Search results for: vegetable marketing

Authors: Jorge Anibal Restrepo Morales, Sonia Martín Gómez

Abstract:

A model based on a logical framework was developed to quantify SMEs' internationalization capacity. To do so, linguistic variables, such as human talent, infrastructure, innovation strategies, FTAs, marketing strategies, finance, etc. were integrated. It is argued that a company’s management of international markets depends on internal factors, especially capabilities and resources available. This study considers internal factors as the biggest business challenge because they force companies to develop an adequate set of capabilities. At this stage, importance and strategic relevance have to be defined in order to build competitive advantages. A fuzzy inference system is proposed to model the resources, skills, and capabilities that determine the success of internationalization. Data: 157 linguistic variables were used. These variables were defined by international trade entrepreneurs, experts, consultants, and researchers. Using expert judgment, the variables were condensed into18 factors that explain SMEs’ export capacity. The proposed model is applied by means of a case study of the textile and clothing cluster in Medellin, Colombia. In the model implementation, a general index of 28.2 was obtained for internationalization capabilities. The result confirms that the sector’s current capabilities and resources are not sufficient for a successful integration into the international market. The model specifies the factors and variables, which need to be worked on in order to improve export capability. In the case of textile companies, the lack of a continuous recording of information stands out. Likewise, there are very few studies directed towards developing long-term plans, and., there is little consistency in exports criteria. This method emerges as an innovative management tool linked to internal organizational spheres and their different abilities.

Keywords: business strategy, exports, internationalization, fuzzy set methods

Procedia PDF Downloads 294

Authors: Jia-Jane Shuai

Abstract:

Purpose of this research aims to improve understanding of the nature of online religion by examining the religious social websites. What motivates individual users to use the online religious social websites, and which factors affect those motivations. We survey various online religious social websites provided by different religions, especially the Taiwanese folk religion. Based on the theory of the Content Analysis and Social Network Analysis, religious social websites and religious web activities are examined. This research examined the folk religion websites’ presentation and contents that promote the religious use of the Internet in Taiwan. The difference among different religions and religious websites also be compared. First, this study used keywords to examine what types of messages gained the most clicks of “Like”, “Share” and comments on Facebook. Dividing the messages into four media types, namely, text, link, video, and photo, reveal which category receive more likes and comments than the others. Meanwhile, this study analyzed the five dialogic principles of religious websites accessed from mobile phones and also assessed their mobile readiness. Using the five principles of dialogic theory as a basis, do a general survey on the websites with elements of online religion. Second, the project analyzed the characteristics of Taiwanese participants for online religious activities. Grounded by social network analysis and text mining, this study comparatively explores the network structure, interaction pattern, and geographic distribution of users involved in communication networks of the folk religion in social websites and mobile sites. We studied the linkage preference of different religious groups. The difference among different religions and religious websites also be compared. We examined the reasons for the success of these websites, as well as reasons why young users accept new religious media. The outcome of the research will be useful for online religious service providers and non-profit organizations to manage social websites and internet marketing.

Keywords: content analysis, online religion, social network analysis, social websites

Procedia PDF Downloads 167

Authors: Todor Nickolov Stoyanov

Abstract:

Cooperatives are present in all countries and in almost all sectors, including agriculture, forestry, food, finance, health, marketing, insurance and credit. Strong cooperatives are able to overcome many of the difficulties faced by private owners. Cooperatives use seven principles, including the 'Community Concern" principle, which enables cooperatives to work for the sustainable development of the community. The members of cooperatives may use different systems for generating year-round employment and for receiving sustainable income through performing different forestry activities. Various methods are used during the preparation of the report. These include literature reviews, statistics, secondary data and expert interviews. The members of the cooperatives are benefits exclusively from increasing the efficiency of the various products and from the overall yield of the harvest, and ultimately from achieving better profit through cooperative efforts. Cooperatives also use other types of activities that are an additional opportunity for cooperative income. There are many heterogeneous activities in the production and service sectors of the forest cooperatives under consideration. Some cooperatives serve dairies, distilleries, woodworking enterprises, tourist homes, hotels and motels, shops, ski slopes, sheep breeding, etc. Through the revenue generated by the activity, cooperatives have the opportunity to carry out various environmental and protective activities - recreation, water protection, protection of endangered and endemic species, etc., which in the case of small-scale forests cannot be achieved and the management is not sustainable. The conclusions indicate the results received in the analysis. Cooperative management of forests and forest lands gives higher incomes to individual owners. The management of forests and forest lands through cooperatives helps to carry out different environmental and protective activities. Cooperative forest management provides additional means of subsistence to the owners of poor forest lands. Cooperative management of forests and forest lands support owners to implement the forest management plans and to apply sustainable management of these territories.

Keywords: cooperative, forestry, forest owners, principles of cooperation

Procedia PDF Downloads 242

Authors: Weldeabrha Kiros Kidanemaryam, DepaTesfay Kelali Gidey, Yikaalo Welu Kidanemariam

Abstract:

Dairy services are considered as sources of income, employment, nutrition and health for smallholder rural and urban farmers. The main objective of this study is to assess the interlinkage of dairy farms and small-scale dairy processing in Mekelle, Tigray. To achieve the stated objective, a descriptive research approach was employed where data was collected from 45 dairy farmers and 40 small-scale processors and analyzed by calculating the mean values and percentages. Findings show that the dairy business in the study area is characterized by a shortage of feed and water for the farm. The dairy farm is dominated by breeds of hybrid type, followed by the so called ‘begait’. Though the farms have access to medication and vaccination for the cattle, they fell short of hygiene practices, reliable shade for the cattle and separate space for the claves. The value chain at the milk production stage is characterized by a low production rate, selling raw milk without adding value and a very meager traditional processing practice. Furthermore, small-scale milk processors are characterized by collecting milk from farmers and producing cheese, butter, ghee and sour milk. They do not engage in modern milk processing like pasteurized milk, yogurt and table butter. Most small-scale milk processors are engaged in traditional production systems. Additionally, the milk consumption and marketing part of the chain is dominated by the informal market (channel), where market problems, lack of skill and technology, shortage of loans and weak policy support are being faced as the main challenges. Based on the findings, recommendations and future research areas are forwarded.

Keywords: value-chain, dairy, milk production, milk processing

Procedia PDF Downloads 32

Authors: Henri El Zakhem, Anthony Dahdah, Lara Frangieh, Jessica Koura

Abstract:

Nowadays, the removal of whey produced in the dairy processes has been the most important problem in the dairy industry. Every year, about 47% of the 115 million tons of whey produced world-wide are disposed in the environment. Whey is a nutritious liquid, containing whey proteins (β-lactoglobulin, α-lactalbumin, immunoglobulin-G, proteose pepton), lactose, vitamins (B5, B2, C, and B6), minerals (Calcium, Magnesium, Phosphorous, Potassium, Chloride, and Sodium), and trace elements (Zinc, Iron, Iodine, and Copper). The first objective was to increase the economical and commercial value of whey which is considered as by-product. The second objective of this study was to formulate a new baby food with good nutritional, sensory and storage properties and acceptable to consumers using the cheese whey. The creation of the new product must pass through the following stages: idea stage, development stage which includes the business planning and the product development prototype, packaging stage, production stage, test marketing stage, quality control/sanitation. Three types of whey-based food were selected and prepared by mixing whey and apple, whey and banana as well as whey, apple, and banana.To compile with the recommended dietary allowances (RDA) and adequate intakes (AI) for vitamins and minerals, each sample is formed from 114g of sliced and smashed fruits mixed with 8 mL of whey. Mixtures are heated to 72oC for 15 seconds, and filled in pasteurized jars. Jars were conserved at 4oC. Following the experimental part, sensory evaluation made by an experienced panel took place. Hedonic tests results show that the mixture of whey, apple, and banana has the most delicious and sweetness taste followed by the mixture of whey and banana, and finally the mixture of whey and apple. This study was concluded with a managerial and engineering study that reveals that the project is economically profitable to be executed in Lebanon.

Keywords: baby food, by-product, cheese whey, formulation

Procedia PDF Downloads 275

Authors: Innocensia John, Henrik Egelyng, Razack Lokina

Abstract:

As the world`s population is constantly growing, food security has become a thorny trending issue. The impact has particularly been felt more in Africa as most of the people depend on food Agriculture products. Geographical Indications can aid in transforming the Tanzania agriculture-dependent economy through tapping the unique attributes of their quality products like soil, taste color etc. Consumers worldwide demand more uniquer products featuring a ´connect´ with the land use systems producing particular qualities. Tanzania has demonstrated the capacity to tap into the organic world market and has untapped potential for harvesting market value from geographical indications. This paper presents preliminary results from VALOR — a research project investigating conditions under which Tanzanian origin food producers can add value by incorporating territory specific cultural, environmental and social qualities into marketing, production and processing of unique local, niche and specialty products. Cases are investigated of the prospects for Tanzania to leapfrog perhaps into exports of geographical indications products, and certainly into allowing smallholders to create employment and build monetary value, while stewarding local food cultures and natural environments and resources, and increasing the diversity of supply of natural and unique quality products and so contribute to enhanced food security. Rice from Kyela, coffee and Sugar from Kilimanjaro, are some of the product cases investigated and provides for the in-depth case study, as ´landscape´ products incorporating ´taste of place´. Framework conditions for producers creating or capturing market value as stewards of cultural and landscape values and environments and institutional requirements for such creation or capturing to happen, including presence of export opportunities, are discussed.

Keywords: food origins, food security, protected geographical indications, case study analysis

Procedia PDF Downloads 300

Authors: Malik Imtiaz Ahmad

Abstract:

The prime sources of Islamic Law or Shariah are Quran and Sunnah and is applied to the personal and public affairs of Muslims. Islamic law is deemed to be divine and furnishes a complete code of conduct based upon universal values to build honesty, trust, righteousness, piety, charity, and social justice. The primary focus of this paper was to examine the development of Islamic jurisprudence (Fiqh) over time and its relevance to the field of Islamic finance. This encompassed a comprehensive analysis of the historical context, key legal principles, and their application in contemporary financial systems adhering to Islamic principles. This study aimed to elucidate the deep-rooted connection between Islamic law and finance, offering valuable insights for practitioners and policymakers in the Islamic finance sector. Understanding the historical context and legal underpinnings is crucial for ensuring the compliance and ethicality of modern financial systems adhering to Islamic principles. Fintech solutions are developing fields to accelerate the digitalization of Islamic finance products and services for the harmonization of global investors' mandate. Through this study, we focus on institutional governance that will improve Sharia compliance, efficiency, transparency in decision-making, and Islamic finance's contribution to humanity through the SDGs program. The research paper employed an extensive literature review, historical analysis, examination of legal principles, and case studies to trace the evolution of Islamic law and its contemporary application in Islamic finance, providing a concise yet comprehensive understanding of this intricate relationship. Through these research methodologies, the aim was to provide a comprehensive and insightful exploration of the historical evolution of Islamic law and its relevance to contemporary Islamic finance, thereby contributing to a deeper understanding of this unique and growing sector of the global financial industry.

Keywords: sharia, sequencing Islamic jurisprudence, Islamic congruent marketing, social development goals of Islamic finance

Procedia PDF Downloads 70

Authors: Nishantha Giguruwa

Abstract:

This research investigates the transformative potential of smart container farming, building upon the successful cultivation of Japanese mushrooms at Sakai Farms in Aichi Prefecture, Japan, under the strategic collaboration with the Daikei Group. Inspired by this success, the study focuses on establishing an advanced urban strawberry farming laboratory with the aim of understanding strawberry farming technologies, fostering collaboration, and strategizing marketing approaches for both local and global markets. Positioned within the business framework of Sakai Farms and the Daikei Group, the study underscores the sustainability and forward-looking solutions offered by smart container farming in agriculture. The global significance of strawberries is emphasized, acknowledging their economic and cultural importance. The detailed examination of strawberry farming intricacies informs the technological framework developed for smart containers, implemented at Sakai Farms. Integral to this research is the incorporation of controlled bee pollination, a groundbreaking addition to the smart container farming model. The study anticipates future trends, outlining avenues for continuing exploration, stakeholder collaborations, policy considerations, and expansion strategies. Notably, the author expresses a strategic intent to approach the global market, leveraging the foreign student/faculty base at Ritsumeikan Asia Pacific University, where the author is affiliated. This unique approach aims to disseminate the research findings globally, contributing to the broader landscape of agricultural innovation. The integration of controlled bee pollination within this innovative framework not only enhances sustainability but also marks a significant stride in the evolution of urban agriculture, aligning with global agricultural trends.

Keywords: smart container farming, urban agriculture, strawberry farming technologies, controlled bee pollination, agricultural innovation

Procedia PDF Downloads 56

Authors: Kesi Widjajanti

Abstract:

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

Procedia PDF Downloads 74

Authors: Wei-Ting Hung

Abstract:

Inbound tourist expenditure might not only have influenced by individual tourist characteristics but may also be affected by nationality characteristics. The cross national distance effects on tourist consumption behavior should be incorporated in the analytical framework. Additionally, the often used factor analysis, cluster analysis and regression analysis overlook the hierarchical tourist consumption data structure and may lead to misleading results. The objectives of the present study were twofold. First, we propose a multilevel model that takes individual and cross-national differences into account under a hierarchical framework. Second, we further sought to determine the types of cross-national differences affecting tourist expenditure. Thus, this study incorporates the individual tourist effects and cross national distance effects simultaneously, uses the data of 2010 Annual Survey Report on Visitors’ Expenditure and Trends in Taiwan to investigate the determinants of inbound tourist expenditure. Multilevel analysis was used to investigate the influence of individual tourist effects and cross national distance effects on inbound tourist expenditure. The empirical results show that cross national distance plays a crucial role in tourist consumption behavior. Our findings also indicate age and income have positive influence on tourism expenditure., whereas education and gender do not have significant impact. Regarding macro-level factors, geographic and cultural differences exhibited significant positive relationships on tourism expenditure, while economic differences did not. Based on the above empirical results, it is suggested that tour operators should take tourists’ individual attributes, particularly their income and age, into consideration when arranging tours. In addition, nationality holds sway over tourists’ consumption behavior, of which geographic and cultural differences are the two major factors at play. The empirical results of this study serve as practical suggestions for tourism marketing strategies and policy implications for government policies.

Keywords: cross national distance, inbound tourist, multilevel analysis, tourist expenditure

Procedia PDF Downloads 360

Authors: Poonsook Thatchaopas, Nik Kamariah Nikmat, Nattakarn Eakuru

Abstract:

Since 2003, the Thai Government has implemented several initiatives to encourage and incubate entrepreneurial skills and motivation among her citizens. One of the initiatives is the “One College One Product” business model or well known as ‘OCOP’, launched by the Vocational Education Commission to encourage partnership between college students to choose at least one product for business venture. In line with this mission, several business enterprises were established such as food products, restaurants, spa, Thai massage, minimart, computer maintenance, karaoke centre, internet café, mini theater etc. Currently, these business incubator projects can be observed at 404 vocational colleges and 21 incubation centres to encourage entrepreneurial small and medium enterprise (SME) development. However, the number of successful OCOP projects is still minimal. Out of the 404 individual OCOP projects at Vocational Colleges around Thailand, very few became successful. The objective of this paper is to identify the critical success factors needed to be a successful OCOP business entrepreneur. This study uses qualitative method by interviewing business partners of an OCOP business called Crispy Roti Krua Acheeva Brand (CRKAB). It is a snack food company that is developed at Pattani Vocational College in South Thailand. This project was initiated by three female entrepreneurs who were alumni student cum owners of the CRKAB. The finding shows that the main critical success factors are self-confidence, creativity or innovativeness, knowledge, skills and perseverance. Additionally, they reiterated that the keys to business success are product quality, perceived price, promotion, branding, new packaging to increase sales and continuous developments. The results implies for a student business SME to be successful, the company should have credible partners and effective marketing plan.

Keywords: student entrepreneurship, business incubator, food industry, qualitative, Thailand

Procedia PDF Downloads 392

Authors: Efe Çukur

Abstract:

This study aims to discuss and compare i) widespread and generic design, particularly industrial design education in relation to the specific needs of the automotive/transportation industry, and ii) an automotive/transportation design education model within and under to provide the conditions of design education and automotive industry, especially in Turkey and T.R.N.C. The automotive industry is the 11th largest in the world ($1.51 trillion). One of the most important departments in this industry, along with sales, marketing and engineering, is the design department. The automotive industry is known as the locomotive industry, but there is a non-automotive design department on the academic side of Turkey. This suggestion; includes the presentation of a program proposal that meets the needs of the industry for Turkey and T.R.N.C., the second largest automobile manufacturing country in Europe. On the education side, industrial design education has become a generic title. Automotive design studios are divided into several subgroups. Even in the higher graduate education, the automotive design departments get their subgroups like exterior design and interior design. Transportation design, which is a subfield of industrial design, is offered as higher education in transportation design departments, particularly in America and Europe. In these departments, the curriculum is shaped to the needs of the sectors. Higher education transportation design programs began in the mid-20th century. Until those high education programs...Until these high education programs, the industry has adapted architectures and engineers for designer workloads. Still today transportation design graduates are not the majority of the design studios. The content of the study is an in-depth comparison of these institutions and how the requirements, demands of the industry are met in this regard and revealed. Some of the institutions are selected from Europe and US. To be analyzed under the headings of staff, courses, syllabus, University-Industry collaboration, and location selection. The study includes short, mid, and long term proposals and a hypothesis for discussion. In short, the study will not only provide a wide comparative scope of information on generic and specialized aspects of design education in different countries but also propose a higher education model for automotive / transportation design with solid data of requirements, methodology, and structure regarding learning outcomes, and especially industry cooperation.

Keywords: design education, automotive - transportation design programs, transportation design, automotive industry in Turkey /T.R.N.C., automotive design education in Turkey /T.R.N.C.

Procedia PDF Downloads 93

Authors: W. R. M. Shehani Shanika

Abstract:

Selling goods and services using images, names and personalities of celebrities has become a common marketing strategy identified in modern physical and online markets. Two concepts called globalization and open economy have given numerous reasons to develop businesses to earn higher profits. Therefore, global market plus domestic markets in various countries have vigorously endorsing images of famous sport stars, film stars, singing stars and cartoon characters for the purpose of increasing demand for goods and services rendered by them. It has been evident that these trade strategies have become a threat to famous personalities in financially and personally. Right to the image is a basic human right which celebrities owned to avoid themselves from various commercial exploitations. In this respect, this paper aims to assess whether the law relating to character merchandising satisfactorily protects right to image of celebrities. However, celebrities can decide how much they receive for each representation to the general public. Simply they have exclusive right to decide monetary value for their image. But most commonly every country uses law relating to unfair competition to regulate matters arise thereof. Legal norms in unfair competition are not enough to protect image of celebrities. Therefore, celebrities must be able to avoid unauthorized use of their images for commercial purposes by fraudulent traders and getting unjustly enriched, as their images have economic value. They have the right for use their image for any commercial purpose and earn profits. Therefore it is high time to recognize right to image as a new dimension to be protected in the legal framework of character merchandising. Unfortunately, to the author’s best knowledge there are no any uniform, single international standard which recognizes right to the image of celebrities in the context of character merchandising. The paper identifies it as a controversial legal barrier faced by celebrities in the rapidly evolving marketplace. Finally, this library-based research concludes with proposals to ensure the right to image more broadly in the legal context of character merchandising.

Keywords: brand endorsement, celebrity, character merchandising, intellectual property rights, right to image, unfair competition

Procedia PDF Downloads 138

Authors: Dagnew Dessie Mengie

Abstract:

The purpose of this study was to investigate German tourists' demand for Ethiopian tourism destinations. The author has made every effort to identify the differences in the preferences of German visitors’ demand in Ethiopia comparing with Egypt, Kenya, Tanzania, and South African tourism sectors if they are invited to visit at the same time. However, the demand for international tourism for Ethiopia currently lags behind these African countries. Therefore, to offer demand-driven tourism products, the Ethiopian government and tour and travel operators need to understand the important factors that affect international tourists’ decision to visit Ethiopian tourist destinations. The aim of this study was to analyze German Tourists’ Demand for Ethiopian destinations. The researcher aimed to identify the demand for German tourists’ preference for Ethiopian tourist destinations compared to the above-mentioned African countries. For collecting and analysing data for this study, both quantitative and qualitative methods of research are being used in this study. The most significant data are collected by using the primary data collection method i.e. survey and interviews which are the most and large number of potential responses and feedback from nine German active tourists,12 Ethiopian tourism officials, four African embassies, and four well functioning private tour companies and secondary data collected from books, journals, previous research and electronic websites. Based on the data analysis of the information gathered from interviews and questionnaires, the study disclosed that the majority of German tourists do have not that high demand for Ethiopian Tourist destinations due to the following reasons: (1) Many Germans are fascinated by adventures and safari and simply want to lie on the beach and relax. These interests have leaded them to look for other African countries which have these accesses. (2) Uncomfortable infrastructure and transport problems are attributed to the decreasing number of German tourists in the country. (3) Inadequate marketing operation of the Ethiopian Tourism Authority and its delegates in advertising and clarifying the above irregularities which are raised by the tourists.

Keywords: environmental benefits of tourism, social benefits of tourism, economic benefits of tourism, political factors on tourism

Procedia PDF Downloads 40

Authors: Sung Hee Ahn, Ju Rang Han

Abstract:

Background: With increasing importance in healthcare organization on patient satisfaction and nurses’ job satisfaction, many studies have been conducted. But no research has been administered how nurses’ satisfaction with healthcare organization influence patient satisfaction and loyalty. Purpose: This study aims to conceptualize nurses‘ satisfaction, patient satisfaction with and patient loyalty to hospitals using a hypothetical linear structural equation model, and to identify the significance of path coefficients and goodness of fit index of the structural equation model as well. Method: A total of 2,079 nurses and 6,776 patients recruited from 5 university hospitals in South Korea participated in this study. The data on nurses, including ward nurses and outpatient nurses, were collected from June 24th to July 12th, at the 204 departments of the 5 hospitals through an on-line survey. The data on the patients, including both inpatients and outpatients, were collected from September 30th to October 24th, 2013 at the 5 hospitals using a structured questionnaire. The variable of nurses’ satisfaction was measured using a scale evaluating internal client satisfaction, which is used in SSM Health Care System in the US. Patient satisfaction with the hospital and nurses and patient loyalty were measured by assessing the patient’s intention to revisit and to recommending the hospital to others using a visual analogue scale. The data were analyzed using SPSS version 21.0 and AMOS version 21.0. Result: The hypothetical model was fairly good in terms of goodness of fit (χ2= 64.897 (df=24, p <. 001), GFI=. 906, AGFI=.823, CFI=.921, NFI=.951, NNFI=.952. RMSEA=.114). The significance of path coefficients includes followings 1)The nurses’ satisfaction has significant influence on the patient satisfaction with nurses. 2)The patient satisfaction with nurses has significant influence on the patient satisfaction with the hospital. 3)The patient satisfaction with the hospital has significant influence on the patients’ revisit intention. 4)The patient satisfaction with the hospital has significant influence on the patients’ intention to the recommendations of the hospital. Conclusion: These results provide several practical implications to hospital administrators, who should incorporate ways of improving nurses' and patients' satisfaction with the hospital into their health care marketing strategies.

Keywords: linear structural equation model, loyalty, nurse, patient satisfaction

Procedia PDF Downloads 441

Authors: Danielle C. B. Honorato, Rafael H. Carvalho, Adriana L. Soares, Ana Paula F. R. L. Bracarense, Paulo D. Guarnieri, Massami Shimokomaki, Elza I. Ida

Abstract:

Over the past decade, the Brazilian production of turkey meat increased by more than 50%, indicating that the turkey meat is considered a great potential for the Brazilian economy contributing to the growth of agribusiness at the marketing international scenario. However, significant color changes may occur during its processing leading to the pale, soft and exudative (PSE) appearance on the surface of breast meat due to the low water holding capacity (WHC). Changes in PSE meat functional properties occur due to the myofibrils proteins denaturation caused by a rapid postmortem glycolysis resulting in a rapid pH decline while the carcass temperature is still warm. The aim of this study was to analyze the physical, chemical and histological characteristics of PSE turkey meat obtained from a Brazilian commercial processing plant. The turkey breasts samples were collected (n=64) at the processing line and classified as PSE at L* ≥ 53 value. The pH was also analyzed after L* measurement. In sequence, PSE meat samples were evaluated for WHC, cooking loss (CL), shear force (SF), myofibril fragmentation index (MFI), protein denaturation (PD) and histological evaluation. The abnormal color samples presented lower pH values, 16% lower fiber diameter, 11% lower SF and 2% lower WHC than those classified as normal. The CL, PD and MFI were, respectively, 9%, 18% and 4% higher in PSE samples. The Pearson correlation between the L* values and CL, PD and MFI was positive, while that SF and pH values presented negative correlation. Under light microscopy, a shrinking of PSE muscle cell diameter was approximately 16% shorter in relation to normal samples and an extracellular enlargement of endomysium and perimysium sheaths as the consequence of higher water contents lost as observed previously by lower WHC values. Thus, the results showed that PSE turkey breast meat presented significant changes in their physical, chemical and histological characteristics that may impair its functional properties.

Keywords: functional properties, histological evaluation, meat quality, PSE

Procedia PDF Downloads 460

Authors: S. Archsana, Vajira Balasuriya

Abstract:

In Trincomalee of Sri Lanka, a post-conflict area, resettlement projects and policy initiatives are taking place to improve the wealth of the rural communities through promoting economic activities by way of encouraging the rural women to opt to commence and operate Micro and Small Scale (MSS) businesses. This study attempts to identify the manner in which the institutional environment could facilitate these MSS businesses owned and operated by women in the rural environment. The respondents of this study are the beneficiaries of the Divi Neguma Development Training Program (DNDTP); a project designed to aid women owned MSS businesses, in Trincomalee district. 96 women business operators, who had obtained financing facilities from the DNDTP, are taken as the sample based on fixed interval random sampling method. The study reveals that primary challenges encountered by 82% of the women business operators are lack of initial capital followed by 71% initial market finding and 35% access to technology. The low level of education and language barriers are the constraints in accessing support agencies/service providers. Institutional support; specifically management and marketing services, have a significant relationship with wealth augmentation. Institutional support at the setting-up stage of businesses are thin whereas terms and conditions of the finance facilities are perceived as ‘too challenging’. Although diversification enhances wealth of the rural women business operators, assistance from the institutional framework to prepare financial reports that are required for business expansion is skinny. The study further reveals that institutional support is very much weak in terms of providing access to new technology and identifying new market networks. A mechanism that could facilitate the institutional framework to support the rural women business operators to access new technology and untapped market segments, and assistance in preparation of legal and financial documentation is recommended.

Keywords: business facilitation, institutional support, rural women business operators, wealth augmentation

Procedia PDF Downloads 437

Authors: Xenia I. Loizidou, Anthi Gavriel, Demetra Petsa

Abstract:

The tourism industry is a significant contributor to Cyprus's Gross Domestic Product. However, as the main tourism product is 'sun and sea', the industry is significantly unsustainable, with the majority of tourists (approx. 90%) concentrated in coastal areas over a short period of time, causing negative environmental, social, and economic impacts. The newly established Cypriot Deputy Ministry of Tourism aims to diversify the Cypriot tourism industry by focusing on the development of niche tourism products that will elongate the touristic season and divert visitors to inland mountainous and rural areas. In this respect, conference and event tourism is an ideal product for development. The current paper presents the results of fieldwork carried out between January and March 2020 in Cyprus, with key stakeholders within the conference and event tourism sector. The work consisted of a survey and semi-structured interviews to determine the current level of sustainability within the conference tourism sector, the main barriers to the sector's development, as well as key stakeholder insights and suggestions for measures to improve the sector's sustainability. The results suggest that there is a general lack of understanding of the negative economic, environmental and social impacts associated with the organization of conventional conferences and events, compared to the positive impacts of sustainable conferences/events. There also seems to be a lack of awareness of actions that can be taken to make the conference and event sector more sustainable. Incentives, marketing, branding, and training are identified as some of the effective means to improve the sustainability of the Cypriot conference and event sector, as is the development of country-wide sustainability policy and a review and enforcement of national waste management legislation. The research outputs will be utilized for the development of targeted toolkits, training, and awareness-raising activities that will drive Cyprus towards becoming an international sustainable tourism destination.

Keywords: conference, event, sustainability, tourism

Procedia PDF Downloads 128

Authors: Merly Patiño Villanueva, Dubys Villarreal Torres, Eduardo Salazar Araujo, Lezly Ramos Macedo

Abstract:

The concept of sustainability has been influencing business thinking from the perspective of various economic sectors and their environment, looking for concerns related to the risks associated with the indiscriminate consumption of the planet's resources, which have been widely studied and exposed by different public and private organizations. Tourism is not outsider to this reality; therefore, the concept of sustainable tourism evolves towards the integral management of resources, attending the needs of tourists, host communities and service providers, protecting ecosystems and assuring the conservation of the environment and its biodiversity. Considering the above, the purpose of this paper is to identify trends aimed at promoting sustainable tourism in the destinations of Barranquilla (Colombia) and Nayarit (Mexico). This study is part of the realistic epistemological paradigm, based on the existence of a specific environment for the development of tourism activity and the best sustainability practices associated with this industry, which can be observed and studied, therefore, this research contemplates qualitative research techniques such as the focus group and the interview, applied to 8 experts who are part of the value chain of the sector under study, added to a documentary review taken from the scientific databases Wos and Scopus, as well as statistical information published by official bodies. The data obtained were processed with the qualitative analysis software N-VIVO version 13. As a result, trends and actions to promote tourism are identified for the positioning of the cities of Barranquilla (Colombia) and Nayarit (Mexico) as sustainable destinations: first, the recovery of green areas and environmental spaces, as well as the realization of cultural events; promotion and encouragement of the creative industry and finally the realization of international events. It is concluded that both cities develop activities, projects and investments of public initiative, aimed at positioning them as sustainable tourist destinations.

Keywords: marketing, sustainability, tourism management, policies

Procedia PDF Downloads 98

Authors: Fatima Homor

Abstract:

The new era in business has started, according to my research paper findings, corporate social responsibility leads organizations to an incomparable advantage phase, where competition is secondary and financial growth is a result. Those who join later, lose their active advantage and cause passive disadvantage for their organizations. The main purpose of this presentation is to state the obvious and shed the light of the advantages of doing good, while doing well for multinational enterprises, extremely low fluctuation (preventing one of the highest costs), significantly lower marketing budget, enhanced reputation causing customer and supplier loyalty, employee commitment results in higher motivation level leading to better quality at each stages, Corporate Social Responsibility brings Unique Selling Proposition incomparable to others. The paper is based on a large research work conducted for the University of Liverpool Masters in Business Administration program, with the title of Corporate Social Responsibility for Multinational Enterprises to gain incomparable advantage. The research is based on both recent secondary data, but most importantly on 25 interviews with Chief Executive Officers at Multinational Enterprises and / or the Human Resources / corporate communications directors. The direct gains on Corporate Social Responsibility are analyzed when it is embedded into the core of the business. It is evident that project based Corporate Social Responsibility is not effective neither from the supported topic, Non-governmental Organizations point of view nor from the organization’s long-term sustainability point of view. Surveys have been conducted, data compared and consequences drawn. Corporate Social Responsibility must be started inside of the business to strengthen it. First, commit employees. It must come from the Chief Executive Officer. It must be related to the business profile. It has to be long term. They will commit customers. B-corps are coming (e.g. Unilever); the phenomenon of social enterprises has become a leading one.

Keywords: B-corps, embedded into core business, first inside, unique advantage

Procedia PDF Downloads 205

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

Abstract:

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

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

Procedia PDF Downloads 414

Authors: Yi-Chu Liu, Hsiu-Huei Hung, Li-Hui Yang, Ming-Jyh Chen

Abstract:

introduction: To promote environmental sustainability, the hospital formed a corporate volunteer team in 2016 to build the Green Experiential Education Center. Our green creation center utilizes attic space to achieve sustainability objectives such as energy efficiency and carbon reduction. Other than executing sustainable plans, the center emphasizes experiential education. We invite our community to actively participate in building a sustainable, economically viable environment. Since 2020, the China Medical University Hospital has provided medical care to the Tgbin community in Taichung City's Heping District. The tribe, primarily composed of Atayal people, the elderly comprise 18% of the total population, and these families' per capita income is relatively low compared to Taiwanese citizens elsewhere. Purpose / Methods: With the experiences at the Green Experiential Education Center, CMUH team identifies the following objectives: Create an aquaponic system to supply vulnerable local households with food. Create a solar renewable energy system to meet the electricity needs of vulnerable local households. Promote the purchase of green electricity certificates to reduce the hospital's carbon emissions and generate additional revenue for the local community. Materials and Methods: In March 2020, we visited the community and installed The aquaponic system in January 2021. CMUH spent 150,000NT (approximately 5000US dollars) in March 2021 to build a 100-square-meter aquaponic system. The production of vegetables and fish caught determines the number of vulnerable families that can be supported. The aquaponics system is a kind of Low energy consumption and environmentally friendly production method, and can simultaneously achieve energy saving, water saving, and fertilizer saving .In September 2023, CMUH will complete a solar renewable energy system. The system will cover an area of 308 square meters and costs approximately NT$240,000 (approximately US$8,000). The installation of electricity meters will enable statistical analysis of power generation. And complete the Taiwan National Renewable Energy Certificate application process. The green electricity certificate will be obtained based on the monthly power generation from the solar renewable energy system. Results: I Food availability and access are crucial considering the remote location and aging population. By creating a fish and vegetable symbiosis system, the vegetables and catches produced will enable economically disadvantaged families to lower food costs. In 2021 and 2022, the aquaponic system produced 52 kilograms of vegetables and 75 kilograms of catch. The production ensures the daily needs of 8 disadvantaged families. Conclusions: The hospital serves as a fortress for public health and the ideal setting for corporate social responsibility. China Medical University Hospital and the Green Experiential Education Center work to strengthen ties with rural communities and offer top-notch specialty medical care. We are committed to assisting people in escaping poverty and hunger as part of the 2030 Sustainable Development Goals.

Keywords: environmental education, sustainability, energy conservation, carbon emissions, rural area development

Procedia PDF Downloads 82

Authors: Nizamuddin Khan

Abstract:

Integrated livestock and cropping system is very old agricultural practice since antiquity. It is an eco-friendly and sustainable farming system in which both the resources are optimally and rationally utilized through the recycling and re-utilization of their by-products. Indian farmers follow in- farm integrated farming system unlike in developed countries where both farm and off-farm system prevailed. The data on different components of the integrated farming system is very limited and that too is not widely available in published form. The primary source is the only option for understanding the mechanism, process, evaluation and performance of integrated livestock cropping system. Researcher generated data through the field survey of sampled respondents from sampled villages from Bulandshahr district of Uttar Pradesh. The present paper aims to understand the component group of system, degree, and level of integration, level of generation of employment, income, improvement in farm ecology, the economic viability of farmers and check in rural-urban migration. The study revealed that area witnessed intra farm integration in which both livestock and cultivation of crops take place on the same farm. Buffalo, goat, and poultry are common components of integration. Wheat, paddy, sugarcane and horticulture are among the crops. The farmers are getting 25% benefit more than those who do not follow the integrated system. Livestock husbandry provides employment and income through the year, especially during agriculture offseason. 80% of farmers viewed that approximately 35% of the total expenditure incurred is met from the livestock sector. Landless, marginal and small farmers are highly benefited from agricultural integration. About 70% of farmers acknowledged that using wastes of animals and crops the soil ecology is significantly maintained. Further, the integrated farming system is helpful in reducing rural to urban migration. An incentive with credit facilities, assured marketing, technological aid and government support is urgently needed for sustainable development of agriculture and farmers.

Keywords: integrated, recycle, employment, soil ecology, sustainability

Procedia PDF Downloads 172

Authors: Amir M. Shikhli, Refaat H. Abdel-Razek, Salaheddine Bendak

Abstract:

Innovation is considered to be one of the key factors that influence long-term success of any company. The problem of many organizations in developing countries is trying to implement innovation without a strong basis within the organizational culture to support it. The objective of this study is to assess the effects of organizational culture on innovation in one of the biggest information technology organizations in UAE, Injazat Data System. First, an Organizational Culture Assessment Instrument (OCAI) was used as a survey and Competing Value Framework as a model to analyze the existing culture within the organization and determine its characteristics. Following that, a modified version of the Community Innovation Survey (CIS) was used to determine innovation types introduced by the organization. Then multiple linear regression analysis was used to find out the effects of existing organizational culture on innovation. Results show that existing organizational culture is composed of a combination of Hierarchy (29.4%), Clan (25.8%), Market (24.9%) and Adhocracy (19.9%). Results of the second survey show that the organization focuses on organizational innovation (26.8%) followed by market and product innovations (25.6%) and finally process innovation (22.0%). Regression analysis results reveal that for each innovation type there is a recommended combination of the four culture types. For product innovation, the combination is 47.4% Clan, 17.9% Adhocracy, 1.0% Market and 33.3% Hierarchy; for process innovation it is 19.7% Clan, 45.2% Adhocracy, 32.0% Market and 3.1% Hierarchy; for organizational innovation the combination is 5.4% Clan, 32.7% Adhocracy, 6.0% Market and 55.9% Hierarchy; and for market innovation it is 25.5% Clan, 42.6% Adhocracy, 32.6% Market and 8.4% Hierarchy. Based on these recommended combinations, this study suggests two ways to enhance the innovation culture in the organization. First, if the management decides on the innovation type to be enhanced, a comparison between the existing culture and the recommended combination of selected innovation types will lead to difference in percentages of each culture type. Then further analysis should show how to modify the existing culture to match the recommended combination. Second, if the innovation type is not selected, but the management wants to enhance innovation culture in the organization, the difference in percentages of each culture type will lead to finding out the recommended combination of culture types that gives the narrowest gap between existing culture and recommended combination.

Keywords: developing countries, organizational culture, innovation types, product innovation, process innovation, organizational innovation, marketing innovation

Procedia PDF Downloads 274

Authors: Victor N. Anisimov, Igor E. Serov, Ksenia M. Kolkova, Natalia V. Galkina

Abstract:

The problem of memorability of the advertising content is closely connected with the key issues of neuromarketing. The memorability of the advertising content contributes to the marketing effectiveness of the promoted product. Significant directions of studying the phenomenon of memorability are the memorability of the brand (detected through the memorability of the logo) and the memorability of the product offer (detected through the memorization of dynamic audiovisual advertising content - commercial). The aim of this work is to reveal the predictors of memorization of static and dynamic audiovisual stimuli (logos and commercials). An important direction of the research was revealing differences in psychophysiological correlates of memorability between static and dynamic audiovisual stimuli. We assumed that static and dynamic images are perceived in different ways and may have a difference in the memorization process. Objective methods of recording psychophysiological parameters while watching static and dynamic audiovisual materials are well suited to achieve the aim. The electroencephalography (EEG) method was performed with the aim of identifying correlates of the memorability of various stimuli in the electrical activity of the cerebral cortex. All stimuli (in the groups of statics and dynamics separately) were divided into 2 groups – remembered and not remembered based on the results of the questioning method. The questionnaires were filled out by survey participants after viewing the stimuli not immediately, but after a time interval (for detecting stimuli recorded through long-term memorization). Using statistical method, we developed the classifier (statistical model) that predicts which group (remembered or not remembered) stimuli gets, based on psychophysiological perception. The result of the statistical model was compared with the results of the questionnaire. Conclusions: Predictors of the memorability of static and dynamic stimuli have been identified, which allows prediction of which stimuli will have a higher probability of remembering. Further developments of this study will be the creation of stimulus memory model with the possibility of recognizing the stimulus as previously seen or new. Thus, in the process of remembering the stimulus, it is planned to take into account the stimulus recognition factor, which is one of the most important tasks for neuromarketing.

Keywords: memory, commercials, neuromarketing, EEG, branding

Procedia PDF Downloads 251

Authors: C. Nathanailides, P. Logothetis, G. Kanlis S. Anastasiou, L. Kokokiris, P. Mpeza

Abstract:

Farmed Red porgy (Pagrus pagrus) is one of the “new candidate fish species” for the diversification of Mediterranean aquaculture which is predomintly based on the cultivation of the European sea bass, (Dicenfrarchus labrax), and the gilthead sea bream, (Sparus aurata). The quality of farmed red porgy (Pagrus pagrus) was investigated with samples obtained from the local fish market in the region of Igoumenitsa, NW Greece. Sample of the fish (ungutted and with scales) were purchased from three local fish mongers and transported to the laboratory within few minutes in foamed polystyrene boxes in ice. The average weight of whole fish ranged between 271-289g. A sample of the fish flesh taken from the upper epaxial region was transferred aseptically to a stomacher bag containing sterile Buffered Peptone Water solution (0.1%) and homogenized. After serial dilutions in 0.1% peptone water, the homogenates were spread on the surface of agar plates. Total viable counts (TVC) were determined using plate count agar after incubation at 30 oC for 3 days. The quality attributes monitored during the present work included bacterial load (total mesophilic) and the pH of the flesh. There was a marginal increase in the price of fresh red porgy sold during the summer time, with prices ranging, over a period of four seasons, from 5.85 to 7.5 per kilo. The results of the microbiological analysis indicate that with the exception of summer samples (which exhibited 5.23 (±0.13) log cfu/g), the bacterial load remained well below the legal limits and was around 3.1 log cfu/g. The pH values varied between 6.54 and 6.69. The results indicate a possible influence of season on the bacterial load of fish sold in the market. Nevertheless, the parameters investigated in the present work indicate that the bacteria load was well below the legal limit and that fish were sold within few days after harvesting. The peak of bacterial load in the summer samples may be a result of a post-harvesting contamination of the farmed fish and temperature fluctuations during handling and transportation.

Keywords: fish quality, marketing, aquaculture, Pagrus pagrus

Procedia PDF Downloads 678

Authors: Dagnew Dessie Mengie

Abstract:

The purpose of this study was to investigate German tourists' demand for Ethiopian tourism destinations. The author has made every effort to identify the differences in the preferences of German visitors’ demand in Ethiopia comparing with Egypt, Kenya, Tanzania, and South African tourism sectors if they are invited to visit at the same time. However, the demand of international tourism for Ethiopia currently lags behind these African countries. Therefore, to offer demand-driven tourism products, the Ethiopian government, Tour & Travel operators need to understand the important factors that affect international tourists’ decision to visit Ethiopian tourist destinations. The aim of this study was intended to analyze German Tourists’ Demand towards Ethiopian destination. The researcher aimed to identify the demand for German tourists’ preference to Ethiopian tourist destinations comparing to the above-mentioned African countries. For collecting and analysing data for this study, both quantitative and qualitative methods of research are being used in this study. The most significant data are collected by using the primary data collection method i.e. survey and interviews which are the most and large number of potential responses and feedback from nine German active tourists,12 Ethiopian tourism officials, four African embassies, and four well functioning private tour companies and secondary data collected from books, journals, previous research and electronic websites. based on the data analysis of the information gathered from interviews and questionnaires, the study disclosed that majority of German tourists have not that much high demand on Ethiopian Tourist destinations due to the following reasons; Many Germans are fascinated by adventures, safari and simply want to lie on the beach and relax. These interests have leaded them to look for other African countries which have these accesses. Uncomfortable infrastructure and transport problems attributed for the decreasing the number of German tourists in the country. Inadequate marketing operation of Ethiopian Tourism Authority and its delegates in advertising and clarifying the above irregularities which are raised by the tourists.

Keywords: environmental benefits of tourism, social benefits of tourism, economical benefits of tourism, political factors in tourism

Procedia PDF Downloads 35

Authors: Norma Kok, Diemo Masuko, Thandokazi Dlongwana, Komala Pillay

Abstract:

CONTEXT: While many school principals have been outstanding teachers and have inherent leadership potential, many have not had access to the quality of leadership development or support that empowers them to produce high-quality education outcomes in extremely challenging circumstances. Further, school leaders in under-served communities face formidable challenges arising from insufficient infrastructure, overcrowded classrooms, socio-economic challenges within the community, and insufficient parental involvement, all of which put a strain on principals’ ability to lead their schools effectively. In addition few school leaders have access to other supportive networks, and many do not know how to build and leverage social capital to create opportunities for their schools and learners. Moreover, we know that fostering parental involvement in their children’s learning improves a child’s morale, attitude, and academic achievement across all subject areas, and promotes better behaviour and social adjustment. Citizen Leader Lab facilitates the Partners for Possibility (PfP) programme to provide leadership development and support to school leaders serving under-resourced communities in South Africa to create effective environments of learning. This is done by creating partnerships between school leaders and private-sector business leaders over a 12-month period. (185) OBJECTIVES: To explore school leaders’ perceptions of their leadership capacities and changes at their schools after being exposed to a year-long leadership development training programme. METHODS: School leaders gained new leadership capacities e.g. resilience, improved confidence, communication and conflict resolution skills - catalysing into improved cultures of collaborative decision-making and environments for enhanced teaching and learningprogramme based on the 70:20:10 model whereby: 10% of learning comes from workshops, 20% of learning takes place through peer learning and 70% of learning occurs through experiential learning as partnerships work together to identify and tackle challenges in targeted schools. Participants completed a post-programme questionnaire consisting of structured and unstructured questions and semi-structured interviews were conducted with them and their business leader. The interviews were audio-recorded, transcribed and thematic content analysis was undertaken. The analysis was inductive and emerging themes were identified. A code list was generated after coding was undertaken using computer software (Dedoose). Quantitative data gathered from surveys was aggregated and analysed. RESULTS: School leadership found the programme interesting and rewarding. They gained new leadership capacities such as resilience, improved confidence, communication and conflict resolution skills - catalyzing into improved cultures of collaborative decision-making and environments for enhanced teaching and learning. New networks resulted in tangible outcomes such as upgrades to school infrastructure, water and sanitation, vegetable gardens at schools resulting in nutrition for learners and/or intangible outcomes such as skills for members of school management teams (SMTs). Collaborative leadership led to SMTs being more aligned, efficient, and cohesive; and teachers being more engaged and motivated. Notable positive changes at the school inspired parents and community members to become more actively involved in the school and in their children’s education. CONCLUSION: The PfP programme leads to improved leadership capacities and improved school culture which leads to improved teaching and learning and new resources for schools.

Keywords: collaborative decision-making, collaborative leadership, community involvement, confidence

Procedia PDF Downloads 91

Authors: Vakhtang Charaia, Mariam Lashkhi

Abstract:

Foreign direct investment (FDI) plays a vital role in global business. It provides firms with new markets and advertising channels, cheaper production facilities, admission to new technology, products, skills and financing. FDI can provide a recipient country/company with a source of new technologies, capital, practice, products, management skills, and as such can be a powerful drive for economic development. It is one of the key elements of stable economic development in many countries, especially in developing ones. Therefore the size of FDI inflow is one of the most crustal factors for economic perfection in small economy countries (like, Georgia), while most of developed ones are net exporters of FDI. Since, FDI provides firms with new markets; admission to new technologies, products and management skills; marketing channels; cheaper production facilities, and financing opportunities. It plays a significant role in Georgian economic development. Increasing FDI inflows from all over the world to Georgia in last decade was achieved with the outstanding reforms managed by the Georgian government. However, such important phenomenon as world financial crisis and Georgian-Russian war put its consequence on the over amount of FDI inflow in Georgia in the last years. It is important to mention that the biggest investor region for Georgia is EU, which is interested in Georgia not only from the economic points of view but from political. The case studies from main EU investor countries show that Georgia has a big potential of investment in different areas, such as; financial sector, energy, construction, tourism industry, transport and communications. Moreover, signing of Association Agreement between Georgia and EU will further boost all the fields of economy in Georgia in both short and long terms. It will attract more investments from different countries and especially from EU. The last, but not least important issue is the calculation of annual FDI inflow to Georgia, which it is calculated differently by different organizations, based on different methodologies, but what is more important is that all of them show significant increase of FDI in last decade, which gives a positive signal to investors and underlines necessity of further improvement of investment climate in the same direction.

Keywords: foreign direct investment (FDI), Georgia, investment development path, investment climate

Procedia PDF Downloads 279

Authors: M. Miljkovic, A. Urakpo, M. Simic-Koumoutsaris

Abstract:

Benefit-risk assessment (BRA) is a valuable tool that takes place in multiple stages during a medicine's lifecycle, and this assessment can be conducted in a variety of ways. The aim was to summarize current BRA methods used during approval decisions and in post-approval settings and to see possible future directions. Relevant reviews, recommendations, and guidelines published in medical literature and through regulatory agencies over the past five years have been examined. BRA implies the review of two dimensions: the dimension of benefits (determined mainly by the therapeutic efficacy) and the dimension of risks (comprises the safety profile of a drug). Regulators, industry, and academia have developed various approaches, ranging from descriptive textual (qualitative) to decision-analytic (quantitative) models, to facilitate the BRA of medicines during the product lifecycle (from Phase I trials, to authorization procedure, post-marketing surveillance and health technology assessment for inclusion in public formularies). These approaches can be classified into the following categories: stepwise structured approaches (frameworks); measures for benefits and risks that are usually endpoint specific (metrics), simulation techniques and meta-analysis (estimation techniques), and utility survey techniques to elicit stakeholders’ preferences (utilities). All these approaches share the following two common goals: to assist this analysis and to improve the communication of decisions, but each is subject to its own specific strengths and limitations. Before using any method, its utility, complexity, the extent to which it is established, and the ease of results interpretation should be considered. Despite widespread and long-time use, BRA is subject to debate, suffers from a number of limitations, and currently is still under development. The use of formal, systematic structured approaches to BRA for regulatory decision-making and quantitative methods to support BRA during the product lifecycle is a standard practice in medicine that is subject to continuous improvement and modernization, not only in methodology but also in cooperation between organizations.

Keywords: benefit-risk assessment, benefit-risk profile, product lifecycle, quantitative methods, structured approaches

Procedia PDF Downloads 154