Search results for: enterprise systems
9082 Identification of the Relationship Between Signals in Continuous Monitoring of Production Systems
Authors: Maciej Zaręba, Sławomir Lasota
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Understanding the dependencies between the input signal, that controls the production system and signals, that capture its output, is of a great importance in intelligent systems. The method for identification of the relationship between signals in continuous monitoring of production systems is described in the paper. The method discovers the correlation between changes in the states derived from input signals and resulting changes in the states of output signals of the production system. The method is able to handle system inertia, which determines the time shift of the relationship between the input and output.Keywords: manufacturing operation management, signal relationship, continuous monitoring, production systems
Procedia PDF Downloads 729081 Management Control Systems in Post-Incubation: An Investigation of Closed Down High-Technology Start-Ups
Authors: Jochen Edmund Kerschenbauer, Roman Salinger, Daniel Strametz
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Insufficient informal communication systems can lead to the first crisis (‘Crisis of Leadership’) for start-ups. Management Control Systems (MCS) are one way for high-technology start-ups to successfully overcome these problems. So far the literature has investigated the incubation of a start-up, but focused less on the post-incubation stage. This paper focuses on the use of MCS in post-incubation and, if failed start-ups agree, on how MCS are used. We conducted 14 semi-structured interviews for this purpose, to obtain our results. The overall conclusion is that the majority of the companies were closed down due to a combination of strategic, operative and financial reasons.Keywords: closed down, high-technology, incubation, levers of control, management control systems, post-incubation, start-ups
Procedia PDF Downloads 10769080 The Impact of Direct and Indirect Pressure Measuring Systems on the Pressure Mapping for the Medical Compression Garments
Authors: Arash M. Shahidi, Tilak Dias, Gayani K. Nandasiri
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While graduated compression is the foundation of treatment and management of many medical complications such as leg ulcer, varicose veins, and lymphedema, monitoring the interface pressure has been conducted using different sensors that operate based on diverse approaches. The variations existed from the pressure readings collected using different interface pressure measurement systems would cause difficulties in taking a decision regarding the compression therapy. It is crucial to acknowledge the differences existing between direct and indirect pressure measurement systems while considering the commercially available systems such as AMI, Picopress and OPM which are under direct measurements systems, and HATRA (BSI), HOSY (RAL-GZ) and FlexiForce which comes under the indirect measurement system. Furthermore, Piezo-resistive sensors (Flexiforce) can measure the changes in resistance corresponding to the applied force on the sensing area. Direct pressure measuring systems are capable of measuring interface pressure on the three-dimensional states, while the indirect pressure measuring systems stretch the fabric in the two-dimensional direction and extrapolate pressure from surface tension measured on the device and neglect the vital factor which is the radius of curvature. In this study, a leg mannequin of known dimensions is selected with a knitted class 3 compression stocking. It has been decided to evaluate the data collected from different available systems (AMI, PicoPress, FlexiForce, and HATRA) and compare the results. The results showed a discrepancy between Hatra, AMI, Picopress, and Flexiforce against the pressure standard used to generate class 3 compression stocking. As predicted a higher pressure value with direct interface measuring systems were monitored against HATRA due to the effect of the radius of curvature.Keywords: AMI, FlexiForce, graduated compression, HATRA, interface pressure, PicoPress
Procedia PDF Downloads 3259079 The Human Resource Management Systems and Practices of Multinational Companies in Their Nigerian Subsidiaries
Authors: Suwaiba Sabiu Bako, Yaw Debrah
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In spite of the extensive literature available on the human resource management (HRM) systems and practices of multinational companies (MNCs) from developed countries, there are gaps concerning emerging countries’ multinational companies’ (EMNCs) HRM systems and practices. This study examines the transfer of HRM practices in Nigerian subsidiaries of MNCs from South Africa. It reveals that South MNCs hybridise their recruitment and selection processes and localise their compensation and employee relations. It also proves that performance appraisal, talent management and code of conduct practices are largely transferred to subsidiaries with minimal adaptation.Keywords: EMNCs, HRM practices, HRM systems, Nigeria, South Africa
Procedia PDF Downloads 879078 Optimal Capacitor Placement in Distribution Systems
Authors: Sana Ansari, Sirus Mohammadi
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In distribution systems, shunt capacitors are used to reduce power losses, to improve voltage profile, and to increase the maximum flow through cables and transformers. This paper presents a new method to determine the optimal locations and economical sizing of fixed and/or switched shunt capacitors with a view to power losses reduction and voltage stability enhancement. General Algebraic Modeling System (GAMS) has been used to solve the maximization modules using the MINOS optimization software with Linear Programming (LP). The proposed method is tested on 33 node distribution system and the results show that the algorithm suitable for practical implementation on real systems with any size.Keywords: power losses, voltage stability, radial distribution systems, capacitor
Procedia PDF Downloads 6319077 Fuzzy Inference System for Risk Assessment Evaluation of Wheat Flour Product Manufacturing Systems
Authors: Yas Barzegaar, Atrin Barzegar
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The aim of this research is to develop an intelligent system to analyze the risk level of wheat flour product manufacturing system. The model consists of five Fuzzy Inference Systems in two different layers to analyse the risk of a wheat flour product manufacturing system. The first layer of the model consists of four Fuzzy Inference Systems with three criteria. The output of each one of the Physical, Chemical, Biological and Environmental Failures will be the input of the final manufacturing systems. The proposed model based on Mamdani Fuzzy Inference Systems gives a performance ranking of wheat flour products manufacturing systems. The first step is obtaining data to identify the failure modes from expert’s opinions. The second step is the fuzzification process to convert crisp input to a fuzzy set., then the IF-then fuzzy rule applied through inference engine, and in the final step, the defuzzification process is applied to convert the fuzzy output into real numbers.Keywords: failure modes, fuzzy rules, fuzzy inference system, risk assessment
Procedia PDF Downloads 759076 Transmission Network Expansion Planning in Deregulated Power Systems to Facilitate Competition under Uncertainties
Authors: Hooshang Mohammad Alikhani, Javad Nikoukar
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Restructuring and deregulation of power industry have changed the objectives of transmission expansion planning and increased the uncertainties. Due to these changes, new approaches and criteria are needed for transmission planning in deregulated power systems. The objective of this research work is to present a new approach for transmission expansion planning with considering new objectives and uncertainties in deregulated power systems. The approach must take into account the desires of all stakeholders in transmission expansion planning. Market based criteria must be defined to achieve the new objectives. Combination of market based criteria, technical criteria and economical criteria must be used for measuring the goodness of expansion plans to achieve market requirements, technical requirements, and economical requirements altogether.Keywords: deregulated power systems, transmission network, stakeholder, energy systems
Procedia PDF Downloads 6299075 Modified Model-Based Systems Engineering Driven Approach for Defining Complex Energy Systems
Authors: Akshay S. Dalvi, Hazim El-Mounayri
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The internal and the external interactions between the complex structural and behavioral characteristics of the complex energy system result in unpredictable emergent behaviors. These emergent behaviors are not well understood, especially when modeled using the traditional top-down systems engineering approach. The intrinsic nature of current complex energy systems has called for an elegant solution that provides an integrated framework in Model-Based Systems Engineering (MBSE). This paper mainly presents a MBSE driven approach to define and handle the complexity that arises due to emergent behaviors. The approach provides guidelines for developing system architecture that leverages in predicting the complexity index of the system at different levels of abstraction. A framework that integrates indefinite and definite modeling aspects is developed to determine the complexity that arises during the development phase of the system. This framework provides a workflow for modeling complex systems using Systems Modeling Language (SysML) that captures the system’s requirements, behavior, structure, and analytical aspects at both problem definition and solution levels. A system architecture for a district cooling plant is presented, which demonstrates the ability to predict the complexity index. The result suggests that complex energy systems like district cooling plant can be defined in an elegant manner using the unconventional modified MBSE driven approach that helps in estimating development time and cost.Keywords: district cooling plant, energy systems, framework, MBSE
Procedia PDF Downloads 1169074 On the Mathematical Modelling of Aggregative Stability of Disperse Systems
Authors: Arnold M. Brener, Lesbek Tashimov, Ablakim S. Muratov
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The paper deals with the special model for coagulation kernels which represents new control parameters in the Smoluchowski equation for binary aggregation. On the base of the model the new approach to evaluating aggregative stability of disperse systems has been submitted. With the help of this approach the simple estimates for aggregative stability of various types of hydrophilic nano-suspensions have been obtained.Keywords: aggregative stability, coagulation kernels, disperse systems, mathematical model
Procedia PDF Downloads 2929073 The Impact of Intelligent Control Systems on Biomedical Engineering and Research
Authors: Melkamu Tadesse Getachew
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Intelligent control systems have revolutionized biomedical engineering, advancing research and enhancing medical practice. This review paper examines the impact of intelligent control on various aspects of biomedical engineering. It analyzes how these systems enhance precision and accuracy in biomedical instrumentation, improving diagnostics, monitoring, and treatment. Integration challenges are addressed, and potential solutions are proposed. The paper also investigates the optimization of drug delivery systems through intelligent control. It explores how intelligent systems contribute to precise dosing, targeted drug release, and personalized medicine. Challenges related to controlled drug release and patient variability are discussed, along with potential avenues for overcoming them. The comparison of algorithms used in intelligent control systems in biomedical control is also reviewed. The implications of intelligent control in computational and systems biology are explored, showcasing how these systems enable enhanced analysis and prediction of complex biological processes. Challenges such as interpretability, human-machine interaction, and machine reliability are examined, along with potential solutions. Intelligent control in biomedical engineering also plays a crucial role in risk management during surgical operations. This section demonstrates how intelligent systems improve patient safety and surgical outcomes when integrated into surgical robots, augmented reality, and preoperative planning. The challenges associated with these implementations and potential solutions are discussed in detail. In summary, this review paper comprehensively explores the widespread impact of intelligent control on biomedical engineering, showing the future of human health issues promising. It discusses application areas, challenges, and potential solutions, highlighting the transformative potential of these systems in advancing research and improving medical practice.Keywords: Intelligent control systems, biomedical instrumentation, drug delivery systems, robotic surgical instruments, Computational monitoring and modeling
Procedia PDF Downloads 209072 Thermodynamic Study of Homo-Pairs in Molten Cd-Me, (Me=Ga,in) Binary Systems
Authors: Yisau Adelaja Odusote, Olakanmi Felix Akinto
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The associative tendency between like atoms in molten Cd-Ga and Cd-In alloy systems has been studied by using the Quasi-Chemical Approximation Model (QCAM). The concentration dependence of the microscopic functions (the concentration-concentration fluctuations in the long-wavelength limits, Scc(0), the chemical short-range order (CSRO) parameter α1 as well as the chemical diffusion) and the mixing properties as the free energy of mixing, GM, enthalpy of mixing and entropy of mixing of the two molten alloys have been determined. Thermodynamic properties of both systems deviate positively from Raoult's law, while the systems are characterized by positive interaction energy. The role of atomic size ratio on the alloying properties was discussed.Keywords: homo-pairs, interchange energy, enthalpy, entropy, Cd-Ga, Cd-In
Procedia PDF Downloads 4199071 Impact of Climate Change on Water Resource Systems in Taiwan
Authors: Chia-Ling Chang, Hao-Bo Chang
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Global climate change alters rainfall characteristics, while the variation of these characteristics further influences environmental conditions, such as hydrologic responses, landslide areas, and the amounts of diffuse pollution. The variations of environmental conditions may impact the stability of water resource systems. The objective of this study is to assess the present conditions of major water resource systems in Taiwan. The impact of climate change on each system is also discussed herein. Compared to the water resource systems in northern Taiwan, the ratio of the precipitation during the rainy season to that during the dry season has a larger increase in southern Taiwan. This variation of hydrologic condition impacts the stability of water resource systems and increases the risk of normal water supply. The findings in this work can be important references for water resource management.Keywords: basin management, climate change, water resource system, water resource management
Procedia PDF Downloads 3569070 Interactive Systems in B2B Marketing: Perceptions of Sales Configurator Use
Authors: Tommi Mahlamaki, Mika Ojala
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Digitalization is changing our lives in many ways. As consumers, we are accustomed using different online interactive sales systems. However, while many online selling sites offer systems that have evolved from simple selling functions, the change has not been as rapid in business-to-business (B2B) markets. This is because many B2B companies rely on personal sales and personal communication. The main objective of this research is to clarify perceptions towards digital interactive sales systems and, more specifically, sales configurators. It also aims to identify trends towards the use of sales configurators. To reach these objectives, an online questionnaire was created that targets Finnish B2B distributors who are, by definition, part of B2B markets. The questionnaire was sent to 340 distributors, and it was returned by 150 respondents. The results showed that 82% of respondents had heard about sales configurators, and 64% had used them. The results also showed that 48% of respondents felt that the use of sales configurators would increase in the future, while only 2% felt they would be used less. The future use of sales configurators was not seen as affecting the level of personal sales. In light of the results, we recommend that B2B companies create marketing strategies that integrate and complement traditional sales processes with digital interactive systems.Keywords: digitalization, interactive systems, marketing, sales process
Procedia PDF Downloads 2239069 Detection of Nutrients Using Honeybee-Mimic Bioelectronic Tongue Systems
Authors: Soo Ho Lim, Minju Lee, Dong In Kim, Gi Youn Han, Seunghun Hong, Hyung Wook Kwon
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We report a floating electrode-based bioelectronic tongue mimicking honeybee taste systems for the detection and discrimination of various nutrients. Here, carbon nanotube field effect transistors with floating electrodes (CNT-FET) were hybridized with nanovesicles containing honeybee nutrient receptors, gustatory receptors of Apis mellifera. This strategy enables us to detect nutrient substance with a high sensitivity and selectivity. It could also be utilized for the detection of nutrients in liquid food. This floating electrode-based bioelectronic tongue mimicking insect taste systems can be a simple, but highly effective strategy in many different basic research areas about sensory systems. Moreover, our research provides opportunities to develop various applications such as food screening, and it also can provide valuable insights on insect taste systems.Keywords: taste system, CNT-FET, insect gustatory receptor, biolelectronic tongue
Procedia PDF Downloads 1949068 Proactive Approach to Innovation Management
Authors: Andrus Pedai, Igor Astrov
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The focus of this paper is to compare common approaches for Systems of Innovation (SI) and identify proactive alternatives for driving the innovation. Proactive approaches will also consider short and medium term perspectives with developments in the field of Computer Technology and Artificial Intelligence. Concerning computer technology and large connected information systems, it is reasonable to predict that during current or the next century, intelligence and innovation will be separated from the constraints of human-driven management. After this happens, humans will no longer be driving the innovation and there is possibility that SI for new intelligent systems will set its own targets and exclude humans. Over long time scale, these developments could result in a scenario, which will lead to the development of larger, cross galactic (universal) proactive SI and Intelligence.Keywords: artificial intelligence, DARPA, Moore’s law, proactive innovation, singularity, systems of innovation
Procedia PDF Downloads 4619067 Small Wind Turbine Hybrid System for Remote Application: Egyptian Case Study
Authors: M. A. Badr, A. N. Mohib, M. M. Ibrahim
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The objective of this research is to study the technical and economic performance of wind/diesel/battery (W/D/B) system supplying a remote small gathering of six families using HOMER software package. The electrical energy is to cater for the basic needs for which the daily load pattern is estimated. Net Present Cost (NPC) and Cost of Energy (COE) are used as economic criteria, while the measure of performance is % of power shortage. Technical and economic parameters are defined to estimate the feasibility of the system under study. Optimum system configurations are estimated for two sites. Using HOMER software, the simulation results showed that W/D/B systems are economical for the assumed community sites as the price of generated electricity is about 0.308 $/kWh, without taking external benefits into considerations. W/D/B systems are more economical than W/B or diesel alone systems, as the COE is 0.86 $/kWh for W/B and 0.357 $/kWh for diesel alone.Keywords: optimum energy systems, remote electrification, renewable energy, wind turbine systems
Procedia PDF Downloads 3859066 Calibration Methods of Direct and Indirect Reading Pressure Sensor and Uncertainty Determination
Authors: Sinem O. Aktan, Musa Y. Akkurt
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Experimental pressure calibration methods can be classified into three areas: (1) measurements in liquid or gas systems, (2) measurements in static-solid media systems, and (3) measurements in dynamic shock systems. Fluid (liquid and gas) systems high accuracies can be obtainable and commonly used for the calibration method of a pressure sensor. Pressure calibrations can be performed for metrological traceability in two ways, which are on-site (field) and in the laboratory. Laboratory and on-site calibration procedures and the requirements of the DKD-R-6-1 and Euramet cg-17 guidelines will also be addressed. In this study, calibration methods of direct and indirect reading pressure sensor and measurement uncertainty contributions will be explained.Keywords: pressure metrology, pressure calibration, dead-weight tester, pressure uncertainty
Procedia PDF Downloads 1309065 The Role of Microfinance in Economic Development
Authors: Babak Salekmahdy
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Microfinance is often seen as a means of repairing credit markets and unleashing the potential contribution of impoverished people who rely on self-employment. Since the 1990s, the microfinance industry has expanded rapidly, opening the path for additional kinds of social entrepreneurship and social investment. However, current data indicate relatively few average consumer effects, opposing pushback against microfinance. This research reconsiders microfinance statements, stressing the variety of data on impacts and the essential (but limited) role of reimbursements. The report finishes by explaining a shift in thinking: from microfinance as a strictly defined enterprise finance to microfinance as a more widely defined home finance. Microfinance, under this perspective, provides advantages by providing liquidity for various requirements rather than just by increasing income.Keywords: microfinance, small business, economic development, credit markets
Procedia PDF Downloads 679064 Cloud Effect on Power Generation of Grid-Connected Small PV Systems
Authors: Yehya Abdellatif, Ahmed Alsalaymeh, Iyad Muslih, Ali Alshduifat
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Photovoltaic (PV) power generation systems, mainly small scale, are rapidly being deployed in Jordan. The impact of these systems on the grid has not been studied or analyzed. These systems can cause many technical problems such as reverse power flows and voltage rises in distribution feeders, and real and reactive power transients that affect the operation of the transmission system. To fully understand and address these problems, extensive research, simulation, and case studies are required. To this end, this paper studies the cloud shadow effect on the power generation of a ground mounted PV system installed at the test field of the Renewable Energy Center at the Applied Science University.Keywords: photovoltaic, cloud effect, MPPT, power transients
Procedia PDF Downloads 5819063 Study of the Business Ethics Based on Daimler Bribery Case in China
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In order to study the business ethics of the international enterprise, the thirteenth-largest car manufacturer and second-largest truck manufacturer in the world, Daimler AG was taken as research object. At first, Daimler AG is briefly introduced and the bribery affairs of Daimler AG in China are simply reviewed. Subsequently, the causes of the bribery are discussed in depth and the manifestations of the value conflict are analyzed in detail. Based on the analyzed results, the reasons why they bribe are investigated. Furthermore, some proposals for improving business ethics of international enterprises are put forward based on the study of Daimler bribery case.Keywords: business ethics, Daimler AG, bribe, cultural conflict
Procedia PDF Downloads 3569062 Estimating the Life-Distribution Parameters of Weibull-Life PV Systems Utilizing Non-Parametric Analysis
Authors: Saleem Z. Ramadan
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In this paper, a model is proposed to determine the life distribution parameters of the useful life region for the PV system utilizing a combination of non-parametric and linear regression analysis for the failure data of these systems. Results showed that this method is dependable for analyzing failure time data for such reliable systems when the data is scarce.Keywords: masking, bathtub model, reliability, non-parametric analysis, useful life
Procedia PDF Downloads 5429061 Logical-Probabilistic Modeling of the Reliability of Complex Systems
Authors: Sergo Tsiramua, Sulkhan Sulkhanishvili, Elisabed Asabashvili, Lazare Kvirtia
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The paper presents logical-probabilistic methods, models and algorithms for reliability assessment of complex systems, based on which a web application for structural analysis and reliability assessment of systems was created. The reliability assessment process included the following stages, which were reflected in the application: 1) Construction of a graphical scheme of the structural reliability of the system; 2) Transformation of the graphic scheme into a logical representation and modeling of the shortest ways of successful functioning of the system; 3) Description of system operability condition with logical function in the form of disjunctive normal form (DNF); 4) Transformation of DNF into orthogonal disjunction normal form (ODNF) using the orthogonalization algorithm; 5) Replacing logical elements with probabilistic elements in ODNF, obtaining a reliability estimation polynomial and quantifying reliability; 6) Calculation of weights of elements. Using the logical-probabilistic methods, models and algorithms discussed in the paper, a special software was created, by means of which a quantitative assessment of the reliability of systems of a complex structure is produced. As a result, structural analysis of systems, research and designing of optimal structure systems are carried out.Keywords: Complex systems, logical-probabilistic methods, orthogonalization algorithm, reliability, weight of element
Procedia PDF Downloads 449060 Ecological impacts of Cage Farming: A Case Study of Lake Victoria, Kenya
Authors: Mercy Chepkirui, Reuben Omondi, Paul Orina, Albert Getabu, Lewis Sitoki, Jonathan Munguti
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Globally, the decline in capture fisheries as a result of the growing population and increasing awareness of the nutritional benefits of white meat has led to the development of aquaculture. This is anticipated to meet the increasing call for more food for the human population, which is likely to increase further by 2050. Statistics showed that more than 50% of the global future fish diet will come from aquaculture. Aquaculture began commercializing some decades ago; this is accredited to technological advancement from traditional to modern cultural systems, including cage farming. Cage farming technology has been rapidly growing since its inception in Lake Victoria, Kenya. Currently, over 6,000 cages have been set up in Kenyan waters, and this offers an excellent opportunity for recognition of Kenya’s government tactic to eliminate food insecurity and malnutrition, create employment and promote a Blue Economy. However, being an open farming enterprise is likely to emit large bulk of waste hence altering the ecosystem integrity of the lake. This is through increased chlorophyll-a pigments, alteration of the plankton community, macroinvertebrates, fish genetic pollution, transmission of fish diseases and pathogens. Cage farming further increases the nutrient loads leading to the production of harmful algal blooms, thus negatively affecting aquatic and human life. Despite the ecological transformation, cage farming provides a platform for the achievement of the Sustainable Development Goals of 2030, especially the achievement of food security and nutrition. Therefore, there is a need for Integrated Multitrophic Aquaculture as part of Blue Transformation for ecosystem monitoring.Keywords: aquaculture, ecosystem, blue economy, food security
Procedia PDF Downloads 589059 Decision Support System for a Pilot Flash Flood Early Warning System in Central Chile
Authors: D. Pinto, L. Castro, M. L. Cruzat, S. Barros, J. Gironás, C. Oberli, M. Torres, C. Escauriaza, A. Cipriano
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Flash floods, together with landslides, are a common natural threat for people living in mountainous regions and foothills. One way to deal with this constant menace is the use of Early Warning Systems, which have become a very important mitigation strategy for natural disasters. In this work, we present our proposal for a pilot Flash Flood Early Warning System for Santiago, Chile, the first stage of a more ambitious project that in a future stage shall also include early warning of landslides. To give a context for our approach, we first analyze three existing Flash Flood Early Warning Systems, focusing on their general architectures. We then present our proposed system, with main focus on the decision support system, a system that integrates empirical models and fuzzy expert systems to achieve reliable risk estimations.Keywords: decision support systems, early warning systems, flash flood, natural hazard
Procedia PDF Downloads 3559058 Design of Visual Repository, Constraint and Process Modeling Tool Based on Eclipse Plug-Ins
Authors: Rushiraj Heshi, Smriti Bhandari
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Master Data Management requires creation of Central repository, applying constraints on Repository and designing processes to manage data. Designing of Repository, constraints on repository and business processes is very tedious and time consuming task for large Enterprise. Hence Visual Repository, constraints and Process (Workflow) modeling is the most critical step in Master Data Management.In this paper, we realize a Visual Modeling tool for implementing Repositories, Constraints and Processes based on Eclipse Plugin using GMF/EMF which follows principles of Model Driven Engineering (MDE).Keywords: EMF, GMF, GEF, repository, constraint, process
Procedia PDF Downloads 4689057 Going Horizontal: Confronting the Challenges When Transitioning to Cloud
Authors: Harvey Hyman, Thomas Hull
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As one of the largest cancer treatment centers in the United States, we continuously confront the challenge of how to leverage the best possible technological solutions, in order to provide the highest quality of service to our customers – the doctors, nurses and patients at Moffitt who are fighting every day for the prevention and cure of cancer. This paper reports on the transition from a vertical to a horizontal IT infrastructure. We discuss how the new frameworks and methods such as public, private and hybrid cloud, brokering cloud services are replacing the traditional vertical paradigm for computing. We also report on the impact of containers, micro services, and the shift to continuous integration/continuous delivery. These impacts and changes in delivery methodology for computing are driving how we accomplish our strategic IT goals across the enterprise.Keywords: cloud computing, IT infrastructure, IT architecture, healthcare
Procedia PDF Downloads 3619056 Corporate Governance Development in Mongolia: The Role of Professional Accountants
Authors: Ernest Nweke
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The work of Professional Accountants and Corporate governance are synonymous and cannot be divorced from each other. Organizations, profit and non-profit alike cannot implement sound corporate practices without inputs from Professional Accountants. In today’s dynamic corporate world, good corporate governance practice is a sine qua non. More so, following the corporate failures of the past decades like Enron and WorldCom, governments around the world, including Mongolia are becoming more proactive in ensuring sound corporate governance mechanisms. In the past fifteen years, the Mongolian government has taken several measures to establish and strengthen internal corporate governance structures in firms. This paper highlights the role of professional accountants and auditors play in ensuring that good corporate governance mechanisms are entrenched in listed companies in Mongolia. Both primary and secondary data are utilized in this research. In collection of primary data, Delphi method was used, securing responses from only knowledgeable senior employees, top managers, and some CEOs. Using this method, a total of 107 top-level company employees and executives randomly selected from 22 companies were surveyed; maximum of 5 and minimum of 4 from each company. These companies cut across several sectors. It was concluded that Professional Accountants play key roles in setting and maintaining firm governance. They do this by ensuring full compliance with all the requirements of good and sound corporate governance, establishing reporting, monitoring and evaluating standards, assisting in the setting up of proper controls, efficient and effective audit systems, sound fraud risk management and putting in place an overall vision for the enterprise. Companies with effective corporate governance mechanisms are usually strong and fraud-resilient. It was also discovered that companies with big 4 audit firms tend to have better governance structures in Mongolia.Keywords: accountants, corporate disclosure, corporate failure, corporate governance
Procedia PDF Downloads 2549055 Stability of Solutions of Semidiscrete Stochastic Systems
Authors: Ramazan Kadiev, Arkadi Ponossov
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Semidiscrete systems contain both continuous and discrete components. This means that the dynamics is mostly continuous, but at certain instants, it is exposed to abrupt influences. Such systems naturally appear in applications, for example, in biological and ecological models as well as in the control theory. Therefore, the study of semidiscrete systems has recently attracted the attention of many specialists. Stochastic effects are an important part of any realistic approach to modeling. For example, stochasticity arises in the population dynamics, demographic and ecological due to a change in time of factors external to the system affecting the survival of the population. In control theory, random coefficients can simulate inaccuracies in measurements. It will be shown in the presentation how to incorporate such effects into semidiscrete systems. Stability analysis is an essential part of modeling real-world problems. In the presentation, it will be explained how sufficient conditions for the moment stability of solutions in terms of the coefficients for linear semidiscrete stochastic equations can be derived using non-Lyapunov technique.Keywords: abrupt changes, exponential stability, regularization, stochastic noises
Procedia PDF Downloads 1669054 Building Rating Systems: A Critical Review on Their Sustainability Compatibility
Authors: Divya Mohanan, Deepa G. Nair
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The most accepted international definition of sustainable development quoted from the Brundtland Report published in 1987 states that development that meets the needs of the present without compromising the ability of future generations to meet their own needs. This definition serves as a foundation for many fields including the building sector to consider sustainability and focuses on the three pillars of sustainability social, economic, and environment. The building industry due to its multi-faceted nature requires building codes, standards, and certification systems to effectively address the sustainability assessment. In the last decade, many buildings rating systems evolved that address sustainability in one way and many more are on the drawing boards yet to come. This paper attempts to offer a comprehensive literature review of seven popular building rating systems (LEED (US), BREEAM (UK), CASBEE (Japan), GRIHA, LEED, IGBC), scrutinizing their macro-areas, segments of sustainability and thus highlight the need for a framework which addresses the assessment of the building in terms of sustainability as a whole.Keywords: building rating systems, sustainability, LEED, BREEAM, CASBEE, GRIHA, IGBC
Procedia PDF Downloads 1419053 Resourcing Remote Rural Social Enterprises to Foster Resilience and Regional Development
Authors: Heather Fulford, Melanie Liddell
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The recruitment and retention of high quality employees can prove to be challenging for social enterprises, particularly in some of the core business support functions such as marketing, communications, IT and finance. This holds true for social enterprises in urban contexts, where roles with more attractive remuneration in these business functions can often be found quite readily in the private sector. For social enterprises situated in rural locations, the challenges of staff recruitment and retention are even more acute. Such challenges can lead to a skills deficit in rural social enterprises, which can, at best, hinder their growth potential, and worse, jeopardise their chances of survival. This in turn, can have a negative impact on the sustainability and resilience of the surrounding rural community in which the social enterprise is located. The purpose of this paper is to report on aspects of a collaborative initiative established to stimulate innovation and business growth in remote rural businesses in Scotland. Launched in 2010, this initiative was designed to attract young students and graduates from the region to stay in the region upon completion of their studies, and to attract others from outside the region to re-locate there post-university. To facilitate this, SMEs in the region were offered wage subsidies to encourage them to recruit a student or graduate on a work placement for up to one year to participate in an innovation or business growth-oriented project. A number of the employers offering work placements were social enterprises. Through analysis of the placement project and role specifications devised by the participating social enterprises, an overview is provided of their business development needs and the skills they require to stimulate innovation and growth. Scrutiny of the reflective accounts compiled by the students and graduates at the close of their work placements highlights the benefits they derived from being able to put their academic knowledge and skills into action within a social enterprise. Examination of interviews conducted with a sample of placement employers reveals the contribution the students and graduates made during the business development projects with the social enterprises. The challenges of hosting such placements are also discussed. The paper concludes with indications of the lessons learned and an outline of the wider implications for other remote rural locations in which social enterprises play an important role in the local economy and life of the community.Keywords: resilience, rural development, regeneration, regional development, recruitment, resource management, retention, remuneration
Procedia PDF Downloads 299