Search results for: business innovation
3758 Pro Grow Business Partnerships: Unlocking the Potential of SMEs Indonesia With Resource Advantage Theory of Competition Approach
Authors: Kesi Widjajanti
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To develop the growth of small and medium enterprises (SMEs), it is important to unlock potential resources that can improve their performance. Business Partnerships (BP) are currently an interesting topic of strategy to use to expand markets and maximize financial and marketing performance. However, many business partnerships have not quite a role among small and medium companies in the creative industry in the Batik Craft sector in Indonesia. This study is rooted in the Resource Advantage Theory of Competition ( RAToC), which emphasizes that the advantage of company resources can be sourced from organizational and relational resources. With the basis of this theory, SMEs can optimize the allocation of relational resources and organizational goals, improve operational efficiency, and gain a strategic advantage in the market. Companies that are able to actualize organizational and relational resources better than other market players can be used for the process of increasing their superior performance. This study explores key elements from the RAToC perspective and shows how Business Partnerships have the potential to drive SMEs' growth. By aligning visions, and organizational resources, sharing knowledge and leveraging complementary relational resources, SMEs can increase their competitiveness, enter new markets, and achieve superior performance. The theoretical contribution of RAToC in small companies is due to the role of Pro-Grow Business Partnership strength as an important antecedent for improving SMEs' performance. The benefits (scenarios) of a Business Partnership to grow together are directed at optimizing resources that can create additional value for customers so that they can outperform competitors. Furthermore, managerial implications for SMEs who wish to unlock their resource potential can encourage the role of Pro-Grow Business Partnerships, which have specific characteristics, can absorb experience/knowledge capacity and utilize this knowledge for the development of "together" business ventures.Keywords: pro grow business partnership, performance, SMEs, resources advantage theory of competition, industry kreatif batik handycraft indonesia
Procedia PDF Downloads 753757 Business Domain Modelling Using an Integrated Framework
Authors: Mohammed Hasan Salahat, Stave Wade
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This paper presents an application of a “Systematic Soft Domain Driven Design Framework” as a soft systems approach to domain-driven design of information systems development. The framework combining techniques from Soft Systems Methodology (SSM), the Unified Modeling Language (UML), and an implementation pattern knows as ‘Naked Objects’. This framework have been used in action research projects that have involved the investigation and modeling of business processes using object-oriented domain models and the implementation of software systems based on those domain models. Within this framework, Soft Systems Methodology (SSM) is used as a guiding methodology to explore the problem situation and to develop the domain model using UML for the given business domain. The framework is proposed and evaluated in our previous works, and a real case study ‘Information Retrieval System for Academic Research’ is used, in this paper, to show further practice and evaluation of the framework in different business domain. We argue that there are advantages from combining and using techniques from different methodologies in this way for business domain modeling. The framework is overviewed and justified as multi-methodology using Mingers Multi-Methodology ideas.Keywords: SSM, UML, domain-driven design, soft domain-driven design, naked objects, soft language, information retrieval, multimethodology
Procedia PDF Downloads 5603756 Driving Performance Improvement in Mini Markets: The Impact of Talent Management, Business Skills, and Technology Adoption in Johannesburg and Cape Town, South Africa
Authors: Fedil Jemal Ahmed
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This conference abstract paper presents a study that aimed to explore the impact of talent management and business skills on performance improvement in mini markets located in Johannesburg and Cape Town, South Africa. Mini markets are small retail stores that play a crucial role in providing essential goods and services to communities. However, due to their small size, they often face significant challenges in terms of resources and management. The study conducted interviews with mini market owners and managers in Johannesburg and Cape Town to understand their approach to talent management, business skills, and their impact on business performance. The results showed that effective talent management practices, including recruitment, training, and retention, along with strong business skills, had a significant positive impact on business performance in mini markets. Furthermore, the study found that the use of technology, such as point of sale systems and inventory management software, can also contribute to business performance improvement in mini markets. The results suggest that mini market owners and managers should prioritize talent management, business skills, and invest in technology to improve their business performance. Comparing the improvements made by mini markets in Johannesburg and Cape Town to those made by others, the study found that the adoption of effective talent management practices and strong business skills were key factors in driving performance improvement. Mini market owners and managers who invested in these areas were better equipped to manage their resources, enhance their customer service, and increase their profitability. When comparing the personal experiences of the fedil jemal who improved their business performance from a small market to a large one, they found that effective talent management practices and strong business skills were crucial in achieving success. Through the adoption of effective talent management practices, the fedil was able to attract and retain top talent, ensuring that the business was managed effectively. Furthermore, the fedil invested in improving their business skills, such as financial management, marketing, and customer service, which helped to increase their revenue and profitability. In terms of technology adoption, the author found that the use of point-of-sale systems and inventory management software were essential in managing their inventory and improving their customer service. By investing in technology, the fedil was able to streamline their operations and enhance their overall business performance. In conclusion, this study provides valuable insights into the importance of talent management, business skills, and technology adoption in improving business performance in mini markets. It highlights the need for mini market owners and managers to prioritize these areas and invest in them to enhance their business performance. The findings of this study have practical implications for mini market owners and managers who are looking to improve their business performance and compete in a highly competitive market. By adopting effective talent management practices, developing strong business skills, and investing in technology, mini market owners and managers can improve their operations and increase their profitability.Keywords: talent management, business skills, technology adoption, mini markets
Procedia PDF Downloads 1013755 Stating Best Commercialization Method: An Unanswered Question from Scholars and Practitioners
Authors: Saheed A. Gbadegeshin
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Commercialization method is a means to make inventions available at the market for final consumption. It is described as an important tool for keeping business enterprises sustainable and improving national economic growth. Thus, there are several scholarly publications on it, either presenting or testing different methods for commercialization. However, young entrepreneurs, technologists and scientists would like to know the best method to commercialize their innovations. Then, this question arises: What is the best commercialization method? To answer the question, a systematic literature review was conducted, and practitioners were interviewed. The literary results revealed that there are many methods but new methods are needed to improve commercialization especially during these times of economic crisis and political uncertainty. Similarly, the empirical results showed there are several methods, but the best method is the one that reduces costs, reduces the risks associated with uncertainty, and improves customer participation and acceptability. Therefore, it was concluded that new commercialization method is essential for today's high technologies and a method was presented.Keywords: commercialization method, technology, knowledge, intellectual property, innovation, invention
Procedia PDF Downloads 3423754 Sustainability Model for Rural Telecenter Using Business Intelligence Technique
Authors: Razak Rahmat, Azizah Ahmad, Rafidah Razak, Roshidi Din, Azizi Abas
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Telecenter is a place where communities can access computers, the Internet, and other digital technologies to enable them to gather information, create, learn, and communicate with others. However, previous studies found that sustainability issues related to economic, political and institutional, social and technology is one of the major problem faced by the telecenter. Based on that problem, this research is planning to design a possible solution on rural telecenters sustainability with the support of business intelligence (BI). The empirical study will be conducted through the qualitative and quantitative method including interviews and observations with a range of stakeholders including ministry officers, telecenters managers and operators. Result from the data collection will be analyze using the causal modeling approach of SEM SmartPLS for the validity. The expected finding from this research is the Business Intelligent Requirement Model as a guild for sustainability of the rural telecenters.Keywords: Rural ICT Telecenter(RICTT), business intelligence, sustainability, requirement analysis modal
Procedia PDF Downloads 4833753 Study on the Characteristics of Chinese Urban Network Space from the Perspective of Innovative Collaboration
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With the development of knowledge economy era, deepening the mechanism of cooperation and adhering to sharing and win-win cooperation has become new direction of urban development nowadays. In recent years, innovative collaborations between cities are becoming more and more frequent, whose influence on urban network space has aroused many scholars' attention. Taking 46 cities in China as the research object, the paper builds the connectivity of innovative network between cities and the linkages of urban external innovation using patent cooperation data among cities, and explores urban network space in China by the application of GIS, which is a beneficial exploration to the study of social network space in China in the era of information network. The result shows that the urban innovative network space and geographical entity space exist differences, and the linkages of external innovation are not entirely related to the city innovative capacity and the level of economy development. However, urban innovative network space and geographical entity space are similar in hierarchical clustering. They have both formed Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta three metropolitan areas and Beijing-Shenzhen-Shanghai-Hangzhou four core cities, which lead the development of innovative network space in China.Keywords: innovative collaboration, urban network space, the connectivity of innovative network, the linkages of external innovation
Procedia PDF Downloads 1783752 Bridging Consumer Farmer Mobile Application Divide
Authors: Ana Hol
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Technological inventions such as websites, blogs, smartphone applications are on a daily basis influencing our decision making, are improving our productivity and are shaping futures of many consumer and service/product providers. This research identifies that these days both customers and providers heavily rely on smart phone applications. With this in mind, iTunes mobile applications store has been studies. It was identified that food related applications used by consumers can broadly be categorized into purchase apps, diaries, tracking health apps, trip farm location apps and cooking apps. On the other hand, apps used by farmers can be classified as: weather apps, pests / fertilizer app and general Facebook apps. With the aim to blur this farmer-consumer divide our research utilizes Context Specific eTransformation Framework and based on it identifies characteristic of the app that would allow this to happen.Keywords: smart phone applications, SME - farmers, consumer, technology, business innovation
Procedia PDF Downloads 3833751 Adopting a Stakeholder Perspective to Profile Successful Sustainable Circular Business Approaches: A Single Case Study
Authors: Charleen von Kolpinski, Karina Cagarman, Alina Blaute
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The circular economy concept is often framed by politicians, scientists and practitioners as being the solution to sustainability problems of our times. However, the focus of these discussions and publications is very often set on environmental and economic aspects. In contrast, the social dimension of sustainability has been neglected and only a few recent and mostly conceptual studies targeted the inclusion of social aspects and the SDGs into circular economy research. All stakeholders of this new circular system have to be included to represent a truly sustainable solution to all the environmental, economic and social challenges caused by the linear economic system. Hence, this empirical research aims to analyse, next to the environmental and economic dimension, also explicitly the social dimension of a sustainable circular business model. This inductive and explorative approach applies the single case study method. A multi-stakeholder view is adopted to shed light on social aspects of the circular business model. Different stakeholder views, tensions between stakeholders and conflicts of interest are detected. In semi-structured interviews with different stakeholders of the company, this study compares the different stakeholder views to profile the success factors of its business model in terms of sustainability implementation and to detect its shortcomings. These findings result in the development of propositions which cover different social aspects of sustainable circular business model implementation. This study is an answer to calls for future empirical research about the social dimension of the circular economy and contributes to sustainable business model thinking in entrepreneurial contexts of the circular economy. It helps identifying all relevant stakeholders and their needs to successfully and inclusively implement a sustainable circular business model. The method of a single case study has some limitations by nature as it only covers one enterprise with its special business model. Therefore, more empirical studies are needed to research sustainable circular business models from multiple stakeholder perspectives, in different countries and industries. Future research can build upon the developed propositions of this study and develop hypotheses to be tested.Keywords: circular economy, single case study, social dimension, sustainable circular business model
Procedia PDF Downloads 1753750 Consumer Innovativeness and Shopping Styles: An Empirical Study in Turkey
Authors: Hande Begum Bumin Doyduk, Elif Okan Yolbulan
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Innovation is very important for success and competitiveness of countries, as well as business sectors and individuals' firms. In order to have successful and sustainable innovations, the other side of the game, consumers, should be aware of the innovations and appreciate them. In this study, the consumer innovativeness is focused and the relationship between motivated consumer innovativeness and consumer shopping styles is analyzed. Motivated consumer innovativeness scale by (Vandecasteele & Geuens, 2010) and consumer shopping styles scale by (Sproles & Kendall, 1986) is used. Data is analyzed by SPSS 20 program through realibility, factor, and correlation analysis. According to the findings of the study, there are strong positive relationships between hedonic innovativeness and recreational shopping style; social innovativeness and brand consciousness; cognitive innovativeness and price consciousness and functional innovativeness and perfectionistic high-quality conscious shopping styles.Keywords: consumer innovativeness, consumer decision making, shopping styles, innovativeness
Procedia PDF Downloads 4313749 About the Case Portfolio Management Algorithms and Their Applications
Authors: M. Chumburidze, N. Salia, T. Namchevadze
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This work deal with case processing problems in business. The task of strategic credit requirements management of cases portfolio is discussed. The information model of credit requirements in a binary tree diagram is considered. The algorithms to solve issues of prioritizing clusters of cases in business have been investigated. An implementation of priority queues to support case management operations has been presented. The corresponding pseudo codes for the programming application have been constructed. The tools applied in this development are based on binary tree ordering algorithms, optimization theory, and business management methods.Keywords: credit network, case portfolio, binary tree, priority queue, stack
Procedia PDF Downloads 1503748 Willingness of Spanish Wineries to Implement Renewable Energies in Their Vineyards and Wineries, as Well as the Limitations They Perceive for Their Implementation
Authors: Javier Carroquino, Nieves García-Casarejos, Pilar Gargallo
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Climate change, depletion of non-renewable resources in the current energies, pollution from them, the greater ecological awareness of the population, are factors that suggest the change of energy sources in business. The agri-food industry is a growth sector, concerned about product innovation, process and with a clear awareness of what climate change may mean for it. This sector is supposed to have a high receptivity to the implementation of clean energy, as this favors not only the environment but also the essence of its business. This work, through surveys, aims to know the willingness of Spanish wineries to implement renewable energies in their vineyards, as well as the limitations they perceive for their implementation. This questionnaire allows the characterization of the sector in terms of its geographical typologies, their activity levels, their perception of environmental issues, the degree of implementation of measures to mitigate climate change and improve energy efficiency, and its uses and energy consumption. The analysis of data proves that the penetration of renewable energies is still at low levels, being the most used energies, solar thermal, photovoltaic and biomass. The initial investment seems to be at the origin of the lack of implantation of this type of energy in the wineries, and not so much the costs of operations and maintenance. The environmental management of the wineries is still at an embryonic stage within the company's organization chart, because these services are either outsourced or, if technicians are available, they are not exclusively dedicated to these tasks. However, there is a strong environmental awareness, as evidenced by the number of climate change mitigation and energy efficiency measures already adopted. The gap between high awareness and low achievement is probably due to the lack of knowledge about how to do it or the perception of a high cost.Keywords: survey, renewable energy, winery, Spanish case
Procedia PDF Downloads 2523747 Informing, Enabling and Inspiring Social Innovation by Geographic Systems Mapping: A Case Study in Workforce Development
Authors: Cassandra A. Skinner, Linda R. Chamberlain
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The nonprofit and public sectors are increasingly turning to Geographic Information Systems for data visualizations which can better inform programmatic and policy decisions. Additionally, the private and nonprofit sectors are turning to systems mapping to better understand the ecosystems within which they operate. This study explores the potential which combining these data visualization methods—a method which is called geographic systems mapping—to create an exhaustive and comprehensive understanding of a social problem’s ecosystem may have in social innovation efforts. Researchers with Grand Valley State University collaborated with Talent 2025 of West Michigan to conduct a mixed-methods research study to paint a comprehensive picture of the workforce development ecosystem in West Michigan. Using semi-structured interviewing, observation, secondary research, and quantitative analysis, data were compiled on workforce development organizations’ locations, programming, metrics for success, partnerships, funding sources, and service language. To best visualize and disseminate the data, a geographic system map was created which identifies programmatic, operational, and geographic gaps in workforce development services of West Michigan. By combining geographic and systems mapping methods, the geographic system map provides insight into the cross-sector relationships, collaboration, and competition which exists among and between workforce development organizations. These insights identify opportunities for and constraints around cross-sectoral social innovation in the West Michigan workforce development ecosystem. This paper will discuss the process utilized to prepare the geographic systems map, explain the results and outcomes, and demonstrate how geographic systems mapping illuminated the needs of the community and opportunities for social innovation. As complicated social problems like unemployment often require cross-sectoral and multi-stakeholder solutions, there is potential for geographic systems mapping to be a tool which informs, enables, and inspires these solutions.Keywords: cross-sector collaboration, data visualization, geographic systems mapping, social innovation, workforce development
Procedia PDF Downloads 2953746 Factors Affecting Mobile Internet Adoption in an Emerging Market
Authors: Maha Mourad, Fady Todros
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The objective of this research is to find an explanatory model to define the most important variables and factors that affect the acceptance of Mobile Internet in the Egyptian market. A qualitative exploratory research was conducted to support the conceptual framework followed with a quantitative research in the form of a survey distributed among 411 respondents. It was clear that relative advantage, complexity, compatibility, perceived price level and perceived playfulness have a dominant role in influencing consumers to adopt mobile internet, while observability is correlated to the adoption but when measured with the other factors it lost its value. The perceived price level has a negative relationship with the adoption as well the compatibility.Keywords: innovation, Egypt, communication technologies, diffusion, innovation adoption, emerging market
Procedia PDF Downloads 4523745 The Effect of Symmetrical Presentation of a "Photographic Mind Map" on the Production of Design Solutions
Authors: Pascal Alberti, Mustapha Mouloua
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In today’s global market economy, various companies are often confronted with the dynamic and complex nature of current competitive markets. The dynamics of these markets are becoming more and more fluid, often requiring companies to provide competitive, definite advantages, and technological responses within increasingly shorte time frames. To meet these demands, companies must rely on the cognitive abilities of actors of creativity to provide tangible answers to the current contextual problems. Thus, it is important to provide a variety of instruments and design tools to support this particular stage of innovation, and to meet their demand expectations. For a number of years now, we have been extensively conducting experiments on the use of mind maps in the context of innovative projects with collaborative research teams from various nationalities. Our research findings reported a significant difference between a “Word” Mind Map and “Photographic” Mind Map, a correlation between the different uses of iconic tools and certain types of innovation, and a relationship between the different cognitive logics. In this paper, we will present our new results related to the effect of symmetrical presentation of a Photographic Mind Map" on the production of design solutions. Finally, we will conclude by highlighting the importance of our experimental method, and discussing both the theoretical and practical implications of our research.Keywords: creativity, innovation, management, mind mapping, design product
Procedia PDF Downloads 5083744 Governance Commitment and Time Differences in Aspects of Sustainability Reporting in Nigerian Banks
Authors: Nwobu Obiamaka, Owolabi Akintola
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This study examined the extent of statistical significant difference between the economic, environmental, governance and social aspects of sustainability reporting as a result of board committee on sustainability and time (year) of reporting for business organizations in the Nigerian banking sector. The years of reporting under consideration were 2010, 2011, 2012 and 2013. Content analysis methodology was employed through a reporting index used to score the amount of economic, environmental, governance and social indicators of sustainability reporting. The results of this study indicated that business organizations with board committee on sustainability had more indicators of sustainability reporting than those without board committees on sustainability issues. Also, sustainability reporting in 2013 was higher than that of prior years (2012, 2011 and 2010) for the economic, environmental and social indicators. The governance indicators of 2012 was highest compared to the other years (2013, 2011 and 2010) under consideration in this study. The implication of this finding is that business organizations that have board committees on sustainability are monitored by such boards to report more to their stakeholders. On the other hand, business organizations are appreciating the need to engage in sustainability reporting with each passing year. This could be due to the Central Bank of Nigeria (CBN) Sustainability Reporting framework that business organizations in the banking sector have to adhere to. When sustainability issues are monitored from the board of directors, business organizations are likely to increase and improve on their sustainability reporting.Keywords: governance, organizations, reporting, sustainability
Procedia PDF Downloads 3193743 Government Credit Card in State Financial Management: Public Sector Innovation in Indonesia
Authors: Paramita Nur Kurniati, Stanislaus Riyanta
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In the midst of the heightened usage of electronic money (e-money), Indonesian government expenditure is yet governed through cash-basis transactions. This conventional system brings about a number of potential risks and obstacles to operational conduct, including state financial liquidity issue. Consequently, Ministry of Finance is currently establishing the cashless payment methods for State Budget (APBN). Included in those advance methods is credit card facility as a government expenditure payment scheme. This policy is one of the innovations within the public sector learned from other countries’ best practices. Moreover, this particular method is already prominent within the private-sector realm. Qualitative descriptive analysis technique is implemented to evaluate the contemporary innovation of using government credit card in the path towards cashless society. This approach is expected to generate several benefits for the government, particularly in minimizing corruption within the state financial management. Effective coordination among policy makers and policy implementers is essential for the success of this policy’s exercise, without neglecting prudence and public transparency aspects. Government credit card usage shall be the potent resolution for enhancing the government’s overall public service performance.Keywords: cashless basis, cashless society, government credit card, public sector innovation
Procedia PDF Downloads 1493742 Critical Vision Innovation and Creativity in the Architecture and Urbanism of the Land in Islam between Traditionalism and Positivism
Authors: Wafeek Mohamed Ibrahim Mohamed
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In the era of globalization and openness informational. Anyone who thinks about innovation in the earth population in Islam in our contemporary reality, he will find that it is not destined to its civilized extension to last. The purpose of the research is a trial to reach a realistic vision for creative, innovative and intellectual thought for the earth population in Islam as an instrument to Confrontation and observe the changes that have affected in the architecture of the land during different eras. Through knowing the controls of the ruling legitimacy(that served as definitions and laws which formulate its features) and using customs, traditions, and conventions as a telescope for the earth population in Islam, It explained the impact of them on features of creative formation for the architecture of the land in our contemporary reality. The study shows a modern vision to identify innovation in the earth population in Islam. As well as reformulating its mental image and monitoring its changes in Islamic heritage cities. This will be done through a two main branches: firstly, set forth a theory represented in studying creative concepts which formulate the population of the earth in Islam. Such as initiative and responsibility for reviving the dead land, the lane [alley] as formation unit and social solidarity,… Etc.. The second branch is preparing a practical, critical vision for innovative conceptual thought for the architecture of the land of Islam, through studying the development of a traditional Islamic city., The conceptual thought of making the birth festival ["Al-Refaee"] and its emulation for governing roles in the traditional city building. The research concludes The necessity of forming the suggested a creative vision for identifying how to re-form the conceptual for our contemporary population of the earth. It poses an important question which is how to return to creativity in the architecture of the land of Islam in our built environments.Keywords: innovation and creation, architecture, the land in Islam, criticism of design
Procedia PDF Downloads 4583741 A Study on Employer Branding and Its Impact on Employee
Authors: Kvnkc Sharma
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Globalization, coupled with increase in competition is compelling organizations to adopt innovative strategies and identify core competencies in order to distinguish themselves from the competition. The capability of an organization is no longer determined by their products or services alone. The intellectual assets and quality of the human resource are fast emerging as key differentiators. Corporations are now positioning themselves as ‘brands’ not solely to market their products and services, but also to lure and to retain the best talent in the business. This paper identifies leadership as the ‘key element’ in developing an organization’s brand, which has a significant influence on the employee’s eventual perception of this external brand as portrayed by the organization. External branding incorporates innovation, consumer concern, trust, quality and sustainability. The paper contends that employees are indeed an organization’s ‘brand ambassadors. Internal branding involves taking care of these ambassadors of corporate brand i.e. human resource. If employees of an organization are not exposed to the organization’s branding (an ongoing process that functionally aligns, motivates and empower employees at all levels to consistently provide a satisfying customer experience), the external brand could be jeopardized. Internal branding, on the other hand, refers to employee’s perception of the organization’s brand. The current business environment can at best, be termed as volatile. Employees with the right technical and behavioral skills remain a scarce resource and the employers need to be ready to capture the attention, interest and commitment of the best and brightest candidates. This paper attempts to review and understand the relationship between employer branding and employee retention. The paper also seeks to identify potential impact of employer branding across all the factors affecting employees.Keywords: external branding, human resource, internal branding, leadership
Procedia PDF Downloads 2473740 New Opportunities in Business as a Result of the Corona Virus
Authors: Lasha Kamashidze
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COVID19 has already become one of the biggest challenges in the modern world. The virus has also had a significant impact on the world economy, which has faced a major crisis. Each crisis and challenge creates new opportunities. Changes in the world have allowed us to see business in a new light. The aim of the article is to explore new opportunities in the business that have arisen as a result of the Corona virus. Now, organizations with a service profile are working to meet the rapidly changing needs of their staff and customers. Due to the situation created by the pandemic, it became necessary to make some changes in people's daily lives. It became necessary to adapt to the new reality. The changes caused by Coronavirus require in-depth research and analysis in the world economy, as the current situation is not ruled out to be repeated in the future. Many companies have resorted to remote work methods, which require organizational changes. The form of remote work is not new to the Georgian reality. In Georgia, as well as in the rest of the world, the business sector has undergone changes. It will be beneficial for many Georgian companies to make organizational changes that will allow them to work remotely. The current situation has shown the managers of both Georgian and other companies to have "weak points" in organizing modern business. A survey was conducted (online survey), as a result of which it received important information about the problems of remote work in Georgia.Keywords: organizational change, coronomics, remote work, management
Procedia PDF Downloads 883739 Create a Model of Production and Marketing Strategies in Alignment with Business Strategy Using QFD Approach
Authors: Hamed Saremi, Shahla Saremi
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In today's competitive world, organizations are expected to surpass the competitors and benefit from the resources and benefits. Therefore, organizations need to improve the current performance is felt more than ever that this requires to identify organizational optimal strategies, and consider all strategies simultaneously. In this study, to enhance competitive advantage and according to customer requirements, alignment between business, production and marketing strategies, House of Quality (QFD) approach has been used and zero-one linear programming model has been studied. First, the alignment between production and marketing strategies with business strategy, independent weights of these strategies is calculated. Then with using QFD approach the aligned weights of optimal strategies in each production and marketing field will be obtained and finally the aligned marketing strategies selection with the purpose of allocating budget and specialist human resource to marketing functions will be done that lead to increasing competitive advantage and benefit.Keywords: marketing strategy, business strategy, strategy alignment, house of quality deployment, production strategy
Procedia PDF Downloads 6053738 Entrepreneurship in Pakistan: Opportunities and Challenges
Authors: Bushra Jamil, Nudrat Baqri, Muhammad Hassan Saeed
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Entrepreneurship is creating or setting up a business not only for the purpose of generating profit but also for providing job opportunities. Entrepreneurs are problem solvers and product developers. They use their financial asset for hiring a professional team and combine the innovation, knowledge, and leadership leads to a successful startup or a business. To be a successful entrepreneur, one should be people-oriented and have perseverance. One must have the ability to take risk, believe in his/her potential, and have the courage to move forward in all circumstances. Most importantly, have the ability to take risk and can assess the risk. For STEM students, entrepreneurship is of specific importance and relevance as it helps them not just to be able to solve real life existing complications but to be able to recognize and identify emerging needs and glitches. It is becoming increasingly apparent that in today’s world, there is a need as well as a desire for STEM and entrepreneurship to work together. In Pakistan, entrepreneurship is slowly emerging, yet we are far behind. It is high time that we should introduce modern teaching methods and inculcate entrepreneurial initiative in students. A course on entrepreneurship can be included in the syllabus, and we must invite businessmen and policy makers to motivate young minds for entrepreneurship. This must be pitching competitions, opportunities to win seed funding, and facilities of incubation centers. In Pakistan, there are many good public sector research institutes, yet there is a void gap in the private sector. Only few research institute are meant for research and development. BJ Micro Lab is one of them. It is SECP registered company and is working in academia to promote and facilitate research in STEM. BJ Micro Lab is a women led initiative, and we are trying to promote research as a passion, not as an arduous burden. For this, we are continuously arranging training workshops and sessions. More than 100 students have been trained in ten different workshops arranged at BJ Micro Lab.Keywords: entrepreneurship, STEM, challenges, oppurtunties
Procedia PDF Downloads 1293737 Diversity and Intensity of International Technology Transfer and their Impacts on Organizational Performance
Authors: Seongryong Kang, Woonjin Kim, Sungjoo Lee
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Under the environment of fierce competition and globalized economy, international technology collaboration has gained increasing attention as a way to improve innovation efficiency. While international technology transfer helps a firm to acquire necessary technology in a short period of time, it also has a risk; embedding external technology from overseas partners may cause a transaction cost due to the regional, cultural and language barriers, which tend to offset the benefits of such transfer. Though a number of previous studies have focused on the effects of technology in-transfer on firm performance, few have conducted in the context of international technology transfer. To fill this gap, this study aims to investigate the impact of international technology in-transfer on firm performance – both innovation and financial performance, with a particular emphasis on the diversity and intensity of such transfer. To do this, we adopted technology balance payment (TBP) data of Korean firms from 2010 to 2011, where an intermediate regression analysis was used to identify the intermediate effects of absorptive capacity. The analysis results indicate that i) the diversity and intensity of international technology transfer influence innovation performance by improving R&D capability positively; and ii) the diversity has a positive impact but the intensity has a negative impact on financial performance through the intermediation of R&D intensity. The research findings are expected to provide meaningful implications for establishing global technology strategy and developing policy programs to facilitate technology transfer.Keywords: diversity, intensity, international technology acquisition, performance, technology transfer
Procedia PDF Downloads 3613736 Patents as Indicators of Innovative Environment
Authors: S. Karklina, I. Erins
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The main problem is that there is a very low innovation performance in Latvia. Since Latvia is a Member State of European Union, it also shall have to fulfill the set targets and to improve innovative results. Universities are one of the main performers to provide innovative capacity of country. University, industry and government need to cooperate for getting best results. The intellectual property is one of the indicators to determine innovation level in the country or organization and patents are one of the characteristics of intellectual property. The objective of the article is to determine indicators characterizing innovative environment in Latvia and influence of the development of universities on them. The methods that will be used in the article to achieve the objectives are quantitative and qualitative analysis of the literature, statistical data analysis, and graphical analysis methods.Keywords: HEI, innovations, Latvia, patents
Procedia PDF Downloads 3153735 An Exploration of Why Insider Fraud Is the Biggest Threat to Your Business
Authors: Claire Norman-Maillet
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Insider fraud, otherwise known as occupational, employee, or internal fraud, is a financial crime threat. Perpetrated by defrauding (or attempting to defraud) one’s current, prospective, or past employer, an ‘employee’ covers anyone employed by the company, including board members and contractors. The Coronavirus pandemic has forced insider fraud into the spotlight, and it isn’t dimming. As the focus of most academics and practitioners has historically been on that of ‘external fraud’, insider fraud is often overlooked or not considered to be a real threat. However, since COVID-19 changed the working world, pushing most of us into remote or hybrid working, employers cannot easily keep an eye on what their staff are doing, which has led to reliance on trust and transparency. This, therefore, brings about an increased risk of insider fraud perpetration. The objective of this paper is to explore why insider fraud is, therefore, now the biggest threat to a business. To achieve the research objective, participating individuals within the financial crime sector (either as a practitioner or consultants) attended semi-structured interviews with the researcher. The principal recruitment strategy for these individuals was via the researcher’s LinkedIn network. The main findings in the research suggest that insider fraud has been ignored and rejected as a threat to a business, owing to a reluctance to admit that a colleague may perpetrate. A positive of the Coronavirus pandemic is that it has forced insider fraud into a more prominent position and giving it more importance on a business’ agenda and risk register. Despite insider fraud always having been a possibility (and therefore a risk) within any business, it is very rare that a business has given it the attention it requires until now, if at all. The research concludes that insider fraud needs to prioritised by all businesses, and even ahead of external fraud. The research also provides advice on how a business can add new or enhance existing controls to mitigate the risk.Keywords: insider fraud, occupational fraud, COVID-19, COVID, coronavirus, pandemic, internal fraud, financial crime, economic crime
Procedia PDF Downloads 643734 The Importance of Training in Supply Chain Management on Personnel Differentiation and Business Performance
Authors: Arawati Agus, Rahmah Ismail
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An effective training has been increasingly recognized as critical factors in enhancing the skills and knowledge of employee or personnel in the organization. More and more manufacturing companies in Malaysia are increasingly incorporating training as an important element in supply chain management (SCM) to improve their employee skills and knowledge and ultimately organizational performances. In order to understand the connection of training in SCM and the performance of an organization, this paper considers of many arguments from various research papers. This paper presents the findings of a research which examines the relationship between training in SCM, personnel differentiation and business performance of manufacturing companies in Malaysia. The study measures perception of senior management regarding the incorporation of training in SCM and the level of personnel differentiation and business performance measurements in their companies. The associations between training in SCM, personnel differentiation and business performance dimensions are analyzed through methods such as Pearson’s correlations and Smart partial least squares (smart PLS) using 126 respondents’ data. The correlation results demonstrate that training in SCM has significant correlations with personnel differentiation determinants (comprises of variables namely employee differentiation and service differentiation). The findings also suggest that training in SCM has significant correlations with business performance determinants (comprises of indicators, namely market share, profitability, ROA and ROS). Specifically, both personnel differentiation and business performance have high correlations with training in SCM, namely ‘Employee training on production skills’, ‘On the job production employee training’ and ‘Management training on supply chain effectiveness’ and ‘Employee training on supply chain technologies’. The smart PLS result also reveals that training in SCM exhibits significant impact on both personnel differentiation (directly) and business performance (indirectly mediated by personnel differentiation). The findings of the study provide a demonstration of the importance of training in SCM in enhancing competitive performances in Malaysian manufacturing companies.Keywords: training in SCM, personnel differentiation, business performance, Pearson’s correlation, Smart PLS
Procedia PDF Downloads 3243733 Implementation of Big Data Concepts Led by the Business Pressures
Authors: Snezana Savoska, Blagoj Ristevski, Violeta Manevska, Zlatko Savoski, Ilija Jolevski
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Big data is widely accepted by the pharmaceutical companies as a result of business demands create through legal pressure. Pharmaceutical companies have many legal demands as well as standards’ demands and have to adapt their procedures to the legislation. To manage with these demands, they have to standardize the usage of the current information technology and use the latest software tools. This paper highlights some important aspects of experience with big data projects implementation in a pharmaceutical Macedonian company. These projects made improvements of their business processes by the help of new software tools selected to comply with legal and business demands. They use IT as a strategic tool to obtain competitive advantage on the market and to reengineer the processes towards new Internet economy and quality demands. The company is required to manage vast amounts of structured as well as unstructured data. For these reasons, they implement projects for emerging and appropriate software tools which have to deal with big data concepts accepted in the company.Keywords: big data, unstructured data, SAP ERP, documentum
Procedia PDF Downloads 2713732 The Influence of Market Attractiveness and Core Competence on Value Creation Strategy and Competitive Advantage and Its Implication on Business Performance
Authors: Firsan Nova
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The average Indonesian watches 5.5 hours of TV a day. With a population of 242 million people and a Free-to-Air (FTA) TV penetration rate of 56%, that equates to 745 million hours of television watched each day. With such potential, it is no wonder that many companies are now attempting to get into the Pay TV market. Research firm Media Partner Asia has forecast in its study that the number of Indonesian pay-television subscribers will climb from 2.4 million in 2012 to 8.7 million by 2020, with penetration scaling up from 7 percent to 21 percent. Key drivers of market growth, the study says, include macro trends built around higher disposable income and a rising middle class, with leading players continuing to invest significantly in sales, distribution and content. New entrants, in the meantime, will boost overall prospects. This study aims to examine and analyze the effect of Market Attractiveness and the Core Competence on Value Creation and Competitive Advantage and its impact to Business Performance in the pay TV industry in Indonesia. The study using strategic management science approach with the census method in which all members of the population are as sample. Verification method is used to examine the relationship between variables. The unit of analysis in this research is all Indonesian Pay TV business units totaling 19 business units. The unit of observation is the director and managers of each business unit. Hypothesis testing is performed by using statistical Partial Least Square (PLS). The conclusion of the study shows that the market attractiveness affects business performance through value creation and competitive advantage. The appropriate value creation comes from the company ability to optimize its core competence and exploit market attractiveness. Value creation affects competitive advantage. The competitive advantage can be determined based on the company's ability to create value for customers and the competitive advantage has an impact on business performance.Keywords: market attractiveness, core competence, value creation, competitive advantage, business performance
Procedia PDF Downloads 3483731 Deployment of a Product Lifecyle Management (PLM) Solution Towards Digital Transformation
Authors: Asmae Chraibi, Rachid Lghoul, Nabil Rhiati
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In the era of Industry 4.0, enterprises are increasingly employing digital technologies in order to improve their product development processes. This research focuses on the strategic deployment of Product Lifecycle Management (PLM) solutions during production as a key tracker of traceability and digital transformation activities. The study explores the integration of PLM within a larger organizational framework, examining its impact on product lifecycle efficiency, corporation, and innovation. Through a comprehensive analysis of a real case study from the automotive industry, this project evaluates the critical success factors and challenges associated with implementing PLM solutions for digital transformation. Moreover, it explores the synergic relationship between PLM and emerging technologies such as 3D experience and SOLIDWORKS, elucidating their combined potential in optimizing production workflows and enabling data-driven decision-making. The study's findings provide global approaches for firms looking to embark on a digital transformation journey by implementing PLM technologies. This research contributes to a better understanding of how PLM can be effectively used to foster innovation and competitiveness in the changing landscape of modern industry by shining light on best practices, critical considerations, and potential obstacles.Keywords: product lifecyle management (PLM), industry 4.0, traceability, digital transformation, solution, innovation, 3D experience, SOLIDWORKS
Procedia PDF Downloads 733730 Model of Production and Marketing Strategies in Alignment with Business Strategy using QFD Approach
Authors: Hamed Saremi, Suzan Taghavy, Shahla Saremi
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In today's competitive world, organizations are expected to surpass the competitors and benefit from the resources and benefits. Therefore, organizations need to improve the current performance is felt more than ever that this requires to identify organizational optimal strategies, and consider all strategies simultaneously. In this study, to enhance competitive advantage and according to customer requirements, alignment between business, production and marketing strategies, House of Quality (QFD) approach has been used and zero-one linear programming model has been studied. First, the alignment between production and marketing strategies with business strategy, independent weights of these strategies is calculated. Then with using QFD approach the aligned weights of optimal strategies in each production and marketing field will be obtained and finally the aligned marketing strategies selection with the purpose of allocating budget and specialist human resource to marketing functions will be done that lead to increasing competitive advantage and benefit.Keywords: strategy alignment, house of quality deployment, production strategy, marketing strategy, business strategy
Procedia PDF Downloads 4353729 Application of De Novo Programming Approach for Optimizing the Business Process
Authors: Z. Babic, I. Veza, A. Balic, M. Crnjac
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The linear programming model is sometimes difficult to apply in real business situations due to its assumption of proportionality. This paper shows an example of how to use De Novo programming approach instead of linear programming. In the De Novo programming, resources are not fixed like in linear programming but resource quantities depend only on available budget. Budget is a new, important element of the De Novo approach. Two different production situations are presented: increasing costs and quantity discounts of raw materials. The focus of this paper is on advantages of the De Novo approach in the optimization of production plan for production company which produces souvenirs made from famous stone from the island of Brac, one of the greatest islands from Croatia.Keywords: business process, De Novo programming, optimizing, production
Procedia PDF Downloads 222