also in the case of contact phenomena which would transcend the writing level involving the language systems implicated in contact processes to the point of perceiving a new variety. This is the case for medieval administrative-commercial texts in which, according to some Scholars, the degree of fusion of Anglo-Norman, Latin and middle English is so high a mixed code emerges, and there are recurrent patterns of mixed forms. Interesting is a collection of multilingual business writings by John Balmayn, an Englishman overseeing a large shipment in Tuscany, namely the Cantelowe accounts. These documents display various analogies with multilingual texts written in England in the same period; in fact, the writer seems to make use of the above-mentioned patterns, with Middle English, Latin, Anglo-Norman, and the newly added Italian. Applying an atomistic yet dynamic approach to the study of contact phenomena, we will investigate these documents, trying to explore the nature of the switching forms they contain from an intra-writer variation perspective. After analysing the accounts and the type of multilingualism in them, we will take stock of the assumed mixed code nature, comparing the characteristics found in this genre with modern assumptions. The aim is to evaluate the possibility to consider the switching forms as core elements of a mixed code, used as professional variety among merchant communities, or whether such texts should be analysed from a switching perspective.Keywords: historical sociolinguistics, historical code switching, letters, medieval england
Procedia PDF Downloads 688954 Prompt Design for Code Generation in Data Analysis Using Large Language Models
Authors: Lu Song Ma Li Zhi
Abstract:
With the rapid advancement of artificial intelligence technology, large language models (LLMs) have become a milestone in the field of natural language processing, demonstrating remarkable capabilities in semantic understanding, intelligent question answering, and text generation. These models are gradually penetrating various industries, particularly showcasing significant application potential in the data analysis domain. However, retraining or fine-tuning these models requires substantial computational resources and ample downstream task datasets, which poses a significant challenge for many enterprises and research institutions. Without modifying the internal parameters of the large models, prompt engineering techniques can rapidly adapt these models to new domains. This paper proposes a prompt design strategy aimed at leveraging the capabilities of large language models to automate the generation of data analysis code. By carefully designing prompts, data analysis requirements can be described in natural language, which the large language model can then understand and convert into executable data analysis code, thereby greatly enhancing the efficiency and convenience of data analysis. This strategy not only lowers the threshold for using large models but also significantly improves the accuracy and efficiency of data analysis. Our approach includes requirements for the precision of natural language descriptions, coverage of diverse data analysis needs, and mechanisms for immediate feedback and adjustment. Experimental results show that with this prompt design strategy, large language models perform exceptionally well in multiple data analysis tasks, generating high-quality code and significantly shortening the data analysis cycle. This method provides an efficient and convenient tool for the data analysis field and demonstrates the enormous potential of large language models in practical applications.Keywords: large language models, prompt design, data analysis, code generation
Procedia PDF Downloads 148953 Capability of Available Seismic Soil Liquefaction Potential Assessment Models Based on Shear-Wave Velocity Using Banchu Case History
Authors: Nima Pirhadi, Yong Bo Shao, Xusheng Wa, Jianguo Lu
Abstract:
Several models based on the simplified method introduced by Seed and Idriss (1971) have been developed to assess the liquefaction potential of saturated sandy soils. The procedure includes determining the cyclic resistance of the soil as the cyclic resistance ratio (CRR) and comparing it with earthquake loads as cyclic stress ratio (CSR). Of all methods to determine CRR, the methods using shear-wave velocity (Vs) are common because of their low sensitivity to the penetration resistance reduction caused by fine content (FC). To evaluate the capability of the models, based on the Vs., the new data from Bachu-Jianshi earthquake case history collected, then the prediction results of the models are compared to the measured results; consequently, the accuracy of the models are discussed via three criteria and graphs. The evaluation demonstrates reasonable accuracy of the models in the Banchu region.Keywords: seismic liquefaction, banchu-jiashi earthquake, shear-wave velocity, liquefaction potential evaluation
Procedia PDF Downloads 2258952 The Role of Business Survey Measures in Forecasting Croatian Industrial Production
Authors: M. Cizmesija, N. Erjavec, V. Bahovec
Abstract:
While the European Union (EU) harmonized methodology is a benchmark of worldwide used business survey (BS) methodology, the choice of variables that are components of the confidence indicators, as the leading indicators, is not strictly determined and unique. Therefore, the aim of this paper is to investigate and to quantify the relationship between all business survey variables in manufacturing industry and industrial production as a reference macroeconomic series in Croatia. The assumption is that there are variables in the business survey, that are not components of Industrial Confidence Indicator (ICI) and which can accurately (and sometimes better then ICI) predict changes in Croatian industrial production. Empirical analyses are conducted using quarterly data of BS variables in manufacturing industry and Croatian industrial production over the period from the first quarter 2005 to the first quarter 2013. Research results confirmed the assumption: three BS variables which is not components of ICI (competitive position, demand and liquidity) are the best leading indicator then ICI, in forecasting changes in Croatian industrial production instantaneously, with one, two or three quarter ahead.Keywords: balance, business survey, confidence indicators, industrial production, forecasting
Procedia PDF Downloads 4688951 The Impact of Sport Tourism on Small Scale Business Development in Sri Lanka
Authors: Vimuckthi Charika Wickramaratne, Prasansha Kumari
Abstract:
Sport tourism refers to travel which involves either observing or participating in a sporting event apart from their usual environment. Sport tourism in a fast growing sector of the Sri Lankan travelling industry since Cricket are more popular sport game in the country. This study intends to analyze the impact of these popular sport events for creating and developing small scale business in the country. Primary data gathered from 100 small entrepreneurs around Keththarama Cricket Ground in Sri Lanka. Collected data analyzed using descriptive research methods. The study revealed that local and international visitors for cricket games had impacted on small scale business activities such as retail, handicraft, transport, vehicle parking, small restaurant, hotels, foods and beverage industry. In addition, it was identified that these type of small business are sessional income generating activities for the short period.Keywords: sport tourism, small scale business, cricket, entrepreneurs
Procedia PDF Downloads 2898950 Corporate Social Responsibility: An Ethical or a Legal Framework?
Authors: Pouira Askary
Abstract:
Indeed, in our globalized world which is facing with various international crises, the transnational corporations and other business enterprises have the capacity to foster economic well-being, development, technological improvement and wealth, as well as causing adverse impacts on human rights. The UN Human Rights Council declared that although the primary responsibility to protect human rights lie with the State but the transnational corporations and other business enterprises have also a responsibility to respect and protect human rights in the framework of corporate social responsibility. In 2011, the Human Rights Council endorsed the Guiding Principles on Business and Human Rights, a set of guidelines that define the key duties and responsibilities of States and business enterprises with regard to business-related human rights abuses. In UN’s view, the Guiding Principles do not create new legal obligations but constitute a clarification of the implications of existing standards, including under international human rights law. In 2014 the UN Human Rights Council decided to establish a working group on transnational corporations and other business enterprises whose mandate shall be to elaborate an international legally binding instrument to regulate, in international human rights law, the activities of transnational corporations and other business enterprises. Extremely difficult task for the working group to codify a legally binding document to regulate the behavior of corporations on the basis of the norms of international law! Concentration of this paper is on the origins of those human rights applicable on business enterprises. The research will discuss that the social and ethical roots of the CSR are much more institutionalized and elaborated than the legal roots. Therefore, the first step is to determine whether and to what extent corporations, do have an ethical responsibility to respect human rights and if so, by which means this ethical and social responsibility is convertible to legal commitments.Keywords: CSR, ethics, international law, human rights, development, sustainable business
Procedia PDF Downloads 367