Search results for: maritime companies

Authors: Md. Abdul Kader, Md. Akiz Uddin

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The Islamic banking system is based on the Islamic shariah principles. Islamic banking is set up to avoid riba (interest)--which is prohibited in Islam-- and to prevent unscrupulous practices and participate actively in achieving the welfare-oriented Islamic economy. In the process of offering Islamic banking services, practitioners have been facing several challenges. Out of many challenges, this paper particularly highlights the need for a centralized legal framework for Islamic banks that should be compliant with the shariah law. The researchers employed a qualitative method to collect case studies from high-profile Islamic Bankers and analyzed respective legal documents and policy papers to conduct the study. This study investigates the Shariah Governance Framework (SGF), amended Banking Companies Act, 1991 (Act No. 14 of 1991), and the Shariah Supervisory Board (SSB) of Islamic banks in Bangladesh to evaluate how legal framework supervise and/or monitor Islamic banking system under the jurisdiction of shariah law. The study reveals that the Shariah governance system in Bangladesh is mainly voluntary rather than regulatory, and there is an absence of full-fledged SGF. Though there is no complete Islamic Banking Act for controlling, guiding, and supervising the Islamic banks in Bangladesh, some Islamic banking provisions have already been incorporated in the amended Banking Companies Act, 1991 (Act No. 14 of 1991). Bangladesh Bank did not set up any separate Department at its Head Office to control, guide and supervise the operation of the Islamic banks. So, ensuring the implementation of Shariah principles concurrent with the legal framework of banking policies is recommended in this study. This study also prescribes that the government should enact a law or policy for the operations of Islamic banks in order to improve the Islamic Banking system of Bangladesh. In addition, the central bank can set up a Central Shariah Supervisory Board (CSSB) or authorize the existing Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) to supervise and monitor overall activities of Islamic banks and resolve the disputes among the stakeholders concerning the Shariah issues of Islamic banks.

Keywords: islamic banking, shariah law, banking policies, shariah governance framework (SGF)

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Authors: Albert W. K. Tan

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This research consolidates a comprehensive array of publications from peer-reviewed journals, case studies, and seminar reports focused on reverse logistics and network design. By synthesizing this secondary knowledge, our objective is to identify and articulate key decision factors crucial to reverse logistics network design for e-commerce. Through this exploration, we aim to present a refined mathematical model that offers valuable insights for companies seeking to optimize their reverse logistics operations. The primary goal of this research endeavor is to develop a comprehensive framework tailored to advising organizations and companies on crafting effective networks for their reverse logistics operations, thereby facilitating the achievement of their organizational goals. This involves a thorough examination of various network configurations, weighing their advantages and disadvantages to ensure alignment with specific business objectives. The key objectives of this research include: (i) Identifying pivotal factors pertinent to network design decisions within the realm of reverse logistics across diverse supply chains. (ii) Formulating a structured framework designed to offer informed recommendations for sound network design decisions applicable to relevant industries and scenarios. (iii) Propose a mathematical model to optimize its reverse logistics network. A conceptual framework for designing a reverse logistics network has been developed through a combination of insights from the literature review and information gathered from company websites. This framework encompasses four key stages in the selection of reverse logistics operations modes: (1) Collection, (2) Sorting and testing, (3) Processing, and (4) Storage. Key factors to consider in reverse logistics network design: I) Centralized vs. decentralized processing: Centralized processing, a long-standing practice in reverse logistics, has recently gained greater attention from manufacturing companies. In this system, all products within the reverse logistics pipeline are brought to a central facility for sorting, processing, and subsequent shipment to their next destinations. Centralization offers the advantage of efficiently managing the reverse logistics flow, potentially leading to increased revenues from returned items. Moreover, it aids in determining the most appropriate reverse channel for handling returns. On the contrary, a decentralized system is more suitable when products are returned directly from consumers to retailers. In this scenario, individual sales outlets serve as gatekeepers for processing returns. Considerations encompass the product lifecycle, product value and cost, return volume, and the geographic distribution of returns. II) In-house vs. third-party logistics providers: The decision between insourcing and outsourcing in reverse logistics network design is pivotal. In insourcing, a company handles the entire reverse logistics process, including material reuse. In contrast, outsourcing involves third-party providers taking on various aspects of reverse logistics. Companies may choose outsourcing due to resource constraints or lack of expertise, with the extent of outsourcing varying based on factors such as personnel skills and cost considerations. Based on the conceptual framework, the authors have constructed a mathematical model that optimizes reverse logistics network design decisions. The model will consider key factors identified in the framework, such as transportation costs, facility capacities, and lead times. The authors have employed mixed LP to find the optimal solutions that minimize costs while meeting organizational objectives.

Keywords: reverse logistics, supply chain management, optimization, e-commerce

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Authors: Eric Wilson Santos Cabral, Marta Monteiro Da Costa Cruz, Rodrigo Pirola Pestana, Vivian Andréa Parreira

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In the transportation sector in Brazil, there is a great challenge that is the maintenance of profit in the face of the great variation in the price of diesel. This directly affects the variable cost of transport companies. Within the railways, part of the great challenges is to overcome the annual budget, cargo and ore transported, thus reducing costs compared to previous years, becoming more efficient each year. Within this scenario, the railway companies are looking for effective measures, aiming at reducing the ratio of liter of diesel consumed by KTKB (Kilometer Gross Ton multiplied by thousand). This ratio represents the indicator of energy efficiency of some railroads in Brazil and in other countries. In this study, we sought to analyze the behavior of the energy efficiency indicator on two parts: The first, with the application of technologies used in locomotives, such as the start-stop system of the diesel engine and the system of tracking and monitoring of fuel. The second, evaluation of the behavior of the variation of the type of cargo transported (loading mix). The study focused on locomotive technology will be carried out using statistical analysis, behavioral evaluation in different operating conditions, such as maneuvers for trains, service trains and freight trains. The analysis will also cover the evaluation of the loading mix made using statistical analysis of the existing railroad database, comparing the energy efficiency per loading mine and type of product. With the completion of this study, the railway undertakings should be able to better target decision-making in order to achieve substantial reductions in transport costs.

Keywords: railway transport, energy efficiency, railway technology, fuel consumption

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Authors: Beata Ślusarczyk, Sebastian Kot

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In subjective terms, Polish SME sector occupies a prominent position in the national economic development, in which planning of the management strategies should be primarily based on identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry. SMEs share in printing sector in Poland is estimated at the level of 81% of all enterprises. In recent years, the printing industry achieved one of the highest levels of EU support in Poland. There is a relatively high increase in the development of technological innovations in equipment and the associated significant increase in production capacity. It can be also noticed that on average, every third enterprise belonging to the printing industry has implemented innovations, but not all of them effected in better economic results. Therefore, the aim of this article is to evaluate the impact of the implementation of innovation projects financed from the EU funds for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the development of innovation in the printing industry, it was specified that examined SMEs prefer to implement product innovation to receive a grant to the project at a level between 40% to 60%, the remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single implementation, related only to the change in process, technology, or organization. The relationship between variables of the EU funds and management of innovative activities was verified. It has been observed that the identified variables arising from the support in a form of the EU funds had a positive effect on the level of earned revenue, the increase in margin and in increase in employment as well. It was confirmed that the implemented innovations supported by the European funds have a positive impact on the performance of the printing companies. Although there is a risk that due to the decreasing demand for printing services such a high level of funding the companies in this sector will significantly increase competition in the long term, that may also contribute to the economic problems of the enterprises belonging to the analyzed branch.

Keywords: innovations, SMEs, performance, results

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Authors: Chen Shuwen, Nunthapin Chantachaimongkol

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Since the world has moved into a transitional period, known as globalization; the business environment is now more complicated than ever before. Corporate information has become a matter of great importance for stakeholders, in order to understand the current situation. As a result of this, the concept of corporate governance has been broadly introduced to manage and control the affairs of corporations while businesses are required to disclose both financial and non-financial information to public via various communication channels such as the annual report, the financial report, the company’s website, etc. However, currently there are several other issues related to asymmetric information such as moral hazard or adverse selection that still occur intensively in workplaces. To prevent such problems in the business, it is required to have an understanding of what factors strengthen their transparency, accountability, fairness, and responsibility. Under aforementioned arguments, this paper aims to propose a conceptual framework that enables an investigation on how corporate governance mechanism influences disclosure efficiency of listed companies in the Association of Southeast Asia Nations (ASEAN) and the factors that should be considered for further development of good behaviors, particularly in regards to voluntary disclosure practices. To achieve its purpose, extensive reviews of literature are applied as a research methodology. It is divided into three main steps. Firstly, the theories involved with both corporate governance and disclosure practices such as agency theory, contract theory, signaling theory, moral hazard theory, and information asymmetry theory are examined to provide theoretical backgrounds. Secondly, the relevant literatures based on multi- perspectives of corporate governance, its attributions and their roles on business processes, the influences of corporate governance mechanisms on business performance, and the factors determining corporate governance characteristics as well as capability are reviewed to outline the parameters that should be included in the proposed model. Thirdly, the well-known regulatory document OECD principles and previous empirical studies on the corporate disclosure procedures are evaluated to identify the similarities and differentiations with the disclosure patterns in the ASEAN. Following the processes and consequences of the literature review, abundant factors and variables are found. Further to the methodology, additional critical factors that also have an impact on the disclosure behaviors are addressed in two groups. In the first group, the factors which are linked to the national characteristics - the quality of national code, legal origin, culture, the level of economic development, and so forth. Whereas in the second group, the discoveries which refer to the firm’s characteristics - ownership concentration, ownership’s rights, controlling group, and so on. However, because of research limitations, only some literature are chosen and summarized to form part of the conceptual framework that explores the relationship between corporate governance and the disclosure practices of listed companies in ASEAN.

Keywords: corporate governance, disclosure practice, ASEAN, listed company

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Authors: Thalia Viveros-Uehara

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The virtues of Corporate Social Responsibility (CSR) are explored widely in the academic literature. However, few studies address its link to human rights, per se; specifically, the right to a safe, clean and healthy environment. Fewer still are the research works in this area that relate to developing countries, where a number of areas are biodiversity hotspots. In Mexico, despite the rise and evolution of CSR schemes, grave episodes of pollution persist, especially those caused by the mining industry. These cases set up the question of the correspondence between the current CSR practices of mining companies in the country and their responsibility to respect the right to a safe, clean and healthy environment. The present study approaches precisely such a bridge, which until now has not been fully tackled in light of Mexico's 2011 constitutional human rights amendment and the United Nation's Guiding Principles on Business and Human Rights (UN Guiding Principles), adopted by the Human Rights Council in 2011. To that aim, it initially presents a contextual framework; it then explores qualitatively the adoption of human rights’ language in the CSR strategies of the three main mining companies in Mexico, and finally, it examines their standing with respect to the UN Guiding Principles. The results reveal that human rights are included in the RSE strategies of the analysed businesses, at least at the rhetoric level; however, they do not embrace the right to a safe, clean and healthy environment as such. Moreover, we conclude that despite the finding that corporations publicly express their commitment to respect human rights, some operational weaknesses that hamper the exercise of such responsibility persist; for example, the systematic lack of human rights impact assessments per mining unit, the denial of actual and publicly-known negative episodes on the environment linked directly to their operations, and the absence of effective mechanisms to remediate adverse impacts.

Keywords: corporate social responsibility, environmental impacts, human rights, right to a safe, clean and healthy environment, mining industry

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Authors: Y. Smirlis, G. Koronakos, S. Plitsos

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Shipbrokers assist the ship companies in chartering or selling and buying vessels, acting as intermediates between them and the market. They facilitate deals, providing their expertise, negotiating skills, and knowledge about ship market bargains. Their role is very important as it affects the profitability and market position of a shipping company. Due to their significant contribution, the shipping companies have to employ systematic procedures to evaluate the shipbrokers’ services in order to select the best and, consequently, to achieve the best deals. Towards this, in this paper, we consider shipbrokers as financial service providers, and we formulate the problem of evaluating and selecting shipbrokers’ services as a multi-criteria decision making (MCDM) procedure. The proposed methodology comprises a first normalization step to adjust different scales and orientations of the criteria and a second step that includes the mathematical model to evaluate the performance of the shipbrokers’ services involved in the assessment. The criteria along which the shipbrokers are assessed may refer to their size and reputation, the potential efficiency of the services, the terms and conditions imposed, the expenses (e.g., commission – brokerage), the expected time to accomplish a chartering or selling/buying task, etc. and according to our modelling approach these criteria may be assigned different importance. The mathematical programming model performs a comparative assessment and estimates for the shipbrokers involved in the evaluation, a relative score that ranks the shipbrokers in terms of their potential performance. To illustrate the proposed methodology, we present a case study in which a shipping company evaluates and selects the most suitable among a number of sale and purchase (S&P) brokers. Acknowledgment: This study is supported by the OptiShip project, implemented within the framework of the National Recovery Plan and Resilience “Greece 2.0” and funded by the European Union – NextGenerationEU programme.

Keywords: shipbrokers, multi-criteria decision making, mathematical programming, service-provider selection

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Authors: Maria Reznakova, Michala Strnadova, Lukas Reznak

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Successful achievement of strategic goals requires an effective performance management system, i.e. determining the appropriate indicators measuring the rate of goal achievement. Assuming that the goal of the owners is to grow the assets they invested in, it is vital to identify the key performance indicators, which contribute to value creation. These indicators are known as value drivers. Based on the undertaken literature search, a value driver is defined as any factor that affects the value of an enterprise. The important factors are then monitored by both financial and non-financial indicators. Financial performance indicators are most useful in strategic management, since they indicate whether a company's strategy implementation and execution are contributing to bottom line improvement. Non-financial indicators are mainly used for short-term decisions. The identification of value drivers, however, is problematic for companies which are not publicly traded. Therefore financial ratios continue to be used to measure the performance of companies, despite their considerable criticism. The main drawback of such indicators is the fact that they are calculated based on accounting data, while accounting rules may differ considerably across different environments. For successful enterprise performance management it is vital to avoid factors that may reduce (or even destroy) its value. Among the known factors reducing the enterprise value are the lack of capital, lack of strategic management system and poor quality of production. In order to gain further insight into the topic, the paper presents results of the research identifying factors that adversely affect the performance of mechanical engineering enterprises in the Czech Republic. The research methodology focuses on both the qualitative and the quantitative aspect of the topic. The qualitative data were obtained from a questionnaire survey of the enterprises senior management, while the quantitative financial data were obtained from the Analysis Major Database for European Sources (AMADEUS). The questionnaire prompted managers to list factors which negatively affect business performance of their enterprises. The range of potential factors was based on a secondary research – analysis of previously undertaken questionnaire surveys and research of studies published in the scientific literature. The results of the survey were evaluated both in general, by average scores, and by detailed sub-analyses of additional criteria. These include the company specific characteristics, such as its size and ownership structure. The evaluation also included a comparison of the managers’ opinions and the performance of their enterprises – measured by return on equity and return on assets ratios. The comparisons were tested by a series of non-parametric tests of statistical significance. The results of the analyses show that the factors most detrimental to the enterprise performance include the incompetence of responsible employees and the disregard to the customers‘ requirements.

Keywords: business value, financial ratios, performance measurement, value drivers

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Authors: Burak Oksuzoglu, Savas Yildirim, Ferhat Kutlu

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Opinion mining (OM) is one of the natural language processing (NLP) problems to determine the polarity of opinions, mostly represented on a positive-neutral-negative axis. The data for OM is usually collected from various social media platforms. In an era where social media has considerable control over companies’ futures, it’s worth understanding social media and taking actions accordingly. OM comes to the fore here as the scale of the discussion about companies increases, and it becomes unfeasible to gauge opinion on individual levels. Thus, the companies opt to automize this process by applying machine learning (ML) approaches to their data. For the last two decades, OM or sentiment analysis (SA) has been mainly performed by applying ML classification algorithms such as support vector machines (SVM) and Naïve Bayes to a bag of n-gram representations of textual data. With the advent of deep learning and its apparent success in NLP, traditional methods have become obsolete. Transfer learning paradigm that has been commonly used in computer vision (CV) problems started to shape NLP approaches and language models (LM) lately. This gave a sudden rise to the usage of the pretrained language model (PTM), which contains language representations that are obtained by training it on the large datasets using self-supervised learning objectives. The PTMs are further fine-tuned by a specialized downstream task dataset to produce efficient models for various NLP tasks such as OM, NER (Named-Entity Recognition), Question Answering (QA), and so forth. In this study, the traditional and modern NLP approaches have been evaluated for OM by using a sizable corpus belonging to a large private company containing about 76,000 comments in Turkish: SVM with a bag of n-grams, and two chosen pre-trained models, multilingual universal sentence encoder (MUSE) and bidirectional encoder representations from transformers (BERT). The MUSE model is a multilingual model that supports 16 languages, including Turkish, and it is based on convolutional neural networks. The BERT is a monolingual model in our case and transformers-based neural networks. It uses a masked language model and next sentence prediction tasks that allow the bidirectional training of the transformers. During the training phase of the architecture, pre-processing operations such as morphological parsing, stemming, and spelling correction was not used since the experiments showed that their contribution to the model performance was found insignificant even though Turkish is a highly agglutinative and inflective language. The results show that usage of deep learning methods with pre-trained models and fine-tuning achieve about 11% improvement over SVM for OM. The BERT model achieved around 94% prediction accuracy while the MUSE model achieved around 88% and SVM did around 83%. The MUSE multilingual model shows better results than SVM, but it still performs worse than the monolingual BERT model.

Keywords: BERT, MUSE, opinion mining, pretrained language model, SVM, Turkish

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Authors: Aisha Tarek Noour, Nick Hubbard

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Blended e-Learning (BL) is proving to be an effective pedagogical tool in many areas of business and management education, but there remains a number of barriers to overcome before its implementation. This paper seeks to analyse the views of lecturers towards BL according to Self-Determination Theory (SDT), and identifies the opportunities and challenges for using BL in Logistics Education in an Egyptian higher education establishment. SDT is approached from a different perspective and the relationship between intrinsic motivation (IM), extrinsic motivation (EM), and amotivation (AM) is analysed and related to the opportunities and challenges of the BL method. The case study methodology comprises of a series of interviews with lecturers employed at three Colleges of International Transport and Logistics (CITLs) at the Arab Academy for Science, Technology, Maritime and Transport (AAST&MT) in Egypt. A structured face-to-face interview was undertaken with 61 interviewees across all faculty positions: Deans, Associate Professors, Assistant Professor, Department Heads, Part-time instructors, Teaching Assistants, and Graduate Teaching Assistants. The findings were based on "content analysis" of the interview transcripts and use of the NVivo10 software program. The research contributes to the application of SDT within the field of BL through an analysis of the views of lecturers towards the opportunities and challenges that BL offers to logistics educators in Egypt.

Keywords: intrinsic motivation, extrinsic motivation, amotivation, autonomy, competence, relatedness, self-determination theory and blended e-learning

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Authors: Csaba Barnabas Horvath

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The Belt and Road initiative of China is one that can change the face of Eurasia as we know it. Instead of four major, densely populated subcontinents defined by Mackinder (East Asia, Europe, the Indian Subcontinent, and the Middle East) isolated from each other by vast, sparsely populated and underdeveloped regions, it can at last start to function as a geographic whole, with a sophisticated infrastructure linking its different parts to each other. This initiative, however, happens not in a geopolitical vacuum, but in a space of conflicting great power interests. In Central Asia, the influence of China and Russia are in a setting of competition, where despite the cooperation between the two powers to a great degree, issues causing mutual mistrust emerge repeatedly. In Afghanistan, besides western military presence, even India’s efforts can be added to the picture. In Southeast Asia, a key region regarding the maritime Silk Road, India’s Act East policy meets with China’s Belt and Road, not always in consensus, not to mention US and Japanese interests in the region. The presentation aims to take an overview on how conflicting great power interests are likely to influence the outcome of the Belt and Road initiative. The findings show, that overall success of the Belt and Road Initiative may not be as smooth, as hoped by China, but at the same time, in a limited number of strategically important countries (such as Pakistan, Laos, and Cambodia), this setting is actually a factor favoring China, providing at least a selected number of reliable corridors, where the initiative is actually likely to be successful.

Keywords: belt and road initiative, geostrategic corridors, geopolitics, great power rivalry

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Authors: Fatemeh Jaferi, Moslem Parsa, Heshmatolah Shams Khorramabadi

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In this modern fluctuating world, organizations need to outsource some parts of their activities (project) to providers in order to show a quick response to their changing requirements. In fact, a number of companies and institutes have contractors do their projects and have some specific criteria in contractor selection. Therefore, a set of scientific tools is needed to select the best contractors to execute the project according to appropriate criteria. Multi-criteria decision making (MCDM) has been employed in the present study as a powerful tool in ranking and selecting the appropriate contractor. In this study, devolving second-source (civil) project to contractors in the National Gas Company of Lorestan Province (Iran) has been found and therefore, 5 civil companies have been evaluated. Evaluation criteria include executive experience, qualification of technical staff, good experience and company's rate, technical interview, affordability, equipment and machinery. Criteria's weights are found through experts' opinions along with AHP and contractors ranked through TOPSIS and AHP. The order of ranking contractors based on MCDM methods differs by changing the formula in the study. In the next phase, the number of criteria and their weights has been sensitivity analysed through using AHP. Adding each criterion changed contractors' ranking. Similarly, changing weights resulted in a change in ranking. Adopting the stated strategy resulted in the facts that not only is an appropriate scientific method available to select the most qualified contractors to execute gas project, but also a great attention is paid to picking needed criteria for selecting contractors. Consequently, executing such project is undertaken by most qualified contractors resulted in optimum use of limited resource, accelerating the implementation of project, increasing quality and finally boosting organizational efficiency.

Keywords: multi-criteria decision making, project, management, contractor selection, gas company

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Authors: Franziska Mais, Till Gramberg

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The paper presents the development of a sustainable business model for a platform-based application tailored for sawing companies in small and medium-sized enterprises (SMEs). The focus is on the integration of sustainability principles into the design of the business model to ensure a technologically advanced, legally sound, and economically efficient solution. Easy2IoT is a research project that aims to enable companies in the prefabrication sheet metal and sheet metal processing industry to enter the Industrial Internet of Things (IIoT) with a low-threshold and cost-effective approach. The methodological approach of Easy2IoT includes an in-depth requirements analysis and customer interviews with stakeholders along the value chain. Based on these insights, actions, requirements, and potential solutions for smart services are derived. The structuring of the business ecosystem within the application plays a central role, whereby the roles of the partners, the management of the IT infrastructure and services, as well as the design of a sustainable operator model are considered. The business model is developed using the value proposition canvas, whereby a detailed analysis of the requirements for the business model is carried out, taking sustainability into account. This includes coordination with the business model patterns, according to Gassmann, and integration into a business model canvas for the Easy2IoT product. Potential obstacles and problems are identified and evaluated in order to formulate a comprehensive and sustainable business model. In addition, sustainable payment models and distribution channels are developed. In summary, the article offers a well-founded insight into the systematic development of a sustainable business model for platform-based applications in SME sawmills, with a particular focus on the synergy of ecological responsibility and economic efficiency.

Keywords: business model, sustainable business model, IIoT, IIoT-platform, industrie 4.0, big data

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Authors: Sedef Sert, Paola Garrone, Marco Melacini, Alessandro Perego

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This paper is aimed at enhancing our current understanding of motivations behind corporate in-kind donations and to find out whether economic efficiency may be a major driver. Our empirical setting is consisted of surplus food recovery and donation by companies from food supply chain. This choice of empirical setting is motivated by growing attention on the paradox of food insecurity and food waste i.e. a total of 842 million people worldwide were estimated to be suffering from regularly not getting enough food, while approximately 1.3 billion tons per year food is wasted globally. Recently, many authors have started considering surplus food donation to nonprofit organizations as a way to cope with social issue of food insecurity and environmental issue of food waste. In corporate philanthropy literature the motivations behind the corporate donations for social purposes, such as altruistic motivations, enhancements to employee morale, the organization’s image, supplier/customer relationships, local community support, have been examined. However, the relationship with economic efficiency is not studied and in many cases the pure economic efficiency as a decision making factor is neglected. Although in literature there are some studies give us the clue on economic value creation of surplus food donation such as saving landfill fees or getting tax deductions, so far there is no study focusing deeply on this phenomenon. In this paper, we develop a conceptual framework which explores the economic barriers and drivers towards alternative surplus food management options i.e. discounts, secondary markets, feeding animals, composting, energy recovery, disposal. The case study methodology is used to conduct the research. Protocols for semi structured interviews are prepared based on an extensive literature review and adapted after expert opinions. The interviews are conducted mostly with the supply chain and logistics managers of 20 companies in food sector operating in Italy, in particular in Lombardy region. The results shows that in current situation, the food manufacturing companies can experience cost saving by recovering and donating the surplus food with respect to other methods especially considering the disposal option. On the other hand, retail and food service sectors are not economically incentivized to recover and donate surplus food to disfavored population. The paper shows that not only strategic and moral motivations, but also economic motivations play an important role in managerial decision making process in surplus food management. We also believe that our research while rooted in the surplus food management topic delivers some interesting implications to more general research on corporate in-kind donations. It also shows that there is a huge room for policy making favoring the recovery and donation of surplus products.

Keywords: corporate philanthropy, donation, recovery, surplus food

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Authors: Li Chin Law, Epaminondas Mastorakos, Mohd Roslee Othman, Antonis Trakakis

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The paper introduces an alternative concept of carbon capture for shipping by using pre-combustion carbon capture technology (Pre-CCS), which was proven to be less energy intensive than post-combustion carbon capture from the engine exhaust. Energy assessment on amine-based post-combustion CCS on LNG-fuelled ships showed that the energy efficiency of CCS ships reduced from 48% to 36.6%. Then, an energy assessment was carried out to compare the power and heat requirements of the most used hydrogen production methods and carbon capture technologies. Steam methane reformer (SMR) was found to be 20% more energy efficient and achieved a higher methane conversion than auto thermal reaction and methane decomposition. Next, pressure swing adsorber (PSA) has shown a lower energy requirement than membrane separation, cryogenic separation, and amine absorption in pre-combustion carbon capture. Hence, an integrated system combining SMR and PSA (SMR-PSA) with waste heat integration (WHR) was proposed. This optimized SMR-based integrated system has achieved 65% of CO₂ reduction with less than 7-percentage point of energy penalty (41.7% of energy efficiency). Further integration of post-combustion CCS with the SMR-PSA integrated system improved carbon capture rate to 86.3% with 9-percentage points of energy penalty (39% energy efficiency). The proposed system was shown to be able to meet the carbon reduction targets set by International Maritime Organization (IMO) with certain energy penalties.

Keywords: shipping, decarbonisation, alternative fuels, low carbon, hydrogen, carbon capture

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Authors: Mustafa Avsever

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Throughout history, states have attached great importance to seas in terms of economic and security. Advanced civilizations have always founded in coastal regions. Over time, human being has tended to trade and naturally always aimed get more and more. Seas by covering 71% of the earth, provide the greatest economic opportunities for access to raw material resources and the world market. As a result, seas have become the most important areas of conflict over the course of time. Coastal states, use seas as a tool for defense zone, trade, marine transportation and power transfer, they have acquired colonies overseas and increased their capital, raw materials and labor. Societies, have increased their economic prosperity, though their navies in order to retain their welfare and achieve their foreign policy objectives. Sometimes they have imposed their demands through the use or threat of limited naval force in accordance with their interests that is gunboat diplomacy. Today we can see samples of gunboat diplomacy used in the Eastern Mediterranean, during Ukraine crisis, in dispute between North Korea and South Korea and the ongoing power struggle in Asia-Pacific. Gunboat diplomacy has been and continues to be applied consistently in solving problems by the stronger side of the problem. The purpose of this article is to examine using navy under the gunboat diplomacy as an active instrument of foreign policy and security policy and reveal the strategic sea areas in which gunboat diplomacy is used effectively in the matrix of international politics in the 21st century.

Keywords: gunboat diplomacy, maritime strategy, sea power, strategic sea lands

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Authors: Geetanjali Sharma

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There are always provincial variations which deserve more detailed treatment. Before the arrival of modern era, geography and cultural homogeneity were determining factors of human habitat and migration. Boundaries as if we see them, did not exist earlier. The connectivity of the world was also different as of now. The reinforcement of the old silk route will improve economic cooperation and connectivity between Asian, European and African countries, but obviously, it is designed to improve China’s geopolitical and geostrategic position in the world. The paper is based on the secondary sources of data. Analytical and historical approach has been used to clarify the ties between the old silk routes and new One-Belt-One-Road initiative China. The paper begins with an explanation of the historical background of the old Silk Route, its origin and development, trailed by an analysis of latest declarations by the Chinese leaders to revive it. It also discusses the impacts of this initiative on India’s economy and cultural exchange between associated regions. Lastly, the paper sums up the findings and suggestions for keeping a balance between the security and economic relationship between the countries. It concludes that the silk route is an effort in commencing a ‘grand strategy’ for global trade and cooperation with hidden objectives of China to increase the investment of China in other continents as well. The revival of silk route may prove to be a very helpful in reinforcing cooperation and raising it to a new level of economic establishments. However, China has yet to promote the much-needed political and strategic trust.

Keywords: OBOR (One-Belt-One-Road), geopolitics, economic relation, security concerns

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Authors: Reza Heidari, Maryam Amiri

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In a technological world, many countries have a tendency to fortifying their companies and technological infrastructures. Also, one of the most important requirements for developing technology is innovation, and then, all companies are struggling to consider innovation as a basic principle. Since, the expansion of a product need to combine different technologies, therefore, different innovative projects would be run in the firms as a base of technology development. In such an environment, enterprise resource planning (ERP) has special significance in order to develop and strengthen of innovations. In this article, an economic-probabilistic analysis was provided to perform an implementation project of ERP in the technological innovation (TI) based firms. The used model in this article assesses simultaneously both risk and economic analysis in view of the probability of each event that is jointly between economical approach and risk investigation approach. To provide an economic-probabilistic analysis of risk of the project, activities and milestones in the cash flow were extracted. Also, probability of occurrence of each of them was assessed. Since, Resources planning in an innovative firm is the object of this project. Therefore, we extracted various risks that are in relation with innovative project and then they were evaluated in the form of cash flow. This model, by considering risks affecting the project and the probability of each of them and assign them to the project's cash flow categories, presents an adjusted cash flow based on Net Present Value (NPV) and with probabilistic simulation approach. Indeed, this model presented economic analysis of the project based on risks-adjusted. Then, it measures NPV of the project, by concerning that these risks which have the most effect on technological innovation projects, and in the following measures probability associated with the NPV for each category. As a result of application of presented model in the information and communication technology (ICT) industry, provided an appropriate analysis of feasibility of the project from the point of view of cash flow based on risk impact on the project. Obtained results can be given to decision makers until they can practically have a systematically analysis of the possibility of the project with an economic approach and as moderated.

Keywords: cash flow categorization, economic evaluation, probabilistic, risk assessment, technological innovation

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Authors: Waqas Ali, Nadeem Majeed

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Requirement engineering is an essence of software development life cycle. The more time we spend on requirement engineering, higher the probability of success. Effective requirement engineering ensures and predicts successful software product. This paper presents the adaptation of requirement engineering practices in small and medium size companies of Pakistan. The study is conducted by questionnaires to show how much of requirement engineering models and practices are followed in Pakistan.

Keywords: requirement engineering, Pakistan, models, practices, organizations

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Authors: Data Collete Bob-Manuel

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In light of global financial crisis in 2007-2008 various factors including board diversity, succession planning and board evaluation have been identified as essential ingredients in ensuring board effectiveness. The composition and structure of the board is of outmost importance in assessing a board’s ability and success in achieving its objectives. Following the corporate frauds and accounting scandals such as Enron, WorldCom, Parmalat, Oceanic Bank Nigeria and AfriBank Nigeria, there has been a notable amount of research about the effectiveness of the board of directors in the corporate governance of firms. The need to have an effective board cannot be over emphasized as it results in a more stable and thriving company. There has been an overarching need in the business world for a more diverse workforce and board of directors. Big corporations like Texaco, Ford Motors and DuPont have stated how diversity at every level of the workforce including the board of directors has been cited as a vital element for a company to succeed. Developed countries are also seeking for companies to have a more diverse board. For instance Norway has implemented a 60:40 board ratio to all companies. In West Africa, particularly Nigeria, the topic of diversity has received little attention as most studies conducted have focused on the gender aspect of diversity, which results found to have a negative impact on firm performance. This paper seeks to examine four variables of diversity; age, ethnicity, gender and skills to weigh the positive or negative impact the variables have on firm performance, based on evidence from the Nigerian Financial sector. Information used for this study will be gathered from financial statements and annual reports so as to enable the researcher to reflect on past years to know what is being done differently today. The findings of this study will help the researcher to develop a working definition for ethnicity with regards to the West African context where the issue of “tribe” is a sensitive topic.

Keywords: Board of Directors, Board Diversity, Firm Performance, Nigeria

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Authors: Saiyeed Jakaria Baksh Imran

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The earth is being endangered by many of the climate related issues today. The most serious issue for the world today is the global warming. Increase in Greenhouse gas (GHG) emissions post-industrial revolution period is the prime reason for global warming. Shipping is the fifth largest GHG emitting sector worldwide. The key reason for this is because, over 90% of the world trade is conducted through ocean as the ocean alone covers 70% of the earth surface. While the countries continue to develop, trade and commerce continue to increase between them simultaneously. However, there is no sign of reduction in GHG emission from shipping because of many concerned issues. Firstly, there is technological barrier for which ships cannot just become environment friendly immediately. Secondly, there is no alternative fuel available as well. Thirdly, there is no proper mechanism to measure how much ships emit as emission from ships vary according to the size, engine type and loading capacity of ships. The International Maritime Organization (IMO) being the governing body of the international shipping has implemented MARPOL Annex VI. However, the policy alone is not enough unless there is a proper data available regarding ship emissions, which the IMO is yet to figure out. This paper will present a critical analysis of existing IMO policies such as the Energy Efficiency Design Index (EEDI), Ship Energy Efficiency Management Plan (SEEMP), Data Collection System (SEEMP) and the IMO’s Initial Strategy on Reduction of Greenhouse Gas emissions from shipping. Also, the challenges exist in implementing such policies have been presented in the paper.

Keywords: GHG, IMO, EEDI, SEEMP, DCS, greenhouse gas, decarbonization, shipping

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Authors: Elaine Wong

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This research protocol aims to explore and justify the need for nutrition and physical activity intervention to improve health outcomes among SME (Small Medium Enterprise) employees. It was found that the worksite is an ideal and convenient setting for employees to take charge of their health thru active participation in health programmes since they spent a great deal of time at their workplace. This study will examine the impact of both general or/and targeted health interventions in both SME and non-SME companies utilizing the Workplace Health Promotion (WHP) grant over a 12 months period and assessed the improvement in chronic health disease outcomes in Singapore. Random sampling of both non-SME and SME companies will be conducted to undergo health intervention and statistical packages such as Statistical Package for Social Science (SPSS) 25 will be used to examine the impact of both general and targeted interventions on employees who participate and those who do not participate in the intervention and their effects on blood glucose (BG), blood lipid, blood pressure (BP), body mass index (BMI), and body fat percentage. Using focus groups and interviews, the data results will be transcribed to investigate enablers and barriers to workplace health intervention revealed by employees and WHP coordinators that could explain the variation in the health screening results across the organisations. Dietary habits and physical activity levels of the employees participating and not participating in the intervention will be collected before and after intervention to assess any changes in their lifestyle practices. It makes economic sense to study the impact of these interventions on health screening outcomes across various organizations that are existing grant recipients to justify the sustainability of these programmes by the local government. Healthcare policy makers and employers can then tailor appropriate and relevant programmes to manage these escalating chronic health disease conditions which is integral to the competitiveness and productivity of the nation’s workforce.

Keywords: chronic diseases, health screening, nutrition and fitness intervention , workplace health

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Authors: Khawaja A. Wahaj Wani, Aykut Erkal

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Pakistan's construction industry, a key player in economic development, has experienced remarkable growth. However, the surge in activities has been accompanied by dangerous working conditions, attributed to legislative gaps and flaws. Unhealthy construction practices, uncertain site conditions, and hazardous environments contribute to a concerning rate of injuries and fatalities. The principal aim of this research study is to undertake a thorough evaluation based on the assessment of the current situation of Health & Safety policies and the surveys performed by stakeholders of Pakistan with the aim of providing solution-centric methodologies for the enforcement of health and safety regulations within construction companies operating on project sites. Recognizing the pivotal role that the construction industry plays in bolstering a nation's economy, it is imperative to address the pressing need for heightened awareness among site engineers and laborers. The study adopts a robust approach, utilizing questionnaire surveys and interviews. As an exclusive investigative study, it encompasses all stakeholders: clients, consultants, contractors, and subcontractors. Targeting PEC-registered companies. Safety performance was assessed through the examination of sixty safety procedures using SPSS-18. A high Cronbach's alpha value of 0.958 ensures data reliability, and non-parametric tests were employed due to the non-normal distribution of data. The safety performance evaluation revealed significant insights. "Using Hoists and Cranes" and "Precautionary Measures (Shoring and Excavation)" exhibited commendable safety levels. Conversely, "Trainings on Safety" displayed a lower safety performance, alongside areas such as "Safety in Contract Documentation," "Meetings for Safety," and "Worker Participation," indicating room for improvement. These findings provide stakeholders with a detailed understanding of current safety measures within Pakistan's construction industry.

Keywords: construction industry, health and safety regulations, Pakistan, risk management

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Authors: Nafaa Zaafour

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Located at the north eastern of Algeria, the National Park of El-Kala (PNEK) is a set of landscapes whose bioclimatic stages of vegetation extend from sub-humid to humid. In order to know the soil occupation in this complex, an initiated ecological soil cartography using a stratified sampling plan of vegetation had made, the study area occupies two-thirds of the northern National Park of El Kala, it has been divided into 380 plots of 1km2 of which, 76 were the subject of a detailed floristic inventory and sampling of soils. The inventory of vegetation carried out on different sites has allowed identifying several plant groups that share the soil cover with the following distribution: The group of cork oak, this formation occupies the biggest part of the area, it develops mainly on Incepttisols, Alfisols and Mollisols; The group of kermes oak, occupies a large area, it grows on Mollisols and Alfisols; The group of maritime pine, it occupies the same soils as the Kermes Oak; The group of Mirbeck oak, installed on Regosols, it is located in the Eastern part, on the Algerian-Tunisian border; The group of eucalyptus, it grows mainly on Inceptisols, Mollisols of, and Vertisols; The group of wetland, it grows along the banks of lakes and rivers, which primarily develops on Histosols soil Mollisols and Vertisols; The cultures, distributed mainly around the lakes occupy several soil types on Histosols, the Inceptisols, Mollisols of, and Vertisols. This great diversity of vegetation is linked not only to the soil variability but also to climate, hydrological and geological variability.

Keywords: Algeria, cartography, soil, vegetation

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Authors: Anderson S. Fonseca, Italo F. S. Da Silva, Robert D. A. Santos, Mayara G. Da Silva, Pedro H. C. Vieira, Antonio M. S. Sobrinho, Victor H. B. Lemos, Petterson S. Diniz, Anselmo C. Paiva, Eliana M. G. Monteiro

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In Brazil, the National Electric Energy Agency (ANEEL) establishes that electrical energy companies are responsible for measuring and billing their customers. Among these regulations, it’s defined that a company must bill your customers within 27-33 days. If a relocation or a change of period is required, the consumer must be notified in writing, in advance of a billing period. To make it easier to organize a workday’s measurements, these companies create a reading plan. These plans consist of grouping customers into reading groups, which are visited by an employee responsible for measuring consumption and billing. The creation process of a plan efficiently and optimally is a capacitated clustering problem with constraints related to homogeneity and compactness, that is, the employee’s working load and the geographical position of the consuming unit. This process is a work done manually by several experts who have experience in the geographic formation of the region, which takes a large number of days to complete the final planning, and because it’s human activity, there is no guarantee of finding the best optimization for planning. In this paper, the GBKMeans method presents a technique based on K-Means and genetic algorithms for creating a capacitated cluster that respects the constraints established in an efficient and balanced manner, that minimizes the cost of relocating consumer units and the time required for final planning creation. The results obtained by the presented method are compared with the current planning of a real city, showing an improvement of 54.71% in the standard deviation of working load and 11.97% in the compactness of the groups.

Keywords: capacitated clustering, k-means, genetic algorithm, districting problems

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Authors: Maisa Sales Gama Tobias, Humberto de Paiva Junior, Luciano Silva Brito, Rui António Rodrigues Ramos

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Waterway transport in the Amazon was the first means of access and occupation in the region. For the economic and social matter of high importance, still nowadays one of the main transport modes to several places in the region. To some places, still the only transport mode. With the advent of the pandemic, transport companies that already faced management challenges began to experience unprecedented structural changes and trends in trade and global supply chains. Thus, companies need operational reorganization to maintain the sustainability of the service under the penalty of loss of demand. Allied to this fact, it was observed that the demand presented behavior changes to adapt to this new moment. However, the lack of information about these changes makes it difficult to find solutions to maintain the quality of service. This work aimed to characterize the changes in the demand of waterway passengers through an empirical study with field research involving interviews with users and crew, on-board journeys, and visits to the waterway service company. The case study is the route Belém-Camara, on Marajó Island, in the state of Pará. This line is traditionally the only means of transport for this route, besides air transport on a much smaller scale. The collected data had a descriptive and analytical statistical treatment presented in this work. As the main result, the COVID-19 pandemic has caused significant changes, mainly in trip time and motives and, in the perception itself on service quality by part of the demand, with the increase of trip time and the feeling of insecurity. In conclusion, the service operator must review cost management and business survival strategies and tactics. The viability of the service and the social guarantee of transport proved to be threatened, putting at risk the service to the riverside populations.

Keywords: demand of waterway transport passengers, data analysis, COVID-19, amazonia

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Authors: Matthew Lee Turnbough

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In 2007 Spain began to experience the effects of a deep economic crisis, which would generate a situation characterised by instability and uncertainty. This has been an obstacle, especially acute for the youth of this country seeking to enter the workforce. As a result of the impact of COVID-19, the youth in Spain are now suffering the effects of a new crisis that has deepened an already fragile labour environment. In this paper, we analyse the discourses that have emerged from a precarious labour market, specifically from two companies dedicated to operating job portals and job listings in Spain, Job Today, and CornerJob. These two start-up businesses have developed mobile applications geared towards young adults in search of employment in the service sector, two of the companies with the highest user rates in Spain. Utilizing a discourse analysis approach, we explore the impact of individualization and how the process of psychologization may contribute to an increasing reliance on individual solutions to social problems. As such, we seek to highlight the expectations and demands that are placed upon young workers and the type of subjectivity that this dynamic could foster, all this within an unstable framework seemingly marked by chance, a context which is key for the emergence of individualization. Furthermore, we consider the extent to which young adults incorporate these discourses and the strategies they employ basing our analysis on the VULSOCU (New Forms of Socio-Existential Vulnerability, Supports, and Care in Spain) research project, specifically the results of nineteen in-depth interviews and three discussion groups with young adults in this country. Consequently, we seek to elucidate the argumentative threads rooted in the process of individualization and underline the implications of this dynamic for the young worker and his/her labour insertion while also identifying manifestations of the goddess of fortune as a representation of chance in this context. Finally, we approach this panorama of social change in Spain from the perspective of the individuals or young adults who find themselves immersed in this transition from one crisis to another.

Keywords: chance, crisis, discourses, individualization, work, youth

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Authors: Sevgi Özlem Bulu, Arif Furkan Mendi, Tolga Erol, İzzet Gökhan Özbilgin

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The rapid progress of technology in today's competitive conditions has also accelerated companies' technology development activities. As a result, companies are paying more attention to R&D studies and are beginning to allocate a larger share to R&D projects. A more systematic, comprehensive, target-oriented implementation of R&D studies is crucial for the company to achieve successful results. As a consequence, Technology Roadmap (TRM) is gaining importance as a management tool. It has critical prospects for achieving medium and long term success as it contains decisions about past business, future plans, technological infrastructure. When studies on TRM are examined, projects to be placed on the roadmap are selected by many different methods. Generally preferred methods are based on multi-criteria decision making methods. Management of selected projects becomes an important point after the selection phase of the projects. At this stage, TRM are used. TRM can be created in many different ways so that each institution can prepare its own Technology Roadmap according to their strategic plan. Depending on the intended use, there can be TRM with different layers at different sizes. In the evaluation phase of the R&D projects and in the creation of the TRM, HAVELSAN, Turkey's largest defense company in the software field, carries out this process with great care and diligence. At the beginning, suggested R&D projects are evaluated by the Technology Management Board (TMB) of HAVELSAN in accordance with the company's resources, objectives, and targets. These projects are presented to the TMB periodically for evaluation within the framework of certain criteria by board members. After the necessary steps have been passed, the approved projects are added to the time-based TRM, which is composed of four layers as market, product, project and technology. The use of a four-layered roadmap provides a clearer understanding and visualization of company strategy and objectives. This study demonstrates the benefits of using TRM, four-layered Technology Roadmapping and the possibilities for the institutions in the defense industry.

Keywords: technology roadmap, research and development project, project selection, research development in defense industry

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Authors: Asma AlQahtani, Jumana AlHadad, Maryam AlQallaf, Shoug AlHasan

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New product development (NPD) is the complete process of bringing a new product to the customer by integrating the two broad divisions; one involving the idea generation, product design and detail engineering; and the other involving market research and marketing analysis. It is a common practice for companies to undertake some of these tasks simultaneously (concurrent engineering) and also consider them as an ongoing process (continuous development). The current study explores the framework and methodology for a new product development process utilizing the Quality Function Deployment (QFD) tool for bringing the customer opinion into the product development process. An elaborate customer survey with focus groups in the region was carried out to ensure that customer requirements are integrated into new products as early as the design stage including identifying the recognition of need for the new product. A QFD Matrix (House of Quality) was prepared that links customer requirements to product engineering requirements and a feasibility study and risk assessment exercise was carried out for a Small and Medium Enterprise (SME) in Kuwait for development of the new product. SMEs in Kuwait, particularly in manufacturing sector are mainly focused on serving the local demand, and often lack of product quality adversely affects the ability of the companies to compete on a regional/global basis. Further, lack of focus on identifying customer requirements often deters SMEs to envisage the idea of a New Product Development. The current study therefore focuses in utilizing QFD Matrix right from the conceptual design to detail design and to some extent, extending the link this to design of the manufacturing system. The outcome of the project resulted in a development of the prototype for a new molded product which can ensure consistency between the customer’s requirements and the measurable characteristics of the product. The Engineering Economics and Cost studies were also undertaken to analyse the viability of the new product, the results of which was also linked to the successful implementation of the initial QFD Matrix.

Keywords: Quality Function Deployment, QFD Matrix, new product development, NPD, Kuwait SMEs, prototype development

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Authors: Hatice Idil Gorgen

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Turkey has been investing in its national defence industrial base since the 1980s. State’s role in defence industry showed differences in Turkey. Parallel with this, ruling group’s attitude toward companies in defence sector varied. These changes in policies and behaviors of the state have occurred throughout such milestones as political and economic turmoil in domestic and international level. Hence, it is argued that state’s role, relations with private companies in defense sector and its policies towards the defense industry has shown differences due to the international system, political institutions, ideas and political coalitions in Turkey since the 1980s. Therefore, in order to see changes in the role of the state in defence sector, this paper aims to indicate first, history of state’s role in production and defence industry in the post-1980s era. Secondly, to comprehend the changes in the state’s role in defence industry, Stephan Haggard’s sources of policy change will be provided in the theoretical ground. Thirdly, state cooperated, and joint venture defence firms, state’s actions toward them will be observed. The remaining part will explore the underlying reasons for the changes in the role of the state in defence industry, and it implicitly or explicitly impacts on state business relations. Major findings illustrate that targeted idea of self-sufficient or autarky Turkey to attract domestic audience and to raise the prestige through defence system; ruling elites can regard defence industry and involved business groups as a mean for their ends. State dominant value, sensitive perception which has been ever since Ottoman Empire, prioritizes business groups in defence industry compared to others and push the ruling elites to pursue hard power in defence sectors. Through the globally structural transformation in defence industry, integration of Turkey to liberal bloc deepened and widened interdependence among states. Although it is a qualitative study, it involves the numerated data and descriptive statistics. Data will be collected by searching secondary sources from the literature, examining official documents of ministry of defence, and other appropriate ministries.

Keywords: defense industry, state and business relations, public private relations, arm industry

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