Search results for: digitization of the economy

Authors: Justyna P. Majewska, Szymon M. Truskolaski

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The growing importance of digitalized services in the so-called new economy, including the e-sports industry, can be observed recently. Various demographic or technological changes lead consumers to modify their needs, not regarding the services themselves but the method of their application (attracting customers, forms of payment, new content, etc.). In the case of leisure-related to competitive spectating activities, there is a growing need to participate in events whose content is not sports competitions but computer games challenge – e-sport. The literature in this area so far focuses on determining the number of e-sport fans with elements of a simple statistical description (mainly concerning demographic characteristics such as age, gender, place of residence). Meanwhile, the development of the industry is influenced by a combination of many different, intertwined demographic, personality and psychosocial characteristics of customers, as well as the characteristics of their environment. Therefore, there is a need for a deeper recognition of the determinants of the behavioral patterns upon selecting digitalized services by customers, which, in the absence of available large data sets, can be achieved by using econometric simulations – multi-agent modeling. The cognitive aim of the study is to reveal internal and external determinants of behavioral patterns of customers taking into account various variants of economic development (the pace of digitization and technological development, socio-demographic changes, etc.). In the paper, an agent-based model with heterogeneous agents (characteristics of customers themselves and their environment) was developed, which allowed identifying a three-stage development scenario: i) initial interest, ii) standardization, and iii) full professionalization. The probabilities regarding the transition process were estimated using the Method of Simulated Moments. The estimation of the agent-based model parameters and sensitivity analysis reveals crucial factors that have driven a rising trend in e-sport spectating and, in a wider perspective, the development of digitalized services. Among the psychosocial characteristics of customers, they are the level of familiarization with the rules of games as well as sports disciplines, active and passive participation history and individual perception of challenging activities. Environmental factors include general reception of games, number and level of recognition of community builders and the level of technological development of streaming as well as community building platforms. However, the crucial factor underlying the good predictive power of the model is the level of professionalization. While in the initial interest phase, the entry barriers for new customers are high. They decrease during the phase of standardization and increase again in the phase of full professionalization when new customers perceive participation history inaccessible. In this case, they are prone to switch to new methods of service application – in the case of e-sport vs. sports to new content and more modern methods of its delivery. In a wider context, the findings in the paper support the idea of a life cycle of services regarding methods of their application from “traditional” to digitalized.

Keywords: agent-based modeling, digitalized services, e-sport, spectators motives

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Authors: Muttamas Wongwanich, John R. Bryson, Catherine E. Harris

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Science parks are an essential component of localized innovation ecosystems. Science Parks have played a critical role in enhancing local innovation ecosystems in developed market economies. Attempts have been made to replicate best practice in other national contexts. To our best knowledge, the study about the development of Science Parks has not been undertaken on the economic impact on the developing countries. Further research is required to understand the adoption of Science Park policies in developing and emerging economies. This study explores the implementation of Science Park policy and its impacts on economic growth and development in Thailand, focusing on the relationship between universities and businesses. The Thailand context is essential. Thailand’s economy is dominated by agriculture and tourism. The Science Park policy is trying to develop an agriculturally orientated innovative ecosystem. Thailand established four Science Parks based on a policy that highlighted the importance of cooperation between government, HEIs, and businesses. These Science Parks are intended to increase small and medium enterprises’ (SMEs) innovativeness, employment, and regional economic growth by promoting collaboration and knowledge transfer between HEIs and the private sector. This study explores one regional Science Park in Thailand with an emphasis on understanding the implementation and operation of a triple helix innovation policy. The analysis explores the establishment of the Science Park and its impacts on firms and the regional economy through interviews with Science Parks directors, firms, academics, universities, and government officials. The analysis will inform Science Park policy development in Thailand to support the national objective to develop an innovation ecosystem based on the integration of technology with innovation policy, supporting technology-based SMEs in the creation of local jobs. The finding shows that the implementation of the Science Park policy in Thailand requires support and promotion from the government. The regional development plan must be related to the regional industry development strategy, considering the strengths and weaknesses of local entrepreneurs. The long time in granting a patent is the major obstacle in achieving the government’s aim in encouraging local economic activity. The regional Science Parks in Thailand are at the early stage of the operation plan. Thus, the impact on the regional economy cannot be measured and need further investigation in a more extended period. However, local businesses realize the vital of research and development (R&D). There have been more requests for funding support in doing R&D. Furthermore, there is the creation of linkages between businesses, HEIs, and government authorities as expected.

Keywords: developing country, emerging economy, regional development, science park, Thailand, triple helix

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Authors: Zeljana Aljinovic Barac, Marina Granic, Tina Vuko

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Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analysed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.

Keywords: annual report, Croatian companies, disclosure index, voluntary disclosure

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Authors: Stefanie Jeanette Huber

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This paper explores the relevance and implications of preferences for housing services on house price fluctuations through the lens of an overlapping generation’s model. The model implies that an economy whose agents have lower preferences for housing services is characterized with lower expenditure shares on housing services and will tend to experience more frequent and more volatile housing bubbles. These model predictions are tested empirically in the companion paper Housing Booms and Busts - Convergences and Divergences across OECD countries. Between 1970 - 2013, countries who spend less on housing services as a share of total income experienced significantly more housing cycles and the associated housing boom-bust cycles were more violent. Finally, the model is used to study the impact of rental subsidies and help-to-buy schemes on rational housing bubbles. Rental subsidies are found to contribute to the control of housing bubbles, whereas help-to- buy scheme makes the economy more bubble-prone.

Keywords: housing bubbles, housing booms and busts, preference for housing services, expenditure shares for housing services, rental and purchase subsidies

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Authors: Antonia Hoffmann, Andrea Stübner

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Resource scarcity and rising material prices are forcing companies to rethink their business models. The conventional linear system of economic growth and rising social needs further exacerbates the problem of resource scarcity. Therefore, it is necessary to separate economic growth from resource consumption. This can be achieved through the circular economy (CE), which focuses on sustainable product life cycles. However, companies face challenges in implementing CE into their businesses. Small and medium-sized enterprises are particularly affected by these problems, as they have a limited resource base. Collaboration and social interaction between different actors can help to overcome these obstacles. Based on a self-generated sample of 1,023 German small and medium-sized enterprises, we use a questionnaire to investigate the influence of social capital and its three dimensions - structural, relational, and cognitive capital - on the implementation of CE and the mediating effect of dynamic capabilities in explaining these relationships. Using regression analyses and structural equation modeling, we find that social capital is positively associated with CE implementation and dynamic capabilities partially mediate this relationship. Interestingly, our findings suggest that not all social capital dimensions are equally important for CE implementation. We theoretically and empirically explore the network forms of social capital and extend the CE literature by suggesting that dynamic capabilities help organizations leverage social capital to drive the implementation of CE practices. The findings of this study allow us to suggest several implications for managers and institutions. From a practical perspective, our study contributes to building circular production and service capabilities in small and medium-sized enterprises. Various CE activities can transform products and services to contribute to a better and more responsible world.

Keywords: circular economy, dynamic capabilities, SMEs, social capital

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Authors: Drago Jakovcevic, Mihovil Andelinovic, Igor Husak

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The aim of this paper is to explore the economic circumstances in which the selective credit policy, the least used instrument of four types of instruments on disposal to central banks, should be used. The most significant example includes the use of selective credit policies in response to the emergence of the global financial crisis by the FED. Specifics of the potential use of selective credit policies as the instigator of economic growth in Croatia, a small open economy, are determined by high euroization of financial system, fixed exchange rate and long-term trend growth of external debt that is related to the need to maintain high levels of foreign reserves. In such conditions, the classic forms of selective credit policies are unsuitable for the introduction. Several alternative approaches to implement selective credit policies are examined in this paper. Also, thorough analysis of distribution of selective monetary policy loans among economic sectors in Croatia is conducted in order to minimize the risk of investing funds and maximize the return, in order to influence the GDP growth.

Keywords: global crisis, selective credit policy, small open economy, Croatia

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Authors: Sarah Niklas, Lynne Chester, Mark Diesendorf

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Geopolitical tensions, climate change and recent movements favouring a transformative shift in institutional power structures have influenced the economics of conventional energy supply for decades. This study takes a multi-dimensional approach to illustrate the potential of renewable energy (RE) technology to provide a pathway to a low-carbon economy driven by ecologically sustainable, independent and socially just energy. This comparative analysis identifies economic, political and social drivers that shaped the adoption of RE policy in two significantly different economies, Germany and Australia, with strong and weak commitments to RE respectively. Two complementary political-economy theories frame the document-based analysis. Régulation Theory, inspired by Marxist ideas and strongly influenced by contemporary economic problems, provides the background to explore the social relationships contributing the adoption of RE within the macro-economy. Varieties of Capitalism theory, a more recently developed micro-economic approach, examines the nature of state-firm relationships. Together these approaches provide a comprehensive lens of analysis. Germany’s energy policy transformed substantially over the second half of the last century. The development is characterised by the coordination of societal, environmental and industrial demands throughout the advancement of capitalist regimes. In the Fordist regime, mass production based on coal drove Germany’s astounding economic recovery during the post-war period. Economic depression and the instability of institutional arrangements necessitated the impulsive seeking of national security and energy independence. During the postwar Flexi-Fordist period, quality-based production, innovation and technology-based competition schemes, particularly with regard to political power structures in and across Europe, favoured the adoption of RE. Innovation, knowledge and education were institutionalized, leading to the legislation of environmental concerns. Lastly the establishment of government-industry-based coordinative programs supported the phase out of nuclear power and the increased adoption of RE during the last decade. Australia’s energy policy is shaped by the country’s richness in mineral resources. Energy policy largely served coal mining, historically and currently one of the most capital-intense industry. Assisted by the macro-economic dimensions of institutional arrangements, social and financial capital is orientated towards the export-led and strongly demand-oriented economy. Here energy policy serves the maintenance of capital accumulation in the mining sector and the emerging Asian economies. The adoption of supportive renewable energy policy would challenge the distinct role of the mining industry within the (neo)-liberal market economy. The state’s protective role of the mining sector has resulted in weak commitment to RE policy and investment uncertainty in the energy sector. Recent developments, driven by strong public support for RE, emphasize the sense of community in urban and rural areas and the emergence of a bottom-up approach to adopt renewables. Thus, political economy frameworks on both the macro-economic (Regulation Theory) and micro-economic (Varieties of Capitalism theory) scales can together explain the strong commitment to RE in Germany vis-à-vis the weak commitment in Australia.

Keywords: political economy, regulation theory, renewable energy, social relationships, energy transitions

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Authors: Muhammad Afiq Anaqi Bin Baharudin, Muhammad Izamuddin Bin Mohd Nasir, Syarifuddin Bin Sujuanda, Muhammad Syahmi Rusyaidi Bin Sham Suddin, Danish Hakimi Bin Kamaruzaman, Muhammad Haqimi Nazim Bin Hasmanizam, Mohammad Akmal Zakwan Bin Amran, Muhammad Alparizi Bin Latif

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By improving efficiency and production, information technology (IT) has transformed working environments, but it has also created new threats to occupational safety and health (OSH). This study evaluates the literature that has already been written on the subject of IT and OSH, identifies major findings and discussion points, and highlights gaps in the material that call for additional research. The study's findings, which look at how IT affects OSH in a sizable multinational organization, are also presented in the report. According to the report, IT poses a number of OSH problems, such as ergonomic dangers, eye strain, dangers related to cybersecurity, and psychological hazards. The report suggests using tactics like providing comfortable workstations, encouraging a healthy balance between work and life, and putting strong cybersecurity safeguards in place to reduce these dangers. The implications of these findings for OSH and IT are discussed in the paper's conclusion, and it emphasizes the need for more study and action to address these dangers and promote healthy and secure working environments in the age of digitization.

Keywords: information technology, occupational safety and health (OSH), ergonomic, hazards, workplace.

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Authors: Hamda M. Al-Ali

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The ultimate aim of space exploration has been centralized around the possibility of life on other planets in the solar system. This aim is driven by the detrimental effects that climate change could potentially have on human survival on Earth in the future. This drives humans to search for feasible solutions to increase environmental and economical sustainability on Earth and to evaluate and explore the ability of human survival on other planets such as Mars. To do that, frequent space missions are required to meet the ambitious human goals. This means that reliable and affordable access to space is required, which could be largely achieved through the use of reusable spacecrafts. Therefore, materials and resources must be used wisely to meet the increasing demand. Space missions are currently extremely expensive to operate. However, reusing materials hence spacecrafts, can potentially reduce overall mission costs as well as the negative impact on both space and Earth environments. This is because reusing materials leads to less waste generated per mission, and therefore fewer landfill sites are required. Reusing materials reduces resource consumption, material production, and the need for processing new and replacement spacecraft and launch vehicle parts. Consequently, this will ease and facilitate human access to outer space as it will reduce the demand for scarce resources, which will boost material efficiency in the space industry. Material efficiency expresses the extent to which resources are consumed in the production cycle and how the waste produced by the industrial process is minimized. The strategies proposed in this paper to boost material efficiency in the space sector are the introduction of key performance indicators that are able to measure material efficiency as well as the introduction of clearly defined policies and legislation that can be easily implemented within the general practices in the space industry. Another strategy to improve material efficiency is by amplifying energy and resource efficiency through reusing materials. The circularity of various spacecraft materials such as Kevlar, steel, and aluminum alloys could be maximized through reusing them directly or after galvanizing them with another layer of material to act as a protective coat. This research paper has an aim to investigate and discuss how to improve material efficiency in space missions considering circular economy concepts so that space and Earth become more economically and environmentally sustainable. The circular economy is a transition from a make-use-waste linear model to a closed-loop socio-economic model, which is regenerative and restorative in nature. The implementation of a circular economy will reduce waste and pollution through maximizing material efficiency, ensuring that businesses can thrive and sustain. Further research into the extent to which reusable launch vehicles reduce space mission costs have been discussed, along with the environmental and economic implications it could have on the space sector and the environment. This has been examined through research and in-depth literature review of published reports, books, scientific articles, and journals. Keywords such as material efficiency, circular economy, reusable launch vehicles and spacecraft materials were used to search for relevant literature.

Keywords: circular economy, key performance indicator, material efficiency, reusable launch vehicles, spacecraft materials

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Authors: Amir Ikram, Qin Su, Muhammad Fiaz, Muhammad Waqas Shabbir

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Women entrepreneurship witnessed a healthy rise in the last decade or so, and the scenario in Pakistan is not different. However female leaders are facing various, cultural, career oriented, and professional challenges. The study investigates the impact of social and industry-specific challenges on female entrepreneurship; social challenges was evaluated in terms of culture, and industry-specific challenges was measured in terms of team management and career growth. Purposive sampling was employed to collect data from 75 multicultural organizations operating in the culturally diverse and historic city of Lahore, Pakistan. Cronbach’s alpha was conducted to endorse the reliability of survey questionnaire, while correlation and regression analysis were used to test hypotheses. Industry-specific challenges were found to be more significant as compared to cultural factors. The paper also highlights the importance of female entrepreneurship for emerging economies, and suggests that bringing women to mainstream professions can lead to economic success.

Keywords: cultural challenges, emerging economy, female entrepreneurship, leadership

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Authors: Marko Kolaković, Mladen Turuk

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Entrepreneurship is a valuable discipline important for the competitiveness of the European economy. The European Union's economy is constantly changing, and there is an increased demand for special knowledge and skills to help actors cope in a turbulent business environment. By promoting entrepreneurship in education, the citizens of the European Union are encouraged to be enterprising, innovative, and creative in designing solutions to perceived commercial and social problems in the form of offered products and services created as a result of the entrepreneurial process. The European Union has developed a series of guidelines to encourage entrepreneurship in education and training, and it supports entrepreneurship itself through various activities such as Erasmus + and other programs. A number of tools have been developed to support the development of entrepreneurial spirit among the citizens of the European Union. Special emphasis is placed on the methods of developing creativity, critical thinking, and the development of digital competencies. The aim of this paper is to investigate the initiatives of the European Union in the field of entrepreneurship education and to analyze the concept of entrepreneurship education in selected EU member states. Also, an overview of the desired learning outcomes acquired as a result of the successfully completed entrepreneurship education process will be provided.

Keywords: entrepreneurship, entrepreneurial education, EU, croatia

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Authors: Sarmistha Singh

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An analysis of trend of urbanization and urban poverty in recent decades is showing that a distinctly reducing rural poverty and increasing in urban areas. It can be argued that the higher the urbanization fuelled by the urban migration to city, which is picking up people from less skilled, education so they faced obstacle to enter into the mainstream economy of city. The share of workforce in economy is higher; in contrast it remains as negligence. At the same time, less wages, absence of social security, social dialogue make them insecure. The vulnerability in their livelihood found. So the paper explores the relation of urbanization and urban poverty in the city, in other words how the urbanization process affecting the urban space in creating the number of poor people in the city. The central focus is the mobility of people with less education and skilled with motive of job search and better livelihood. In many studies found the higher the urbanization and higher the urban poverty in city. In other words, poverty is the impact of urbanization. The strategy of urban inequality through ‘dispersal of concentration’ by the World Bank and others, need to be examined.

Keywords: urbanization, mobility, urban poverty, informal settlements, informal worker

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Authors: Marc Evenst Jn Jacques, Sophie Bernard

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Electrical and electronic applications, as well as rechargeable batteries, are common in any economy. They also contain a number of important and valuable metals. It is critical to investigate the impact of these new materials or volume sources on the metal market dynamics. This paper investigates the impact of responsible recycling within the European region on metal price volatility. As far as we know, no empirical studies have been conducted to assess the role of metal recycling in metal market price volatility. The goal of this paper is to test the claim that metal recycling helps to cushion price volatility. A set of circular economy indicators/variables, namely, 1) annual total trade values of recycled metals, 2) annual volume of scrap traded and 3) circular material use rate, and 4) information about recycling, are used to estimate the volatility of monthly spot prices of regular metals. A combination of the GARCH-MIDAS model for mixed frequency data sampling and a simple GARCH (1,1) model for the same frequency variables was adopted to examine the potential links between each variable and price volatility. We discovered that from 2010 to 2019, except for Nickel, scrap consumption (Millions of tons), Scrap Trade Values, and Recycled Material use rate had no significant impact on the price volatility of standard metals (Aluminum, Lead) and precious metals (Gold and Platinum). Worldwide interest in recycling has no impact on returns or volatility. Specific interest in metal recycling did have a link to the mean return equation for Aluminum, Gold and to the volatility equation for lead and Nickel.

Keywords: recycling, circular economy, price volatility, GARCH, mixed data sampling

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Authors: Runlin Liu, Shilong Li

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China is a mountainous country, with two-thirds of its territory covered by plateaus, hills, and mountains, and nearly half of the cities and towns are distributed in mountainous areas. Compared with the environmental constraints in the development path of cities and towns in the plains, there are heterogeneities in aspects such as spatial characteristics, growth mode, and ecological protection and so on for mountain village and townlets, and the development path of mountain village and townlets has a bidirectional relationship between mountain space and economic growth. Based on classical growth theory, this article explores the two-dimensional coupling relation between space and economy in mountain village and townlets under background of rural rejuvenation. GIS technology is adopted in the study to analyze spatial trends and patterns, economical spatial differentiation characteristics of village and townlets. This powerful tool can also help differentiate and analyze limiting factors and assessment systems in the economic growth of village and townlets under spatial dimension of mountainous space. To make the research more specific, this article selects mountain village and townlets in Southwest China as the object of study; this provides good cases for analyzing parallel coupling mechanism of the duality structure system between economic growth and spatial expansion and discussing the path selection of spatial economic growth of mountain village and towns with multiple constraints. The research results can provide quantitative references for the spatial and economic development paths of mountain villages and towns, which is helpful in realizing efficient and high-quality development mode with equal emphasis on spatial and economic benefits for these type of towns.

Keywords: coupling mechanism, geographic information technology, mountainous town, synergetic development, spatial economy

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Authors: E. A. Tkachenko, E. M. Rogova, A. S. Osipenko

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The problems of technological development for the Russian Federation take on special significance in the context of modernization of the production base. The complexity of the position of the Russian economy is that it cannot be attributed fully to developing ones. Russia is a strong industrial power that has gone through the processes of destructive de-industrialization in the conditions of changing its economic and political structure. The need to find ways for re-industrialization is not a unique task for the economies of industrially developed countries. Under the influence of production outsourcing for 20 years, the industrial potential of leading economies of the world was regressed against the backdrop of the ascent of China, a new industrial giant. Therefore, methods, tools, and techniques utilized for industrial renaissance in EU may be used to achieve a technological leap in the Russian Federation, especially since the temporary gap of 5-7 years makes it possible to analyze best practices and use those technological transfer tools that have shown the greatest efficiency. In this article, methods of technological transfer are analyzed, the role of technological audit is justified, and factors are analyzed that influence the successful process of commercialization of technologies.

Keywords: technological transfer, productivity, technological audit, commercialization of technologies

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Authors: Aniket Ganvir, Ritarani Sahu, Suchismita Chinara

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The rapid digitization of various aspects of life is leading to the creation of smart IoT ecosystems, where interconnected devices generate significant amounts of valuable data. However, these IoT devices face constraints such as limited computational resources and bandwidth. Cloud computing emerges as a solution by offering ample resources for offloading tasks efficiently despite introducing latency issues, especially for time-sensitive applications like fog computing. Fog computing (FC) addresses latency concerns by bringing computation and storage closer to the network edge, minimizing data travel distance, and enhancing efficiency. Offloading tasks to fog nodes or the cloud can conserve energy and extend IoT device lifespan. The offloading process is intricate, with tasks categorized as full or partial, and its optimization presents an NP-hard problem. Traditional greedy search methods struggle to address the complexity of task offloading efficiently. To overcome this, the efficient crow search algorithm (ECSA) has been proposed as a meta-heuristic optimization algorithm. ECSA aims to effectively optimize computation offloading, providing solutions to this challenging problem.

Keywords: IoT, fog computing, task offloading, efficient crow search algorithm

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Authors: George Lin

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This study examines a practice in which Chinese municipal governments actively pursue momentary and spectacular urbanism through the hosting of mega-events as an instrument to reproduce urban space for the enhancement of place competitiveness and advancement of political career. Practicing event-driven spectacular urbanism is found to have a short-term impact upon the economy and an effect upon the career advancement of the party secretary more than the mayor. Hosting mega-events has been used as a means to create “a harmonious society” and unified social space whereby grievance and discontents are grossed over, ignored, excluded and marginalized. Geographically, a new urban space has been created for the central city to reassert/consolidate its leading competitive position in the regional and national economy at the expense of the disadvantaged and marginalized. Findings of this research call for a critical re-evaluation of the sophisticated state-space inter-relations in the ongoing processes of planetary urbanization and global urban revolution in which China has taken an important part.

Keywords: Chinese cities, mega events, urbanism, urbanization

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Authors: Adji Achmad Rinaldo Fernandes

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Path analysis is an analytical technique to study the causal relationship between independent and dependent variables. In this study, the integration of Clusters in the Ward Linkage method was used in a variety of clusters with path analysis. The variables used are character (x₁), capacity (x₂), capital (x₃), collateral (x₄), and condition of economy (x₄) to on time pay (y₂) through the variable willingness to pay (y₁). The purpose of this study was to compare the Ward Linkage method cluster integration in various clusters with path analysis to classify willingness to pay (y₁). The data used are primary data from questionnaires filled out by customers of Bank X, using purposive sampling. The measurement method used is the average score method. The results showed that the Ward linkage method cluster integration with path analysis on 2 clusters is the best method, by comparing the coefficient of determination. Variable character (x₁), capacity (x₂), capital (x₃), collateral (x₄), and condition of economy (x₅) to on time pay (y₂) through willingness to pay (y₁) can be explained by 58.3%, while the remaining 41.7% is explained by variables outside the model.

Keywords: cluster integration, linkage, path analysis, compliant paying behavior

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Authors: D. Tappi

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In the past decades, the idea of innovation moved from being considered the result of development to being seen as its means. Innovation and its diffusion are indeed keys to the development and economic catch-up of a country. However, the process of diffusing existing innovation in low income countries has demonstrated dependent on inadequate infrastructures and institutions. The paper examines the role of disruptive innovation in bridging the technology gap between high- and low-income countries, overcoming the lack in infrastructures and institutions. In particular, the focus of this paper goes to the role of disruptive innovation in people transportation in Nigeria. Uber, Taxify, and Smartcab are covering a small and interesting market that was underserved, between the high-end private driver markets, the personal car owners and the low-priced traditional cab and the Keke (tricycle). Indeed the small Nigerian middle class and international community have found in the sharing people transportation market a safe, reasonably priced means of transportation in Nigerian big cities. This study uses mainly qualitative data collection methods in the form of semi-structured interviews with major players and users and quantitative data analysis in the form of a survey among users in order to assess the role of these new transportation modes in shaping the market and even creating a new niche. This paper shows how the new sharing economy in people transportation is creating new solutions to old problems as well as creating new challenges for both the existing market players and institutions. By doing so, the paper shows how disruptive innovations applied to low income countries, not only can overcome the lacking infrastructure problem but could also help bridge the technology gap between those and high income countries. This contribution proves that it is indeed exactly because the market presents these obstacles that disruptive innovations can succeed in countries such as Nigeria.

Keywords: development, disruptive innovation, sharing economy, technology gap

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Authors: Dieter Veldsman, Theo Heyns Veldsman

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The knowledge economy demands an organisation that is flexible, adaptable and able to navigate the ever-changing environment. This fast-paced environment has however resulted in an organizational landscape that battles to engage employees, retain top talent and create meaningful work for its members. In the knowledge economy, the concept of organizational identity has become an important consideration as organisations aim to create a compelling and inviting narrative for all stakeholders across the business value chain. Values are often seen as the behavioural framework that informs organisational culture, yet often values are perceived to be inauthentic and misaligned with the true character or identity of the organisation and how it is perceived by different role players. This paper focuses on exploring the relationship between organisational identity and value systems by focusing on a case study within a multi-national organisation within South Africa. The paper evaluates the implementation of mixed methods OD approach that gathered collaborative inputs of more than 4500 employees who participated in crafting the newly established values system post a retrenchment process. The paper will evaluate the relationship between the newly crafted value system and the identity of the organisation as described by various internal and external stakeholders in order to explore potential alignment, dissonance and key insights into understanding the relationship between organisational identity and values. The case study will be reported from the perspective of an OD consultant who supported the transformation process over a period of 8 months and aims to provide key insights into values and identity alignment within knowledge economy organisations. From a practical perspective, the paper provides insights into how values are created, perceived and lived within organisations and the impact on employee engagement and culture.

Keywords: culture, organisational development, organisational identity, values

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Authors: Samuel A. Muyiwa

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Religious chauvinism has attained an alarming status in Contemporary Nigerian society. Arguably, Nigeria is the largest economy and most populous nation in Africa with over 182 million people, the advantages offer by vibrant economy and high population have been sacrificed on the altar of religion. Tolerance, sacrifice, humility, compassion, love, justice, trustworthiness, dedication to the well-being of others, and unity are the universal spiritual principles that lie at the heart of any religion either Christianity or Islam even traditional. Whereas traditional religious practices foreground the beliefs, norms and ritual that are related to the sacred being God because of its quick and immediate consequence of its effect, the new-found religious sentiments have deviated from the norms, thus undermining cosmic harmony in Nigeria because of its long-time consequence of its effect. Religion, which is expected to accelerate growth and motivate people to develop spiritual nuances for the betterment of their communities, has, however occasioned conflict and violence in Nigeria socio-political cosmo. Therefore, this study examines the content of religion in the promotion of peace and unity and its contextual missing link in the promotion of conflict and violence in Nigeria.

Keywords: religion chauvinism, Nigeria, conflict, conflict resolution

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Authors: Joy Olayemi Gbala, Fatai Olatokunbo, Philip Cloud

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Catastrophic dictatorship has been discovered to be the major leadership challenge that orchestrates stagnated and contrasted economy with dysfunctional democracy in Africa through willful misappropriation of resources and egregious subversion of the rule of law. Almost invariably, most African leaders inexplicably often become power drunk and addicted which usually leads to abuse of state power, abdication of constitutional duties, unjustly withdrawal of business license of operation, human right violation, election malpractices, financial corruption, disruptions of policies of democratic government transition, annulment of free and fair election, and disruptions of legal electoral procedures and unachievable dividends of democracy and many more. Owing to this, most African nations have gone and still go through political unrest and insurgencies leading to loss of lives and property, violent protests, detention of detractors and political activists and massive human displacement. This research work is concerned with, and investigates the causes, menace, consequences and impacts of subverting the rule of law in Africa on the economy and the development of the continent with a suggested practical solution to the plights.

Keywords: corruption, law, leadership, violation

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Authors: Joanna Konstantinou

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The study is about the challenges faced by entrepreneurs in a crisis context and in turbulent economies. The scope is to determine which factors, if any, are related to the success of a new business venture, such as innovation, access to funding and capital, enhanced digital skills, employment relations and organizational culture as well as a company’s strategic orientation towards international markets. The crisis context has been recorded to have affected the number of SMEs in the Greek economy, the number of people employed as well as the volume of the output produced. Although not all SMEs have been equally impacted by the crisis, which has been identified to affect certain sectors more than others, and although research is not exhaustive in that end, employment relations and patterns, firm’s age, and innovation practices in relation to employees’ learning curve seem to have a positive correlation with the successful survival and resilience of the firm. The aim is to identify important factors that can contribute positively to the success of a startup business, and that will allow businesses to acquire resilience and survive economic adversities, and it will focus on businesses of the Greek economy, the country with the longer lasting economic crisis and the findings will be lessons to learn for other economies.

Keywords: entrepreneurship, innovation, crisis, challenges

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Authors: Emma Serwaa Obobisa, Winifred Essaah

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Significant worldwide trends including urbanization, industrialization, globalization, and the impending digitization have all contributed to human prosperity. However, the majority of these advancements fail to take sustainability into account, which caused the earth to manifest its retaliation in many forms. Since the world is already well-advanced, mankind needs a mature development that instills sustainability in its acts. As a result, the United Nations established the Sustainable Development Goals (SDGs), which set forth guidelines for human behavior to ensure that the ecosystem and mankind coexist as a unified, autonomous system. The study investigates the role of eco-innovation, renewable energy consumption, human capital, environmental tax, and natural resources in achieving European Union countries' sustainable development goals. The results show that eco-innovation, renewable energy consumption, human capital, and environmental tax have a negative relationship with consumption-based CO₂ emissions but a positive relationship with natural resources. These findings suggest that governments in European Union countries commit to encouraging environmentally friendly technology advances and green investment. It also stresses the need to enforce regulations that regulate the activities of polluting firms in the region with strictness.

Keywords: sustainable development, Eco-innovation, renewable energy, CO₂ emissions

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Authors: Reeden Bicomong

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Ecotourism activities, though geared towards conservation efforts, still put pressures against the natural state of the environment. Influx of visitors that goes beyond carrying capacity of the ecotourism site, the wastes generated, greenhouse gas emissions, are just few of the potential negative impacts of a not well-managed ecotourism activities. According to Girard and Nocca (2017) tourism produces many negative impacts because it is configured according to the model of linear economy, operating on a linear model of take, make and dispose (Ellen MacArthur Foundation 2015). With the influx of tourists in an ecotourism area, more wastes are generated, and if unregulated, natural state of the environment will be at risk. It is in this light that a study on waste analysis and classification study in five different ecotourism sites of Samal Island, Philippines was conducted. The major objective of the study was to analyze the amount and content of wastes generated from ecotourism sites in Samal Island, Philippines and make recommendations based on the circular economy perspective. Five ecotourism sites in Samal Island, Philippines was identified such as Hagimit Falls, Sanipaan Vanishing Shoal, Taklobo Giant Clams, Monfort Bat Cave, and Tagbaobo Community Based Ecotourism. Ocular inspection of each ecotourism site was conducted. Likewise, key informant interview of ecotourism operators and staff was done. Wastes generated from these ecotourism sites were analyzed and characterized to come up with recommendations that are based on the concept of circular economy. Wastes generated were classified into biodegradables, recyclables, residuals and special wastes. Regression analysis was conducted to determine if increase in number of visitors would equate to increase in the amount of wastes generated. Ocular inspection indicated that all of the five ecotourism sites have their own system of waste collection. All of the sites inspected were found to be conducting waste separation at source since there are different types of garbage bins for all of the four classification of wastes such as biodegradables, recyclables, residuals and special wastes. Furthermore, all five ecotourism sites practice composting of biodegradable wastes and recycling of recyclables. Therefore, only residuals are being collected by the municipal waste collectors. Key informant interview revealed that all five ecotourism sites offer mostly nature based activities such as swimming, diving, site seeing, bat watching, rice farming experiences and community living. Among the five ecotourism sites, Sanipaan Vanishing Shoal has the highest average number of visitors in a weekly basis. At the same time, in the wastes assessment study conducted, Sanipaan has the highest amount of wastes generated. Further results of wastes analysis revealed that biodegradables constitute majority of the wastes generated in all of the five selected ecotourism sites. Meanwhile, special wastes proved to be the least generated as there was no amount of this type was observed during the three consecutive weeks WACS was conducted.

Keywords: Circular economy, ecotourism, sustainable development, WACS

Procedia PDF Downloads 193

Authors: Jayakrishnan U.

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A concept of adding two strokes to a four stroke Otto or Diesel engine cycle presented here for the waste heat recovery in a four stroke internal combustion engine. Four stroke Diesel cycle and Otto cycle engines have very low thermal efficiency due to high amount of energy loss in exhaust and also on the cooling of the engine. It is estimated about 35 percent of fuel energy is lost in exhaust of engine and 30 percent in cooling of engine. So by modifying a four-stroke Otto or Diesel engine by adding two-stroke heat recovery steam cycle is presented here. Water injection is used to get an additional power stroke by partial compression of the exhaust gases at the end of third stroke in a four stroke I.C.Engine. It is the conversion of a four-stroke cycle to a six-stroke cycle. By taking a four stroke petrol engine of known dimensions, an ideal thermodynamic model is used to analyse and calculate the events of exhaust gas compression and following two strokes of water injection. By changing the exhaust valve closing timing during exhaust stroke and analysing it on various points, an optimum amount of exhaust gas re-compression and amount of water injection can be found for maximizing efficiency and fuel economy. It is achieved by changing the exhaust valve timing and finding an optimum amount of exhaust re-compression, maximizing the net mean effective pressure of the steam expansion stroke (MEPsteam). Specific fuel consumption of the engine also decreases increasing the fuel economy. The valve closing timings for maximum MEPsteam is limited by either 1 bar or dew point temperature of expansion gas or moisture mixture to avoid moisture formation. By modifying the four-stroke Otto or Diesel cycle by adding two water injection stroke has the potential to significantly increase the engine efficiency and fuel economy.

Keywords: internal combustion engine, engine efficiency, six-stroke cycle, water injection, specific fuel consumption

Procedia PDF Downloads 280

Authors: Gunnar Oskarsson, Gudjon Helgi Egilsson

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Due to globalization, small and medium-sized enterprises (SME) increasingly offer their products and services in foreign markets. The main reasons are either to compensate for a decreased market share in their home market or to exploit opportunities in foreign markets, which are becoming less distant and better accessible than before. International markets are particularly important for companies located in a small economy and offering specialized products. Although more accessible, entering international markets is both expensive and difficult. In order to select the most appropriate markets, it is, therefore, important to gain an insight into the factors that have an impact on success, or potential failure. Although there has been a reasonable volume of research into the theory of internationalization, there is still a need to gain further understanding of the decision-making process of SMEs in small economies and the most important characteristics that distinguish between success and failure. The main objective of this research is to enhance knowledge on the internationalization of SMEs, including the drivers for the decision to internationalize, and the most important factors contributing to success in their internationalization activities. A qualitative approach was found to be most appropriate for this kind of research, with the objective of gaining a deeper understanding and discovering factors which impact a company’s decision-making and potential success. In-depth interviews were conducted with 14 companies in different industries located in Iceland, a country extensively dependent on export revenues. The interviews revealed several factors as drivers of internationalization and, not surprisingly, the most frequently mentioned source of motivation was that the local market is inadequate to maintain a sustainable operation. Good networking relationships were seen as a particular priority for potential success, searching for new markets was mainly carried out through the internet, although sales exhibitions and sales trips were also considered important. When it comes to the final decision as to whether a market should be considered for further analysis, economy, labor cost, legal environment, and cultural barriers were the most common factors to be weighted. The ultimate answer to successful internationalization, however, is largely dependent on a coordinated and experienced management team. The main contribution of this research is offering an insight into factors affecting decision-making in the internationalization process of SMEs, based on the opinion and experience of managers of SMEs in a small economy.

Keywords: internationalization, success factors, small and medium-sized enterprises (SMEs), drivers, decision making

Procedia PDF Downloads 221

Authors: A. Bahar Ganiyeva, M. Sabuhi Tanriverdiyev

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The article analyzes state support and policy mechanisms aimed at driving tourism as one of the vibrant and rapidly developing economies. State programs and long-range strategic roadmaps and previous programs execution, results and their impact on the particular countries economy have been raised during the research. This theme provides a useful framework for discussions with a wider range of stakeholders as the implications arising are of importance both for academics and practitioners engaged in hospitality and tourism development and research. The impact that tourism has on sustainable regional development in emerging markets is highly substantial. For Azerbaijan, Turkey, Georgia, and Russia, with their rich natural resources and cultural heritage, tourism can be an important basis for economic expansion, and a way to form an acceptable image of the countries as safe, open, hospitable, and complex.

Keywords: Sustainable tourism, hospitality, destination, strategic roadmap, tourism, economy, growth, state support, mechanism, policy formation, state program

Procedia PDF Downloads 132

Authors: Sabry A. El Azazy

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Tourism plays an essential role in supporting the National Economy. Egypt was ranked as one of the most attractive touristic destinations worldwide. Tourism as a service sector affects political events and unstable conditions. Within the revolution of January 25th, 2011, tourism became below standards, and the archeological heritage sites were subject to threat. Because of the political tension and social instability, Egypt's tourism sector has drastically dropped. Currently, Egypt is working on overcoming the crisis caused by political unrest. However, it is expected to take a long time to get back to where it was, especially in terms of regaining the confidence of travelers in the country's ability to guarantee and maintain security and stability. Recently, many great projects have been done, such as; New Administrative Cairo Capital, New Suez Canal logistic project, New City of Al Alamin, New Grand Egyptian Museum, as well as other great projects that reflect positively on the tourism industry and archaeological heritage development in Egypt.

Keywords: archaeology, archaeological heritage, attractions, national economy, political events, touristic destinations, tourism industry

Procedia PDF Downloads 147

Authors: Varsha Rainson

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Artificial intelligence (AI) has great potential and can be used as a powerful tool of application in various domains and sectors. But with the application of AI, there comes a wide spectrum of concerns around bias, accountability, transparency, and privacy. Hence, there is a need for responsible AI, which can uphold ethical and accountable practices to ensure that things are transparent and fair. The paper is a combination of AI and cultural heritage preservation, with a greater focus on India because of the rich cultural legacy that it holds. India’s cultural heritage in itself contributes to its identity and the economy. In this paper, along with discussing the impact culture holds on the Indian economy, we will discuss the threats that the cultural heritage is exposed to due to pollution, climate change and urbanization. Furthermore, the paper reviews some of the exciting applications of AI in cultural heritage preservation, such as 3-D scanning, photogrammetry, and other techniques which have led to the reconstruction of cultural artifacts and sites. The paper eventually moves into the potential risks and challenges that AI poses in cultural heritage preservation. These include ethical, legal, and social issues which are to be addressed by organizations and government authorities. Overall, the paper strongly argues the need for responsible AI and the important role it can play in preserving India’s cultural heritage while holding importance to value and diversity.

Keywords: responsible AI, cultural heritage, artificial intelligence, biases, transparency

Procedia PDF Downloads 161