Search results for: mMulti-perspective business processes
7003 Horizon Scanning of Disruptive Technology Trends in Marine for 2030 Horizon
Authors: Jose Gonzalez, Fai Cheng, Ivy Fan
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Shipping has a mature and ever expanding worldwide market. The future of the marine industry itself is not only irrevocably linked with the global economic, social, and political landscape; it is also subject to the technological developments in different fields. Some of them may have never been linked to the marine industry before. Companies in the marine sector are getting more dependent on technologies to achieve competitive advantage in an increasing open market. Technologies can be fused across different business functions and geopolitical influences. A successful marine business should be prepared to embrace such potential changes that lie ahead. The present paper intends to articulate long-term marine technology strategies from an industrial perspective. Methodology and current development are introduced. The paper will also provide insight into future technological trends demand for major commercial ship types. It may also assist different stakeholders in tailoring their long-term strategies to achieve a Sea Change and to uncap opportunity.Keywords: commercial sector, marine, trends, technology
Procedia PDF Downloads 4077002 Development of CaO-based Sorbents Applied to Sorption Enhanced Steam Reforming Processes
Authors: P. Comendador, I. Garcia, S. Orozco, L. Santamaria, M. Amutio, G. Lopez, M. Olazar
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In situ CO₂ capture in steam reforming processes has been studied in the last years as an alternative for increasing H₂ yields and H₂ purity in the product stream. For capturing the CO₂ at the reforming conditions, CaO-based sorbents are usually employed due to their properties at high temperature, low cost and high availability. However, the challenge is to develop high-capacity (gCO₂/gsorbent) materials that retain their capacity over cycles of operation. Besides, since the objective is to capture the CO₂ generated in situ, another key aspect is the sorption dynamics, which means that, in order to efficiently use the sorbent, it has to capture the CO₂ at a rate equal to or higher than the generation rate. In this work, different CaO-based materials have been prepared to aim at meeting these criteria. First, and by using the wet mixing method, different inert materials (Mg, Ce and Al) were combined with CaO. Second, and with the inert material selected (Mg), the effect of its concentration in the final material was studied. Transversally, the calcination temperature was also evaluated. It was determined that the wet mixing method is a simple procedure suitable for the preparation of CaO sorbents mixed with inert materials. The materials prepared by mixing the CaO with Mg have shown satisfactory anti-sintering properties and adequate sorption kinetics for their application in steam reforming processes. Regarding the concentration of Mg in the solid, it was concluded that high values contribute to the stability but at the expense of losing sorption capacity. Finally, it was observed that high calcination temperatures negatively affected the sorption properties of the final materials due to the decrease in the pore volume and the specific surface area.Keywords: calcination temperature effect, CO₂ capture, Mg-Ce-Al stabilizers, Mg varying concentration effect, Sorbent stabilization
Procedia PDF Downloads 797001 Development and Performance Analysis of Multifunctional City Smart Card System
Authors: Vedat Coskun, Fahri Soylemezgiller, Busra Ozdenizci, Kerem Ok
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In recent years, several smart card solutions for transportation services of cities with different technical infrastructures and business models has emerged considerably, which triggers new business and technical opportunities. In order to create a unique system, we present a novel, promising system called Multifunctional City Smart Card System to be used in all cities that provides transportation and loyalty services based on the MasterCard M/Chip Advance standards. The proposed system provides a unique solution for transportation services of large cities over the world, aiming to answer all transportation needs of citizens. In this paper, development of the Multifunctional City Smart Card System and system requirements are briefly described. Moreover, performance analysis results of M/Chip Advance Compatible Validators which is the system's most important component are presented.Keywords: smart card, m/chip advance standard, city transportation, performance analysis
Procedia PDF Downloads 4757000 Fight against Money Laundering with Optical Character Recognition
Authors: Saikiran Subbagari, Avinash Malladhi
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Anti Money Laundering (AML) regulations are designed to prevent money laundering and terrorist financing activities worldwide. Financial institutions around the world are legally obligated to identify, assess and mitigate the risks associated with money laundering and report any suspicious transactions to governing authorities. With increasing volumes of data to analyze, financial institutions seek to automate their AML processes. In the rise of financial crimes, optical character recognition (OCR), in combination with machine learning (ML) algorithms, serves as a crucial tool for automating AML processes by extracting the data from documents and identifying suspicious transactions. In this paper, we examine the utilization of OCR for AML and delve into various OCR techniques employed in AML processes. These techniques encompass template-based, feature-based, neural network-based, natural language processing (NLP), hidden markov models (HMMs), conditional random fields (CRFs), binarizations, pattern matching and stroke width transform (SWT). We evaluate each technique, discussing their strengths and constraints. Also, we emphasize on how OCR can improve the accuracy of customer identity verification by comparing the extracted text with the office of foreign assets control (OFAC) watchlist. We will also discuss how OCR helps to overcome language barriers in AML compliance. We also address the implementation challenges that OCR-based AML systems may face and offer recommendations for financial institutions based on the data from previous research studies, which illustrate the effectiveness of OCR-based AML.Keywords: anti-money laundering, compliance, financial crimes, fraud detection, machine learning, optical character recognition
Procedia PDF Downloads 1446999 “It Isn’t a State Problem”: The Minas Conga Mine Controversy and Exemplifying the Need for Binding International Obligations on Corporate Actors
Authors: Cindy Woods
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After years of implacable neoliberal globalization, multinational corporations have moved from the periphery to the center of the international legal agenda. Human rights advocates have long called for greater corporate accountability in the international arena. The creation of the Global Compact in 2000, while aimed at fostering greater corporate respect for human rights, did not silence these calls. After multiple unsuccessful attempts to adopt a set of norms relating to the human rights responsibilities of transnational corporations, the United Nations succeeded in 2008 with the Guiding Principles on Business and Human Rights (Guiding Principles). The Guiding Principles, praised by some within the international human rights community for their recognition of an individual corporate responsibility to respect human rights, have not escaped their share of criticism. Many view the Guiding Principles to be toothless, failing to directly impose obligations upon corporations, and call for binding international obligations on corporate entities. After decades of attempting to promulgate human rights obligations for multinational corporations, the existing legal frameworks in place fall short of protecting individuals from the human rights abuses of multinational corporations. The Global Compact and Guiding Principles are proof of the United Nations’ unwillingness to impose international legal obligations on corporate actors. In June 2014, the Human Rights Council adopted a resolution to draft international legally binding human rights norms for business entities; however, key players in the international arena have already announced they will not cooperate with such efforts. This Note, through an overview of the existing corporate accountability frameworks and a study of Newmont Mining’s Minas Conga project in Peru, argues that binding international human rights obligations on corporations are necessary to fully protect human rights. Where states refuse to or simply cannot uphold their duty to protect individuals from transnational businesses’ human rights transgressions, there must exist mechanisms to pursue justice directly against the multinational corporation.Keywords: business and human rights, Latin America, international treaty on business and human rights, mining, human rights
Procedia PDF Downloads 4996998 Considering Aerosol Processes in Nuclear Transport Package Containment Safety Cases
Authors: Andrew Cummings, Rhianne Boag, Sarah Bryson, Gordon Turner
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Packages designed for transport of radioactive material must satisfy rigorous safety regulations specified by the International Atomic Energy Agency (IAEA). Higher Activity Waste (HAW) transport packages have to maintain containment of their contents during normal and accident conditions of transport (NCT and ACT). To ensure containment criteria is satisfied these packages are required to be leak-tight in all transport conditions to meet allowable activity release rates. Package design safety reports are the safety cases that provide the claims, evidence and arguments to demonstrate that packages meet the regulations and once approved by the competent authority (in the UK this is the Office for Nuclear Regulation) a licence to transport radioactive material is issued for the package(s). The standard approach to demonstrating containment in the RWM transport safety case is set out in BS EN ISO 12807. In this document a method for measuring a leak rate from the package is explained by way of a small interspace test volume situated between two O-ring seals on the underside of the package lid. The interspace volume is pressurised and a pressure drop measured. A small interspace test volume makes the method more sensitive enabling the measurement of smaller leak rates. By ascertaining the activity of the contents, identifying a releasable fraction of material and by treating that fraction of material as a gas, allowable leak rates for NCT and ACT are calculated. The adherence to basic safety principles in ISO12807 is very pessimistic and current practice in the demonstration of transport safety, which is accepted by the UK regulator. It is UK government policy that management of HAW will be through geological disposal. It is proposed that the intermediate level waste be transported to the geological disposal facility (GDF) in large cuboid packages. This poses a challenge for containment demonstration because such packages will have long seals and therefore large interspace test volumes. There is also uncertainty on the releasable fraction of material within the package ullage space. This is because the waste may be in many different forms which makes it difficult to define the fraction of material released by the waste package. Additionally because of the large interspace test volume, measuring the calculated leak rates may not be achievable. For this reason a justification for a lower releasable fraction of material is sought. This paper considers the use of aerosol processes to reduce the releasable fraction for both NCT and ACT. It reviews the basic coagulation and removal processes and applies the dynamic aerosol balance equation. The proposed solution includes only the most well understood physical processes namely; Brownian coagulation and gravitational settling. Other processes have been eliminated either on the basis that they would serve to reduce the release to the environment further (pessimistically in keeping with the essence of nuclear transport safety cases) or that they are not credible in the conditions of transport considered.Keywords: aerosol processes, Brownian coagulation, gravitational settling, transport regulations
Procedia PDF Downloads 1166997 A Global Organizational Theory for the 21st Century
Authors: Troy A. Tyre
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Organizational behavior and organizational change are elements of the ever-changing global business environment. Leadership and organizational behavior are 21st century disciplines. Network marketing organizations need to understand the ever-changing nature of global business and be ready and willing to adapt to the environment. Network marketing organizations have a challenge keeping up with a rapid escalation in global growth. Network marketing growth has been steady and global. Network marketing organizations have been slow to develop a 21st century global strategy to manage the rapid escalation of growth degrading organizational behavior, job satisfaction, increasing attrition, and degrading customer service. Development of an organizational behavior and leadership theory for the 21st century to help network marketing develops a global business strategy to manage the rapid escalation in growth that affects organizational behavior. Managing growth means organizational leadership must develop and adapt to the organizational environment. Growth comes with an open mind and one’s departure from the comfort zone. Leadership growth operates in the tacit dimension. Systems thinking and adaptation of mental models can help shift organizational behavior. Shifting the organizational behavior requires organizational learning. Organizational learning occurs through single-loop, double-loop, and triple-loop learning. Triple-loop learning is the most difficult, but the most rewarding. Tools such as theory U can aid in developing a landscape for organizational behavioral development. Additionally, awareness to espoused and portrayed actions is imperatives. Theories of motivation, cross-cultural diversity, and communications are instrumental in founding an organizational behavior suited for the 21st century.Keywords: global, leadership, network marketing, organizational behavior
Procedia PDF Downloads 5526996 Packaging Processes for the Implantable Medical Microelectronics
Authors: Chung-Yu Wu, Chia-Chi Chang, Wei-Ming Chen, Pu-Wei Wu, Shih-Fan Chen, Po-Chun Chen
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Electrostimulation medical devices for neural diseases require electroactive and biocompatible materials to transmit signals from electrodes to targeting tissues. Protection of surrounding tissues has become a great challenge for long-term implants. In this study, we designed back-end processes with compatible, efficient, and reliable advantages over the current state-of-the-art. We explored a hermetic packaging process with high quality of adhesion and uniformity as the biocompatible devices for long-term implantation. This approach is able to provide both excellent biocompatibility and protection to the biomedical electronic devices by performing conformal coating of biocompatible materials. We successfully developed a packaging process that is capable of exposing the stimulating electrode and cover all other faces of chip with high quality of protection to prevent leakage of devices and body fluid.Keywords: biocompatible package, medical microelectronics, surface coating, long-term implantation
Procedia PDF Downloads 5226995 Approach to Establish Logistics as a Central Scientific Discipline of Tomorrow's Industry
Authors: Johannes Dregger, Michael Schmidt, Christian Prasse, Michael ten Hompel
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Most of the today’s companies face increasing need to operate efficiently. Driven by global trends like shorter product cycles, mass customization and the rising speed of delivery, manufacturing value chains are becoming more and more distributed. Manufacturing processes are becoming highly integrated, e.g. 3D printing. All these changes are affecting companies´ organization. They are leading towards individual, small scale, and ad-hoc logistics processes and structures, and finally, towards a significant increase in the importance of logistics itself since traditional value chains transform into agile value networks. In the past logistics has been following manufacturing but in the future industry, this role allocation might change. With this increase in the logistics practice of companies and businesses, the relevance of logistics research as the methodological foundation of logistics networks and processes is gaining importance. Logistics research is evolving into a central and highly interdisciplinary science for the future industry. Using the example of Germany, this paper discusses ways to establish logistics as a central scientific discipline of the future industry. About three million people work in the logistics sector in Germany. Only automotive and retail industry have more employees. Even though there is a bunch of logistics degree programs at more than 100 institutions of higher education, a common understanding of logistics as a research discipline is missing. In this paper an innovative approach will be presented, including; identified perspectives on logistics, such as process orientation, IT orientation or employees orientation, relevant scientific disciplines for logistics science, a concept for interdisciplinary research approaches to unify the perspectives of the different scientific disciplines on logistics and the methodological base of logistics science.Keywords: logistics, logistics science, logistics management, future challenges
Procedia PDF Downloads 3136994 Assessment of Mountain Hydrological Processes in the Gumera Catchment, Ethiopia
Authors: Tewele Gebretsadkan Haile
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Mountain terrains are essential to regional water resources by regulating hydrological processes that use downstream water supplies. Nevertheless, limited observed earth data in complex topography poses challenges for water resources regulation. That's why satellite product is implemented in this study. This study evaluates hydrological processes on mountain catchment of Gumera, Ethiopia using HBV-light model with satellite precipitation products (CHIRPS) for the temporal scale of 1996 to 2010 and area coverage of 1289 km2. The catchment is characterized by cultivation dominant and elevation ranges from 1788 to 3606 m above sea level. Three meteorological stations have been used for downscaling of the satellite data and one stream flow for calibration and validation. The result shows total annual water balance showed that precipitation 1410 mm, simulated 828 mm surface runoff compared to 1042 mm observed stream flow with actual evapotranspiration estimate 586mm and 1495mm potential evapotranspiration. The temperature range is 9°C in winter to 21°C. The catchment contributes 74% as quack runoff to the total runoff and 26% as lower groundwater storage, which sustains stream flow during low periods. The model uncertainty was measured using different metrics such as coefficient of determination, model efficiency, efficiency for log(Q) and flow weighted efficiency 0.76, 0.74, 0.66 and 0.70 respectively. The research result highlights that HBV model captures the mountain hydrology simulation and the result indicates quack runoff due to the traditional agricultural system, slope factor of the topography and adaptation measure for water resource management is recommended.Keywords: mountain hydrology, CHIRPS, Gumera, HBV model
Procedia PDF Downloads 96993 Quantification of the Gumera Catchment's Mountain Hydrological Processes in Ethiopia
Authors: Tewele Gebretsadkan Haile
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Mountain terrains are essential to regional water resources by regulating hydrological processes that use downstream water supplies. Nevertheless, limited observed earth data in complex topography poses challenges for water resources regulation. That's why satellite product is implemented in this study. This study evaluates hydrological processes on mountain catchment of Gumera, Ethiopia using HBV-light model with satellite precipitation products (CHIRPS) for the temporal scale of 1996 to 2010 and area coverage of 1289 km2. The catchment is characterized by cultivation dominant and elevation ranges from 1788 to 3606 m above sea level. Three meteorological stations have been used for downscaling of the satellite data and one stream flow for calibration and validation. The result shows total annual water balance showed that precipitation 1410 mm, simulated 828 mm surface runoff compared to 1042 mm observed stream flow with actual evapotranspiration estimate 586mm and 1495mm potential evapotranspiration. The temperature range is 9°C in winter to 21°C. The catchment contributes 74% as quack runoff to the total runoff and 26% as lower groundwater storage, which sustains stream flow during low periods. The model uncertainty was measured using different metrics such as coefficient of determination, model efficiency, efficiency for log(Q) and flow weighted efficiency 0.76, 0.74, 0.66 and 0.70 respectively. The research result highlights that HBV model captures the mountain hydrology simulation and the result indicates quack runoff due to the traditional agricultural system, slope factor of the topography and adaptation measure for water resource management is recommended.Keywords: mountain hydrology, CHIRPS, HBV model, Gumera
Procedia PDF Downloads 76992 Labour Productivity Measurement and Control Standards for Hotels
Authors: Kristine Joy Simpao
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Improving labour productivity is one of the most enthralling and challenging aspects of managing hotels and restaurant business. The demand to secure countless productivity became an increasingly pivotal role of managers to survive and sustain the business. Besides making business profitable, they are in the doom to make every resource to become productive and effective towards achieving company goal while maximizing the value of organization. This paper examines what productivity means to the services industry, in particular, to the hotel industry. This is underpinned by an investigation of the extent of practice of respondent hotels to the labour productivity aspect in the areas of materials management, human resource management and leadership management and in a way, computing the labour productivity ratios using the hotel simple ratios of productivity in order to find a suitable measurement and control standards for hotels with SBMA, Olongapo City as the locale of the study. The finding shows that hotels labour productivity ratings are not perfect with some practices that are far below particularly on strategic and operational decisions in improving performance and productivity of its human resources. It further proves of the no significant difference ratings among the respondent’s type in all areas which indicated that they are having similar perception of the weak implementation of some of the indicators in the labour productivity practices. Furthermore, the results in the computation of labour productivity efficiency ratios resulted relationship of employees versus labour productivity practices are inversely proportional. This study provides a potential measurement and control standards for the enhancement of hotels labour productivity. These standards should also contain labour productivity customized for standard hotels in Subic Bay Freeport Zone to assist hotel owners in increasing the labour productivity while meeting company goals and objectives effectively.Keywords: labour productivity, hotel, measurement and control, standards, efficiency ratios, practices
Procedia PDF Downloads 3156991 The Ambivalent Dealing with Diversity: An Ethnographic Study of Diversity and Its Different Faces of Managing in a Mixed Neighborhood in Germany
Authors: Nina Berding
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Migration and the ensuing diversity are integral parts of urban societies. However, engaging with the urban society and its diversification is rarely perceived as something trivial but rather as a difficult task and a major challenge. A central aspect of the discourse is the current migration of refugees from countries of the southern hemisphere to Europe and the resulting challenges for cities, their municipalities and the civil society as a whole. Based on exploratory field research in a German inner-city neighborhood, it is aimed to show that the discourses about migration and diversity are completely contrary to the everyday life actions of the urban society. Processes of migration that include leaving one’s hometown and moving to other places, searching for ‘safe’ environments or better opportunities are, historically speaking, not a new phenomenon. The urban dwellers have a large repertoire of strategies in managing processes of difference in everyday life situations, guided them well for centuries and also in these contemporary processes with an increased mobility and diversity. So there is obviously a considerable discrepancy between what is practically lived in everyday life, and how it is talked about. The results of the study demonstrate that the current discourse about the challenges of migration seems to legitimize interventions beyond humanist approaches where migrants serve as collective scapegoats for social problems and affected by different discrimination and criminalization processes. On the one hand, everyone takes advantage of the super-mobility and super-diversity in their daily lives and on the other hand, powerful stakeholders and designated authorities operate a sort of retro- nationalism and identity collectivism. Political players, the municipalities and other stakeholders then follow an urban public policy that takes actions (increasing police presence, concepts and activities for special groups, exclusion from active social life, preventing participation etc.) towards different ‘groups’ of residents, produced along ‘ethnic’ lines. The results also show that, despite the obstacles and adversities placed in their way, the excluded residents perpetually relocate and re-position themselves and attempt to empower themselves by redefining their identities in their neighborhood.Keywords: coexistence, everyday life, migration and diversity regimes, urban policy
Procedia PDF Downloads 2476990 Internet of Things as a Source of Opportunities for Entrepreneurs
Authors: Svetlana Gudkova
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The Internet of Things experiences a rapid growth bringing inevitable changes into many spheres of human activities. As the Internet has changed the social and business landscape, IoT as its extension, can bring much more profound changes in economic value creation and competitiveness of the economies. It has been already recognized as the next industrial revolution. However, the development of IoT is in a great extent stimulated by the entrepreneurial activity. To expand and reach its full potential it requires proactive entrepreneurs, who explore the potential and create innovative ideas pushing the boundaries of IoT technologies' application further. The goal of the research is to analyze, how entrepreneurs utilize the opportunities created by IoT and how do they stimulate the development of IoT through discovering of new ways of generating economic value and creating opportunities, which attract other entrepreneurs. The qualitative research methods have been applied to prepare the case studies. Entrepreneurs are recognized as an engine of economic growth. They introduce innovative products and services into the market through the creation of a new combination of the existing resources and utilizing new knowledge. Entrepreneurs not only create economic value but what is more important, they challenge the existing business models and invent new ways of value creation. Through identification and exploitation of entrepreneurial opportunities, they create new opportunities for other entrepreneurs. It makes the industry more attractive to other profit/innovation-driven start-ups. IoT creates numerous opportunities for entrepreneurs in the different industries. Smart cities, healthcare, manufacturing, retail, agriculture, smart vehicles and smart buildings benefit a lot from IoT-based breakthrough innovations introduced by entrepreneurs. They reinvented successfully the business models and created new entrepreneurial opportunities for other start-ups to introduce next innovations.Keywords: entrepreneurship, internet of things, breakthrough innovations, start-ups
Procedia PDF Downloads 1986989 Opportunities of an Industrial City in the Leisure Tourism
Authors: E. Happ, A. Albert Tóth
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The aim of the research is to investigate the forms of the demands of leisure tourism in a West-Hungarian industrial city, Győr. Today, Győr is still a traditional industrial city, its industry is mainly based on vehicle industry, but the role of tourism is increasing in the life of the city as well. Because of the industrial nature and the strong economy of the city, the ratio of business tourists is high. It can be stated that MICE tourism is dominating in Győr. Developments of the last decade can help the city with new tourism products to increase the leisure tourism. The new types of tourism – besides business tourism – can help the providers to increase the occupancy rates and the demand at the weekends. The research demonstrates the theoretical background of the topic, and it shows the present situation of the tourism in Győr with secondary data. The secondary research contains statistical data from the Hungarian Statistical Office and the city council, and it is based on the providers’ data. The next part of the paper shows the potential types of leisure tourism with the help of primary research. The primary research contains the results of an online questionnaire with a sample of 1000 potential customers. It is completed with 10 in-depth interviews with tourism experts, who explained their opinions about the opportunities of leisure tourism in Győr from the providers’ side. The online questionnaire was filled out in spring 2017 by customers, who have already stayed in Győr or plan to visit the city. At the same time in-depth interviews were made with hotel managers, head of touristic institutions and employees at the council. Based on the research it can be stated that the touristic supply of Győr allows the increase of the leisure tourism ratio in the city. Primarily, the cultural and health tourism show potential development, but the supply side of touristic services can be developed in order to increase the number of guest nights. The tourism marketing needs to be strengthened in the city, and a distinctive marketing activity - from other cities - is needed as well. To conclude, although Győr is an industrial city, it has a transforming industrial part, and tourism is also strongly present in its economy. Besides the leading role of business tourism, different types of leisure tourism have the opportunity to take place in the city.Keywords: business tourism, Győr, industrial city, leisure tourism, touristic demand
Procedia PDF Downloads 2786988 System of System Decisions Framework for Cross-Border Railway Projects
Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki, Anastasia Kalamakidou
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Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in the decision process and –many times- the investment and business risks are high. Decision makers and stakeholders need to define the framework and the outputs of the decision process taking into account the project characteristics, the business uncertainties, and the different expectations. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross-border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analysed. Adopting the on system of system methodological approach, the decision making the framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey, and Bulgaria.Keywords: system of system decision making, managing decisions for transport projects, decision support framework, defining decision process
Procedia PDF Downloads 3066987 Hardships Faced by Entrepreneurs in Marketing Projects for Acquiring Business Loans
Authors: Sudipto Sarkar
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Capital is the primary fuel for starting and running a business. Since capital is crucial for every business, entrepreneurs must successfully acquire adequate capital for executing their projects. Sources for the necessary capital for entrepreneurs include their own personal funds from existing bank accounts, or lines of credit or loans from banks or financial institutions, or equity funding from investors. The most commonly selected source of capital is a bank loan. However, acquiring a loan by any entrepreneur requires adhering to strict guidelines, conditions and norms. Because not only they have to show evidence for viability of the project, but also the means to return the acquired loan. On the bank’s part, it requires that every loan officer performs a thorough credit appraisal of the prospective borrowers and makes decisions about whether or not to lend money, how much to lend, and what conditions should be attached to it. Moreover, these credit decisions in general were often based on biases, analytical techniques, or prior experience. A loan can either turn out to be good or poor, irrespective of what type of credit decisions were followed. However, based on prior experience, the loan officers seem to differentiate between a good and a bad loan by examining the borrower’s credit history, pattern of borrowing, volume of borrowing, frequency of borrowing, and reasons for borrowing. As per an article written by Maureen Wallenfang on postcrescent.com dated May 10, 2010, it is observed that borrowers with good credit, solid business plans and adequate collateral security were able to procure loans very easily in the Fox Valley region. Since loans are required to run businesses, and also with the propensity of loans to become bad, loan officers tend to be very critical and cautious before approving and disbursing the loans. The pressure to be critical and cautious, at least partly, is a result of increased scrutiny by the Securities and Exchange Commission. As per Wall Street Journal (Sidel & Eaglesham, March, 3 2011, online), the Securities and Exchange Commission scrutinized banks that have restructured troubled loans in order to make them appear healthier than they really are. Therefore, loan officers’ loan criteria are of immense importance for entrepreneurs and banks alike.Keywords: entrepreneur, loans, marketing, banks
Procedia PDF Downloads 2566986 The Role of Knowledge Sharing in Market Response: The Case of Saman Bank of Iran
Authors: Fatemeh Torabi, Jamal El-Den, Narumon Sriratanviriyakul
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Perpetual changes in the workplace and daily business activities bring a need for imbedding organizational knowledge sharing within the organizations’ culture, routines and processes. Organizations should adapt to the changing in the environment in order to survive. Accordingly, the management should promote a knowledge sharing culture which might result in knowledge accumulation, hence better response to these changing environmental conditions. Researchers in the field of strategy and marketing stressed that employees’, as well as the overall performance of the organization, would improve as a result of implementing a knowledge-oriented culture. The research investigated the significant impact of knowledge sharing on market response and the competitiveness of organizations. A knowledge sharing framework was developed based on current literary frameworks with additional constructs such as employees’ learning commitments, experiences and prior knowledge. Linear regression was used to analyze the relationships among dependent and independent variables. The research’s results indicated strong positive correlation between the dependent and independent variables, especially in organizational market sharing. We anticipate that this correlation would improve organizational knowledge sharing related practices and the associated knowledge entities. The research posits the introduced framework could be a solid ground for further investigations on how some organizational factors would influence the organization’s response to the market as well as on competitiveness. Final results support all hypotheses. Finding of this research show that knowledge sharing intention had the significant and positive effect on market response and competitiveness of organizations.Keywords: knowledge management, knowledge sharing, market response, organizational competitiveness
Procedia PDF Downloads 2046985 Hydrothermal Liquefaction for Astaxanthin Extraction from Wet Algae
Authors: Spandana Ramisetty, Mandan Chidambaram, Ramesh Bhujade
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Algal biomass is not only a potential source for biocrude but also for high value chemicals like carotenoids, fatty acids, proteins, polysaccharides, vitamins etc. Astaxanthin is one such high value vital carotenoid which has extensive applications in pharmaceutical, aquaculture, poultry and cosmetic industries and expanding as dietary supplement to humans. Green microalgae Haematococcus pluvialis is identified as the richest natural source of astaxanthin and is the key source of commercial astaxanthin. Several extraction processes from wet and dry Haematococcus pluvialis biomass have been explored by researchers. Extraction with supercritical CO₂ and various physical disruption techniques like mortar and pestle, homogenization, ultrasonication and ball mill from dried algae are widely used extraction methods. However, these processes require energy intensive drying of biomass that escalates overall costs notably. From the process economics perspective, it is vital to utilize wet processing technology in order to eliminate drying costs. Hydrothermal liquefaction (HTL) is a thermo-chemical conversion process that converts wet biomass containing over 80% water to bio-products under high temperature and high pressure conditions. Astaxanthin is a lipid soluble pigment and is usually extracted along with lipid component. Mild HTL at 200°C and 60 bar has been demonstrated by researchers in a microfluidic platform achieving near complete extraction of astaxanthin from wet biomass. There is very limited work done in this field. An integrated approach of sequential HTL offers cost-effective option to extract astaxanthin/lipid from wet algal biomass without drying algae and also recovering water, minerals and nutrients. This paper reviews past work and evaluates the astaxanthin extraction processes with focus on hydrothermal extraction.Keywords: astaxanthin, extraction, high value chemicals, hydrothermal liquefaction
Procedia PDF Downloads 3056984 The Impact of Quality Cost on Revenue Sharing in Supply Chain Management
Authors: Fayza M. Obied-Allah
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Customer’ needs, quality, and value creation while reducing costs through supply chain management provides challenges and opportunities for companies and researchers. In the light of these challenges, modern ideas must contribute to counter these challenges and exploit opportunities. Perhaps this paper will be one of these contributions. This paper discusses the impact of the quality cost on revenue sharing as a most important incentive to configure business networks. No doubt that the costs directly affect the size of income generated by a business network, so this paper investigates the impact of quality costs on business networks revenue, and their impact on the decision to participate the revenue among the companies in the supply chain. This paper develops the quality cost approach to align with the modern era, the developed model includes five categories besides the well-known four categories (namely prevention costs, appraisal costs, internal failure costs, and external failure costs), a new category has been developed in this research as a new vision of the relationship between quality costs and innovations of industry. This new category is Recycle Cost. This paper is organized into six sections, Section I shows quality costs overview in the supply chain. Section II discusses revenue sharing between the parties in supply chain. Section III investigates the impact of quality costs in revenue sharing decision between partners in supply chain. The fourth section includes survey study and presents statistical results. Section V discusses the results and shows future opportunities for research. Finally, Section VI summarizes the theoretical and practical results of this paper.Keywords: quality cost, recycle cost, revenue sharing, supply chain management
Procedia PDF Downloads 4426983 Senior Entrepreneurship and the Takeover of Family Businesses: The Case of Moroccan Family-Owned Small Medium-Sized Enterprises
Authors: Brahim Ouzaka, Said Ouhadi
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Family businesses (FB) represent the oldest and most resilient form of organization. However, they are weakened by problems of entrepreneurial discontinuity. The objective of this paper is to analyze the problem of the succession of FBs created by senior entrepreneurs. This study analyzes and explores the constructs of senior entrepreneurship and the strategy and takeover policies of the Moroccan Family owned Small and Medium-Sized Businesses. Our main research question is formulated as follows: how does senior entrepreneurship promote the takeover of Moroccan family SMEs? So we aim through this study to analyze the challenge of the takeover of the FB created by senior entrepreneurs in order to explore and understand the specificities, choices and strategies as well as the reality of the takeover process among this category of senior entrepreneurs. After a review of the literature on the relationship between the constructs of senior entrepreneurship and the takeover of FBs, the empirical study will consist of an exploratory qualitative approach of 3 family SMEs created by senior entrepreneurs and subsequently transmitted to their descendants. This qualitative research serves to explore the choices, the strategies as well as the specificities of the entrepreneurial acts and processes of this category of entrepreneurs. The interviews were conducted with senior entrepreneurs and successors of three Moroccan family SMEs, focusing on the specificity of entrepreneurial actions and strategies in the case of SMEs launched by senior entrepreneurs and on the reality of the conduct and preparation of the takeover process, the methods of socialization and training of buyers in the context of these companies.Keywords: senior entrepreneurship, family SME, family business, takeover
Procedia PDF Downloads 856982 Developing an Exhaustive and Objective Definition of Social Enterprise through Computer Aided Text Analysis
Authors: Deepika Verma, Runa Sarkar
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One of the prominent debates in the social entrepreneurship literature has been to establish whether entrepreneurial work for social well-being by for-profit organizations can be classified as social entrepreneurship or not. Of late, the scholarship has reached a consensus. It concludes that there seems little sense in confining social entrepreneurship to just non-profit organizations. Boosted by this research, increasingly a lot of businesses engaged in filling the social infrastructure gaps in developing countries are calling themselves social enterprise. These organizations are diverse in their ownership, size, objectives, operations and business models. The lack of a comprehensive definition of social enterprise leads to three issues. Firstly, researchers may face difficulty in creating a database for social enterprises because the choice of an entity as a social enterprise becomes subjective or based on some pre-defined parameters by the researcher which is not replicable. Secondly, practitioners who use ‘social enterprise’ in their vision/mission statement(s) may find it difficult to adjust their business models accordingly especially during the times when they face the dilemma of choosing social well-being over business viability. Thirdly, social enterprise and social entrepreneurship attract a lot of donor funding and venture capital. In the paucity of a comprehensive definitional guide, the donors or investors may find assigning grants and investments difficult. It becomes necessary to develop an exhaustive and objective definition of social enterprise and examine whether the understanding of the academicians and practitioners about social enterprise match. This paper develops a dictionary of words often associated with social enterprise or (and) social entrepreneurship. It further compares two lexicographic definitions of social enterprise imputed from the abstracts of academic journal papers and trade publications extracted from the EBSCO database using the ‘tm’ package in R software.Keywords: EBSCO database, lexicographic definition, social enterprise, text mining
Procedia PDF Downloads 3936981 Formalizing a Procedure for Generating Uncertain Resource Availability Assumptions Based on Real Time Logistic Data Capturing with Auto-ID Systems for Reactive Scheduling
Authors: Lars Laußat, Manfred Helmus, Kamil Szczesny, Markus König
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As one result of the project “Reactive Construction Project Scheduling using Real Time Construction Logistic Data and Simulation”, a procedure for using data about uncertain resource availability assumptions in reactive scheduling processes has been developed. Prediction data about resource availability is generated in a formalized way using real-time monitoring data e.g. from auto-ID systems on the construction site and in the supply chains. The paper focuses on the formalization of the procedure for monitoring construction logistic processes, for the detection of disturbance and for generating of new and uncertain scheduling assumptions for the reactive resource constrained simulation procedure that is and will be further described in other papers.Keywords: auto-ID, construction logistic, fuzzy, monitoring, RFID, scheduling
Procedia PDF Downloads 5126980 Welding Process Selection for Storage Tank by Integrated Data Envelopment Analysis and Fuzzy Credibility Constrained Programming Approach
Authors: Rahmad Wisnu Wardana, Eakachai Warinsiriruk, Sutep Joy-A-Ka
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Selecting the most suitable welding process usually depends on experiences or common application in similar companies. However, this approach generally ignores many criteria that can be affecting the suitable welding process selection. Therefore, knowledge automation through knowledge-based systems will significantly improve the decision-making process. The aims of this research propose integrated data envelopment analysis (DEA) and fuzzy credibility constrained programming approach for identifying the best welding process for stainless steel storage tank in the food and beverage industry. The proposed approach uses fuzzy concept and credibility measure to deal with uncertain data from experts' judgment. Furthermore, 12 parameters are used to determine the most appropriate welding processes among six competitive welding processes.Keywords: welding process selection, data envelopment analysis, fuzzy credibility constrained programming, storage tank
Procedia PDF Downloads 1666979 Microstructure Evolution and Modelling of Shear Forming
Authors: Karla D. Vazquez-Valdez, Bradley P. Wynne
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In the last decades manufacturing needs have been changing, leading to the study of manufacturing methods that were underdeveloped, such as incremental forming processes like shear forming. These processes use rotating tools in constant local contact with the workpiece, which is often also rotating, to generate shape. This means much lower loads to forge large parts and no need for expensive special tooling. Potential has already been established by demonstrating manufacture of high-value products, e.g., turbine and satellite parts, with high dimensional accuracy from difficult to manufacture materials. Thus, huge opportunities exist for these processes to replace the current method of manufacture for a range of high value components, e.g., eliminating lengthy machining, reducing material waste and process times; or the manufacture of a complicated shape without the development of expensive tooling. However, little is known about the exact deformation conditions during processing and why certain materials are better than others for shear forming, leading to a lot of trial and error before production. Three alloys were used for this study: Ti-54M, Jethete M154, and IN718. General Microscopy and Electron Backscatter Diffraction (EBSD) were used to measure strains and orientation maps during shear forming. A Design of Experiments (DOE) analysis was also made in order to understand the impact of process parameters in the properties of the final workpieces. Such information was the key to develop a reliable Finite Element Method (FEM) model that closely resembles the deformation paths of this process. Finally, the potential of these three materials to be shear spun was studied using the FEM model and their Forming Limit Diagram (FLD) which led to the development of a rough methodology for testing the shear spinnability of various metals.Keywords: shear forming, damage, principal strains, forming limit diagram
Procedia PDF Downloads 1626978 Automated Buffer Box Assembly Cell Concept for the Canadian Used Fuel Packing Plant
Authors: Dimitrie Marinceu, Alan Murchison
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The Canadian Used Fuel Container (UFC) is a mid-size hemispherical headed copper coated steel container measuring 2.5 meters in length and 0.5 meters in diameter containing 48 used fuel bundles. The contained used fuel produces significant gamma radiation requiring automated assembly processes to complete the assembly. The design throughput of 2,500 UFCs per year places constraints on equipment and hot cell design for repeatability, speed of processing, robustness and recovery from upset conditions. After UFC assembly, the UFC is inserted into a Buffer Box (BB). The BB is made from adequately pre-shaped blocks (lower and upper block) and Highly Compacted Bentonite (HCB) material. The blocks are practically ‘sandwiching’ the UFC between them after assembly. This paper identifies one possible approach for the BB automatic assembly cell and processes. Automation of the BB assembly will have a significant positive impact on nuclear safety, quality, productivity, and reliability.Keywords: used fuel packing plant, automatic assembly cell, used fuel container, buffer box, deep geological repository
Procedia PDF Downloads 2736977 Change of Education Business in the Age of 5G
Authors: Heikki Ruohomaa, Vesa Salminen
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Regions are facing huge competition to attract companies, businesses, inhabitants, students, etc. This way to improve living and business environment, which is rapidly changing due to digitalization. On the other hand, from the industry's point of view, the availability of a skilled labor force and an innovative environment are crucial factors. In this context, qualified staff has been seen to utilize the opportunities of digitalization and respond to the needs of future skills. World Manufacturing Forum has stated in the year 2019- report that in next five years, 40% of workers have to change their core competencies. Through digital transformation, new technologies like cloud, mobile, big data, 5G- infrastructure, platform- technology, data- analysis, and social networks with increasing intelligence and automation, enterprises can capitalize on new opportunities and optimize existing operations to achieve significant business improvement. Digitalization will be an important part of the everyday life of citizens and present in the working day of the average citizen and employee in the future. For that reason, the education system and education programs on all levels of education from diaper age to doctorate have been directed to fulfill this ecosystem strategy. Goal: The Fourth Industrial Revolution will bring unprecedented change to societies, education organizations and business environments. This article aims to identify how education, education content, the way education has proceeded, and overall whole the education business is changing. Most important is how we should respond to this inevitable co- evolution. Methodology: The study aims to verify how the learning process is boosted by new digital content, new learning software and tools, and customer-oriented learning environments. The change of education programs and individual education modules can be supported by applied research projects. You can use them in making proof- of- the concept of new technology, new ways to teach and train, and through the experiences gathered change education content, way to educate and finally education business as a whole. Major findings: Applied research projects can prove the concept- phases on real environment field labs to test technology opportunities and new tools for training purposes. Customer-oriented applied research projects are also excellent for students to make assignments and use new knowledge and content and teachers to test new tools and create new ways to educate. New content and problem-based learning are used in future education modules. This article introduces some case study experiences on customer-oriented digital transformation projects and how gathered knowledge on new digital content and a new way to educate has influenced education. The case study is related to experiences of research projects, customer-oriented field labs/learning environments and education programs of Häme University of Applied Sciences.Keywords: education process, digitalization content, digital tools for education, learning environments, transdisciplinary co-operation
Procedia PDF Downloads 1766976 Carbohydrate-Based Recommendations as a Basis for Dietary Guidelines
Authors: A. E. Buyken, D. J. Mela, P. Dussort, I. T. Johnson, I. A. Macdonald, A. Piekarz, J. D. Stowell, F. Brouns
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Recently a number of renewed dietary guidelines have been published by various health authorities. The aim of the present work was 1) to review the processes (systematic approach/review, inclusion of public consultation) and methodological approaches used to identify and select the underpinning evidence base for the established recommendations for total carbohydrate (CHO), fiber and sugar consumption, and 2) examine how differences in the methods and processes applied may have influenced the final recommendations. A search of WHO, US, Canada, Australia and European sources identified 13 authoritative dietary guidelines with the desired detailed information. Each of these guidelines was evaluated for its scientific basis (types and grading of the evidence) and the processes by which the guidelines were developed Based on the data retrieved the following conclusions can be drawn: 1) Generally, a relatively high total CHO and fiber intake and limited intake of sugars (added or free) is recommended. 2) Even where recommendations are quite similar, the specific, justifications for quantitative/qualitative recommendations differ across authorities. 3) Differences appear to be due to inconsistencies in underlying definitions of CHO exposure and in the concurrent appraisal of CHO-providing foods and nutrients as well the choice and number of health outcomes selected for the evidence appraisal. 4) Differences in the selected articles, time frames or data aggregation method appeared to be of rather minor influence. From this assessment, the main recommendations are for: 1) more explicit quantitative justifications for numerical guidelines and communication of uncertainty; and 2) greater international harmonization, particularly with regard to underlying definitions of exposures and range of relevant nutrition-related outcomes.Keywords: carbohydrates, dietary fibres, dietary guidelines, recommendations, sugars
Procedia PDF Downloads 2576975 How to Improve Teaching and Learning Strategies Through Educational Research. An Experience of Peer Observation in Legal Education
Authors: Luigina Mortari, Alessia Bevilacqua, Roberta Silva
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The experience presented in this paper aims to understand how educational research can support the introduction and optimization of teaching innovations in legal education. In this increasingly complex context, a strong need to introduce paths aimed at acquiring not only professional knowledge and skills but also transversal such as reflective, critical, and problem-solving skills emerges. Through a peer observation intertwined with an analysis of discursive practices, researchers and the teacher worked together through a process of participatory and transformative accompaniment whose objective was to promote the active participation and engagement of students in learning processes, an element indispensable to work in the more specific direction of strengthening key competences. This reflective faculty development path led the teacher to activate metacognitive processes, becoming thus aware of the strengths and areas of improvement of his teaching innovation.Keywords: legal education, teaching innovation, peer observation, discursive analysis, faculty development
Procedia PDF Downloads 1656974 Exploring Teledermatology in Selected Dermatology Clinics in San Fernando City, La Union
Authors: Everdeanne Javier, Kelvin Louie Abat, Alodia Rizzalynn Cabaya, Chynna Allyson Manzano, Vlasta Sai Espiritu, Raniah May Puzon, Michelle Tobler
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Teledermatology is becoming a more popular form of providing dermatologic healthcare worldwide, and it will almost certainly play a larger role in the future. As the current pandemic continues to worsen, Teledermatology is seen as the primary alternative to face-to-face dermatology consultation; therefore, it needs to be enhanced and developed to become as convenient and reliable as it can be for both patients and doctors. This research paper seeks to know the processes used in teledermatology regarding delivery modalities and proper consultation. This study's research design is a Qualitative Descriptive approach to describe further the processes used by teledermatologists. An online survey questionnaire was used to collect data from Teledermatology Clinics in San Fernando City, La Union. Research showed that patients tend to embrace and be pleased with teledermatology as a way of accessing healthcare. On the other hand, clinicians have usually reported positive outcomes from teledermatology. Furthermore, it is not intended to be used instead of a face-to-face appointment with a dermatologist.Keywords: teledermatology, online dermatology consultation, dermatology, dermatologist
Procedia PDF Downloads 265