Search results for: profit maximization

Authors: Loris Franchi, Daniele Calvi, Sabrina Corpino

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This paper presents a design methodology in which stakeholders are assisted with the exploration of a so-called negotiation space, aiming to the maximization of both group social welfare and single stakeholder’s perceived utility. The outcome results in less design iterations needed for design convergence while obtaining a higher solution effectiveness. During the early stage of a space project, not only the knowledge about the system but also the decision outcomes often are unknown. The scenario is exacerbated by the fact that decisions taken in this stage imply delayed costs associated with them. Hence, it is necessary to have a clear definition of the problem under analysis, especially in the initial definition. This can be obtained thanks to a robust generation and exploration of design alternatives. This process must consider that design usually involves various individuals, who take decisions affecting one another. An effective coordination among these decision-makers is critical. Finding mutual agreement solution will reduce the iterations involved in the design process. To handle this scenario, the paper proposes a design methodology which, aims to speed-up the process of pushing the mission’s concept maturity level. This push up is obtained thanks to a guided negotiation space exploration, which involves autonomously exploration and optimization of trade opportunities among stakeholders via Artificial Intelligence algorithms. The negotiation space is generated via a multidisciplinary collaborative optimization method, infused by game theory and multi-attribute utility theory. In particular, game theory is able to model the negotiation process to reach the equilibria among stakeholder needs. Because of the huge dimension of the negotiation space, a collaborative optimization framework with evolutionary algorithm has been integrated in order to guide the game process to efficiently and rapidly searching for the Pareto equilibria among stakeholders. At last, the concept of utility constituted the mechanism to bridge the language barrier between experts of different backgrounds and differing needs, using the elicited and modeled needs to evaluate a multitude of alternatives. To highlight the benefits of the proposed methodology, the paper presents the design of a CubeSat mission for the observation of lunar radiation environment. The derived solution results able to balance all stakeholders needs and guaranteeing the effectiveness of the selection mission concept thanks to its robustness in valuable changeability. The benefits provided by the proposed design methodology are highlighted, and further development proposed.

Keywords: concurrent engineering, artificial intelligence, negotiation in engineering design, multidisciplinary optimization

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Authors: Ahmad Abdulkadir Ibrahim

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The Islamic law of transactions laid down the methods and instruments of accounting and analyzed its basic assumptions in the modern world. There is a need to examine the implications of accounting initiatives in the Muslim world and attempt to outline the important characteristics of Islamic accounting and how Islamic accounting resolves the problem of measuring the cost of Murabaha goods in case of exchange rate variation. The research tends to discuss an analytical approach to the Islamic accounting concept as well as elaborating the jurisprudential matter and practical aspects of accounting in Islamic financial transactions. It also aims to alert the practitioners of accounting in the Islamic world to be aware of the concept of accounting in Islamic jurisprudence and its historical development. The methodology adopted in this research is the qualitative method through the consultation of relevant literature, which focuses on the thematic study of the subject matter. This is followed by an analysis and discussion of the contents of the materials used. It is concluded that Islamic accounting is unique in its norms as it has been characterized by fairness, accuracy in measuring tools, truthfulness, mutual trust, moderation in making a profit, and tolerance. It was also qualified by capacity and flexibility in terms of the tools and terminology used and invented by Islamic jurisprudence in the accounting system, which indicates its validity and consistency anytime and anywhere. An important conclusion of the research also lies in the refutation of the popular idea that an Italian writer known as Luca Pacilio was the first writer who developed the basis of double-entry due to the presented proofs by Muslim scholars of critical accounting developments, which cannot be ignored. It concludes further that Islamic jurisprudence draws the accounting system codified in the foundations of a market that is far from usury, fraud, cheating, and unfair competition in all areas.

Keywords: accounting, Islamic accounting, Islamic transactions, Islamic jurisprudence, double entry, murabaha, characteristics

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Authors: René Haarhoff

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Consumers are constantly reminded of their responsibility towards the environment in a world where words such as global warming, carbon footprint, recycling or ‘green’’ everything has become common language. What was previously considered to be ordinary practices are in many instances frowned upon today and consumers are expected to individually contribute towards a greener mother earth. However unused recycle bins, single travelers in luxury cars, busy airports and vast deforested areas for new developments tell another story. The question arises whether the everyday man in the street really takes the responsibility to balance the three pillars of sustainability: the planet, its people and profit. Undeniably our activities impact on the environment where a healthy economy is needed in a fast paced global environment. The situation is further gloomed in instances where the consumer has paid for inclusive services which directly impacts on the environment. A prime example of this is the tourism industry: accommodation establishments or resorts include clean, daily washed towels and bedding, large bath tubs, inclusive use of electricity and water to name a few. This research evaluates environmentally friendly practices consumers follow at home and also when on holiday. Respondents at Bloemfontein airport, often using tourism products were included in the study. Results reveal that the majority of respondents state that they are concerned about the environment yet when questioned on donation towards endangered species, switching off lights in hotel rooms or using water sparingly a significant difference in results are evident. From the research results it is evident that consumers do not practice what they preach towards a greener environment.

Keywords: green, environment, consumer, tourism, sustainable practices

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Authors: Zeinab Papi

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This study was aimed at analyzing the copyright laws of Iran, Australia, the U.S., and library portals, thereby providing a proposed framework for the copyright of library resources for the NLAI and other Iranian libraries while considering the current situation and the internal Iranian laws. This is an applied study falling in the category of qualitative approach research. Documentary analysis method and comparative method were used to resolve the problem and answer the questions of the research. The two National Library of Australia (NLA) and Library of Congress (LC), together with the NLAI formed the research community. In addition, the Iranian Law for the Protection of Authors, Composers and Artists Rights (1970); the Australian Copyright Act (1968), and the U.S. Copyright Law (1976) were purposefully selected as three main resources among other documents and resources. Findings revealed that the dimensions of fair and non-profit use, duration of copyright, license, and agreement, copyright policy, moral rights, economic rights, and infringement of copyright were the main dimensions that, along with 49 main components, formed the proposed framework for the copyright of information resources for the NLAI and other Iranian libraries. It should be acknowledged that there are some differences in different copyright fields between countries' laws, and each country takes into account its internal conditions to compile and revise the laws. By following the laws of other countries, it is possible to effectively improve and develop copyright laws. The researcher hopes that this research can have its effects in creating awareness and ability among librarians, formulating a copyright policy in Iranian libraries, and helping legislators in revising copyright laws regarding library exceptions and exemptions.

Keywords: copyright, library resources, National Library and Archives of the I.R. of Iran, National Library of Australia, Library of Congress, copyright law

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Authors: Abiodun Oluwaseun Ibude

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Every now and then we hear of companies closing down their operations due to unethical practices like an overstatement of company’s balance sheet, concealing company’s debt, embezzlement of company’s fund, declaring false profit and so on. This has led to the liquidation of companies and the loss of investments of shareholders as well as the interest of other stakeholders. As a result of these ugly trends, there is need to put in place a formidable mechanism that will ensure that business activities are conducted in a healthy manner. It should also promote good ethics as well as ensure that the interest of stakeholders and the objectives of any organization is achieved within the confines of the law; wherein law exists to provide criminal penalties for falsification of documents and for conducting other irregularities. Based on the foregoing, it becomes imperative to ensure that steps are taken to stop this menace and face the challenges ahead. This calls for the practice of good governance. The purpose of this study is to identify various components of corporate governance and determine the impact of it on the performance of established organizations. A survey method with the use of questionnaire was applied in collecting data useful for this study which were later analyzed using correlation co-efficiency statistical tools in generating finding, making a conclusion, and necessary recommendation. From the research conducted, it was discovered that there are systems within organizations apart from regulatory agencies that ensure effective control of activities, promote accountability, and operational efficiency. However, some members of organizations fail to explore the usage of corporate governance and impact negatively of an organization’s performance. In conclusion, good corporate governance will not be achieved unless there is openness, honesty, transparency, accountability, and fairness.

Keywords: corporate governance, formidable mechanism, company’s balance sheet, stakeholders

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Authors: Svetlana Gudkova

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The Internet of Things experiences a rapid growth bringing inevitable changes into many spheres of human activities. As the Internet has changed the social and business landscape, IoT as its extension, can bring much more profound changes in economic value creation and competitiveness of the economies. It has been already recognized as the next industrial revolution. However, the development of IoT is in a great extent stimulated by the entrepreneurial activity. To expand and reach its full potential it requires proactive entrepreneurs, who explore the potential and create innovative ideas pushing the boundaries of IoT technologies' application further. The goal of the research is to analyze, how entrepreneurs utilize the opportunities created by IoT and how do they stimulate the development of IoT through discovering of new ways of generating economic value and creating opportunities, which attract other entrepreneurs. The qualitative research methods have been applied to prepare the case studies. Entrepreneurs are recognized as an engine of economic growth. They introduce innovative products and services into the market through the creation of a new combination of the existing resources and utilizing new knowledge. Entrepreneurs not only create economic value but what is more important, they challenge the existing business models and invent new ways of value creation. Through identification and exploitation of entrepreneurial opportunities, they create new opportunities for other entrepreneurs. It makes the industry more attractive to other profit/innovation-driven start-ups. IoT creates numerous opportunities for entrepreneurs in the different industries. Smart cities, healthcare, manufacturing, retail, agriculture, smart vehicles and smart buildings benefit a lot from IoT-based breakthrough innovations introduced by entrepreneurs. They reinvented successfully the business models and created new entrepreneurial opportunities for other start-ups to introduce next innovations.

Keywords: entrepreneurship, internet of things, breakthrough innovations, start-ups

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Authors: S. van Schalkwyk

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On international levels and across disciplines gender scholars have argued that patriarchal scripts of masculinity and femininity are harmful as they negatively impact constructions of selfhood and relations between women and men. Patriarchal ideologies serve as a scaffolding for dominance and subordination and fuel violence against women. Toxic masculinity—social discourses of men as violent, unemotional, and sexually dominant—are embedded in South African culture and are rooted in the high rates of gender violence occurring in the country. Finding strategies that can open up space for the interrogation of toxic masculinity is crucial in order to disrupt the destructive consequences of patriarchy in educational and social contexts. The University of the Free State (UFS) in South Africa in collaboration with the non-profit organization Gender Reconciliation International conducted a year-long series of workshops with male and female students. The aim of these workshops was to facilitate healing between men and women through collective dialogue processes. Drawing on a collective biography methodology outlined by feminist poststructuralists, this paper explores the impact of these workshops on gender relations. Findings show that the students experienced significant psychological connections with others during these dialogues, through which they began to interrogate their own gendered conditioning and harmful patriarchal assumptions and practices. This paper enhances insights into the possibilities for disrupting patriarchy in South African universities through feminist collective research efforts.

Keywords: collective biography methodology, South Africa, toxic masculinity, transforming gender oppression, violence against women

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Authors: Amrin Moger, Sagar Bhalerao, Martin Mathew

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Advertisements play a vital role in dissemination of information regarding products and services. Advertisements as Mass Media tool is not only a source of entertainment, but also a source of information, education and entertainment. It provides information about the outside world and exposes us to other ways of life and culture. Public service advertisements (PSA) are generally aimed at public well-being. Aim of PSA is not to make profit, but rather to change public opinion and raise awareness in the Society about a social issue.’ Start with the boys’ is one such PSA aims to create awareness about issue of ‘gender bias’ that is taught prevalent in the society. Persons with disabilities (PWDs) are also consumers of PSA in the society. The population of persons with disability in the society also faces gender bias and discrimination. It is a double discrimination. The advertisement selected for the study gives out a strong message on gender bias and therefore must be accessible to everyone including PWDs in the society. Accessibility of PSA in the digital format can be done with the help of Universal Design (UD) in digital media application. Features of UD inclusive in nature, and it focus on eliminating established barriers through initial designs. It considers the needs of diverse people, whether they are persons with or without disability. In this research two aspects of UD in digital media: captioning and Indian sign language (ISL) is used. Hence a short survey study was under taken to know the effects of a multimedia on gender bias, in accessible format on persons with and without disability. The result demonstrated a significant difference in the opinion, on the usage accessible and non-accessible format for persons with and without disability and their understanding of message in the PSA selected for the study.

Keywords: public service advertisements, gender, disability, accessibility

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Authors: Amrita Mishra, Tushar Kanti Das

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Agriculture is the backbone of the economy of Odisha. Sustainability of agriculture holds the key for the development of Odisha. The Sustainable Development Goals are a framework of 17 goals and 169 targets across social, economical and environmental areas of sustainable development. Among all the seventeen goals the second goal is focusing on the promotion of Sustainable Agriculture. In this research our main aim is also to contribute an understanding of effectiveness of sustainable agriculture as a tool for rural development in the selected tribal district (i.e. Koraput and Malkangiri) of Odisha. These two districts are comes under KBK districts of Odisha which are identified as most backward districts of Odisha. The objectives of our study are to investigate the effect of sustainable agriculture on the lives of tribal farmers, to study whether the farmers are empowered by their participation in sustainable agriculture initiatives to move towards their own vision of development and to study the investment and profit ratio in sustainable agriculture. This research will help in filling the major gaps in sociological studies of sustainable agriculture. This information will helpful for farmers, development organisations, donors and policy makers in formulating the development of effective initiatives and policies to support the development of sustainable agriculture. In this study, we have taken 210 respondents and used various statistical techniques like chi-square test, one-way ANOVA and percentage analysis. This research shows that sustainable agriculture is an effective development strategy that benefits the tribal farmers to move towards their own vision of Good Fortune. The poor farmers who struggle to feed their families and maintain viable livelihoods on shrinking land for them sustainable agriculture are really benefited. The farmers are using homemade pesticides, manure and also getting the seeds from different development organisations and Government. So the investment in Sustainable Agriculture is very less. All farmers said their lives are now better than before. The creation of farmers groups for training and marketing for the produces was shown to be very important for empowerment.

Keywords: sustainable, agriculture, tribal farmers, development, empowerment

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Authors: Siriraks Khawchaimaha, Sangwian Boonto

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Sport Authority of Thailand (SAT) is the state enterprise, promotes and supports all sports kind both professional and athletes for competitions, and administer under government policy and government officers and therefore, all financial supports whether cash inflows and cash outflows are strictly committed to government budget and limited to the planned projects at least 12 to 16 months ahead of reality, as results of ineffective in sport events, administration and competitions. In order to retain in the sports challenges around the world, SAT need to has its own sports business services model by each stadium, region and athletes’ competencies. Based on the HMK model of Khawchaimaha, S. (2007), this research study is formalized into each 10 regional stadiums to details into the characteristics root of fans, athletes, coaches, equipments and facilities, and stadiums. The research designed is firstly the evaluation of external factors: hardware whereby competition or practice of stadiums, playground, facilities, and equipments. Secondly, to understand the software of the organization structure, staffs and management, administrative model, rules and practices. In addition, budget allocation and budget administration with operating plan and expenditure plan. As results for the third step, issues and limitations which require action plan for further development and support, or to cease that unskilled sports kind. The final step, based on the HMK model and modeling canvas by Alexander O and Yves P (2010) are those of template generating Sports Business Services Model for each 10 SAT’s regional stadiums.

Keywords: HMK model, not for profit organization, sport business model, sport services model

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Authors: Shazali Abdulahi

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Project planning is the first phase in project life cycle which relates to the use of schedules such as Gantt charts to plan and subsequently report the project progress within the project environment. Likewise, project execution is the third phase in project lifecycle, is the phase where the work of the project must get done correctly and it’s the longest phase in the project lifecycle therefore, they must be effectively communicated, now today Communication has become the crucial element of every organization. During construction project delivery, information needs to be accurately and timely communicating among project stakeholders in order to realize the project objective. Effective communication among stakeholders during construction project delivery is one of the major factors that impact construction project delivery. Therefore, the aim of the research work is to examine the critical factors influencing effective communication among stakeholders on construction project delivery from the perspective of construction professionals (Architects, Builders, Quantity surveyors, and Civil engineers). A quantitative approach was adopted. This entailed the used of structured questionnaire to one (108) construction professionals in public and private organization within dutse metropolis. Frequency, mean, ranking and multiple linear regression using SPSS vision 25 software were used to analyses the data. The results show that Leadership, Trust, Communication tools, Communication skills, Stakeholders involvement, Cultural differences, and Communication technology were the most critical factors influencing effective communication among stakeholders on construction project delivery. The hypothesis revealed that, effective communication among stakeholders has significant effects on construction project delivery. This research work will profit the construction stakeholders in construction industry, by providing adequate knowledge regarding the factors influencing effective communication among stakeholders, so that necessary steps to be taken to improve project performance. Also, it will provide knowledge about the appropriate strategies to employ in order to improve communication among stakeholders.

Keywords: effetive communication, ineffective communication, stakeholders, project delivery

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Authors: Wedad Albalawi

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The mathematical inequalities have been the core of mathematical study and used in almost all branches of mathematics as well in various areas of science and engineering. The inequalities by Hardy, Littlewood and Polya were the first significant composition of several science. This work presents fundamental ideas, results and techniques, and it has had much influence on research in various branches of analysis. Since 1934, various inequalities have been produced and studied in the literature. Furthermore, some inequalities have been formulated by some operators; in 1989, weighted Hardy inequalities have been obtained for integration operators. Then, they obtained weighted estimates for Steklov operators that were used in the solution of the Cauchy problem for the wave equation. They were improved upon in 2011 to include the boundedness of integral operators from the weighted Sobolev space to the weighted Lebesgue space. Some inequalities have been demonstrated and improved using the Hardy–Steklov operator. Recently, a lot of integral inequalities have been improved by differential operators. Hardy inequality has been one of the tools that is used to consider integrity solutions of differential equations. Then, dynamic inequalities of Hardy and Coposon have been extended and improved by various integral operators. These inequalities would be interesting to apply in different fields of mathematics (functional spaces, partial differential equations, mathematical modeling). Some inequalities have been appeared involving Copson and Hardy inequalities on time scales to obtain new special version of them. A time scale is an arbitrary nonempty closed subset of the real numbers. Then, the dynamic inequalities on time scales have received a lot of attention in the literature and has become a major field in pure and applied mathematics. There are many applications of dynamic equations on time scales to quantum mechanics, electrical engineering, neural networks, heat transfer, combinatorics, and population dynamics. This study focuses on Hardy and Coposon inequalities, using Steklov operator on time scale in double integrals to obtain special cases of time-scale inequalities of Hardy and Copson on high dimensions. The advantage of this study is that it uses the one-dimensional classical Hardy inequality to obtain higher dimensional on time scale versions that will be applied in the solution of the Cauchy problem for the wave equation. In addition, the obtained inequalities have various applications involving discontinuous domains such as bug populations, phytoremediation of metals, wound healing, maximization problems. The proof can be done by introducing restriction on the operator in several cases. The concepts in time scale version such as time scales calculus will be used that allows to unify and extend many problems from the theories of differential and of difference equations. In addition, using chain rule, and some properties of multiple integrals on time scales, some theorems of Fubini and the inequality of H¨older.

Keywords: time scales, inequality of hardy, inequality of coposon, steklov operator

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Authors: Mahdi Bastan, Ali Mohammad Ahmadvand, Fatemeh Soltani Khamsehpour

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Health organizations’ sustainable development has nowadays become highly affected by customers’ satisfaction due to significant changes made in the business environment of the healthcare system and emerging of Competitiveness paradigm. In case we look at the hospitals and other health organizations as service providers concerning profit issues, the satisfaction of employees as interior customers, and patients as exterior customers would be of significant importance in health business success. Furthermore, satisfaction rate could be considered in performance assessment of healthcare organizations as a perceived quality measure. Several researches have been carried out in identification of effective factors on patients’ satisfaction in health organizations. However, considering a systemic view, the complex causal relations among many components of healthcare system would be an issue that its acquisition and sustainability requires an understanding of the dynamic complexity, an appropriate cognition of different components, and effective relationships among them resulting ultimately in identifying the generative structure of patients’ satisfaction. Hence, the presenting paper applies system dynamics approaches coherently and methodologically to represent the systemic structure of customers’ satisfaction of a health system involving the constituent components and interactions among them. Then, the results of different policies taken on the system are simulated via developing mathematical models, identifying leverage points, and using scenario making technique and then, the best solutions are presented to improve customers’ satisfaction of the services. The presenting approach supports taking advantage of decision support systems. Additionally, relying on understanding of system behavior Dynamics, the effective policies for improving the health system would be recognized.

Keywords: customer satisfaction, healthcare, scenario, simulation, system dynamics

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Authors: Rizgar Abdullah Sabir Jaf, Bayan Sedeeq Azeez Hussin, Dler Moosa Ahmed Karim

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Presently, economic and technological developments are growing faster in an unparalleled way. The result of that is innovative changing a great deal of a great deal of assumption, concepts, transactions, and high of competition between companies all over the world. The title of the thesis is one of the subjects that get large concerns in the financial and business world in the present time. That is because many competitive firms have appeared in the regional and global markets and the rapid changes that covered all fields of life. The subjects of the dissertation have a special importance in making the firm's businesses succeed in general and the industrial firms especially. Thus, the basic purpose of this study is to determine whether target costing is used in the costing application process in their customer expectation, profit margin, cost and price determination, cost reduction and management operations. In today’s intensely competitive and highly volatile business environment, consistent development of low cost and high quality products meeting the functional requirements is a key to a company's survival. Companies continuously strive to reduce the costs while still producing quality products to stay ahead in the competition. Many companies have turned to target costing to achieve this objective. The results indicate that there is a significant positive relationship (at the significance level less than 0.05) between the factors competitive advantage and management accounting techniques in the firm's sample study.

Keywords: strategic information, target cost, competitive advantage, Iraqi soft drink firms

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Authors: Cristian Pauna

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Trading the financial markets is a widespread activity today. A large number of investors, companies, public of private funds are buying and selling every day in order to make profit. Algorithmic trading is the prevalent method to make the trade decisions after the electronic trading release. The orders are sent almost instantly by computers using mathematical models. This paper will present a price prediction methodology based on a multi-dimensional neural network. Using the Fisher transform, the neural network will be instructed for a low-latency auto-adaptive process in order to predict the price evolution for the next period of time. The model is designed especially for algorithmic trading and uses the real-time price series. It was found that the characteristics of the Fisher function applied at the nodes scale level can generate reliable trading signals using the neural network methodology. After real time tests it was found that this method can be applied in any timeframe to trade the financial markets. The paper will also include the steps to implement the presented methodology into an automated trading system. Real trading results will be displayed and analyzed in order to qualify the model. As conclusion, the compared results will reveal that the neural network methodology applied together with the Fisher transform at the nodes level can generate a good price prediction and can build reliable trading signals for algorithmic trading.

Keywords: algorithmic trading, automated trading systems, financial markets, high-frequency trading, neural network

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Authors: Lokendra Kumar Devangan, Ajay Mishra

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This paper describes the implementation of a large-scale SAS/OR model with significant pre-processing, scenario analysis, and post-processing work done using SAS. A large cement manufacturer with ten geographically distributed manufacturing plants for two variants of cement, around 400 warehouses serving as transshipment points, and several thousand distributor locations generating demand needed to optimize this multi-echelon, multi-modal transport supply chain separately for planning and allocation purposes. For monthly planning as well as daily allocation, the demand is deterministic. Rail and road networks connect any two points in this supply chain, creating tens of thousands of such connections. Constraints include the plant’s production capacity, transportation capacity, and rail wagon batch size constraints. Each demand point has a minimum and maximum for shipments received. Price varies at demand locations due to local factors. A large mixed integer programming model built using proc OPTMODEL decides production at plants, demand fulfilled at each location, and the shipment route to demand locations to maximize the profit contribution. Using base SAS, we did significant pre-processing of data and created inputs for the optimization. Using outputs generated by OPTMODEL and other processing completed using base SAS, we generated several reports that went into their enterprise system and created tables for easy consumption of the optimization results by operations.

Keywords: production planning, mixed integer optimization, network model, network optimization

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Authors: Ghadeer A.Al-Jabaree, Husam Aldeen Al-Khadash, M. Nassar

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This study aimed at investigating the effect of well-designed corporate governance system on the financial stability of insurance companies listed in ASE. Further, this study provides a comprehensive model for evaluating and analyzing insurance companies' financial position and prospective for comparing the degree of corporate governance application provisions among Jordanian insurance companies. In order to achieve the goals of the study, a whole population that consist of (27) listed insurance companies was introduced through the variables of (board of director, audit committee, internal and external auditor, board and management ownership and block holder's identities). Statistical methods were used with alternative techniques by (SPSS); where descriptive statistical techniques such as means, standard deviations were used to describe the variables, while (F) test and ANOVA analysis of variance were used to test the hypotheses of the study. The study revealed the existence of significant effect of corporate governance variables except local companies that are not listed in ASE on financial stability within control variables especially debt ratio (leverage),where it's also showed that concentration in motor third party doesn't have significant effect on insurance companies' financial stability during study period. Moreover, the study concludes that Global financial crisis affect the investment side of insurance companies with insignificant effect on the technical side. Finally, some recommendations were presented such as enhancing the laws and regulation that help the appropriate application of corporate governance, and work on activating the transparency in the disclosures of the financial statements and focusing on supporting the technical provisions for the companies, rather than focusing only on profit side.

Keywords: corporate governance, financial stability and solvency margin, insurance companies, Jordan

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Authors: Emanuel Teixeira, Anderson Ramos, Marisa Lourenço, Fernando J. Velez, Jon M. Peha

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This article discusses the benefit cost analysis aspects of millimetre wavebands (mmWaves) and Super High Frequency (SHF). The devaluation along the distance of the carrier-to-noise-plus-interference ratio with the coverage distance is assessed by considering two different path loss models, the two-slope urban micro Line-of-Sight (UMiLoS) for the SHF band and the modified Friis propagation model, for frequencies above 24 GHz. The equivalent supported throughput is estimated at the 5.62, 28, 38, 60 and 73 GHz frequency bands and the influence of carrier-to-noise-plus-interference ratio in the radio and network optimization process is explored. Mostly owing to the lessening caused by the behaviour of the two-slope propagation model for SHF band, the supported throughput at this band is higher than at the millimetre wavebands only for the longest cell lengths. The benefit cost analysis of these pico-cellular networks was analysed for regular cellular topologies, by considering the unlicensed spectrum. For shortest distances, we can distinguish an optimal of the revenue in percentage terms for values of the cell length, R ≈ 10 m for the millimeter wavebands and for longest distances an optimal of the revenue can be observed at R ≈ 550 m for the 5.62 GHz. It is possible to observe that, for the 5.62 GHz band, the profit is slightly inferior than for millimetre wavebands, for the shortest Rs, and starts to increase for cell lengths approximately equal to the ratio between the break-point distance and the co-channel reuse factor, achieving a maximum for values of R approximately equal to 550 m.

Keywords: millimetre wavebands, SHF band, SINR, cost benefit analysis, 5G

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Authors: G. Martino, F. Silva, E. Marchal

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The control over delivered iron ore blend characteristics is one of the most important aspects of the mining business. The iron ore price is a function of its composition, which is the outcome of the beneficiation process. So, end-to-end integrated planning of mine operations can reduce risks of penalties on the iron ore price. In a standard iron mining company, the production chain is composed of mining, ore beneficiation, and client supply. When mine planning and client supply decisions are made uncoordinated, the beneficiation plant struggles to deliver the best blend possible. Technological improvements in several fields allowed bridging the gap between departments and boosting integrated decision-making processes. Clusterization and classification algorithms over historical production data generate reasonable previsions for quality and volume of iron ore produced for each pile of run-of-mine (ROM) processed. Mathematical modeling can use those deterministic relations to propose iron ore blends that better-fit specifications within a delivery schedule. Additionally, a model capable of representing the whole production chain can clearly compare the overall impact of different decisions in the process. This study shows how flexibilization combined with a planning optimization model between the mine and the ore beneficiation processes can reduce risks of out of specification deliveries. The model capabilities are illustrated on a hypothetical iron ore mine with magnetic separation process. Finally, this study shows ways of cost reduction or profit increase by optimizing process indicators across the production chain and integrating the different plannings with the sales decisions.

Keywords: clusterization and classification algorithms, integrated planning, mathematical modeling, optimization, penalty minimization

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Authors: Bushra Jamil, Nudrat Baqri, Muhammad Hassan Saeed

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Entrepreneurship is creating or setting up a business not only for the purpose of generating profit but also for providing job opportunities. Entrepreneurs are problem solvers and product developers. They use their financial asset for hiring a professional team and combine the innovation, knowledge, and leadership leads to a successful startup or a business. To be a successful entrepreneur, one should be people-oriented and have perseverance. One must have the ability to take risk, believe in his/her potential, and have the courage to move forward in all circumstances. Most importantly, have the ability to take risk and can assess the risk. For STEM students, entrepreneurship is of specific importance and relevance as it helps them not just to be able to solve real life existing complications but to be able to recognize and identify emerging needs and glitches. It is becoming increasingly apparent that in today’s world, there is a need as well as a desire for STEM and entrepreneurship to work together. In Pakistan, entrepreneurship is slowly emerging, yet we are far behind. It is high time that we should introduce modern teaching methods and inculcate entrepreneurial initiative in students. A course on entrepreneurship can be included in the syllabus, and we must invite businessmen and policy makers to motivate young minds for entrepreneurship. This must be pitching competitions, opportunities to win seed funding, and facilities of incubation centers. In Pakistan, there are many good public sector research institutes, yet there is a void gap in the private sector. Only few research institute are meant for research and development. BJ Micro Lab is one of them. It is SECP registered company and is working in academia to promote and facilitate research in STEM. BJ Micro Lab is a women led initiative, and we are trying to promote research as a passion, not as an arduous burden. For this, we are continuously arranging training workshops and sessions. More than 100 students have been trained in ten different workshops arranged at BJ Micro Lab.

Keywords: entrepreneurship, STEM, challenges, oppurtunties

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Authors: Nnadi Ezekiel Ejiofor

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The construction industry plays a decisive role in the healthy development of any nation. Not only large but even small construction projects contribute to a country’s economic growth. There is a need for good management to ensure successful delivery and sustainability because of the plethora of risks that have resulted in low-profit margins for contractors, cost and schedule overruns, poor quality delivery, and abandoned projects. This research reviewed Capitalization on Sustainable Risk Management. Questionnaires and oral interviews conducted were utilized as means of data collection. One hundred and ninety-eight (198) large construction firms in Nigeria form the population of this study. 15 (fifteen) companies that emanated from merger and acquisition were used for the study. The instruments used for data collection were a researcher-developed structured questionnaire based on a five-point rating scale, interviews, focus group discussion, and secondary sources (bill of quantities and stock and exchange commission). The instrument was validated by two experts in the field. The reliability of the instrument was established by applying the split-half method. Kendall’s coefficient of concordance was used to test the data, and a degree of agreement was obtained. Data were subjected to descriptive statistics and analyzed using analysis of variance, t-test, and SPSS. The identified impacts of capitalization were an increase in turnover (24.5%), improvement in the image (24.5%), risk reduction (20%), business expansion (17.3%), and geographical spread (13.6%). The study strongly advocates the inclusion of risk management evaluation as part of the construction procurement process.

Keywords: capitalization, project delivery, risks, risk management, sustainability

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Authors: Jiří F. Urbánek, David Král

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Small and Middle Enterprises (SME) have a specific mission, characteristics, and behavior in global business competitive environments. They must respect policy, rules, requirements and standards in all their inherent and outer processes of supply - customer chains and networks. Paper aims and purposes are to introduce computational assistance, which enables us the using of prevailing operation system MS Office (SmartArt...) for mathematical models, using DYVELOP (Dynamic Vector Logistics of Processes) method. It is providing for SMS´s global environment the capability and profit to achieve its commitment regarding the effectiveness of the quality management system in customer requirements meeting and also the continual improvement of the organization’s and SME´s processes overall performance and efficiency, as well as its societal security via continual planning improvement. DYVELOP model´s maps - the Blazons are able mathematically - graphically express the relationships among entities, actors, and processes, including the discovering and modeling of the cycling cases and their phases. The blazons need live PowerPoint presentation for better comprehension of this paper mission – added value analysis. The crisis management of SMEs is obliged to use the cycles for successful coping of crisis situations.  Several times cycling of these cases is a necessary condition for the encompassment of the both the emergency event and the mitigation of organization´s damages. Uninterrupted and continuous cycling process is a good indicator and controlling actor of SME continuity and its sustainable development advanced possibilities.

Keywords: blazons, computational assistance, DYVELOP method, small and middle enterprises

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Authors: Asghar Zamani, Mostafa Falahmorad

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Virtualization is established to combine and use the unique capabilities of employees to increase productivity and agility to provide services regardless of location. Adapting to fast and continuous change and getting maximum access to human resources are reasons why virtualization is happening. The distance problem is solved by information. Flexibility is the most important feature of virtualization, and information will be the main focus of virtualized companies. In this research, we used the Covid-19 opportunity window to assess the productivity of the companies that had been going through more virtualized management before the Covid-19 in comparison with those that just started planning on developing infrastructures on virtual management after the crises of pandemic occurred. The research process includes financial (profitability and customer satisfaction) and behavioral (organizational culture and reluctance to change) metrics assessment. In addition to financial and CRM KPIs, a questionnaire is devised to assess how manager and employees’ attitude has been changing towards the migration to virtualization. The sample companies and questions are selected by asking from experts in the IT industry of Iran. In this article, the conclusion is that companies open to virtualization based on accurate strategic planning or willing to pay to train their employees for virtualization before the pandemic are more agile in adapting to change and moving forward in recession. The prospective companies in this research, not only could compensate for the short period loss from the first shock of the Covid-19, but they could also foresee new needs of their customer sooner than other competitors, resulting in the need to employ new staff for executing the emerging demands. Findings were aligned with the literature review. Results can be a wake-up call for business owners especially in developing countries to be more resilient toward modern management styles instead of continuing with traditional ones.

Keywords: virtual management, virtual organization, competitive advantage, KPI, profit

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Authors: Svitlana Yermak, Olubukola Aluko

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The purpose of this study was a literature review on the topic of social entrepreneurship, a review of new trends and best practices, the study of existing inclusive business models and their interaction with the principles of the circular economy for possible implementation in the practice of Ukraine in war and post-war times in conditions of scarce resources. Thus, three research questions were identified and substantiated: to determine the characteristics of social entrepreneurship, consider the features in Ukraine and the UK; highlight the criteria for inclusion in social entrepreneurship and its legal support; explore examples of existing inclusive circular business models to illustrate how the two concepts may be combined. A detailed review of the literature selected from the Scopus and Web of Science databases was carried out. The study revealed signs of social entrepreneurship, the main of which are doing business and making a profit, as well as the social orientation of the business, which is prescribed in the constituent documents of the enterprise immediately upon its creation. Considered are the characteristics of social entrepreneurship in the UK and Ukraine. It has been established that in the UK, social entrepreneurship is clearly regulated by the state; there are special legislative norms and support programs, in contrast to Ukraine, where these processes are only partially regulated. The study identified the main criteria for inclusion in inclusive circular business models: economic (sustainability and efficiency, job creation and economic growth, promotion of local development), social (accessibility, equity and fairness, inclusion and participation), and resources in their interconnection. It is substantiated that the resource criterion is especially important for this type of business model. It provides for the efficient and sustainable use of resources, as well as the cyclical nature of resources. And it was concluded that the principles of the circular economy not only do not contradict but, on the contrary, complement and expand the inclusive business models on which social entrepreneurship is based.

Keywords: social entrepreneurship, inclusive business models, circular economy, inclusion criteria

Procedia PDF Downloads 101

Authors: Yingyi Luo

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Cross-border commercial surrogacy, where Australians travel overseas to access reproduction through a surrogate mother, is an increasing phenomenon. This paper focuses on the role of Australian surrogacy facilitators, including lawyers, non-for-profit agents, fertility counselors, who act as intermediaries managing cross-border surrogacy arrangements in Australia. It explores the extent to which surrogacy facilitators are concerned with the human rights of children born through cross-border surrogacy, surrogate mothers in developing countries, and intended parents. Commercial surrogacy is a matter that is often cast in the language of human rights. This paper will contribute to an in-depth understanding of the dynamics between intended parents, surrogates, and surrogacy facilitators by adopting a human rights framework to inform data analysis regarding the role of facilitators. The purpose of this research is to inform debate and discussion on law reform related to surrogacy. This paper presented here centers on interviews with surrogacy facilitators in Australia and non-participant observations in Australia to generate thick, empirical data about the fertility industry. The data showed that the process of facilitating surrogacy arrangements had prompted facilitators to form a view on human rights as they applied to their works. Although facilitators claimed that the right of intended parents, surrogate mothers, and children were all taken into consideration, the researcher observed that the commercial surrogacy contracts described by these facilitators favored the interests of intended parents with the baby acting as their unique selling point. The interests and needs of surrogate mothers were not prioritized in the views or actions of facilitators. The result was a commercial transaction that entailed the purchase, through cross-border surrogacy, of a child, as a commodity, by relatively affluent intended parents from disadvantaged surrogate mothers through unfair contracts.

Keywords: cross-border surrogacy, facilitators, human rights, surrogacy

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Authors: Ali H. Daraji, Ye Jianqiao

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The micro electrical devices of the wireless sensor network are continuously developed and become very small and compact with low electric power requirements using limited period life conventional batteries. The low power requirement for these devices, cost of conventional batteries and its replacement have encouraged researcher to find alternative power supply represented by energy harvesting system to provide an electric power supply with infinite period life. In the last few years, the investigation of energy harvesting for structure health monitoring has increased to powering wireless sensor network by converting waste mechanical vibration into electricity using piezoelectric sensors. Optimisation of energy harvesting is an important research topic to ensure a flowing of efficient electric power from structural vibration. The harvesting power is mainly based on the properties of piezoelectric material, dimensions of piezoelectric sensor, its position on a structure and value of an external electric load connected between sensor electrodes. Larger surface area of sensor is not granted larger power harvesting when the sensor area is covered positive and negative mechanical strain at the same time. Thus lead to reduction or cancellation of piezoelectric output power. Optimisation of energy harvesting is achieved by locating these sensors precisely and efficiently on the structure. Limited published work has investigated the energy harvesting for aircraft wing. However, most of the published studies have simplified the aircraft wing structure by a cantilever flat plate or beam. In these studies, the optimisation of energy harvesting was investigated by determination optimal value of an external electric load connected between sensor electrode terminals or by an external electric circuit or by randomly splitting piezoelectric sensor to two segments. However, the aircraft wing structures are complex than beam or flat plate and mostly constructed from flat and curved skins stiffened by stringers and ribs with more complex mechanical strain induced on the wing surfaces. This aircraft wing structure bonded with discrete macro fibre composite sensors was modelled using multiphysics finite element to optimise the energy harvesting by determination of the optimal number of sensors, location and the output resistance load. The optimal number and location of macro fibre sensors were determined based on the maximization of the open and close loop sensor output voltage using frequency response analysis. It was found different optimal distribution, locations and number of sensors bounded on the top and the bottom surfaces of the aircraft wing.

Keywords: energy harvesting, optimisation, sensor, wing

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Authors: Ibrahim Sadek Sedik Ibrahim, Mohamed M. Elgohary

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Sea ports are considered one of the factors affecting the progress of economic globalization and the international trade; consequently, they are considered one of the sources involved in the deterioration of the maritime environment due to the excessive amount of exhaust gases emitted from their activities. The majority of sea ports depend on the national electric grid as a source of power for the domestic and ships’ electric demands. This paper discusses the possibility of shifting ports from relying on the national grid electricity to green power-based ports. Offshore wind turbines and hydrogenic PEM fuel cell units appear as two typical promising clean energy sources for ports. As a case study, the paper investigates the prospect of converting Alexandria Port in Egypt to be an eco-friendly port with the study of technical, logistic, and financial requirements. The results show that the fuel cell, followed by a combined system of wind turbines and fuel cells, is the best choice regarding electricity production unit cost by 0.101 and 0.107 $/kWh, respectively. Furthermore, using of fuel cells and offshore wind turbine as green power concept will achieving emissions reduction quantity of CO₂, NOx, and CO emissions by 80,441, 20.814, and 133.025 ton per year, respectively. Finally, the paper highlights the role that renewable energy can play when supplying Alexandria Port with green energy to lift the burden on the government in supporting the electricity, with a possibility of achieving a profit of 3.85% to 22.31% of the annual electricity cost compared with the international prices.

Keywords: fuel cells, green ports, IMO, national electric grid, offshore wind turbines, port emissions, renewable energy

Procedia PDF Downloads 141

Authors: O. Nthoi-Molefe, V. Makwinja

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In the North West district of Botswana, Heritage tourism has the potential to offer tremendous economic and social opportunities for local communities in terms of supporting Tourism product development and entrepreneurship. This paper Identifies that Cultural Heritage Entrepreneur brings to the market goods and services, organizes and runs cultural heritage in a commercial or non-profit manner depending on characteristics of cultural resources identified. Data was collected through a series of focus group discussions that included sixteen village community members within the region. Data collected was transcribed and then further analyzed thematically to bring forward results to be analysed. Using Tsodilo Hills World Heritage Site as a case study, the researchers acknowledged that Cultural Heritage Entrepreneurs in that area should use a creative approach in order toidentify suitable solutions for financing different tourism activities starting with sponsored events, grant funds, donations, including the benefits of financial opportunities brough be foreign visitors and domestic tourists alike. The researchers also identified a need for specialized training for the identified entrepreneurs in order to maintain quality services of tourism products and sites (interpretation), information for tourists, visitation services, diversification, and upgrading of the heritage experience. The research reveals that the identified Cultural Heritage Entrepreneurs prefer economic motivation, exploitation over the cultural value of their resources, further calling for recommendations of the research that emphasize on the need for detailed training on how to valorize their cultural resources for the growth of Tourism in the area.

Keywords: education, community development, entrepreneurship, cultural tourism

Procedia PDF Downloads 159

Authors: Fairuz A. Ulinnuha, Bimo K. Fuadi

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The world’s population continues to grow resulting in steady migration from rural to urban areas. Increased numbers of people and cities hand in hand with greater exploitation of world’s resource. Every year, more cities are feeling the devastating of this impact of this situation. During the 1970’s, some of eco-concept were applied to urban settings, one of them is Ecological Cities. A non-profit organization, Urban Ecology, was founded in California in 1975 to 'rebuild cities in balance with nature'. Efforts to synthesize ecological and urban planning approaches were slowed somewhat in the 1980s, but useful refinements were made. Consideration of social impact acknowledges that the ecological design is not just about ecology itself. It is also about questioning and redefining our understanding of the ecology. When ecologist did recognize the existence of cities, they were usually concerned with resource flows. One popular approach was to study the flow and transformation of energy through urban ecosystem. This research method is descriptive method, following LEED Certification which is the international standard of the sustainable building, is more widely applied. But there remains problem that the moral imperative of sustainability and by implication of sustainable design, tends to supplant the disciplinary contribution. Sustainable design is not always seen as design excellence or design innovation. This can provoke the skepticism and cause the tension those who promote disciplinary knowledge and those who push for sustainability. The challenges of rapid urbanization and limited of global resources has become more pressing. So, there is a need to find an alternative design approaches. The urban, as the site of complex relation (economy, political, social, cultural), need a complex problem solving that can solve current and future condition. The aim of this study is to discussed about conjoining of ecology such as public park and sustainable design.

Keywords: ecology, cities, urban, sustainability

Procedia PDF Downloads 139

Authors: Mamdouh Milad Adly Morkos

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Despite having the greatest rates of mortality and morbidity in the world, low- and middle-income (LMIC) nations trail high-income nations in terms of the number of clinical trials, the number of qualified researchers, and the amount of research information specific to their people. Health inequities and the use of precision medicine may be hampered by a lack of local genomic data, clinical pharmacology and pharmacometrics competence, and training opportunities. These issues can be solved by carrying out health care infrastructure development, which includes data gathering and well-designed clinical pharmacology training in LMICs. It will be advantageous if there is international cooperation focused at enhancing education and infrastructure and promoting locally motivated clinical trials and research. This paper outlines various instances where clinical pharmacology knowledge could be put to use, including pharmacogenomic opportunities that could lead to better clinical guideline recommendations. Examples of how clinical pharmacology training can be successfully implemented in LMICs are also provided, including clinical pharmacology and pharmacometrics training programmes in Africa and a Tanzanian researcher's personal experience while on a training sabbatical in the United States. These training initiatives will profit from advocacy for clinical pharmacologists' employment prospects and career development pathways, which are gradually becoming acknowledged and established in LMICs. The advancement of training and research infrastructure to increase clinical pharmacologists' knowledge in LMICs would be extremely beneficial because they have a significant role to play in global health

Keywords: electromagnetic solar system, nano-material, nano pharmacology, pharmacovigilance, quantum theoryclinical simulation, education, pharmacology, simulation, virtual learning low- and middle-income, clinical pharmacology, pharmacometrics, career development pathways

Procedia PDF Downloads 81