Search results for: auditors' industry specialization
4832 Identification and Classification of Entrepreneurial Opportunities in Blinds’ Tourism Industry in Khuzestan Province of Iran
Authors: Ali Kharazi, Hassanali Aghajani, Hesami Azizi
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Tourism entrepreneurship is a growing field that has the potential to create new opportunities for sustainable development. The purpose of this study is to identify and classify the entrepreneurial opportunities in the blind tourism industry in Khuzestan Province of Iran that can be created through the operation of blinds’ tours. This study used a mixed methods approach. The qualitative data was collected through semi-structured interviews with 15 tourist guides and tourism activists, while the quantitative data was collected through a questionnaire survey of 40 blind people who had participated in blinds’ tours. The findings of this study suggest that there are a number of entrepreneurial opportunities in the blind tourism industry in Khuzestan Province, including (1) developing and providing accessible tourism services, such as tours, accommodations, restaurants, and transportation, (2) creating and marketing blind-friendly tourism products and experiences (3) training and educating tourism professionals on how to provide accessible and inclusive tourism services. This study contributes to the theoretical understanding of tourism entrepreneurship by providing insights into the entrepreneurial opportunities in the blind tourism industry. The findings of this study can be used to develop policies and programs that support the development of the blind tourism industry. The qualitative data were analyzed using content analysis. The quantitative data were analyzed using descriptive statistics and inferential statistics. This study examines the entrepreneurial opportunities within the blind tourism industry in Khuzestan Province, Iran. In addition, Khuzestan province has made relatively good development in the field of blinds’ tourism. Blind tourists have become loyal customers of blinds’ tours, which has increased their self-confidence and social participation. Tourist guides and centers of tourism services are interested in participating in blinds’ tours more than before, and even other parts outside the tourism field have encouraged sponsorship. Education had a great impact on the quality of tourism services, especially for the blind. It has played a significant role in improving the quality of tourism services for the blind. However, the quality and quantity of infrastructure should be increased in different sectors of tourism services to foster future growth. These opportunities can be used to create new businesses and jobs and to promote sustainable development in the region.Keywords: entrepreneurship, tourism, blind, sustainable development, Khuzestan
Procedia PDF Downloads 634831 Evaluation and Analysis of the Regulations of Health and Safety in the Construction Industry: A Case of Study in Skikda, Algeria
Authors: Khorief Ouissem, Sassi Boudmagh Souad, Mahimoud Aissa
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The health and safety problem in the construction companies has been a major subject of research in Algeria for many years. The latest statistics of the Algerian National Social Security Fund (CNAS) shows that a third of accidents recorded at the national level are originated from construction activities. It is becoming increasingly essential and urgent to investigate and address its causes in order to find measures to overcome the deficiencies in this area. Thus, this paper takes in investigating this problem through a study conducted in the city of Skikda, Algeria. The study was carried out through questionnaire where twenty construction companies were taking into consideration. First, the study identifies the regulations and the laws related to the health and safety in the construction sector in Algeria. Then it goes on to assess and evaluate the implementation of the identified regulations in the companies selected. The result of the assessment indicates that the majority of the construction companies considered do not meet the health and safety standards and regulations. To extract the main causes of the failure of the system to control this industry, the observations and the evaluation were analyzed using the 5M or Ichikawa diagram method. This method is based on identifying the causes of the problem in terms of purpose, the list of potential causes for families. These families often correspond to 5M (Labor, Material, Methods, Middle, and Management). Finally, having identified the primary motives, the present authors propose a list of actions to move towards a more controlled and effective health and safety system for the construction industry.Keywords: health and safety, construction industry, performance measurement, Algeria
Procedia PDF Downloads 3324830 Exploring the Implementation of Building Information Modelling Level 2 in the UK Construction Industry: The Case of Small and Medium-Sized Enterprises
Authors: Khaled Abu Awwad, Abdussalam Shibani, Michel Ghostin
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In the last few years, building information modelling (BIM) has been acknowledged as a new technology capable of transforming the construction sector to a collaborated industry. The implementation of BIM in the United Kingdom (UK) construction sector has increased significantly in the last decade, particularly after the UK government mandated the use of BIM in all public projects by 2016. Despite this, there are many indicators that BIM implementation is the main concern for large companies, while small and medium-sized enterprises (SMEs) are lagging behind in adopting and implementing this new technology. This slow adoption of BIM leads to an uncompetitive disadvantage in public projects and possible private projects. On the other hand, there is limited research focusing on the implementation of BIM Level 2 within SMEs. Therefore, the aim of this study is to bridge this gap and provide a conceptual framework to aid SMEs in implementing BIM Level 2. This framework is a result of interpreting qualitative data obtained by conducting semi-structured interviews with BIM experts in the UK construction industry.Keywords: building information modelling, critical success factors, small and medium-sized enterprises, United Kingdom
Procedia PDF Downloads 1994829 The Need for Multi-Edge Strategies and Solutions
Authors: Hugh Taylor
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Industry analysts project that edge computing will be generating tens of billions in revenue in coming years. It’s not clear, however, if this will actually happen, and who, if anyone, will make it happen. Edge computing is seen as a critical success factor in industries ranging from telecom, enterprise IT and co-location. However, will any of these industries actually step up to make edge computing into a viable technology business? This paper looks at why the edge seems to be in a chasm, on the edge of realization, so to speak, but failing to coalesce into a coherent technology category like the cloud—and how the segment’s divergent industry players can come together to build a viable business at the edge.Keywords: edge computing, multi-edge strategies, edge data centers, edge cloud
Procedia PDF Downloads 1014828 Biosorption of Lead (II) from Lead Acid Battery Industry Wastewater by Immobilized Dead Isolated Bacterial Biomass
Authors: Harikrishna Yadav Nanganuru, Narasimhulu Korrapati
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Over the past many years, many sites in the world have been contaminated with heavy metals, which are the largest class of contaminants. Lead is one of the toxic heavy metals contaminated in the environment. Lead is not biodegradable, that’s why it is accumulated in the human body and impacts all the systems of the human body when it has been taken by humans. The accumulation of lead in the water environment has been showing adverse effects on the public health. So the removal of lead from the water environment by the biosorption process, which is emerged as a potential method for the lead removal, is an efficient approach. This work was focused to examine the removal of Lead [Pb (II)] ions from aqueous solution and effluent from battery industry. Lead contamination in water is a widespread problem throughout the world and mainly results from lead acid battery manufacturing effluent. In this work, isolated bacteria from wastewater of lead acid battery industry has been utilized for the removal of lead. First effluent from the lead acid battery industry was characterized by the inductively coupled plasma atomic emission spectrometry (ICP – AES). Then the bacteria was isolated from the effluent and used it’s immobilized dead mass for the biosorption of lead. Scanning electron microscopic (SEM) and Atomic force microscopy (AFM) studies clearly suggested that the Lead (Pb) was adsorbed efficiently. The adsorbed percentage of lead (II) from waste was 97.40 the concentration of lead (II) is measured by Atomic Absorption Spectroscopy (AAS). From the result of AAS it can be concluded that immobilized isolated dead mass was well efficient and useful for biosorption of lead contaminated waste water.Keywords: biosorption, ICP-AES, lead (Pb), SEM
Procedia PDF Downloads 3744827 Readiness of Intellectual Capital Measurement: A Review of the Property Development and Investment Industry
Authors: Edward C. W. Chan, Benny C. F. Cheung
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In the knowledge economy, the financial indicator is not the unique instrument to gauge the performance of a company. The role of intellectual capital contributing to the company performance is increasing. To measure the company performance due to intellectual capital, the value-added intellectual capital (VAIC) model is adopted to measure the intellectual capital utilisation efficiency of the subject companies. The purpose of this study is to review the readiness of measuring intellectual capital for the Hong Kong listed companies in the property development and property investment industry by using VAIC model. This study covers the financial reports from the representative Hong Kong listed property development companies and property investment companies in the period 2014-2019. The findings from this study indicated the industry is ready for IC measurement employing VAIC framework but not yet ready for using the extended VAIC model.Keywords: intellectual capital, intellectual capital measurement, property development, property investment, Skandia navigator, VAIC
Procedia PDF Downloads 1064826 Indentifying Critical Factors Influencing Timeshare Purchases in India
Authors: Shivam Kushwaha, Veena Bansal
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Timeshare refers to real estate that is owned simultaneously by many, for a specified time in a year, for a specified numbers of years and is maintained and managed by an agency. Timeshare falls under the umbrella of tourism and is often used for vacation. Timeshare industry has attracted significantly less number of customers in India as compared to the US and Europe. In more than 40 years of existence of timeshare industry, it has not been able to grow its roots among Indian customers. The purpose of the study: To explore perception of Indian customers towards the adoption of timeshare segment of the hospitality industry and identify the factors. Source of data: Survey has been done on existing owners of holidays memberships, resorts or those who at least tourism experience in their past purchases. Methodology: Logistic Regression is used to predict binary responses of the customers based on identified critical factors which might influence timeshare purchases. Result: The study identified four factors: discretionary income, exchange options, ownership pride, risk, and measured their influence on intention to purchases in India. It is recognized that is all four variables are statistically significant while explaining in purchase intentions of customers in India.Keywords: timeshare, holiday, tourism, customer perception, intent to use, Indian tourism
Procedia PDF Downloads 2934825 The Impact of Political Events on National Archaeological Heritage and Tourism Industry: Study Case of Egypt after January 25th, 2011
Authors: Sabry A. El Azazy
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Tourism plays an essential role in supporting the National Economy. Egypt was ranked as one of the most attractive touristic destinations worldwide. Tourism as a service sector affects political events and unstable conditions. Within the revolution of January 25th, 2011, tourism became below standards, and the archeological heritage sites were subject to threat. Because of the political tension and social instability, Egypt's tourism sector has drastically dropped. Currently, Egypt is working on overcoming the crisis caused by political unrest. However, it is expected to take a long time to get back to where it was, especially in terms of regaining the confidence of travelers in the country's ability to guarantee and maintain security and stability. Recently, many great projects have been done, such as; New Administrative Cairo Capital, New Suez Canal logistic project, New City of Al Alamin, New Grand Egyptian Museum, as well as other great projects that reflect positively on the tourism industry and archaeological heritage development in Egypt.Keywords: archaeology, archaeological heritage, attractions, national economy, political events, touristic destinations, tourism industry
Procedia PDF Downloads 1584824 Islamic Banks and the Most Important Contemporary Challenges
Authors: Mahmood Mohammed Abdulsattar Aljumaili
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Praise be to Allah and peace and blessings be upon the Messenger of Allah. Islamic banks have not only made a lot of great achievements in a short period, but they imposed themselves in the global market, not to mention the transformation of some conventional interest-based banks to Islamic banks to the large demand on them, this transformation has pushed the Dow Jones Global Foundation to develop a new economic indicator released it (the Dow Jones Islamic market) for those who wish to invest in Islamic financial institutions. The success of Islamic financial institutions today face significant and serious challenges, that embody the serious consequences created by the current events on Islamic banking industry. This modest study, deals with these serious challenges facing the Islamic banking industry, and reflected on the success recorded in the previous period. The study deals with four main topics: The emergence of Islamic banks, the goals of Islamic banks, International challenges facing Islamic banks, internal challenges facing Islamic banks, and finally it touches on, (Basel 1-2) Agreement and its implications for Islamic banks.Keywords: Islamic banks, Basel 1-2 agreement, most important contemporary challenges, islamic banking industry, Dow Jones Islamic market
Procedia PDF Downloads 4934823 Cognitive eTransformation Framework for Education Sector
Authors: A. Hol
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21st century brought waves of business and industry eTransformations. The impact of change is also being seen in education. To identify the extent of this, scenario analysis methodology was utilised with the aim to assess business transformations across industry sectors ranging from craftsmanship, medicine, finance and manufacture to innovations and adoptions of new technologies and business models. Firstly, scenarios were drafted based on the current eTransformation models and its dimensions. Following this, eTransformation framework was utilised with the aim to derive the key eTransformation parameters, the essential characteristics that have enabled eTransformations across the sectors. Following this, identified key parameters were mapped to the transforming domain-education. The mapping assisted in deriving a cognitive eTransformation framework for education sector. The framework highlights the importance of context and the notion that education today needs not only to deliver content to students but it also needs to be able to meet the dynamically changing demands of specific student and industry groups. Furthermore, it pinpoints that for such processes to be supported, specific technology is required, so that instant, on demand and periodic feedback as well as flexible, dynamically expanding study content can be sought and received via multiple education mediums.Keywords: education sector, business transformation, eTransformation model, cognitive model, cognitive systems, eTransformation
Procedia PDF Downloads 1324822 Female Entrepreneurship in the Creative Industry: The Antecedents of Their Ventures' Performance
Authors: Naoum Mylonas, Eugenia Petridou
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Objectives: The objectives of this research are firstly, to develop an integrated model of predicting factors to new ventures performance, taking into account certain issues and specificities related to creative industry and female entrepreneurship based on the prior research; secondly, to determine the appropriate measures of venture performance in a creative industry context, drawing upon previous surveys; thirdly, to illustrate the importance of entrepreneurial orientation, networking ties, environment dynamism and access to financial capital on new ventures performance. Prior Work: An extant review of the creative industry literature highlights the special nature of entrepreneurship in this field. Entrepreneurs in creative industry share certain specific characteristics and intensions, such as to produce something aesthetic, to enrich their talents and their creativity, and to combine their entrepreneurial with their artistic orientation. Thus, assessing venture performance and success in creative industry entails an examination of how creative people or artists conceptualize success. Moreover, female entrepreneurs manifest more positive attitudes towards sectors primarily based on creativity, rather than innovation in which males outbalance. As creative industry entrepreneurship based mainly on the creative personality of the creator / artist, a high interest is accrued to examine female entrepreneurship in the creative industry. Hypotheses development: H1a: Female entrepreneurs who are more entrepreneurially-oriented show a higher financial performance. H1b: Female entrepreneurs who are more artistically-oriented show a higher creative performance. H2: Female entrepreneurs who have personality that is more creative perform better. H3: Female entrepreneurs who participate in or belong to networks perform better. H4: Female entrepreneurs who have been consulted by a mentor perform better. Η5a: Female entrepreneurs who are motivated more by pull-factors perform better. H5b: Female entrepreneurs who are motivated more by push-factors perform worse. Approach: A mixed method triangulation design has been adopted for the collection and analysis of data. The data are collected through a structured questionnaire for the quantitative part and through semi-structured interviews for the qualitative part as well. The sample is 293 Greek female entrepreneurs in the creative industry. Main findings: All research hypotheses are accepted. The majority of creative industry entrepreneurs evaluate themselves in creative performance terms rather than financial ones. The individuals who are closely related to traditional arts sectors have no EO but also evaluate themselves highly in terms of venture performance. Creative personality of creators is appeared as the most important predictor of venture performance. Pull factors in accordance with our hypothesis lead to higher levels of performance compared to push factors. Networking and mentoring are viewed as very important, particularly now during the turbulent economic environment in Greece. Implications-Value: Our research provides an integrated model with several moderating variables to predict ventures performance in the creative industry, taking also into account the complicated nature of arts and the way artists and creators define success. At the end, the findings may be used for the appropriate design of educational programs in creative industry entrepreneurship. This research has been co-financed by the European Union (European Social Fund – ESF) and Greek national funds through the Operational Program "Education and Lifelong Learning" of the National Strategic Reference Framework (NSRF) - Research Funding Program: Heracleitus II. Investing in knowledge society through the European Social Fund.Keywords: venture performance, female entrepreneurship, creative industry, networks
Procedia PDF Downloads 2574821 Post Covid-19 Landscape of Global Pharmaceutical Industry
Authors: Abu Zafor Sadek
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Pharmaceuticals were one of the least impacted business sectors during the corona pandemic as they are the center point of Covid-19 fight. Emergency use authorization, unproven indication of some commonly used drugs, self-medication, research and production capacity of an individual country, capacity of producing vaccine by many countries, Active Pharmaceutical Ingredients (APIs) related uncertainty, information gap among manufacturer, practitioners and user, export restriction, duration of lock-down, lack of harmony in transportation, disruption in the regulatory approval process, sudden increased demand of hospital items and protective equipment, panic buying, difficulties in in-person product promotion, e-prescription, geo-politics and associated issues added a new dimension to this industry. Although the industry maintains a reasonable growth throughout Covid-19 days; however, it has been characterized by both long- and short-term effects. Short-term effects have already been visible to so many countries, especially those who are import-dependent and have limited research capacity. On the other hand, it will take a few more time to see the long-term effects. Nevertheless, supply chain disruption, changes in strategic planning, new communication model, squeezing of job opportunity, rapid digitalization are the major short-term effects, whereas long-term effects include a shift towards self-sufficiency, growth pattern changes of certain products, special attention towards clinical studies, automation in operations, the increased arena of ethical issues etc. Therefore, this qualitative and exploratory study identifies the post-covid-19 landscape of the global pharmaceutical industry.Keywords: covid-19, pharmaceutical, businees, landscape
Procedia PDF Downloads 894820 Governance and Public Policy: The Perception of Efficiency and Equility in Brazil and South Africa
Authors: Paulino V. Tavares, Ana L. Romao
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Public governance represents an articulated arrangement, dynamic and interactive, present in the exercise of authority aimed at strengthening the decision-making procedure in public administration with transparency, accountability, responsiveness and capable of to emerge control and social empowerment, to pursue and achieve the objectives efficiently and with the effectiveness desired by the collective, respecting laws and providing social, institutional and economic equility in society. With this, using a multidimensional approach with the application of three questionnaires to a universe of twenty Counselors of the Courts of Auditors (Brazil), twenty professionals of public administration (Brazil), twenty Government/Provincial Counselors (South Africa), and twenty South African professionals of public administration, the present work aims to capture what is the perception about the efficiency and equility of public policies in Brazil and South Africa. With this, up until now, 30 responses have been obtained, and the results indicate that, in Brazil, 65% affirm due to the inefficiency of public policies, 70% point out that they do not believe in the equility of these same policies. In South Africa, the results indicate that 45% believe in government efficiency, and, with regard to the equility of public policies, 65% do not believe. In Brazil, the research reveals at least three reasons for this result, that is, lack of planning, lack of clear objectives of public policies, and lack of information on the part of society, while in South Africa, so far, research has not identified a specific reason for this result.Keywords: efficiency, equility, governance, public policy
Procedia PDF Downloads 1164819 Organisational Factors and Total Quality Management Practice in Nigeria Manufacturing Industry: Evidence from Honeywell Flour Mills Plc
Authors: Cornelius Femi Popoola
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Nigerian manufacturing industry, particularly the flour producing firms play vital roles in Nigerian economy. This sector’s quality management practice is given a little attention along with organizational factors that hinder successful practice of total quality management which needs to be documented. Honeywell Flour Mills Plc operate in Nigeria with an appreciable number of products that serves this sector of the economy. Internal-external disposition of the company and total quality practice of the company deserve some elucidations. Hence, this study examined the influence of organizational factors on total quality management practice of Nigerian manufacturing industry, using Honeywell Flour Mills Plc as a case study. The study employed the correlational type of descriptive survey research design. The population consisted of 656 staff of Honeywell Flour Mills Plc, out of which 235 members were selected through scientific sampling method developed by Paler-Calmorin and Calmorin. A total of 235 copies of questionnaires titled 'Organisational Factors and Total Quality Management Practices (QF-TQM) Questionnaire' were administered with a response rate of 66 copies returned. The following variables were applied internal organisational factors (IOFs), external organizational factors (EOFs) and total quality management (TQM). Data generated were analysed using frequency distribution and regression analysis at 0.05 level. The findings revealed that IOFs positively and significantly related with TQM (r = .147**, N= 64, P(.000) < .01). Also, EOFs negatively and significantly related with TQM (r = -.117, N= 64, P(.000) < .01). Findings showed that internal and external organizational factors jointly influenced TQM practiced in F₍₂,₆₁₎=22.250; R²=.629; Adj.R²=.603; P(.000) < .05). The study concluded that organizational factors are determinants of TQM practice in Nigerian manufacturing industry. It is recommended that both internal and external organizational factors influencing TQM practices should be considered in the development of TQM strategies.Keywords: external organizational factors, internal organisational factors, Nigerian manufacturing industry, total quality management
Procedia PDF Downloads 3014818 Importance of Hospitality In Tourism Industry
Authors: S M Abdus Sattar
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Introduction: The tourism industry is a vital component of economies, providing opportunities for economic growth and cultural exchange. At the heart of this industry lies the concept of hospitality. Tourism refers to the activity of traveling for leisure or business and hospitality refers to the welcoming, amenities and providing of services to guests in the travel and accommodation industries. Tourism is one of the fastest growing industries in the world today. Objectives: The most important objective of Tourism and Hospitality study are: To assess different aspects, To identify the reasons, To analyze the contribution in GDP of Bangladesh, To identify importances of hospitality, To identify challenges, To Development of leadership characteristics, communication, teamwork skill, customer service and problem-solving, To provide welcoming treatment to guests, offering accommodation, food, transportation and entertainment services to ensure guests feel safe and comfortable away from home, To explore future prospects in Bangladesh and To suggests some recommendations for development of these sector. Methodology: Statistical method has been adopted in this study. Common characteristics of the people of particular area are found out. Tourism data is collected through various methods, such as surveys, interviews, visitor registration, travel agency records, hotel bookings, transport ticketing systems, online platforms, social media, Bangladesh Tourism Corporation, World Travel and Tourism Council, Quantitative and qualitative research methods are used while collecting and analyzing data. Findings: Tourism and Hospitality focuses on marketing, management, attractions, recreation events, travel related services, lodging, operations of restaurants and food services. Tourism offers great opportunities for emerging economies and developing countries. It creates jobs, strengthens the local economy, contributes to local infrastructure development, can help to conserve the natural environment, cultural assets, traditions, reduce poverty and inequality. The hospitality industry contributes to the economy of a country by employing its human resources. It generates new employment, contributing to the Gross Domestic Product (GDP) of a country. Around 330 million people were employed in the Tourism and Hospitality sector in globally. Tourism and Hospitality industry is creating high tax revenues. Tourism is a rising industry in Bangladesh. Studying hospitality can also help develop a range of essential skills that are valuable in any industry. Conclusion: As the conclusion, tourism industry is focused on providing quality attractions and events in order to entice tourists to come. The hospitality industry provides the good service for client. Hospitality and Tourism are closely related. Hospitality built up the relationship between host and guest. The importance of hospitality in tourism industry is immense. The Tourism and Hospitality industry is an important contributor to Bangladesh's economy. It is necessary to develop the Tourism infrastructure, maintain tourist destinations, railway stations, airports, rest house, hotels and improve the quality of services.Keywords: tourism, hospitality, GDP, employment, economy
Procedia PDF Downloads 94817 Transformative Measures in Chemical and Petrochemical Industry Through Agile Principles and Industry 4.0 Technologies
Authors: Bahman Ghorashi
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The immense awareness of the global climate change has compelled traditional fossil fuel companies to develop strategies to reduce their carbon footprint and simultaneously consider the production of various sources of clean energy in order to mitigate the environmental impact of their operations. Similarly, supply chain issues, the scarcity of certain raw materials, energy costs as well as market needs, and changing consumer expectations have forced the traditional chemical industry to reexamine their time-honored modes of operation. This study examines how such transformative change might occur through the applications of agile principles as well as industry 4.0 technologies. Clearly, such a transformation is complex, costly, and requires a total commitment on the part of the top leadership and the entire management structure. Factors that need to be considered include organizational speed of change, a restructuring that would lend itself toward collaboration and the selling of solutions to customers’ problems, rather than just products, integrating ‘along’ as well as ‘across’ value chains, mastering change and uncertainty as well as a recognition of the importance of concept-to-cash time, i.e., the velocity of introducing new products to market, and the leveraging of people and information. At the same time, parallel to implementing such major shifts in the ethos, and the fabric of the organization, the change leaders should remain mindful of the companies’ DNA while incorporating the necessary DNA defying shifts. Furthermore, such strategic maneuvers should inevitably incorporate the managing of the upstream and downstream operations, harnessing future opportunities, preparing and training the workforce, implementing faster decision making and quick adaptation to change, managing accelerated response times, as well as forming autonomous and cross-functional teams. Moreover, the leaders should establish the balance between high-value solutions versus high-margin products, fully implement digitization of operations and, when appropriate, incorporate the latest relevant technologies, such as: AI, IIoT, ML, and immersive technologies. This study presents a summary of the agile principles and the relevant technologies and draws lessons from some of the best practices that are already implemented within the chemical industry in order to establish a roadmap to agility. Finally, the critical role of educational institutions in preparing the future workforce for Industry 4.0 is addressed.Keywords: agile principles, immersive technologies, industry 4.0, workforce preparation
Procedia PDF Downloads 1004816 The Impact of Artificial Intelligence on Digital Construction
Authors: Omil Nady Mahrous Maximous
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The construction industry is currently experiencing a shift towards digitisation. This transformation is driven by adopting technologies like Building Information Modelling (BIM), drones, and augmented reality (AR). These advancements are revolutionizing the process of designing, constructing, and operating projects. BIM, for instance, is a new way of communicating and exploiting technology such as software and machinery. It enables the creation of a replica or virtual model of buildings or infrastructure projects. It facilitates simulating construction procedures, identifying issues beforehand, and optimizing designs accordingly. Drones are another tool in this revolution, as they can be utilized for site surveys, inspections, and even deliveries. Moreover, AR technology provides real-time information to workers involved in the project. Implementing these technologies in the construction industry has brought about improvements in efficiency, safety measures, and sustainable practices. BIM helps minimize rework and waste materials, while drones contribute to safety by reducing workers' exposure to areas. Additionally, AR plays a role in worker safety by delivering instructions and guidance during operations. Although the digital transformation within the construction industry is still in its early stages, it holds the potential to reshape project delivery methods entirely. By embracing these technologies, construction companies can boost their profitability while simultaneously reducing their environmental impact and ensuring safer practices.Keywords: architectural education, construction industry, digital learning environments, immersive learning BIM, digital construction, construction technologies, digital transformation artificial intelligence, collaboration, digital architecture, digital design theory, material selection, space construction
Procedia PDF Downloads 454815 The Impact Evaluation of the Innovation Implementation within the EU Funds on the SMEs Performance Results
Authors: Beata Ślusarczyk, Sebastian Kot
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In subjective terms, Polish SME sector occupies a prominent position in the national economic development, in which planning of the management strategies should be primarily based on identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry. SMEs share in printing sector in Poland is estimated at the level of 81% of all enterprises. In recent years, the printing industry achieved one of the highest levels of EU support in Poland. There is a relatively high increase in the development of technological innovations in equipment and the associated significant increase in production capacity. It can be also noticed that on average, every third enterprise belonging to the printing industry has implemented innovations, but not all of them effected in better economic results. Therefore, the aim of this article is to evaluate the impact of the implementation of innovation projects financed from the EU funds for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the development of innovation in the printing industry, it was specified that examined SMEs prefer to implement product innovation to receive a grant to the project at a level between 40% to 60%, the remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single implementation, related only to the change in process, technology, or organization. The relationship between variables of the EU funds and management of innovative activities was verified. It has been observed that the identified variables arising from the support in a form of the EU funds had a positive effect on the level of earned revenue, the increase in margin and in increase in employment as well. It was confirmed that the implemented innovations supported by the European funds have a positive impact on the performance of the printing companies. Although there is a risk that due to the decreasing demand for printing services such a high level of funding the companies in this sector will significantly increase competition in the long term, that may also contribute to the economic problems of the enterprises belonging to the analyzed branch.Keywords: innovations, SMEs, performance, results
Procedia PDF Downloads 3084814 Minimization Entropic Applied to Rotary Dryers to Reduce the Energy Consumption
Authors: I. O. Nascimento, J. T. Manzi
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The drying process is an important operation in the chemical industry and it is widely used in the food, grain industry and fertilizer industry. However, for demanding a considerable consumption of energy, such a process requires a deep energetic analysis in order to reduce operating costs. This paper deals with thermodynamic optimization applied to rotary dryers based on the entropy production minimization, aiming at to reduce the energy consumption. To do this, the mass, energy and entropy balance was used for developing a relationship that represents the rate of entropy production. The use of the Second Law of Thermodynamics is essential because it takes into account constraints of nature. Since the entropy production rate is minimized, optimals conditions of operations can be established and the process can obtain a substantial gain in energy saving. The minimization strategy had been led using classical methods such as Lagrange multipliers and implemented in the MATLAB platform. As expected, the preliminary results reveal a significant energy saving by the application of the optimal parameters found by the procedure of the entropy minimization It is important to say that this method has shown easy implementation and low cost.Keywords: thermodynamic optimization, drying, entropy minimization, modeling dryers
Procedia PDF Downloads 2554813 Averting a Financial Crisis through Regulation, Including Legislation
Authors: Maria Krambia-Kapardis, Andreas Kapardis
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The paper discusses regulatory and legislative measures implemented by various nations in an effort to avert another financial crisis. More specifically, to address the financial crisis, the European Commission followed the practice of other developed countries and implemented a European Economic Recovery Plan in an attempt to overhaul the regulatory and supervisory framework of the financial sector. In 2010 the Commission introduced the European Systemic Risk Board and in 2011 the European System of Financial Supervision. Some experts advocated that the type and extent of financial regulation introduced in the European crisis in the wake of the 2008 crisis has been excessive and counterproductive. In considering how different countries responded to the financial crisis, global regulators have shown a more focused commitment to combat industry misconduct and to pre-empt abusive behavior. Regulators have also increased funding and resources at their disposal; have increased regulatory fines, with an increasing trend towards action against individuals; and, finally, have focused on market abuse and market conduct issues. Financial regulation can be effected, first of all, through legislation. However, neither ex ante or ex post regulation is by itself effective in reducing systemic risk. Consequently, to avert a financial crisis, in their endeavor to achieve both economic efficiency and financial stability, governments need to balance the two approaches to financial regulation. Fiduciary duty is another means by which the behavior of actors in the financial world is constrained and, thus, regulated. Furthermore, fiduciary duties extend over and above other existing requirements set out by statute and/or common law and cover allegations of breach of fiduciary duty, negligence or fraud. Careful analysis of the etiology of the 2008 financial crisis demonstrates the great importance of corporate governance as a way of regulating boardroom behavior. In addition, the regulation of professions including accountants and auditors plays a crucial role as far as the financial management of companies is concerned. In the US, the Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board in order to protect investors from financial accounting fraud. In most countries around the world, however, accounting regulation consists of a legal framework, international standards, education, and licensure. Accounting regulation is necessary because of the information asymmetry and the conflict of interest that exists between managers and users of financial information. If a holistic approach is to be taken then one cannot ignore the regulation of legislators themselves which can take the form of hard or soft legislation. The science of averting a financial crisis is yet to be perfected and this, as shown by the preceding discussion, is unlikely to be achieved in the foreseeable future as ‘disaster myopia’ may be reduced but will not be eliminated. It is easier, of course, to be wise in hindsight and regulating unreasonably risky decisions and unethical or outright criminal behavior in the financial world remains major challenges for governments, corporations, and professions alike.Keywords: financial crisis, legislation, regulation, financial regulation
Procedia PDF Downloads 3894812 Establishing a Sustainable Construction Industry: Review of Barriers That Inhibit Adoption of Lean Construction in Lesotho
Authors: Tsepiso Mofolo, Luna Bergh
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The Lesotho construction industry fails to embrace environmental practices, which has then lead to excessive consumption of resources, land degradation, air and water pollution, loss of habitats, and high energy usage. The industry is highly inefficient, and this undermines its capability to yield the optimum contribution to social, economic and environmental developments. Sustainable construction is, therefore, imperative to ensure the cultivation of benefits from all these intrinsic themes of sustainable development. The development of a sustainable construction industry requires a holistic approach that takes into consideration the interaction between Lean Construction principles, socio-economic and environmental policies, technological advancement and the principles of construction or project management. Sustainable construction is a cutting-edge phenomenon, forming a component of a subjectively defined concept called sustainable development. Sustainable development can be defined in terms of attitudes and judgments to assist in ensuring long-term environmental, social and economic growth in society. The key concept of sustainable construction is Lean Construction. Lean Construction emanates from the principles of the Toyota Production System (TPS), namely the application and adaptation of the fundamental concepts and principles that focus on waste reduction, the increase in value to the customer, and continuous improvement. The focus is on the reduction of socio-economic waste, and protestation of environmental degradation by reducing carbon dioxide emission footprint. Lean principles require a fundamental change in the behaviour and attitudes of the parties involved in order to overcome barriers to cooperation. Prevalent barriers to adoption of Lean Construction in Lesotho are mainly structural - such as unavailability of financing, corruption, operational inefficiency or wastage, lack of skills and training and inefficient construction legislation and political interferences. The consequential effects of these problems trigger down to quality, cost and time of the project - which then result in an escalation of operational costs due to the cost of rework or material wastage. Factor and correlation analysis of these barriers indicate that they are highly correlated, which then poses a detrimental potential to the country’s welfare, environment and construction safety. It is, therefore, critical for Lesotho’s construction industry to develop a robust governance through bureaucracy reforms and stringent law enforcement.Keywords: construction industry, sustainable development, sustainable construction industry, lean construction, barriers to sustainable construction
Procedia PDF Downloads 2824811 Breaking the Barrier of Service Hostility: A Lean Approach to Achieve Operational Excellence
Authors: Mofizul Islam Awwal
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Due to globalization, industries are rapidly growing throughout the world which leads to many manufacturing organizations. But recently, service industries are beginning to emerge in large numbers almost in all parts of the world including some developing countries. In this context, organizations need to have strong competitive advantage over their rivals to achieve their strategic business goals. Manufacturing industries are adopting many methods and techniques in order to achieve such competitive edge. Over the last decades, manufacturing industries have been successfully practicing lean concept to optimize their production lines. Due to its huge success in manufacturing context, lean has made its way into the service industry. Very little importance has been addressed to service in the area of operations management. Service industries are far behind than manufacturing industries in terms of operations improvement. It will be a hectic job to transfer the lean concept from production floor to service back/front office which will obviously yield possible improvement. Service processes are not as visible as production processes and can be very complex. Lack of research in this area made it quite difficult for service industries as there are no standardized frameworks for successfully implementing lean concept in service organization. The purpose of this research paper is to capture the present scenario of service industry in terms of lean implementation. Thorough analysis of past literature will be done on the applicability and understanding of lean in service structure. Classification of research papers will be done and critical factors will be unveiled for implementing lean in service industry to achieve operational excellence.Keywords: lean service, lean literature classification, lean implementation, service industry, service excellence
Procedia PDF Downloads 3694810 Relevance of Copyright and Trademark in the Gaming Industry
Authors: Deeksha Karunakar
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The gaming industry is one of the biggest industries in the world. Video games are interactive works of authorship that require the execution of a computer programme on specialized hardware but which also incorporate a wide variety of other artistic mediums, such as music, scripts, stories, video, paintings, and characters, into which the player takes an active role. Therefore, video games are not made as singular, simple works but rather as a collection of elements that, if they reach a certain level of originality and creativity, can each be copyrighted on their own. A video game is made up of a wide variety of parts, all of which combine to form the overall sensation that we, the players, have while playing. The entirety of the components is implemented in the form of software code, which is then translated into the game's user interface. Even while copyright protection is already in place for the coding of software, the work that is produced because of that coding can also be protected by copyright. This includes the game's storyline or narrative, its characters, and even elements of the code on their own. In each sector, there is a potential legal framework required, and the gaming industry also requires legal frameworks. This represents the importance of intellectual property laws in each sector. This paper will explore the beginnings of video games, the various aspects of game copyrights, and the approach of the courts, including examples of a few different instances. Although the creative arts have always been known to draw inspiration from and build upon the works of others, it has not always been simple to evaluate whether a game has been cloned. The video game business is experiencing growth as it has never seen before today. The majority of today's video games are both pieces of software and works of audio-visual art. Even though the existing legal framework does not have a clause specifically addressing video games, it is clear that there is a great many alternative means by which this protection can be granted. This paper will represent the importance of copyright and trademark laws in the gaming industry and its regulations with the help of relevant case laws via utilizing doctrinal methodology to support its findings. The aim of the paper is to make aware of the applicability of intellectual property laws in the gaming industry and how the justice system is evolving to adapt to such new industries. Furthermore, it will provide in-depth knowledge of their relationship with each other.Keywords: copyright, DMCA, gaming industry, trademark, WIPO
Procedia PDF Downloads 614809 Energy Audit: A Case Study of a Hot Rolling Mill in Steel Industry
Authors: Arvind Dhingra, Tejinder Singh Saggu
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As the energy demands rise and the pollution levels grow, it becomes imperative for us to save energy in all the fields in which it is used. The industrial sector is the major commercial energy consuming sector in India, where electrical energy is the most common and widely used type of energy. As the demand and price of energy are increasing day by day, therefore, the subject of energy conservation is a concern for most energy users particularly industry. Judicious use of energy becomes imperative for third world developing country being presence of energy crisis. This paper provides some measure for energy saving that can be commonly recommended for a rolling unit of steel industry. A case of hot rolling unit in JSL Stainless Ltd., Hisar for energy conservation is given. Overall improvement in energy consumption in light of the stated recommendation is illustrated along with the proposed utilization of the techniques and their applications. Energy conservation in conventional motor with replacement or use of star delta star converter, reduction in cable losses, replacement of filament of LED lamps, replacement of conventional transformer with cast resin dry type transformer and provision of energy management system for energy conservation and per unit production cost reduction are elaborated in this paper.Keywords: energy audit, energy conservation, energy efficient motors
Procedia PDF Downloads 5194808 Evaluating the Extent to Which Higher Education in Creativity Match with Demands of the Industry in Istanbul
Authors: Büşra Güven, Ebru Kerimoğlu
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Relevant departments of universities in creative fields are increasingly facing the challenge of developing curriculum for more employable creative workforce. In Turkey, as a developing country, the creative industries have not yet argued in the political axis and higher education also has not been addressed in this context. Istanbul has the highest creative and cultural industries share also provides both rooted and developing higher education institutes for these sectors in Turkey. With this in mind, the main purpose of the paper attempts to clarify that how does higher education in creative fields deal with the demands of creative industries in Istanbul? First, the paper elaborated creative class theory, second creative industries, employability and curriculum triangle is examined. The research methodology consisted of a qualitative model based on interview analysis. Data are collected by interviews with the head of the relevant departments and professional associations authorities in selected sectors. Four higher education institutes in Istanbul are selected according to the some clarified factors related to the literature. This also offered a comparing between public and private universities in terms of the adaptability of this changing concept of work. Industry expectations and content of educations were compared and found the blind spots in the education-industry relationships. As a consequence, produced inclusive policies for universities and industries to overcome these spots with collaboration, flexibility, adaptability, openness and feedback management and also for future policies in particular outcomes of university-industry collaborations.Keywords: creative industries, curriculum, employability, high education, Istanbul
Procedia PDF Downloads 2294807 Emerging Technologies in European Aeronautics: How Collaborative Innovation Efforts Are Shaping the Industry
Authors: Nikola Radovanovic, Petros Gkotsis, Mathieu Doussineau
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Aeronautics is regarded as a strategically important sector for European competitiveness. It was at the heart of European entrepreneurial development since the industry was born. Currently, the EU is the world leader in the production of civil aircraft, including helicopters, aircraft engines, parts, and components. It is recording a surplus in trade relating to aerospace products, which are exported all over the globe. Also, this industry shows above-average investments in research and development, as demonstrated in the patent activity in this area. The post-pandemic recovery of the industry will partly depend on the possibilities to streamline collaboration in further research and innovation activities. Aeronautics features as one of the often selected priority domains in smart specialisation, which represents the main regional and national approach in developing and implementing innovation policies in Europe. The basis for the selection of priority domains for smart specialisation lies in the mapping of innovative potential, with research and patent activities being among the key elements of this analysis. This research is aimed at identifying characteristics of the trends in research and patent activities in the regions and countries that base their competitiveness on the aeronautics sector. It is also aimed at determining the scope and patterns of collaborations in aeronautics between innovators from the European regions, focusing on revealing new technology areas that emerge from these collaborations. For this purpose, we developed a methodology based on desk research and the analysis of the PATSTAT patent database as well as the databases of R&I framework programmes.Keywords: aeronautics, smart specialisation, innovation, research, regional policy
Procedia PDF Downloads 974806 Data Analytics in Hospitality Industry
Authors: Tammy Wee, Detlev Remy, Arif Perdana
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In the recent years, data analytics has become the buzzword in the hospitality industry. The hospitality industry is another example of a data-rich industry that has yet fully benefited from the insights of data analytics. Effective use of data analytics can change how hotels operate, market and position themselves competitively in the hospitality industry. However, at the moment, the data obtained by individual hotels remain under-utilized. This research is a preliminary research on data analytics in the hospitality industry, using an in-depth face-to-face interview on one hotel as a start to a multi-level research. The main case study of this research, hotel A, is a chain brand of international hotel that has been systematically gathering and collecting data on its own customer for the past five years. The data collection points begin from the moment a guest book a room until the guest leave the hotel premises, which includes room reservation, spa booking, and catering. Although hotel A has been gathering data intelligence on its customer for some time, they have yet utilized the data to its fullest potential, and they are aware of their limitation as well as the potential of data analytics. Currently, the utilization of data analytics in hotel A is limited in the area of customer service improvement, namely to enhance the personalization of service for each individual customer. Hotel A is able to utilize the data to improve and enhance their service which in turn, encourage repeated customers. According to hotel A, 50% of their guests returned to their hotel, and 70% extended nights because of the personalized service. Apart from using the data analytics for enhancing customer service, hotel A also uses the data in marketing. Hotel A uses the data analytics to predict or forecast the change in consumer behavior and demand, by tracking their guest’s booking preference, payment preference and demand shift between properties. However, hotel A admitted that the data they have been collecting was not fully utilized due to two challenges. The first challenge of using data analytics in hotel A is the data is not clean. At the moment, the data collection of one guest profile is meaningful only for one department in the hotel but meaningless for another department. Cleaning up the data and getting standards correctly for usage by different departments are some of the main concerns of hotel A. The second challenge of using data analytics in hotel A is the non-integral internal system. At the moment, the internal system used by hotel A do not integrate with each other well, limiting the ability to collect data systematically. Hotel A is considering another system to replace the current one for more comprehensive data collection. Hotel proprietors recognized the potential of data analytics as reported in this research, however, the current challenges of implementing a system to collect data come with a cost. This research has identified the current utilization of data analytics and the challenges faced when it comes to implementing data analytics.Keywords: data analytics, hospitality industry, customer relationship management, hotel marketing
Procedia PDF Downloads 1714805 The Effect of Critical Audit Matters on Financial Information Quality: The Role of Audit Committee Expertise
Authors: Khawla Hlel
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Purpose: This study aims to examine whether critical audit matters (CAM) affect financial information quality. We also investigate the moderating role of the audit committee on the association between CAM and financial information quality. Design/Methodology/Approach: The analysis is based on GLS and GMM regressions explaining the absolute value of discretionary accruals by using 52 Tunisian listed firms on the Tunisia Stock Exchange (TSE) for the period 2017-2020. Findings: We find evidence that managers react to the CAM by increasing the quality of financial disclosures. This study provides insights into how a change in the auditor’s report model might impact the quality of financial information. It suggests that external auditors and audit committees serve as a beneficial mechanism for enhancing financial information quality by reducing information asymmetry. In addition, our results indicate that CAM is an efficient monitoring mechanism that increases financial reporting quality and supervises managers. Originality: This study is important for potential investors who should assess CAM when evaluating firms. Furthermore, the authors expect the findings to be interesting to firms, as this study highlights the effectiveness of the auditor in reducing managerial opportunistic behavior and improving information quality. The results could encourage audit regulators to ameliorate the standards, as this research reinforces the role of the auditor in increasing the quality of financial disclosure by offering the required information for shareholders.Keywords: critical audit matters, audit committee, information quality, Tunisian firms
Procedia PDF Downloads 824804 Systematic Mapping Study of Digitization and Analysis of Manufacturing Data
Authors: R. Clancy, M. Ahern, D. O’Sullivan, K. Bruton
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The manufacturing industry is currently undergoing a digital transformation as part of the mega-trend Industry 4.0. As part of this phase of the industrial revolution, traditional manufacturing processes are being combined with digital technologies to achieve smarter and more efficient production. To successfully digitally transform a manufacturing facility, the processes must first be digitized. This is the conversion of information from an analogue format to a digital format. The objective of this study was to explore the research area of digitizing manufacturing data as part of the worldwide paradigm, Industry 4.0. The formal methodology of a systematic mapping study was utilized to capture a representative sample of the research area and assess its current state. Specific research questions were defined to assess the key benefits and limitations associated with the digitization of manufacturing data. Research papers were classified according to the type of research and type of contribution to the research area. Upon analyzing 54 papers identified in this area, it was noted that 23 of the papers originated in Germany. This is an unsurprising finding as Industry 4.0 is originally a German strategy with supporting strong policy instruments being utilized in Germany to support its implementation. It was also found that the Fraunhofer Institute for Mechatronic Systems Design, in collaboration with the University of Paderborn in Germany, was the most frequent contributing Institution of the research papers with three papers published. The literature suggested future research directions and highlighted one specific gap in the area. There exists an unresolved gap between the data science experts and the manufacturing process experts in the industry. The data analytics expertise is not useful unless the manufacturing process information is utilized. A legitimate understanding of the data is crucial to perform accurate analytics and gain true, valuable insights into the manufacturing process. There lies a gap between the manufacturing operations and the information technology/data analytics departments within enterprises, which was borne out by the results of many of the case studies reviewed as part of this work. To test the concept of this gap existing, the researcher initiated an industrial case study in which they embedded themselves between the subject matter expert of the manufacturing process and the data scientist. Of the papers resulting from the systematic mapping study, 12 of the papers contributed a framework, another 12 of the papers were based on a case study, and 11 of the papers focused on theory. However, there were only three papers that contributed a methodology. This provides further evidence for the need for an industry-focused methodology for digitizing and analyzing manufacturing data, which will be developed in future research.Keywords: analytics, digitization, industry 4.0, manufacturing
Procedia PDF Downloads 1074803 Determinants and Impact on Income: Special Reference to Household Level Coir Yarn Labourers
Authors: G. H. B. Dilhari, A. A. D. T. Saparamadu
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The coir is one of the by-products of the coconut and the coir industry can be identified as one of the traditional industries in Sri Lanka. Sri Lanka is one of the prominent countries for the coir production. Due to the labour insensitiveness, the labourers are the significant factor in the coir production process. The study has analyzed the determinants and its impact on income of the household level coir yarn labourers. The study was conducted in the Kumarakanda Grama Niladhari division, Galle, Sri Lanka. Simple random sampling was used to generate the sample of 100 household level coir yarn labourers and structured questionnaire, personal interviews and discussion were performed to gather the required data. The obtained data were statistically analyzed by using Statistical Package for Social Science (SPSS) software. Mann-Whitney U and Kruskal-Wallis test were carried out. The findings revealed that the household level coir yarn industry is dominated by the female workers and fewer amounts of workers have engaged this industry as the main occupation. In addition to that, elderly participation of the industry is greater than younger participation and most of them engaged as an extra income source. Level of education, the methods of engagement, satisfaction, labour’s children employment in the coir industry, support from the government, method of government support, working hours per day, employed as a main job, no of completed units per day, suffering any job related diseases and type of the diseases were related with income level of household level coir yarn labourers. The recommendations were formulated in respect to these problems including technological transformation for coir yarn production, strengthening of the raw material base and regulating the raw material supply, introduction of new technologies, markets and training programs, the establishment of the labourers association, the initiation of micro credit schemes, better consideration about the job oriented diseases.Keywords: coir, coir yarn labourers, income, Galle
Procedia PDF Downloads 187