Search results for: stock market prediction

Authors: Lorena Coelho, David Ramada, Catarina Nobre, Joaquim Gaião, Juliana Duarte

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The development of processes that allows the valorization of waste and by-products generated by industries is crucial to promote symbiotic relationships between different sectors and is mandatory to “close the loop” in the circular economy paradigm. In recent years, by-products and waste from agro-food and forestry sector have attracted attention due to their potential application and technical characteristics. The extraction of bio-based active compounds to be reused is in line with the circular bioeconomy concept trends, combining the use of renewable resources with the process’s circularity, aiming the waste reduction and encouraging reuse and recycling. Among different types of bio-based materials, which are being explored and can be extracted, proteins fractions are becoming an attractive new raw material. Within this context, BioTrace4Leather project, a collaboration between two Technological Centres – CeNTI and CTIC, and a company of Tanning and Finishing of Leather – Curtumes Aveneda, aims to develop innovative and biologically sustainable solutions for leather industry and accomplish the market circularity trends. Specifically, it aims to the valorisation of waste and by-products from the tannery industry through proteins extraction and the development of an innovative and biologically sustainable materials. The achieved results show that keratin, gelatine, and collagen fractions can be successfully extracted from hair and leather bovine waste. These products could be reintegrated into the industrial manufacturing process to attain innovative and functional textile and leather substrates. ACKNOWLEDGEMENT This work has been developed under BioTrace4Leather scope, a project co-funded by Operational Program for Competitiveness and Internationalization (COMPETE) of PORTUGAL2020, through the European Regional Development Fund (ERDF), under grant agreement Nº POCI-01-0247-FEDER-039867.

Keywords: leather by-products, circular economy, sustainability, protein fractions

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Authors: Kristel Faye Tandog

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The State Owned Enterprise (SOE) or also called Public Enterprise (PE) has been playing a vital role in a country’s social and economic development. Following this idea, this study focused on the Factor Structures of Financial Performance of the Local Economic Enterprises (LEEs) namely: Food Court, Market, Slaughterhouse, and Terminal in Matalam, Cotabato. It aimed to determine the profile of the LEEs in terms of organizational structure, manner of creation, years in operation, source of initial operating requirements, annual operating budget, geographical location, and size or description of the facility. This study also included the different financial ratios of LEE that covered a five year period from Calendar Year 2009 to 2013. Primary data using survey questionnaire was administered to 468 respondents and secondary data were sourced out from the government archives and financial documents of the said LGU. There were 12 dominant factors identified namely: “management”, “enforcement of laws”, “strategic location”, “existence of non-formal competitors”, “proper maintenance”, “pricing”, “customer service”, “collection process”, “rentals and services”, “efficient use of resources”, “staffing”, and “timeliness and accuracy”. On the other hand, the financial performance of the LEE of Matalam, Cotabato using financial ratios needs reformatting. This denotes that refinement as to the following ratios: Cash Flow Indicator, Activity, Profitability and Growth is necessary. The cash flow indicator ratio showed difficulty in covering its debts in successive years. Likewise, the activity ratios showed that the LEE had not been effective in putting its investment at work. Moreover, profitability ratios revealed that it had operated in minimum capacity and had incurred net losses and thus, it had a weak profit performance. Furthermore, growth ratios showed that LEE had a declining growth trend particularly in net income.

Keywords: factor structures, financial performance, financial ratios, state owned enterprises

Procedia PDF Downloads 255

Authors: Muhammad Abu-Khaizaran, Ahmad Faza’, Tariq Othman, Yahia Yousef

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This paper presents a study to provide sufficient and reliable information about constructing a Photovoltaic energy profile of the Birzeit University campus (BZU) based on the weather forecast. The developed Photovoltaic energy profile helps to predict the energy yield of the Photovoltaic systems based on the weather forecast and hence helps planning energy production and consumption. Two models will be developed in this paper; a Clear Sky Irradiance model and a Cloud-Cover Radiation model to predict the irradiance for a clear sky day and a cloudy day, respectively. The adopted procedure for developing such models takes into consideration two levels of abstraction. First, irradiance and weather data were acquired by a sensory (measurement) system installed on the rooftop of the Information Technology College building at Birzeit University campus. Second, power readings of a fully operational 51kW commercial Photovoltaic system installed in the University at the rooftop of the adjacent College of Pharmacy-Nursing and Health Professions building are used to validate the output of a simulation model and to help refine its structure. Based on a comparison between a mathematical model, which calculates Clear Sky Irradiance for the University location and two sets of accumulated measured data, it is found that the simulation system offers an accurate resemblance to the installed PV power station on clear sky days. However, these comparisons show a divergence between the expected energy yield and actual energy yield in extreme weather conditions, including clouding and soiling effects. Therefore, a more accurate prediction model for irradiance that takes into consideration weather factors, such as relative humidity and cloudiness, which affect irradiance, was developed; Cloud-Cover Radiation Model (CRM). The equivalent mathematical formulas implement corrections to provide more accurate inputs to the simulation system. The results of the CRM show a very good match with the actual measured irradiance during a cloudy day. The developed Photovoltaic profile helps in predicting the output energy yield of the Photovoltaic system installed at the University campus based on the predicted weather conditions. The simulation and practical results for both models are in a very good match.

Keywords: clear-sky irradiance model, cloud-cover radiation model, photovoltaic, weather forecast

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Authors: Chi S. Lee

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Marvel superhero movies have obtained its unprecedented popularity around the globe. It is a dominant narrative in current scholarship on superhero studies that the political trauma of America, such as attack of September 11, and the masculinity represented in superhero genre are symbolically connected in a way of remasculinization, a standardized plot that before becoming a superhero, a man has to overcome its trauma in his life. Through this standardized plot, American audience finds their pleasure in the spectatorship of equating this plot of remasculinization with the situation of America, rewriting their traumatic memory and resolving around the economic, social, political, and psychological instability of precarity in their own context. Shifting the context to Hong Kong, where Marvel superhero movies have been reaching its dominant status in the local film market, this analysis finds its limitation in explaining the connection between text and context. This article aims to retain this connection through investigation of the Hong Kong audience’s spectatorship. It is argued that the masculinity represented in Marvel superhero movies no longer fits into the stereotypical image of superhero, but presents itself in crisis. This crisis is resolved by the technological excess of the superpower, namely, technological remasculinization. The technological remasculinization offers a sense of futurity through which it is felt that this remasculinization can be achieved in the foreseeable future instead of remaining imaginary and fictional. In this way, the political crisis of Hong Kong is gendered as masculinity in crisis which is worth being remasculinized in the future. This gendering process is a historical product as the symbolic equation between politics and masculinity has for long been encoded in the colonial history of Hong Kong. In short, Marvel superhero’s masculinity offers a sense of masculine hope for the Hong Kong audiences to overcome the political crisis they confront in reality through a postponed identification with the superhero’s masculinity. After the discussion of the Hong Kong audience’s spectatorship on Marvel superhero movies with the insights casted by spectatorship theory, above idea is generated.

Keywords: political crisis in Hong Kong, Marvel superhero movies, spectatorship, technological remasculinization

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Authors: Sali Chinsathit, Haruthai Kaenla

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Organic agriculture has become a major policy theme for agricultural development in Thailand since October 2005. Organic farming is enlisted as an important national agenda, to promote safe food and national export, and many government authorities have initiated projects and activities centered on organic farming promotion. Currently, Thailand has the market share of about 32 million US$ a year by exporting organic products of rice, vegetables, tea, fruits and a few medicinal herbs. There is high potential in organic crop production as there is the tropical environment promoting crop growth and leader farmer in organic farming. However, organic sector is relatively small (0.2%) comparing with conventional agricultural area, since there are many factors affecting farmers’ adoption and success in organic farming. The objective of this project was to get the organic production technology for at least 3 organic crops. The treatment and method were complied with Thai Organic Standard, and were mainly concerned on increase plant biodiversity and soil improvement by using organic fertilizer and bio-extract from fish, egg, plant and fruits. The bio-logical control, plant-extracts, and cultural practices were used to control insect pests and diseases of 3 crops including mangosteen (Garcinia mangostana L.), longkong (Aglaia dookoo Griff.) and banana (Musa (AA group)). The experiments were carried out at research centers of Department of Agriculture and farmers’ farms in Rayong and Chanthaburi provinces from 2009 to 2013. We found that both locations, plant biodiversity by intercropping mangosteen or longkong with banana and soil improvement with composts and bio-extract from fish could increased yield and farmers’ income by 6,835 US$/ha/year. Farmers got knowledge from these technologies to produce organic crops. The organic products were sold both in domestic and international countries. The organic production technologies were also environmental friendly and could be used as an alternative way for farmers in Thailand.

Keywords: banana, longkong, mangosteen, organic farming

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Authors: Ivan Gunass Govender, Andrea Giampiccoli

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A developmental state should use community engagement to facilitate socio-economic development for disadvantaged groups and individual members of society through empowerment, social justice, sustainability, and self-reliance. In this regard, community-based tourism (CBT) as a growing market should be an indigenous effort aided by external facilitation. Since this form of tourism presents its own preconditions, characteristics, and challenges, it could be guided by higher education institutions engagement. In particular, the facilitation should not only serve to assist the community members to reach their own goals; but rather also focus on learning through knowledge creation and sharing with the engagement of higher education institutions. While the increased relevance of CBT has produced various CBT manuals (or handbooks/guidelines) documents aimed to ‘teach’ and assist various entities in CBT development, this research aims to analyse the current monitoring & evaluation (M&E) manuals and thereafter, propose an M&E model for CBT. It is important to mention that all too often effective monitoring is seldom carried out thus risking the long-term sustainability and improvement of the CBT ventures. Therefore, the proposed model will also consider some inputs external to the tourism field, but in relation to local economic development (LED) matters from the previously proposed development monitoring and evaluation system framework. M&E should be seen as fundamental components of any CBT initiative, and the whole CBT intervention should be evaluated. In this context, M&E in CBT should go beyond strict ‘numerical’ economic matters and should be understood in a holistic development. In addition, M&E in CBT should not consider issues in various ‘compartments’ such as tourists, tourism attractions, CBT owners/participants, and stakeholder engagement but as interdependent components of a macro-ecosystem. Finally, the external facilitation process should be structured in a way to promote community self-reliance in both the intervention and the M&E process. The research will attempt to propose an M&E model for CBT so as to enhance the CBT possibilities of long-term growth and success through effective collaborations with key stakeholders.

Keywords: community-based tourism, community-engagement, monitoring and evaluation, stakeholders

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Authors: Khue Do Phan

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Nike has been confronted by the press with their harsh working conditions, underpayment and highly-labor intensive requirement to their manufacturing workers and hiring of underage workers in Vietnam, Nike's largest production center. To analyze this topic critically through an international relations perspective, theory of dependency will be used to criticize the notion of exploitation of resources from developed countries towards developing countries. Theory of economic liberalism will be used to support the notion private property, the free market and generally capitalism as beneficial to both developing and developed countries. Workers are mentally, physically and sexually abused in the factories. In addition to this, their working conditions consist of improper training, lack of safety equipment, exposure of chemicals (glues and pants), their average wage is below the minimum wage in their country; the workers have to work around 60 hours or more a week. Even Nike says that the conditions are regulated often to make sure the workers get a voice to have their work rights and safe working environment. The monitors come to analyze the factories but in the end talk to the employers, whom are the direct abusers to the employees. Health benefits are rarely granted to the employees; they are forced to pay their bills first then the company will reimburse them later. They would also get in trouble for using the bathroom, taking a lunch break or sick days off because this would mean it would decrease their hours of work, leading to an even lower wage and a really angry employer. Of course with the press criticizing Nike’s lack of respect for human rights and working rights, Nike has been working on policy making and implementation to deal with the abuses. Due to its large chains and a great number of outsourcing host countries, the changes that Nike wish or attempt to make have not be in effect as quickly nor spreading to all countries it holds accountable for in its outsourcing factories.

Keywords: dependency theory, economic liberalism, human rights, outsource

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Authors: Shasline Gedeon, Tiffany W. Ardley, Ying Wang, Nathan J. Gesmundo, Katarina A. Sarris, Ana L. Aguirre

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Drug discovery and delivery involve drug targeting, an approach that helps find a drug against a chosen target through high throughput screening and other methods by way of identifying the physical properties of the potential lead compound. Physical properties of potential drug candidates have been an imperative focus since the unveiling of Lipinski's Rule of 5 for oral drugs. Throughout a compound's journey from discovery, clinical phase trials, then becoming a classified drug on the market, the desirable properties are optimized while minimizing/eliminating toxicity and undesirable properties. In the pharmaceutical industry, the ability to generate molecules in parallel with maximum efficiency is a substantial factor achieved through sp²-sp² carbon coupling reactions, e.g., Suzuki Coupling reactions. These reaction types allow for the increase of aromatic fragments onto a compound. More recent literature has found benefits to decreasing aromaticity, calling for more sp³-sp² carbon coupling reactions instead. The objective of this project is to provide a comparison between various sp³-sp² carbon coupling methods and reaction conditions, collecting data on production of the desired product. There were four different coupling methods being tested amongst three cores and 4-5 installation groups per method; each method ran under three distinct reaction conditions. The tested methods include the Photoredox Decarboxylative Coupling, the Photoredox Potassium Alkyl Trifluoroborate (BF3K) Coupling, the Photoredox Cross-Electrophile (PCE) Coupling, and the Weix Cross-Electrophile (WCE) Coupling. The results concluded that the Decarboxylative method was very difficult in yielding product despite the several literature conditions chosen. The BF3K and PCE methods produced competitive results. Amongst the two Cross-Electrophile coupling methods, the Photoredox method surpassed the Weix method on numerous accounts. The results will be used to build future libraries.

Keywords: drug discovery, high throughput chemistry, photoredox chemistry, sp³-sp² carbon coupling methods

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Authors: Gautier Viaud, Paul-Henry Cournède

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Plant growth models have been used extensively for the prediction of the phenotypic performance of plants. However, they remain most often calibrated for a given genotype and therefore do not take into account genotype by environment interactions. One way of achieving such an objective is to consider Bayesian hierarchical models. Three levels can be identified in such models: The first level describes how a given growth model describes the phenotype of the plant as a function of individual parameters, the second level describes how these individual parameters are distributed within a plant population, the third level corresponds to the attribution of priors on population parameters. Thanks to the Bayesian framework, choosing appropriate priors for the population parameters permits to derive analytical expressions for the full conditional distributions of these population parameters. As plant growth models are of a nonlinear nature, individual parameters cannot be sampled explicitly, and a Metropolis step must be performed. This allows for the use of a hybrid Gibbs--Metropolis sampler. A generic approach was devised for the implementation of both general state space models and estimation algorithms within a programming platform. It was designed using the Julia language, which combines an elegant syntax, metaprogramming capabilities and exhibits high efficiency. Results were obtained for Arabidopsis thaliana on both simulated and real data. An organ-scale Greenlab model for the latter is thus presented, where the surface areas of each individual leaf can be simulated. It is assumed that the error made on the measurement of leaf areas is proportional to the leaf area itself; multiplicative normal noises for the observations are therefore used. Real data were obtained via image analysis of zenithal images of Arabidopsis thaliana over a period of 21 days using a two-step segmentation and tracking algorithm which notably takes advantage of the Arabidopsis thaliana phyllotaxy. Since the model formulation is rather flexible, there is no need that the data for a single individual be available at all times, nor that the times at which data is available be the same for all the different individuals. This allows to discard data from image analysis when it is not considered reliable enough, thereby providing low-biased data in large quantity for leaf areas. The proposed model precisely reproduces the dynamics of Arabidopsis thaliana’s growth while accounting for the variability between genotypes. In addition to the estimation of the population parameters, the level of variability is an interesting indicator of the genotypic stability of model parameters. A promising perspective is to test whether some of the latter should be considered as fixed effects.

Keywords: bayesian, genotypic differentiation, hierarchical models, plant growth models

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Authors: Tosin Deborah Akanbi, Adeyemi Oluwaseun Adepoju, Hameed Olusegun Adebambo, Akinloye Fatai Lawal

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Building information modelling (BIM) is a process that starts with the development of a sequential 3D design and encourages data administration, organization, and visualization throughout the life span of a facility (drawings, construction, and supervision). The implementation of building information modelling has been slow in recent years, and this is due to some prominent barriers that hinder its adoption. In this regard, the study aims to examine the significant barriers that influence the adoption of building information modelling in the Lagos state construction industry. Data were gathered through a questionnaire survey with 332 construction professionals in the study area. Three online structured interviews were conducted to support and validate the findings of the quantitative analysis. The results revealed that interest (lack of awareness and understanding of BIM, absence of in-house BIM competent professionals, and unavailability of BIM competent professionals in the labour market), legal (lack of policies and regulations on copyright ownership and lack of enforcement from government agencies and industry leaderships) and professional (people’s inability or refusal to learn new technologies and processes, waste in time and human resource and lack of clarity of professional roles in BIM) barriers are the major barriers influencing the adoption of BIM. The results also revealed that six final themes were generated, namely: finance barriers, industry barriers, interest barriers, leadership barriers, legal barriers, and professional barriers. Thus, there is a need for policymakers to design and implement policies (regulatory, economic, and information) to promote financial schemes to support construction firms and professionals and to reduce financial barriers. It is also important for the government to lay down rules and regulations that must be enforced among the construction professionals and firms in the Lagos state construction industry.

Keywords: BIM barriers, BIM adoption characteristics, construction industry, Lagos State Nigeria

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Authors: Elena V. Lysenko

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Motivating as the leading function of a modern Human Resources Management involves issues of increasing the effectiveness of the organization in a broader context. During the formation of motivational systems, the top-management of organization should pay equal attention to both external motivation (incentive system) and internal (self-motivation). The balance of internal and external motivation harmonizes the relations between employers and employees, increases the level of job satisfaction by the organization staff, which in turn leads the organization to success and ensures the organization`s profitability and competitiveness in the market environment. The article is devoted to the study of personnel motivation system in the small metal trade company, which is located in Yekaterinburg, Russian Federation. The study took place during November-December, 2016 ordered by the Company Director to analyze the motivational potential of work (managerial aspect of motivation) and motivation of personnel (personnel aspect of motivation) with the purpose to construct a system of employees’ motivation. The research tools included 6 specially selected tests of motivation, which are: “Motivation profile of your job”, “Constructive motivational attitudes”, Tests about Motivation of achievements (1st variant: Test by А.Mehrabian by the theory of D.С.McClelland and 2nd variant: Test about leading needs according with the theory of D.С.MacClelland), Tests by T.Elers (1st variant: “Determination of the motivation towards success or to avoid failure” and 2nd variant: “Trends to achieve results or to avoid failure”). The results of the study showed only one, but fundamental problem of the whole organization: high level of both motivational potential in work and self-motivation, especially in terms of achievement motivation, but serious lack of productivity. According the results which study showed this problem is derived from insufficient staff competence. The research suggests basic guidelines in order to build the new personnel motivation system for this Company, which is planned to be developed in the nearest future.

Keywords: incentive system, motivation of achievements, motivation system, self-motivation

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Authors: Choonoh Lee, Seyeon Park, Dongyun Kang, Jaehyeong Choi, Soojee Kim, Younggeun Kim

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Market Kurly is the first South Korean online grocery retailer that guarantees same-day, overnight shipping. More than 1.6 million customers place an average of 4.7 million orders and add 3 to 14 products into a cart per month. The company has sold almost 30,000 kinds of various products in the past 6 months, including food items, cosmetics, kitchenware, toys for kids/pets, and even flowers. The company is operating and expanding multiple dry, cold, and frozen fulfillment centers in order to store and ship these products. Due to the scale and complexity of the fulfillment, pick-pack-ship processes are planned and operated in batches, and thus, the planning that decides the batch of the customers’ orders is a critical factor in overall productivity. This paper introduces a metaheuristic optimization method that reduces the complexity of batch processing in a fulfillment center. The method is an iterative genetic algorithm with heuristic creation and evolution strategies; it aims to group similar orders into pick-pack-ship batches to minimize the total number of distinct products. With a well-designed approach to create initial genes, the method produces streamlined plans, up to 13.5% less complex than the actual plans carried out in the company’s fulfillment centers in the previous months. Furthermore, our digital-twin simulations show that the optimized plans can reduce 3% of operation time for packing, which is the most complex and time-consuming task in the process. The optimization method implements a multithreading design on the Spring framework to support the company’s warehouse management systems in near real-time, finding a solution for 4,000 orders within 5 to 7 seconds on an AWS c5.2xlarge instance.

Keywords: fulfillment planning, genetic algorithm, online grocery retail, optimization

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Authors: Vaishali Joshi

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In the past, companies and buyers operated as if there was infinite availability of natural resources for usage, which has resulted in the loss of our globe's natural ecosystem. People's consciousness of ecological concerns had increased, which showed the way for the evolution of the green revolution with the objective of discontinuing the use of products that are harmful to the ecosystem of the earth. This green revolution has made the consumers head toward those companies which are providing eco-friendly products s/service s through less eco-harmful ways. Studies show that companies started gaining a reputation in the market through their eco-friendly activities in their business. Hence companies should be alert to understand the consumer's environmentally friendly consumption behavior to survive and be in the game of the competition. Green marketing efforts guarantee beneficial exchanges without harmful consequences for current and /or upcoming generations. This hits the green policies of those companies which are claiming environmental concern. This means that these companies not only focus on the impact of their production and products on the ecosystem but also on every small activity in their value chain. One of the most ignored parts of the value chain is the medium through which the marketing of products/services is done. These companies should also take into account to what degree their selection of advertising media affects the ecosystem of the earth. In this study, a hypothetical fashion apparel brand known as "Dolphin" will be studied. In particular, the following objectives are framed: i) to study the brand attitude of the given fashion brand due to its selection of eco-friendly advertising medium ii) to study the advertisement attitude of the given fashion brand due to its selection of eco-friendly advertising medium and iii) to study the purchase intention of the given fashion brand due to its selection of eco-friendly advertising medium. An online experiment will be conducted. Respondents between the ages of 20-and 64 years will be selected randomly from the online consumer panel database. The findings of this study will have a great impact on the companies that are claiming environmental concerns by understanding how the advertising media is affecting the company’s brand image in the long run.

Keywords: eco-friendly advertising media, fashion, attitude, purchase intention

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Authors: Oluwatosin M. A. Jesuyon

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In order to propose a simpler tool that eliminates the age-long problems associated with the traditional index method for selection of multiple traits in broilers, the Barttlet factor regression equation is being proposed as an alternative selection tool. 100 day-old chicks each of Arbor Acres (AA) and Annak (AN) broiler strains were obtained from two rival hatcheries in Ibadan Nigeria. These were raised in deep litter system in a 56-day feeding trial at the University of Ibadan Teaching and Research Farm, located in South-west Tropical Nigeria. The body weight and body dimensions were measured and recorded during the trial period. Eight (8) zoometric measurements namely live weight (g), abdominal circumference, abdominal length, breast width, leg length, height, wing length and thigh circumference (all in cm) were recorded randomly from 20 birds within strain, at a fixed time on the first day of the new week respectively with a 5-kg capacity Camry scale. These records were analyzed and compared using completely randomized design (CRD) of SPSS analytical software, with the means procedure, Factor Scores (FS) in stepwise Multiple Linear Regression (MLR) procedure for initial live weight equations. Bartlett Factor Score (BFS) analysis extracted 2 factors for each strain, termed Body-length and Thigh-meatiness Factors for AA, and; Breast Size and Height Factors for AN. These derived orthogonal factors assisted in deducing and comparing trait-combinations that best describe body conformation and Meatiness in experimental broilers. BFS procedure yielded different body conformational traits for the two strains, thus indicating the different economic traits and advantages of strains. These factors could be useful as selection criteria for improving desired economic traits. The final Bartlett Factor Regression equations for prediction of body weight were highly significant with P < 0.0001, R2 of 0.92 and above, VIF of 1.00, and DW of 1.90 and 1.47 for Arbor Acres and Annak respectively. These FSR equations could be used as a simple and potent tool for selection during poultry flock improvement, it could also be used to estimate selection index of flocks in order to discriminate between strains, and evaluate consumer preference traits in broilers.

Keywords: alternative selection tool, Bartlet factor regression model, consumer preference trait, linear and body measurements, live body weight

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Authors: Eric D. Olson

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The lesbian/gay/bisexual/transgender/queer/questioning tourist (LGBTQ+) travels more frequently, spends more money on travel, and is more likely to travel internationally compared to their straight/heterosexual counterparts. For Vietnam, this represents a huge opportunity to increase international tourism, considering social advancements and recognition of the LGBTQ+ have greatly increased in the past few years in Vietnam. For example, Vietnam’s Health Ministry confirmed in 2022 that same-sex attraction and being transgender is not a mental health condition. A robust hospitality ecosystem of LGBTQ+ tourism suppliers already exists in Vietnam catering to LGBTQ+ tourists (e.g., Gay Hanoi Tours, VietPride). Vietnam is a safe and welcoming destination with incredible nature, cosmopolitan cities, and friendly people; however, there is a dearth of academic and industry research that has examined how LGBTQ+ international tourists perceive Vietnam as an LGBTQ+ friendly destination. To rectify this gap, this research examines Vietnam as an LGBTQ+ destination in order to provide government officials, destination marketers, and industry practitioners with insight into this increasingly visible tourist market segment. A self-administered survey instrument was administered to n=375 international LGBTQ+ tourists to examine their perceptions of Vietnam. A factor analysis found three categories of LGBTQ+ factors of visitation to Vietnam: safety and security (Eigenvalue = 4.12, variance = 32.45, α = .82); LGBTQ+ attractions (Eigenvalue = 3.65 variance = 24.23, α = .75); and friendly interactions (Eigenvalue = 3.71, variance = 10.45, α = .96). Multiple regression was used to examine LGBTQ+ visitation factors and intention to visit Vietnam, F=12.20 (2, 127), p < .001, R2 = .56. Safety and security (β = 0.42, p < .001), LGBTQ+ attractions (β = 0.61, p < .001) and friendly interactions (β = 0.42, p < .001) are predictors to visit Vietnam. Results are consistent with previous research that highlight safety/security is of utmost importance to the community when traveling. Attractions, such as LGBTQ+ tours, suppliers, and festivals can also be used as a pull factor in encouraging tourism. Implications/limitations will be discussed.

Keywords: tourism, LGBTQ, vietnam, regression

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Authors: Ambra Giovannelli, Erika Maria Archilei

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The electrical power consumption related to refrigeration systems is evaluated to be in the order of 15% of the total electricity consumption worldwide. For this reason, in the last years several energy saving techniques have been suggested to reduce the power demand of refrigeration and air conditioning plants. The research work deals with the development of an innovative internal power recovery system for industrial cryogenic cooling plants. Such system is based on a Compressor-Expander Group (CEG). Both the expander and the compressor have been designed starting from automotive turbocharging components, strongly modified to take refrigerant fluid properties and specific system requirements into consideration. A preliminary choice of the machines (radial compressors and expanders) among existing components available on the market was realised according to the rules of the similarity theory. Once the expander was selected, it was strongly modified and performance verified by means of steady-state 3D CFD simulations. This paper focuses the attention on the development of the second CEG main component: the compressor. Once the preliminary selection has been done, the compressor geometry has been modified to take the new boundary conditions into account. In particular, the impeller has been machined to address the required total enthalpy increase. Such evaluation has been carried out by means of a simplified 1D model. Moreover, a vaneless diffuser has been added, modifying the shape of casing rear and front disks. To verify the performance of the modified compressor geometry and suggest improvements, a numerical fluid dynamic model has been set up and the commercial Ansys-CFX software has been used to perform steady-state 3D simulations. In this work, all the numerical results will be shown, highlighting critical aspects and suggesting further developments to increase compressor performance and flexibility.

Keywords: vapour compression systems, energy saving, refrigeration plant, organic fluids, centrifugal compressor

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Authors: Sulemana Ibrahim

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Food security remains a paramount global challenge, with vulnerable regions grappling with issues of hunger and malnutrition. This study embarks on a comprehensive exploration of data-driven strategies aimed at ameliorating food security in such regions. Our research employs a multifaceted approach, integrating data analytics to predict crop yields, optimizing supply chains, and enhancing food distribution networks. The study unfolds as a multi-dimensional analysis, commencing with the development of robust machine learning models harnessing remote sensing data, historical crop yield records, and meteorological data to foresee crop yields. These predictive models, underpinned by convolutional and recurrent neural networks, furnish critical insights into anticipated harvests, empowering proactive measures to confront food insecurity. Subsequently, the research scrutinizes supply chain optimization to address food security challenges, capitalizing on linear programming and network optimization techniques. These strategies intend to mitigate loss and wastage while streamlining the distribution of agricultural produce from field to fork. In conjunction, the study investigates food distribution networks with a particular focus on network efficiency, accessibility, and equitable food resource allocation. Network analysis tools, complemented by data-driven simulation methodologies, unveil opportunities for augmenting the efficacy of these critical lifelines. This study also considers the ethical implications and privacy concerns associated with the extensive use of data in the realm of food security. The proposed methodology outlines guidelines for responsible data acquisition, storage, and usage. The ultimate aspiration of this research is to forge a nexus between data science and food security policy, bestowing actionable insights to mitigate the ordeal of food insecurity. The holistic approach converging data-driven crop yield forecasts, optimized supply chains, and improved distribution networks aspire to revitalize food security in the most vulnerable regions, elevating the quality of life for millions worldwide.

Keywords: data-driven strategies, crop yield prediction, supply chain optimization, food distribution networks

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Authors: Robin Molinier

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Industrial symbiosis (I.S) rely on two modes of cooperation that are infrastructure sharing and resource substitution to obtain economic and environmental benefits. The former consists in the intensification of use of an asset while the latter is based on the use of waste, fatal energy (and utilities) as alternatives to standard inputs. Both modes, in fact, rely on the shift from a business-as-usual functioning towards an alternative production system structure so that in a business point of view the distinction is not clear. In order to investigate the way those cooperation modes can be distinguished, we consider the stakeholders' interplay in the business model structure regarding their resources and requirements. For infrastructure sharing (following economic engineering literature) the cost function of capacity induces economies of scale so that demand pooling reduces global expanses. Grassroot investment sizing decision and the ex-post pricing strongly depends on the design optimization phase for capacity sizing whereas ex-post operational cost sharing minimizing budgets are less dependent upon production rates. Value is then mainly design driven. For resource substitution, synergies value stems from availability and is at risk regarding both supplier and user load profiles and market prices of the standard input. Baseline input purchasing cost reduction is thus more driven by the operational phase of the symbiosis and must be analyzed within the whole sourcing policy (including diversification strategies and expensive back-up replacement). Moreover, while resource substitution involves a chain of intermediate processors to match quality requirements, the infrastructure model relies on a single operator whose competencies allow to produce non-rival goods. Transaction costs appear higher in resource substitution synergies due to the high level of customization which induces asset specificity, and non-homogeneity following transaction costs economics arguments.

Keywords: business model, capacity, sourcing, synergies

Procedia PDF Downloads 173

Authors: Muhammad Faheem Khakhi, Jian Yu Wang, Salman Muhammad, Muhammad Faisal Shabir

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Population growth and Chinese two-child policy will boost pharmaceutical market, and it will continue to maintain the growth for a period of time in the future, the traditional pharmacy dispensary has been unable to meet the growing medical needs of the peoples. Under the strong support of the national policy, the automatic transformation of traditional pharmacies is the inclination of the Times, the new type of intelligent pharmacy system will continue to promote the development of the pharmaceutical industry. Under this background, based on PLC control, the paper proposed an intelligent storage and automatic drug delivery system; complete design of the lower computer's control system and the host computer's software system has been present. The system can be applied to dispensing work for Chinese herbal medicinal and Western medicines. Firstly, the essential of intelligent control system for pharmacy is discussed. After the analysis of the requirements, the overall scheme of the system design is presented. Secondly, introduces the software and hardware design of the lower computer's control system, including the selection of PLC and the selection of motion control system, the problem of the human-computer interaction module and the communication between PC and PLC solves, the program design and development of the PLC control system is completed. The design of the upper computer software management system is described in detail. By analyzing of E-R diagram, built the establish data, the communication protocol between systems is customize, C++ Builder is adopted to realize interface module, supply module, main control module, etc. The paper also gives the implementations of the multi-threaded system and communication method. Lastly, each module of the lower computer control system is tested. Then, after building a test environment, the function test of the upper computer software management system is completed. On this basis, the entire control system accepts the overall test.

Keywords: automatic pharmacy, PLC, control system, management system, communication

Procedia PDF Downloads 307

Authors: Mohamed Saad, Huda Ismail

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The purpose of this research is to examine the impact of cryptocurrency classification on money laundering crimes and to analyze how the preferences of criminals differ according to the type of digital currency used. Specifically, we aim to explore the roles of stablecoins, utility coins, and privacy tokens in facilitating or hindering money laundering activities and to identify the key factors that influence the choices of criminals in using these cryptocurrencies. To achieve our research objectives, we used a dataset for the most highly traded cryptocurrencies (32 currencies) that were published on the coin market cap for 2022. In addition to conducting a comprehensive review of the existing literature on cryptocurrency and money laundering, with a focus on stablecoins, utility coins, and privacy tokens, Furthermore, we conducted several Multivariate analyses. Our study reveals that the classification of cryptocurrency plays a significant role in money laundering activities, as criminals tend to prefer certain types of digital currencies over others, depending on their specific needs and goals. Specifically, we found that stablecoins are more commonly used in money laundering due to their relatively stable value and low volatility, which makes them less risky to hold and transfer. Utility coins, on the other hand, are less frequently used in money laundering due to their lack of anonymity and limited liquidity. Finally, privacy tokens, such as Monero and Zcash, are increasingly becoming a preferred choice among criminals due to their high degree of privacy and untraceability. In summary, our study highlights the importance of understanding the nuances of cryptocurrency classification in the context of money laundering and provides insights into the preferences of criminals in using digital currencies for illegal activities. Based on our findings, our recommendation to the policymakers is to address the potential misuse of cryptocurrencies for money laundering. By implementing measures to regulate stable coins, strengthening cross-border cooperation, fostering public-private partnerships, and increasing cooperation, policymakers can help prevent and detect money laundering activities involving digital currencies.

Keywords: crime, cryptocurrency, money laundering, tokens.

Procedia PDF Downloads 86

Authors: Abdelsalam Elawwad, Mostafa Ragab, Hisham Abdel-Halim

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Leakage in sewerage system can cause groundwater and soil contamination in urban areas, especially in area with a high groundwater table. This is a serious problem in small villages in developing countries that rely on ground water as a source for irrigation and drinking purposes. In the developed countries, the recent trend in areas with low population densities is vacuum sewerage system, which is environmentally safer than conventional gravity system, protecting public health, preventing exfiltration to the ground water, very easily applied in a relatively short time and can cope with a faster expansion of the urbanized areas. The aim of this work is to assess the feasibility of using vacuum sewerage in developing country, such as Egypt. Knowledge of local conditions can determine the most suitable sewer system for a specific region. Technical, environmental and financial comparisons between conventional sewerage system and vacuum sewerage system were held using statistical analysis. Different conditions, such as population densities, geometry of area, and ground water depths were evaluated. Sample comprising of 30 Egyptian villages was selected, where a complete design for conventional sewerage system and vacuum sewerage system was done. Based on this study, it is recommended from the environmental point of view to construct the vacuum sewerage system in such villages with low population densities; however, it is not economic for all cases. From financial point of view, vacuum sewerage system was a good competitor to conventional systems in flat areas and areas with high groundwater table. The local market supplying of the construction equipment especially collection chambers will greatly affect the investment cost. Capacity building and social mobilization will also play a great role in sustainability of this system. At the end, it is noteworthy that environmental sustainability and public health are more important than the financial aspects.

Keywords: ground water, conventional system, vacuum system, statistics, cost, density, terrain

Procedia PDF Downloads 275

Authors: W. R. M. Shehani Shanika

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Selling goods and services using images, names and personalities of celebrities has become a common marketing strategy identified in modern physical and online markets. Two concepts called globalization and open economy have given numerous reasons to develop businesses to earn higher profits. Therefore, global market plus domestic markets in various countries have vigorously endorsing images of famous sport stars, film stars, singing stars and cartoon characters for the purpose of increasing demand for goods and services rendered by them. It has been evident that these trade strategies have become a threat to famous personalities in financially and personally. Right to the image is a basic human right which celebrities owned to avoid themselves from various commercial exploitations. In this respect, this paper aims to assess whether the law relating to character merchandising satisfactorily protects right to image of celebrities. However, celebrities can decide how much they receive for each representation to the general public. Simply they have exclusive right to decide monetary value for their image. But most commonly every country uses law relating to unfair competition to regulate matters arise thereof. Legal norms in unfair competition are not enough to protect image of celebrities. Therefore, celebrities must be able to avoid unauthorized use of their images for commercial purposes by fraudulent traders and getting unjustly enriched, as their images have economic value. They have the right for use their image for any commercial purpose and earn profits. Therefore it is high time to recognize right to image as a new dimension to be protected in the legal framework of character merchandising. Unfortunately, to the author’s best knowledge there are no any uniform, single international standard which recognizes right to the image of celebrities in the context of character merchandising. The paper identifies it as a controversial legal barrier faced by celebrities in the rapidly evolving marketplace. Finally, this library-based research concludes with proposals to ensure the right to image more broadly in the legal context of character merchandising.

Keywords: brand endorsement, celebrity, character merchandising, intellectual property rights, right to image, unfair competition

Procedia PDF Downloads 138

Authors: Arindam Chaudhuri

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Classification of data has been actively used for most effective and efficient means of conveying knowledge and information to users. The prima face has always been upon techniques for extracting useful knowledge from data such that returns are maximized. With emergence of huge datasets the existing classification techniques often fail to produce desirable results. The challenge lies in analyzing and understanding characteristics of massive data sets by retrieving useful geometric and statistical patterns. We propose a supervised parallel fuzzy rough support vector machine (PFRSVM) for data classification in cloud environment. The classification is performed by PFRSVM using hyperbolic tangent kernel. The fuzzy rough set model takes care of sensitiveness of noisy samples and handles impreciseness in training samples bringing robustness to results. The membership function is function of center and radius of each class in feature space and is represented with kernel. It plays an important role towards sampling the decision surface. The success of PFRSVM is governed by choosing appropriate parameter values. The training samples are either linear or nonlinear separable. The different input points make unique contributions to decision surface. The algorithm is parallelized with a view to reduce training times. The system is built on support vector machine library using Hadoop implementation of MapReduce. The algorithm is tested on large data sets to check its feasibility and convergence. The performance of classifier is also assessed in terms of number of support vectors. The challenges encountered towards implementing big data classification in machine learning frameworks are also discussed. The experiments are done on the cloud environment available at University of Technology and Management, India. The results are illustrated for Gaussian RBF and Bayesian kernels. The effect of variability in prediction and generalization of PFRSVM is examined with respect to values of parameter C. It effectively resolves outliers’ effects, imbalance and overlapping class problems, normalizes to unseen data and relaxes dependency between features and labels. The average classification accuracy for PFRSVM is better than other classifiers for both Gaussian RBF and Bayesian kernels. The experimental results on both synthetic and real data sets clearly demonstrate the superiority of the proposed technique.

Keywords: FRSVM, Hadoop, MapReduce, PFRSVM

Procedia PDF Downloads 489

Authors: Ankit Kamboj, Shikha Talwar, Nilesh Powar

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To successfully deliver our products in the market, the employees need to be in a safe environment, especially in an industrial and manufacturing environment. The consequences of delinquency in wearing safety glasses while working in industrial plants could be high risk to employees, hence the need to develop a real-time automatic detection system which detects the persons (violators) not wearing safety glasses. In this study a convolutional neural network (CNN) algorithm called faster region based CNN (Faster RCNN) with rotated bounding box has been used for detecting safety glasses on persons; the algorithm has an advantage of detecting safety glasses with different orientation angles on the persons. The proposed method of rotational bounding boxes with a convolutional neural network first detects a person from the images, and then the method detects whether the person is wearing safety glasses or not. The video data is captured at the entrance of restricted zones of the industrial environment (manufacturing plant), which is further converted into images at 2 frames per second. In the first step, the CNN with pre-trained weights on COCO dataset is used for person detection where the detections are cropped as images. Then the safety goggles are labelled on the cropped images using the image labelling tool called roLabelImg, which is used to annotate the ground truth values of rotated objects more accurately, and the annotations obtained are further modified to depict four coordinates of the rectangular bounding box. Next, the faster RCNN with rotated bounding box is used to detect safety goggles, which is then compared with traditional bounding box faster RCNN in terms of detection accuracy (average precision), which shows the effectiveness of the proposed method for detection of rotatory objects. The deep learning benchmarking is done on a Dell workstation with a 16GB Nvidia GPU.

Keywords: CNN, deep learning, faster RCNN, roLabelImg rotated bounding box, safety goggle detection

Procedia PDF Downloads 127

Authors: Sufian Abdo Jilo

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Veterinary services conserve and maintain animal life and improve the living conditions of human beings through improving rural livelihoods and feeding; veterinary services also address global health crises by preventing risks such as emerging pandemic diseases, antimicrobial resistance, contamination of foods, and environmental health problems at their origin. The purpose of this policy brief is to analyze the way veterinary organizations provide services and to propose an optimal organization for veterinary services in developing countries. The current situation of veterinary institutions in developing countries can't counter the challenge related to animal health and productivity. As a result, reorganization, amalgamation, merging, and consolidation of veterinary health services (veterinary clinics, slaughterhouses, quarantine, and veterinary markets) together with the construction of closer veterinary service facilities and the construction of common areas will help institutions to strengthen cooperation among different veterinarians, which is the first steps for the implementation of a One Health platform and multidisciplinary activities. The improvement and reorganization of the veterinary services institutions will also help the veterinary clinics easily obtain various medical chemicals such as blood and rumen from abattoirs, enhance the surveillance of livestock diseases, enable the community to buy healthy animals from the animal market, and help to reduce economic waste. The services can be performed by a small number of veterinarians through a model of specific areas common to all veterinary services. This model improves the skills and knowledge of veterinarians in all aspects of veterinary medicine and saves students and researchers time. Communities or customers can save time by getting all veterinary services at once. It saves the budget on purchasing medical equipment and medicines at each location and avoids expiration dates on medicines. This model is the latest solution to the global health crisis and should be implemented in the near future to combat the emergence and reemergence of new pathogenic microorganisms.

Keywords: abattoir, developing countries, reform, service, veterinary

Procedia PDF Downloads 83

Authors: N. C. van der Merwe, J. Oosthuizen, M. F. Makhetha, J. Adams, B. K. Dajee, S-R. Schneider

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Women representing high-risk breast cancer families, who tested negative for pathogenic mutations in BRCA1 and BRCA2, are four times more likely to develop breast cancer compared to women in the general population. Sequencing of genes involved in genomic stability and DNA repair led to the identification of novel contributors to familial breast cancer risk. These include BLM and PALB2. Bloom's syndrome is a rare homozygous autosomal recessive chromosomal instability disorder with a high incidence of various types of neoplasia and is associated with breast cancer when in a heterozygous state. PALB2, on the other hand, binds to BRCA2 and together, they partake actively in DNA damage repair. Archived DNA samples of 66 BRCA1/2 negative high-risk breast cancer patients were retrospectively selected based on the presence of an extensive family history of the disease ( > 3 affecteds per family). All coding regions and splice-site boundaries of both genes were screened using High-Resolution Melting Analysis. Samples exhibiting variation were bi-directionally automated Sanger sequenced. The clinical significance of each variant was assessed using various in silico and splice site prediction algorithms. Comprehensive screening identified a total of 11 BLM and 26 PALB2 variants. The variants detected ranged from global to rare and included three novel mutations. Three BLM and two PALB2 likely pathogenic mutations were identified that could account for the disease in these extensive breast cancer families in the absence of BRCA mutations (BLM c.11T > A, p.V4D; BLM c.2603C > T, p.P868L; BLM c.3961G > A, p.V1321I; PALB2 c.421C > T, p.Gln141Ter; PALB2 c.508A > T, p.Arg170Ter). Conclusion: The study confirmed the contribution of pathogenic mutations in BLM and PALB2 to the familial breast cancer burden in South Africa. It explained the presence of the disease in 7.5% of the BRCA1/2 negative families with an extensive family history of breast cancer. Segregation analysis will be performed to confirm the clinical impact of these mutations for each of these families. These results justify the inclusion of both these genes in a comprehensive breast and ovarian next generation sequencing cancer panel and should be screened simultaneously with BRCA1 and BRCA2 as it might explain a significant percentage of familial breast and ovarian cancer in South Africa.

Keywords: Bloom Syndrome, familial breast cancer, PALB2, South Africa

Procedia PDF Downloads 235

Authors: Nkwenti Mbelli Njah

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This research was motivated by a project requested by AXA on the topic of pensions payable under the workers compensation (WC) line of business. There are two types of pensions: the compulsorily recoverable and the not compulsorily recoverable. A pension is compulsorily recoverable for a victim when there is less than 30% of disability and the pension amount per year is less than six times the minimal national salary. The law defines that the mathematical provisions for compulsory recoverable pensions must be calculated by applying the following bases: mortality table TD88/90 and rate of interest 5.25% (maybe with rate of management). To manage pensions which are not compulsorily recoverable is a more complex task because technical bases are not defined by law and much more complex computations are required. In particular, companies have to predict the amount of payments discounted reflecting the mortality effect for all pensioners (this task is monitored monthly in AXA). The purpose of this research was thus to develop a stochastic model for the future mortality of the worker’s compensation pensioners of both the Portuguese market workers and AXA portfolio. Not only is past mortality modeled, also projections about future mortality are made for the general population of Portugal as well as for the two portfolios mentioned earlier. The global model was split in two parts: a stochastic model for population mortality which allows for forecasts, combined with a point estimate from a portfolio mortality model obtained through three different relational models (Cox Proportional, Brass Linear and Workgroup PLT). The one-year death probabilities for ages 0-110 for the period 2013-2113 are obtained for the general population and the portfolios. These probabilities are used to compute different life table functions as well as the not compulsorily recoverable reserves for each of the models required for the pensioners, their spouses and children under 21. The results obtained are compared with the not compulsory recoverable reserves computed using the static mortality table (TD 73/77) that is currently being used by AXA, to see the impact on this reserve if AXA adopted the dynamic tables.

Keywords: compulsorily recoverable, life table functions, relational models, worker’s compensation pensioners

Procedia PDF Downloads 163

Authors: Mauro Cristeche

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This work begins with a very simple question: How does the State spend? Argentina is witnessing a process of growing nationalization of social life, so it is necessary to find out the explanations of the phenomenon on the specific dynamic of the capitalist mode of production in Argentina and its transformations in the last decades. Then the new question is: what happened in Argentina that could explain this phenomenon? Since the seventies, the capital growth in Argentina faces deep competitive problems. Until that moment the agrarian wealth had worked as a compensation mechanism, but it began to find its limits. In the meantime, some important demographical and structural changes had happened. The strategy of the capitalist class had to become to seek in the cheapness of the labor force the main source of compensation of its weakness. As a result, a tendency to worsen the living conditions and fragmentation of the working class started to develop, manifested by unemployment, underemployment, and the fall of the purchasing power of the salary as a highlighted fact. As a consequence, it is suggested that the role of the State became stronger and public expenditure increased, as a historical trend, because it has to intervene to face the contradictions and constant growth problems posed by the development of capitalism in Argentina. On the one hand, the State has to guarantee the process of buying the cheapened workforce and at the same time the process of reproduction of the working class. On the other hand, it has to help to reproduce the individual capitals but needs to ‘attack’ them in different ways. This is why the role of the State is said to be the general political representative to the national portion of the total social capital. What will be studied is the dynamic of the intervention of the Argentine State in the context of the particular national process of capital growth, and its dynamics in the last decades. What this paper wants to show are the main general causes that could explain the phenomenon of nationalization of the social life and how it has impacted the life conditions of the working class and the system of rights.

Keywords: Argentina, nationalization, public policies, rights, state

Procedia PDF Downloads 136

Authors: Kedar Vishnu, Parmod Kumar

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India is becoming most favored retail destination in the world. The organized retail has presented many opportunities to farmers to increase income by shifting cropping pattern from food grains to commercial crops. Previous research revealed potential benefits for farmers by supplying fruits and vegetables to organized retail channels. However the supply of fruits and vegetables from small and marginal farmers remain low than expected. The main objective of this paper is to identify the factors determining market participation of smallholder farmers in modern organized retail chains. Attempt is also made to find out factors influencing the choice of participation in particular organized retail collection centers as compared to other organized retail. The paper was based on primary survey of 40 Beans and Tomato farmers who supply to organized retail collection centers from Karnataka, India. Multiple regression technique is used to identify the factors determining quantity sold at collection centers. The regression result, show that area under vegetables, yield, and price from modern collection center and having access to technical help were found significantly affecting quantity sold into modern organized retail channels. On the opposite, increased rejection rates and vegetable prices at APMC were found influencing farmers decision into the reverse side. Empirical result of the multinomial logit model show that Reliance fresh has tendency to prefer large farmers who can supply more quality and better quantity compared with TESCO and More collection centers. The negative sign of area, having access to technical help, transportation cost, and number of bore wells led to higher probability of farmers to participate in Reliance Fresh collection centers as compared with More and TESCO.

Keywords: fruits, vegetables, organized retail markets, multinomial logit model

Procedia PDF Downloads 344

Authors: Bolanle Deborah Motilewa, E. K. Rowland Worlu, Gbenga Mayowa Agboola, Ayodele Maxwell Olokundun

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In the pursuit of profit maximization as a major objective of business organizations, several firms forfeit their social and economic responsibility whilst focusing on activities that are deemed to solely profit the firm, without taking into cognizance the effect of their operations on the society in which they operate. Business analysts have, however, realized the determinant role of social responsibility in corporate performance, such that firms that are able to imbibe corporate social responsibility in their core business operations may be able to take advantage of the social reputation gained across their several stakeholders. Small and medium enterprises operating in highly competitive markets are also advised to leverage on this reputation gained from being socially responsible, if they seek ways to remain relevant in the same markets dominated by multinational corporations. Adapting a case study approach, this study highlights the advantages (such as employee and customer loyalty) gained by House of Tara, a small business operating in the beauty and make-up industry in Nigeria, resulting from the firm’s commitment to advancing the society in which it operates through several social responsibility activities. It is observed that although competing with major makeup brands such as MAC, Maybelline, Dior, Mary Kay and others, House of Tara has been able to not only thrive, but gain a sizeable market in the Nigerian makeup industry, because several consumers purchase their products not solely because of the quality or price of their product, but because they perceive themselves as buying into the firm’s CSR vision. This study, therefore, recommends that small and medium enterprises that may lack adequate resources (manpower, technology, capital) needed to successfully compete with multinationals, can harness the potentials in the reputation and loyalty gained from adequate investment in corporate social responsibility.

Keywords: corporate social responsibility, small and medium enterprises, House of Tara, sustainability

Procedia PDF Downloads 272