Search results for: value creation of firm

Authors: Tolulope A. Olukunle

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Plastic waste management has emerged as one of the greatest challenges facing developing countries. This paper describes the design of various components of a plastic shredder. This machine is widely used in industries and recycling plants. The introduction of plastic shredder machine will promote reduction of post-consumer plastic waste accumulation and serves as a system for wealth creation and empowerment through conversion of waste into economically viable products. In this design research, a 10 kW electric motor with a rotational speed of 500 rpm was chosen to drive the shredder. A pulley size of 400 mm is mounted on the electric motor at a distance of 1000 mm away from the shredder pulley. The shredder rotational speed is 300 rpm.

Keywords: design, machine, plastic waste, recycling

Procedia PDF Downloads 321

Authors: Alemu Moges Belay, Torgeir Welo, Jan Ola Strandhagen

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Lean has long been linked with manufacturing, but its application claimed also by other functions such as product development and services. However, there is a challenge on understanding and defining lean in each function context. This paper aims to investigate the literature that focus mainly on PD process improvement, obtain better understanding and redefine LPD in systematic way. In addition to that, the paper attempts to summarize various proposed transformation strategies, definitions, identifying features of manufacturing and product development that would help to redefining lean in product development context. Finally we redefine LPD in organized way that encompasses different steps such as stage gate, communication and information, events, learning, innovation, knowledge and value creation.

Keywords: lean, lean manufacturing, lean product development, transformation, strategies

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Authors: Gonzalez Carlos, Martinez Fransisco

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There are various types of analysis that allow us to involve seismic phenomena that cause strong requirements for structures that are designed by society; one of them is a probabilistic analysis which works from prediction equations that have been created based on metadata seismic compiled in different regions. These equations form models that are used to describe the 5% damped pseudo spectra response for the various zones considering some easily known input parameters. The biggest problem for the creation of these models requires data with great robust statistics that support the results, and there are several places where this type of information is not available, for which the use of alternative methodologies helps to achieve adjustments to different models of seismic prediction.

Keywords: GMPM, 5% damped pseudo-response spectra, models of seismic prediction, PSHA

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Authors: Beata Wentura-Dudek

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In the United States in 2007-2010 before the crisis, the US labour market policy focused mainly on providing residents with unemployment insurance, after the recession this policy changed. The aim of the article was to present quantitative research presenting the most effective labor market instruments contributing to reducing unemployment during the crisis in the USA. The article presents research based on the analysis of available documents and statistical data. The results of the conducted research show that the most effective forms of counteracting unemployment at that time were: direct job creation, job search assistance, subsidized employment, training and employment promotion using new technologies, including social media.

Keywords: lotteries, loyalty programs, competitions, bonus sales, rebate campaigns

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Authors: Jesús Ulloa

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The creation, rise, and consolidation of far right-wing, ultranationalist, and eurosceptic parties in Europe after the Second World War pose a real threat towards the disintegration of the European Union. Starting more than thirty years ago with Jean-Marie Le Pen's FN and Margaret Thatcher's policies, to Marine Le Pen's current FN and anti-immigration proposals along with Nigel Farage's UKIP and their intentions to leave the European Union, the progress of right-wing parties should be noted, taking into account that they may have very important differences within their postures but that they also reach common ground in certain areas. The actual disintegration of the EU would represent an enormous failure of the new liberal world order. Through this essay, the roots of this political parties will be analyzed and the conclusion of whether the disintegration may become a reality or if the principles of cooperation and unity will prevail will be answered.

Keywords: eurosceptic, ultarnationalist, right-wing, European Union

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Authors: Muhammad Waseem Akram

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The current study attempts to analyze the impact of business constraints on the growth potential and performance of Small and Medium Enterprises (SMEs) in the electrical industry of Pakistan. Primary data have been utilized for the study collected from the electrical industry cluster in Sargodha, Pakistan. OLS regression is used to assess the impact of business constraints on the performance of SMEs by controlling the effect of Technology Level, Innovations, and Firm Size. To associate business constraints with the growth potential of SMEs, the study utilized Tetrachoric Correlation and Logistic Regression. Findings reveal that all the business constraints negatively affect the performance of SMEs in the electrical industry except Political Instability. Results of Tetrachoric Correlation show that all the business constraints are negatively correlated with the growth potential of SMEs. Logistic Regression results show that Energy Constraint, Inflation and Price Instability, and Bad Business Practices, all three business constraints cause to reduce the probability of income growth in sample SMEs.

Keywords: SMEs, business constraints, performance, growth potential

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Authors: Eunsup Daniel Shim, Jooh Lee

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The US financial crisis of 2008 and subsequent Global Financial Crisis were considered by many economists the worst financial crisis since the Great Depression of the 1930s. As a results, Dodd-Frank Act has passed and aims '(1) to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", (2) to protect the American taxpayer by ending bailouts, (3) to protect consumers from abusive financial services practices, and for other purposes.' The enactment of Dodd-Frank Act, in part, intended to significantly influence accountability on executive compensation especially for the financial institutions. This paper empirically investigates the changes in Financial CEOs’ compensation since the Financial Crisis of 2008. Our findings show that in the post- Financial Crisis period financial leverage is significant factor influencing the CEOs’ total compensation. In addition market based performance such as stock price and market-to-book ratio shows significant positive relationship with CEO compensation. This change can be interpreted an attempt to reduce opportunistic behavior of top executives after the financial crisis and the enactment of the Dodd-Frank Act.

Keywords: financial CEO compensation, firm performance, financial crisis of 2008, dodd-frank act

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Authors: S. Forughi, A. De Zoysa, S. Bhati

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The present study focuses on the environmental performance of the companies in the electricity-producing sector and its relationship with their financial performance. We will review the major studies that examined the relationship between the environmental and financial performance of firms in various industries. While the classical economic debates consider the environmental friendly activities costly and harmful to a firm’s profitability, it is claimed that firms will be rewarded with higher profitability in long run through the investments in environmental friendly activities. In this context, prior studies have examined the relationship between the environmental and financial performance of firms operating in different industry sectors. Our study will employ an environmental indicator to increase the accuracy of the results and be employed as an independent variable in our developed econometric model to evaluate the impact of the financial performance of the firms on their environmental friendly activities in the context of companies operating in the Australian electricity-producing sector. As a result, we expect our methodology to contribute to the literature and the findings of the study will help us to provide recommendations and policy implications to the electricity producers.

Keywords: Australian electricity sector, efficiency measurement, environmental-financial performance interaction, environmental index

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Authors: Alexander Gretchenko, Liudmila Goncharenko, Sergey Sybachin

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This article summarizes the history of the discovery of N.D. Kondratiev of large cycles of economic conditions, as well as the creation and justification of the theory of innovation-cyclical economic development of Kondratiev-Schumpeter. An analysis of it in modern conditions is providing. The main conclusion in this article is that in general terms today it can be argued that the Kondratiev-Schumpeter theory is sufficiently substantiated. Further, the possibility of making a forecast of the development of the economic situation in the direction of applying this theory in practice, which demonstrate its effectiveness, is considered.

Keywords: Kondratiev's big cycles of economic conjuncture, Schumpeter's theory of innovative economic development, long-term cyclical forecasting, dating of Kondratiev cycles

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Authors: Mballa Abanda Luc Aurelien Serge, Henda Gnakate Biba, Kuate Guemo Romaric, Akono Rufine Nicole, Zabotom Yaya Fadel Biba, Petfiang Sidonie, Bella Suzane Jenifer

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The main hypotheses proposed around the definition of the syllable and of music, of the common origin of music and language, should lead the reader to reflect on the cross-cutting questions raised by the debate on the notion of universals in linguistics and musicology. These are objects of controversy, and there lies its interest: the debate raises questions that are at the heart of theories on language. It is an inventive, original, and innovative research thesis. A contribution to the theoretical, musicological, ethno musicological, and linguistic conceptualization of languages, giving rise to the practice of interlocution between the social and cognitive sciences, the activities of artistic creation, and the question of modeling in the human sciences: mathematics, computer science, translation automation, and artificial intelligence. When you apply this theory to any text of a folksong of a world-tone language, you do not only piece together the exact melody, rhythm, and harmonies of that song as if you knew it in advance but also the exact speaking of this language. The author believes that the issue of the disappearance of tonal languages and their preservation has been structurally resolved, as well as one of the greatest cultural equations related to the composition and creation of tonal, polytonal, and random music. The experimentation confirming the theorization, I designed a semi-digital, semi-analog application that translates the tonal languages of Africa (about 2,100 languages) into blues, jazz, world music, polyphonic music, tonal and anatonal music, and deterministic and random music). To test this application, I use music reading and writing software that allows me to collect the data extracted from my mother tongue, which is already modeled in the musical staves saved in the ethnographic (semiotic) dictionary for automatic translation ( volume 2 of the book). The translation is done (from writing to writing, from writing to speech, and from writing to music). Mode of operation: you type a text on your computer, a structured song (chorus-verse), and you command the machine a melody of blues, jazz, and world music or variety, etc. The software runs, giving you the option to choose harmonies, and then you select your melody.

Keywords: language, music, sciences, quantum entenglement

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Authors: Manjinder Singh, Anish Sachdeva

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Research on total quality management (TQM), total productive maintenance (TPM), international organization for standardization (ISO) and six sigma generally investigate the implementation and impact of these programs in isolation. However, none of these quality improvement programs is self-sufficient and they may not be powerful enough to deliver the improvements and innovations that are required nowadays to ensure the survival and growth of a firm. They are not mutually exclusive and inconsistent. On the contrary, they need complementary support and may reinforce mutually to make use of their complementarity, inducement of side-effects in favor of other quality improvement program, mutual simulation and exploitation of shared values. In this paper, first of all, the various management activities were identified which are normally under focus when any quality improvement program is implemented in any organization. Then TOPSIS methodology was applied to establish the ranking of various quality improvement programs (total quality management, total productive maintenance, ISO and six sigma which were brought to the corporate boardroom to improve the quality) with respect to different management activities (operations related activities, quality related activities, maintenance related activities, organizational related activities, human related activities and finance related activities).

Keywords: total productive maintenance (TPM), total quality management (TQM), TOPSIS, international organization for standardization (ISO)

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Authors: Adebola Adedugbe

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Agriculture is the mainstay of most countries in Africa. It employs up to 90 percent of the rural workforce, who are mostly youth and women. Engaging youths in Information and Communications Technology (ICT) in agriculture is critical to economic and agricultural development of the African continent. The objective of this paper is to identify and mobilize the potentials of young Africans in agriculture through ICT and recognize their role as the dominant driver for sustainable agricultural development in Africa. This paper identifies the role of ICT as a tool for attracting youths to agriculture. The development of ICT is important in stimulating youths in SME’s to compete favorably and effectively as a way to fight poverty through job and wealth creation. It is one of the strategies for promoting entrepreneurship by increasing the availability and diversity of online information.

Keywords: Africa, agriculture, ICT, tool, youth

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Authors: Andrea Schnabl, Mario Bernhart

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The controlling instrument of an internal cost allocation (IT chargeback) is commonly used to make IT costs transparent and controllable. Information Technology (IT) became, especially for information industries, a central competitive factor. Consequently, the focus is not on minimizing IT costs but on the strategic aligned application of IT. Hence, an internal IT cost allocation should be designed to enhance the business-IT alignment (strategic alignment of IT) in order to support the effective application of IT from a company’s point of view. To identify design criteria for an internal cost allocation to support business alignment a case study analysis at a typical medium-sized firm in information industry is performed. Documents, Key Performance Indicators, and cost accounting data over a period of 10 years are analyzed and interviews are performed. The derived design criteria are evaluated by 6 heads of IT departments from 6 different companies, which have an internal IT cost allocation at use. By applying these design criteria an internal cost allocation serves not only for cost controlling but also as an instrument in strategic IT management.

Keywords: accounting for IT services, Business IT Alignment, internal cost allocation, IT controlling, IT governance, strategic IT management

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Authors: Mirza Ahsan Baig, Paul Evans

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Due to the high demand for automobiles, manufacturers have to run their production lines non-stop for long periods. At such a scale, unplanned downtime could cost up to $50 billion annually. Improper training of new hires could lead to safety issues causing unplanned downtimes. The project developed a virtual reality simulation that could train personnel for key operations on an automobile manufacturing floor, reducing the risk of unplanned downtime while eliminating any disruption (due to training) on the assembly line. An automation firm sponsored it to explore the possibilities the likes of Jaguar and BMW are yet to achieve! The project was inspired by Bentley, the only company that succeeded in simulation training scenarios within virtual space. The project aims to inspire other significant firms to do the same. It was increasing employee safety, eliminating downtimes, and improving efficiency. The developed prototype uncovered various limitations within existing simulation providers and was able to simulate state-of-the-art training scenarios. It also explored the possibility of a multiuser interface and resolved complex issues such as lack of movement space within the training area.

Keywords: virtual reality, scenario training, limited movement, multiuser

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Authors: Carole A. El Raheb, Hassan K. Abdel-Salam, Ingi Elcherif

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An architect carrying the design process alone is the main reason for the deterioration of the quality of the architectural product as the complexity of the projects makes it a multi-disciplinary work; then, the Integrative Design Process (IDP) must be applied in the architectural firm especially from the early design phases to improve the product’s quality and to eliminate the ignorance of the principles of design causing the occurrence of low-grade buildings. The research explores the Integrative Design (ID) principles that fit in the architectural practice. Constraints facing this application are presented with strategies and solutions to overcome them. A survey questionnaire was conducted to collect data from a number of recognized Egyptian Architecture, Engineering and Construction (AEC) firms that explores their opinions on using the IDP. This survey emphasizes the importance of the IDP in firms and presents the reasons preventing the firms from applying the IDP. The aim here is to investigate the potentials of integrating this approach into architectural firms emphasizing the importance of this application which ensures the realization of the project’s goal and eliminates the reduction in the project’s quality.

Keywords: application, architectural firms, integrative design principles, integrative design process, the project quality

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Authors: Ivana Scidà, Francesco Alotto, Anna Osello

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Due to the importance given today to innovation, the education sector is evolving thanks digital technologies. Virtual Reality (VR) can be a potential teaching tool offering many advantages in the field of training and education, as it allows to acquire theoretical knowledge and practical skills using an immersive experience in less time than the traditional educational process. These assumptions allow to lay the foundations for a new educational environment, involving and stimulating for students. Starting from the objective of strengthening the innovative teaching offer and the learning processes, the case study of the research concerns the digitalization of MastrLAB, High Quality Laboratory (HQL) belonging to the Department of Structural, Building and Geotechnical Engineering (DISEG) of the Polytechnic of Turin, a center specialized in experimental mechanical tests on traditional and innovative building materials and on the structures made with them. The MastrLAB-VR has been developed, a revolutionary innovative training tool designed with the aim of educating the class in total safety on the techniques of use of machinery, thus reducing the dangers arising from the performance of potentially dangerous activities. The virtual laboratory, dedicated to the students of the Building and Civil Engineering Courses of the Polytechnic of Turin, has been projected to simulate in an absolutely realistic way the experimental approach to the structural tests foreseen in their courses of study: from the tensile tests to the relaxation tests, from the steel qualification tests to the resilience tests on elements at environmental conditions or at characterizing temperatures. The research work proposes a methodology for the virtualization of technical laboratories through the application of Building Information Modelling (BIM), starting from the creation of a digital model. The process includes the creation of an independent application, which with Oculus Rift technology will allow the user to explore the environment and interact with objects through the use of joypads. The application has been tested in prototype way on volunteers, obtaining results related to the acquisition of the educational notions exposed in the experience through a virtual quiz with multiple answers, achieving an overall evaluation report. The results have shown that MastrLAB-VR is suitable for both beginners and experts and will be adopted experimentally for other laboratories of the University departments.

Keywords: building information modelling, digital learning, education, virtual laboratory, virtual reality

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Authors: Xuemei Jiang, Kunfu Zhu, Shouyang Wang

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In this paper, we selected China as a case and employ a time-series of unique input-output tables distinguishing firm ownership and processing exports, to evaluate the role of foreign-invested enterprises (FIEs) in China’s rapid carbon dioxide emission growth. The results suggested that FIEs contributed to 11.55% of the economic outputs’ growth in China between 1992-2010, but accounted for only 9.65% of the growth of carbon dioxide emissions. In relative term, until 2010 FIEs still emitted much less than Chinese-owned enterprises (COEs) when producing the same amount of outputs, although COEs experienced much faster technology upgrades. In an ideal scenario where we assume the final demands remain unchanged and COEs completely mirror the advanced technologies of FIEs, more than 2000 Mt of carbon dioxide emissions would be reduced for China in 2010. From a policy perspective, the widespread FIEs are very effective and efficient channel to encourage technology transfer from developed to developing countries.

Keywords: carbon dioxide emissions, foreign-invested enterprises, technology transfer, input–output analysis, China

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Authors: Abbas Al-Refaie, Nour Bata

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A distributor of Apple products' experiences numerous difficulties in developing marketing strategies for new and existing mobile product entries that maximize customer satisfaction and the firm's profitability. This research, therefore, integrates market segmentation in platform-based product family design and conjoint analysis to identify iSystem combinations that increase customer satisfaction and business profits. First, the enhanced market segmentation grid is created. Then, the estimated demand model is formulated. Finally, the profit models are constructed then used to determine the ideal product family design that maximizes profit. Conjoint analysis is used to explore customer preferences with their satisfaction levels. A total of 200 surveys are collected about customer preferences. Then, simulation is used to determine the importance values for each attribute. Finally, sensitivity analysis is conducted to determine the product family design that maximizes both objectives. In conclusion, the results of this research shall provide great support to Apple distributors in determining the best marketing strategies that enhance their market share.

Keywords: market segmentation, conjoint analysis, market strategies, optimization

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Authors: J. Otegui, M. Agirre, M. A. Cestau, H. Erauskin

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The increasing accessibility of mid-priced additive manufacturing (AM) systems offers a chance to incorporate this technology into engineering instruction. Furthermore, AM facilitates the creation of manufacturing designs, enhancing the efficiency of various machines. One example of these machines is the Stirling cycle engine. It encompasses complex thermodynamic machinery, revealing various aspects of mechanical engineering expertise upon closer inspection. In this publication, the application of Stirling Engines fabricated via additive manufacturing techniques will be showcased for the purpose of instructive design and product enhancement. The performance of a Stirling engine's conventional displacer and piston is contrasted. The outcomes of utilizing this instructional tool in teaching are demonstrated.

Keywords: 3D printing, additive manufacturing, mechanical design, stirling engine.

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Authors: Rushiraj Heshi, Smriti Bhandari

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Master Data Management requires creation of Central repository, applying constraints on Repository and designing processes to manage data. Designing of Repository, constraints on repository and business processes is very tedious and time consuming task for large Enterprise. Hence Visual Repository, constraints and Process (Workflow) modeling is the most critical step in Master Data Management.In this paper, we realize a Visual Modeling tool for implementing Repositories, Constraints and Processes based on Eclipse Plugin using GMF/EMF which follows principles of Model Driven Engineering (MDE).

Keywords: EMF, GMF, GEF, repository, constraint, process

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Authors: Aayush Bhisikar, Neha Rajas, Aditya Bhingare, Samarth Bhandare, Amruta Amrurkar

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Orange peels are currently thrown away as garbage in India after orange fruits' edible components are consumed. However, the nation depends on important essential oils for usage in companies that produce goods, including food, beverages, cosmetics, and medicines. This study was conducted to show how to effectively use it. By using various extraction techniques, orange peel is used in the creation of essential oils. Stream distillation, water distillation, and solvent extraction were the techniques taken into consideration in this paper. Due to its relative prevalence among the extraction techniques, Design Expert 7.0 was used to plan an experimental run for solvent extraction. Oil was examined to ascertain its physical and chemical characteristics after extraction. It was determined from the outcomes that the orange peels.

Keywords: orange peels, extraction, essential oil, distillation

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Authors: Neha Rajas, Aayush Bhisikar, Samarth Bhandare, Aditya Bhingare, Amruta Amrutkar

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Orange peels are currently thrown away as garbage in India after orange fruits' edible components are consumed. However, the nation depends on important essential oils for usage in companies that produce goods, including food, beverages, cosmetics, and medicines. This study was conducted to show how to effectively use it. By using various extraction techniques, orange peel is used in the creation of essential oils. Stream distillation, water distillation, and solvent extraction were the techniques taken into consideration in this paper. Due to its relative prevalence among the extraction techniques, Design Expert 7.0 was used to plan an experimental run for solvent extraction. Oil was examined to ascertain its physical and chemical characteristics after extraction. It was determined from the outcomes that the orange peels.

Keywords: orange peels, extraction, distillation, essential oil

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Authors: Mujeeb Saif Mohsen Al-Absy, Ku Nor Izah Ku Ismail, Sitraselvi Chandren

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This study examines whether corporate governance (CG) mechanisms in firms that have a whistle-blowing policy (WHBLP) are more effective in constraining earnings management (EM), than those without. A sample of 288 Malaysian firms for the years 2013 to 2015, amounting to 864 firm-years were grouped into firms with and without WHBLP. Results show that for firms without WHBLP, the board chairman tenure would minimize EM activities. Meanwhile, for firms with WHBLP, board chairman independence, board chairman tenure, audit committee size, audit committee meeting and women in the audit committees are found to be associated with less EM activities. Further, it is found that ownership concentration and Big 4 auditing firms help to reduce EM activities in firms with WHBLP, while not in firms without WHBLP. Hence, functional and effective governance can be achieved by having a WHBLP, which is in line with agency and resource dependent theories. Therefore, this study suggests that firms should have a WHBLP in place, and policymakers should come up with enhanced criteria to strengthen the mechanisms of WHBLP.

Keywords: corporate governance, earnings management, whistle-blowing policy, audit committee, board of directors

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Authors: Dmitriy Yu. Korulkin, Raissa A. Muzychkina

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The article represents the results of research of antitumor activity of different structural types of plant flavonoids extracted by authors from Polygonum L. plants in commercial reserves at the territory of the Republic of Kazakhstan. For the first time ever the results comparative research of antitumor activity of plant flavonoids of different structural groups and their synthetic derivatives have been represented. The results of determination of toxicity of flavonoids in single parenteral infusion conditions have been represented. Experimental substantiation of possible mechanisms of antiproliferative and cytotoxic action of flavonoids has been suggested. The perspectives of usage of plant flavonoids as medications and creation of effective dosage forms of antitumor medicines on their basis have been substantiated.

Keywords: antitumor activity, cytotoxicity, flavonoids, Polygonum L., secondary metabolites

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Authors: Thuy Hanh Nguyen Thi

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By the method of deep reading and text analysis, this article will analyze the use and creation of dialects as a way of demonstrating Yan Lianke's creative stance. This article indicates that this is the writer’s narrative strategy in a fight against aphasia, a language disorder of Chinese people and culture, demonstrating a sense of return to folklore and marks his own linguistic style. In terms of verbal text, the dialect in the Yan Lianke’s novels manifested through the use of words, sentences and dialects. There are two types of dialects that exist in Yan Lianke’s novels: the current dialect system and the particular dialect system of Pa Lau world created by the writer himself in order to enrich the vocabulary of Han Chinese.

Keywords: Yan Lianke , aphasia, dialect, Pa Lou world

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Authors: Sawsen Khlifa, Chiheb AMeur Abid, Belhassan Zouari

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Modular verification approaches have been widely attempted to cope with the well known state explosion problem. This paper deals with the modular verification of modular Petri nets. We propose a reduced version for the modular state space of a given modular Petri net. The new structure allows the creation of smaller modular graphs. Each one draws the behavior of the corresponding module and outlines some global information. Hence, this version helps to overcome the explosion problem and to use less memory space. In this condensed structure, the verification of some generic properties concerning one module is limited to the exploration of its associated graph.

Keywords: distributed systems, modular verification, petri nets, state space explosition

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Authors: Ing-Jen Hung, Tzu-Chien Wang

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Nowadays, customers can interact with firms through miscellaneous online ads on different channels easily. In other words, customer now has innumerable options and limitless time to accomplish their commercial activities with firms, individualizing their own online customer journey. This kind of convenience emphasizes the importance of online advertisement allocation on different channels. Therefore, profound understanding of customer behavior can make considerable benefit from optimizing fund allocation on diverse ad channels. To achieve this objective, multiple firms utilize numerical methodology to create data-driven advertisement policy. In our research, we aim to exploit online customer click data to discover the correlations between each channel and their sequential relations. We use LSTM to deal with sequential property of our data and compare its accuracy with other non-sequential methods, such as CART decision tree, logistic regression, etc. Besides, we also classify our customers into several groups by their behavioral characteristics to perceive the differences between all groups as customer portrait. As a result, we discover distinct customer journey under each customer portrait. Our article provides some insights into marketing research and can help firm to formulate online advertising criteria.

Keywords: LSTM, customer journey, marketing, channel ads

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Authors: Abdessalem Abbassi, Ahlem Dakhlaoui, Lota D. Tamini

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This article analyses management of hydropower dams within two different industrial structures: monopolistic and oligopolistic; when hydroelectricity producers are risk averse and face demand uncertainty. In each type of market structure we determine the water release path in closed-loop equilibrium. We show how a monopoly can manage its hydropower dams by additional pumping or storage depending on the relative abundance of water between different regions to smooth the effect of uncertainty on electricity prices. In the oligopolistic case with symmetric rates of risk aversion, we determine the conditions under which the relative scarcity (abundance) of water in the dam of a hydroelectric operator can favor additional strategic pumping (storage) in its competitor’s dams. When there is asymmetry of the risk aversion coefficient, the firm’s hydroelectricity production increases as its competitor’s risk aversion increases, if and only if the average recharge speed of the competitor’s dam exceeds a certain threshold, which is an increasing function of its average water inflows.

Keywords: asymmetric risk aversion, closed-loop Cournot competition, electricity wholesale market, hydropower dams

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Authors: Mokgadi Julia Ngoepe-Ntsoane

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The article aims to make a case for a legislative framework for the fire sector in South Africa. Robust legislative framework is essential for empowering those with obligatory mandate within the sector. This article contributes to the body of knowledge in the field of policy reviews particularly with regards to the legal framework. It has been observed overtime that the scholarly contributions in this field are limited. Document analysis was the methodology selected for the investigation of the various legal frameworks existing in the country. It has been established that indeed the national legislation on the fire industry does not exist in South Africa. From the documents analysed, it was revealed that the sector is dominated by cartels who are exploiting the new entrants to the market particularly SMEs. It is evident that these cartels are monopolising the system as they have long been operating in the system turning it into self- owned entities. Commitment to addressing the challenges faced by fire services and creating a framework for the evolving role that fire brigade services are expected to execute in building safer and sustainable communities is vital. Legislation for the fire sector ought to be concluded with immediate effect. The outdated national fire legislation has necessitated the monopolisation and manipulation of the system by dominating organisations which cause a painful discrimination and exploitation of smaller service providers to enter the market for trading in that occupation. The barrier to entry bears long term negative effects on national priority areas such as employment creation, poverty, and others. This monopolisation and marginalisation practices by cartels in the sector calls for urgent attention by government because if left attended, it will leave a lot of people particularly women and youth being disadvantaged and frustrated. The downcast syndrome exercised within the fire sector has wreaked havoc and is devastating. This is caused by cartels that have been within the sector for some time, who know the strengths and weaknesses of processes, shortcuts, advantages and consequences of various actions. These people take advantage of new entrants to the sector who in turn find it difficult to manoeuvre, find the market dissonant and end up giving up their good ideas and intentions. There are many pieces of legislation which are industry specific such as housing, forestry, agriculture, health, security, environmental which are used to regulate systems within the institutions involved. Other regulations exist as bi-laws for guiding the management within the municipalities.

Keywords: sustainable job creation, growth and development, transformation, risk management

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Authors: Zayen Chagra

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Several educational institutions are experimenting new approaches in learning in order to guarantee the success of its students. In Tunisia, and since 2011, the experience of making a new software engineering branch called mobile software engineering began at ESPRIT: Higher School of Engineering and Technology. The project was surprisingly a success since its creation, and even before the graduation of the first generation, partnerships were held with the biggest mobile technology manufacturers and several international awards were won by teams of students. This session presents this experience with details of the approaches made from idea stage to the actual stage where the project counts 32 graduated engineers, 90 graduate students and 120 new participants.

Keywords: innovation, education, engineering education, mobile

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