Search results for: business improvement district

Authors: Nana Katsitadze, Tamar Atanelishvili, Mariam Kutateladze, Alexandre Tushishvili

Abstract:

In the modern world, tourism has emerged as one of the most powerful economic sectors, and due to its high economic performance, it is attractive to the countries with various levels of economic development. The purpose of the present paper, dedicated to discussing the current problems of tourism development, is to find ways which will contribute to bringing more benefits to the country from the sector. Georgia has been successfully developing leisure tourism for the last ten years, and at the next stage of development business, tourism gains particular importance for Georgia as a means of mitigating the negative socio-economic effects caused by the seasonality of tourism and as a high-cost tourism market. Therefore, the object of the paper is to study the factors that contribute to the development of business tourism. The paper uses the research methods such as system analysis, synthesis, analogy, as well as historical, comparative, economic, and statistical methods of analysis. The information base for the research is made up of the statistics on the functioning of the tourism market of Georgia and foreign countries as well as official data provided by international organizations in the field of tourism. Based on the experience of business tourism around the world and identifying the successful start of business tourism development in Georgia and its causing factors, a business tourism development model for Georgia has been developed. The model might be useful as a methodological material for developing a business tourism development concept for the countries with limited financial resources but rich in tourism resources like Georgia. On the initial stage of development (in absence of conventional centers), the suggested concept of business tourism development involves organizing small and medium-sized meetings both in large cities and in regions by using high-class hotel infrastructure and event management services. Relocation of small meetings to the regions encourages inclusive development of the sector based on increasing the awareness of these regions as tourist sites as well as the increase in employment and sales of other tourism or consumer products. Business tourism increases the number of hotel visitors in the non-seasonal period and improves hotel performance indicators, which enhances the attractiveness of investing in the hotel business. According to the present concept of business tourism development, at the initial stage, development of business tourism is based on the existing markets, including internal market, neighboring markets and the markets of geographically relatively near countries and at the next stage, the concept involves generating tourists from other relatively distant target markets. As a result, by gaining experience in business tourism, enhancing professionalism, increasing awareness and stimulating infrastructure development, the country will prepare the basis to move to a higher stage of tourism development. In addition, the experience showed that for attracting large customers, peculiarities of the field require activation of state policy and active use of marketing mechanisms and tools of the state.

Keywords: hotel industry development, MICE model, MICE strategy, MICE tourism in Georgia

Procedia PDF Downloads 150

Authors: Pariwat Somnuek

Abstract:

This study focused on tourism logistic services in the border areas of Thailand by an analysis and comparison of the opinions of tourists, villagers, and entrepreneurs of these services. Sample representatives of this study were a total of 600 villagers and 15 entrepreneurs in the three border areas consisting of Chong Anma, Chong Sa-Ngam, and Chong Jom checkpoints. For methodology, survey questionnaires, situation analysis, TOWS matrix, and focus group discussions were used for data collection, as well as descriptive analysis and statistics such as arithmetic means and standard deviations, were employed for data analysis. The findings revealed that business potential was at the medium level and entrepreneurs were satisfied with their turnovers. However, perspectives of transportation and tourism services provided for tourists need to be immediately improved. Recommendations for the potential development included promotion of border tourism destinations and foreign investments into accommodation, restaurants, and transport, as well as the establishment of business networks between Thailand and Cambodia, along with the introduction of new tourism destinations by co-operation between entrepreneurs in both countries. These initiatives may lead to increased visitors, collaboration of security offices, and an improved image of tourism security.

Keywords: business potential, potential development, tourism logistics, services

Procedia PDF Downloads 306

Authors: Isaac Yeboah

Abstract:

Physical activity (PA) is considered the best preventative tool for maintaining physical health and extending lifespan because it offers a range of benefits. However, for people to benefit from physical activity, it must be done at a level that can enhance fitness, health, and overall well-being. Therefore, this study aimed to determine the link between physical activity participation levels and cardiorespiratory fitness (CRF). The study employed the descriptive correlational design. The census sampling technique included all 190 teaching staff from the two senior high schools in the Dormaa East District. An adapted International Physical Activity Questionnaire (IPAQ) and standardized physical fitness tests were used for data collection. Descriptive statistics of frequency counts and percentages were used to answer the research questions, while inferential statistics of Pearson Product Moment Correlation and the independent sample t-test were used to test hypotheses one and two, respectively. A moderately negative (r = -.156) relationship existed between physical activity participation levels and CRF. Female teachers demonstrated a statistically significant value (p = .045) than males. The study concluded that the reported physical activity levels of the teachers did not reflect their CRF. The implication is that either the participants overestimated their physical activity participation levels or the intensity of the activities was not high enough to affect physiological changes. For the teachers' CRF to improve, it was suggested, among other things, that regular physical activity sessions of the appropriate mixes of FITT be organized.

Keywords: physical activity, participation levels, cardiorespiratory fitness, sedentary lifestyle, teachers

Procedia PDF Downloads 63

Authors: Diobein C. Flores

Abstract:

The populace in Municipality of Talaingod is composed of Ata-Manobo. The said lumads enrich their culture, orientation and self because the place is a hive of their tribe. In lieu, the study would analyze the participation of the Ata-Manobo in the making of school improvement plan (SIP). Thus, it recommends alternative policy options that would help strengthen their involvement. The school stakeholders-Ata Manobo representatives from students, parent-teacher association, alumni, basic sector, municipal/barangay government unit, civic/social organizations and other government various agencies are the key participants in this study. The research used descriptive design. The responses of the representatives were analyzed through the criteria involved in employing Rational Model. The technical dimension, administrative, political acceptability and economic are the criteria in revealing decision. The policy alternative option 3- recommends to formulate policy for the purpose of capacitating stakeholders or governing council members in the making of SIP was pointed out as the most preferred option. This could strengthen the participation among Ata-Manobo as stakeholders in planning. Hence, the formulation alternative policy- capacitating stakeholders in the crafting of school improvement plan is recommended. The suggested initiative would assist the Department of Education in forging consensus across neighborhoods during the making of SIP. The appropriation of the definite budget to be used during the conduct of capability building activities is also suggested. Training-workshops are identified as possible intervention to ensure that the stakeholders are equipped with necessary knowledge and skills needed in the making of SIP. Indeed, the equal opportunities for all stakeholders regardless of their life circumstances must be noted. With the belief, people must be empowered to take advantage and spearhead progress in the making of SIP.

Keywords: Ata-Manobo Tribe, stakeholders, school improvement plan, Municipality of Talaingod, Philippines

Procedia PDF Downloads 320

Authors: Soukat Kumar Das

Abstract:

Rapid industrialization and increase in population has resulted in the scarcity of suitable ground conditions. It has driven the need of ground improvement by means of reinforcement with geosynthetics with the minimum possible settlement and with maximum possible safety. Prestressing the geosynthetics offers an economical yet safe method of gaining the goal. Commercially available software PLAXIS 3D has made the analysis of prestressed geosynthetics simpler with much practical simulations of the ground. Attempts have been made so far to analyse the effect of prestressing geosynthetics and the effect of interference of footing on Unreinforced (UR), Geogrid Reinforced (GR) and Prestressed Geogrid Reinforced (PGR) soil on the load bearing capacity and the settlement characteristics of prestressed geogrid reinforced soil using the numerical analysis by using the software PLAXIS 3D. The results of the numerical analysis have been validated and compared with those given in the referred paper. The results have been found to be in very good agreement with those of the actual field values with very small variation. The GR soil has been found to be improve the bearing pressure 240 % whereas the PGR soil improves it by almost 500 % for 1mm settlement. In fact, the PGR soil has enhanced the bearing pressure of the GR soil by almost 200 %. The settlement reduction has also been found to be very significant as for 100 kPa bearing pressure the settlement reduction of the PGR soil has been found to be about 88 % with respect to UR soil and it reduced to up to 67 % with respect to GR soil. The prestressing force has resulted in enhanced reinforcement mechanism, resulting in the increased bearing pressure. The deformation at the geogrid layer has been found to be 13.62 mm for GR soil whereas it decreased down to mere 3.5 mm for PGR soil which certainly ensures the effect of prestressing on the geogrid layer. The parameter Improvement factor or conventionally known as Bearing Capacity Ratio for different settlements and which depicts the improvement of the PGR with respect to UR and GR soil and the improvement of GR soil with respect to UR soil has been found to vary in the range of 1.66-2.40 in the present analysis for GR soil and was found to be vary between 3.58 and 5.12 for PGR soil with respect to UR soil. The effect of prestressing was also observed in case of two interfering square footings. The centre to centre distance between the two footings (SFD) was taken to be B, 1.5B, 2B, 2.5B and 3B where B is the width of the footing. It was found that for UR soil the improvement of the bearing pressure was up to 1.5B after which it remained almost same. But for GR soil the zone of influence rose up to 2B and for PGR it further went up to 2.5B. So the zone of interference for PGR soil has increased by 67% than Unreinforced (UR) soil and almost 25 % with respect to GR soil.

Keywords: bearing, geogrid, prestressed, reinforced

Procedia PDF Downloads 399

Authors: Guilherme Gorgulho, Carlos Roberto Camello Lima

Abstract:

Critical success factors (CSF) are used to design the practice of project management that can lead directly or indirectly to the success of the project. This management includes many elements that have to be synchronized in order to ensure the project on-time delivery, quality and the lowest possible cost. The objective of this work is to develop a proposal for evaluation of the FCS in lean manufacturing projects, and apply the evaluation in a pilot project. The results show that the use of continuous improvement programs in organizations brings benefits as the process cost reduction and improve productivity.

Keywords: continuous improvement, critical success factors (csf), lean thinking, project management

Procedia PDF Downloads 357

Authors: Victor Birikorang Danquah

Abstract:

Ghana's primary energy supply is heavily reliant on petroleum, biomass, and hydropower. Currently, Ghana gets its energy from hydropower (Akosombo and Bui), thermal power plants powered by crude oil, natural gas, and diesel, solar power, and imports from La Cote d'Ivoire. Until the early 2000s, large hydroelectric dams dominated Ghana's electricity generation. Due to unreliable weather patterns, Ghana increased its reliance on thermal power. However, thermal power contributes the highest percentage in terms of electricity generation in Ghana and is predominantly supplied by Independent Power Producers (IPPs). Ghana's electricity industry operates the corporate utility model as its business model. This model is typically' vertically integrated,' with a single corporation selling the majority of power generated by its generation assets to its retail business, which then sells the electricity to retail market consumers. The corporate utility model has a straightforward value proposition that is based on increasing the number of energy units sold. The unit volume business model drives the entire energy value chain to increase throughput, locking system users into unsustainable practices. This report uses the qualitative research approach to explore the electricity industry in Ghana. There is a need for increasing renewable energy, such as wind and solar, in electricity generation. The research recommends two critical business models for the penetration of renewable energy in Ghana's power sector. The first model is the peer-to-peer electricity trading model, which relies on a software platform to connect consumers and generators in order for them to trade energy directly with one another. The second model is about encouraging local energy generation, incentivizing optimal time-of-use behaviour, and allowing any financial gains to be shared among the community members.

Keywords: business model innovation, electricity generation, renewable energy, solar energy, sustainability, wind energy

Procedia PDF Downloads 174

Authors: Vithaya Intraphimol

Abstract:

The purpose of this study is to investigate the relationship between market orientation and business performance through innovations that include product innovation and process innovation. Auto parts and accessories companies in Thailand were used as sample for this investigation. Survey research with structured questionnaire was used as the key instrument in collecting the data. The structural equation modeling (SEM) was assigned test the hypotheses. The sample size in this study requires the minimum sample size of 200. The result found that competitor orientation, and interfunctional coordination has an effect on product innovation. Moreover, interfunctional coordination has an effect on process innovation, and return on asset. This indicates that within- firm coordination has crucial to firms’ performances. The implication for practice, firms should support interfunctional coordination that members of different functional areas of an organization communicate and work together for the creation of value to target buyers they may have better profitability.

Keywords: auto parts industry, business performance, innovations, market orientation

Procedia PDF Downloads 305

Authors: A. P. Puvanasvaran, Suresh A. L. Vasu, N. Norazlin

Abstract:

The Lean Environmental Management Integration System (LEMIS) framework development is integration between lean core element and ISO 14001. The curiosity on the relationship between continuous improvement and sustainability of lean implementation has influenced this study toward LEMIS. Characteristic of ISO 14001 standard clauses and core elements of lean principles are explored from past studies and literature reviews. Survey was carried out on ISO 14001 certified companies to examine continual improvement by implementing the ISO 14001 standard. The study found that there is a significant and positive relationship between Lean Principles: value, value stream, flow, pull and perfection with the ISO 14001 requirements. LEMIS is significant to support the continuous improvement and sustainability. The integration system can be implemented to any manufacturing company. It gives awareness on the importance on why organizations need to sustain its Environmental management system. At the meanwhile, the lean principle can be adapted in order to streamline daily activities of the company. Throughout the study, it had proven that there is no sacrifice or trade-off between lean principles with ISO 14001 requirements. The framework developed in the study can be further simplified in the future, especially the method of crossing each sub requirements of ISO 14001 standard with the core elements of Lean principles in this study.

Keywords: LEMIS, ISO 14001, integration, framework

Procedia PDF Downloads 402

Authors: Marta Fernández Olmos, Ana Gargallo Castel, Alice Salami

Abstract:

The literature has shown the importance of studying the issue of business survival in highly competitive environments. In particular, the wine sector has certain characteristics that make it interesting to study factors that increase the possibility of wineries' survival, such as individual productivity, winery size, age, innovation efforts or the maturity of the industry itself, among others. Due to the importance of these factors, this research aims to analyze whether the possibility of wineries' survival increases if they are family businesses or if there is gender diversity in senior management. To this end, a nationwide survey was carried out. The sample was made up of wineries from all the Spanish appellations of origin, using this sample to analyze the survival of the diverse types of wineries according to the factors to be studied. The main results indicate that family wineries survive longer, suggesting that this may be due to the fact that the main objective of family wineries is the continuity of the business in the long term. Regarding gender diversity, wineries that have a female presence in top roles in management, adding gender diversity, survive more than those with a predominantly male presence. Based on these results, it is advisable to consider the importance of family businesses, especially in this type of sector. In addition, support should be provided for the inclusion of a female labor force to improve the possibility of survival.

Keywords: gender, family business, wine industry, survival

Procedia PDF Downloads 71

Authors: Yichen Lin, Hsiao-Han Chen, Chi-Chen Jan

Abstract:

Since 1990, the research area of Integrated Marketing Communications (IMC) has been presented from a different perspective. With advances in information technology and the rise of consumer consciousness, businesses are in a competitive environment. There is an urgent need to adopt more profitable and effective integrated marketing strategies to increase core competitiveness. The goal of the company's sustainable management is to increase consumers' willingness to purchase and to maximize profits. This research uses six aspects of IMC, which includes awareness integration, unified image, database integration, customer-based integration, stakeholders-based integration, and evaluation integration to examine the role of marketing strategies in the strengths and weaknesses of the six components of integrated marketing communications, their effectiveness, the most important components and the most important components that need improvement. At the same time, social media such as FaceBook, Instagram, Youtube, Line, or even TikTok have become marketing tools which firms adopt them more and more frequently in the marketing strategy. In the end of 2019, the outbreak of COVID-19 did really affect the global industries. Lockdown policies also accelerated closure of brick-mentor stores worldwide. Online purchases rose dramatically. Hence, the effectiveness of online marketing will be essential to maintain the business. This study uses multiple-case studies to extend the effects of social media and IMC. Moreover, the study would also explore the differences of social media and IMC during COVID-19. Through literature review and multiple-case studies, it is found that using social media combined with IMC did really help companies expand their business and make good connections with stakeholders. One of previous studies also used system theory to explore the interrelationship among Integrated Marketing Communication, collaborative marketing, and global brand building. Even during pandemic, firms could still maintain the operation and connect with their customers more tightly.

Keywords: integration marketing communications, multiple-case studies, social media, system theory

Procedia PDF Downloads 225

Authors: Burova Anna

Abstract:

The current reality, changes in the world system, and the accelerating process of internationalization of the economies of the Middle East, Asia, and Africa dictate new challenges and opportunities. As cultural identity comes to the fore, understanding and developing cross-cultural competencies for effective collaboration becomes essential. Today, we are experiencing both -the integration of the world's economies and cultural disintegration, as each country feels the need for its own cultural, political, and economic sovereignty. Global and effective economic ties are critically needed at this stage of our common historical development. The role of intercultural aspects and sociocultural characteristics of our partners and colleagues cannot be exaggerated. This article presents an analysis of the most common intercultural conflicts in the general corporate environment and current ways of preventing as well as resolving them. A comparative analysis of business communications has revealed certain features of interaction. Based on contextual “landmarks” and points of fundamental disagreement in the perception of verbal and non-verbal messages of representatives of different national cultures, practical conclusions were drawn, and specific recommendations were formed to overcome weaknesses and develop strengths to establish closer and more effective economic and business ties in the international community.

Keywords: cross-cultural business communications, management of cross-cultural teams, intercultural conflicts prevention, intercultural competencies development, management, cross-culture

Procedia PDF Downloads 52

Authors: Abiola Ayopo Abiodun, Zalihe Nalbantoglu

Abstract:

The electrokinetic application (EKA), a relatively modern chemical treatment has a potential for in-situ ground improvement in an open field or under existing structures. It utilizes a low electrical gradient to transport electrolytic chemical ions between bespoke electrodes inserted in the fine-grained, low permeable soft soils. The paper investigates the efficacy of the EKA as a mitigation technique for the soft clay beds. The laboratory model of the EKA comprises of rectangular plexiglass test tank, electrolytes compartments, geosynthetic electrodes and direct electric current supply. Within this setup, the EK effects resulted from the exchange of ions between anolyte (anodic) and catholyte (cathodic) ends through the tested soil were examined by basic experimental laboratory testing methods. As such, the treated soft soil properties were investigated as a function of the anode-to-cathode distances and curing periods. The test results showed that there have been some changes in the physical and engineering properties of the treated soft soils. The significant changes in the physicochemical and electrical properties suggested that their corresponding changes can be utilized as a monitoring technique to evaluate the improvement in the engineering properties EK treated soft clay soils.

Keywords: electrokinetic, electrolytes, exchange ions, geosynthetic electrodes, soft soils

Procedia PDF Downloads 306

Authors: Hsiu Hua Hu

Abstract:

Digital transformation has widely affected various industries. It provides technological innovation, process redesign, new business model construction, and talent value creation. This transformation not only allows organizations to obtain and deploy specific technologies and methods suitable for organizational reengineering but also is an important way to solve management problems in human resource (HR) reengineering, business efficiency, and process redesign. In this study, we present the results of a qualitative study that offers insight into a series of key feature of reengineering related to the digital transformation and how to create talent value when the companies successfully perform digital transformation and human resource reengineering, which is led by business digitalization strategies including talent planning, talent acquisition, talent adjustment, and talent development. Drawing from the qualitative investigation findings, we built an inductive model of HR reengineering, which aims to provide research and practical references on future digital transformation and management inquiry.

Keywords: talent value creation, digital transformation, HR reengineering, qualitative study

Procedia PDF Downloads 150

Authors: Hilman Agil Satria, Rezky Naufan Hendrawan

Abstract:

Indonesia is vulnerable to geological hazard because of its location in subduction zone and have tropical climate. Landslide is one of the most happened geological hazard in Indonesia, based on Indonesia Geospasial data, at least 194 landslides recorded in 2013. In fact, research location is placed as the third city that most happened landslide in Indonesia. Landslide caused damage of many houses and wrecked the road. The purpose of this research is to make a landslide zone therefore can be used as one of mitigation consideration. The location is in Bruno, Porworejo district Central Java Province Indonesia at 109.903 – 109.99 and -7.59 – -7.50 with 10 Km x 10 Km wide. Based on geological mapping result, the research location consist of Late Miocene sandstone and claystone, and Pleistocene volcanic breccia and tuff. Those landslide happened in the lithology that close with fault zone. This location has so many geological structures: joints, faults and folds. There are 3 thrust faults, 1 normal faults, 4 strike slip faults and 6 folds. This geological structure movement is interpreted as the main factor that has triggered landslide in this location. This research use field data as well as samples of rock, joint, slicken side and landslide location which is combined with DEM SRTM to analyze geomorphology. As the final result of combined data will be presented as geological map, geological structure map and landslide zone map. From this research we can assume that there is correlation between geological structure and landslide locations.

Keywords: geological structure, landslide, Porworejo, Indonesia

Procedia PDF Downloads 284

Authors: Nazmul Hussain, Saba Owais

Abstract:

The paper is an effort to come across the fertility differential by religion and socio-economic characteristic by religion. Religion and Socio-economic characteristic are conceptualised as touching demography in two ways- through its theoretical content, and in terms of the socio-economic ‘characteristics’ of different religious groups. The mean number of children ever born (MCEB) is used to measure fertility. Efficient contrast of Muslims and Non-Muslims shows little difference in their theological positions on demographic issues, with the omission of their position on birth control. The present paper using data from a primary field survey of 2590 households in the Malda district of West Bengal. Older and younger cohorts of women were examined separately for assessing fertility differential. MCEB was found to be high for women with husbands employed as labourers with a low monthly income. This was true for both the cohorts, but fertility levels were much higher among the older cohort. Low MCEB was found with increasing income and for those in regular salaried jobs. The analysis shows that there is a major dissimilarity in the effects of various socio-economic aspects on the number of children-ever-born among the religious groups, suggesting that religious groups may need to be targeted differently by policy-makers in order to influence demographic decision-making.

Keywords: fertility, socio-economic differences, religion, MCEB

Procedia PDF Downloads 374

Authors: Kuo-Wei Hsu, Yen-Ting, Wu

Abstract:

Recently, green marketing issues have emerged as the developing direction for local governments and social enterprises. At the same time, many social enterprises have considered how to effectively create a low-carbon and sustainable environment. Local government has a role to play in promoting low-carbon life styles and creating a green sustainable environment within this green marketing trend. Therefore, urban commercial centers have implemented relevant plans such as: Green Store, Green Action Shops, Green Restaurants and Green Hotels. The purpose of these plans to select the commercial center organizations have potential energy saving demonstration and environmental greenification. These organizations are willing to provide assistance counseling and become a green demonstration district, thereby promoting the major shopping district to take the initiative to enhance its green competitiveness. Finally, they create a new landscape for the commercial center. Studies on green marketing in commercial centers are seen as less attractive and only a few studies for commercial centers have focused on green marketing strategies. There is no empirical evidence for how commercial center managers evaluate a commercial center green marketing strategy. This research investigated the major commercial centers in Taichung City and found green marketing helps to enhance the connection between the urban commercial center value and society value, shape corporate image with social responsibility and create brand value, and therefore impact the increase of economic value.

Keywords: economic value added, green marketing, sustainable environment, urban commercial center.

Procedia PDF Downloads 364

Authors: Priscilla Omonedo, Paul Bocij

Abstract:

Since the emergence of e-commerce, the world of business has witnessed a radical shift in the way business activities are conducted. However, the emergence of m-Commerce has further pushed the boundaries of virtual commerce revolution. As a result, there seems to be a growing blur in the distinction between e-Commerce and m-Commerce. In addition, existing definitions for both forms of commerce highlight characteristics (e.g. type of device and activity conducted) that may be applicable to both concepts. The aim of this paper is to identify the characteristics that help define and delineate between e- and m- Commerce. The paper concludes that characteristics of mobility, ubiquity, and immediacy provides a clearer and simpler template to distinguish between e-commerce and m-commerce.

Keywords: e-commerce, m-commerce, mobility, ubiquity

Procedia PDF Downloads 535

Authors: Oloniyo Kemisola Eunice, Odere Oladunni Oluwafeyikemi

Abstract:

Technological change and globalization have created a new global economy with Information and Communication Technology (ICT) occupying a complex position in relation to globalization. The emergence of this new global economy has serious implications on the nature and purpose of educational institutions. The paper is basically a theoretical discourse. Data for analysis were obtained from secondary sources. The paper found that significant challenges confront the integration of ICTs in education in the areas of educational policy and planning, infrastructure, language and content, capacity building and financing in Nigeria. The paper concluded that business education needs to be well equipped to anticipate and respond to opportunities created by ICTs in order to participate productively and equitably in an increasingly technology-rich and knowledge-driven world. The paper recommended, among others, that the investments in ICTs should be used to promote the development of basic skills, problem-solving and communication skills and the professional development of teachers.

Keywords: information, communication, technology, business, education

Procedia PDF Downloads 376

Authors: Ranjith Ihalanayake, Lalith Seelanatha, John Breen

Abstract:

In this study, we explored the current working capital management practices as applied in small businesses in Victoria, filling an existing theoretical and empirical gap in literature in general and in Australia in particular. Amidst the current global competitive and dynamic environment, the short term insolvency of small businesses is very critical for the long run survival. A firm’s short-term insolvency is dependent on the availability of sufficient working capital for feeding day to day operational activities. Therefore, given the reliance for short-term funding by small businesses, it has been recognized that the efficient management of working capital is crucial in respect of the prosperity and survival of such firms. Against this background, this research was an attempt to understand the current working capital management strategies and practices used by the small scale businesses. To this end, we conducted an internet survey among 220 small businesses operating in Victoria, Australia. The survey results suggest that the majority of respondents are owner-manager (73%) and male (68%). Respondents participated in this survey mostly have a degree (46%). About a half of respondents are more than 50 years old. Most of respondents (64%) have business management experience more than ten years. Similarly, majority of them (63%) had experience in the area of their current business. Types of business of the respondents are: Private limited company (41%), sole proprietorship (37%), and partnership (15%). In addition, majority of the firms are service companies (63%), followed by retailed companies (25%), and manufacturing (17%). Size of companies of this survey varies, 32% of them have annual sales $100,000 or under, while 22% of them have revenue more than $1,000,000 every year. In regards to the total assets, majority of respondents (43%) have total assets $100,000 or less while 20% of respondents have total assets more than $1,000,000. In regards to WCMPs, results indicate that almost 70% of respondents mentioned that they are responsible for managing their business working capital. The survey shows that majority of respondents (65.5%) use their business experience to identify the level of investment in working capital, compared to 22% of respondents who seek advice from professionals. The other 10% of respondents, however, follow industry practice to identify the level of working capital. The survey also shows that more than a half of respondents maintain good liquidity financial position for their business by having accounts payable less than accounts receivable. This study finds that majority of small business companies in western area of Victoria have a WCM policy but only about 8 % of them have a formal policy. Majority of the businesses (52.7%) have an informal policy while 39.5% have no policy. Of those who have a policy, 44% described their working capital management policies as a compromise policy while 35% described their policy as a conservative policy. Only 6% of respondents apply aggressive policy. Overall the results indicate that the small businesses pay less attention into the management of working capital of their business despite its significance in the successful operation of the business. This approach may be adopted during favourable economic times. However, during relatively turbulent economic conditions, such an approach could lead to greater financial difficulties i.e. short-term financial insolvency.

Keywords: small business, working capital management, Australia, sufficient, financial insolvency

Procedia PDF Downloads 349

Authors: Wanwimon Mekwimon

Abstract:

Drug addiction is a serious problem in Thailand which has occurred continuously and repeatedly and enormously impacting health and economy of drug users. The indigenous wisdom and folk medicine is an attractive alternative choice, especially in detoxification and rehabilitation period. There are two objectives: First is to study about rehabilitation process and the curing for drug eaters and 2nd is to investigate the effectiveness of the curing and rehabilitation process by indigenous wisdom at Tamkrabok monastery, Pra-Puttabat district, Saraburi province. The main informants are 10 curers, 15 patients and 17 after-1-year rehabilitators. In the process, the semi-structured questionnaire is administered, the data are analyzed and proved by triangulation. The curing and rehabilitation process which use herbal remedies has a period of 15 days (5 days for detoxification and 10 days for recovery period) and the occupational training and self-consciousness awakening were delivered. The follow-up process includes twice-a-month recall for 6 months, follow-up letters and in depth interview with their families. The outcome of 1 year post-treatment was 94% (16 from 17). There are many reasons for not relapsing: the recovering patients have drawn on their inner strength, self-awareness and coping skill as well as their family and social support while rehabilitation process which includes difficulties in contacting with family members. They can void themselves from high risk situations to relapse. Recommendations: The follow-up system should be improved for continuous quality improvement, there should be the qualification standard for herbal remedies and the comparison among rehabilitation process of Tamkrabok and another methods are to be guideline for the further development.

Keywords: rehabilitation, drug addiction, Thai indigenous knowledge, herbal remedies

Procedia PDF Downloads 241

Authors: Mária Hudáková, Mária Lusková

Abstract:

This report is focused on widening the theoretical knowledge as well as controlling practical application from the risk management point of view, regarding to dynamic business changes that have occurred in Slovakia which recently has been considered to be an environment full of risk and uncertainty. The idea of the report is the proposal of the controlling operation model in the course of risk management process in an enterprise operating in Slovakia, by which the controller is able to identify early risk factors in suggested major areas of the business management upon appropriate business information integration, consecutive control and prognoses and to prepare in time full-value documents in order to suggest measures for reduction thereof. Dealing with risk factors, that can quickly limit the growth potential of the enterprise, is an essential part of managerial activities on each level. This is the reason why mutual unofficial, ergo collegial cooperation of individual departments is necessary for controlling application from the business risk management point of view. An important part of the report is elaborated survey of the most important risk factors existing in major management areas of enterprises operating in Slovakia. The outcome of the performed survey is a catalogue of the most important enterprise risk factors. The catalogue serves for better understanding risk factors affecting the Slovak enterprises, their importance and evaluation.

Keywords: controlling, information, risks, risk factor, crisis

Procedia PDF Downloads 392

Authors: Deviana Yuanitasari

Abstract:

The rapid development of world commerce and trade nowadays has created fast-paced demand in every business activities and transactions. That also includes the need for ready to use and practical form of standard contract. For the company or business owner, the use of standard contract is an alternative way to achieve economic goals faster, effectively and efficiently. In the other hand, for the consumer the practice of using standard contract usually unfavorable, because the contract clauses usually have been defined by the company and cannot be individually negotiated. That means consumer cannot influence the substances of the contract clauses. The purpose of this study is to get deeper understanding and analyze the role of Consumer Dispute Settlement Body in the monitoring of standard clause inclusion by businesses and industries within the context of practicing consumer protection law. Furthermore, this study will focus on the procedure of sanction and the effectiveness of the sanction for the business practitioners which disregard the inclusion of the prohibited standard clause. Therefore, this study will depict the law issues and other phenomenon that related with the role of Consumer Dispute Settlement Body in monitoring the inclusion of standard clause and procedure of sanction for the business practitioners that still use exemption clause within Consumer Protection Law System. This study results that BPSK has been assigned to monitor the inclusion of standard clause and settle consumer dispute. At this stage, BPSK role is passive, which means BPSK only takes an action if there are consumer complaints. The procedure of sanction is not part of BPSK tasks, since should there be a violation of standard clause; BPSK can only ask the business practitioners to remove the prohibited clause and not give a sanction. As a result, the procedure of sanction rule for the Standard Clause violation in this context can be considered as ineffective.

Keywords: standard contract, standard clause, consumer protection law, consumer dispute settlement body

Procedia PDF Downloads 326

Authors: Abdullah Al Mamun, Talal Alkharobi

Abstract:

As data size is growing up, people are became more familiar to store big amount of secret information into cloud storage. Companies are always required to need transfer massive business files from one end to another. We are going to lose privacy if we transmit it as it is and continuing same scenario repeatedly without securing the communication mechanism means proper encryption. Although asymmetric key encryption solves the main problem of symmetric key encryption but it can only encrypt limited size of data which is inapplicable for large data encryption. In this paper we propose a probable approach of pretty good privacy for encrypt big data using both symmetric and asymmetric keys. Our goal is to achieve encrypt huge collection information and transmit it through a secure communication channel for committing the business and personal privacy. To justify our method an experimental dataset from three different platform is provided. We would like to show that our approach is working for massive size of various data efficiently and reliably.

Keywords: big data, cloud computing, cryptography, hadoop, public key

Procedia PDF Downloads 315

Authors: Marko Kolakovic

Abstract:

Creative industries are an important sector of growth and development of knowledge economies. They have a positive impact on employment, economic growth, export and the quality of life in the areas where they are developed. Creative sectors include architecture, design, advertising, publishing, music, film, television and radio, video games, visual and performing arts and heritage. Following the positive trends of development of creative industries on the global and European level, this paper analyzes creative industries in general and specific characteristics of creative entrepreneurship. Special focus in this paper is put on the influence of the information communication technology on the development of new creative business models and protection of the intellectual property rights. One part of the paper is oriented on the analysis of the status of creative industries and creative entrepreneurship in Croatia. The main objective of the paper is by using the statistical analysis of creative industries in Croatia and information gained during the interviews with entrepreneurs, to make conclusions about potentials and development of creative industries in Croatia. Creative industries in Croatia are at the beginning of their development and growth strategy still does not exist at the national level. Statistical analysis pointed out that in 2015 creative enterprises made 9% of all enterprises in Croatia, employed 5,5% of employed people and their share in GDP was 4,01%. Croatian creative entrepreneurs are building competitive advantage using their creative resources and creating specific business models. The main obstacles they meet are lack of business experience and impossibility of focusing on the creative activities only. In their business, they use digital technologies and are focused on export. The conclusion is that creative industries in Croatia have development potential, but it is necessary to take adequate measures to use this potential in a right way.

Keywords: creative entrepreneurship, knowledge economy, business models, intellectual property

Procedia PDF Downloads 202

Authors: Flora Xu, Marta Fernandez Olmos

Abstract:

This article is mainly about critical assessment and comprehensive understanding of the business strategy in the post COVID-19 scenario. This study aims to elucidate how companies are responding to the unique challenges posed by the pandemic and how these measures are shaping the future of the business environment. The pandemic has exposed the fragility and flexibility of the global supply chain, and procurement and production strategies should be reconsidered. It should increase the diversity of suppliers and the flexibility of the supply chain, and some companies are considering transferring their survival to the local market. This can increase local employment and reduce international transportation disruptions and customs issues. By shortening the distance between production and market, companies can respond more quickly to changes in demand and unforeseen events. The demand for remote work and online solutions will increase the adoption of digital technology and accelerate the digital transformation of many organizations. Marketing and communication strategies need to adapt to a constantly changing environment. The business resilience strategy was emphasized as a key component of the response to the COVID-19. The company is seeking to strengthen its risk management capabilities and develop a business continuity plan to cope with future unexpected disruptions. The pandemic has reconfigured human resource practices and changed the way companies manage their employees. Remote work has become the norm, and companies focus on managing workers' health and well-being, as well as flexible work policies to ensure operations and support for employees during crises. This change in human resources practice has a lasting impact on how companies apply talent and labor management in the post COVID-19 world. The pandemic has prompted a significant review of business strategies as companies adapt to constantly changing environments and seek to ensure their sustainability and profitability in times of crisis. This strategic reassessment has led to product diversification, exploring international markets and adapting to the changing market. Companies have responded to the unprecedented challenges brought by the COVID-19. The COVID-19 has promoted innovation effort in key areas and focused on the responsibility in today's business strategy for sustainability and the importance of corporate society. The important challenge of formulating and implementing business strategies in uncertain times. These challenges include making quick and agile decisions in turbulent environments, risk management, and adaptability to constantly changing market conditions. The COVID-19 highlights the importance of strategic planning and informed decision-making - making in a business environment characterized by uncertainty and complexity. In short, the pandemic has reconfigured the way companies handle business strategies and emphasized the necessity of preparing for future challenges in a business world marked by uncertainty and complexity.

Keywords: business strategy, crisis, digitalization, uncertainty

Procedia PDF Downloads 9

Authors: Godfrey Nsereko, Daniel Kadobera, Denis Okethwangu, Joyce Nguna, Alex Riolexus Ario

Abstract:

Background: Malaria is a leading cause of morbidity and mortality in Uganda. In April 2018, malaria cases surged in Nwoya District, northern Uganda, exceeding the action thresholds. We investigated to assess the outbreak’s magnitude, identify transmission risk factors, and recommend evidence-based control measures. Methods: We defined a malaria case as onset of fever in a resident of Nwoya District with a positive Rapid Diagnostic Test or microscopy for malaria P. falciparum from 1 February to 22 May 2018. We reviewed medical records in all health facilities of affected sub-counties to find cases. In a case-control study, we compared exposure risk factors between 107 case-persons and 107 asymptomatic controls matched by age and village. We conducted entomological assessment on vector-density and behavior. Results: We identified 3,879 case-persons (attack rate [AR]=6.5%) and 2 deaths (case-fatality rate=5.2/10,000). Females (AR=8.1%) were more affected than males (AR=4.7%). Of all age groups, the 5-18 year age group (AR=8.4%) was most affected. Heavy rain started on 4 March; a propagated outbreak began during the week of 2 April. In the case-control study, 55% (59/107) of case-patients and 18% (19/107) of controls had stagnant water around households for several days following rainfall (ORM-H=5.6, 95%CI=3.0-11); 25% (27/107) of case-patients and 51% (55/107) of controls wore long-sleeve cloths during evening hours (ORM-H=0.30, 95%CI=0.20-0.60); 29% (31/107) of case-patients and 15% (16/107) of controls did not sleep under a long-lasting insecticide-treated net (LLIN) (ORM-H=2.3, 95%CI=1.1-4.9); 37% (40/107) of case-patients and 52% (56/107) of controls had ≥1 LLIN per 2 household members (ORM-H=0.54, 95%CI=0.30-0.97). Entomological assessment indicated active breeding sites; Anopheles gambiae sensu lato species were the predominant vector. Conclusion: Increased vector breeding sites after heavy rainfall, together with inadequate malaria preventive measures caused this outbreak. We recommended increasing coverage for LLINs and larviciding breeding sites.

Keywords: malaria outbreak, Plasmodium falciparum, global health security, Uganda

Procedia PDF Downloads 223

Authors: Gopinath Rathod, Vinod Puranik

Abstract:

Growing business recognizes environmental consciousness as an important concept for survival in the competitive scenario. Environmental consciousness is a critical intersection between manufacturing and product design processes with environmental issues and concerns. This article presents a project in which quality function deployment (QFD) for environment (ECQFD) has been applied to rotary switches for enabling environmentally conscious design in the early stage of product development. ECQFD is capable of handling simultaneously the environmental and traditional product quality requirements. ECQFD consists of four phases. ECQFD phases I and II are concerned with the identification of parts that are important in enhancing environmental consciousness. ECQFD phases III and IV are concerned with the evaluation of effect of design improvement on environmental quality requirements. The case study has been practically validated which indicated the receptivity of applying ECQFD in industrial scenario.

Keywords: quality function deployment, environment, product design, design for environment, rotary switches

Procedia PDF Downloads 424

Authors: Ajish K. Abraham

Abstract:

Hearing aid is the most fundamental technology employed towards rehabilitation of persons with sensory neural hearing impairment. Hearing in noise is still a matter of major concern for many hearing aid users and thus continues to be a challenging issue for the hearing aid designers. Several techniques are being currently used to enhance the speech at the hearing aid output. Most of these techniques, when implemented, result in reduction of intelligibility of the speech signal. Thus the dissatisfaction of the hearing aid user towards comprehending the desired speech amidst noise is prevailing. Multichannel Wiener Filter is widely implemented in binaural hearing aid technology for noise reduction. In this study, Wiener filter based noise reduction approach is experimented for a single microphone based hearing aid set up. This method checks the status of the input speech signal in each frequency band and then selects the relevant noise reduction procedure. Results showed that the Wiener filter based algorithm is capable of enhancing speech even when the input acoustic signal has a very low Signal to Noise Ratio (SNR). Performance of the algorithm was compared with other similar algorithms on the basis of improvement in intelligibility and SNR of the output, at different SNR levels of the input speech. Wiener filter based algorithm provided significant improvement in SNR and intelligibility compared to other techniques.

Keywords: hearing aid output speech, noise reduction, SNR improvement, Wiener filter, speech enhancement

Procedia PDF Downloads 244

Authors: Esmail Sadipour

Abstract:

The use of social networks is increasing day by day in all societies. The purpose of this research was to know the relationship between the use of social networks (Instagram, WhatsApp, and Telegram) with executive functions and academic performance in first-year female high school students. This research was applied in terms of purpose, quantitative in terms of data type, and correlational in terms of technique. The population of this research consisted of all female high school students in the first year of district 2 of Tehran. Using Green's formula, the sample size of 150 people was determined and selected by cluster random method. In this way, from all 17 high schools in district 2 of Tehran, 5 high schools were selected by a simple random method and then one class was selected from each high school, and a total of 155 students were selected. To measure the use of social networks, a researcher-made questionnaire was used, the Barclay test (2012) was used for executive functions, and last semester's GPA was used for academic performance. Pearson's correlation coefficient and multivariate regression were used to analyze the data. The results showed that there is a negative relationship between the amount of use of social networks and self-control, self-motivation and time self-management. In other words, the more the use of social networks, the fewer executive functions of students, self-control, self-motivation, and self-management of their time. Also, with the increase in the use of social networks, the academic performance of students has decreased.

Keywords: social networks, executive function, academic performance, working memory

Procedia PDF Downloads 89