Search results for: market and product values

Authors: Orkide Donma, Mustafa M. Donma

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Chronologic age (CA) of individuals is closely related to obesity and generally affects the magnitude of obesity parameters. On the other hand, close association between basal metabolic rate (BMR) and metabolic age (MA) is also a matter of concern. It is suggested that MA higher than CA is the indicator of the need to improve the metabolic rate. In this study, the aim was to assess some commonly used obesity parameters, such as obesity degree, visceral adiposity, BMR, BMR-to-weight ratio, in several groups with varying differences between MA and CA values. The study comprises adults, whose ages vary between 18 and 79 years. Four groups were constituted. Group 1, 2, 3 and 4 were composed of 55, 33, 76 and 47 adults, respectively. The individuals exhibiting -1, 0 and +1 for their MA-CA values were involved in Group 1, which was considered as the control group. Those, whose MA-CA values varying between -5 and -10 participated in Group 2. Those, whose MAs above their real ages were divided into two groups [Group 3 (MA-CA; from +5 to + 10) and Group 4 (MA-CA; from +11 to + 12)]. Body mass index (BMI) values were calculated. TANITA body composition monitor using bioelectrical impedance analysis technology was used to obtain values for obesity degree, visceral adiposity, BMR and BMR-to-weight ratio. The compiled data were evaluated statistically using a statistical package program; SPSS. Mean ± SD values were determined. Correlation analyses were performed. The statistical significance degree was accepted as p < 0.05. The increase in BMR was positively correlated with obesity degree. MAs and CAs of the groups were 39.9 ± 16.8 vs 39.9 ± 16.7 years for Group 1, 45.0 ± 15.3 vs 51.4 ± 15.7 years for Group 2, 47.2 ± 12.7 vs 40.0 ± 12.7 years for Group 3, and 53.6 ± 14.8 vs 42 ± 14.8 years for Group 4. BMI values of the groups were 24.3 ± 3.6 kg/m², 23.2 ± 1.7 kg/m², 30.3 ± 3.8 kg/m², and 40.1 ± 5.1 kg/m² for Group 1, 2, 3 and 4, respectively. Values obtained for BMR were 1599 ± 328 kcal in Group 1, 1463 ± 198 kcal in Group 2, 1652 ± 350 kcal in Group 3, and 1890 ± 360 kcal in Group 4. A correlation was observed between BMR and MA-CA values in Group 1. No correlation was detected in other groups. On the other hand, statistically significant correlations between MA-CA values and obesity degree, BMI as well as BMR/weight were found in Group 3 and in Group 4. It was concluded that upon consideration of these findings in terms of MA-CA values, BMR-to-weight ratio was found to be much more useful indicator of the severe increase in obesity development than BMR. Also, the lack of associations between MA and BMR as well as BMR-to-weight ratio emphasize the importance of consideration of MA-CA values rather than MA.

Keywords: basal metabolic rate, basal metabolic rate-to-weight-ratio, chronologic age, metabolic age, obesity degree

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Authors: A. Almubrad, R. Clouse, A. Aljlaoud

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Organizational culture (OC) is recognized to have an influence on the propensity of organizations to innovate. It is also presumed that it may impede the innovation process from thriving within the organization. Investigating the role organizational culture plays in enabling or inhibiting innovation merits exploration to investigate organizational cultural attributes necessary to reach innovation goals. This study aims to investigate a preliminary matching heuristic of OC attributes to the type of innovation that has the potential to thrive within those attributes. A mixed methods research approach was adopted to achieve the research aims. Accordingly, participants from a national telecom company in Saudi Arabia took the Organizational Culture Assessment Instrument (OCAI). A further sample selected from the respondents’ pool holding the role of managing directors was interviewed in the qualitative phase. Our study findings reveal that the market culture type has a tendency to adopt radical innovations to disrupt the market and to preserve its market position. In contrast, we find that the adhocracy culture type tends to adopt the incremental innovation type and found this tends to be more convenient for employees due to its low levels of uncertainty. Our results are an encouraging indication that matching organizational culture attributes to the type of innovation aids in innovation management. This study carries limitations while drawing its findings from a limited sample of OC attributes that identify with the adhocracy and market culture types. An extended investigation is merited to explore other types of organizational cultures and their optimal innovation types.

Keywords: incremental innovation, radical innovation, organization culture, market culture, adhocracy culture, OACI

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Authors: Udeh Anastasia Ifeoma

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The need to develop the rural areas in developing countries where there have been decades of neglect are on the increase. It is against this background that this paper examined the impact of micro finance contribution to Nigeria’s gross domestic product. Time series data for 12-years period 1999-2010 were collated from Central Bank of Nigeria published annual reports. The least squares (LS) regression was used to analyze the data. The result revealed that microfinance activities have negative and non-significant contribution to gross domestic product in Nigeria. The paper recommends that rural poverty is often a product of poor infrastructural facilities; therefore government should make a conscious effort towards industrializing the rural areas thereby motivating the micro finance institutions to locate their offices and extend credit facilities to rural areas thereby improving rural economic growth.

Keywords: microfinance, rural economic growth, Nigeria, developing countries

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Authors: Chih-Hsiang Chang, Chia-Ching Tsai

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The aim of this study is to examine the stock price effect of the enterprises being classified as socially responsible. We explore the stock price response to the announcement that an enterprise is selected for the Taiwan Corporate Sustainability Awards. Empirical results indicate that the announcements of the Taiwan Corporate Sustainability Awards provide useful informational content to stock market. We find the evidence of insignificantly positive short-term and significantly positive long-term price reaction to the enterprises being classified as socially responsible. This study concludes that investors in the Taiwan stock market tend to view an enterprise being selected for the Taiwan Corporate Sustainability Awards as one with superior quality and long-term price potential.

Keywords: corporate social responsibility, stock price effect, Taiwan stock market, investments

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Authors: Kolesnik Nadezda A.

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The research aims to elaborate inter-organizational network relationships management model to maximize value co-creation. We propose a network management framework that requires evaluation of network partners with respect to their position and role in network; and elaboration of appropriate relationship development strategy with partners in network. Empirical research and approval is based on the case study method, including structured in-depth interviews with the companies from b2b market.

Keywords: inter-organizational networks, value co-creation, model, B2B market

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Authors: Mehmet Şimşek

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In the rapidly changing market conditions, it is getting harder to survive without adapting new abilities. Technology and globalization have enabled foreign producers to enter into national markets, even local ones. For this reason there is now big competition among production companies for market share. Furthermore, competition has provided customer with broad range of options to choose from. To be able to survive in this environment, companies need to produce at low price and at high quality. The best way to succeed this is the efficient use of supply chain management that has started to get shaped by the needs of customers and the environment.

Keywords: cycle time, logistics, outsourcing, production, supply chain

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Authors: Abate Getnet Demisash, Beshatu Taye Hatew, Ababo Geleta Gudisa

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As consumption trends of fish are rising in Ethiopia, assessment of the environmental performance of Fisheries becomes vital. Hence, Cleaner Production Assessment was conducted on Lake Tana No.1 Fish Supply Association. This paper focuses on determining the characteristics, quantity and setting up cleaner production option for the site with experimental investigation. The survey analysis showed that illegal waste dumping in Lake Tana is common practice in the area and some of the main reasons raised were they have no option than doing this for discharging fish wastes. Quantifying a fish waste by examination of records at the point of generation resulted in generation rate of 72,822.61 kg per year which is a significant amount of waste and needs management system. The result of the proximate analysis showed high free fat content of about 12.33% and this was a good candidate for the production of biodiesel that has been set as an option for fish waste utilization. Among the different waste management options, waste reduction by product optimization which involves biodiesel production was chosen as a potential method. Laboratory scale experiments were performed to produce renewable energy source from the wastes. The resulting biodiesel was characterized and found to have a density of 0.756kg/L, viscosity 0.24p and 153°C flash points which shows the product has values in compliance with American Society for Testing and Materials (ASTM) standards.

Keywords: biodiesel, cleaner production, renewable energy, clean energy, waste to energy

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Authors: Ahmet Koyuncu, Abdullah Berkan Erdogmus, Orkun Dogu, Sinan Uygur

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Thermoelectric modules are integrated to electronic components to keep their temperature in specific values in electronic cooling applications. They can be used in different ambient temperatures. The cold side temperatures of thermoelectric modules depend on their hot side temperatures, operation currents, and heat loads. Performance curves of thermoelectric modules are given at most two different hot surface temperatures in product catalogs. Characteristic properties are required to select appropriate thermoelectric modules in thermal design phase of projects. Generally, manufacturers do not provide characteristic material property values of thermoelectric modules to customers for confidentiality. Common commercial software applied like ANSYS ICEPAK, FloEFD, etc., include thermoelectric modules in their libraries. Therefore, they can be easily used to predict the effect of thermoelectric usage in thermal design. Some software requires only the performance values in different temperatures. However, others like ICEPAK require three temperature-dependent equations for material properties (Seebeck coefficient (α), electrical resistivity (β), and thermal conductivity (γ)). Since the number and the variety of thermoelectric modules are limited in this software, definitions of characteristic material properties of thermoelectric modules could be required. In this manuscript, the method of derivation of characteristic material properties from the datasheet of thermoelectric modules is presented. Material characteristics were estimated from two different performance curves by experimentally and numerically in this study. Numerical calculations are accomplished in ICEPAK by using a thermoelectric module exists in the ICEPAK library. A new experimental setup was established to perform experimental study. Because of similar results of numerical and experimental studies, it can be said that proposed equations are approved. This approximation can be suggested for the analysis includes different type or brand of TEC modules.

Keywords: electrical resistivity, material characteristics, thermal conductivity, thermoelectric coolers, seebeck coefficient

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Authors: Farshideh Einsele, Hassan Foroosh

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In this paper, we present a robust algorithm to recognize extracted text from grocery product images captured by mobile phone cameras. Recognition of such text is challenging since text in grocery product images varies in its size, orientation, style, illumination, and can suffer from perspective distortion. Pre-processing is performed to make the characters scale and rotation invariant. Since text degradations can not be appropriately defined using wellknown geometric transformations such as translation, rotation, affine transformation and shearing, we use the whole character black pixels as our feature vector. Classification is performed with minimum distance classifier using the maximum likelihood criterion, which delivers very promising Character Recognition Rate (CRR) of 89%. We achieve considerably higher Word Recognition Rate (WRR) of 99% when using lower level linguistic knowledge about product words during the recognition process.

Keywords: camera-based OCR, feature extraction, document, image processing, grocery products

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Authors: Gulmira Zhakupova, Tamara Tultabayeva, Aknur Muldasheva, Assem Sagandyk

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The development of technology and production of products with increased biological value based on the use of natural food raw materials are important tasks in the policy of the food market of the Republic of Kazakhstan. For Kazakhstan, livestock farming, in particular sheep farming, is the most ancient and developed industry and way of life. The history of the Kazakh people is largely connected with this type of agricultural production, with established traditions using dairy products from sheep's milk. Therefore, the development of new technologies from sheep’s milk remains relevant. In addition, one of the most promising areas for the development of food technology for therapeutic and prophylactic purposes is sheep milk products as a source of protein, immunoglobulins, minerals, vitamins, and other biologically active compounds. This article presents the results of research on the study of milk processing technology. The objective of the study is to study the possibilities of processing sheep milk and its role in human nutrition, as well as the results of research to improve the technology of sheep milk products. The studies were carried out on the basis of sanitary and hygienic requirements for dairy products in accordance with the following test methods. To perform microbiological analysis, we used the method for identifying Salmonella bacteria (Horizontal method for identifying, counting, and serotyping Salmonella) in a certain mass or volume of product. Nutritional value is a complex of properties of food products that meet human physiological needs for energy and basic nutrients. The protein mass fraction was determined by the Kjeldahl method. This method is based on the mineralization of a milk sample with concentrated sulfuric acid in the presence of an oxidizing agent, an inert salt - potassium sulfate, and a catalyst - copper sulfate. In this case, the amino groups of the protein are converted into ammonium sulfate dissolved in sulfuric acid. The vitamin composition was determined by HPLC. To determine the content of mineral substances in the studied samples, the method of atomic absorption spectrophotometry was used. The study identified the technological parameters of sheep milk products and determined the prospects for researching sheep milk products. Microbiological studies were used to determine the safety of the study product. According to the results of the microbiological analysis, no deviations from the norm were identified. This means high safety of the products under study. In terms of nutritional value, the resulting products are high in protein. Data on the positive content of amino acids were also obtained. The results obtained will be used in the food industry and will serve as recommendations for manufacturers.

Keywords: dairy, milk processing, nutrition, colostrum

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Authors: Shakila N. Senarath, Dinesh Asanka, Janaka Wijayanayake

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The necessity of cosmetic products is arising to fulfill consumer needs of personality appearance and hygiene. A cosmetic product consists of various chemical ingredients which may help to keep the skin healthy or may lead to damages. Every chemical ingredient in a cosmetic product does not perform on every human. The most appropriate way to select a healthy cosmetic product is to identify the texture of the body first and select the most suitable product with safe ingredients. Therefore, the selection process of cosmetic products is complicated. Consumer surveys have shown most of the time, the selection process of cosmetic products is done in an improper way by consumers. From this study, a content-based system is suggested that recommends cosmetic products for the human factors. To such an extent, the skin type, gender and price range will be considered as human factors. The proposed system will be implemented by using Machine Learning. Consumer skin type, gender and price range will be taken as inputs to the system. The skin type of consumer will be derived by using the Baumann Skin Type Questionnaire, which is a value-based approach that includes several numbers of questions to derive the user’s skin type to one of the 16 skin types according to the Bauman Skin Type indicator (BSTI). Two datasets are collected for further research proceedings. The user data set was collected using a questionnaire given to the public. Those are the user dataset and the cosmetic dataset. Product details are included in the cosmetic dataset, which belongs to 5 different kinds of product categories (Moisturizer, Cleanser, Sun protector, Face Mask, Eye Cream). An alternate approach of TF-IDF (Term Frequency – Inverse Document Frequency) is applied to vectorize cosmetic ingredients in the generic cosmetic products dataset and user-preferred dataset. Using the IF-IPF vectors, each user-preferred products dataset and generic cosmetic products dataset can be represented as sparse vectors. The similarity between each user-preferred product and generic cosmetic product will be calculated using the cosine similarity method. For the recommendation process, a similarity matrix can be used. Higher the similarity, higher the match for consumer. Sorting a user column from similarity matrix in a descending order, the recommended products can be retrieved in ascending order. Even though results return a list of similar products, and since the user information has been gathered, such as gender and the price ranges for product purchasing, further optimization can be done by considering and giving weights for those parameters once after a set of recommended products for a user has been retrieved.

Keywords: content-based filtering, cosmetics, machine learning, recommendation system

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Authors: Javeed Akhtar, R. K. Pandey, Z. R. Azaz Ahmad Azad

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For the purpose of making different uses of food material for the development of extruded foods are produced using single and twin extruders. Extrusion cooking is a useful and economical tool for processing of novel food. This high temperature, short time processing technology causes chemical and physical changes that alter the nutritional and physical quality of the product. Extrusion processing of food ingredients characteristically depends on associating process conditions that influence the product qualities. The process parameters are optimized for extrusion of food material in order to obtain the maximum nutritive value by inactivating the anti-nutritional factors. The processing conditions such as moisture content, temperature and time are controlled to avoid over heating or under heating which otherwise would result in a product of lower nutritional quality.

Keywords: extrusion processing, single and twin extruder, operating condition of extruders and extruded novel foods, food and agricultural engineering

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Authors: Ibrahim Abdel Gadir Malik, Dafalla Siddig Dafalla, Osama Abdelgadir El-Bushra

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Geological and engineering characteristics of intact rock and the discontinuity surfaces was used to describe and classify rock mass into zones based on mechanical and physical properties. Many conditions terms that affect the rock mas; such as Rock strength, Rock Quality Designation (RQD) value, joint spacing, and condition of joint, water condition with block size, joint roughness, separation, joint hardness, friction angle and weathering were used to classify the rock mass into: Good quality (class II) (RMR values range between 75% and 56%), Good to fair quality (class II to III) (RMR values range between 70% and 55%), Fair quality (class III) (RMR values range between 60% and 50%) and Fair to poor quality (Class III to IV) (RMR values, range between (50% and 35%).

Keywords: rock strength, RQD, joints, weathering

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Authors: Godwin Chigozie Okpara, Eugine Iheanacho

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The paper set out to assess the sustainability of debt in the Nigerian economy. Precisely, it sought to determine the level of debt sustainability and its impact on the growth of the economy; whether internationalization of capital market has positively influenced debt sustainability’s impact on economic growth; and to ascertain the direction of causality between external debt sustainability and the growth of GDP. In the light of these objectives, ratio analysis was employed for the determination of debt sustainability. Our findings revealed that the periods 1986 – 1994 and 1999 – 2004 were periods of severe unsustainable borrowing. The unit root test showed that the variables of the growth model were integrated of order one, I(1) and the cointegration test provided evidence for long run stability. Considering the dawn of internationalization of capital market, the researcher employed the structural break approach using Chow Breakpoint test on the vector error correction model (VECM). The result of VECM showed that debt sustainability, measured by debt to GDP ratio exerts negative and significant impact on the growth of the economy while debt burden measured by debt-export ratio and debt service export ratio are negative though insignificant on the growth of GDP. The Cho test result indicated that internationalization of capital market has no significant effect on the debt overhang impact on the growth of the Economy. The granger causality test indicates a feedback effect from economic growth to debt sustainability growth indicators. On the bases of these findings, the researchers made some necessary recommendations which if followed religiously will go a long way to ameliorating debt burdens and engendering economic growth.

Keywords: debt sustainability, internalization, capital market, cointegration, chow test

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Authors: Imelda Atengco Milan

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This research is aimed to assess the effectiveness and status of Islamic branding amongst hypermarkets from respondents perspective in the Kingdom of Bahrain such as Lulu, Geant and Carrefour and It was identified in terms of pure advertisement, religious norms and culture, certified halal product/ brand, consumption barriers and attitude towards other products/ brand. Included here are also the essentials in modern marketing including problems encountered and recommendations which will be revealed through the findings of the study. The methods used are descriptive and quantitative with sample analysis through quite a number of populations. Formulation of Sample questionnaire is done according to the variables and items used to measure reliability of statistics. The measurement of validity on the conduct of the surveys has been done according to Chronbach’s value (greater than 0.7). Pearson correlation was used as part of statistical analysis as well. It must show continuously that the model used is aligned towards factors indicated.

Keywords: pure advertisement, religious norms & culture, certified halal product, attitude towards other brand and consumption barriers

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Authors: Fei Wang, Jie Meng, Qingxiang Meng

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China is rich in straw and by-product resources, whose utilization has always been a hot topic. The objective of this study was to investigate the effect of feeding soybean straw and wine distiller’s grain as a replacement for corn stover on performance of beef cattle. Sixty Simmental×local crossbred bulls averaging 12 months old and 335.7 ± 39.1 kg of body weight (BW) were randomly assigned into four groups (15 animals per group) and allocated to a diet with 40% maize stover (MSD), a diet with 40% wrapping package maize silage (PMSD), a diet with 12% soybean straw plus 28% maize stover (SSD) and a diet with 12% wine distiller’s grain plus 28% maize stover (WDD). Bulls were fed ad libitum an TMR consisting of 36.0% maize, 12.5% of DDGS, 5.0% of cottonseed meal, 4.0% of soybean meal and 40.0% of by-product as described above. Treatment period lasted for 22 weeks, consisting of 1 week of dietary adaptation. The results showed that dry matter intake (DMI) was significantly higher (P < 0.01) for PMSD group than MSD and SSD groups during 0-7 week and 8-14week, and PMSD and WDD groups had higher (P < 0.05) DMI values than MSD and SSD groups during the whole period. Average daily gain (ADG) values were 1.56, 1.72, 1.68 and 1.58 kg for MSD, PMSD, SSD and WDD groups respectively, although the differences were not significant (P > 0.05). The value of blood sugar concentration was significantly higher (P < 0.01) for MSD group than WDD group, and the blood urea nitrogen concentration of SSD group was lower (P < 0.05) than MSD and WDD groups. No significant difference (P > 0.05) of serum total cholesterol, triglycerides or total protein content was observed among the different groups. Ten bulls with similar body weight were selected at the end of feeding trial and slaughtered for measurement of slaughtering performance, carcass quality and meat chemical composition. SSD group had significantly lower (P < 0.05) shear force value and cooking loss than MSD and PMSD groups. The pH values of MSD and SSD groups were lower (P < 0.05) than PMSD and WDD groups. WDD group had a higher fat color brightness (L*) value than PMSD and SSD groups. There were no significant differences in dressing percentage, meat percentage, top grade meat weight, ribeye area, marbling score, meat color and meat chemical compositions among different dietary treatments. Based on these results, the packed maize stover silage showed a potential of improving the average daily gain and feed intake of beef cattle. Soybean straw had a significant effect on improving the tenderness and reducing cooking loss of beef. In general, soybean straw and packed maize stover silage would be beneficial to nitrogen deposition and showed a potential to substitute maize stover in beef cattle diets.

Keywords: beef cattle, by-products, carcass quality, growth performance

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Authors: M. B. Neace, Xin GAo

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Small entrepreneurs are ubiquitous. Regardless of location their success depends on several behavioral characteristics and several market conditions. In this concept paper, we extend this paradigm to include elements from the science of chaos. Our observations, research findings, literature search and intuition lead us to the proposition that all entrepreneurs seek increasing returns, as did the many small entrepreneurs we have interviewed over the years. There will be a few whose initial perturbations may create tsunami-like waves of increasing returns over time resulting in very large market consequences–the butterfly impact. When small entrepreneurs perturb the market-place and their initial efforts take root a series of phase-space transitions begin to occur. They sustain the stream of increasing returns by scaling up. Chaos theory contributes to our understanding of this phenomenon. Sustaining and nourishing increasing returns of small entrepreneurs as complex adaptive systems requires scaling. In this paper we focus on the most critical element of the small entrepreneur scaling process–the mindset of the owner-operator.

Keywords: entrepreneur, increasing returns, scaling, chaos

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Authors: Bouchra Abdelilah, Akram El Korchi, Atmane Baddou

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With the very competitive business era that we witness nowadays, companies needs more that anytime to use all the resources they have in order to maximize performance and satisfy the customers’ needs. The changes occurring in the market business are often due to the variations of demand, which requires a very specific supply chain strategy. Supply chains aims to balance cost, quality, and service level and lead time. Still, managers are confused when faced with the strategies working the best for the supply chain: lean, agile and leagile. This paper presents a decision making tool that aims to assist the manager in choosing the supply chain strategy that suits the most his business, depending on the type of product and the nature of demand. Analyzing the different characteristics of supply chain will enable us to guide the manager to the suitable strategy between lean, agile and leagile.

Keywords: supply chain, lean, agile, flexibility, performance

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Authors: Benjamin Blat Belmonte, Stephan Rinderknecht

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The transition to electric vehicles (EVs) stands at the forefront of innovative strategies designed to address environmental concerns and reduce fossil fuel dependency. As the number of EVs on the roads increases, so too does the potential for their integration into energy markets. This research dives deep into the transformative possibilities of using electric vehicle fleets, specifically electric bus fleets, not just as consumers but as active participants in the energy market. This paper investigates the feasibility and grid effects of electric vehicle fleet operators in the energy market. Our objective centers around a comprehensive exploration of the sector coupling domain, with an emphasis on the economic potential in both electricity and balancing markets. Methodologically, our approach combines data mining techniques with thorough pre-processing, pulling from a rich repository of electricity and balancing market data. Our findings are grounded in the actual operational realities of the bus fleet operator in Darmstadt, Germany. We employ a Mixed Integer Linear Programming (MILP) approach, with the bulk of the computations being processed on the High-Performance Computing (HPC) platform ‘Lichtenbergcluster’. Our findings underscore the compelling economic potential of EV fleets in the energy market. With electric buses becoming more prevalent, the considerable size of these fleets, paired with their substantial battery capacity, opens up new horizons for energy market participation. Notably, our research reveals that economic viability is not the sole advantage. Participating actively in the energy market also translates into pronounced positive effects on grid stabilization. Essentially, EV fleet operators can serve a dual purpose: facilitating transport while simultaneously playing an instrumental role in enhancing grid reliability and resilience. This research highlights the symbiotic relationship between the growth of EV fleets and the stabilization of the energy grid. Such systems could lead to both commercial and ecological advantages, reinforcing the value of electric bus fleets in the broader landscape of sustainable energy solutions. In conclusion, the electrification of transport offers more than just a means to reduce local greenhouse gas emissions. By positioning electric vehicle fleet operators as active participants in the energy market, there lies a powerful opportunity to drive forward the energy transition. This study serves as a testament to the synergistic potential of EV fleets in bolstering both economic viability and grid stabilization, signaling a promising trajectory for future sector coupling endeavors.

Keywords: electric vehicle fleet, sector coupling, optimization, electricity market, balancing market

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Authors: Lara F. Horani, Shurong Tong

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Identification of customer requirements and their preferences are the starting points in the process of product design. Most of design methodologies focus on traditional requirements. But in the previous decade, the green products and the environment requirements have increasingly attracted the attention with the constant increase in the level of consumer awareness towards environmental problems (such as green-house effect, global warming, pollution and energy crisis, and waste management). Determining the importance weights for the customer requirements is an essential and crucial process. This paper used the analytic hierarchy process (AHP) approach to evaluate and rate the customer requirements for green products. With respect to the ultimate goal of customer satisfaction, surveys are conducted using a five-point scale analysis. With the help of this scale, one can derive the weight vectors. This approach can improve the imprecise ranking of customer requirements inherited from studies based on the conventional AHP. Furthermore, the AHP with extent analysis is simple and easy to implement to prioritize customer requirements. The research is based on collected data through a questionnaire survey conducted over a sample of 160 people belonging to different age, marital status, education and income groups in order to identify the customer preferences for green product requirements.

Keywords: analytic hierarchy process (AHP), green product, customer requirements for green design, importance weights for the customer requirements

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Authors: Danuta Szwajca

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Image is a very important intangible asset of a contemporary enterprise, especially, in case of a bank as a public trust institution. A positive, demanded image may effectively distinguish the bank among the competition and build the customer confidence and loyalty. PKO BP is the biggest and largest bank functioning on the Polish financial market. Within the years not a very nice image of the bank has been embedded in the customers’ minds as an old-fashioned, stagnant, resistant to changes institution, what result in the customer loss, and ageing. For this reason, in 2010, the bank launched a campaign of radical image change along with a strategy of branches modernization and improvement of the product offer. The objective of the article is to make an attempt of effectiveness assessment of the brand repositioning campaign that lasted three years. The foundations of the assessment are the results of the questionnaire research concerning the way of bank’s perception before and after the campaign.

Keywords: advertising campaign, brand repositioning, image of the bank, repositioning

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Authors: Lizinis Cassendra Frederick Dony, Dewi Binti Tajuddin, Jirom Jeremy Frederick Dony, Andrew Nicholas

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Unemployed graduates have become among the world major concerns lately. 70% of Malaysian graduates are jobless. Due to this concerns, this paper aims to identify major factors influencing Sabah minority ethnic favorable in the entrepreneurialism business interest. Hence, extensive introductory entrepreneurship syllabus clusters development beginning from the early childhood, primary, secondary and university students. This may induce interest appeal and to develop focus group of self-employment. The study focus on 7 indicators consist of demographic profiles variable (DP), social norms (SN), attitude (A), self-efficacy (SE) and business management skills (BMS) with reference to university students’ entrepreneurial intention. This study also partially mediates the relationship between product attractiveness (PA) and the minority ethnic entrepreneurialism business interest (MEEBI), by testifying their direct and indirect relationships. Hence, this study provides new perception towards improving the graduates’ characteristic, capabilities to exploit the business opportunities in the market. Furthermore, this paper will assess the relationship with the product attractiveness(PA) as a mediator. The study encompasses on the type of Sabah minority ethnic (ME) and nature of family own business (FOB) background with the 280 samples students in UiTM Sabah and UMS. The descriptive and random sampling method of research which revealed that majority of the respondents agreed that FOB and entrepreneurship education had positively influenced the ethnic students’ involvement in the entrepreneurial process and career development either full-time or part-time basis.

Keywords: Demographic profile (DP), soci, unemployed graduates, Malaysian minority

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Authors: Dina Kuttah

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It is well known that recycling of by-product materials saves natural resources, reduces by-product volumes, and reduces the need for virgin materials. The steel industry produces a myriad of metal components for industrial chains, which in turn generates mineral discarded sand molds. Although these sands are clean before their use, after casting, they may contain contaminants. Therefore, huge quantities of excess by-product foundry sand (BFS) end up occupying large volumes in landfills. In Sweden, approximately 200000 tonnes of excess BFS end up in landfills. The transportation and construction industries have the greatest potential for reuse by-products because they use vast quantities of earthen materials annually. Accordingly, experimental work has been undertaken to evaluate the possible use of two chosen BFS from two Swedish foundries in a conventional Swedish asphalt mixture. The experimental procedure of this research has focused on the dosage, environmental and technical properties of the same mixture type ABT 11 and the same bitumen (160/220) but at different replacement proportions of the conventional fine sand with the two BFS. The environmental requirements, in addition to the technical requirements, namely, void ratio, static indirect tensile strength ratio, and resilient modulus before and after moisture-induced sensitivity tests of the asphalt mixtures, have been investigated in the current study. The test results demonstrated that the BFS from both foundries can be incorporated in the selected asphalt mixture at specified replacement proportions of the conventional fine sand fraction 0-2 mm, as discussed in the paper.

Keywords: asphalt mixtures, by-product foundry sand, indirect tensile strength, moisture induced sensitivity tests, resilient modulus

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Authors: Nishi Malhotra

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Art has developed as a mode of investment and saving. Art and culture of any nation is the source of foreign direct investment (FDI) generation and growth development. Several intermediaries and skill-building organizations thrive on at and culture for their earnings. Indian art market has grown to Rs. 2000 Crores. Art establishment houses access to privileged information is the main reason for arbitrariness and volatility in the market. The commercialization of art and development of the markets with refinement in the taste of the customers have led to the development of art as an investment avenue. Investors keen on investing in these products can do so, and earnings from art are taxable too, like any other capital asset. This research paper is aimed at exploring the role of art and culture as an investment avenue in India and reasons for increasing volatilities in the art market. Based on an extensive literature review and secondary research, a benchmarking study has been conducted to capture the growth of the art as an investment avenue. These studies indicate that during the financial crisis of 2008-10, the art emerged as an alternative investment avenue. The paper aims at discussing the financial engineering of various art funds and instruments. Based on secondary data available from Sotheby’s, Christies, Bonham, there is a positive correlation between strategic diversification and increasing return in the Art market. Similarly, digitization has led to disintermediation in the art markets and also helped to increase the market base. The data clearly enumerates the growing interest of the Indian investor towards art as an investment option. Much like any other broad asset class, art market too thrives on excess returns provided by diversification. Many financial intermediaries and art funds have emerged, to offer valuable investment planning advisory to a genuine investor. This paper clearly highlights the increasing returns of strategic diversification and its impact on reducing volatility in the art markets. Moreover, with coming up of e-auctions and websites, investors are able to analyse art more objectively. Digitization and commercialization of art have definitely helped in reducing volatility in world art markets.

Keywords: art, investment avenue, diversification, digitization

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Authors: Kazuko Sakamoto, Keiichiro Kawarabayashi, Yoji Kitani

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Japanese sweets are one of the important elements of the Chur Japan strategy. In this research, we investigated what kind of sweets are liked to the Chinese tourist. What is generally eaten is influenced by culture, a sense of values, and business practice. Therefore, what was adapted there is sold. However, when traveling, what its country does not have is called for. Then, how far should we take in Chinese people's taste in a design?　This time, the design attribute (a color and a form) which leads to sweets "being delicious" was clarified by rough aggregate theory.As a result, the difference in the taste of Chinese people and Japanese people became clear.

Keywords: design attribute, international comparison, taste by appearance, design attribute

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Authors: Qiang Ren

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A growing number of states are improving domestic law to better protect and promote foreign investment by changing/upgrading the existing law. However, inconsistency occurs because the new law is different from the ‘old’ law. For example, China has issued an unprecedented Foreign Investment Law and several regulations allowing comprehensive market access for foreign investment in most energy sectors since 2020. However, some laws, rules, regulations, etc. enacted previously remain valid, and the provisions regulating foreign investment do not grant full market access to foreign investment as such. The inconsistency above makes it necessary to investigatehow the international investment treaty law and dispute settlement practice respond to the ‘inconsistency and conflict’ in municipal law andwhat remedy foreign investors can seek under international law if the investment is denied due to inconsistency. Ultimately, it aims to examine how international tribunals should balance the gradually developing legal system of host states and the protection of foreign investors and investments if the host states cannot provide consistency during such a transition period of law development. The research seeks to answer these questions by making a comparative analysis of domestic law on market access to foreign investment, international investment treaties, and dispute arbitral practice. The objective is to examine how international investment treaty law and international investment dispute settlement practice evaluate the conflicts in the municipal law of host states in the admission of foreign investment. It also explores the possibility of harmonisation among them.

Keywords: municipal law, protect and promote foreign investment, international law, host states

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Authors: Qingxin Chen, Liben Jiang, Andrew Smith, Karim Hadjri

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Since 2007, the Chinese food industry has undergone serious food contamination in the baby dairy industry, especially milk powder contamination. One of the milk powder products was found to contain melamine and a significant number (294,000) of babies were affected by kidney stones. Due to growing concerns among consumers about food safety and protection, and high pressure from central government, companies must take radical action to ensure food quality protection through the use of an appropriate quality management system. Previously, though researchers have investigated the health and safety aspects of food industries and products, quality issues concerning food products in China have been largely over-looked. Issues associated with baby dairy products and their quality issues have not been discussed in depth. This paper investigates the impact of quality management systems on the Chinese baby dairy product industry. A literature review was carried out to analyse the use of quality management systems within the Chinese milk power market. Moreover, quality concepts, relevant standards, laws, regulations and special issues (such as Melamine, Flavacin M1 contamination) have been analysed in detail. A qualitative research approach is employed, whereby preliminary analysis was conducted by interview, and data analysis based on interview responses from four selected Chinese baby dairy product companies was carried out. Through the analysis of literature review and data findings, it has been revealed that for quality management system that has been designed by many practitioners, many theories, models, conceptualisation, and systems are present. These standards and procedures should be followed in order to provide quality products to consumers, but the implementation is lacking in the Chinese baby dairy industry. Quality management systems have been applied by the selected companies but the implementation still needs improvement. For instance, the companies have to take measures to improve their processes and procedures with relevant standards. The government need to make more interventions and take a greater supervisory role in the production process. In general, this research presents implications for the regulatory bodies, Chinese Government and dairy food companies. There are food safety laws prevalent in China but they have not been widely practiced by companies. Regulatory bodies must take a greater role in ensuring compliance with laws and regulations. The Chinese government must also play a special role in urging companies to implement relevant quality control processes. The baby dairy companies not only have to accept the interventions from the regulatory bodies and government, they also need to ensure that production, storage, distribution and other processes will follow the relevant rules and standards.

Keywords: baby dairy product, food quality, milk powder contamination, quality management system

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Authors: Giovanni Masala, Stefania Marica

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Forecasting electricity load plays a crucial role regards decision making and planning for economical purposes. Besides, in the light of the recent privatization and deregulation of the power industry, the forecasting of future electricity load turned out to be a very challenging problem. Empirical data about electricity load highlights a clear seasonal behavior (higher load during the winter season), which is partly due to climatic effects. We also emphasize the presence of load periodicity at a weekly basis (electricity load is usually lower on weekends or holidays) and at daily basis (electricity load is clearly influenced by the hour). Finally, a long-term trend may depend on the general economic situation (for example, industrial production affects electricity load). All these features must be captured by the model. The purpose of this paper is then to build an hourly electricity load model. The deterministic component of the model requires non-linear regression and Fourier series while we will investigate the stochastic component through econometrical tools. The calibration of the parameters’ model will be performed by using data coming from the Italian market in a 6 year period (2007- 2012). Then, we will perform a Monte Carlo simulation in order to compare the simulated data respect to the real data (both in-sample and out-of-sample inspection). The reliability of the model will be deduced thanks to standard tests which highlight a good fitting of the simulated values.

Keywords: ARMA-GARCH process, electricity load, fitting tests, Fourier series, Monte Carlo simulation, non-linear regression

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Authors: Auntika Thipjumnong

Abstract:

This research study aimed to investigate the production process and the market target of Kraseasin’s woven cloth including the customers’ behaviors towards the local woven products. The suggestions of a better process of production were recommended in this study. This survey research was conducted by using a questionnaire and interview, which were considered as the practical instruments to collect the data. The 200 Kraseasin’s woven makers and consumers were subjects by using a purposive sampling. Percentages, means and standard deviation were used to analyze data. The findings revealed that only 22 local woven members owned their 18 manual weavers in producing the raw materials like cotton or fiber. The main products were flowery woven cloth e.g. pikul, puangchompoo, pakakrong and ban mai roo roiy, and the others were rainy, glass wall, dice glass ball and yok dok etc. At the present, all local woven products were applied to be modernized but the strong point of those products were keeping the quality standard and firming textures, not thickness. The main objective of producing these local woven products was to earn and increase their extra incomes. Moreover, there were two dominant sales: Firstly, the makers sold their own products by themselves in their community and malls; and secondly, they would weave their products by customers’ orders. The prices’ allocation was on the difficulties in producing process. The government officials and non-government officials in local were normally customers. However the drawback of producing this local product was lack of raw material and this brought about the higher investment. The community’s customers were now lacking of interest in wearing these local products, even though they maintained their quality standard. The factors in customers’ purchasing decision were product (M = 3.93), price (M = 3.74), distribution (M = 3.73) and promotion (M = 3.97) for marketing mix well-known. Suggestion was a designing pattern of products had to be matched to the customers’ needs.

Keywords: marketing, consumer behavior, cloth products weaves, Songkhla Thailand

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Authors: Juland D. Salayo

Abstract:

With numerous innovations introduced in the Philippine educational system, the country’s struggle of materializing its national goal of transforming lives ends with great loss. Many agree that the failure to emerge the integral values of the program, framework and the implementers impedes realization. Employing a descriptive-correlational method, it aimed to determine the value clusters of the Grade 9 teachers as assessed by themselves and by the students, the significant difference of the assessed values and the significant difference on the values based on their profile. Respondents were composed of sixty-nine (69) teachers and three hundred forty (340) students using simple random sampling. Through a survey-questionnaire, the study revealed that the teachers have high regards on their self-reliance, honesty and trustworthiness, obedience, politeness and respect and self-discipline and spirituality. In contrast, they have ranked the following values fairly: justice and fairness, courage, responsibility and punctuality and nationalism and patriotism. Having assessed by the students, they have highly regarded their teachers’ self-reliance, responsibility and punctuality, obedience, politeness and respect and fair play and sportsmanship. On the other hand, the student-respondents made a low assessment on the level of the teachers’ justice and fairness, nationalism and patriotism, honesty and trustworthiness and excellence. Using t-test, it showed that there is a significant difference between the assessments of the respondents. Finally, among the demographic profiles, only civil status and age rejected the hypothesis. The following were recommended: provide educators value-enhancement trainings and conferences, organize value-oriented organizations and activities, and make intensive value-campaigns heightening the low-assessed values. Thus, a Revised Values Education Program (RVEP) was made to further meet the objectives of the program, address the needs of its clienteles, and responding to the demands of both education and society towards excellence in service, social and economic revolution, and constructive national goals which are based from integral values.

Keywords: values, value clusters, values education program, values education, teachers' assessed values

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