Search results for: circular economy business model (CEBM)

Authors: Teguh Sugiarto, Ahmad Subagyo, Ludiro Madu, Amir Mohammadian Amiri

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Recently, the significant fluctuations accosiated with Indonesian economy justifies the need for paying more attention to this issue. In this regard, the main objective of this study is to investigate the relationship between two issues related to the macro Indonesia economy called consumption and GDP during the period of 1967 to 2014. This research method exploits short term and long term relationships using Granger and subsequently, models them by the causality method . However, using analysis of Granger with Johansen shows that there is not only a long term, but also a short-long relationship between GDP and consumption using lags the interval 5.

Keywords: cointegration, Granger causality, GDP, consumption

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Authors: Aneri Mehta, Krunal Mehta

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The unpredictable and vacillating relationship between India and Pakistan since days of Independence struggle is known world over. And this instability has never lost its magnitude to decrease the tensions between the two countries. Since India aspires to run for the race of future superpower and Pakistan struggles to remove the tag of a highly fickle and under developed economy; ruined largely not by the outsiders, but its own people and systems; it becomes really important to gauge what steps would these neighbors take in years to come. The progress and stability of both countries heavily relies on the favorable equations between the two nations. Therefore the paper tries to trace some roots of their faltering relationship and attempts to predict their future in a multidimensional perspective.

Keywords: economy, faltering relationship, multidimensional perspective, international relations

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Authors: S. Chandrasekaran, P. A. Kiran

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Increasing demand for large-sized Floating, Storage and Regasification Units (FSRUs) for oil and gas industries led to the development of novel geometric form of Buoyant Leg Storage and Regasification Platform (BLSRP). BLSRP consists of a circular deck supported by six buoyant legs placed symmetrically with respect to wave direction. Circular deck is connected to buoyant legs using hinged joints, which restrain transfer of rotational response from the legs to deck and vice-versa. Buoyant legs are connected to seabed using taut moored system with high initial pretension, enabling rigid body motion in vertical plane. Encountered environmental loads induce dynamic tether tension variations, which in turn affect stability of the platform. The present study investigates Mathieu stability of BLSRP under the postulated tether pullout cases by inducing additional tension in the tethers. From the numerical studies carried out, it is seen that postulated tether pullout on any one of the buoyant legs does not result in Mathieu type instability even under excessive tether tension. This is due to the presence of hinged joints, which are capable of dissipating the unbalanced loads to other legs. However, under tether pullout of consecutive buoyant legs, Mathieu-type instability is observed.

Keywords: offshore platforms, stability, postulated failure, dynamic tether tension

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Authors: Ariyaratna Athugala

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Mass media play a significant role in democratic societies. The Political Economy of the Mass Media postulates that elite media interlock with other institutional sectors in ownership, and editorial management effectively circumscribing their ability to remain analytically detached from other dominant institutional sectors. The production of meaning in news discourse is not valued neutral, but part of a larger process of presenting a hegemonic understanding of the world to audiences as the “production of consent.” The horse race model argues that “the raw material of news” pressures six bands that ultimately shape the news audiences receive. The six bands are as follows: Crown piece (raw material), brow band (professionalism), throat latch (gatekeeper), a bit (construction), nose band (perception), and reins (ownership). dThe horse race model suggests that media ultimately serve to “manufacture consent” for a range of self-serving elite opinion options. These bands determine what events are deemed newsworthy, how they are covered, where they are placed within the media and how much coverage they receive. Highly descriptive in nature, the horse race model of communication is concerned with the question of whether media can be seen to play a hegemonic role in the society oriented towards legitimization, hegemonic pressures and ideological construction.

Keywords: hegemonic pressures, horse race, ideological construction, six bands

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Authors: Pia Ulvenblad, Henrik Barth, Jennie Cederholm BjöRklund, Maya Hoveskog, Per-Ola Ulvenblad

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The importance of business model innovation (BMI) is widely recognized. This is also valid for firms in the agri-food industry, closely connected to global challenges. Worldwide food production will have to increase 70% by 2050 and the United Nations’ sustainable development goals prioritize research and innovation on food security and sustainable agriculture. The firms of the agri-food industry have opportunities to increase their competitive advantage through BMI. However, the process of BMI is complex and the implementation of new business models is associated with high degree of risk and failure. Thus, managers from all industries and scholars need to better understand how to address this complexity. Therefore, the research presented in this paper (i) explores different categories of barriers in research literature on business models in the agri-food industry, and (ii) illustrates categories of barriers with empirical cases. This study is addressing the rather limited understanding on barriers for BMI in the agri-food industry, through a systematic literature review (SLR) of 570 peer-reviewed journal articles that contained a combination of ‘BM’ or ‘BMI’ with agriculture-related and food-related terms (e.g. ‘agri-food sector’) published in the period 1990-2014. The study classifies the barriers in several categories and illustrates the identified barriers with ten empirical cases. Findings from the literature review show that barriers are mainly identified as outcomes. It can be assumed that a perceived barrier to growth can often be initially exaggerated or underestimated before being challenged by appropriate measures or courses of action. What may be considered by the public mind to be a barrier could in reality be very different from an actual barrier that needs to be challenged. One way of addressing barriers to growth is to define barriers according to their origin (internal/external) and nature (tangible/intangible). The framework encompasses barriers related to the firm (internal addressing in-house conditions) or to the industrial or national levels (external addressing environmental conditions). Tangible barriers can include asset shortages in the area of equipment or facilities, while human resources deficiencies or negative willingness towards growth are examples of intangible barriers. Our findings are consistent with previous research on barriers for BMI that has identified human factors barriers (individuals’ attitudes, histories, etc.); contextual barriers related to company and industry settings; and more abstract barriers (government regulations, value chain position, and weather). However, human factor barriers – and opportunities - related to family-owned businesses with idealistic values and attitudes and owning the real estate where the business is situated, are more frequent in the agri-food industry than other industries. This paper contributes by generating a classification of the barriers for BMI as well as illustrating them with empirical cases. We argue that internal barriers such as human factors barriers; values and attitudes are crucial to overcome in order to develop BMI. However, they can be as hard to overcome as for example institutional barriers such as governments’ regulations. Implications for research and practice are to focus on cognitive barriers and to develop the BMI capability of the owners and managers of agri-industry firms.

Keywords: agri-food, barriers, business model, innovation

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Authors: Ebtissem Sassi, Abdellatif Benabdelhafid, Sami Hammami

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Congestion, pollution and space misuse are the major risks in the hinterland. Management of these risks is a major issue for all the actors intervening in territory management. A good mastery of these risks is based on the consideration of environmental and physical constraints since the implementation of a policy integrates simultaneously an efficient use, territorial resources, and financial resources which become increasingly rare. Yet, this balance can be difficult to establish simultaneously by all the actors. Indeed, every actor has often the tendency to favor these objectives in detriment to others. In this framework, we have fixed the objective of designing and achieving a model which will centralize multidisciplinary data and serve the analysis tool as well as a decision support tool. In this article, we will elaborate some methodological axes allowing the good management of the territory system through (i) determination of the structural factors of the decision support system, (ii) integration of methods tools favoring the territorial decisional process. Logistics territory geographic information system is a model dealing with this issue. The objective of this model is to facilitate the exchanges between the actors around a common question which was the research subject of human sciences researchers (geography, economy), nature sciences (ecology) as well as finding an optimal solution for simultaneous responses to all these objectives.

Keywords: complexity, territory, logistics, territory planning, conceptual model, GIS, MCA

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Authors: K. Volkonitskaya, S. Lyapina

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According to the National Monitoring Centre of innovation infrastructure, scientific and technical activities and regional innovation systems by December 2014. 166 technology parks were established in Russia. Comparative analysis of technological parks performance in Russia, the USA, Israel and the European Union countries revealed significant reduction of key performance indicators in Russian innovation infrastructure institutes. The largest deviations were determined in the following indicators: new products and services launched, number of companies and jobs, amount of venture capital invested. Lower performance indicators of Russian technology parks can be partly explained by slack demand for national high-tech products and services, lack of qualified specialists in the sphere of innovation management and insufficient cooperation between different innovation infrastructure institutes. In spite of all constraints in innovation segment of Russian economy in 2010-2012 private investors for the first time proceeded to finance building of technological parks. The general purpose of the research is to answer two questions: why despite the significant investment risks private investors continue to implement such comprehensive infrastructure projects in Russia and is business model of private technological park more efficient than strategies of state innovation infrastructure institutes? The goal of the research was achieved by analyzing business models of private technological parks in Moscow, Kaliningrad, Astrakhan and Kazan. The research was conducted in two stages: the on-line survey of key performance indicators of private and state Russian technological parks and in-depth interviews with top managers and investors, who have already build private technological parks in by 2014 or are going to complete investment stage in 2014-2016. The results anticipated are intended to identify the reasons of efficient and inefficient technological parks performance. Furthermore, recommendations for improving the efficiency of state technological and industrial parks were formulated. Particularly, the recommendations affect the following issues: networking with other infrastructural institutes, services and infrastructure provided, mechanisms of public-private partnership and investment attraction. In general intensive study of private technological parks performance and development of effective mechanisms of state support can have a positive impact on the growth rates of the number of Russian technological, industrial and science parks.

Keywords: innovation development, innovation infrastructure, private technology park, public-private partnership

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Authors: Fatemeh Sadat Sharifi

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In this research, a barotropic model was employed to consider the tidal studies in the Persian Gulf and Oman Sea, where the only sufficient force was the tidal force. To do that, a finite-difference, free-surface model called Regional Ocean Modeling System (ROMS), was employed on the data over the Persian Gulf and Oman Sea. To analyze flow patterns of the region, the results of limited size model of The Finite Volume Community Ocean Model (FVCOM) were appropriated. The two points were determined since both are one of the most critical water body in case of the economy, biology, fishery, Shipping, navigation, and petroleum extraction. The OSU Tidal Prediction Software (OTPS) tide and observation data validated the modeled result. Next, tidal elevation and speed, and tidal analysis were interpreted. Preliminary results determine a significant accuracy in the tidal height compared with observation and OTPS data, declaring that tidal currents are highest in Hormuz Strait and the narrow and shallow region between Iranian coasts and Islands. Furthermore, tidal analysis clarifies that the M_2 component has the most significant value. Finally, the Persian Gulf tidal currents are divided into two branches: the first branch converts from south to Qatar and via United Arab Emirate rotates to Hormuz Strait. The secondary branch, in north and west, extends up to the highest point in the Persian Gulf and in the head of Gulf turns counterclockwise.

Keywords: numerical model, barotropic tide, tidal currents, OSU tidal prediction software, OTPS

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Authors: Michael Picard

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This proposal offers to shed light on the changing legal geography of the global waste economy. Global waste recycling has become a multi-billion-dollar industry. NASDAQ predicts the emergence of a worldwide 1,296G$ waste management market between 2017 and 2022. Underlining this evolution, a new generation of preferential waste-trade agreements has emerged in the Pacific. In the last decade, Japan has concluded a series of bilateral treaties with Asian countries, and most recently with China. An agreement between Tokyo and Beijing was formalized on 7 May 2008, which forged an economic partnership on waste transfer and mining. The agreement set up International Recycling Zones, where certified recycling plants in China process industrial waste imported from Japan. Under the joint venture, Chinese companies salvage the embedded value from Japanese industrial discards, reprocess them and send them back to Japanese manufacturers, such as Mitsubishi and Panasonic. This circular economy is designed to convert surplus garbage into surplus value. Ever since the opening of Sino-Japanese eco-parks, millions of tons of plastic and e-waste have been exported from Japan to China every year. Yet, quite unexpectedly, China has recently closed its waste market to imports, jeopardizing Japan’s billion-dollar exports to China. China notified the WTO that, by the end of 2017, it would no longer accept imports of plastics and certain metals. Given China’s share of Japanese waste exports, a complete closure of China’s market would require Japan to find new uses for its recyclable industrial trash generated domestically every year. It remains to be seen how China will effectively implement its ban on waste imports, considering the economic interests at stake. At this stage, what remains to be clarified is whether China's ban on waste imports will negatively affect the recycling trade between Japan and China. What is clear, though, is the rapid transformation in the legal geography of waste mining in East-Asia. For decades, East-Asian waste trade had been tied up in an ‘ecologically unequal exchange’ between the Japanese core and the Chinese periphery. This global unequal waste distribution could be measured by the Environmental Stringency Index, which revealed that waste regulation was 39% weaker in the Global South than in Japan. This explains why Japan could legally export its hazardous plastic and electronic discards to China. The asymmetric flow of hazardous waste between Japan and China carried the colonial heritage of international law. The legal geography of waste distribution was closely associated to the imperial construction of an ecological trade imbalance between the Japanese source and the Chinese sink. Thus, China’s recent decision to ban hazardous waste imports is a sign of a broader ecological shift. As a global economic superpower, China announced to the world it would no longer be the planet’s junkyard. The policy change will have profound consequences on the global circulation of waste, re-routing global waste towards countries south of China, such as Vietnam and Malaysia. By the time the Berlin Conference takes place in May 2018, the presentation will be able to assess more accurately the effect of the Chinese ban on the transboundary movement of waste in Asia.

Keywords: Asia, ecological unequal exchange, global waste trade, legal geography

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Authors: Mary I. Marire

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This seminar examined globalization and civil society organization of Nigeria: The business community. The study examined the effect of globalization on the growth of civil society organizations in Nigeria. It equally evaluated the effect of globalization on the development of Nigerian business environment. The population consists of 562 members of Ohanaeze Ndigbo civil society organisation in Enugu State. The study used the survey approach. The primary sources used were used to administer 290 copies of questionnaire to the sampled members of the group, 282 were returned and accurately filled. The validity of the instrument was tested using content analysis and the result was good. The reliability was tested using the Pearson correlation coefficient (r). It gave a reliability co-efficient of 0.79 which was also good. The hypotheses were analyzed using f-statistics (ANOVA) tool. The findings indicated that that globalization has significant effect on the growth of civil society organizations in Nigeria and development of Nigerian business environment. Based on the findings, the study recommends that efforts should be directed at service delivery and the reduction of corruption to bring about a sustainable socio economic development in Nigeria. This will enable civil society groups to stand the test of time by organizing itself in a manner that will not make them apron or dependent on the government. There is the dire need for government at all levels to show and indeed demonstrate the political will and zeal to cope and meet with the current global realities in its totality.

Keywords: globalization, business environment, civil society, business growth

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Authors: Kesi Widjajanti

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To develop the growth of small and medium enterprises (SMEs), it is important to unlock potential resources that can improve their performance. Business Partnerships (BP) are currently an interesting topic of strategy to use to expand markets and maximize financial and marketing performance. However, many business partnerships have not quite a role among small and medium companies in the creative industry in the Batik Craft sector in Indonesia. This study is rooted in the Resource Advantage Theory of Competition ( RAToC), which emphasizes that the advantage of company resources can be sourced from organizational and relational resources. With the basis of this theory, SMEs can optimize the allocation of relational resources and organizational goals, improve operational efficiency, and gain a strategic advantage in the market. Companies that are able to actualize organizational and relational resources better than other market players can be used for the process of increasing their superior performance. This study explores key elements from the RAToC perspective and shows how Business Partnerships have the potential to drive SMEs' growth. By aligning visions, and organizational resources, sharing knowledge and leveraging complementary relational resources, SMEs can increase their competitiveness, enter new markets, and achieve superior performance. The theoretical contribution of RAToC in small companies is due to the role of Pro-Grow Business Partnership strength as an important antecedent for improving SMEs' performance. The benefits (scenarios) of a Business Partnership to grow together are directed at optimizing resources that can create additional value for customers so that they can outperform competitors. Furthermore, managerial implications for SMEs who wish to unlock their resource potential can encourage the role of Pro-Grow Business Partnerships, which have specific characteristics, can absorb experience/knowledge capacity and utilize this knowledge for the development of "together" business ventures.

Keywords: pro grow business partnership, performance, SMEs, resources advantage theory of competition, industry kreatif batik handycraft indonesia

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Authors: Iris Xiaohong Quan

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The global digital health market reached 175 billion U.S. dollars in 2019, and is expected to grow at about 25% CAGR to over 650 billion USD by 2025. Different terms such as digital health, e-health, mHealth, telehealth have been used in the field, which can sometimes cause confusion. The term digital health was originally introduced to refer specifically to the use of interactive media, tools, platforms, applications, and solutions that are connected to the Internet to address health concerns of providers as well as consumers. While mHealth emphasizes the use of mobile phones in healthcare, telehealth means using technology to remotely deliver clinical health services to patients. According to FDA, “the broad scope of digital health includes categories such as mobile health (mHealth), health information technology (IT), wearable devices, telehealth and telemedicine, and personalized medicine.” Some researchers believe that digital health is nothing else but the cultural transformation healthcare has been going through in the 21st century because of digital health technologies that provide data to both patients and medical professionals. As digital health is burgeoning, but research in the area is still inadequate, our paper aims to clear the definition confusion and provide an overall picture of digital health companies. We further investigate how business models are designed and differentiated in the emerging digital health sector. Both quantitative and qualitative methods are adopted in the research. For the quantitative analysis, our research data came from two databases Crunchbase and CBInsights, which are well-recognized information sources for researchers, entrepreneurs, managers, and investors. We searched a few keywords in the Crunchbase database based on companies’ self-description: digital health, e-health, and telehealth. A search of “digital health” returned 941 unique results, “e-health” returned 167 companies, while “telehealth” 427. We also searched the CBInsights database for similar information. After merging and removing duplicate ones and cleaning up the database, we came up with a list of 1464 companies as digital health companies. A qualitative method will be used to complement the quantitative analysis. We will do an in-depth case analysis of three successful unicorn digital health companies to understand how business models evolve and discuss the challenges faced in this sector. Our research returned some interesting findings. For instance, we found that 86% of the digital health startups were founded in the recent decade since 2010. 75% of the digital health companies have less than 50 employees, and almost 50% with less than 10 employees. This shows that digital health companies are relatively young and small in scale. On the business model analysis, while traditional healthcare businesses emphasize the so-called “3P”—patient, physicians, and payer, digital health companies extend to “5p” by adding patents, which is the result of technology requirements (such as the development of artificial intelligence models), and platform, which is an effective value creation approach to bring the stakeholders together. Our case analysis will detail the 5p framework and contribute to the extant knowledge on business models in the healthcare industry.

Keywords: digital health, business models, entrepreneurship opportunities, healthcare

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Authors: Cora Fernandez Dacosta, John A. Posada, Andrea Ramirez

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The biodegradable family of polymers polyhydroxyalkanoates are interesting substitutes for convectional fossil-based plastics. However, the manufacturing and environmental impacts associated with their production via intracellular bacterial fermentation are strongly dependent on the raw material used and on energy consumption during the extraction process, limiting their potential for commercialization. Industrial wastewater is studied in this paper as a promising alternative feedstock for waste valorization. Based on results from laboratory and pilot-scale experiments, a conceptual process design, techno-economic analysis and life cycle assessment are developed for the large-scale production of the most common type of polyhydroxyalkanoate, polyhydroxbutyrate. Intracellular polyhydroxybutyrate is obtained via fermentation of microbial community present in industrial wastewater and the downstream processing is based on chemical digestion with surfactant and hypochlorite. The economic potential and environmental performance results help identifying bottlenecks and best opportunities to scale-up the process prior to industrial implementation. The outcome of this research indicates that the fermentation of wastewater towards PHB presents advantages compared to traditional PHAs production from sugars because the null environmental burdens and financial costs of the raw material in the bioplastic production process. Nevertheless, process optimization is still required to compete with the petrochemicals counterparts.

Keywords: circular economy, life cycle assessment, polyhydroxyalkanoates, waste valorization

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Authors: Winai Rungrittidetch

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This paper investigated the operational system, procedures, outcomes, and obstacles during the application of the Corporate Social Responsibility by the small enterprises and other involved groups in the anchor production business of the core firm, Jatura Charoen Chai Company Limited. The paper also aimed to discover ways to improve the stakeholders who participated in the CSR training and advisory programme. The paper utilized the qualitative methodology which included documentary review and semi- structured interview. The interviews were made with 8 respondents as the representative of different groups of the company’s stakeholder. The findings drew out the lessons learned from the participation of the selected small manufacturing enterprises in the CSR training and advisory programme. Some suggestions were also made, addressing the significance of the Philosophy of Sufficiency Economy.

Keywords: corporate, social, responsibility, enterprises

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Authors: Fedil Jemal Ahmed

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This conference abstract paper presents a study that aimed to explore the impact of talent management and business skills on performance improvement in mini markets located in Johannesburg and Cape Town, South Africa. Mini markets are small retail stores that play a crucial role in providing essential goods and services to communities. However, due to their small size, they often face significant challenges in terms of resources and management. The study conducted interviews with mini market owners and managers in Johannesburg and Cape Town to understand their approach to talent management, business skills, and their impact on business performance. The results showed that effective talent management practices, including recruitment, training, and retention, along with strong business skills, had a significant positive impact on business performance in mini markets. Furthermore, the study found that the use of technology, such as point of sale systems and inventory management software, can also contribute to business performance improvement in mini markets. The results suggest that mini market owners and managers should prioritize talent management, business skills, and invest in technology to improve their business performance. Comparing the improvements made by mini markets in Johannesburg and Cape Town to those made by others, the study found that the adoption of effective talent management practices and strong business skills were key factors in driving performance improvement. Mini market owners and managers who invested in these areas were better equipped to manage their resources, enhance their customer service, and increase their profitability. When comparing the personal experiences of the fedil jemal who improved their business performance from a small market to a large one, they found that effective talent management practices and strong business skills were crucial in achieving success. Through the adoption of effective talent management practices, the fedil was able to attract and retain top talent, ensuring that the business was managed effectively. Furthermore, the fedil invested in improving their business skills, such as financial management, marketing, and customer service, which helped to increase their revenue and profitability. In terms of technology adoption, the author found that the use of point-of-sale systems and inventory management software were essential in managing their inventory and improving their customer service. By investing in technology, the fedil was able to streamline their operations and enhance their overall business performance. In conclusion, this study provides valuable insights into the importance of talent management, business skills, and technology adoption in improving business performance in mini markets. It highlights the need for mini market owners and managers to prioritize these areas and invest in them to enhance their business performance. The findings of this study have practical implications for mini market owners and managers who are looking to improve their business performance and compete in a highly competitive market. By adopting effective talent management practices, developing strong business skills, and investing in technology, mini market owners and managers can improve their operations and increase their profitability.

Keywords: talent management, business skills, technology adoption, mini markets

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Authors: Milena Serzante, Viktoriia Stankevich, Yousre Badir

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Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. The aim of the study is to analyze how the sustainable performance of the company impacts the economy and the business's economic performance. To achieve this goal, such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbor and COPRAS technique were implemented. The results revealed that there is no significant correlation between different indicators of sustainable development of the company and both GDP and Return on Equity. It indicates that the methodology of evaluating sustainability causes the difference in ranking companies based on sustainable performance.

Keywords: economic impact, sustainability evaluation, sustainable companies, economic indicators, sustainability, GDP, return on equity

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Authors: Muhammad Naeem, Abdulrahman A. Al-Rabiah, Wasif Mughees

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Technical mixture of C4 containing 1-butene and n-butane are very close to each other with regard to their boiling points i.e. -6.3°C for 1-butene and -1°C for n-butane. Extractive distillation process is used for the separation of 1-butene from the existing mixture of C4. The solvent is the essential of extractive distillation, and an appropriate solvent plays an important role in the process economy of extractive distillation. Aspen Plus has been applied for the separation of these hydrocarbons as a simulator. Moreover, NRTL activity coefficient model was used in the simulation. This model indicated that the material balances in this separation process were accurate for several solvent flow rates. Mixture of acetonitrile and water used as a solvent and 99% pure 1-butene was separated. This simulation proposed the ratio of the feed to solvent as 1: 7.9 and 15 plates for the solvent recovery column. Previously feed to solvent ratio was more than this and the number of proposed plates were 30, which shows that the separation process can be economized.

Keywords: extractive distillation, 1-butene, aspen plus, ACN solvent

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Authors: Gurjit Singh, Gurmail Singh

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The shape of microchannels in microchannel heat sinks can have a significant impact on both heat transfer and fluid flow properties. Heat Transfer, pressure drop, and Some effects of microchannel shape on these properties. The shape of microchannels can affect the heat transfer performance of microchannel heat sinks. Channels with rectangular or square cross-sections typically have higher heat transfer coefficients compared to circular channels. This is because rectangular or square channels have a larger wetted perimeter per unit cross-sectional area, which enhances the heat transfer from the fluid to the channel walls. The shape of microchannels can also affect the pressure drop across the heat sink. Channels with a rectangular cross-section usually have higher pressure drop than circular channels. This is because the corners of rectangular channels create additional flow resistance, which leads to a higher pressure drop. Overall, the shape of microchannels in microchannel heat sinks can have a significant impact on the heat transfer and fluid flow properties of the heat sink. The optimal shape of microchannels depends on the specific application and the desired balance between heat transfer performance and pressure drop.

Keywords: heat transfer, microchannel heat sink, pressure drop, chape of microchannel

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Authors: Salman Abdulrasaq

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Small and Medium Enterprises (SMEs) has been considered as indices for economic development in a country economy. The development of entrepreneurship skills is therefore necessary. This study, seeks to examine the impact of Entrepreneurship on the Growth of Small Businesses Kwara State, Nigeria. The data used were primarily obtained from the questionnaire administered to the randomly selected areas in the state. Regression statistical tool was employed with aid of SPSS to test the validity of the hypothesis formulated in the study. The study therefore concludes that; the qualities of entrepreneur have impact the growth of Small Businesses s in the selected areas of the state. In view of this, the study recommends that; entrepreneurship development would serve as a tool for the growth of small business enterprises.

Keywords: entrepreneurship, growth, development, Nigeria

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Authors: Raúl González Muñoz, Essam Shehab, Martin Weinitzke, Chris Fowler, Paul Baguley

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Software applications have become crucial to the aerospace industry, providing a wide range of functionalities and capabilities used during the design, manufacturing and support of aircraft. However, as this criticality increases, so too does the risk for business operations when facing a software failure. Hence, there is a need for new methodologies to be developed to support aerospace companies in effectively managing their software portfolios, avoiding the hazards of business disruption and additional costs. This paper aims to provide a definition of operational software maturity, and how this can be used to assess software operational behaviour, as well as a view on the different aspects that drive software maturity within the aerospace industry. The key research question addressed is, how can operational software maturity monitoring assist the aerospace industry in effectively managing large software portfolios? This question has been addressed by conducting an in depth review of current literature, by working closely with aerospace professionals and by running an industry case study within a major aircraft manufacturer. The results are a software maturity model composed of a set of drivers and a prototype tool used for the testing and validation of the research findings. By utilising these methodologies to assess the operational maturity of software applications in aerospace, benefits in maintenance activities and operations disruption avoidance have been observed, supporting business cases for system improvement.

Keywords: aerospace, software lifecycle, software maintenance, software maturity

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Authors: Natnael Debalklie Teshome

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The purpose of the study was to empirically investigate the impacts of export performance and its volatility on economic growth in the Ethiopian economy. To do so, time-series data of the sample period from 1974/75 – 2017/18 were collected from databases and annual reports of IMF, WB, NBE, MoFED, UNCTD, and EEA. The extended Cobb-Douglas production function of the neoclassical growth model framed under the endogenous growth theory was used to consider both the performance and instability aspects of export. First, the unit root test was conducted using ADF and PP tests, and data were found in stationery with a mix of I(0) and I(1). Then, the bound test and Wald test were employed, and results showed that there exists long-run co-integration among study variables. All the diagnostic test results also reveal that the model fulfills the criteria of the best-fitted model. Therefore, the ARDL model and VECM were applied to estimate the long-run and short-run parameters, while the Granger causality test was used to test the causality between study variables. The empirical findings of the study reveal that only export and coefficient of variation had significant positive and negative impacts on RGDP in the long run, respectively, while other variables were found to have an insignificant impact on the economic growth of Ethiopia. In the short run, except for gross capital formation and coefficients of variation, which have a highly significant positive impact, all other variables have a strongly significant negative impact on RGDP. This shows exports had a strong, significant impact in both the short-run and long-run periods. However, its positive and statistically significant impact is observed only in the long run. Similarly, there was a highly significant export fluctuation in both periods, while significant commodity concentration (CCI) was observed only in the short run. Moreover, the Granger causality test reveals that unidirectional causality running from export performance to RGDP exists in the long run and from both export and RGDP to CCI in the short run. Therefore, the export-led growth strategy should be sustained and strengthened. In addition, boosting the industrial sector is vital to bring structural transformation. Hence, the government has to give different incentive schemes and supportive measures to exporters to extract the spillover effects of exports. Greater emphasis on price-oriented diversification and specialization on major primary products that the country has a comparative advantage should also be given to reduce value-based instability in the export earnings of the country. The government should also strive to increase capital formation and human capital development via enhancing investments in technology and quality of education to accelerate the economic growth of the country.

Keywords: export, economic growth, export diversification, instability, co-integration, granger causality, Ethiopian economy

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Authors: Merabi Khokhobaia

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The aim of the investigation is definition of economic importance of tourism, evaluation of tourism’s influence on the economy of Georgia. Tourism in the world, as well, as in Georgia became one of the most significant activities. The outlook for the international arrivals in Georgia is highly optimistic. Increase of international travelers is an additional opportunity for Georgia in case of creating more jobs and generate incomes. The country has unique cultural heritage and traditions, there are many cultural monuments in Georgia which are significant precondition for the development of tourism. Despite the factors mentioned above, there are challenges and problems, development of infrastructure, quality of services, development of tourist products and etc. In the work has been used induction, deduction, analysis, synthesis, quantitative-based research technique.

Keywords: culture, development, economy, industry, tourism

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Authors: Sakkarin Chingulpitak, Somchai Wongwises

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Over the past several decades, the development of electronic devices has led to higher performance. Therefore, an electronic cooling system is important for the electronic device. A heat sink which is a part of the electronic cooling system is continuously studied in the research field to enhance the heat transfer. To author’s best knowledge, there have been only a few articles which reported the thermal performance of plate-fin heat sink with perforation. This research aims to study on the flow and heat transfer characteristics of the solid-fin heat sink (SFHS) and laterally perforated plate-fin heat sink (LAP-PFHS). The SFHS and LAP-PFHSs are investigated on the same fin dimensions. The LAP-PFHSs are performed with a 27 perforation number and two different diameters of circular perforation (3 mm and 5 mm). The experimental study is conducted under various Reynolds numbers from 900 to 2,000 and the heat input of 50W. The experimental results show that the LAP-PFHS with perforation diameter of 5 mm gives the minimum thermal resistance about 25% lower than SFHS. The thermal performance factor which takes into account the ratio of the Nusselt number and ratio of friction factor is used to find the suitable design parameters. The experimental results show that the LAP-PFHS with the perforation diameter of 3 mm provides the thermal performance of 15% greater than SFHS. In addition, the simulation study is presented to investigate the effect of the air flow behavior inside the perforation on the thermal performance of LAP-PFHS.

Keywords: heat sink, parallel flow, circular perforation, non-bypass flow

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Authors: Maria Evnevich

Abstract:

In modern conditions, in most markets, price competition is becoming less effective. On the one hand, there is a gradual decrease in the level of marginality in main traditional sectors of the economy, so further price reduction becomes too ‘expensive’ for the company. On the other hand, the effect of price reduction is leveled, and the reason for this phenomenon is likely to be informational. As a result, it turns out that even if the company reduces prices, making its products more accessible to the buyer, there is a high probability that this will not lead to increase in sales unless additional large-scale advertising and information campaigns are conducted. Similarly, a large-scale information and advertising campaign have a much greater effect itself than price reductions. At the same time, the cost of mass informing is growing every year, especially when using the main information channels. The article presents generalization, systematization and development of theoretical approaches and best practices in the field of customer focus approach to business management and in the field of relationship marketing in the modern digital economy. The research methodology is based on the synthesis and content-analysis of sociological and marketing research and on the study of the systems of working with consumer appeals and loyalty programs in the 50 largest client-oriented companies in Russia. Also, the analysis of internal documentation on customers’ purchases in one of the largest retail companies in Russia allowed to identify if buyers prefer to buy goods for complex purchases in one retail store with the best price image for them. The cost of attracting a new client is now quite high and continues to grow, so it becomes more important to keep him and increase the involvement through marketing tools. A huge role is played by modern digital technologies used both in advertising (e-mailing, SEO, contextual advertising, banner advertising, SMM, etc.) and in service. To implement the above-described client-oriented omnichannel service, it is necessary to identify the client and work with personal data provided when filling in the loyalty program application form. The analysis of loyalty programs of 50 companies identified the following types of cards: discount cards, bonus cards, mixed cards, coalition loyalty cards, bank loyalty programs, aviation loyalty programs, hybrid loyalty cards, situational loyalty cards. The use of loyalty cards allows not only to stimulate the customer to purchase ‘untargeted’, but also to provide individualized offers, as well as to produce more targeted information. The development of digital technologies and modern means of communication has significantly changed not only the sphere of marketing and promotion, but also the economic landscape as a whole. Factors of competitiveness are the digital opportunities of companies in the field of customer orientation: personalization of service, customization of advertising offers, optimization of marketing activity and improvement of logistics.

Keywords: customer focus, digital economy, loyalty program, relationship marketing

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Authors: Kholil, Ario Bimo, Hifni Alifahmi, Soecahyadi, Husen Money

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The number of smokers in Indonesia currently reached 66 million (25.09%) of the total number of smokers reaching 264 million. The government (central and local governments) have issued various rules to reduce the number of smokers, but the results are still not effective; in fact, the number of smokers continues to increase every year. This study aims to determine the influence of demographics, economy, health, and the role of government on the awareness of smokers in reducing the dangers of cigarettes. Data collection was carried out through a questionnaire distributed to 255 randomly selected respondents and data analysis using SEM (Structural Equation Model). The results of the analysis show that economic and socio-cultural factors do not directly affect the awareness of reducing the dangers of cigarettes. But indirectly, its influence becomes significant through intervening variables of communication strategies. Meanwhile, health factors and the government's role have a very significant influence both directly and indirectly on reducing the dangers of cigarettes. Thus, the main strategy to build awareness of smokers in reducing the dangers of smoking is building an effective communication strategy through three main factors: (1) health, (2) government regulations and (3) the economy.

Keywords: harm reduction, awareness, communication strategy, SEM

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Authors: Birce Boga Bakirli

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In this paper, we investigate ideas on human capital development and management in industries. We structured a model to be able to gather the data from the interviews conducted with worker, specialists and owners of companies. Different aspects of the situation are found in these interviews, and we used the information to model the benefit of the business owners and workers perspectives. These are modelled as a bi-level programming problem. Several instances of the generic cases are solved. The results show the importance of education within and out of the company for workers, and it returns for the company.

Keywords: bi-level programming, corporate strategy, cost tradeoffs, human capital, mixed integer programming, Stackelberg game, supplier relations, strategic planning

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Authors: David W. Taylor, Fernando Lourenço, Carolyn Branston, Paul Tucker

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There are an increasing number of students at Universities in the United Kingdom engaging in entrepreneurship role-play to explore business start-up as a career alternative to employment. These role-play activities have been shown to have a positive influence on students’ entrepreneurial intentions. Universities also play a role in developing graduates’ awareness of social responsibility. However, social responsibility is often missing from these entrepreneurship role-plays. It is important that these role-play activities include the development of values that support social responsibility, in-line with those running hybrid, humane and sustainable enterprises, and not simply focus on profit. The Young Enterprise (YE) Start-Up programme is an example of a role-play activity that is gaining in popularity amongst United Kingdom Universities seeking ways to give students insight into a business start-up. A Post-92 University in the North-West of England has adapted the traditional YE Directorship roles (e.g., Marketing Director, Sales Director) by including a Corporate Social Responsibility (CSR) Director in all of the team-based YE Start-Up businesses. The aim for introducing this Directorship was to observe if such a role would help create a more socially responsible value-system within each company and in turn shape business decisions. This paper investigates role-play as a tool to help enterprise educators develop socially responsible attitudes and values in nascent entrepreneurs. A mixed qualitative methodology approach has been used, which includes interviews, role-play, and reflection, to help students develop positive value characteristics through the exploration of unethical and selfish behaviors. The initial findings indicate that role-play helped CSR Directors learn and gain insights into the importance of corporate social responsibility, influenced the values and actions of their YE Start-Ups, and increased the likelihood that if the participants were to launch a business post-graduation, that the intent would be for the business to be socially responsible. These findings help inform educators on how to develop socially responsible nascent entrepreneurs within a traditionally profit orientated business model.

Keywords: student entrepreneurship, young enterprise, social responsibility, role-play, values

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Authors: Nerella Srinivas

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This study investigates the role of intellectual property (IP) management in pharmaceutical development, focusing on tools, strategies, and business models for leveraging IP effectively. Using a mixed-methods approach, we conducted case studies and qualitative analyses of IP management frameworks within the pharmaceutical sector. Our methodology included a review of IP tools tailored for pharmaceutical applications, strategic IP models for maximizing competitive advantages, and best practices for organizational efficiency. Findings emphasize the importance of understanding IP law and adopting adaptive strategies, illustrating how IP management can drive industry growth.

Keywords: intellectual property management, pharmaceutical products, IP tools, IP strategies, best practices, business models, innovation

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Authors: Zhou Jianhong

Abstract:

Model averaging is a desirable approach to deal with model uncertainty, which, however, has rarely been explored for Poisson regression. In this paper, we propose a model averaging procedure based on an unbiased estimator of the expected Kullback-Leibler distance for the Poisson regression. Simulation study shows that the proposed model average estimator outperforms some other commonly used model selection and model average estimators in some situations. Our proposed methods are further applied to a real data example and the advantage of this method is demonstrated again.

Keywords: model averaging, poission regression, Kullback-Leibler distance, statistics

Procedia PDF Downloads 518

Authors: Pallavi Kishore, Mariam Aslam

Abstract:

The sharp decline in oil prices that started in 2014 affected most economies in the world either positively or negatively. In some economies, particularly the oil exporting countries, the effects were felt immediately. The Gulf Cooperation Council’s (GCC henceforth) countries are oil and gas-dependent with the largest oil reserves in the world. UAE (United Arab Emirates) has been striving to diversify away from oil and expects higher non-oil growth in 2018. These two factors, falling oil prices and the economy strategizing away from oil dependence, make a compelling case to study the financial performance of various sectors in the economy. Among other sectors, the insurance sector is widely recognized as an important indicator of the health of the economy. An expanding population, surge in construction and infrastructure, increased life expectancy, greater expenditure on automobiles and other luxury goods translate to a booming insurance sector. A slow-down of the insurance sector, on the other hand, may indicate a general slow-down in the economy. Therefore, a study on the insurance sector will help understand the general nature of the current economy. This study involves calculations and comparisons of ratios pre and post the fall in oil prices in the insurance sector in the UAE. A sample of 33 companies listed on the official stock exchanges of UAE-Dubai Financial Market and Abu Dhabi Stock Exchange were collected and empirical analysis employed to study the financial performance pre and post fall in oil prices. Ratios were calculated in 5 categories: Profitability, Liquidity, Leverage, Efficiency, and Investment. The means pre- and post-fall are compared to conclude that the profitability ratios including ROSF (Return on Shareholder Funds), ROCE (Return on Capital Employed) and NPM (Net Profit Margin) have all taken a hit. Parametric tests, including paired t-test, concludes that while the fall in profitability ratios is statistically significant, the other ratios have been quite stable in the period. The efficiency, liquidity, gearing and investment ratios have not been severely affected by the fall in oil prices. This may be due to the implementation of stronger regulatory policies and is a testimony to the diversification into the non-oil economy. The regulatory authorities can use the findings of this study to ensure transparency in revealing financial information to the public and employ policies that will help further the health of the economy. The study will also help understand which areas within the sector could benefit from more regulations.

Keywords: UAE, insurance sector, ratio analysis, oil price, profitability, liquidity, gearing, investment, efficiency

Procedia PDF Downloads 244