Search results for: maketing agrifood firms

Authors: Zainab Atia, Hongwei He, Panagiotis Sarantopoulos

Abstract:

Over the past few years, firms have witnessed a massive increase in sophisticated algorithmic deployment, which has become quite pervasive in today’s modern society. With the wide availability of data for retailers, the ability to track consumers using algorithmic pricing has become an integral option in online platforms. As more companies are transforming their businesses and relying more on massive technological advancement, pricing algorithmic systems have brought attention and given rise to its wide adoption, with many accompanying benefits and challenges to be found within its usage. With the overall aim of increasing profits by organizations, algorithmic pricing is becoming a sound option by enabling suppliers to cut costs, allowing better services, improving efficiency and product availability, and enhancing overall consumer experiences. The adoption of algorithms in retail has been pioneered and widely used in literature across varied fields, including marketing, computer science, engineering, economics, and public policy. However, what is more, alarming today is the comprehensive understanding and focus of this technology and its associated ethical influence on consumers’ perceptions and behaviours. Indeed, due to algorithmic ethical concerns, consumers are found to be reluctant in some instances to share their personal data with retailers, which reduces their retention and leads to negative consumer outcomes in some instances. This, in its turn, raises the question of whether firms can still manifest the acceptance of such technologies by consumers while minimizing the ethical transgressions accompanied by their deployment. As recent modest research within the area of marketing and consumer behavior, the current research advances the literature on algorithmic pricing, pricing ethics, consumers’ perceptions, and price fairness literature. With its empirical focus, this paper aims to contribute to the literature by applying the distinction of the two common types of algorithmic pricing, dynamic and personalized, while measuring their relative effect on consumers’ behavioural outcomes. From a managerial perspective, this research offers significant implications that pertain to providing a better human-machine interactive environment (whether online or offline) to improve both businesses’ overall performance and consumers’ wellbeing. Therefore, by allowing more transparent pricing systems, businesses can harness their generated ethical strategies, which fosters consumers’ loyalty and extend their post-purchase behaviour. Thus, by defining the correct balance of pricing and right measures, whether using dynamic or personalized (or both), managers can hence approach consumers more ethically while taking their expectations and responses at a critical stance.

Keywords: algorithmic pricing, dynamic pricing, personalized pricing, price ethicality

Procedia PDF Downloads 67

Authors: Subhadeep Mandal, Sujoy Bhattacharya, Pabitra Mitra, Diya Guha Roy, Seema Bhattacharya

Abstract:

E-commerce firms allow customers to evaluate and review the things they buy as a positive or bad experience. The e-commerce transaction processes are made up of a variety of diverse organizations and activities that operate independently but are connected together to complete the transaction (from placing an order to the goods reaching the client). After a negative shopping experience, clients frequently disregard the critical assessment of these businesses and submit their feedback on an all-over basis, which benefits certain enterprises but is tedious for others. In this article, we solely dealt with negative reviews and attempted to distinguish between negative reviews where the e-commerce firm is explicitly blamed by customers for a bad purchasing experience and other negative reviews.

Keywords: e-commerce, online shopping, customer reviews, customer behaviour, text analytics, n-grams classification

Procedia PDF Downloads 237

Authors: Balarabe Z. Ahmad, Anne-Lorène Vernay

Abstract:

The emergence of electricity in Nigeria was dated back to 1896. The power plants have the potential to generate 12,522 MW of electric power. Whereas current dispatch is about 4,000 MW, access to electrification is about 60%, with consumption at 0.14 MWh/capita. The government embarked on energy reforms to mitigate energy poverty. The reform targeted the provision of electricity access to 75% of the population by 2020 and 90% by 2030. Growth of total electricity demand by a factor of 5 by 2035 had been projected. This means that Nigeria will require almost 530 TWh of electricity which can be delivered through generators with a capacity of 65 GW. Analogously, the geographical location of Nigeria has placed it in an advantageous position as the source of solar energy; the availability of a high sunshine belt is obvious in the country. The implication is that the far North, where energy poverty is high, equally has about twice the solar radiation as against southern Nigeria. Hence, the chance of generating solar electricity is 66% possible at 11850 x 103 GWh per year, which is one hundred times the current electricity consumption rate in the country. Harvesting these huge potentials may be a mirage if the entrepreneurs in the solar panel business are left with the conventional business models that are not uncertainty resilient. Currently, business entities in RE in Nigeria are uncertain of; accessing the national grid, purchasing potentials of cooperating organizations, currency fluctuation and interest rate increases. Uncertainties such as the security of projects and government policy are issues entrepreneurs must navigate to remain sustainable in the solar panel industry in Nigeria. The aim of this paper is to identify how entrepreneurial firms consider uncertainties in developing workable business models for commercializing solar energy projects in Nigeria. In an attempt to develop a novel business model, the paper investigated how entrepreneurial firms assess and navigate uncertainties. The roles of key stakeholders in helping entrepreneurs to manage uncertainties in the Nigeria RE sector were probed in the ongoing study. The study explored empirical uncertainties that are peculiar to RE entrepreneurs in Nigeria. A mixed-mode of research was embraced using qualitative data from face-to-face interviews conducted on the Solar Energy Entrepreneurs and the experts drawn from key stakeholders. Content analysis of the interview was done using Atlas. It is a nine qualitative tool. The result suggested that all stakeholders are required to synergize in developing an uncertainty resilient business model. It was opined that the RE entrepreneurs need modifications in the business recommendations encapsulated in the energy policy in Nigeria to strengthen their capability in delivering solar energy solutions to the yawning Nigerians.

Keywords: uncertainties, entrepreneurial, business model, solar-panel

Procedia PDF Downloads 126

Authors: Mehdi Dasineh, Yadollah Tariverdi, Marzieh H. Takhti

Abstract:

This paper investigated the relationship between top management turnover with risk volatility, sale volatility and fluctuations in the company's cash depending on the unqualified audit report in Tehran Stock Exchange (TSE). In this study, we examined 104 firms over the period 2009-2014 which were selected from (TSE). There was 624 observed year-company data in this research. Hypotheses of this research have been evaluated by using regression tests for example F-statistical and Durbin-Watson. Based on our sample we found significant relationship between top management replacement and risk volatility, sale Volatility and cash volatility with tendency unqualified audit opinion.

Keywords: top management replacement, risk volatility, sale volatility, cash volatility, unqualified audit opinion

Procedia PDF Downloads 262

Authors: Khalid Hassan Abdesamed, Kalsom Abd Wahab

Abstract:

Economic development and growth are significantly linked to the consistent and sustainable sector of small and medium enterprises (SMEs). Banks are the frontrunners in financing and advising SMEs. The main objective of the study is to assess the tendency of SMEs to use the Islamic bank. Model was developed using quantitative method with a hypothetical-deductive testing approach. Model (N = 364) used primary data on the tendency of SMEs to use Islamic banks gathered from questionnaire. It is found by Mann-Whitney test that the tendency to use Islamic bank varies between those firms which consider formal financing with the ones relying on informal financing with the latter tends more to use Islamic bank. This study can serve academic researchers, policy makers, and developing countries as a model of SMEs’ desirability to Islamic banking.

Keywords: formal financing, informal financing, Islamic bank, SMEs

Procedia PDF Downloads 334

Authors: Krisada Sungkhamanee

Abstract:

The objectives of this research are to search the management pattern of one district lodging entrepreneurs by sufficient economy ways, to know the constrains that affects this sector and design fit arrangement shape to sustain their business with Samut Songkram style. What will happen if they do not use this approach? Will they have a monetary crisis? The data and information are collected by informal discussions with 8 managers and 400 questionnaires. A mixed methods of both qualitative research and quantitative research are used and Bent Flyvbjerg’s phronesis is utilized for this analysis. Our paper will prove that sufficient economy can help small business firms to solve their problems. We think that the results of our research will be a financial pattern to solve many problems of the entrepreneurs and this way will can be a super model for other provinces of Thailand.

Keywords: Samut Songkram, service sector, sufficient economy, management pattern

Procedia PDF Downloads 346

Authors: Min-Ming Wen

Abstract:

Applying the U.S. lodging and tourism industry as a research sample, we examine the relation between the corporate governance structure and managerial risk-taking behavior. In light of the global financial crisis, the importance of effective governance structures is essential in protecting claimholder interests. We propose a governance structure consisting of shareholder governance measured by anti-takeover provisions to examine whether the governance structure has a significant impact on managerial risk-taking behaviors in terms of the investment policy. We will use capital expenditure and R&D investment to measure managerial risk-taking and the firm’s investment policy. In addition, we will examine whether the effects of governance on investment policy differ significantly between speculative and investment-grade firms.

Keywords: corporate governance, risk-taking, firm value, lodging industry

Procedia PDF Downloads 594

Authors: Krisada Sungkhamanee

Abstract:

The objectives of this research are to know the management form of Samut Songkram lodging entrepreneurs with sufficient economy framework, to know the threat that affect this business and drawing the fit model for this province in order to sustain their business with Samut Songkram style. What will happen if they do not use this philosophy? Will they have a cash short fall? The data and information are collected by informal discussion with 8 managers and 400 questionnaires. We will use a mix of methods both qualitative research and quantitative research for our study. Bent Flyvbjerg’s phronesis is utilized for this analysis. Our research will prove that sufficient economy can help small and medium business firms solve their problems. We think that the results of our research will be a financial model to solve many problems of the entrepreneurs and this way will use to practice in other areas of our country.

Keywords: Samut Songkram, hospitality business, sufficient economy philosophy, style

Procedia PDF Downloads 281

Authors: Ufuk Cebeci, Onur Doğan

Abstract:

New product becomes critical in competitive environment shortening a product's lifecycle due to the rapidly changing technology and increasing consumer requirements. Quality Function Deployment is one of the first steps of NPD process. The study presents an intelligent QFD application in metal plating industry. For application, an intelligent decision support system was developed. By intelligent system, house of quality was drawn and some calculations were shown. According to the results, some recommendations are given to end user. One of the purposes of this system is to give some advices to firms which do not know technical details of QFD and guide them about first steps of the new product development process.

Keywords: intelligent decision support systems, metal plating, quality function deployment, QFD software, new product development

Procedia PDF Downloads 374

Authors: Lena Murawski

Abstract:

Currently, researchers and experts from the business world recognize entrepreneurial behaviors as a decisive factor for economic success, allowing firms to adapt to changing internal and external needs. The purpose of this study is to explore how gamification can enhance entrepreneurial behaviors, reporting on a gamification project in a new venture operating in the IT sector in Germany. This article is based on data gathered from observations of pre‐ and post‐implementation in the case company. Results have indicated that the use of gamification encourages entrepreneurial behaviors, especially relating to seeking ways on how to integrate new employees, improve teamwork and communication, and to adapt existing processes to increase productivity. The interdisciplinary dialogue furthers our understanding of factors that foster entrepreneurial behaviors. The matter is of practical relevance, guiding practitioners on how to exploit the potentials of gamification to exhibit an entrepreneurial orientation in organizations.

Keywords: case study, entrepreneurial behaviors, gamification, new venture

Procedia PDF Downloads 138

Authors: Ranjith Ihalanayake, Lalith Seelanatha, John Breen

Abstract:

In this study, we explored the current working capital management practices as applied in small businesses in Victoria, filling an existing theoretical and empirical gap in literature in general and in Australia in particular. Amidst the current global competitive and dynamic environment, the short term insolvency of small businesses is very critical for the long run survival. A firm’s short-term insolvency is dependent on the availability of sufficient working capital for feeding day to day operational activities. Therefore, given the reliance for short-term funding by small businesses, it has been recognized that the efficient management of working capital is crucial in respect of the prosperity and survival of such firms. Against this background, this research was an attempt to understand the current working capital management strategies and practices used by the small scale businesses. To this end, we conducted an internet survey among 220 small businesses operating in Victoria, Australia. The survey results suggest that the majority of respondents are owner-manager (73%) and male (68%). Respondents participated in this survey mostly have a degree (46%). About a half of respondents are more than 50 years old. Most of respondents (64%) have business management experience more than ten years. Similarly, majority of them (63%) had experience in the area of their current business. Types of business of the respondents are: Private limited company (41%), sole proprietorship (37%), and partnership (15%). In addition, majority of the firms are service companies (63%), followed by retailed companies (25%), and manufacturing (17%). Size of companies of this survey varies, 32% of them have annual sales $100,000 or under, while 22% of them have revenue more than $1,000,000 every year. In regards to the total assets, majority of respondents (43%) have total assets $100,000 or less while 20% of respondents have total assets more than $1,000,000. In regards to WCMPs, results indicate that almost 70% of respondents mentioned that they are responsible for managing their business working capital. The survey shows that majority of respondents (65.5%) use their business experience to identify the level of investment in working capital, compared to 22% of respondents who seek advice from professionals. The other 10% of respondents, however, follow industry practice to identify the level of working capital. The survey also shows that more than a half of respondents maintain good liquidity financial position for their business by having accounts payable less than accounts receivable. This study finds that majority of small business companies in western area of Victoria have a WCM policy but only about 8 % of them have a formal policy. Majority of the businesses (52.7%) have an informal policy while 39.5% have no policy. Of those who have a policy, 44% described their working capital management policies as a compromise policy while 35% described their policy as a conservative policy. Only 6% of respondents apply aggressive policy. Overall the results indicate that the small businesses pay less attention into the management of working capital of their business despite its significance in the successful operation of the business. This approach may be adopted during favourable economic times. However, during relatively turbulent economic conditions, such an approach could lead to greater financial difficulties i.e. short-term financial insolvency.

Keywords: small business, working capital management, Australia, sufficient, financial insolvency

Procedia PDF Downloads 336

Authors: Monia Hassan Abdulrahman

Abstract:

Resource-based view is built on many theories in addition to diverse perspectives, we extend this view placing emphasis on human resources addressing the tools required to sustain competitive advantage. Highlighting on several theories and judgments, assumptions were established to clearly reach if resource possession alone suffices for the sustainability of competitive advantage, or necessary accommodation are required for better performance. New practices were indicated in terms of resources used in firms, these practices were implemented on the human resources in particular, and results were developed in compliance to the mentioned assumptions. Such results drew attention to the significance of practices that provide enhancement of human resources that have a core responsibility of maintaining resource-based view for an organization to lead the way to gaining competitive advantage.

Keywords: competitive advantage, resource based value, human resources, strategic management

Procedia PDF Downloads 373

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

Abstract:

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

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

Procedia PDF Downloads 128

Authors: Amira Khelil, Habib Affes

Abstract:

The XXIst century is characterized by promoting teamwork as one of the main drivers of firms` performance. Collective competence is becoming crucial in developing and maintaining a firm’s competitive advantage, as well as its contributions to organizational innovation. In other words, the improvement of collective competence for a firm is no longer a choice, but rather an obligation. Learning capabilities of a firm in the context of knowledge management are assumed to be the main drivers of collective competence. Although there are some efforts to consider these concepts together; they are mostly discussed separately in the management theory. Thus, this paper aims to offer a holistic approach for development collective competence on the basis of Knowledge Management and Organizational Learning Capabilities. A theoretical model that defines a relationship between knowledge management, organizational learning and collective competence is presented at the end of this paper.

Keywords: collective competence, exploitation learning, exploration learning, knowledge management, organizational learning capabilities

Procedia PDF Downloads 480

Authors: Sumati Manchanda

Abstract:

Cloud computing is one of the most recent developing engineering and is consistently utilized as a part of different IT firms so as to make benefits like expense sparing or financial minimization, it must be eco cordial also. In this manner, Green Cloud Computing is the need of the today's current situation. It is an innovation that is rising as data correspondence engineering. This paper surveys the unequivocal endeavors made by different specialists to make Cloud Computing more vitality preserving, to break down its vitality utilization focused around sorts of administrations gave furthermore to diminish the carbon foot shaped impression rate by colossal methodologies furthermore edify virtualization idea alongside different diverse methodologies which utilize virtual machines scheduling and migration. The summary of the proposed work by various authors that we have reviewed is also presented in the paper.

Keywords: cloud computing, green cloud computing, scheduling, migration, virtualization, energy efficiency

Procedia PDF Downloads 371

Authors: Khlif Hamadi

Abstract:

Customer Relationship Management has become the main interest of researchers and practitioners especially in the domains of Management and Information Systems (IS). This paper is an overview of success factors that could facilitate successful adoption of CRM. There are 2 factors: the organizational climate and the capacity for innovation. The survey was developed with 200 CRM users. Empirical research is in the positivist paradigm based on the hypothetico-deductive method. Indeed, the approach adopted is the quantitative approach based on a questionnaire complied by Tunisian companies operating in different sectors of activity. For the data analyses, the structural equations method was used to conduct our exploratory and confirmatory analysis. The results revealed that the creative organizational climate and high innovation capacity positively influence the success of CRM practice.

Keywords: CRM practices, innovation capacity, organizational climate, the structural equation

Procedia PDF Downloads 101

Authors: Wisu Suntoyo, Dedy Sushandoyo

Abstract:

Innovation and digital transformation are essential for firms’ competitiveness in the digital age. The competition in Indonesia’s banking industry provides an intriguing case study for understanding how digital transformation can generate innovation in established companies. The empirical evidence of this study is mainly based on interviews and annual reports examining four established banks in their various states of digital transformation. The findings of this study reveal that banks’ digital transformations that lead to innovations differ in terms of the activities undertaken and the outcomes achieved depending on the state of advancement in which they are. Digital transformation is a complex and challenging process, and this study finds that with this strategy, established banks have shown capable of generating innovation. Banks can choose types of transformation activities that generate radical, architectural, modular, or even incremental innovations.

Keywords: digital transformation, innovations, banking industry, established banks

Procedia PDF Downloads 70

Authors: Prateek Bhattacharya

Abstract:

The definition of 'control' in India is a rapidly evolving concept, owing to varying rights attached to varying securities. Shares with differential voting rights (DVRs) provide the holder with differential rights as to voting, as compared to ordinary equity shareholders of the company. Such DVRs can amount to both superior voting rights and inferior voting rights, where DVRs with superior voting rights amount to providing the holder with golden shares in the company. While DVRs are not a novel concept in India having been recognized since 2000, they were placed on a back burner by the Securities and Exchange Board of India (SEBI) in 2010 after issuance of DVRs with superior voting rights was restricted. In June 2019, the SEBI rekindled the ebbing fire of DVRs, keeping mind the fast-paced nature of the global economy, the government's faith that India’s ‘new age technology companies’ (i.e., Start-Ups) will lead the charge in achieving its goal of India becoming a $5 trillion dollar economy by 2024, and recognizing that the promoters of such Start-Ups seek to raise capital without losing control over their companies. DVRs with superior voting rights guarantee promoters with up to 74% shareholding in Start-Ups for a period of 5 years, meaning that the holder of such DVRs can exercise sole control and material influence over the company for that period. This manner of control has the potential of causing both pro-competitive and anti-competitive effects in the markets where these companies operate. On the one hand, DVRs will allow Start-Up promoters/founders to retain control of their companies and protect its business interests from foreign elements such as private/public investors – in a scenario where such investors have multiple investments in firms engaged in associated lines of business (whether on a horizontal or vertical level) and would seek to influence these firms to enter into potential anti-competitive arrangements with one another, DVRs will enable the promoters to thwart such scenarios. On the other hand, promoters/founders who themselves have multiple investments in Start-Ups, which are in associated lines of business run the risk of influencing these associated Start-Ups to engage in potentially anti-competitive arrangements in the name of profit maximisation. This paper shall be divided into three parts: Part I shall deal with the concept of ‘control’, as deliberated upon and decided by the SEBI and the Competition Commission of India (CCI) under both company/securities law and competition law; Part II shall review this definition of ‘control’ through the lens of DVRs, and Part III shall discuss the aforementioned potential pro-competitive and anti-competitive effects caused by the DVRs by examining the current Indian Start-Up scenario. The paper shall conclude by providing suggestions for the CCI to incorporate a clearer and more progressive concept of ‘control’.

Keywords: competition law, competitive effects, control, differential voting rights, DVRs, investor shareholding, merger control, start-ups

Procedia PDF Downloads 101

Authors: Anchal Gupta

Abstract:

Amid the escalating digitalization and deployment of cross-border technological solutions, a significant portion of the industry and regulatory bodies have begun to pose queries concerning the formulation, computation, and contemplation of concentration risk. In the financial sector, well-established parameters exist for gauging the concentration of a portfolio and similar elements. However, a unified framework appears to be absent, which could guide industry and regulators pertaining to non-financial concentration risk. This paper introduces a framework, constructed on the foundation of multiple regulations where regulators are advocating for licensed corporations to evaluate their concentration risk. The lacuna lies in the fact that, while regulators delineate what constitutes concentration risk, unlike other domains, no guidelines are provided that could assist firms. This frequently results in ambiguity and individual corporate interpretation, which, from a risk management standpoint, is less than ideal.

Keywords: concentration risk, non-financial risk, government regulation, financial regulation, non-market risk, MAS, DORA, EDSP, SFC

Procedia PDF Downloads 14

Authors: Yohannes Haile, Dipo Onipede, Jr., Omar Ashour

Abstract:

The main thrust of our research is to determine Industry 4.0 readiness of small and mid-size manufacturing companies in our region and assist them to implement Cyber Physical Production System (CPPS) capabilities. Adopting CPPS capabilities will help organizations realize improved quality, order delivery, throughput, new value creation, and reduced idle time of machines and work centers of their manufacturing operations. The key metrics for the assessment include the level of intelligence, internal and external connections, responsiveness to internal and external environmental changes, capabilities for customization of products with reference to cost, level of additive manufacturing, automation, and robotics integration, and capabilities to manufacture hybrid products in the near term, where near term is defined as 0 to 18 months. In our initial evaluation of several manufacturing firms which are profitable and successful in what they do, we found low level of Physical-Digital-Physical (PDP) loop in their manufacturing operations, whereas 100% of the firms included in this research have specialized manufacturing core competencies that have differentiated them from their competitors. The level of automation and robotics integration is low to medium range, where low is defined as less than 30%, and medium is defined as 30 to 70% of manufacturing operation to include automation and robotics. However, there is a significant drive to include these capabilities at the present time. As it pertains to intelligence and connection of manufacturing systems, it is observed to be low with significant variance in tying manufacturing operations management to Enterprise Resource Planning (ERP). Furthermore, it is observed that the integration of additive manufacturing in general, 3D printing, in particular, to be low, but with significant upside of integrating it in their manufacturing operations in the near future. To hasten the readiness of the local and regional manufacturing companies to Industry 4.0 and transitions towards CPPS capabilities, our working group (ADMAR Working Group) in partnership with our university have been engaged with the local and regional manufacturing companies. The goal is to increase awareness, share know-how and capabilities, initiate joint projects, and investigate the possibility of establishing the Center for Cyber Physical Production Systems Innovation (C2P2SI). The center is intended to support the local and regional university-industry research of implementing intelligent factories, enhance new value creation through disruptive innovations, the development of hybrid and data enhanced products, and the creation of digital manufacturing enterprises. All these efforts will enhance local and regional economic development and educate students that have well developed knowledge and applications of cyber physical manufacturing systems and Industry 4.0.

Keywords: automation, cyber-physical production system, digital manufacturing enterprises, disruptive innovation, new value creation, physical-digital-physical loop

Procedia PDF Downloads 116

Authors: Umang Varshney, Amit Karamchandani, Rohit Kapoor

Abstract:

Practitioners and researchers have realized that Blockchain is not limited to currency. Blockchain as a distributed ledger can ensure a transparent and traceable supply chain. Due to Blockchain-enabled IoTs, a firm’s information management system can now take inputs from other supply chain partners in real-time. This study aims to provide empirical evidence of dimensions responsible for blockchain implemented firm’s growth and highlight how sector (manufacturing or service), state's regulatory environment, and choice of blockchain network affect the blockchain's usefulness. This post-adoption study seeks to validate the findings of pre-adoption studies done on the blockchain. Data will be collected through a survey of managers working in blockchain implemented firms and analyzed through PLS-SEM.

Keywords: blockchain, information management system, PLS-SEM, firm's growth

Procedia PDF Downloads 98

Authors: Ijaz Ul Haq, Fiorenzo Franceschini

Abstract:

The distributed manufacturing methodology brings a new concept of decentralized manufacturing operations close to the proximity of end users. A preliminary scale, to measure distributed capacity and evaluate positioning of firms, is developed in this research. In the first part of the paper, a literature review has been performed which highlights the explorative nature of the studies conducted to present definitions and classifications due to novelty of this topic. From literature, five dimensions of distributed manufacturing development stages have been identified: localization, manufacturing technologies, customization and personalization, digitalization and democratization of design. Based on these determinants a conceptual scale is proposed to measure the status of distributed manufacturing of a generic firm. A multiple case study is then conducted in two steps to test the conceptual scale and to identify the corresponding level of distributed potential in each case study firm.

Keywords: distributed manufacturing, distributed capacity, localized production, ordinal scale

Procedia PDF Downloads 144

Authors: Hande Begum Bumin Doyduk, Elif Okan Yolbulan

Abstract:

Innovation is very important for success and competitiveness of countries, as well as business sectors and individuals' firms. In order to have successful and sustainable innovations, the other side of the game, consumers, should be aware of the innovations and appreciate them. In this study, the consumer innovativeness is focused and the relationship between motivated consumer innovativeness and consumer shopping styles is analyzed. Motivated consumer innovativeness scale by (Vandecasteele & Geuens, 2010) and consumer shopping styles scale by (Sproles & Kendall, 1986) is used. Data is analyzed by SPSS 20 program through realibility, factor, and correlation analysis. According to the findings of the study, there are strong positive relationships between hedonic innovativeness and recreational shopping style; social innovativeness and brand consciousness; cognitive innovativeness and price consciousness and functional innovativeness and perfectionistic high-quality conscious shopping styles.

Keywords: consumer innovativeness, consumer decision making, shopping styles, innovativeness

Procedia PDF Downloads 404

Authors: Éva Pintér, Péter Bagó, Nikolett Deutsch, Miklós Hetényi

Abstract:

The process of digital transformation has a profound influence on all sectors of the worldwide economy and the business environment. The influence of blockchain technology can be observed in the digital economy and e-government, rendering it an essential element of a nation's growth strategy. The banking industry is experiencing significant expansion and development of financial technology firms. Utilizing developing technologies such as artificial intelligence (AI), machine learning (ML), and big data (BD), these entrants are offering more streamlined financial solutions, promptly addressing client demands, and presenting a challenge to incumbent institutions. The advantages of digital transformation are evident in the corporate realm, and firms that resist its adoption put their survival at risk. The advent of digital technologies has revolutionized the business environment, streamlining processes and creating opportunities for enhanced communication and collaboration. Thanks to the aid of digital technologies, businesses can now swiftly and effortlessly retrieve vast quantities of information, all the while accelerating the process of creating new and improved products and services. Big data analytics is generally recognized as a transformative force in business, considered the fourth paradigm of science, and seen as the next frontier for innovation, competition, and productivity. Big data, an emerging technology that is shaping the future of the banking sector, offers numerous advantages to banks. It enables them to effectively track consumer behavior and make informed decisions, thereby enhancing their operational efficiency. Banks may embrace big data technologies to promptly and efficiently identify fraud, as well as gain insights into client preferences, which can then be leveraged to create better-tailored products and services. Moreover, the utilization of big data technology empowers banks to develop more intelligent and streamlined models for accurately recognizing and focusing on the suitable clientele with pertinent offers. There is a scarcity of research on big data analytics in the banking industry, with the majority of existing studies only examining the advantages and prospects associated with big data. Although big data technologies are crucial, there is a dearth of empirical evidence about the role of big data analytics (BDA) capabilities in bank performance. This research addresses a gap in the existing literature by introducing a model that combines the resource-based view (RBV), the technical organization environment framework (TOE), and dynamic capability theory (DC). This study investigates the influence of Big Data Analytics (BDA) utilization on the performance of market and risk management. This is supported by a comparative examination of Hungarian mobile banking services.

Keywords: big data, digital transformation, dynamic capabilities, mobile banking

Procedia PDF Downloads 30

Authors: Ikechukwu Ndu

Abstract:

This study examines the econometric modeling of the relation between discretionary accrual earnings management, International Financial Reporting Standards (IFRS), and certain corporate governance factors with regard to listed Nigerian non-financial firms. Although discretionary accrual earnings management is a well-known and global problem that has an adverse impact on users of the financial statements, its relationship with IFRS and corporate governance is neither adequately researched nor properly systematically investigated in Nigeria. The dearth of research in the relation between discretionary accrual earnings management, IFRS and corporate governance in Nigeria has made it difficult for academics, practitioners, government setting bodies, regulators and international bodies to achieve a clearer understanding of how discretionary accrual earnings management relates to IFRS and certain corporate governance characteristics. This is the first study to the author’s best knowledge to date that makes interesting research contributions that significantly add to the literature of discretionary accrual earnings management and its relation with corporate governance and IFRS pertaining to the Nigerian context. A comprehensive review is undertaken of the literature of discretionary total accrual earnings management, IFRS, and certain corporate governance characteristics as well as the data, models, methodologies, and different estimators used in the study. Secondary financial statement, IFRS, and corporate governance data are sourced from Bloomberg database and published financial statements of Nigerian non-financial firms for the period 2004 to 2016. The methodology uses both the total and working capital accrual basis. This study has a number of interesting preliminary findings. First, there is a negative relationship between the level of discretionary accrual earnings management and the adoption of IFRS. However, this relationship does not appear to be statistically significant. Second, there is a significant negative relationship between the size of the board of directors and discretionary accrual earnings management. Third, CEO Separation of roles does not constrain earnings management, indicating the need to preserve relationships, personal connections, and maintain bonded friendships between the CEO, Chairman, and executive directors. Fourth, there is a significant negative relationship between discretionary accrual earnings management and the use of a Big Four firm as an auditor. Fifth, including shareholders in the audit committee, leads to a reduction in discretionary accrual earnings management. Sixth, the debt and return on assets (ROA) variables are significant and positively related to discretionary accrual earnings management. Finally, the company size variable indicated by the log of assets is surprisingly not found to be statistically significant and indicates that all Nigerian companies irrespective of size engage in discretionary accrual management. In conclusion, this study provides key insights that enable a better understanding of the relationship between discretionary accrual earnings management, IFRS, and corporate governance in the Nigerian context. It is expected that the results of this study will be of interest to academics, practitioners, regulators, governments, international bodies and other parties involved in policy setting and economic development in areas of financial reporting, securities regulation, accounting harmonization, and corporate governance.

Keywords: discretionary accrual earnings management, earnings manipulation, IFRS, corporate governance

Procedia PDF Downloads 114

Authors: Irem Ela Yildizeli

Abstract:

Advertising today has become an indispensable phenomenon both for businesses and consumers. Due to the conditions of rapid changes in the market and growth of competitiveness, the success of many of firms that produce similar merchandise depends largely on how professionally and effective they use marketing communication elements which also must have some sense of shared values between the message provider and the receiver within cultural and global trend. This paper demonstrates how consumer behaviour and communication through cultural values evaluate advertising styles. Using samples of award-winning ads from both author's and other professional's creative works, the study reveals a significant correlation between the cultural elements and advertisement reception for language and cultural norms respectively. The findings of this study draw attention to the change of communication in the beginning of the 21st century which has shaped a new style of Participatory and Experience Design in advertising.

Keywords: advertising, advertising style, culture, experience design, participatory design

Procedia PDF Downloads 139

Authors: Muhammad Akhtaruzzaman

Abstract:

The impact of corporate environmental social and governance (ESG) on financial performance is often difficult to quantify despite the ESG related theories predict that ESG performance improves financial performance of a company. This research examines the link between corporate ESG performance and the financial performance of the NZX (New Zealand Stock Exchange) listed companies. For this purpose, this research utilizes mixed methods approaches to examine and understand this link. While quantitative results found no robust evidence of such a link, however, the qualitative analysis of content data suggests a strong cooccurrence exists between ESG performance and financial performance. The findings of this research have important implications for policymakers to support higher ESG-performing companies and for management practitioners to develop ESG-related strategies.

Keywords: ESG, financial performance, New Zealand firms, thematic analysis, mixed methods

Procedia PDF Downloads 36

Authors: Martin Bugeja, Helen Spiropolos

Abstract:

Using a sample of U.S. firms during the period 1993-2015, this study examines whether mergers and acquisitions (M&A) impact the compensation of the Chief Financial Officer (CFO) in the bidding and integration phases of M&As. The study finds that after controlling for CEO power, CFOs’ total compensation is higher during M&A years and is driven by higher equity incentives. These results are robust to controlling for self-selection. Furthermore, CFOs receive a greater bonus during the year of acquisition and the year prior. The study also investigates if CFO compensation during M&A years is driven by M&A characteristics and finds that deal size and diversification are positively related to total compensation while completion time is negatively related. The results are robust to a number of sensitivity tests and additional analyses.

Keywords: chief financial officer, compensation, mergers, acquisitions

Procedia PDF Downloads 42

Authors: Yunice Karina Tumewang

Abstract:

As we have seen, the number of Muslim and their awareness toward financial products and services that conform to Islamic principles are growing rapidly today. Thus, it makes the market environment potentially beneficial for Shari-compliant funds with the expanding prospective client base. However, over the last decade, only small portion of this huge potential market has been covered by the established Islamic asset management firms. This study aims to examine the factors of this untapped market particularly in the demand side. This study will use the qualitative method with primary data through a questionnaire distributed to 500 samples of Muslim population. It will shed light on Muslim attitudes and expectations toward Sharia-compliant retirement planning and pensions. It will also help to raise the awareness of market players to see Islamic pension fund as a promising industry in the foreseeable future.

Keywords: Islamic marketing, Islamic finance, Islamic asset management, Islamic pension fund

Procedia PDF Downloads 319

Authors: Kisanga Arsene

Abstract:

The abundant literature on corporate governance identifies four main objectives: the configuration of power within firms, control, conflict prevention and the equitable distribution of value created. The persistent dysfunctions in companies in developing countries in general and in African countries, in particular, show that these objectives are generally not achieved, which supports the idea of analyzing corporate governance practices in Africa. Indeed, the objective of this paper is to review the literature on corporate governance in Africa, to outline the specific practices and challenges of corporate governance in Africa and to identify reliable indicators and variables to capture corporate governance in Africa. In light of the existing literature, we argue that corporate governance in Africa can only be studied in the light of African realities and by taking into account the institutional environment. These studies show the existence of a divide between governance practices and the legislative and regulatory texts in force in the African context.

Keywords: institutional environment, transparency, accountability, Africa

Procedia PDF Downloads 139