Search results for: insurance markets

Authors: Felipe Bedoya Maya, Agustina Calatayud, Vileydy Gonzalez Mejia

Abstract:

Encompassing inventory, warehousing, and transportation management, logistics is a crucial predictor of firm performance. This has been extensively proven by extant literature in business and operations management. Logistics is also a fundamental determinant of a country's ability to access international markets. Available studies in international and transport economics have shown that limited transport infrastructure and underperforming transport services can severely affect international competitiveness. However, the evidence lacks the overall impact of logistics performance-encompassing all inventory, warehousing, and transport components- on global trade. In order to fill this knowledge gap, the paper uses a gravitational trade model with 155 countries from all geographical regions between 2007 and 2018. Data on logistics performance is obtained from the World Bank's Logistics Performance Index (LPI). First, the relationship between logistics performance and a country’s total trade is estimated, followed by a breakdown by the economic sector. Then, the analysis is disaggregated according to the level of technological intensity of traded goods. Finally, after evaluating the intensive margin of trade, the relevance of logistics infrastructure and services for the extensive trade margin is assessed. Results suggest that: (i) improvements in both logistics infrastructure and services are associated with export growth; (ii) manufactured goods can significantly benefit from these improvements, especially when both exporting and importing countries increase their logistics performance; (iii) the quality of logistics infrastructure and services becomes more important as traded goods are technology-intensive; and (iv) improving the exporting country's logistics performance is essential in the intensive margin of trade while enhancing the importing country's logistics performance is more relevant in the extensive margin.

Keywords: gravity models, infrastructure, international trade, logistics

Procedia PDF Downloads 190

Authors: Chin-Hsiang Chu

Abstract:

This article review the literature in the field among the marketing and aesthetics, the current market and customer-oriented product sales, and gradually from the practical functionality, transformed into the visual appearance of the concept note and the importance of marketing experience substance 'economic Aesthetics' trend. How to introduce the concept of aesthetic and differentiate products have become an important content of marketing management in for an organization in marketing.In previous studies,marketing aesthetic related researches are rare.Therefore, the purpose of this study to explore the connection between aesthetics and marketing of the market economy, and aggregated content through literature review, trying to find related research implications for the management of marketing aesthetics, market-oriented and customer value and development of the product. In this study, the problem statement and background, the development of the theory of evolution, as well as methods and results of discovery stage, literature review was conducted to explore. The results found: (1) Study of Aesthetics will help deepen the shopping environment and service environment commonly understood. (2) the perceived value of products imported aesthetic, consumer willingness to buy, and even premium products will be more attractive. (3) marketing personnel for general marketing management with a high degree of aesthetic identity. (4) management in marketing aesthetics connotation, aesthetic characteristics of five elements is greatly valued by the real-time, complex, specificity, attract sexual and richness. (5) allows consumers to experience through the process due to stimulate the senses, the mind and thinking with the corporate brand or have a deeper link. Results of this study can be used as business in a competitive market, new product development and design of the guide.

Keywords: marketing aesthetics, aesthetics economic, aesthetic, experiential marketing

Procedia PDF Downloads 241

Authors: Muhammad Afzal, Shahbaz Mushtaq, Duc-Anh-An-Vo, Kathryn Reardon Smith, Thanh Ma

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Climate change has become one of the most challenging environmental issues in the 21st century. Climate change-induced natural disasters, especially floods, are the major factors of livelihood vulnerability, impacting millions of individuals worldwide. Evaluating and mitigating the effects of floods requires an in-depth understanding of the relationship between vulnerability and livelihood capital assets. Using an integrated approach, sustainable livelihood framework, and system thinking approach, the study developed a conceptual model of a generalized livelihood system in District Rajanpur, Pakistan. The model visualizes the livelihood vulnerability system as a whole and identifies the key feedback loops likely to influence the livelihood vulnerability. The study suggests that such conceptual models provide effective communication and understanding tools to stakeholders and decision-makers to anticipate the problem and design appropriate policies. It can also serve as an evaluation technique for rural livelihood policy and identify key systematic interventions. The key finding of the study reveals that household income, health, and education are the major factors behind the livelihood vulnerability of the rural poor of District Rajanpur. The Pakistani government tried to reduce the livelihood vulnerability of the region through different income, health, and education programs, but still, many changes are required to make these programs more effective especially during the flood times. The government provided only cash to vulnerable and marginalized families through income support programs, but this study suggests that along with the cash, the government must provide seed storage facilities and access to crop insurance to the farmers. Similarly, the government should establish basic health units in villages and frequent visits of medical mobile vans should be arranged with advanced medical lab facilities during and after the flood.

Keywords: livelihood vulnerability, rural communities, flood, sustainable livelihood framework, system dynamics, Pakistan

Procedia PDF Downloads 33

Authors: Siripen Yiamjanya, Kevin Wongleedee

Abstract:

This research paper aims to identify travel motivation by push and pull factors that affected decision making of international tourists in selecting Thailand as their destination choice. A total of 200 international tourists who traveled to Thailand during January and February, 2014 were used as the sample in this study. A questionnaire was employed as a tool in collecting the data, conducted in Bangkok. The list consisted of 30 attributes representing both psychological factors as “push- based factors” and destination factors as “pull-based factors”. Mean and standard deviation were used in order to find the top ten travel motives that were important determinants in the respondents’ decision making process to select Thailand as their destination choice. The finding revealed the top ten travel motivations influencing international tourists to select Thailand as their destination choice included [i] getting experience in foreign land; [ii] Thai food; [iii] learning new culture; [iv] relaxing in foreign land; [v] wanting to learn new things; [vi] being interested in Thai culture, and traditional markets; [vii] escaping from same daily life; [viii] enjoying activities; [ix] adventure; and [x] good weather. Classification of push- based and pull- based motives suggested that getting experience in foreign land was the most important push motive for international tourists to travel, while Thai food portrayed its highest significance as pull motive. Discussion and suggestions were also made for tourism industry of Thailand.

Keywords: decision making, destination choice, international tourist, pull factor, push factor, Thailand, travel motivation

Procedia PDF Downloads 376

Authors: Rizgar Abdullah Sabir Jaf, Bayan Sedeeq Azeez Hussin, Dler Moosa Ahmed Karim

Abstract:

Presently, economic and technological developments are growing faster in an unparalleled way. The result of that is innovative changing a great deal of a great deal of assumption, concepts, transactions, and high of competition between companies all over the world. The title of the thesis is one of the subjects that get large concerns in the financial and business world in the present time. That is because many competitive firms have appeared in the regional and global markets and the rapid changes that covered all fields of life. The subjects of the dissertation have a special importance in making the firm's businesses succeed in general and the industrial firms especially. Thus, the basic purpose of this study is to determine whether target costing is used in the costing application process in their customer expectation, profit margin, cost and price determination, cost reduction and management operations. In today’s intensely competitive and highly volatile business environment, consistent development of low cost and high quality products meeting the functional requirements is a key to a company's survival. Companies continuously strive to reduce the costs while still producing quality products to stay ahead in the competition. Many companies have turned to target costing to achieve this objective. The results indicate that there is a significant positive relationship (at the significance level less than 0.05) between the factors competitive advantage and management accounting techniques in the firm's sample study.

Keywords: strategic information, target cost, competitive advantage, Iraqi soft drink firms

Procedia PDF Downloads 285

Authors: Mohamed El-Khateeb

Abstract:

Encompassing inventory, warehousing, and transportation management, logistics is a crucial predictor of firm performance. This has been extensively proven by extant literature in business and operations management. Logistics is also a fundamental determinant of a country's ability to access international markets. Available studies in international and transport economics have shown that limited transport infrastructure and underperforming transport services can severely affect international competitiveness. However, the evidence lacks the overall impact of logistics performance-encompassing all inventory, warehousing, and transport components- on global trade. In order to fill this knowledge gap, the paper uses a gravitational trade model with 155 countries from all geographical regions between 2007 and 2018. Data on logistics performance is obtained from the World Bank's Logistics Performance Index (LPI). First, the relationship between logistics performance and a country’s total trade is estimated, followed by a breakdown by the economic sector. Then, the analysis is disaggregated according to the level of technological intensity of traded goods. Finally, after evaluating the intensive margin of trade, the relevance of logistics infrastructure and services for the extensive trade margin is assessed. Results suggest that: (i) improvements in both logistics infrastructure and services are associated with export growth; (ii) manufactured goods can significantly benefit from these improvements, especially when both exporting and importing countries increase their logistics performance; (iii) the quality of logistics infrastructure and services becomes more important as traded goods are technology-intensive; and (iv) improving the exporting country's logistics performance is essential in the intensive margin of trade while enhancing the importing country's logistics performance is more relevant in the extensive margin.

Keywords: low-cost, recycling, reuse, solid waste, wastewater treatment

Procedia PDF Downloads 179

Authors: Thidarat Duangyod, Chanida Palanuvej, Nijsiri Ruangrungsi

Abstract:

Pentace burmanica Kurz., belonging to the Malvaceae family, is commonly used for anti-diarrhea in Thai traditional medicine. A method for quantification of (+)-catechin and (-)-epicatechin in P. burmanica stem bark from 12 different Thailand markets by reverse-phase high performance liquid chromatography (HPLC) was investigated and validated. The analysis was performed by a Shimadzu DGU-20A3 HPLC equipped with a Shimadzu SPD-M20A photo diode array detector. The separation was accomplished with an Inersil ODS-3 column (5 µm x 4.6 x 250 mm) using 0.1% formic acid in water (A) and 0.1% formic acid in acetonitrile (B) as mobile phase at the flow rate of 1 ml/min. The isocratic was set at 20% B for 15 min and the column temperature was maintained at 40 ºC. The detection was at the wavelength of 280 nm. Both (+)-catechin and (-)-epicatechin existed in the ethanolic extract of P. burmanica stem bark. The content of (-)-epicatechin was found as 59.74 ± 1.69 µg/mg of crude extract. In contrast, the quantitation of (+)-catechin content was omitted because of its small amount. The method was linear over a range of 5-200 µg/ml with good coefficients (r2 > 0.99) for (+)-catechin and (-)-epicatechin. Limit of detection values were found to be 4.80 µg/ml for (+)-catechin and 5.14 µg/ml for (-)-epicatechin. Limit of quantitation of (+)-catechin and (-)-epicatechin were of 14.54 µg/ml and 15.57 µg/ml respectively. Good repeatability and intermediate precision (%RSD < 3) were found in this study. The average recoveries of both (+)-catechin and (-)-epicatechin were obtained with good recovery in the range of 91.11 – 97.02% and 88.53 – 93.78%, respectively, with the %RSD less than 2. The peak purity indices of catechins were more than 0.99. The results suggested that HPLC method proved to be precise and accurate and the method can be conveniently used for (+)-catechin and (-)-epicatechin determination in ethanolic extract of P. burmanica stem bark. Moreover, the stem bark of P. burmanica was found to be a rich source of (-)-epicatechin.

Keywords: pentace burmanica, (+)-catechin, (-)-epicatechin, high performance liquid chromatography

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Authors: Felix Y. Mahenge, Abiud L. Kaswamila, Davis G. Mwamfupe

Abstract:

Grapevine is a drought resistant crop, although in recent years it has been observed to be affect by climate change. This compelled investigation of grapevine farmers’ adaptation strategies to climate change in Dodoma, Tanzania. A mixed research approach was adopted. Likewise, purposive and random sampling techniques were used to select individuals for the study. About 248 grapevine farmers and 64 key informants and members of focus group discussions were involved. Primary data were collected through surveys, discussions, interviews, and observations, while secondary data were collected through documentary reviews. Quantitative data were analysed through descriptive statistics by means of IBM (SPSS) software while the qualitative data were analysed through content analysis. The findings indicate that climate change has adversely affected grapevine production leading to the occurrence of grapevine pests and diseases, drought which increases costs for irrigation and uncertainties which affect grapevine markets. For the purpose of lessening grapevine production constraints due to climate change, farmers have been using several adaptation strategies. Some of the strategies include application of pesticides, use of scarers to threaten birds, irrigation, timed pruning, manure fertilisers and diversification to other farm or non-farm activities. The use of pesticides and industrial fertilizers were regarded as increasing human health risks in the study area. The researchers recommend that the Tanzania government should strengthen the agricultural extension services in the study area so that the farmers undertake adaptation strategies with the consideration of human health safety.

Keywords: grapevine farmers, adaptation, climate change, human health

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Authors: Monica Plechero

Abstract:

Many firms belonging to Italian industrial districts faced a crisis starting from 2000 and upsurging during 2008-2014. To remain competitive in the global market, these firms and their local systems need to renovate their traditional competitive advantages, strengthen their link with global flows of knowledge. This may be particularly relevant in sectors such as the mechatronics, that combine traditional knowledge domain with new knowledge domains (e.g. mechanics, electronics, and informatics). This sector is nowadays one of the key sectors within the so-called ‘smart specialization strategy’ that can lead part of the Italian traditional industry towards new economic developmental opportunities. This paper, by investigating the mechatronics district of the Veneto region, wants to shed new light on how firms of a local system can gain from the globalization of innovation and innovation networks. Methodologically, the paper relies on primary data collected through a survey targeting firms of the local system, as well as on a number of qualitative case studies. The relevant role of medium size companies in the district emerges as evident, as they have wider opportunities to be involved in different processes of globalization of innovation. Indeed, with respect to small companies, the size of medium firms allows them to exploit strategically international markets and globally distributed knowledge. Supporting medium firms’ global innovation strategies, and incentivizing their role as district gatekeepers, may strengthen the competitive capability of the local system and provide new opportunities to positively face global competition.

Keywords: global innovation network, industrial district, internationalization, innovation, mechatronics, Veneto region

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Authors: Ana Hol

Abstract:

We live in a constantly changing environment where technology has become an integral component of our day to day life. We rely heavily on mobile devices, we search for data via web, we utilise smart home sensors to create the most suited ambiences and we utilise applications to shop, research, communicate and share data. Heavy reliance on technology therefore is creating new connections between STEM (Science, Technology, Engineering and Mathematics) fields which in turn rises a question of what the STEM education of the future should be like? This study was based on the reviews of the six Australian Information Systems students who undertook an international study tour to India where they were given an opportunity to network, communicate and meet local students, staff and business representatives and from them learn about the local business implementations, local customs and regulations. Research identifies that if we are to continue to implement and utilise electronic devices on the global scale, such as for example implement smart cars that can smoothly cross borders, we will need the workforce that will have the knowledge about the cars themselves, their parts, roads and transport networks, road rules, road sensors, road monitoring technologies, graphical user interfaces, movement detection systems as well as day to day operations, legal rules and regulations of each region and country, insurance policies, policing and processes so that the wide array of sensors can be controlled across country’s borders. In conclusion, it can be noted that allowing students to learn about the local conditions, roads, operations, business processes, customs and values in different countries is giving students a cutting edge advantage as such knowledge cannot be transferred via electronic sources alone. However once understanding of each problem or project is established, multidisciplinary innovative STEM projects can be smoothly conducted.

Keywords: STEM, curiosity, innovation, advancements

Procedia PDF Downloads 176

Authors: Ghulam Mustafa Kamal, Xiaohua Wang, Bin Yuan, Abdullah Ijaz Hussain, Jie Wang, Shahzad Ali Shahid Chatha, Xu Zhang, Maili Liu

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Organic food products are becoming increasingly popular in recent years, as consumers have turned more health conscious and environmentally aware. A lot of consumers have understood that the organic foods are healthier than conventionally produced food stuffs. Price difference between conventional and organic foods is very high. So, it is very common to cheat the consumers by mislabeling and adulteration. Our study describes the 1H NMR based approach to characterize and differentiate soy sauce prepared from organically and conventionally grown raw materials (wheat and soybean). Commercial soy sauce samples fermented from organic and conventional raw materials were purchased from local markets. Principal component analysis showed clear separation among organic and conventional soy sauce samples. Orthogonal partial least squares discriminant analysis showed a significant (p < 0.01) separation among two types of soy sauce yielding leucine, isoleucine, ethanol, glutamate, lactate, acetate, β-glucose, sucrose, choline, valine, phenylalanine and tyrosine as important metabolites contributing towards this separation. Abundance ratio of 13C to 12C was also evaluated by 1H NMR spectroscopy which showed an increased ratio of 13C isotope in organic soy sauce samples indicating the organically grown wheat and soybean used for the preparation of organic soy sauce. Results of the study can be helpful to the end users to select the soy sauce of their choice. This information could also pave the way to further trace and authenticate the raw materials used in production of soy sauce.

Keywords: 1H NMR, multivariate analysis, organic, conventional, 13C isotopic ratio, soy sauce

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Authors: Ayesha Khatun

Abstract:

In 21st century where markets are unstable, technologies rapidly proliferate, competitors multiply, products and services become obsolete almost overnight and customers demand low cost high value product, leveraging and harnessing knowledge is not just a potential source of competitive advantage rather a necessity in technology based and information intensive industries. Knowledge management focuses on leveraging the available knowledge and sharing the same among the individuals in the organization so that the employees can make best use of it towards achieving the organizational goals. Knowledge is not a discrete object. It is embedded in people and so difficult to transfer outside the immediate context that it becomes a major competitive advantage. However, internal transfer of knowledge among the employees is essential to maximize the use of knowledge available in the organization in an unstructured manner. But as knowledge is the source of competitive advantage for the organization it is also the source of competitive advantage for the individuals. People think that knowledge is power and sharing the same may lead to lose the competitive position. Moreover, the very nature of tacit knowledge poses many difficulties in sharing the same. But sharing tacit knowledge is the vital part of knowledge management process because it is the tacit knowledge which is inimitable. Knowledge management has been made synonymous with the use of software and technology leading to the management of explicit knowledge only ignoring personal interaction and forming of informal networks which are considered as the most successful means of sharing tacit knowledge. Factors responsible for effective sharing of tacit knowledge are grouped into –individual, organizational and technological factors. Different factors under each category have been identified. Creating a positive organizational culture, encouraging personal interaction, practicing reward system are some of the strategies that can help to overcome many of the barriers to effective sharing of tacit knowledge. Methodology applied here is completely secondary. Extensive review of relevant literature has been undertaken for the purpose.

Keywords: knowledge, tacit knowledge, knowledge management, sustainable competitive advantage, organization, knowledge sharing

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Authors: Min Chen, Rubi Gupta

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Understanding and predicting stock market movements is a challenging problem. It is believed stock markets are partially driven by public sentiments, which leads to numerous research efforts to predict stock market trend using public sentiments expressed on social media such as Twitter but with limited success. Recently a microblogging website StockTwits is becoming increasingly popular for users to share their discussions and sentiments about stocks and financial market. In this project, we analyze the text content of StockTwits tweets and extract financial sentiment using text featurization and machine learning algorithms. StockTwits tweets are first pre-processed using techniques including stopword removal, special character removal, and case normalization to remove noise. Features are extracted from these preprocessed tweets through text featurization process using bags of words, N-gram models, TF-IDF (term frequency-inverse document frequency), and latent semantic analysis. Machine learning models are then trained to classify the tweets' sentiment as positive (bullish) or negative (bearish). The correlation between the aggregated daily sentiment and daily stock price movement is then investigated using Pearson’s correlation coefficient. Finally, the sentiment information is applied together with time series stock data to predict stock price movement. The experiments on five companies (Apple, Amazon, General Electric, Microsoft, and Target) in a duration of nine months demonstrate the effectiveness of our study in improving the prediction accuracy.

Keywords: machine learning, sentiment analysis, stock price prediction, tweet processing

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Authors: Yu-Wei Chu, Marie Aja-Herrera, Denis Antoine, Mengjie Di

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The purpose of this paper is to explore the innovative perspective of the local traditional culture of garments from different continents. The relationship between the local culture, the indigenous traditional technique of textile manufacture, and modern womenswear will be investigated. This will include exploring and discussing traditional techniques to create textiles reflecting different cultures and relevant handicrafts, including the history of these different peoples and regions. However, along with the improvement of technology, the diversity of culture is usually unified into a single aesthetic element, which makes fashion lack traditional cultural layers. Local cultural awareness has been gradually emerging in womenswear in recent years with the strong sweep of globalization. The possible loss of traditional art and crafts became an awareness for different cultures, who realized the necessity to protect and preserve their individual uniqueness. Modern womenswear is one of the largest markets in the fashion and apparel marketplace. Therefore, the commonalities of traditional textiles and garments for modern womenswear will be researched. Localized traditional fabrics have some elements, such as weaving techniques and other related crafts, in common with more modern manufacturing methods. In addition, the common point of traditional clothing is the use of draping, construction, and fabric manipulation. This paper aims to explore these factors, as discussed above, and also apply, in an innovative and creative manner, some of these traditional arts and crafts to modern womenswear. The combination of textile manipulation and different construction techniques can support the development of innovative womenswear to include a diversity of aesthetics. The main contribution of the paper is to find out the solution to bring local culture into the formal womenswear market with modern aesthetics to realize the ideal of traditional culture reconstruction.

Keywords: traditional culture, modern womenswear, diversity, aesthetics

Procedia PDF Downloads 101

Authors: Kharaishvili Eteri

Abstract:

The article highlights the importance of small and medium-sized enterprises in achieving the goals of sustainable development of the economy and increasing the well-being of the population. The opinion is put forward that it is necessary to adapt the activities of small and medium-sized firms in Georgia to sustainable business models. Therefore, it is important to identify the challenges that will ensure compliance with the goals and requirements of sustainable development of small and mediumsized enterprises. Objectives. The goal of the study is to reveal the challenges of sustainable development in small and medium-sized enterprises in Georgia and to develop recommendations for strategic development opportunities. Methodologies The challenges of sustainable development of small and medium-sized enterprises are investigated with the following methodology: bibliographic research of scientific works and reports of organizations is carried out; Based on the grouping of sustainable development goals, the performance indicators of these goals are studied; Differences with respect to the corresponding indicators of European countries are determined by the comparison method; The matrix scheme establishes the conditions and tools for sustainable development; Challenges of sustainable development are identified by factor analysis. Contributions Trends in the sustainable development of small and medium-sized enterprises are studied from the point of view of economic, social and environmental factors; To ensure sustainability, the conditions and tools for sustainable development are established (certified supply chains and global markets, allocation of financial resources necessary for sustainable development, proper public procurement, highly qualified workforce, etc.); Several main challenges have been identified in the sustainable development of small and medium-sized enterprises, including: limited internal resources; Institutional factors, especially vague and imperfect regulations, bureaucracy; low level of investments; Low level of qualification of human capital and others.

Keywords: small and medium-sized enterprises, sustainable development, conditions of sustainable development, strategic directions of sustainable development.

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Authors: Chomba Kalunga

Abstract:

Many developing countries have a rich endowment of natural resources. Yet, amidst that wealth, living standards remain poor. At the same time, international markets have been surged with an increase in copper prices in the last twenty years. This is a presentation of the findings on the causal economic impact of Zambia’s copper mines, a country located in sub-Saharan Africa endowed with vast copper deposits on living standards using household data from 1996 to 2010, exploiting an episode where the copper prices on the international market were rising. Using an Instrumental Variable approach and controlling for constituency-level and microeconomic factors, the results show a significant impact of copper production on living standards. After splitting the constituencies close to and far away from the nearest mine, the results document that constituencies close to the mines benefited significantly from the increase in copper production, compared to their counterparts through increased levels of employment. Finally, the results are not consistent with the natural resource curse hypothesis; findings show a positive causal relationship between the presence of natural resources and socioeconomic outcomes in less developed countries, particularly for constituencies close to the mines in Zambia. Some key policy implications follow from the findings. The finding that increased copper production led to an increase in employment suggests that, in Zambias’ context, policies that promote local employment may be more beneficial to residents. Meaning that it is government policies that can help improve the living standards were government needs to work towards making this impact more substantial.

Keywords: copper prices, local development, mining, natural resources

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Authors: Nor Azlina Ab.Rahman, Salwana Hassan, Zuraeda Ibrahim, Normah Omar, Jamaliah Said

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Revolution in the business environment has crucial growing changes on most globalized markets. Numerous of organizations are necessitating towards producing more proactive entrepreneurs with a dynamic teams, who can run and steer their business to victory. Revolutionizing on business strategy and entrepreneurial skills, also implementing innovation and practices to enhance its performance is necessary for these organizations to be more cost-efficient and increase their efficiency. The study aims to clarify issues of whether measurement has a positive effect on different aspects of innovation and best practices. The study contributes to the current understanding in three ways; first by presenting the important aspects of organizational innovation and best practices. Second by showing the importance of measurement in promoting different aspects of innovation and best practices. Third is to examine the link between innovation, best practices and sustainability in microfinance. The study has been executed by conducting a qualitative study toward the microfinance industry. A representative of management and employees in each company was selected through an invitation to participate in getting information for data collection purpose in the study. The study contains a comprehensive description of the impacts of measurement on different aspects of innovation and best practices towards sustainability in both microfinance industries and SMEs. Findings from this study shows that performance measurement has positive effects on issues related to innovation and best practices. The measurement for several aspects of innovation and best practices is good potential in microfinance industries. Additionally, measurement on innovation and best practices shows a positively related with each other to enhance organization performance. The study suggests that both academics and practitioners should focus on the development of new methods and practices to describe and scrutinize further understanding for measuring issues which is related to innovation and best practices, in order to better develop innovation and best practices towards sustainability. This effort would not only contribute to firm’s success, but also toward the development of the nation in the developing countries.

Keywords: best practices, innovation, microfinance, sustainability

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Authors: Simran Ballani

Abstract:

The purpose of this paper is to call education professionals to implement etiquette and public speaking skills for preschoolers, primary, middle and higher school students. In this paper the author aims to present importance of etiquette learning and public speaking curriculum for preschoolers, reflect on experiences from implementation of the curriculum and discuss the effect of the said implementation on higher education/global job market. Author’s aim to introduce this curriculum was to provide children with innovative learning and all around development. This training of soft skills at kindergarten level can have a long term effect on their social behaviors which in turn can contribute to professional success once they are ready for campus recruitment/global job markets. Additionally, if preschoolers learn polite, appropriate behavior at early age, it will enable them to become more socially attentive and display good manners as an adult. It is easier to nurture these skills in a child rather than changing bad manners at adulthood. Preschool/Kindergarten education can provide the platform for children to learn these crucial soft skills irrespective of the ethnicity, economic or social background they come from. These skills developed at such early years can go a long way to shape them into better and confident individuals. Unfortunately, accessibility of the etiquette learning and public speaking skill education is not standardized in pre-primary or primary level and most of the time embedding into the kindergarten curriculum is next to nil. All young children should be provided with equal opportunity to learn these soft skills which are essential for finding their place in job market.

Keywords: Early Childhood Learning, , public speaking, , confidence building, , innovative learning

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Authors: Anahita Suri

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Myriad cultures form the warp and weft of the fabric of this world. The last century saw mass migration of people across geographical boundaries, owing to industrialization and globalization. These people took with them their cultures, costumes, traditions, and folklore, which mingled with the local cultures to create something new and place it in a different context to make it contemporary. With the surge in population and growth of the fashion industry, there has been an increasing demand for innovative and individual fashion, from street markets to luxury brands. Exhausted by local influences, designers take inspiration from the so called ‘low’ culture and create artistic products, place it in a different context, and the end-product is categorized as ‘high’ culture. It is challenging as to why a design/culture is ‘high’ or ‘low’. Who decides which works, practices, activities, etc., are ‘high’ and which are ‘low’? The justification for this distinction is often found not in the design itself but the context attached to it. Also, the concept of high/ low is relative to time- what is ‘high’ today can be ‘low’ tomorrow and ‘high’ again the day after. This raises certain concerns. Firstly, it is sad that a culture which offers inspiration is looked down upon as ‘low’ culture. Secondly, it is ironic because the so designated ‘high’ culture is a manipulation of the truth from the authentic ‘low’ culture, which is capable of true expression. When you borrow from a different culture, you pretend to be authentic because you actually are not. Finally, it is important to be aware of crossing cultural boundaries and the context attached to a design/product so as to use it a responsible way that communicates the design without offending anyone. Is it ok for a person’s cultural identity to become another person’s fashion accessory? This essay explores the complex, multi-layered subject of fashion appropriation and aims to provoke debate over cultural ‘borrowing’ and create awareness that commodification of cultural symbols and iconography in fashion is inappropriate and offensive and not the same as ‘celebrating cultural differences’.

Keywords: context, culture, fashion appropriation, inoffensive, responsible

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Authors: Kamen Kirov

Abstract:

In the late 19th and early 20th centuries, Britain dominated global trade and finance in large part due to its maritime superiority. Germany, a land power, sought to undermine Britain’s position as the primary hegemon but ultimately could not challenge Britain’s maritime position or capabilities. This drove Germany to seek alternative strategies to weaken Britain’s position. Notably, it pushed Germany to create a reliable overland link through the Balkans to the Middle East via railroad. This article will seek to draw parallels between the German-British hegemonic conflict of the early 20th century and the Chinese-American hegemonic conflict taking place today using both secondary historical sources and current scholarly discussions of the changing international sphere. In doing so, it will provide useful insights into how China might attempt to outflank American power. The article will demonstrate that in many ways, the strategic positions and approaches of the early-20th century Germany and modern China are similar. Both countries were faced with a vastly superior foe with respect to maritime and economic power, and in both cases, their response was to undermine their rival hegemon by creating new overland infrastructure. Furthermore, in both cases, a major goal of creating new overland links was to gain further access to and control over Middle Eastern energy markets. It seems that in the modern day, China is conducting such a policy on a much grander scale than Germany did in the early 20th century—which may result in negative consequences for the US strategic position.

Keywords: belt and road Initiative, hegemonic conflict, maritime power, realism

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Authors: Teo Yen Nee, Tham Siew Yean, Andrew Kam Jia Yi

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There are growing concerns about the effect of increasing outward foreign direct investment (OFDI) from Malaysia. These concerns emerged when OFDI surpassed inward FDI for the first time in 2007 and in the subsequent years as well. From a theoretical point of view, the effect of OFDI on exports remains inconclusive depending on the types and/or motivations of investment. Therefore, the objective of this paper is to investigate the effect of Malaysia’s OFDI on manufacturing exports, using a reduced form exports model. The manufacturing data used in this study covered 24 manufacturing industries for the period 2003-2010. The manufacturing sector is the fourth largest sector invested by Malaysia’s OFDI abroad. However, this sector is chosen for this study because total manufacturing trade contributed significantly to Malaysia’s economy growth as reflected by its significant share in the country’s gross domestic product (138.7%) in 2013. Furthermore, Malaysia’s exports are dominated by manufacturing goods. Consequently, the drastic increase in OFDI added concerns about its impact on the country’s exports. Since OFDI activities are still relatively new in Malaysia, this study is exploratory in nature due to a lack of firm level data. Using industry level panel data, the value added of this paper is to meet the research gap by examining the effect of Malaysia’s outward FDI on manufacturing exports. Overall, the findings show that lagged inward FDI, technology development, and industry size are found to positive and significantly influence manufacturing exports as compared to other factors. The insignificant impact of OFDI on manufacturing exports suggests market seeking investment is the main form of OFDI from Malaysia and the destination markets are not served by exports before so that there are no new exports created or displacement of exports. While the results show that there is no need to worry about OFDI’s negative impact on exports, policies should be undertaken to encourage OFDI from Malaysia to create new exports for the country.

Keywords: OFDI, manufacturing industries, exports, Malaysia

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Authors: R. T. Aggangan, R. J. Cabangon

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Bamboo is getting worldwide attention over the last 20 to 30 years due to numerous uses and it is regarded as the closest material that can be used as substitute to wood. In the domestic market, high quality bamboo products are sold in high-end markets while lower quality products are generally sold to medium and low income consumers. The global market in 2006 stands at about 7 billion US dollars and was projected to increase to US$ 17 B from 2015 to 2020. The Philippines had been actively producing and processing bamboo products for the furniture, handicrafts and construction industry. It was however in 2010 that the Philippine bamboo industry was formalized by virtue of Executive Order 879 that stated that the Philippine bamboo industry development is made a priority program of the government and created the Philippine Bamboo Industry Development Council (PBIDC) to provide the overall policy and program directions of the program for all stakeholders. At present, the most extensive use of bamboo is for the manufacture of engineered bamboo for school desks for all public schools as mandated by EO 879. Also, engineered bamboo products are used for high-end construction and furniture as well as for handicrafts. Development of cheap adhesives, preservatives, and finishing chemicals from local species of plants, development of economical methods of drying and preservation, product development and processing of lesser-used species of bamboo, development of processing tools, equipment and machineries are the strategies that will be employed to reduce the price and mainstream engineered bamboo products in the local and foreign market. In addition, processing wastes from bamboo can be recycled into fuel products such as charcoal are already in use. The more exciting possibility, however, is the production of bamboo pellets that can be used as a substitute for wood pellets for heating, cooking and generating electricity.

Keywords: bamboo charcoal and light distillates, engineered bamboo, furniture and handicraft industries, housing and construction, pellets

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Authors: Massimiliano Frezza, Sergio Bianchi, Augusto Pianese

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Introduced by Shannon in 1948 in the field of information theory as the average rate at which information is produced by a stochastic set of data, the concept of entropy has gained much attention as a measure of uncertainty and unpredictability associated with a dynamical system, eventually depicted by a stochastic process. In particular, the Shannon entropy measures the degree of order/disorder of a given signal and provides useful information about the underlying dynamical process. It has found widespread application in a variety of fields, such as, for example, cryptography, statistical physics and finance. In this regard, many contributions have employed different measures of entropy in an attempt to characterize the financial time series in terms of market efficiency, market crashes and/or financial crises. The Shannon entropy has also been considered as a measure of the risk of a portfolio or as a tool in asset pricing. This work investigates the theoretical link between the Shannon entropy and the multifractional Brownian motion (mBm), stochastic process which recently is the focus of a renewed interest in finance as a driving model of stochastic volatility. In particular, after exploring the current state of research in this area and highlighting some of the key results and open questions that remain, we show a well-defined relationship between the Shannon (log)entropy and the memory function H(t) of the mBm. In details, we allow both the length of time series and time scale to change over analysis to study how the relation modify itself. On the one hand, applications are developed after generating surrogates of mBm trajectories based on different memory functions; on the other hand, an empirical analysis of several international stock indexes, which confirms the previous results, concludes the work.

Keywords: Shannon entropy, multifractional Brownian motion, Hurst–Holder exponent, stock indexes

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Authors: Babak Mohajeri

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In recent years, the conventional business model of ownership has been changed towards accessibility in a variety of markets. Two trends can be observed in the evolution of this rental-like business model. Firstly, the technological development that enables the emergence of new business models. These new business models increasingly become agile and flexible. For example Spotify, an online music stream company provides consumers access to over millions of music tracks, conveniently through the smartphone, tablet or computer. Similarly, Car2Go, the car sharing company accesses its members with flexible and nearby sharing cars. The second trend is the increasing communication and connections via social networks. This trend enables a shift to peer-to-peer accessibility based business models. Conventionally, companies provide access for their customers to own companies products or services. In peer-to-peer model, nonetheless, companies facilitate access and connection across their customers to use other customers owned property or skills, competencies or services .The is so-called the sharing economy business model. The aim of this study is to investigate into a new and emerging type of the sharing economy model in which role of customers and service providers may dramatically change. This new model is called Collaborative Service Networks. We propose a mechanism for Collaborative Service Networks business model. Uber and Airbnb, two successful growing companies, have been selected for our case studies and their business models are analyzed. Finally, we study the emergence of the collaborative service networks in the manufacturing domain. Our finding results to a new manufacturing paradigm called social manufacturing.

Keywords: sharing economy, collaborative service networks, social manufacturing, manufacturing development

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Authors: Wajih Abbassi, Zouhaier Ben Khelifa

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The present research points towards the empirical validation of three options valuation models, the ad-hoc Black-Scholes model as proposed by Berkowitz (2001), the constant elasticity of variance model of Cox and Ross (1976) and the Kou jump-diffusion model (2002). Our empirical analysis has been conducted on a sample of 26,974 options written on three indexes, the S&P 500, Nasdaq 100 and the Russell 2000 that were negotiated during the year 2007 just before the sub-prime crisis. We start by presenting the theoretical foundations of the models of interest. Then we use the technique of trust-region-reflective algorithm to estimate the structural parameters of these models from cross-section of option prices. The empirical analysis shows the superiority of the Kou jump-diffusion model. This superiority arises from the ability of this model to portray the behavior of market participants and to be closest to the true distribution that characterizes the evolution of these indices. Indeed the double-exponential distribution covers three interesting properties that are: the leptokurtic feature, the memory less property and the psychological aspect of market participants. Numerous empirical studies have shown that markets tend to have both overreaction and under reaction over good and bad news respectively. Despite of these advantages there are not many empirical studies based on this model partly because probability distribution and option valuation formula are rather complicated. This paper is the first to have used the technique of nonlinear curve-fitting through the trust-region-reflective algorithm and cross-section options to estimate the structural parameters of the Kou jump-diffusion model.

Keywords: jump-diffusion process, Kou model, Leptokurtic feature, trust-region-reflective algorithm, US index options

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Authors: P. Larpsomboonchai

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Agro-industry is one of major industries that has strong impacts on national economic incomes, growth, stability, and sustainable development. Moreover, this industry also has strong influences on social, cultural and political issues. Furthermore, this industry, as producing primary and secondary products, is facing challenges from such diverse factors such as demand inconsistency, intense international competition, technological advancements and new competitors. In order to maintain and to improve industry’s competitiveness in both domestics and international markets, science and technology are key factors. Besides hard sciences and technologies, modern industrial engineering concepts such as Just in Time (JIT) Total Quality Management (TQM), Quick Response (QR), Supply Chain Management (SCM) and Lean can be very effective to supportant to increase efficiency and effectiveness of these agricultural products on world stage. Onion is one of Thailand’s major export products which brings back national incomes. But, it also facing challenges in many ways. This paper focused its interests in onion packing process and its related activities such as storage and shipment from one of major packing plant and storage in Mae Wang District, Chiang Mai, Thailand, by applying Toyota Production System (TPS) or Lean concepts, to improve process capability throughout the entire packing and distribution process which will be profitable for the whole onion supply chain. And it will be beneficial to other related agricultural products in Thailand and other ASEAN countries.

Keywords: packing process, Toyota Production System (TPS), lean concepts, waste reduction, lean in agro-industries activities

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Authors: M. F. Nawaz, S. Gul, T. H. Farooq, M. T. Siddiqui, M. Asif, I. Ahmad, N. K. Niazi

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In Pakistan, major demands of fuel wood and timber wood are fulfilled by agroforestry. However, the information regarding economic significance of agroforestry and its productivity in Pakistan is still insufficient and unreliable. Survey of field conditions to examine the agroforestry status at local level helps us to know the future trends and to formulate the policies for sustainable wood supply. The objectives of this research were to examine the actual status and potential of agroforestry and to point out the barriers that are faced by farmers in the adoption of agroforestry. Research was carried out in Chiniot district, Pakistan because it is the famous city for furniture industry that is largely dependent on farm trees. A detailed survey of district Chiniot was carried out from 150 randomly selected farmer respondents using multi-objective oriented and pre-tested questionnaire. It was found that linear tree planting method was more adopted (45%) as compared to linear + interplanting (42%) and/or compact planting (12.6%). Chi-square values at P-value <0.5 showed that age (11.35) and education (17.09) were two more important factors in the quick adoption of agroforestry as compared to land holdings (P-value of 0.7). The major reason of agroforestry adoption was to obtain income, fodder and fuelwood. The most dominant species in farmlands was shisham (Dalbergia sissoo) but since last five years, mostly farmers were growing Sufeida (Eucalyptus camaldulensis), kikar (Acacia nilotica) and popular (Populus deltoides) on their fields due to “Shisham die-back” problem. It was found that agro-forestry can be increased by providing good quality planting material to farmers and improving wood markets.

Keywords: agroforestry, trees, services, agriculture, farmers

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Authors: Hela Fathallah

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With 6,500 spoken languages all over the world but 80 percent of online content available only in 10 languages – English, Chinese, Spanish, Japanese, Arabic, Portuguese, German, French, Russian, and Korean – language represents a barrier to the universal access to knowledge, information and services that the internet wants to provide. Translation and its related fields of localization, interpreting, globalization, and internationalization, remove that barrier for billions of people worldwide, unlocking new markets for technology companies, mobile device makers, service providers and language vendors as well. This paper gathers different surveys conducted in different regions of the world that demonstrate a growing demand for consumption of web content with distinctive values and in languages others than the aforementioned ones. It also adds new insights to the contribution of translation in languages preservation. The idea that English is the language of internet and that, in a globalized world, everyone should learn English to cope with new technologies is no longer true. This idea has reached its limits. It collides with cultural diversity and differences around the world and generates an accelerated rate of languages extinction. Studies prove that internet exacerbates this rate and web giants such as Facebook or Google are, today, facing the impact of such a misconception of globalization. For internet and dot-com companies, localization is the solution; they are spending a significant amount of time to understand what people want and to figure out how to provide it. They are committed to making their content accessible, if not in all the languages spoken today, at least in most of them, and to adapting it to most cultures. Technology has broken down the barriers of time and space, and it will break down the language barrier as well by undertaking a process of translation and localization and through a new definition of globalization that takes into consideration these two processes.

Keywords: globalization, internet, localization, translation

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Authors: Molnar Catalina, Lexi Frankel, Amalia Ardeljan, Enoch Kim, Marissa Dallara, Omar Rashid

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Introduction: Clostridium difficile (C. diff) is a toxin-producing bacteria that can cause diarrhea and colitis. U.S. Center for Disease Control and Prevention revealed that C. difficile infection (CDI) has increased from 31 cases per 100,000 persons per year in 1996 to 61 per 100,000 in 2003. Approximately 500,000 cases per year occur in the United States. After exposure, the bacteria colonize the colon, where it adheres to the intestinal epithelium where it produces two toxins: TcdA and TcdB. TcdA affects the intestinal epithelium, causing fluid secretion, inflammation, and tissue necrosis, while TcdB acts as a cytotoxin purpose of this study was to evaluate the association between C diff infection and bronchial lung cancer development. Methods: Using ICD- 9 and ICD-10 codes, the data was provided by a Health Insurance Portability and Accountability Act (HIPAA) compliant national database to assess the patients infected with C diff as opposed to the non-infected patients. The Holy Cross Health, Fort Lauderdale, granted access to the database for the purpose of academic research. Patients were matched for age and Charlson Comorbidity Index (CCI). Standard statistical methods were used. Results: Bronchial lung cancer occurrence in the population not infected with C diff infection was 4741, as opposed to the population infected with C. diff, where 2039 cases of lung cancer were observed. The difference was statistically significant (p-value < 2.2x10^e-16), which reveals that C diff might be protective against bronchial lung cancer. The data was then matched by treatment to create to minimize the effect of treatment bias. Bronchial cancer incidence was 422 and 861 in infected vs. non-infected (p-value of < 2.2x10^e-16), which once more indicates that C diff infection could be beneficial in diminishing bronchial cancer development. Conclusion: This retrospective study conveys a statistical correlation between C diff infection and decreased incidence of lung bronchial cancer. Further studies are needed to comprehend the protective mechanisms of C. Diff infection on lung cancer.

Keywords: C. diff, lung cancer, protective, microbiology

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Authors: Sajjad Esmaeili Aghdam

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Economics typically conceptualizes individual behavior as the consequence of external states, for example, budgets and prices (or respective beliefs) and choices. As the main goal, we focus on the influence of a range of Behavioral Economics factors on Strategies of Digital Marketing, evaluation of strategies and deformation of it into highly prospective marketing strategies. The different forms of behavioral prospects all lead to the succeeding two main results. First, the steadiness of the economic dynamics in a currency union be contingent fatefully on the level of economic incorporation. More economic incorporation leads to more steady economic dynamics. Electronic word-of-mouth (eWOM) is “all casual communications focused at consumers through Internet-based technology connected to the usage or characteristics of specific properties and services or their venders.” eWOM can take many methods, the most significant one being online analyses. Writing this paper, 72 articles have been gathered, focusing on the title and the aim of the article from research search engines like Google Scholar, Web of Science, and PubMed. Recent research in strategic management and marketing proposes that markets should not be viewed as a given and deterministic setting, exogenous to the firm. Instead, firms are progressively abstracted as dynamic inventors of market prospects. The use of new technologies touches all spheres of the modern lifestyle. Social and economic life becomes unbearable without fast, applicable, first-class and fitting material. Psychology and economics (together known as behavioral economics) are two protruding disciplines underlying many theories in marketing. The wide marketing works papers consumers’ none balanced behavior even though behavioral biases might not continuously be steadily called or officially labeled.

Keywords: behavioral economics, digital marketing, marketing strategy, high impact strategies

Procedia PDF Downloads 164