Search results for: innovation cost

Authors: Asma Moomal, Maslin Masrom

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The literature has identified that the competition among the business firms has been intensified due to the change in operating environment such as; knowledge diffusion, amount of R&D investments, and the adoption of technological innovation. Correspondingly, the E-business has potential to add a higher value to business and consumers in developed countries than in developing countries. However, the technological innovation (such as e-readiness) also considered as the major influential element on the firms competitiveness and development, Yet most of the developing countries including Pakistan failed to reap the benefits offered by modern information and communication technologies adoption (e-readiness), e-business and other innovative technologies. Thus, this paper reviewed the relevant literature in order to examine the barriers to the adoption of e-readiness and e-business in the organizations of Pakistan. The data collection technique used in this study was done through the secondary data resources (i.e. the existing literature analysis). The result of the study reveals that the most of the organizations of Pakistan like other developing countries are lagging behind in terms of adoption of e-readiness and e-business as compared to the developed countries of the world.

Keywords: e-readiness, e-business, potential, technological innovation

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Authors: Stephen Wheat

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Institutional mobile application governance and distribution processes are essential to mobile app innovation. The absence of effective processes poses a significant barrier to the development and adoption of mobile apps for use within a research enterprise and also impedes the translational science of applying research apps in clinical and engineering settings. To accelerate mobile app innovation and adoption, Emory University and Emory Healthcare implemented a three-pronged strategy including. I) Mobile app review and distribution policies and processes. II) Mobile app management infrastructure and mobile app foundation components. III) A strategic sourcing strategy based on preferred mobile app development firms. The results have been an increase from five to 56 mobile apps in the pipeline over three years; increased engagement from technology transfer, legal counsel, compliance, and information security; articulation of a coordinated mobile app strategy; and allocation of more institutional resources toward specific mobile technology and mobile application goals.

Keywords: mobile app management, governance, distribution, information security

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Authors: Rashid Farooq, Moazzam Naseer, Rehan Hasan

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Increasing challenges posed to the creativity in the discipline of advertising during time’s movement towards the maturity of The Third Wave – a concept of change by Toffler, have to be the major theme of this study. Creative concepts for the changing media landscape are becoming a challenge for the creative industry as Stein says that the usefulness is a dimension no creative work could avoid. Furthermore, Spencer points out that the global capitalist society provides a base for the development of digital technologies. Innovation within the discipline of creativity is reshaping this process. In this review article, the role of creativity and innovation in the development and delivery of the message has to be examined.

Keywords: advertising, creativity, ideation, new media

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Authors: Nouha Ben Salah, Mohamed Ali Omri

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This paper treats the association between disclosure level and the cost of equity capital in Tunisian’slisted firms. This relation is tested by using two models. The first is used for testing this relation directly by regressing firm specific estimates of cost of equity capital on market beta, firm size and a measure of disclosure level. The second model is used for testing this relation by introducing information asymmetry as mediator variable. This model is suggested by Baron and Kenny (1986) to demonstrate the role of mediator variable in general. Based on a sample of 21 non-financial Tunisian’s listed firms over a period from 2000 to 2004, the results prove that greater disclosure is associated with a lower cost of equity capital. However, the results of indirect relationship indicate a significant positive association between the level of voluntary disclosure and information asymmetry and a significant negative association between information asymmetry and cost of equity capital in contradiction with our previsions. Perhaps this result is due to the biases of measure of information asymmetry.

Keywords: cost of equity capital, voluntary disclosure, information asymmetry, and Tunisian’s listed non-financial firms

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Authors: Shaima Almalhan, Lubna Shukri, Miriam Talal, Safaa Teskieh

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Since artificial intelligence is a rapidly evolving topic that has had a significant impact on technical growth and innovation, this paper examines people's awareness, use, and engagement with the Google Translate application. To see how familiar aware users are with the app and its features, quantitative and qualitative research was conducted. The findings revealed that consumers have a high level of confidence in the application and how far people they benefit from this sort of innovation and how convenient it makes communication.

Keywords: artificial intelligence, google translate, speech recognition, language translation, camera translation, speech to text, text to speech

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Authors: Sawarni Hasibuan, Juliza Hidayati

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Competitiveness and sustainability issues not only put pressure on big companies, but also small and medium enterprises (SMEs). SMEs Batik Bogor is one of the local culture-based creative industries in Bogor city which is also dealing with the issue of sustainability. The purpose of this research is to develop framework of sustainability at SMEs Batik Indonesia case of SMEs Batik Bogor by integrating innovation of cleaner production in its supply chain. The approach used is desk study, field survey, in-depth interviews, and benchmarking best practices of SMEs sustainability. In-depth interviews involve stakeholders to identify the needs and standards of sustainability of SMEs Batik. Data analysis was done by benchmarking method, Multi Dimension Scaling (MDS) method, and Strength, Weakness, Opportunity, Threat (SWOT) analysis. The results recommend the framework of sustainability for SMEs Batik in Indonesia. The sustainability status of SMEs Batik Bogor is classified as Moderate Sustainable. Factors that support the sustainability of SMEs Batik Bogor such is a strong commitment of top management in adopting cleaner production innovation and creativity approach. Successful cleaner production innovations are implemented primarily in the substitution of dye materials from toxic to non-toxic, reducing the intensity of non-renewable energy use, as well as the reuse and recycle of solid waste. “Mosaic Batik” is one of the innovations of solid waste utilization of batik waste produced by company R&D center that gives benefit to three pillars of sustainability, that is financial benefit, environmental benefit, and social benefit. The sustainability of SMEs Batik Bogor cannot be separated from the support of Bogor City Government which proactively facilitates the promotion of sustainable innovation produced by SMEs Batik Bogor.

Keywords: cleaner production innovation, creativity, SMEs Batik, sustainability supply chain

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Authors: Ignitia Motjolopane

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Small and medium enterprises (SMEs) play an important role in economies by contributing to economic growth and employment. In the fourth industrial revolution, the convergence of technologies and the changing nature of work created pressures on economies globally. Generative artificial intelligence (AI) may support SMEs in exploring, exploiting, and transforming business models to align with their growth aspirations. SMEs' growth aspirations fall into four categories: subsistence, income, growth, and speculative. Subsistence-oriented firms focus on meeting basic financial obligations and show less motivation for business model innovation. SMEs focused on income, growth, and speculation are more likely to pursue business model innovation to support growth strategies. SMEs' strategic goals link to distinct business model innovation paths depending on whether SMEs are starting a new business, pursuing growth, or seeking profitability. Integrating generative artificial intelligence in start-up SME business model innovation enhances value creation, user-oriented innovation, and SMEs' ability to adapt to dynamic changes in the business environment. The existing literature may lack comprehensive frameworks and guidelines for effectively integrating generative AI in start-up reiterative business model innovation paths. This paper examines start-up business model innovation path with generative artificial intelligence. A theoretical approach is used to examine start-up-focused SME reiterative business model innovation path with generative AI. Articulating how generative AI may be used to support SMEs to systematically and cyclically build the business model covering most or all business model components and analyse and test the BM's viability throughout the process. As such, the paper explores generative AI usage in market exploration. Moreover, market exploration poses unique challenges for start-ups compared to established companies due to a lack of extensive customer data, sales history, and market knowledge. Furthermore, the paper examines the use of generative AI in developing and testing viable value propositions and business models. In addition, the paper looks into identifying and selecting partners with generative AI support. Selecting the right partners is crucial for start-ups and may significantly impact success. The paper will examine generative AI usage in choosing the right information technology, funding process, revenue model determination, and stress testing business models. Stress testing business models validate strong and weak points by applying scenarios and evaluating the robustness of individual business model components and the interrelation between components. Thus, the stress testing business model may address these uncertainties, as misalignment between an organisation and its environment has been recognised as the leading cause of company failure. Generative AI may be used to generate business model stress-testing scenarios. The paper is expected to make a theoretical and practical contribution to theory and approaches in crafting a robust business model innovation path with generative artificial intelligence in start-up SMEs.

Keywords: business models, innovation, generative AI, small medium enterprises

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Authors: Yu Zhang, Kohei Inoue, Kiichi Urahama

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We propose a simplified bilateral filter with binarized coefficients for accelerating it. Its computational cost is further decreased by sampling pixels. This computationally low cost filter is useful for smoothing or denoising images by using mobile devices with limited computational power.

Keywords: bilateral filter, binarized-weight bilateral filter, image smoothing, image denoising, pixel sampling

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Authors: Carolyn Hatch, Laurent Simon

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Urban mobility and the transportation industry are undergoing a transformation, shifting from an auto production-consumption model that has dominated since the early 20th century towards new forms of personal and shared multi-modality [1]. This is shaped by key forces such as climate change, which has induced a shift in production and consumption patterns and efforts to decarbonize and improve transport services through, for instance, the integration of vehicle automation, electrification and mobility sharing [2]. Advanced innovation practices and platforms for experimentation and validation of new mobility products and services that are increasingly complex and multi-stakeholder-oriented are shaping this new world of mobility. Transportation hubs – such as airports - are emblematic of these disruptive forces playing out in the mobility industry. Airports are emerging as the core of innovation ecosystems on and around contemporary mobility issues, and increasingly recognized as complex public/private nodes operating in many societal dimensions [3,4]. These include urban development, sustainability transitions, digital experimentation, customer experience, infrastructure development and data exploitation (for instance, airports generate massive and often untapped data flows, with significant potential for use, commercialization and social benefit). Yet airport innovation practices have not been well documented in the innovation literature. This paper addresses this gap by proposing a model of airport innovation that aims to equip airport stakeholders to respond to these new and complex innovation needs in practice. The methodology involves: 1 – a literature review bringing together key research and theory on airport innovation management, open innovation and innovation ecosystems in order to evaluate airport practices through an innovation lens; 2 – an international benchmarking of leading airports and their innovation practices, including such examples as Aéroports de Paris, Schipol in Amsterdam, Changi in Singapore, and others; and 3 – semi-structured interviews with airport managers on key aspects of organizational practice, facilitated through a close partnership with the Airport Council International (ACI), a major stakeholder in this research project. Preliminary results find that the most successful airports are those that have shifted to a multi-stakeholder, platform ecosystem model of innovation. The recent entrance of new actors in airports (Google, Amazon, Accor, Vinci, Airbnb and others) have forced the opening of organizational boundaries to share and exchange knowledge with a broader set of ecosystem players. This has also led to new forms of governance and intermediation by airport actors to connect complex, highly distributed knowledge, along with new kinds of inter-organizational collaboration, co-creation and collective ideation processes. Leading airports in the case study have demonstrated a unique capacity to force traditionally siloed activities to “think together”, “explore together” and “act together”, to share data, contribute expertise and pioneer new governance approaches and collaborative practices. In so doing, they have successfully integrated these many disruptive change pathways and forced their implementation and coordination towards innovative mobility outcomes, with positive societal, environmental and economic impacts. This research has implications for: 1 - innovation theory, 2 - urban and transport policy, and 3 - organizational practice - within the mobility industry and across the economy.

Keywords: airport management, ecosystem, innovation, mobility, platform, transport hubs

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Authors: Vangelis Papadimitropoulos

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The paper is part of the research project “Techno-Social Innovation in the Collaborative Economy'', funded by the Hellenic Foundation of Research and Innovation for the years 2022-2024. The research project examines the normative and empirical conditions of grassroots technologically driven innovation, potentially enabling the transition towards a commons-oriented post-capitalist economy. The project carries out a conceptually led and empirically grounded multi-case study of the digital commons, open-source technologies, platform cooperatives, open cooperatives and Distributed Autonomous Organizations (DAOs) on the Blockchain. The methodological scope of research is interdisciplinary inasmuch as it comprises political theory, economics, sustainability science and computer science, among others. The research draws specifically on Michel Bauwens and Vasilis Kostakis' model of open cooperativism between the commons, ethical market entities and a partner state. Bauwens and Kostakis advocate for a commons-based counter-hegemonic post-capitalist transition beyond and against neoliberalism. The research further employs Laclau and Mouffe's discourse theory of hegemony to introduce a post-hegemonic conceptualization of the model of open cooperativism. Thus, the paper aims to outline the theoretical contribution of the research project to contemporary political theory debates on post-capitalism and the collaborative economy.

Keywords: open cooperativism, techno-social innovation, post-hegemony, post-capitalism

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Authors: Dhruv Sharma, Lynne Blair, Stephen Clune

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Later life loneliness is a social issue that is increasing alongside an upward global population trend. As a society, one way that we have responded to this social challenge is through developing non-pharmacological interventions such as befriending services, activity clubs, meet-ups, etc. Through a systematic literature review, this paper suggests that currently there is an underrepresentation of radical innovation, and underutilization of digital technologies in developing loneliness interventions for older adults. This paper examines intervention studies that were published in English language, within peer reviewed journals between January 2005 and December 2014 across 4 electronic databases. In addition to academic databases, interventions found in grey literature in the form of websites, blogs, and Twitter were also included in the overall review. This approach yielded 129 interventions that were included in the study. A systematic approach allowed the minimization of any bias dictating the selection of interventions to study. A coding strategy based on a pattern analysis approach was devised to be able to compare and contrast the loneliness interventions. Firstly, interventions were categorized on the basis of their objective to identify whether they were preventative, supportive, or remedial in nature. Secondly, depending on their scope, they were categorized as one-to-one, community-based, or group based. It was also ascertained whether interventions represented an improvement, an incremental innovation, a major advance or a radical departure, in comparison to the most basic form of a loneliness intervention. Finally, interventions were also assessed on the basis of the extent to which they utilized digital technologies. Individual visualizations representing the four levels of coding were created for each intervention, followed by an aggregated visual to facilitate analysis. To keep the inquiry within scope and to present a coherent view of the findings, the analysis was primarily concerned the level of innovation, and the use of digital technologies. This analysis highlights a weak but positive correlation between the level of innovation and the use of digital technologies in designing and deploying loneliness interventions, and also emphasizes how certain existing interventions could be tweaked to enable their migration from representing incremental innovation to radical innovation for example. This analysis also points out the value of including grey literature, especially from Twitter, in systematic literature reviews to get a contemporary view of latest work in the area under investigation.

Keywords: ageing, loneliness, innovation, digital

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Authors: Qiuxiao Chen, Yan Hou, Ning Wu

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As there are deficiencies of the classic Douglas-Peucker Algorithm (DPA), such as high risks of deleting key nodes by mistake, high complexity, time consumption and relatively slow execution speed, a new Deletion-Cost Based Compression Algorithm (DCA) for linear vector data was proposed. For each curve — the basic element of linear vector data, all the deletion costs of its middle nodes were calculated, and the minimum deletion cost was compared with the pre-defined threshold. If the former was greater than or equal to the latter, all remaining nodes were reserved and the curve’s compression process was finished. Otherwise, the node with the minimal deletion cost was deleted, its two neighbors' deletion costs were updated, and the same loop on the compressed curve was repeated till the termination. By several comparative experiments using different types of linear vector data, the comparison between DPA and DCA was performed from the aspects of compression quality and computing efficiency. Experiment results showed that DCA outperformed DPA in compression accuracy and execution efficiency as well.

Keywords: Douglas-Peucker algorithm, linear vector data, compression, deletion cost

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Authors: Timothy Kayode Samson, Adedoyin Isola Lawal

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The past five years have shown a sharp increase in public interest in the crypto market, with its market capitalization growing from $100 billion in June 2017 to $2158.42 billion on April 5, 2022. Despite the outrageous nature of the volatility of cryptocurrencies, the use of skewed error innovation distributions in modelling the volatility behaviour of these digital currencies has not been given much research attention. Hence, this study models the volatility of 5 largest cryptocurrencies by market capitalization (Bitcoin, Ethereum, Tether, Binance coin, and USD Coin) using four variants of GARCH models (GJR-GARCH, sGARCH, EGARCH, and APARCH) estimated using three skewed error innovation distributions (skewed normal, skewed student- t and skewed generalized error innovation distributions). Daily closing prices of these currencies were obtained from Yahoo Finance website. Finding reveals that the Binance coin reported higher mean returns compared to other digital currencies, while the skewness indicates that the Binance coin, Tether, and USD coin increased more than they decreased in values within the period of study. For both Bitcoin and Ethereum, negative skewness was obtained, meaning that within the period of study, the returns of these currencies decreased more than they increased in value. Returns from these cryptocurrencies were found to be stationary but not normality distributed with evidence of the ARCH effect. The skewness parameters in all best forecasting models were all significant (p<.05), justifying of use of skewed error innovation distributions with a fatter tail than normal, Student-t, and generalized error innovation distributions. For Binance coin, EGARCH-sstd outperformed other volatility models, while for Bitcoin, Ethereum, Tether, and USD coin, the best forecasting models were EGARCH-sstd, APARCH-sstd, EGARCH-sged, and GJR-GARCH-sstd, respectively. This suggests the superiority of skewed Student t- distribution and skewed generalized error distribution over the skewed normal distribution.

Keywords: skewed generalized error distribution, skewed normal distribution, skewed student t- distribution, APARCH, EGARCH, sGARCH, GJR-GARCH

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Authors: Yu-Yao Wang, Xiao-Meng Hu, Joanne Yeung, Xiao-Yan Li

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The high private cost and unquantified external cost limit the development of reclaimed water. In this study, an integrated framework comprising life cycle assessment (LCA), quantitative microbial risk assessment (QMRA), and life cycle costing (LCC) was developed to evaluate both costs of reclaimed water supply in water systems of various scales. LCA assesses the environmental impacts, and QMRA estimates the associated pathogenic impacts. These impacts are monetized as external costs and analyzed with the private cost by LCC to count the total life cycle cost. The framework evaluated the Hong Kong urban water system in the baseline scenario (BS) and five wastewater reuse scenarios (RS). They are RSI: substituting freshwater for toilet flushing only, RSII: substituting both freshwater and seawater for toilet flushing, RSIII: using reclaimed water for all non-potable uses, RSIV: using reclaimed water for all non-potable uses and indirect potable uses, and RSV: non-potable use and indirect potable use by conveying 100% reclaimed water to recharge the reservoirs. The results show that substituting freshwater and seawater for toilet flushing has the least total life cycle cost, exhibiting that it is the most cost-effective option for Hong Kong. Meanwhile, the evaluation results show that the external cost of each scenario is comparable to the corresponding private cost, indicating the importance of the inclusion of comprehensive external cost evaluation in private cost assessment of water systems with reclaimed water supply.

Keywords: life cycle assessment, life cycle costing, quantitative microbial risk assessment, water reclamation, reclaimed water, alternative water resources

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Authors: Mario Spremic

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Despite the financial crisis and ongoing need for cost cutting, companies all around the world heavily invest in information systems (IS) and underlying information technology (IT). Information systems (IS) play very important role in modern business organizations supporting its organizational efficiency or, under certain circumstances, fostering business model innovation and change. IS can influence organization competitiveness in two ways: supporting operational efficiency (IS as a main infrastructure for the current business), or differentiating business through business model innovation and business process change. In either way, IS becomes very important to the business and needs to be aligned with strategic objectives in order to justify massive investments. A number of studies showed that investments in IS and underlying IT resulted in added business value if they are truly connected with strategic business objectives. In that sense proliferation of governance of enterprise IT helps companies manage, or rather, governs IS as a primary business function with executive management involved in making a decision about IS and IT. The quality of IT governance is rising with the large number of decisions about IS made by executive management, not IT departments. The more executive management is engaged in making a decision about IS and IT, the IT governance is of better quality. In this paper, the practice of governing the enterprise IT will be investigated on a sample of the largest 100 Croatian companies. Research questions posed here will reveal if there are some formal IT governance mechanisms, are there any differences in perceived role of IS and IT between CIOs (Chief Information Officers) and CEOs (Chief Executive Officers) of the sampled companies and what are the mechanisms to govern massive investment in enterprise IT.

Keywords: IT governance, governance of enterprise IT, information system auditing, operational efficiency

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Authors: Felix Brito

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With the growth of online learning, several higher education institutions have attempted to incorporate technology in their curriculum. Successful technology implementation projects really on technology infrastructure and on the acceptance of education professionals towards innovation. This research study is aimed at illustrating the relevance of the human component in technology implementation projects in higher education by describing the Learning Management System implementation project executed by instructional designers working for a higher education institution in the southeast region of the United States. An analysis of the Transformative Leadership Theory, the Technology Acceptance Model, and the Diffusion of Innovation Process provide the support for a solid understanding of this issue and address recommendations for future technology implementation projects in higher education institutions.

Keywords: diffusion of innovation process, instructional design, leadership, learning management systems, online learning, technology acceptance model, transformative leadership theory

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Authors: Lo Kar Yin, Law Ka Mei

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Architectural, engineering, construction and operations (AECO) industry practitioners have been well adapting to the dynamic construction market from the fundamental training of its discipline. As further triggered by the pandemic since 2019, great steps are taken in virtual environment and the best collaboration is strived with project teams without boundaries. With adoption of Building Information Modeling-based approach and qualitative analysis, this paper is to review quantity take-off and cost estimation process through modeling techniques in liaison with suppliers, fabricators, subcontractors, contractors, designers, consultants and services providers in the construction industry value chain for automatic project cost budgeting, project cost control and cost evaluation on design options of in-situ reinforced-concrete construction and Modular Integrated Construction (MiC) at design stage, variation of works and cash flow/spending analysis at construction stage as far as practicable, with a view to sharing the findings for enhancing mutual trust and co-operation among AECO industry practitioners. It is to foster development through a common prototype of design and build project delivery method in NEC Engineering and Construction Contract (ECC) Options A and C.

Keywords: building information modeling, cost estimation, quantity take-off, modeling techniques

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Authors: Juan Luis Leal, Rafael Maestre, Ovidio López

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As innovation progresses, more possibilities are made available to increase the efficiency and reach of solutions for Smart Cities, most of which require the data provided by the Internet of Things (IoT) devices and may even have higher power requirements such as motors or actuators. A reliable power supply with the lowest maintenance is a requirement for the success of these solutions in the long term. Energy harvesting, mainly solar, becomes the solution of choice in most cases, but only if there is enough power to be harvested, which may depend on the device location (e.g., outdoors vs. indoor). This is the case of Smart Waste Containers with compaction systems, which have moderately high-power requirements, and may be installed in places with little sunlight for solar generation. It should be noted that waste is unloaded from the containers with cranes, so sudden and irregular movements may happen, making wired power unviable. In these cases, a wireless power supply may be a great alternative. This paper proposes a cost-effective two coil resonant wireless power transfer (WPT) system and describes its implementation, which has been carried out within an R&D project and validated in real settings with smart containers. Experimental results prove that the developed system achieves wireless power transmission up to 35W in the range of 5 cm to 1 m with a peak efficiency of 78%. The circuit is operated at relatively low resonant frequencies, which combined with enough wire-to-wire separation between the coil windings, reduce the losses caused by the proximity effect and, therefore, allow the use of common stranded wire instead of Litz wire, this without reducing the efficiency significantly. All these design considerations led to a final system that achieves a high efficiency for the desired charging range, simplifying the energy supply for Smart Containers as well as other devices that may benefit from a cost-effective wireless charging system.

Keywords: electromagnetic coupling, resonant wireless charging, smart recycling containers, wireless power transfer

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Authors: Wildan Maulana, Machfudz Sa'idi

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Yogyakarta is a city with the most students in Indonesia, more than 250 thousand students living in Yogyakarta and more than 140 universities in Yogyakarta. Therefore, Yogyakarta is a very strategic place for the culinary business. Food is a basic requirement of all living things, and the tasty food and cheap is the target of almost all students. The objective of this paper is to give an idea and the innovation of culinary business in Yogyakarta who apply the concept sociopreneur and technology as a tool to facilitate the course of this business. KedaiKampus is a startup that brings the food business operators such as food stalls, restaurants or angkringan (a traditional restaurant of Indonesia) and people who want to find the food with the best price and the best taste. The uniqueness of this business is offered weekly and monthly food packages for students in particular or for everyone who needs and will be delivered to their homes each every hour meal. KedaiKampus is also a marketspace for industrial and culinary houses, using technology based mobile application and website will allow the food industry to connect them with customers, but it also allows them to know the customer's desire for food trending in the market. The application to be developed is designed for ease of access to customers in finding their favorite foods and convenience for the culinary home to create amazing culinary innovation.

Keywords: marketplace, sociopreneur, culinary, meal

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Authors: S. Aditya, K. T. Nideesh, N. Guruprasad

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Being a subclass of linear programing problem, the Transportation Problem is a classic Operations Research problem where the objective is to determine the schedule for transporting goods from source to destination in a way that minimizes the shipping cost while satisfying supply and demand constraints. In this paper, we are representing the transportation problem for various warehouses along with various dealers situated in Bangalore city to reduce the transportation cost incurred by them as of now. The problem is solved by obtaining the Initial Basic feasible Solution through various methods and further proceeding to obtain optimal cost.

Keywords: NW method, optimum utilization, transportation problem, Vogel’s approximation method

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Authors: Lizbeth Puerta, Enselmina Marín

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The purpose of this research is to present a survey to be applied to professors of public universities, to identify the factors that benefit or hinder the university-industry relation. Hence, this research studies some elements that integrate the variables: Knowledge management, technology management, and technology transfer; to define the existence of a relation between these variables and the industry necessities of innovation. This study is exploratory, descriptive and non-experimental. The research question is: What is the impact of the knowledge management, the technology management, and the technology transfer, made by administrative support areas of the public universities, in the industries innovation? Thus, literature review was made to identify some elements that should be considered to design a survey that allows to obtain valid information to the study variables. After this, the survey was developed, and the Content Validity Analysis was made through the Lawshe Model. The analysis indicated that the Content Validity Index (CVI) was 0.80. Hence, it was determined that this survey presents acceptable psychometric properties to be used as an evaluation tool.

Keywords: innovation, knowledge management, technology management, technology transfer

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Authors: Shubham Damke, Md Imtiaz, Sanchita Dei

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To stimulate the well and to enhance the production from the shaly formations, fracturing is essential. Presently the chiefly employed technology is Hydraulic Fracturing. However Hydraulic Fracturing accompanies itself with problems like disposing large volumes of fracturing wastewater, removal of water from the pores, formation damage due to injection of large amount of chemicals into underground formations and many more. Therefore embarking on the path of innovation new techniques have been developed which uses different gases such as Nitrogen, Carbon dioxide, Frac Oil, LPG, etc. are used as a base fluid for fracturing formation. However LPG proves to be the most favorable of them which eliminates the use of water and chemicals. When using it as a fracturing fluid, within the surface equipment, it is stored, gelled, and proppant blended at a constant pressure. It is then pressurized with high pressure pumps to the required surface injection pressure With lowering the total cost and increasing the productivity, LPG is also very noteworthy for fracturing shale, where if the hydraulic fracturing is done the water ‘swells’ the formation and creates surface tension, both of which inhibit the flow of oil and gas. Also fracturing with LPG increases the effective fracture length and since propane, butane and pentane is used which are already present in the natural gas therefore there is no problem of back flow because these gases get mixed with the natural gas. LPG Fracturing technology can be a promising substitute of the Hydraulic Fracturing, which could substantially reduce the capital cost of fracturing shale and will also restrict the problems with the disposal of water and on the same hand increasing the fracture length and the productivity from the shale.

Keywords: Fracking, Shale, Surface Tension, Viscosity

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Authors: Zurina Mahadi, Hukil Sino

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United Nations resolved 2030 Sustainable Development Goals (SDGs) in 2015 to complete what Millennium Development Goals did not achieve. Accommodating 17 goals and 169 targets, Sustainable Development Goals are designated to be achieved over the next 15 years. A survey was conducted in July 2019 among the undergraduate students of a public university in Selangor, Malaysia, to learn their selection over Sustainable Development Goals, which they think is the most critical in the Malaysian scenario. This study adopted a qualitative approach, and data is gathered from a single instruction questionnaire administered to a purposive sample of participants. 13 goals were selected by the participants which are Goal 1, 2, 3, 4, 5, 6, 8, 10, 11, 12, 13, 16 and 17 while none has selected Goal 7, 9, 14 and 15 which are ‘Affordable and Clean Energy’; ‘Industry, Innovation and Infrastructure’; ‘Life Below Water’ and ‘Life On Land’ respectively. The selected goals are then ranked according to the number of participants who chose that particular goal. Goal 8 is found to be at the highest position of the ranking while Goal 5, 6, 10, and 13 accommodating the lowest position. Goal 8, which is ‘Decent Work and Economic Growth’ is chosen by 13 participants as the most critical goal in Malaysia while Goal 5,6 10, and 13, which are ‘Gender Equality’; ‘Clean Water and Sanitation’; ‘Reduced Inequalities’ and ‘Climate Action’ respectively, are chosen by only one participant each. Issues highlighted by the participants are themed into 10 themes, which are job availability, cost of living, well-being, corruption, education, environment, gender, development planning, consumption, and partnership. The theme of the cost of living has the highest number of issues, followed by the theme of job availability and the environment. The theme of gender has the least number of issues, followed by the theme of corruption and development planning. In principle, these findings, therefore, conclude that from a public university students’ point of view, the most critical sustainable development goal is decent work and economic growth while the most concerning issue is the cost of living. The implications of these findings are students’ knowledge towards the current issues of development, and their views of future sustainable development are considerably high. This study, therefore, suggests their views be inculcated into local, sustainable development frameworks to increase the inclusiveness of the young generation as they are the future SDGs stakeholders.

Keywords: cost of living, inclusiveness, job availability, sustainable development goals

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Authors: Rohit Kapoor

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In this paper, an attempt is made to formulate 3-echelon repairable parts inventory system under (S-1, S) policy. This analytical model is the extension of an exact formulation of two - echelon repairable parts inventory system, already reported in the established literature. In the present paper, we try to formulate the total cost expression consisting of two components, viz., system investment cost and expected backorder cost.

Keywords: (S-1, S) inventory policy, multi-echelon inventory system, repairable parts

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Authors: Yasaman Ashrafi, Stephen Kajewski, Annastiina Silvennoinen, Madhav Nepal

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Mega projects either in construction, urban development or energy sectors are one of the key drivers that build the foundation of wealth and modern civilizations in regions and nations. Such projects require economic justification and substantial capital investment, often derived from individual and corporate investors as well as governments. Cost overruns and time delays in these mega projects demands a new approach to more accurately predict project costs and establish realistic financial plans. The significance of this paper is that the cost efficiency of megaprojects will improve and decrease cost overruns. This research will assist Project Managers (PMs) to make timely and appropriate decisions about both cost and outcomes of ongoing projects. This research, therefore, examines the oil and gas industry where most mega projects apply the classic methods of Cost Performance Index (CPI) and Schedule Performance Index (SPI) and rely on project data to forecast cost and time. Because these projects are always overrun in cost and time even at the early phase of the project, the probabilistic methods of Monte Carlo Simulation (MCS) and Bayesian Adaptive Forecasting method were used to predict project cost at completion of projects. The current theoretical and mathematical models which forecast the total expected cost and project completion date, during the execution phase of an ongoing project will be evaluated. Earned Value Management (EVM) method is unable to predict cost at completion of a project accurately due to the lack of enough detailed project information especially in the early phase of the project. During the project execution phase, the Bayesian adaptive forecasting method incorporates predictions into the actual performance data from earned value management and revises pre-project cost estimates, making full use of the available information. The outcome of this research is to improve the accuracy of both cost prediction and final duration. This research will provide a warning method to identify when current project performance deviates from planned performance and crates an unacceptable gap between preliminary planning and actual performance. This warning method will support project managers to take corrective actions on time.

Keywords: cost forecasting, earned value management, project control, project management, risk analysis, simulation

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Authors: Richard Mababu Mukiur

Abstract:

Leadership is an important drive that plays a key role in the success and development of organizations, particularly in the current context of digital transformation, highly competitivity and globalization. Leaders are persons that hold a dominant and privileged position within an organization, field, or sector of activities and are able to manage, motivate and exercise a high degree of influence over other in order to achieve the institutional goals. They achieve commitment and engagement of others to embrace change, and to make good decisions. Leadership studies in higher education institutions have examined how effective leaders hold their organizations, and also to find approaches which fit best in the organizations context for its better management, transformation and improvement. Moreover, recent studies have highlighted the impact of leadership styles on organizational performance and innovation capacities, since some styles give better results than others. Effective leadership is part of learning process that take place through day-to-day tasks, responsibilities, and experiences that influence the organizational performance, innovation and engagement of employees. The adoption of appropriate leadership styles can improve organization results and encourage learning process, team skills and performance, and employees' motivation and engagement. In the case of case of Information Technology sector, leadership styles are particularly crucial since this sector is leading relevant changes and transformations in the knowledge society. In this context, the main objective of this study is to analyze managers leadership styles with their relation to organizational performance and innovation that may be mediated by learning organization process and demographic variables. Therefore, it was hypothesized that the transformational and transactional leadership will be the main style adopted in Information Technology sector and will influence organizational performance and innovation capacity. A sample of 540 participants from Information technology sector has been determined in order to achieve the objective of this study. The Multifactor Leadership Questionnaire was administered as the principal instrument, Scale of innovation and Learning Organization Questionnaire. Correlations and multiple regression analysis have been used as the main techniques of data analysis. The findings indicate that leadership styles have a relevant impact on organizational performance and innovation capacity. The transformational and transactional leadership are predominant styles in Information technology sector. The effective leadership style tend to be characterized by the capacity of generating and sharing knowledge that improve organization performance and innovation capacity. Managers are adopting and adapting their leadership styles that respond to the new organizational, social and cultural challenges and realities of contemporary society. Managers who encourage innovation, foster learning process, share experience are useful to the organization since they contribute to its development and transformation. Learning process capacity and demographic variables (age, gender, and job tenure) mediate the relationship between leadership styles, innovation capacity and organizational performance. The transformational and transactional leadership tend to enhance the organizational performance due to their significant impact on team-building, employees' engagement and satisfaction. Some practical implications and future lines of research have been proposed.

Keywords: leadership styles, tranformational leadership, organisational performance, organisational innovation

Procedia PDF Downloads 193

Authors: Farid Fahami

Abstract:

This article explores the transformative role of technology in the finance, banking, and insurance sectors. It examines key technological trends such as AI, blockchain, data analytics, and digital platforms and their impact on operations, customer experiences, and business models. The article highlights the benefits of technology adoption, including improved efficiency, cost reduction, enhanced customer experiences, and expanded financial inclusion. It also addresses challenges like cybersecurity, data privacy, and the need for upskilling. Real-world case studies demonstrate successful technology integration, and recommendations for stakeholders emphasize embracing innovation and collaboration. The article concludes by emphasizing the importance of technology in shaping the future of these sectors.

Keywords: banking, finance, insurance, technology

Procedia PDF Downloads 50

Authors: Tzu-Ching Weng, Hsin-Yi Chi

Abstract:

This study examines the effect of family succession on the cost of bank loans and non-price contractual terms. We use a unique dataset from China and find that lending banks are likely to charge high-interest rates and offer tight contractual terms, such as loan maturity and collateral requirement, for family succession firms. These findings indicate that information and default risks may arise after subsequent family successions. We also find that family succession firms can reduce the cost of bank loans by hiring top-tier auditors to enhance financial reporting credibility. This finding suggests that professional and high-quality auditors can provide extremely valuable services to family succession firms.

Keywords: family succession, cost of bank loans, loan contract terms, top-tier auditor

Procedia PDF Downloads 64

Authors: Sabita Mahapatra

Abstract:

‘Going green’ has been an emerging issue worldwide driving companies to continuously enhance their green capabilities and implement innovative green practices to protect the environment and improve business performance. Green has become a contemporary business environmental issue. The resource advantage theory is adopted in the present study to observe the impact of marketing orientation and green innovation practices on environmental and firm’s performance. The small and medium firms compared to large firms have different approach towards market orientation as a strategic tool. The present study proposes a conceptual framework regarding the impact of market orientation on environmental and firm’s performance through green innovation practices in the context of small and medium scale industries (SMEs). The propositions developed in the present paper would provide scope for future research study to validate the conceptual framework in the emerging economy like India.

Keywords: market orientation, green innovation practices, environment performance, corporate performance, emerging market

Procedia PDF Downloads 294

Authors: Pirom Thangchitpianpol, Suttipong Jumroonrut

Abstract:

This research investigates the distribution of food demand for animal food and the optimum amount of that food production at minimum cost. The data consist of customer purchase orders for the food of laying hens, price of food for laying hens, cost per unit for the food inventory, cost related to food of laying hens in which the food is out of stock, such as fine, overtime, urgent purchase for material. They were collected from January, 1990 to December, 2013 from a factory in Nakhonratchasima province. The collected data are analyzed in order to explore the distribution of the monthly food demand for the laying hens and to see the rate of inventory per unit. The results are used in a stochastic linear programming model for aggregate planning in which the optimum production or minimum cost could be obtained. Programming algorithms in MATLAB and tools in Linprog software are used to get the solution. The distribution of the food demand for laying hens and the random numbers are used in the model. The study shows that the distribution of monthly food demand for laying has a normal distribution, the monthly average amount (unit: 30 kg) of production from January to December. The minimum total cost average for 12 months is Baht 62,329,181.77. Therefore, the production planning can reduce the cost by 14.64% from real cost.

Keywords: animal food, stochastic linear programming, aggregate planning, production planning, demand uncertainty

Procedia PDF Downloads 356