Search results for: time management
24716 Effect of Inventory Management on Financial Performance: Evidence from Nigerian Conglomerate Companies
Authors: Adamu Danlami Ahmed
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Inventory management is the determinant of effective and efficient work for any manager. This study looked at the relationship between inventory management and financial performance. The population of the study comprises all conglomerate quoted companies in the Nigerian Stock Exchange market as at 31st December 2010. The scope of the study covered the period from 2010 to 2014. Descriptive, Pearson correlation and multiple regressions are used to analyze the data. It was found that inventory management is significantly related to the profitability of the company. This entails that an efficient management of the inventory cycle will enhance the profitability of the company. Also, lack of proper management of it will hinder the financial performance of organizations. Based on the results, it was recommended that a conglomerate company should try to see that inventories are kept to a minimum, as well as make sure the proper checks are maintained to make sure only needed inventories are in the store. As well as to keep track of the movement of goods, in order to avoid unnecessary delay of finished and work in progress (WIP) goods in the store and warehouse.Keywords: finished goods, work in progress, financial performance, inventory
Procedia PDF Downloads 23324715 New Results on Stability of Hybrid Stochastic Systems
Authors: Manlika Rajchakit
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This paper is concerned with robust mean square stability of uncertain stochastic switched discrete time-delay systems. The system to be considered is subject to interval time-varying delays, which allows the delay to be a fast time-varying function and the lower bound is not restricted to zero. Based on the discrete Lyapunov functional, a switching rule for the robust mean square stability for the uncertain stochastic discrete time-delay system is designed via linear matrix inequalities. Finally, some examples are exploited to illustrate the effectiveness of the proposed schemes.Keywords: robust mean square stability, discrete-time stochastic systems, hybrid systems, interval time-varying delays, lyapunov functional, linear matrix inequalities
Procedia PDF Downloads 42924714 Distance Learning and Modern Challenges of Education Management in Georgia
Authors: Giorgi Gaganidze, Eter Kharaishvili
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The atypical crisis has created new challenges in the education system. Globally, including in Georgia, traditional methods of managing the education system have appeared particularly vulnerable. In addition, new opportunities for the introduction of innovative management of learning processes have emerged. The aim of the research is to identify the main challenges in the field of education management in the distance learning process in Georgia and to develop recommendations on the opportunities for the introduction of innovative management. The paper substantiates the relevance of the research, in particular, it notes that in Georgia, as in many countries, distance learning in higher education institutions became particularly crucial during the Covid-19 pandemic. What is more, theoretical and practical aspects of distance learning are less proven, and a number of problems have been identified in the field of education management in Georgia. The article justifies the need to study the challenges of distance learning for the formation of a sustainable education management system. Within the bibliographic research, there are grouped the opinions of researchers on the modern problems of distance learning and education management in the article. Based on scientific papers, the expectations formed about distance learning are studied, and the main focus is on the existing problems of education management during the atypical crisis. The article discusses the forms and opportunities of distance learning in different countries, evaluates different approaches and challenges to distance learning, and justifies the role of education management in effective distance learning. The paper uses various theoretical-methodological tools of research, including desk research on the research topic; Data selection-grouping, problem identification is carried out by analysis, synthesis, sampling, induction, and other methods;SWOT analysis is used to assess the strengths, weaknesses, opportunities, and threats of distance education and management; The level of student satisfaction with distance learning is determined through the Population-based / Census-based approach; The results of the research are processed by SPSS program. Quantitative research and semi-structured interviews with relevant focus groups were conducted to identify working directions for innovative management of distance learning and education. Research has shown that the demand for distance education is growing in Georgia, but the need to introduce innovative education management remains a particular challenge. Conclusions have been made on the introduction of innovative education management, and the relevant recommendations have been developed.Keywords: distance learning, management challenges, education management, innovative management
Procedia PDF Downloads 12524713 USTTB (UCRC) Financial Management, Strengths and Weaknesses
Authors: Samba Lamine Cisse, Cheick Oumar Tangara, Seynabou Sissoko, Mahamadou Diakite, Seydou Doumbia
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Background: Financial management of a scientific research center is a crucial element in achieving ambitious scientific goals. It can be a driving force for research success, but it also has shortcomings that are important to understand. This study focuses on the crucial aspects of financial management in the context of scientific research centers, more specifically the USTTB (UCRC) in Mali in terms of strengths and weaknesses. Methodology: This study concerns the case of the UCRC, one of the USTTB's research centers. It is a qualitative study based on years of experience in project management at the USTTB, and on analyses and interpretations of everyday activities. Result: It offers practical recommendations for improving the financial stability of research institutions, thereby contributing to their mission of promoting scientific research and innovation. Scientific research centers play a crucial role in the development of knowledge, and their effective operation largely depends on the appropriate management of their financial resources. It begins with an in-depth analysis of UCRC's typical financial structure, highlighting its types and sources of funding, followed by an analysis of the strengths and weaknesses of its current financial management system. Conclusion: Financial management of a scientific research center is essential to ensure the continuity of research activities, the development of innovative projects and the achievement of scientific objectives. Adaptive financial management focused on efficiency, diversification of funding and risk control. They are essential to meeting these challenges and fostering excellence in scientific research.Keywords: financial, management, strengths, weaknesses, recommendations
Procedia PDF Downloads 1424712 Microwave Dielectric Relaxation Study of Diethanolamine with Triethanolamine from 10 MHz-20 GHz
Authors: A. V. Patil
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The microwave dielectric relaxation study of diethanolamine with triethanolamine binary mixture have been determined over the frequency range of 10 MHz to 20 GHz, at various temperatures using time domain reflectometry (TDR) method for 11 concentrations of the system. The present work reveals molecular interaction between same multi-functional groups [−OH and –NH2] of the alkanolamines (diethanolamine and triethanolamine) using different models such as Debye model, Excess model, and Kirkwood model. The dielectric parameters viz. static dielectric constant (ε0) and relaxation time (τ) have been obtained with Debye equation characterized by a single relaxation time without relaxation time distribution by the least squares fit method.Keywords: diethanolamine, excess properties, kirkwood properties, time domain reflectometry, triethanolamine
Procedia PDF Downloads 30424711 Development of a Methodology for Surgery Planning and Control: A Management Approach to Handle the Conflict of High Utilization and Low Overtime
Authors: Timo Miebach, Kirsten Hoeper, Carolin Felix
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In times of competitive pressures and demographic change, hospitals have to reconsider their strategies as a company. Due to the fact, that operations are one of the main income and one of the primary cost drivers otherwise, a process-oriented approach and an efficient use of resources seems to be the right way for getting a consistent market position. Thus, the efficient operation room occupancy planning is an important cause variable for the success and continued the existence of these institutions. A high utilization of resources is essential. This means a very high, but nevertheless sensible capacity-oriented utilization of working systems that can be realized by avoiding downtimes and a thoughtful occupancy planning. This engineering approach should help hospitals to reach her break-even point. Firstly, the aim is to establish a strategy point, which can be used for the generation of a planned throughput time. Secondly, the operation planning and control should be facilitated and implemented accurately by the generation of time modules. More than 100,000 data records of the Hannover Medical School were analyzed. The data records contain information about the type of conducted operation, the duration of the individual process steps, and all other organizational-specific data such as an operating room. Based on the aforementioned data base, a generally valid model was developed by an analysis to define a strategy point which takes the conflict of capacity utilization and low overtime into account. Furthermore, time modules were generated in this work, which allows a simplified and flexible operation planning and control for the operation manager. By the time modules, it is possible to reduce a high average value of the idle times of the operation rooms. Furthermore, the potential is used to minimize the idle time spread.Keywords: capacity, operating room, surgery planning and control, utilization
Procedia PDF Downloads 25224710 Culture, Consumption, and Markets of Aesthetics: A10-Year Literature Review
Authors: Chin-Hsiang Chu
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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 25824709 Educational Fieldworks towards Urban Biodiversity Preservation: Case Study of Japanese Gardens Management of Kanazawa City, Japan
Authors: Aida Mammadova, Juan Pastor Ivars
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Japanese gardens can be considered as the unique hubs to preserve urban biodiversity, as they provide the habitat for the diverse network of living organisms, facilitating to the movement of the rare species around the urban landscape, became the refuge for the moss and many endangered species. For the centuries, Japanese gardens were considered as ecologically sustainable and well-organized ecosystems, due to the skilled maintenances and management. However, unfortunately, due to the depopulations and ageing in Japanese societies, gardens are becoming more abandoned, and there is an urgent need to increase the awareness about the importance of the Japanese gardens to preserve the urban biodiversity. In this study, we have conducted the participatory educational field trips for 12 students into the to the five gardens protected by Kanazawa City and learned about the preservation activities conducted at the governmental, municipal, and local levels. After the courses, students have found a strong linkage between the gardens with the traditional culture. Kanazawa City, for more than 400 years is famous with traditional craft makings and tea ceremonies, and it was noticed that the cultural diversity of the city was strongly supported by the biodiversity of the gardens, and loss of the gardens would bring to the loss of the traditional culture. Using the experiential approach during the fieldworks, it was observed by the students that the linkage between the bio-cultural diversity strongly depends on humans’ activities. The continuous management and maintenance of the gardens are the contributing factor for the preservation of urban diversity. However, garden management is very time and capital consuming process, and it was also noticed that there is a big need to attract all levels of the society to preserve the urban biodiversity through the participatory urbanism.Keywords: biodiversity, conservation, educational fieldwork, Japanese gardens
Procedia PDF Downloads 21224708 Implications of Industry 4.0 to Supply Chain Management and Human Resources Management: The State of the Art
Authors: Ayse Begum Kilic, Sevgi Ozkan
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Industry 4.0 (I4.0) is a significant and promising research topic that is expected to gain more importance due to its effects on important concepts like cost, resource management, and accessibility. Instead of focusing those effects in only one area, combining different departments, and see the big picture helps to make more realistic predictions about the future. The aim of this paper is to identify the implications of Industry 4.0 for both supply chain management and human resources management by finding out the topics that take place at the intersection of them. Another objective is helping the readers to realize the expected changes in these two areas due to I4.0 in order to take the necessary steps in advance and make recommendations to catch up the latest trends. The expected changes are concluded from the industry reports and related journal papers in the literature. As found in the literature, this study is the first to combine the Industry 4.0, supply chain management and human resources management and urges to lead future works by finding out the intersections of those three areas. Benefits of I4.0 and the amount, research areas and the publication years of papers on I4.0 in the academic journals are mentioned in this paper. One of the main findings of this research is that a change in the labor force qualifications is expected with the advancements in the technology. There will be a need for higher level of skills from the workers. This will directly affect the human resources management in a way of recruiting and managing those people. Another main finding is, as it is explained with an example in the article, the advancements in the technology will change the place of production. For instance, 'dark factories', a popular topic of I4.0, will enable manufacturers to produce in places that close to their marketplace. The supply chains are expected to be influenced by that change.Keywords: human resources management, industry 4.0, logistics, supply chain management
Procedia PDF Downloads 15924707 Drying Kinetics of Okara (Soy Pulp) Using the Multi-Commodity Heat Pump Dryer (MCHPD)
Authors: Lorcelie B. Taclan, Jolly S. Balila, Maribel Balagtas, Eunice M. Aclan, Myrtle C. Orbon, Emson Y. Taclan, Irenea A. Centeno
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Okara (soy pulp), a by-product and waste from the production of soymilk, tufo and tokwa and soybean-based vegan food products is readily available in the university thrice a week. The Food Factory owned and managed by AUP produces these food products weekly. Generally the study was conducted to determine the drying kinetics of soya pulp using the MCHPD. Specifically, it aimed to establish the time of drying; moisture loss per hour and percent moisture content of soya pulp and to establish the dried okara as an ingredient to other foods. The MCHPD is drying equipment that has an ideal drying condition of 50.00C and 10.0% relative humidity. Fresh and wet soya pulp were weighed at 1.0 kg per tray (21 drying trays), laid on the trays lined with cheese cloth. The MCHPD was set to desired drying conditions. Weight loss was monitored every hour and calculated using standard formulas. Research results indicated that the drying time for soya pulp was 19.0 hours; the % moisture content was reduced from 87.6.0% to 9.7.0% at an average moisture loss of 3.0 g/hr. The nutritional values of okara were favorably maintained with enhanced color. The dried okara was added as an ingredient to other healthy bakery products produced by the AUP Food Factory. Making use of okara would add nutritional values to other food products and would also help waste management concerns inside the university.Keywords: okara, MCHPD, drying kinetics, nutritional values, waste management
Procedia PDF Downloads 39524706 Leveraging Information for Building Supply Chain Competitiveness
Authors: Deepika Joshi
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Operations in automotive industry rely greatly on information shared between Supply Chain (SC) partners. This leads to efficient and effective management of SC activity. Automotive sector in India is growing at 14.2 percent per annum and has huge economic importance. We find that no study has been carried out on the role of information sharing in SC management of Indian automotive manufacturers. Considering this research gap, the present study is planned to establish the significance of information sharing in Indian auto-component supply chain activity. An empirical research was conducted for large scale auto component manufacturers from India. Twenty four Supply Chain Performance Indicators (SCPIs) were collected from existing literature. These elements belong to eight diverse but internally related areas of SC management viz., demand management, cost, technology, delivery, quality, flexibility, buyer-supplier relationship, and operational factors. A pair-wise comparison and an open ended questionnaire were designed using these twenty four SCPIs. The questionnaire was then administered among managerial level employees of twenty-five auto-component manufacturing firms. Analytic Network Process (ANP) technique was used to analyze the response of pair-wise questionnaire. Finally, twenty-five priority indexes are developed, one for each respondent. These were averaged to generate an industry specific priority index. The open-ended questions depicted strategies related to information sharing between buyers and suppliers and their influence on supply chain performance. Results show that the impact of information sharing on certain performance indicators is relatively greater than their corresponding variables. For example, flexibility, delivery, demand and cost related elements have massive impact on information sharing. Technology is relatively less influenced by information sharing but it immensely influence the quality of information shared. Responses obtained from managers reveal that timely and accurate information sharing lowers the cost, increases flexibility and on-time delivery of auto parts, therefore, enhancing the competitiveness of Indian automotive industry. Any flaw in dissemination of information can disturb the cycle time of both the parties and thus increases the opportunity cost. Due to supplier’s involvement in decisions related to design of auto parts, quality conformance is found to improve, leading to reduction in rejection rate. Similarly, mutual commitment to share right information at right time between all levels of SC enhances trust level. SC partners share information to perform comprehensive quality planning to ingrain total quality management. This study contributes to operations management literature which faces scarcity of empirical examination on this subject. It views information sharing as a building block which firms can promote and evolve to leverage the operational capability of all SC members. It will provide insights for Indian managers and researchers as every market is unique and suppliers and buyers are driven by local laws, industry status and future vision. While major emphasis in this paper is given to SC operations happening between domestic partners, placing more focus on international SC can bring in distinguished results.Keywords: Indian auto component industry, information sharing, operations management, supply chain performance indicators
Procedia PDF Downloads 55024705 Integrating Virtual Reality and Building Information Model-Based Quantity Takeoffs for Supporting Construction Management
Authors: Chin-Yu Lin, Kun-Chi Wang, Shih-Hsu Wang, Wei-Chih Wang
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A construction superintendent needs to know not only the amount of quantities of cost items or materials completed to develop a daily report or calculate the daily progress (earned value) in each day, but also the amount of quantities of materials (e.g., reinforced steel and concrete) to be ordered (or moved into the jobsite) for performing the in-progress or ready-to-start construction activities (e.g., erection of reinforced steel and concrete pouring). These daily construction management tasks require great effort in extracting accurate quantities in a short time (usually must be completed right before getting off work every day). As a result, most superintendents can only provide these quantity data based on either what they see on the site (high inaccuracy) or the extraction of quantities from two-dimension (2D) construction drawings (high time consumption). Hence, the current practice of providing the amount of quantity data completed in each day needs improvement in terms of more accuracy and efficiency. Recently, a three-dimension (3D)-based building information model (BIM) technique has been widely applied to support construction quantity takeoffs (QTO) process. The capability of virtual reality (VR) allows to view a building from the first person's viewpoint. Thus, this study proposes an innovative system by integrating VR (using 'Unity') and BIM (using 'Revit') to extract quantities to support the above daily construction management tasks. The use of VR allows a system user to be present in a virtual building to more objectively assess the construction progress in the office. This VR- and BIM-based system is also facilitated by an integrated database (consisting of the information and data associated with the BIM model, QTO, and costs). In each day, a superintendent can work through a BIM-based virtual building to quickly identify (via a developed VR shooting function) the building components (or objects) that are in-progress or finished in the jobsite. And he then specifies a percentage (e.g., 20%, 50% or 100%) of completion of each identified building object based on his observation on the jobsite. Next, the system will generate the completed quantities that day by multiplying the specified percentage by the full quantities of the cost items (or materials) associated with the identified object. A building construction project located in northern Taiwan is used as a case study to test the benefits (i.e., accuracy and efficiency) of the proposed system in quantity extraction for supporting the development of daily reports and the orders of construction materials.Keywords: building information model, construction management, quantity takeoffs, virtual reality
Procedia PDF Downloads 13224704 Implementation of the Quality Management System and Development of Organizational Learning: Case of Three Small and Medium-Sized Enterprises in Morocco
Authors: Abdelghani Boudiaf
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The profusion of studies relating to the concept of organizational learning shows the importance that has been given to this concept in the management sciences. A few years ago, companies leaned towards ISO 9001 certification; this requires the implementation of the quality management system (QMS). In order for this objective to be achieved, companies must have a set of skills, which pushes them to develop learning through continuous training. The results of empirical research have shown that implementation of the QMS in the company promotes the development of learning. It should also be noted that several types of learning are developed in this sense. Given the nature of skills development is normative in the context of the quality demarche, companies are obliged to qualify and improve the skills of their human resources. Continuous training is the keystone to develop the necessary learning. To carry out continuous training, companies need to be able to identify their real needs by developing training plans based on well-defined engineering. The training process goes obviously through several stages. Initially, training has a general aspect, that is to say, it focuses on topics and actions of a general nature. Subsequently, this is done in a more targeted and more precise way to accompany the evolution of the QMS and also to make the changes decided each time (change of working method, change of practices, change of objectives, change of mentality, etc.). To answer our problematic we opted for the method of qualitative research. It should be noted that the case study method crosses several data collection techniques to explain and understand a phenomenon. Three cases of companies were studied as part of this research work using different data collection techniques related to this method.Keywords: changing mentalities, continuing training, organizational learning, quality management system, skills development
Procedia PDF Downloads 11024703 Change to the Location/Ownership and Control of Liquid Metering Skids
Authors: Mahmoud Jumah
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This paper presents the circumstances and decision making in case of change management in any industrial processes, and the effective strategic planning ensured to provide with the on time completion of projects. In this specific case, the Front End Engineering Design and the awarded Lump Sum Turn Key Contract had provided for full control and ownership of all Liquid Metering Skids by Controlling Team. The demarcation and location were changed, and the Ownership and Control of the Liquid Metering Skids inside the boundaries of the Asset Owner were transferred from Controlling Team to Asset Owner after the award of the LSTK Contract. The requested changes resulted in Adjustment Order and the relevant scope of work is an essential part of the original Contract. The majority of equipment and materials (i.e. liquid metering skids, valves, piping, etc.) has already been in process.Keywords: critical path, project change management, stakeholders problem solving, strategic planning
Procedia PDF Downloads 26724702 Through Integrated Project Management and Systems Engineering to Support System Design Development: A Project Management-based Systems Engineering Approach
Authors: Xiaojing Gao, James Njuguna
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This paper emphasizes the importance of integrating project management and systems engineering for innovative system design and production development. The research highlights the need for a flexible approach that unifies these disciplines, as their isolation often leads to communication challenges and complexity within multidisciplinary teams. The paper aims to elucidate the intricate relationship between project management and systems engineering, recommending the consolidation of engineering disciplines into a single lifecycle for improved support of the design and development process. The research identifies a synergy between these disciplines, focusing on streamlining information communication during product design and development. The insights gained from this process can lead to product design optimization. Additionally, the paper introduces a proposed Project Management-Based Systems Engineering (PMBSE) framework, emphasizing effective communication, efficient processes, and advanced tools to enhance product development outcomes within the product lifecycle.Keywords: system engineering, product design and development, project management, cross-disciplinary
Procedia PDF Downloads 7824701 Proposing an Index for Determining Key Knowledge Management Processes in Decision Making Units Using Fuzzy Quality Function Deployment (QFD), Data Envelopment Analysis (DEA) Method
Authors: Sadegh Abedi, Ali Yaghoubi, Hamidreza Mashatzadegan
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This paper proposes an approach to identify key processes required by an organization in the field of knowledge management and aligning them with organizational objectives. For this purpose, first, organization’s most important non-financial objectives which are impacted by knowledge management processes are identified and then, using a quality house, are linked with knowledge management processes which are regarded as technical elements. Using this method, processes that are in need of improvement and more attention are prioritized based on their significance. This means that if a process has more influence on organization’s objectives and is in a dire situation comparing to others, is prioritized for choice and improvement. In this research process dominance is considered to be an influential element in process ranking (in addition to communication matrix). This is the reason for utilizing DEA techniques for prioritizing processes in quality house. Results of implementing the method in Khuzestan steel company represents this method’s capability of identifying key processes that require improvements in organization’s knowledge management system.Keywords: knowledge management, organizational performance, fuzzy data, envelopment analysis
Procedia PDF Downloads 41924700 Using the Structural Equation Model to Explain the Effect of Supervisory Practices on Regulatory Density
Authors: Jill Round
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In the economic system, the financial sector plays a crucial role as an intermediary between market participants, other financial institutions, and customers. Financial institutions such as banks have to make decisions to satisfy the demands of all the participants by keeping abreast of regulatory change. In recent years, progress has been made regarding frameworks, development of rules, standards, and processes to manage risks in the banking sector. The increasing focus of regulators and policymakers placed on risk management, corporate governance, and the organization’s culture is of special interest as it requires a well-resourced risk controlling function, compliance function, and internal audit function. In the past years, the relevance of these functions that make up the so-called Three Lines of Defense has moved from the backroom to the boardroom. The approach of the model can vary based on the various organizational characteristics. Due to the intense regulatory requirements, organizations operating in the financial sector have more mature models. In less regulated industries there is more cloudiness about what tasks are allocated where. All parties strive to achieve their objectives through the effective management of risks and serve the identical stakeholders. Today, the Three Lines of Defense model is used throughout the world. The research looks at trends and emerging issues in the professions of the Three Lines of Defense within the banking sector. The answers are believed to helping to explain the increasing regulatory requirements for the banking sector. While the number of supervisory practices increases the risk management requirements intensify and demand more regulatory compliance at the same time. The Structural Equation Modeling (SEM) is applied by making use of conducted surveys in the research field. It aims to describe (i) the theoretical model regarding the applicable linearity relationships, (ii) the causal relationship between multiple predictors (exogenous) and multiple dependent variables (endogenous), (iii) taking into consideration the unobservable variables and (iv) the measurement errors. The surveys conducted on the research field suggest that the observable variables are caused by various latent variables. The SEM consists of the 1) measurement model and the 2) structural model. There is a detectable correlation regarding the cause-effect relationship among the performed supervisory practices and the increasing scope of regulation. Supervisory practices reinforce the regulatory density. In the past, controls were placed after supervisory practices were conducted or incidents occurred. In further research, it is of interest to examine, whether risk management is proactive, reactive to incidents and supervisory practices or can be both at the same time.Keywords: risk management, structural equation model, supervisory practice, three lines of defense
Procedia PDF Downloads 22424699 Application of Strategic Management Tools
Authors: Abenezer Nigussie
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Strategic control practice is a critical exercise, as it provides a sturdy influence towards firms or production partners to achieve the full implementation of effective predetermined plans. The importance of strategic control in a company is often measured by observing the relationship between strategic management and organizational performance. The conventional philosophy of strategic control in academia and the industry places significant emphasis on the ability to plan and execute initiatives. In contrast, the same emphasis on strategic management has received less attention in the housing industry. Although the pressures of project performance can often obscure the wider social, economic, and professional context in which strategic management is undertaken, it is these broad contextual areas that make strategic control a vital issue for construction businesses. Rapidly changing social and technological issues are creating an informed environment that will appear very different in the coming decades from what is experienced in today’s companies. Construction project activity is not adequately led by strategic management tools; projects are mostly executed through simple plans and schedules. The issues that this thesis addresses and solves involve the successful accompaniment of the construction project process through these strategic management tools. The second important aspect is an evaluation of project activity, which is mostly done through simple economic and technical valuation. However, during this research, effective strategic management tools are evaluated and suggested for the assessment of project activities. The research introduces a study of the current strategic management practices of construction companies and also presents the concept of strategic management and the areas that companies need to address to compete in the global market. A summary of an industry survey is documented along with the historical research that prompted the investigation of these topics with a focus on the implementation of tools. Strategic management is a concept that concerns making decisions and taking corrective actions to achieve the future goals and objectives of a company. The objective of this paper is to review the practice of strategic management in construction companies. Questionnaires were distributed to major construction companies listed under categories of each project capable of specifying the complete expression of strategic management tools. Findings of the research showed that the majority of development companies practice strategic management tools in the process and implementation of each tool.Keywords: strategic management, management, analysis, project management
Procedia PDF Downloads 6724698 Prediction-Based Midterm Operation Planning for Energy Management of Exhibition Hall
Authors: Doseong Eom, Jeongmin Kim, Kwang Ryel Ryu
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Large exhibition halls require a lot of energy to maintain comfortable atmosphere for the visitors viewing inside. One way of reducing the energy cost is to have thermal energy storage systems installed so that the thermal energy can be stored in the middle of night when the energy price is low and then used later when the price is high. To minimize the overall energy cost, however, we should be able to decide how much energy to save during which time period exactly. If we can foresee future energy load and the corresponding cost, we will be able to make such decisions reasonably. In this paper, we use machine learning technique to obtain models for predicting weather conditions and the number of visitors on hourly basis for the next day. Based on the energy load thus predicted, we build a cost-optimal daily operation plan for the thermal energy storage systems and cooling and heating facilities through simulation-based optimization.Keywords: building energy management, machine learning, operation planning, simulation-based optimization
Procedia PDF Downloads 32224697 Efficacy and Safety of Sublingual Sufentanil for the Management of Acute Pain
Authors: Neil Singla, Derek Muse, Karen DiDonato, Pamela Palmer
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Introduction: Pain is the most common reason people visit emergency rooms. Studies indicate however, that Emergency Department (ED) physicians often do not provide adequate analgesia to their patients as a result of gender and age bias, opiophobia and insufficient knowledge of and formal training in acute pain management. Novel classes of analgesics have recently been introduced, but many patients suffer from acute pain in settings where the availability of intravenous (IV) access may be limited, so there remains a clinical need for rapid-acting, potent analgesics that do not require an invasive route of delivery. A sublingual sufentanil tablet (SST), dispensed using a single-dose applicator, is in development for treatment of moderate-to-severe acute pain in a medically-supervised setting. Objective: The primary objective of this study was to demonstrate the repeat-dose efficacy, safety and tolerability of sufentanil 20 mcg and 30 mcg sublingual tablets compared to placebo for the management of acute pain as determined by the time-weighted sum of pain intensity differences (SPID) to baseline over the 12-hour study period (SPID12). Key secondary efficacy variables included SPID over the first hour (SPID1), Total pain relief over the 12-hour study period (TOTPAR12), time to perceived pain relief (PR) and time to meaningful PR. Safety variables consisted of adverse events (AE), vital signs, oxygen saturation and early termination. Methods: In this Phase 2, double-blind, dose-finding study, an equal number of male and female patients were randomly assigned in a 2:2:1 ratio to SST 20 mcg, SS 30 mcg or placebo, respectively, following bunionectomy. Study drug was dosed as needed, but not more frequently than hourly. Rescue medication was available as needed. The primary endpoint was the Summed Pain Intensity Difference to baseline over 12h (SPIDI2). Safety was assessed by continuous oxygen saturation monitoring and adverse event reporting. Results: 101 patients (51 Male/50 Female) were randomized, 100 received study treatment (intent-to-treat [ITT] population), and 91 completed the study. Reasons for early discontinuation were lack of efficacy (6), adverse events (2) and drug-dosing error (1). Mean age was 42.5 years. For the ITT population, SST 30 mcg was superior to placebo (p=0.003) for the SPID12. SPID12 scores in the active groups were superior for both male (ANOVA overall p-value =0.038) and female (ANOVA overall p-value=0.005) patients. Statistically significant differences in favour of sublingual sufentanil were also observed between the SST 30mcg and placebo group for SPID1(p<0.001), TOTPAR12(p=0.002), time to perceived PR (p=0.023) and time to meaningful PR (p=0.010). Nausea, vomiting and somnolence were more frequent in the sufentanil groups but there were no significant differences between treatment arms for the proportion of patients who prematurely terminated due to AE or inadequate analgesia. Conclusions: Sufentanil tablets dispensed sublingually using a single-dose applicator is in development for treatment of patients with moderate-to-severe acute pain in a medically-supervised setting where immediate IV access is limited. When administered sublingually, sufentanil’s pharmacokinetic profile and non-invasive delivery makes it a useful alternative to IM or IV dosing.Keywords: acute pain, pain management, sublingual, sufentanil
Procedia PDF Downloads 35624696 Emotional Intelligence as a Correlate of Conflict Management Styles among Managers and Supervisors in Work Organizations in Nigeria
Authors: Solomon Ojo
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The study investigated emotional intelligence as a correlate of conflict management styles among managers and supervisors in work organization. The study was a survey and Ex-post facto design was employed. A total of 407 participants took part in the study, and the participants were selected across different work organizations in the six (6) existing Geo-political zones in Nigeria, namely South-West, South East, South-South, North-East, North-West and North-Central. Questionnaire format was used for data collection in the study. Collected data were analyzed by both the Descriptive and Inferential Statistics, specifically using the Statistical Package for Social Sciences (SPSS) version 21.0. The findings revealed that considerate leadership style was significantly and positively related to the use of collaborating conflict management style, [r(405) = .50**, P < .01]; Considerate leadership style was significantly and positively related to the use of compromising conflict management style, [r(405) = .3**, P < .01]; Considerate leadership style was significantly and positively related to accommodation conflict management style, [r(405) = .64**, P < .01]; Considerate leadership style was not significantly related to competing conflict management style, [r(405) = .07, P > .05]; Considerate leadership style was significantly and negatively related to avoiding conflict management style, [r(405) = -.38**, P < .01]. Further, initiating structural leadership style was significantly and positively related to competing conflict management style, [r(405) = .33**, P < .01], avoiding conflict management style, [r(405) = .41**, P < .01]; collaborating conflict management style [r(405) = 51**, P < .01]. However, the findings showed that initiating structural leadership style was significantly and negatively related to compromising style, [r(405) = -.57**, P < .01] and accommodating style, [r(405) = -.13**, P < .01]. The findings were extensively discussed in relation to the existing body of literature. Moreover, it was concluded that leadership styles of managers and supervisors play a crucial role in the choice and use of conflict management styles in work organizations in Nigeria.Keywords: conflict management style, emotional, intelligence, leadership style, consideration, initiating structure, work organizations
Procedia PDF Downloads 26524695 A Conceptual Framework for Managing Municipal Finances in South Africa
Authors: Abongile Zweni
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As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.Keywords: leadership, municipal finance, financial performance, management skills, municipality
Procedia PDF Downloads 31124694 Forecasting the Volatility of Geophysical Time Series with Stochastic Volatility Models
Authors: Maria C. Mariani, Md Al Masum Bhuiyan, Osei K. Tweneboah, Hector G. Huizar
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This work is devoted to the study of modeling geophysical time series. A stochastic technique with time-varying parameters is used to forecast the volatility of data arising in geophysics. In this study, the volatility is defined as a logarithmic first-order autoregressive process. We observe that the inclusion of log-volatility into the time-varying parameter estimation significantly improves forecasting which is facilitated via maximum likelihood estimation. This allows us to conclude that the estimation algorithm for the corresponding one-step-ahead suggested volatility (with ±2 standard prediction errors) is very feasible since it possesses good convergence properties.Keywords: Augmented Dickey Fuller Test, geophysical time series, maximum likelihood estimation, stochastic volatility model
Procedia PDF Downloads 31524693 The UNESCO Management Plan for Urban Heritage Sites: A Critical Review of Olinda and Porto, in Brazil and Portugal
Authors: Francine Morales Tavares, Jose Alberto Rio Fernandes
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The expanding concept of Heritage and the increased relevance of how heritage places relate to their surroundings is associated with an important shift in public heritage policies and how they consider the development of cities and communities, with an increasingly relevant role of management. Within the current discussions, management plans, mandatory since the year 2005 in areas classified by UNESCO as World Heritage, it is a tool for the reconciliation of cultural heritage demands with the needs of multiple users of a certain area, being especially critical in the case of urban areas with intense touristic pressure. Considering the transformations of the heritage policy management model, this paper discusses the practices on the integration of cultural heritage in urban policies through indicators which were selected from resource manual 'Managing Cultural World Heritage (2013)' and analyzed two case studies: The Management Plan of the Historic Centre of Porto (Portugal) and The Management Plan for the Historic Site of Olinda (Brazil). The empirical evidence concluded that for the historic centre of Porto the increase of tourism is the main aim driver in the management plan, with positive and negative aspects on the heritage management point of view, unlike Olinda, where the plan for the development of local urban policies was identified as essential. Plans also differ in form, content and process but coincide on being unaligned with committed local political leaders’ agendas, with the consequent misunderstandings between theory and practice, planning and management, and critically missing in the field integration of urban policies. Therefore, more debate about management plans, more efficient tools and also, appropriate methodologies to correlate cultural heritage and urban public policy are still lacking.Keywords: world heritage, management plan, planning, urban policies
Procedia PDF Downloads 15824692 Impediments to Female Sports Management and Participation: The Experience in the Selected Nigeria South West Colleges of Education
Authors: Saseyi Olaitan Olaoluwa, Osifeko Olalekan Remigious
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The study was meant to identify the impediments to female sports management and participation in the selected colleges. Seven colleges of education in the south west parts of the country were selected for the study. A total of one hundred and five subjects were sampled to supply data. Only one hundred adequately completed and returned, copies of the questionnaire were used for data analysis. The collected data were analysed descriptively. The result of the study showed that inadequate fund, personnel, facilities equipment, supplies, management of sports, supervision and coaching were some of the impediments to female sports management and participation. Athletes were not encouraged to participate. Based on the findings, it was recommended that the government should come to the aid of the colleges by providing fund and other needs that will make sports attractive for enhanced participation.Keywords: female sports, impediments, management, Nigeria, south west, colleges
Procedia PDF Downloads 40924691 Investigating the Characteristics of Correlated Parking-Charging Behaviors for Electric Vehicles: A Data-Driven Approach
Authors: Xizhen Zhou, Yanjie Ji
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In advancing the management of integrated electric vehicle (EV) parking-charging behaviors, this study uses Changshu City in Suzhou as a case study to establish a data association mechanism for parking-charging platforms and to develop a database for EV parking-charging behaviors. Key indicators, such as charging start time, initial state of charge, final state of charge, and parking-charging time difference, are considered. Utilizing the K-S test method, the paper examines the heterogeneity of parking-charging behavior preferences among pure EV and non-pure EV users. The K-means clustering method is employed to analyze the characteristics of parking-charging behaviors for both user groups, thereby enhancing the overall understanding of these behaviors. The findings of this study reveal that using a classification model, the parking-charging behaviors of pure EVs can be classified into five distinct groups, while those of non-pure EVs can be separated into four groups. Among them, both types of EV users exhibit groups with low range anxiety for complete charging with special journeys, complete charging at destination, and partial charging. Additionally, both types have a group with high range anxiety, characterized by pure EV users displaying a preference for complete charging with specific journeys, while non-pure EV users exhibit a preference for complete charging. Notably, pure EV users also display a significant group engaging in nocturnal complete charging. The findings of this study can provide technical support for the scientific and rational layout and management of integrated parking and charging facilities for EVs.Keywords: traffic engineering, potential preferences, cluster analysis, EV, parking-charging behavior
Procedia PDF Downloads 7724690 Importance of Infrastucture Delivery and Management in South Africa
Authors: Onyeka Nkwonta, Theo Haupt, Karana Padayachee
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This study aims primarily to identify potential causes of the bottlenecks in the public sector that affect delivery and formulate evidence-based interventions to improve delivery and management of infrastructure projects. An initial literature review was carried out on infrastructural development and delivery in South Africa, with the aim to formulate evidence-based interventions to improve delivery within the sector. The infrastructure delivery management model was developed to map out best practice delivery processes. These will become the backbone on which improvement initiatives that will be developed within participating stakeholders. The model will, in turn, support a range of methodologies, including the risk system and a knowledge management framework. It will also look at key challenges facing departments with the ability to ensure knowledge and skills transfer at various sectors. The research is limited because the findings were based on existing literature. This study adopted an indirect approach for infrastructure management by focussing on the challenges faced and approaches adopted to overcome these challenges. This may narrow the consideration of some of the viewpoints, thereby limiting the richness of experience available to this research.Keywords: infrastructure, management, challenges, South Africa
Procedia PDF Downloads 13824689 Self-Disclosure and Privacy Management Behavior in Social Media: Privacy Calculus Perspective
Authors: Chien-Wen Chen, Nguyen Duong Thuy Trang, Yu-Hsuan Chang
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With the development of information technology, social networking sites are inseparable from life and have become an important way for people to communicate. Nonetheless, privacy issues are raised by the presence of personal information on social networking sites. However, users can benefit from using the functions of social networking sites, which also leads to users worrying about the leakage of personal information without corresponding privacy protection behaviors, which is called the privacy paradox. However, previous studies have questioned the viewpoint of the privacy paradox, believing that users are not so naive and that people with privacy concerns will conduct privacy management. Consequently, this study is based on the view of privacy calculation perspective to investigate the privacy behavior of users on social networking sites. Among them, social benefits and privacy concerns are taken as the expected benefits and costs in the viewpoint of privacy calculation. At the same time, this study also explores the antecedents, including positive feedback, self-presentation, privacy policy, and information sensitivity, and the consequence of privacy behavior of weighing benefits and costs, including self-disclosure and three privacy management strategies by interpersonal boundaries (Preventive, Censorship, and Corrective). The survey respondents' characteristics and prior use experience of social networking sites were analyzed. As a consequence, a survey of 596 social network users was conducted online to validate the research framework. The results show that social benefit has the greatest influence on privacy behavior. The most important external factors affecting privacy behavior are positive feedback, followed by the privacy policy and information sensitivity. In addition, the important findings of this study are that social benefits will positively affect privacy management. It shows that users can get satisfaction from interacting with others through social networking sites. They will not only disclose themselves but also manage their privacy on social networking sites after considering social benefits and privacy management on social networking sites, and it expands the adoption of the Privacy Calculus Perspective framework from prior research. Therefore, it is suggested that as the functions of social networking sites increase and the development of social networking sites, users' needs should be understood and updated in order to ensure the sustainable operation of social networking.Keywords: privacy calculus perspective, self-disclosure, privacy management, social benefit, privacy concern
Procedia PDF Downloads 8924688 Knowledge Management for Competitiveness and Performances in Higher Educational Institutes
Authors: Jeyarajan Sivapathasundram
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Knowledge management has been recognised as an emerging factor for being competitive among institutions and performances in firms. As such, being recognised as knowledge rich institution, higher education institutes have to be recognised knowledge management based resources for achieving competitive advantages. Present research picked result out of postgraduate research conducted in knowledge management at non-state higher educational institutes of Sri Lanka. Besides, the present research aimed to discover knowledge management for competition and firm performances of higher educational institutes out of the result produced by the postgraduate study. Besides, the results are found in a pair that developed out of knowledge management practices and the reason behind the existence of the practices. As such, the present research has developed a filter to pick the pairs that satisfy its condition of competition and performance of the firm. As such, the pair, such as benchmarking is practised to be ethically competing through conducting courses. As the postgraduate research tested results of foreign researches in a qualitative paradigm, the finding of the present research are generalise fact for knowledge management for competitiveness and performances in higher educational institutes. Further, the presented research method used attributes which explain competition and performance in its filter to discover the pairs relevant to competition and performances. As such, the fact in regards to knowledge management for competition and performances in higher educational institutes are presented in the publication that the presentation is out of the generalised result. Therefore, knowledge management for competition and performance in higher educational institutes are generalised.Keywords: competition in and among higher educational institutes, performances of higher educational institutes, noun based filtering, production out of generalisation of a research
Procedia PDF Downloads 13624687 Correlation Analysis of Energy Use, Architectural Design and Residential Lifestyle in Japan Smart Community
Authors: Tran Le Na, Didit Novianto, Yoshiaki Ushifusa, Weijun Gao
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This paper introduces the characteristics of Japanese residential lifestyle and Japanese Architectural housing design, meanwhile, summarizes the results from an analysis of energy use of 12 households in electric-only multi dwellings in Higashida Smart Community, Kitakyushu, Japan. Using hourly load and daily load data collected from smart meter, we explore correlations of energy use in households according to the incentive of different levels of architectural characteristics and lifestyle, following three factors: Space (Living room, Kitchen, Bedroom, Bathroom), Time (daytime and night time, weekdays and weekend) and User (Elderly, Parents, Kids). The energy consumption reports demonstrated that the essential demand of household’s response to variable factors. From that exploratory analysis, we can define the role of housing equipment layout and spatial layout in residential housing design. Likewise, determining preferred spaces and time use can help to optimize energy consumption in households. This paper contributes to the application of Smart Home Energy Management System in Smart Community in Japan and provides a good experience to other countries.Keywords: smart community, energy efficiency, architectural housing design, residential lifestyle
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