Search results for: business process automation

Authors: Apichit Svang-Ariyaskul, Thanapat Chaireongsirikul, Pawit Tangviroon

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Distillation consumes enormous quantity of energy. This work proposed a process to recover the energy from exit streams during the distillation process of three consecutive columns. There are several novel techniques to recover the heat with the distillation system; however, a complex control system is required. This work proposed a simpler technique by exchanging the heat between streams without interrupting the internal distillation process that might cause a serious control problem. The proposed process is executed by using heat exchanger network with pinch analysis to maximize the process heat recovery. The test model is the distillation of butane, pentane, hexane, and heptanes, which is a common mixture in the petroleum refinery. This proposed process saved the energy consumption for hot and cold utilities of 29 and 27%, which is considered significant. Therefore, the recovery of heat from exit streams from distillation process is proved to be effective for energy saving.

Keywords: distillation, heat exchanger, network pinch analysis, chemical engineering

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Authors: Toby Gibbs, Suwaree Yordchim

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This research analyzes factors affecting the success of Litecoin Value within Thailand and develops a guideline for self-reliance for effective business implementation. Samples in this study included 119 people through surveys. The results revealed four main factors affecting the success as follows: 1) Future Career training should be pursued in applied Litecoin development. 2) Didn't grasp the concept of a digital currency or see the benefit of a digital currency. 3) There is a great need to educate the next generation of learners on the benefits of Litecoin within the community. 4) A great majority didn't know what Litecoin was. The guideline for self-reliance planning consisted of 4 aspects: 1) Development planning: by arranging meet up groups to conduct further education on Litecoin and share solutions on adoption into every day usage. Local communities need to develop awareness of the usefulness of Litecoin and share the value of Litecoin among friends and family. 2) Computer Science and Business Management staff should develop skills to expand on the benefits of Litecoin within their departments. 3) Further research should be pursued on how Litecoin Value can improve business and tourism within Thailand. 4) Local communities should focus on developing Litecoin awareness by encouraging street vendors to accept Litecoin as another form of payment for services rendered.

Keywords: bitcoin, cryptocurrency, decentralized, business implementation

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Authors: Nasir Khalid

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In Malaysia, higher education is big business. There are many companies that are willing if not already to invest heavily in higher education for students that aspire to pursue their degree in diploma, undergraduate as well as graduate studies. These companies sometimes even have a joint venture twinning program with other already established universities in and across Europe, Australia, the United States, and Canada. Some of these investments have been successful whereas others find themselves limited by the obstacle of receiving new students. Recently, the Malaysian Ministry of Higher Education has stopped issuing licenses to set up private institutions of higher education. This paper will thus examine the factors affecting the success of private higher education businesses in Malaysia. The samples will consist of thirty private institutions [N=30]. Among the factors that will be mentioned in the literature are academic programs, student quality and achievement, student employability, alumni satisfaction, student enrolment, institutional environment, lecturer-quality and effectiveness of supporting staff. A questionnaire was developed and analyzed using statistical analysis. The result of this study found that the top three factors affecting the success of private higher education businesses in Malaysia are student enrolment, institutional environment and the academic programs offered.

Keywords: higher education business, successful business factors, private institutions, business in Malaysia

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Authors: Julio Macedo

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Several methodologies are now available to conceive the improvements of a process so that it becomes competitive as for example total quality, process reengineering, six sigma, define measure analysis improvement control method. These improvements are of different nature and can be external to the process represented by an optimization model or a discrete simulation model. In addition, the process stakeholders are several and have different desired performances for the process. Hence, the methodologies above do not have a tool to aid in the conception of the required improvements. In order to fill this void we suggest the use of intelligent reference models. A reference model is a set of qualitative differential equations and an objective function that minimizes the gap between the current and the desired performance indexes of the process. The reference models are intelligent so when they receive the current state of the problematic process and the desired performance indexes they generate the required improvements for the problematic process. The reference models are fuzzy cognitive maps added with an objective function and trained using the improvements implemented by the high performance firms. Experiments done in a set of students show the reference models allow them to conceive more improvements than students that do not use these models.

Keywords: continuous improvement, fuzzy cognitive maps, process competitiveness, qualitative simulation, system dynamics

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Authors: A. Hayrapetyan, A. Simon, P. Marques, G. Renart

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Business survival is a question of greatest interest for any economy. Firm characteristics that can explain or predict performance and, ultimately, business survival become of the greatest significance, as the sustainable longevity of any business can mean health for the future of the country. Family Firms (FFs) are one of the most ubiquitous forms of business worldwide, as more than half of European firms (60%) are considered as family firms. Therefore, the inherent characteristics of FFs are one of the possible explanatory variables for firm survival because FFs have strategic goals that differentiate them from other types of businesses. Although there is literature on the performance of FFs across generations, there are fewer studies on the factors that impact the survival of family and non-family FFs, as there is a lack of data on failed firms. To address this gap, this paper explores the differential survival of family firms versus non-family firms with a representative sample of companies of the region of Catalonia (Northeast of Spain) that were adhoc classified as family or nonfamily firms, as well as classified as failed or surviving, since no census data for family firms or for failed firms is available in Spain. By using the COX regression model on a representative sample of 629 family and non-family firms, this study investigates to what extent financial ratios, such as Liquidity, Solvency Rate can impact business survival, taking into consideration the socioemotional side of family firms, as well as revealing the differences between family and non-family firms. The findings show that the liquidity rate is significant for non-family firm survival, whereas not for family firms. On the other hand, FFs can benefit while having a higher solvency rate. Ultimately, this paper discovers that FFs increase their chances of survival when they are small, as the growth in size starts negatively impacting the socioemotional objectives of the firm. This study proves the existence of significant differences between family and non-family firms’ survival during economic crises, suggesting that the prioritization of emotional wealth creates distinct conditions for both types of firms.

Keywords: COX regression, economy crises, family firm, non-family firm, survival

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Authors: Sarah Smail

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Algeria has been subject to countless conquests and invasions that resulted in having a diverse linguistic repertoire. The sociolinguistic situation of the country made linguistic landscape analysis pertinent. This in fact, has led to the growth of diverse linguistic landscape studies that mainly focused on identifying the sociolinguistic situation of the country through shop names analysis. The present research adds to the existing literature by offering another perspective to the analysis of signs by combining the physical and digital semiotic landscape. The powerful oil, gas and agri-food industries in Algeria make it interesting to focus on the commodification of natural resources for the sake of identifying the language and semiotic resources deployed in the Algerian public scene in addition to the identification of the visibility of linguistic inequalities and minorities in the business domain. The study discusses the semiotic landscape of three trade cities: Bejaia, Setif and Hassi-Messaoud. In addition to interviews conducted with business owners and graphic designers and questionnaires with business employees. Withal, the study relies on Gorter’s multilingual inequalities in public space (MIPS) model (2021) and Irvine and Gal’s language ideology and linguistic differentiation (2000). The preliminary results demonstrate the sociolinguistic injustice existing in the business domain, e.g., the exclusion of the official languages, the dominance of foreign languages, and the excessive use of the roman script.

Keywords: semiotic landscaping, digital scapes, language commodification, linguistic inequalities, business signage

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Authors: Marina Paula Carreira Rolim

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In order to have ELLs take responsibility for their own learning, it is important that they develop skills to work their studies strategically. The less they rely on the instructor as the content provider, the more they become active learners and have a higher sense of self-regulation and confidence in the learning process. This e-poster proposes a new teacher-student relationship that encourages learners to reflect, think critically, and act upon their realities. It also suggests the implementation of different autonomy-supportive teaching tools, such as portfolios, written journals, problem-solving activities, and strategy-based discussions in class. These teaching tools enable ELLs to develop awareness of learning strategies, learning styles, study plans, and available learning resources as means to foster their creative power of learning outside of classroom. In the role of a learning advisor, the teacher is no longer the content provider but a facilitator that introduces skills such as ‘elaborating’, ‘planning’, ‘monitoring’, and ‘evaluating’. The teacher acts as an educator and promotes the use of lifelong metacognitive skills to develop learner autonomy in the ESL/EFL context.

Keywords: autonomy, metacognitive skills, self-regulation, learning strategies, reflection

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Authors: Christoph Köster

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Supplier selection is one of the key challenges in supply chain management and can be considered a multi-criteria decision-making (MCDM) problem. In the 1960s, it evolved from considering only economic criteria, such as price, quality, and performance, to including environmental and social criteria nowadays. Although receiving considerable attention from scholars and practitioners over the past decades, existing research has not considered governance criteria so far. This is, however, surprising, as ESG (environmental, social, and governance) criteria have gained considerable attention. In order to complement ESG criteria in the supplier selection process, this study investigates German DAX and MDAX companies and evaluates the impact of governance criteria along their supplier selection process. Moreover, it proposes a set of criteria for the respective process steps. Specifically, eleven criteria for the first process step and five criteria for the second process step are identified. This paper contributes to a better understanding of the supplier selection process by elucidating the relevance of governance criteria in the supplier selection process and providing a set of empirically developed governance criteria. These results can be applied by practitioners to complement the criteria set in the supplier selection process and thus balance economic, environmental, social, and governance targets.

Keywords: ESG, governance, sustainable supplier selection, sustainability

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Authors: Hanna Zietara

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Gastronomy is one of the oldest forms of commercial activity. It is currently one of the most popular and still dynamically developing branches of business. Socio-economic changes, its widespread occurrence, new techniques, or culinary styles affect the almost unlimited possibilities of its development. Importantly, regardless of the form of business adopted, food service is strongly related to logistics processes, and areas of food service that are closely linked to logistics are of strategic importance. Any inefficiency in logistics processes results in reduced chances for success and achieving competitive advantage by companies belonging to the catering industry. The aim of the paper is to identify the areas of logistic support occurring in the catering business, affecting the scope of the logistic processes implemented. The aim of the paper is realized through a plural homogeneous approach, based on: direct observation, text analysis of current documents, in-depth free targeted interviews.

Keywords: gastronomy, competitive advantage, logistics, logistics support

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Authors: Fatemeh Jalalvand

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The critical human rights problems such as extreme poverty, hunger, inequalities and gender discrimination need to be addressed by powerful and influential actors in the world. In today’s globalization, corporations have become one of the potent agents in the society. They are capable of generating economic growth, reducing poverty, and increasing the well-being of individuals, thereby contributing to the betterment of a broad spectrum of human rights. However, the discussion on how business can contribute to human rights has primarily focused on not violating them (reactive approach) rather than improving the conditions and solving the problems of human rights (proactive approach). In particular, the role of corporate social responsibility (CSR) in bringing proactivity of business in human rights has gained less attention. This paper develops a conceptual framework to examine the role of different categories of CSR, including discretionary, ethical, legal, instrumental and political CSR in encouraging the proactive contribution of corporations to the betterment of human rights. The five propositions, related to the conceptual framework, outline the relationships between five categories of CSR and proactivity of corporations in human rights. The findings indicate that discretionary CSR with voluntary nature might not be able to motivate any contribution of business in human rights. Moreover, ethical CSR and legal CSR might lead to reactive strategies of business toward human rights. Meanwhile, the economic incentives behind the notion of instrumental CSR could result in partial proactive engagement of corporations in human rights. Finally, the internal motives as profit and power besides the external duties might lead to the highest level of proactivity of corporations in human rights under the context of political CSR. The model developed offers a map for business to adopt proactive human rights strategies more systematically maintaining key profit-drivers like power and profit. In sum, instrumental and political categories of CSR might lead corporations to improve the conditions of human rights proactively.

Keywords: CSR, human rights, proactive approach, reactive approach

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Authors: Mairaj Salim, Asma Zaheer

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Oman has accomplished as much or more than its fellow Gulf monarchies, despite starting from scratch considerably later, having less oil income to utilize, dealing with a larger and more rugged geography, and resolving a bitter civil war along the way. Of course, Oman's progress in the past 30-plus years has not been without problems and missteps, but the balance is squarely on the positive side of the ledger. Oil has been the driving force of the Omani economy since Oman began commercial production in 1967. The oil industry supports the country’s high standard of living and is primarily responsible for its modern and expansive infrastructure, including electrical utilities, telephone services, roads, public education and medical services. In addition to extensive oil reserves, Oman also has substantial natural gas reserves, which are expected to play a leading role in the Omani economy in the Twenty-first Century. To reduce the country’s dependence on oil revenues, the government is restructuring the economy by directing investment to non-oil activities. Since the 21st century IT has changed the performing tasks. To manage the affairs for the benefits of organizations and economy, the Omani government has adopted E-Business technologies for the development. E-Business is important because it allows • Transformation of old economy relationships (vertical/linear relationships) to new economy relationships characterized by end-to-end relationship management solutions (integrated or extended relationships) • Facilitation and organization of networks, small firms depend on ‘partner’ firms for supplies and product distribution to meet customer demands • SMEs to outsource back-end process or cost centers enabling the SME to focus on their core competence • ICT to connect, manage and integrate processes internally and externally • SMEs to join networks and enter new markets, through shortened supply chains to increase market share, customers and suppliers • SMEs to take up the benefits of e-business to reduce costs, increase customer satisfaction, improve client referral and attract quality partners • New business models of collaboration for SMEs to increase their skill base • SMEs to enter virtual trading arena and increase their market reach A national strategy for the advancement of information and communication technology (ICT) has been worked out, mainly to introduce e-government, e-commerce, and a digital society. An information technology complex KOM (Knowledge Oasis Muscat) had been established, consisting of section for information technology, incubator services, a shopping center of technology software and hardware, ICT colleges, E-Government services and other relevant services. So, all these efforts play a vital role in the development of Oman economy.

Keywords: ICT, ITA, CRM, SCM, ERP, KOM, SMEs, e-commerce and e-business

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Authors: Obasan Kehinde

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Social Infrastructure such as transport, telecommunications, energy, water, health, housing, and educational facilities have become part and parcel of human existence and have since been seen as prerequisite for the development of any economy. It is difficult to imagine a modern world without these facilities. Using a survey research design, data was gathered through a multi-stage sampling and a random sampling method from a total of 117 respondents, the study investigates the role of social infrastructure on the performance of entrepreneurs drawn from 10 Local Government Areas across two carefully selected states in the South-West, Nigeria. The data was analyzed using a descriptive statistical analysis and a t-test. The result shows that the impact of social infrastructure on entrepreneur performance is significant at 0.00 level of significant. Thus, this study recommends that entrepreneurs should take note of the social infrastructures available in the environment for the purpose of citing business in order to reduce the cost of production and other business costs.

Keywords: social infrastructure, entrepreneur performance, entrepreneurship, business

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Authors: Mohamed Haffar, Loredana Perez

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Significant attention has recently been paid to the cross-cultural negotiations due to the growth of international businesses. Despite the substantial body of literature examining the influence of national culture (NC) dimensions on negotiations, there is a lack of studies comparing the influence of NC in Latin America with a Western European countries, In particular, an extensive review of the literature revealed that a contribution to knowledge would be derived from the comparison of the influence of NC dimensions on negotiations in UK and Venezuela. The primary data was collected through qualitative interviews, to obtain an insight about the perceptions and beliefs of Venezuelan and British business managers about their negotiating styles. The findings of this study indicated that NC has a great influence on the negotiating styles. In particular, Venezuelan and British managers demonstrated to have opposed negotiating styles, affecting the way they communicate, approach people and their willingness to take risks.

Keywords: national culture, negotiation, international business, Venezula, UK

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Authors: Nadezda Kobzeva

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Under the current trend of globalization, economic and technological dynamics information and the means by which it is delivered and renewed becomes out-of-date rapidly. Thus, educational systems as well as higher education are being seriously tested. New strategies’ developing that is supported by Information and Communication Technology is urgently required. The essential educators’ mission is to meet the demands of the future by preparing our young learners with proper knowledge, skills and innovation capabilities necessary to advance our competitiveness globally. In response to the modern society and future demands, the oldest Siberian Tomsk Polytechnic University has wisely proposed several initiatives to promote the integration of Information and Communication Technology (ICT) in education, and increase the competitiveness of graduates by emphasizing inquiry-based learning, higher order thinking and problem solving. This paper gives a brief overview of how Web Quest as ICT device is being used for language teaching and describes its use advantages for teaching English as a Foreign Language (EFL), in particular business writing skills. This study proposes to use Web Quest to promote higher order thinking and ICT integration in the process of engineers training in Tomsk Polytechnic University, Russia.

Keywords: web quest, web quest in pedagogy, resume (CVs) and cover letter writing skills, ICT integration

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

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

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

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Authors: Anne Sørebø

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The present study was designed to test how fulfilment of three basic psychological needs influence students development of perceived usefulness (PU) and ease of use (EOU) in connection with use of a spreadsheet. Both PU and EOU are assumed to be critical for development of students' willingness to utilize spreadsheet in future work within business administration. A questionnaire was completed by 196 business students in Norway. We found that satisfying the need for competence and autonomy is most critical for willingness to utilize the software package. The results also indicate that satisfying the need for relatedness, surprisingly, has no influence on students’ willingness to utilize the software package. A key implication of the present research is that teachers mainly should focus on fulfilling students need for competence and self-determination when the purpose is to motivate them to utilize new software. That students’ should develop their own competence when using a new technology is somewhat obvious, but that the feeling of being self-determined needs to be a complementary element in this connection is not necessary seen as obvious.

Keywords: spreadsheet, business students, technology acceptance, basic psychological needs

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Authors: Ivan Sosa Gomez

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Digitalization has impacted the entire insurance value chain, and the growing movement towards P2P platforms and the collaborative economy is also beginning to have a significant impact. P2P insurance is defined as innovation, enabling policyholders to pool their capital, self-organize, and self-manage their own insurance. In this context, new InsurTech start-ups are emerging as peer-to-peer (P2P) providers, based on a model that differs from traditional insurance. As a result, although P2P platforms do not change the fundamental basis of insurance, they do enable potentially more efficient business models to be established in terms of ensuring the coverage of risk. It is therefore relevant to determine whether p2p innovation can have substantial effects on the future of the insurance sector. For this purpose, it is considered necessary to develop P2P innovation from a business perspective, as well as to build a comparison between a traditional model and a P2P model from an actuarial perspective. Objectives: The objectives are (1) to represent P2P innovation in the business model compared to the traditional insurance model and (2) to establish a comparison between a traditional model and a P2P model from an actuarial perspective. Methodology: The research design is defined as action research in terms of understanding and solving the problems of a collectivity linked to an environment, applying theory and best practices according to the approach. For this purpose, the study is carried out through the participatory variant, which involves the collaboration of the participants, given that in this design, participants are considered experts. For this purpose, prolonged immersion in the field is carried out as the main instrument for data collection. Finally, an actuarial model is developed relating to the calculation of premiums that allows for the establishment of projections of future scenarios and the generation of conclusions between the two models. Main Contributions: From an actuarial and business perspective, we aim to contribute by developing a comparison of the two models in the coverage of risk in order to determine whether P2P innovation can have substantial effects on the future of the insurance sector.

Keywords: Insurtech, innovation, business model, P2P, insurance

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Authors: Aniruddha Joshi

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This paper discusses a simulation study of automated sand casting production system. Therefore, the first aims of this study is development of automated sand casting process model and analyze this model with a simulation software Witness. Production methodology aims to improve overall productivity through elimination of wastes and that leads to improve quality. Integration of automation with Simulation is beneficial to identify the obstacles in implementation and to take appropriate options to implement successfully. For this integration, there are different Simulation Software’s. To study this integration, with the help of “WITNESS” Simulation Software the model is created. This model is based on literature review. The input parameters are Setup Time, Number of machines, cycle time and output parameter is number of castings, avg, and time and percentage usage of machines. Obtained results are used for Statistical Analysis. This analysis concludes the optimal solution to get maximum output.

Keywords: automated sand casting production system, simulation, WITNESS software, performance evaluation

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Authors: Jirayut Phetchuen, Jongkol Srithorn

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The study examines the unloading and repacking process of Read With Me Group Company Limited. The research aims to improve the old work process and build a new efficient process with the Lean Technique and new machines for faster delivery without increasing the number of employees. Currently, two employees work based on five days on and off. However, workplace injuries have delayed the delivery time, especially the delivery to the neighboring countries. After the process improvement, the working space increased by 25%, the Process Lead Time decreased by 40%, the work efficiency increased by 175.82%, and the work injuries rate was reduced to zero.

Keywords: lean technique, plant layout design, U-shaped disassembly line, value stream mapping

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Authors: Jiri Palecek, Radmila Hajkova, Alena Oulehlova, Hana Malachova

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The increase of emergency incidents and crisis situations requires proactive crisis management of authorities and for its solution. Application business continuity management systems help the crisis management authorities quickly and responsibly react to events and to plan more effectively and efficiently powers and resources. The main goal of this article is describing Military Continuity Management System (MCMS) based on the principles of Business Continuity Management System (BCMS) for dealing with floods in the territory of the selected municipalities. There are explained steps of loading, running and evaluating activities in the software application MCMS. Software MCMS provides complete control over the tasks, contribute a comprehensive and responsible approach solutions to solution floods in the municipality.

Keywords: business continuity management, floods plan, flood activity, level of flood activity

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Authors: U. Borasi, Amit Kr. Jain, Rakesh, Piyush Jain

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Data collection, data preparation, model training, model evaluation, and deployment are all processes in a typical machine learning workflow. Training data needs to be gathered and organised. This often entails collecting a sizable dataset and cleaning it to remove or correct any inaccurate or missing information. Preparing the data for use in the machine learning model requires pre-processing it after it has been acquired. This often entails actions like scaling or normalising the data, handling outliers, selecting appropriate features, reducing dimensionality, etc. This pre-processed data is then used to train a model on some machine learning algorithm. After the model has been trained, it needs to be assessed by determining metrics like accuracy, precision, and recall, utilising a test dataset. Every time a new model is built, both data pre-processing and model training—two crucial processes in the Machine learning (ML) workflow—must be carried out. Thus, there are various Machine Learning algorithms that can be employed for every single approach to data pre-processing, generating a large set of combinations to choose from. Example: for every method to handle missing values (dropping records, replacing with mean, etc.), for every scaling technique, and for every combination of features selected, a different algorithm can be used. As a result, in order to get the optimum outcomes, these tasks are frequently repeated in different combinations. This paper suggests a simple architecture for organizing this largely produced “combination set of pre-processing steps and algorithms” into an automated workflow which simplifies the task of carrying out all possibilities.

Keywords: machine learning, automation, AUTOML, architecture, operator pool, configuration, scheduler

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Authors: Emmanuel D. Buedi, K. O. Boateng, Griffith S. Klogo

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Electrical distribution networks are prone to power quality disturbances originating from the complexity of the distribution network, mode of distribution (overhead or underground) and types of loads used by customers. Data on the types of disturbances present and frequency of occurrence is needed for economic evaluation and hence finding solution to the problem. Utility companies have resorted to using secondary power quality devices such as smart meters to help gather the required data. Even though this approach is easier to adopt, data gathered from these devices may not serve the required purpose, since the installation of these devices in the electrical network usually does not conform to available PQM placement methods. This paper presents a design of a PQM that is capable of integrating into an existing DAS infrastructure to take advantage of available placement methodologies. The monitoring component of the design is implemented and installed to monitor an existing LV network. Data from the monitor is analyzed and presented. A portion of the LV network of the Electricity Company of Ghana is modeled in MATLAB-Simulink and analyzed under various earth fault conditions. The results presented show the ability of the PQM to detect and analyze PQ disturbance such as voltage sag and overvoltage. By adopting a placement methodology and installing these nodes, utilities are assured of accurate and reliable information with respect to the quality of power delivered to consumers.

Keywords: power quality, remote monitoring, distributed automation system, economic evaluation, LV network

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Authors: Astha Sinha, Anjali Kanagali

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India has been tackling with less than sophisticated legislations when it comes to recovery of debt and bankruptcy situations for a while now. There were multiple overlapping laws and adjudication forums dealing with financial failures and insolvency of companies/individuals in India without really aiding the timely recover of defaulted assets. It remained dicey for businesses to invest in India since there was a lack of legal and institutional machinery for dealing with debt defaults as per the global standards. After much deliberation, the Indian Draft Insolvency code received the presidential assent on May 28, 2016 bringing the Bankruptcy and Insolvency Code, 2016 into existence. The Code is expected to bring about great progress for the country and specifically has the two standout developments. The first is that it calls for resolution of corporate insolvency within a period of 180 days extendable by 90 days hence bringing about security in the minds of investors. Second is that it calls for the creation of a new class of insolvency professionals whose primary function shall be helping sick companies and banks with their takeovers, provides for setting up an Insolvency and Bankruptcy Board to regulate the same and provides for a two stage process of liquidation. The Code is estimated to help India move up its ranking on the World Bank’s ease of doing business index. It is currently ranked at the 130th position lower than some of the sub-saharan African countries. Besides this, however, there are various areas in which the Code falls short such as lack of provisions for aiding the issue of cross-border insolvency, impact on Medium and Small Enterprises in India etc. This paper aims to analyze the provisions of the new Bankruptcy and Insolvency Code, 2016 and its contribution in making India a more desirable location for doing business. It shall also emphasize on the cross-border insolvency issues, practices followed by other countries to resolve the same and the way forward for India to strengthen its Bankruptcy and Insolvency framework.

Keywords: bankruptcy and insolvency code 2016, cross-border insolvency provisions in the 2016 code, Ease of doing business and bankruptcy code, highlights of the new Indian bankruptcy code 2016

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Authors: Mette Dalgaard Nielsen

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The paper serves the purpose of providing an eco-systemic typology of fashion resale business models in Denmark while pointing to possibilities to learn from its wisdom during a time when a fundamental break with the dominant linear fashion paradigm has become inevitable. As we transgress planetary boundaries and can no longer continue the unsustainable path of over-exploiting the Earth’s resources, the global fashion industry faces a tremendous need for change. One of the preferred answers to the fashion industry’s sustainability crises lies in the circular economy, which aims to maximize the utilization of resources by keeping garments in use for longer. Thus, in the context of fashion, resale business models that allow pre-owned garments to change hands with the purpose of being reused in continuous cycles are considered to be among the most efficient forms of circularity. Methodologies: The paper is based on empirical data from an ongoing project and a series of qualitative pilot studies that have been conducted on the Danish resale market over a 2-year time period from Fall 2021 to Fall 2023. The methodological framework is comprised of (n) ethnography and fieldwork in selected resale environments, as well as semi-structured interviews and a workshop with eight business partners from the Danish fashion and textiles industry. By focusing on the real-world circulation of pre-owned garments, which is enabled by the identified resale business models, the research lets go of simplistic hypotheses to the benefit of dynamic, vibrant and non-linear processes. As such, the paper contributes to the emerging research field of circular economy and fashion, which finds itself in a critical need to move from non-verified concepts and theories to empirical evidence. Findings: Based on the empirical data and anchored in the business partners, the paper analyses and presents five distinct resale business models with different product, service and design characteristics. These are 1) branded resale, 2) trade-in resale, 3) peer-2-peer resale, 4) resale boutiques and consignment shops and 5) resale shelf/square meter stores and flea markets. Together, the five business models represent a plurality of resale-promoting business model design elements that have been found to contribute to the circulation of pre-owned garments in various ways for different garments, users and businesses in Denmark. Hence, the provided typology points to the necessity of prioritizing several rather than single resale business model designs, services and initiatives for the resale market to help reconfigure the linear fashion model and create a circular-ish future. Conclusions: The article represents a twofold research ambition by 1) presenting an original, up-to-date eco-systemic typology of resale business models in Denmark and 2) using the typology and its eco-systemic traits as a tool to understand different business model design elements and possibilities to help fashion grow out of its linear growth model. By basing the typology on eco-systemic mechanisms and actual exemplars of resale business models, it becomes possible to envision the contours of a genuine alternative to business as usual that ultimately helps bend the linear fashion model towards circularity.

Keywords: circular business models, circular economy, fashion, resale, strategic design, sustainability

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Authors: Festus M. Epetimehin

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Resources are essential materials required for production of goods and services. Effective allocation of these resources can engender the success of current business activities and its sustainability for future generation. The study examined effect of resource allocation of small agribusinesses on entrepreneurship development in Southwest Nigeria. Sample size of 385 was determined using Cochran’s formula. 350 valid copies of questionnaire were used in the analysis. In order to achieve the objective, research design (descriptive and cross sectional designs) was used to gather data for the study through the administration of questionnaire to respondents. Both descriptive and inferential statistics were used to investigate the objective of the study. The result obtained indicated that resource allocation by small agribusinesses had a substantial positive effect on entrepreneurship development with the p-value of (0.0000) which was less than the 5.0% critical value with a positive regression coefficient of 0.53. The implication of this is that the ability of the entrepreneurs to deploy their resources efficiently through adequate realization of better gross margin could enhance business activities and development. The study recommends that business owners still need some level of serious training and exposure on how to manage modern small agribusiness resources to enhance business performance. The intervention of Agricultural Development Programme (ADP) and other Agricultural institutions are needed in this regard.

Keywords: resource, resource allocation, small businesses, agriculture, entrepreneurship development

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Authors: Supunmali Ahangama, Danny Chiang Choon Poo

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Health analytics (HA) is used in healthcare systems for effective decision-making, management, and planning of healthcare and related activities. However, user resistance, the unique position of medical data content, and structure (including heterogeneous and unstructured data) and impromptu HA projects have held up the progress in HA applications. Notably, the accuracy of outcomes depends on the skills and the domain knowledge of the data analyst working on the healthcare data. The success of HA depends on having a sound process model, effective project management and availability of supporting tools. Thus, to overcome these challenges through an effective process model, we propose an HA process model with features from the rational unified process (RUP) model and agile methodology.

Keywords: agile methodology, health analytics, unified process model, UML

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Authors: Muhammad Shujaat Saleem, Imamuddin

Abstract:

In reply to the argument made by the non-believers of Makkah “Sale is similar to riba”, Almighty Allah ordered “Sale is permissible while riba is impermissible”. The main intent of the study was to clarify the fallacy prevailing among the Muslims that in practical terms the product of Murabaha which is being offered by the Islamic banks is similar to that of conventional interest based business loan. However, specific objective was to ascertain the degree of financial efficiency on the basis of fund/loan utilization for intended purpose of Murabaha financing vis-à-vis conventional interest based business loan. The study employed survey strategy to collect primary data through structured close ended questionnaires from the sample of 98 Murabaha officers and 178 loan officers out of the whole population of 5 Islamic and 10 conventional banks respectively. Quantitative and qualitative techniques were used to analyze the data and the same is tabulated by use of frequency tables. The study found that the financial efficiency of Murabaha financing is more than that of conventional interest based business loan by 28% as Murabaha funds of Islamic banks are utilized for its intended purpose to the extent of 97% on average, compared to 69% of business loan offered by conventional banks.

Keywords: financial efficiency, murabaha funds, loan amount, intended purpose

Procedia PDF Downloads 328

Authors: Marie Sams, Kate Barnett-Richards, Jacqui Speculand, Gemma Tombs

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Business education in the United Kingdom has seen a number of improvements over the years in moving from delivering traditional chalk and talk lectures to using digital technologies and inviting guest lectures from industry to deliver sessions for students. Engaging topical industry talks to enhance course delivery is generally seen as a positive aspect of enhancing curriculum, however it is acknowledged that perhaps there are better ways in which industry can contribute to the quality of business programmes. Additionally, there is a consensus amongst UK industry managers that a bigger involvement in designing and inputting into business curriculum will have a greater impact on the quality of business ready graduates. Funded by the Disruptive Media Learning Lab at Coventry University in the UK, a project (SOPI - Student Online Projects with Industry) was initiated to enable students to work in project teams to respond and engage with real problems and challenges faced by five managers in various industries including retail, events and manufacturing. Over a semester, approximately 200 students were given the opportunity to develop their management, facilitation, problem solving and reflective skills, whilst having some exposure to real challenges in industry with a focus on supply chain and project management. Face to face seminars were re-designed to enable students to work on live issues in a competitive environment, and were guided to consider the theoretical aspects of their module delivery to underpin the solutions that they were generating. Dialogue between student groups and managers took place using Google+ community; an online social media tool which enables private discussions to take place and can be accessed on mobile devices. Results of the project will be shared in how this development has added value to students experience and understanding of the two subject areas. Student reflections will be analysed and evaluated to assess how the project has contributed to their perception of how the theoretical nature of these two business subjects are applied in practical situations.

Keywords: business, education, industry, projects

Procedia PDF Downloads 173

Authors: Burak Unveren, Ecem Uygun, Özdemi̇r Teke

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A large body of literature documents how the Ottoman Empire's economic decline in relation to Western Europe was exacerbated by the unequal legal treatment of its subjects based on creed. Motivated by this debate, we empirically explore whether property taxes collected from businesses in Istanbul discriminated against or favored non-Muslims after the cadastral survey of the capital in 1875. The survey was conducted to determine the property taxes. And the process was potentially susceptible to the biased views of the surveyors who calculated the taxes payable via their subjective appraisals of all real properties. According to our results, in contrast to widely held beliefs regarding 19th-century Istanbul, the number of Muslim shop owners is higher than that of non-Muslims. Moreover, we find evidence for taxes collected from non-Muslim shop and store owners to be higher compared to Muslims, even after controlling for all physical features (e.g., size, location, etc.). These results directly pertain to the fiscal capacity of the Ottoman state and its economic divergence from Europe in the 19th century. Surprisingly, the data also indicates no statistically different tax differentials between male and female property owners.

Keywords: economic history, taxation, small business, discrimination

Procedia PDF Downloads 56

Authors: Panisa Panyalert

Abstract:

This research aims to study the difference between Thailand and China in using English language in the homestay business, and also promoting using English language in the Thai community for developing employees in the tourism business. Then, the two provinces which are Samut Songkram province, Thailand and Yangzhou province, China where English is not the official language can be occurred more problems and difficulties in the communication to foreign tourists. The study uses the questionnaire for collecting the data by distributing the questionnaire to the homestay’s staff both in Samut Songkram province, Thailand and Yangzhou province, China. The sample group is 100 homestays for each province. The method of participant as observer role is required to play during visiting each homestay. Due to the comparative of the research between Samut Songkram and Yangzhou homestays, there are two hypotheses, hypothesis one: there will be relationships between English using and the profit of a homestay, probability because if the homestay staff can speak English, there will be more travelers, especially foreigners come for staying, and hypothesis two: managers in Thailand may know more English than the Chinese homestay staff. The questionnaire is separated into three parts to answer the two hypotheses. The first part is about the general information of the informant, the second part is mainly concerned with the homestay business characteristics, and the third part is English language using. As a result, the research is clearly answered the second hypothesis which is Thai homestay is using more English language than Chinese homestay.

Keywords: English language, guesthouse, homestay, using English

Procedia PDF Downloads 244