Search results for: company valuation

Authors: Sonja Goegele, Petra Kletzenbauer

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The FH JOANNEUM- a university of applied sciences based in Austria - cooperates in teaching and research with well-known international universities and thus aims to foster so-called strategic partnerships. The exchange of university lecturers and other faculty members is a way to achieve and secure strategic company goals, in which excellent research and teaching play a central role in order to improve both the development of academics and administration. Thanks to mobility not only the university but also the involved people truly benefit in their professional development which can be seen on several levels: increased foreign language proficiency, excellent networking possibilities within the scientific community as well as reinforced didactic competencies in the form of different teaching and learning methodologies. The paper discusses mobility in the light of the university’s strategic paper entitled ‘Hands on 2022’ by presenting results from an empirical research study among faculty members who participate in exchange programmes on a regular basis. In the form of an online questionnaire, mobility was discussed from different angles such as networking, collaborative research, professional training for academics and the overall impact of the exchange within and outside the organization. From the findings, it can be concluded that mobility is an asset for any university. However, keeping in constant dialogue with partner universities requires more than the purpose of the exchange itself. Building rapport and keeping a relationship of trust are challenges that need to be addressed more closely in order to run successful mobility programmes. Best Practice examples should highlight the importance of mobility as a vital initiative to transfer disciplines.

Keywords: higher education, internationalization, mobility, strategic partnerships

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Authors: Bright Kwakye-Awuah, Elizabeth Von-Kiti, Isaac Nkrumah, Baah Sefa-Ntiri, Craig D. Williams

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Bauxite and kaolin from Ghana Bauxite Company mine site were used to synthesize zeolites. Bauxite served as the alumina source and kaolin the silica source. Synthesis variations include variation of aging time at constant crystallization time and variation of crystallization times at constant aging time. Characterization techniques such as X-ray diffraction (XRD), scanning electron microscopy (SEM), energy dispersive x-ray analysis (EDX) and Fourier transform infrared spectroscopy (FTIR) were employed in the characterization of the raw samples as well as the synthesized samples. The results obtained showed that the transformations that occurred and the phase of the resulting products were coordinated by the aging time, crystallization time, alkaline concentration and Si/Al ratio of the system. Zeolites A, X, Y, analcime, Sodalite, and ZK-14 were some of the phases achieved. Zeolite LTA was achieved with short crystallization times of 3, 5, 18 and 24 hours and a maximum aging of 24 hours. Zeolite LSX was synthesized with 24 hr aging followed with 24 hr hydrothermal treatment whilst zeolite Y crystallized after 48 hr of aging and 24 hr crystallization. Prolonged crystallization time produced a mixed phased product. Prolonged aging times, on the other hand, did not yield any zeolite as the sample was amorphous. Increasing the alkaline content of the reaction mixture above 5M introduced sodalite phase in the final product. The properties of the final products were comparable to zeolites synthesized from pure chemical reagents.

Keywords: bauxite, kaolin, aging, crystallization, zeolites

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Authors: Kiyohiro Yamazaki

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This paper considers a forming process of a single competitive factor in the digital camera industry from the viewpoint of product platform. To make product development easier for companies and to increase product introduction ratios, development efforts concentrate on improving and strengthening certain product attributes, and it is born in the process that the product platform is formed continuously. It is pointed out that the formation of this product platform raises product development efficiency of individual companies, but on the other hand, it has a trade-off relationship of causing unification of competitive factors in the whole industry. This research tries to analyze product specification data which were collected from the web page of digital camera companies. Specifically, this research collected all product specification data released in Japan from 1995 to 2003 and analyzed the composition of image sensor and optical lens; and it identified product platforms shared by multiple products and discussed their application. As a result, this research found that the product platformation was born in the development of the standard product for major market segmentation. Every major company has made product platforms of image sensors and optical lenses, and as a result, this research found that the competitive factors were unified in the entire industry throughout product platformation. In other words, this product platformation brought product development efficiency of individual firms; however, it also caused industrial competition factors to be unified in the industry.

Keywords: digital camera industry, product evolution trajectory, product platform, unification of competitive factors

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Authors: Alina Hamid Bari

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Intellectual Property (IP) policies of a country have a huge impact on the pharmaceutical industry as this industry is all about patents. Developed countries have used IP protection to boost their economy; developing countries are concerned about access to medicine for poor people. U.S. company, Pfizer had a monopoly for 14 years for Lipitor and it all came to end when Pfizer decided to operate in India. This research will focus at the effects of Indian IP policies on USA by comparing Pfizer & Ranbaxy with regards to Trade Related Aspects of Intellectual Property Rights. For this research inductive approach has been used. Main source of material is Annual reports, theory based on academic books and articles along with rulings of court, policy statements and decisions, websites and newspaper articles. SWOT analysis is done for both Pfizer & Ranbaxy. The main comparison was done by doing ratio analysis and analyses of annual reports for the year 2011-2012 for Pfizer and Ranbaxy to see the impact on their profitability. This research concludes that Indian intellectual laws do affect the profitability of the U.S. pharmaceutical industry which can in turn have an impact on the US economy. These days India is only granting patents on products which it feels are deserving of it. So the U.S. companies operating in India have to defend their invention to get a patent. Thus, to operate in India and maintain monopoly in market, US firms have to come up with different strategies.

Keywords: atorvastatin, India, intellectual property, lipitor, Pfizer, pharmaceutical industry, Ranbaxy, TRIPs, U.S.

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Authors: Lyton Chithambo

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This paper reports the results of an investigation into the extent to which various stakeholder pressures influence voluntary disclosure of greenhouse-gas (GHG) emissions in the United Kingdom (UK). The study, which is grounded on institutional theory, also borrows from the insights of upper echelons theory and examines whether specific managerial (chief executive officer) characteristics explain and moderates various stakeholder pressures in explaining GHG voluntary disclosure. Data were obtained from the 2011 annual and sustainability reports of a sample of 216 UK companies on the FTSE350 index listed on the London Stock Exchange. Generally the results suggest that there is no substantial shareholder and employee pressure on a firm to disclose GHG information but there is significant positive pressure from the market status of a firm with those firms with more market share disclosing more GHG information. Consistent with the predictions of institutional theory, we found evidence that coercive pressure i.e. regulatory pressure and mimetic pressures emanating in some industries notably industrials and consumer services have a significant positive influence on firms’ GHG disclosure decisions. Besides, creditor pressure also had a significant negative relationship with GHG disclosure. While CEO age had a direct negative effect on GHG voluntary disclosure, its moderation effect on stakeholder pressure influence on GHG disclosure was only significant on regulatory pressure. The results have important implications for both policy makers and company boards strategizing to reign in their GHG emissions.

Keywords: greenhouse gases, voluntary disclosure, upper echelons theory, institution theory

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Authors: Xue Junwei

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The rapid economic development of China has made it a critical global market. Multinational companies operating in China face evolving challenges, necessitating adjustments in their marketing strategies. This study uses SWOT analysis and qualitative research methods to explore the trends and countermeasures for adjusting the marketing strategies of multinational companies in China. The research employs the SWOT analysis, quantitative as well as qualitative research techniques to investigate the marketing strategy adjustments of multinational companies in China. The study reveals emerging trends and proposes strategic countermeasures for multinational companies to adapt their marketing strategies in the Chinese market. This research contributes to the existing literature by providing insights into the dynamic environment of multinational companies in China and offering practical recommendations for strategy adjustments. Data were collected using qualitative research methods, including interviews and case studies, and quantitative research methods, such as questionnaires to study multinational companies in China. The collected data were analyzed using SWOT analysis to identify the strengths, weaknesses, opportunities, and threats faced by multinational companies in China, guiding the formulation of effective marketing strategies. This study addresses the challenges faced by multinational companies in China, the need for strategic adjustments, and the potential approaches to enhancing marketing effectiveness in this market. The study emphasizes the significance of adapting marketing strategies to align with the changing landscape of the Chinese market. It provides actionable recommendations for multinational companies to thrive in this environment.

Keywords: multinational company, marketing strategies, Chinese market, SWOT

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Authors: Ralph Adaimy, Wassim El-Hajj, Ghassen Ben Brahim, Hazem Hajj, Haidar Safa

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Huge amounts of data and personal information are being sent to and retrieved from web applications on daily basis. Every application has its own confidentiality and integrity policies. Violating these policies can have broad negative impact on the involved company’s financial status, while enforcing them is very hard even for the developers with good security background. In this paper, we propose a framework that enforces security-by-construction in web applications. Minimal developer effort is required, in a sense that the developer only needs to annotate database attributes by a security class. The web application code is then converted into an intermediary representation, called Extended Program Dependence Graph (EPDG). Using the EPDG, the provided annotations are propagated to the application code and run against generic security enforcement rules that were carefully designed to detect insecure information flows as early as they occur. As a result, any violation in the data’s confidentiality or integrity policies is reported. As a proof of concept, two PHP web applications, Hotel Reservation and Auction, were used for testing and validation. The proposed system was able to catch all the existing insecure information flows at their source. Moreover and to highlight the simplicity of the suggested approaches vs. existing approaches, two professional web developers assessed the annotation tasks needed in the presented case studies and provided a very positive feedback on the simplicity of the annotation task.

Keywords: web applications security, secure information flow, program dependence graph, database annotation

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Authors: Nicolas Plamondon, Stuart Atkinson, Shuzi Zhou

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The insurance industry is usually not the first topic one has in mind when thinking about applications of data science. However, the use of data science in the finance and insurance industry is growing quickly for several reasons, including an abundance of reliable customer data, ferocious competition requiring more accurate pricing, etc. Among the top use cases of data science, we find pricing optimization, customer segmentation, customer risk assessment, fraud detection, marketing, and triage analytics. The objective of this paper is to present an application of the generalized additive model (GAM) on a commercial automobile insurance product: an individually rated commercial automobile. These are vehicles used for commercial purposes, but for which there is not enough volume to apply pricing to several vehicles at the same time. The GAM model was selected as an improvement over GLM for its ease of use and its wide range of applications. The model was trained using the largest split of the data to determine model parameters. The remaining part of the data was used as testing data to verify the quality of the modeling activity. We used the Gini coefficient to evaluate the performance of the model. For long-term monitoring, commonly used metrics such as RMSE and MAE will be used. Another topic of interest in the insurance industry is to process of producing the model. We will discuss at a high level the interactions between the different teams with an insurance company that needs to work together to produce a model and then monitor the performance of the model over time. Moreover, we will discuss the regulations in place in the insurance industry. Finally, we will discuss the maintenance of the model and the fact that new data does not come constantly and that some metrics can take a long time to become meaningful.

Keywords: insurance, data science, modeling, monitoring, regulation, processes

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Authors: Oanthata Jester Sealetsa, Richie Moalosi

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Musculoskeletal Disorders (MSDs) are reported to be amongst the leading contributing factors of low productivity in many industries across the world, and the most affected being New Emerging Economies (NEC) such as Botswana. This is due to lack of expertise and resources to deal with existing ergonomics challenges. This study was aimed to evaluate occupational postures and the prevalence of musculoskeletal disorders among diamond polishers in a diamond company in Botswana. A case study was conducted with about 106 diamond polishers in Gaborone, Botswana. A case study was chosen because it can investigate and explore an issue thoroughly and deeply, and record behaviour over time so changes in behaviour can be identified. The Corlett and Bishop Body Map was used to determine frequency of MSDs symptoms in different body parts of the workers. This was then followed by the use of the Rapid Entire Body Assessment (REBA) to evaluate the occupational postural risks of MSDs. Descriptive statistics, chi square, and logistic regression were used for data analysis. The results of the study reveal that workers experienced pain in the upper back, lower back, shoulders, neck, and wrists with the most pain reported in the upper back (44.6%) and lower back (44.2%). However, the mean REBA score of 6.07 suggests that sawing, bruiting and polishing were the most dangerous processes in diamond polishing. The study recommends that a redesign of the diamond polishing workstations is necessary to accommodate the anthropometry characteristic of Batswana (people from Botswana) to prevent the development of MSDs.

Keywords: assessment, Botswana, diamond polishing, ergonomics, musculoskeletal disorders, occupational postural risks

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Authors: Olga C. Rodrigue

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Long-term care and skilled nursing facilities experience ebbs and flows of nursing staffing, a problem compounded by the perception of the facilities as undesirable workplaces and competition for staff from other healthcare entities. Travel nurses are contracted to fill staffing needs due to increased admissions, increased and unexpected attrition of nurses, or facility expansion of services. Prior to beginning the contracted assignment, the travel nurse must meet industry, company, and regulatory requirements (The Joint Commission and CMS) for skills and knowledge. Travel nurses, however, inconsistently receive the pre-assignment orientation needed to work at the contracted facility, if any information is given at all. When performance expectations are not met, travel nurses may subsequently choose to leave the position without completing the terms of the contract, and some facilities may choose to terminate the contract prior to the expected end date. The overarching goal of the Doctor of Nursing Practice evidence-based practice improvement project is to provide travel nurses with the basic and necessary information to prepare them to begin a long-term and skilled nursing assignment. The project involves the identification of travel nurse learning needs through a survey and the development and provision of web-based learning modules to address those needs prior to arrival for a long-term and skilled nursing assignment.

Keywords: nurse staffing, travel nurse, travel staff, contract staff, contracted assignment, long-term care, skilled nursing, onboarding, orientation, staff development, supplemental staff

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Authors: Rahul Thakur, Onkar Chandel

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Red Hat is the world leader in providing open source software and solutions. A global enterprise, like Red Hat, has unique issues of connecting employees with content because of distributed offices, multiple teams spread across geographies, multiple languages, and different cultures. Employees, of a global company, create content that is distributed across departments, teams, regions, and countries. This makes finding the best content difficult since owners keep iterating on the existing content. When employees are unable to find the content, they end up creating it once again and in the process duplicating existing material and effort. Also, employees may not find the relevant content and spend time reviewing obsolete duplicate, or irrelevant content. On an average, a person spends 15 minutes/day in failed searches that might result in missed business opportunities, employee frustration, and substandard deliverables. Red Hat Knowledge Management Office (KMO) applied 'open source strategy' to solve the above problems. Under the Open Source Strategy, decisions are taken collectively. The strategy aims at accomplishing common goals with the help of communities. The objectives of this initiative were to save employees' time, get them authentic content, improve their content search experience, avoid duplicate content creation, provide context based search, improve analytics, improve content management workflows, automate content classification, and automate content upload. This session will describe open source strategy, its applicability in content management, challenges, recommended solutions, and outcome.

Keywords: content classification, content management, knowledge management, open source

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Authors: Antoine Vikkey Hinson, Menonli Adjobimey, Gemayel Ahmed Biokou, Rose Mikponhoue

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Introduction: Construction industry is a critical concern with regard to Health and Safety Service worldwide. World health Organization revealed that work-related disease and trauma were held responsible for the death of one million nine hundred thousand people in 2016. The aim of this study it was to determine the prevalence and factors associated with the occurrence of work accidents in a construction industry in Benin. Method: It was a descriptive cross-sectional and analytical study. Data analysis was performed with R software 4.1.1. In multivariate analysis, we performed a binary logistic regression. OR adjusted (ORa) association measures and their 95% confidence interval [CI95%] were presented for the explanatory variables used in the final model. The significance threshold for all tests selected was 5% (p < 0.05) Result: In this study, 472 workers were included, and, of these, 452 (95.7%) were men corresponding to a sex ratio of 22.6. The average age of the workers was 33 years ± 8.8 years. Workers were mostly laborers (84.7%), and had declared having inadequate personal protective equipment (50.6%, n=239). The prevalence of work accidents is 50.8%. Collision with a rolling stock (25.8%), cut (16.2%), and stumbling (16.2%) were the main types of work accidents on the construction site. Four factors were associated with contributing to work accidents. Fatigue or exhaustion (ORa : 1.53[1.03 ; 2.28]); The use of dangerous tools (ORa : 1.81 [1.22 ; 2.71]); The various laborers’ jobs (ORa : 4.78 [2.62 ; 9.21]); and seniority in the company ≥ 4 years (ORa : 2.00 [1.35 ; 2.96]). Conclusion: This study allowed us to identify the associated factors. It is imperative to implement a rigorous policy of occupational health and security mostly the continuing training for workers safe, the supply of appropriate work tools and protective

Keywords: prevalence, work accident, associated factors, construction, benin

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Authors: Marcella De Filippo, Delio Colangelo, Luca Farnia

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In recent decades, the hyper-competition of tourism scenario has implicated the maturity of many businesses, attributing a central role to innovative processes and their dissemination in the economy of company management. At the same time, it has defined the need for monitoring the application of innovations, in order to govern and improve the performance of companies and destinations. The study aims to analyze and define the innovation in the tourism sector. The research actions have concerned, on the one hand, some in-depth interviews with experts, identifying innovation in terms of process and product, digitalization, sustainability policies and, on the other hand, to evaluate the interaction between these factors, in terms of substitutability and complementarity in management scenarios, in order to identify which one is essential to be competitive in the global scenario. Fuzzy measures and Choquet integral were used to elicit Experts’ preferences. This method allows not only to evaluate the relative importance of each pillar, but also and more interestingly, the level of interaction, ranging from complementarity to substitutability, between pairs of factors. The results of the survey are the following: in terms of Shapley values, Experts assert that Innovation is the most important factor (32.32), followed by digitalization (31.86), Network (20.57) and Sustainability (15.25). In terms of Interaction indices, given the low degree of consensus among experts, the interaction between couples of criteria on average could be ignored; however, it is worth to note that the factors innovations and digitalization are those in which experts express the highest degree of interaction. However for some of them, these factors have a moderate level of complementarity (with a pick of 57.14), and others consider them moderately substitutes (with a pick of -39.58). Another example, although outlier is the interaction between network and digitalization, in which an expert consider them markedly substitutes (-77.08).

Keywords: innovation, business model, tourism, fuzzy

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Authors: Lutfi Abosrra, Alseddeq Alabaoub, Nuri Elhaloudi

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Corrosion processes in the Oil & Gas industry can lead to failures that are usually costly to repair, costly in terms of loss of contaminated product, in terms of environmental damage and possibly costly in terms of human safety. This article describes the results of the corrosion review and criticality assessment done at Mellitah Gas (SRU unit) for pressure equipment and piping system. The information gathered through the review was intended for developing a qualitative RBI study. The corrosion criticality assessment has been carried out by applying company procedures and industrial recommended practices such as API 571, API 580/581, ASME PCC 3, which provides a guideline for establishing corrosion integrity assessment. The corrosion review is intimately related to the probability of failure (POF). During the corrosion study, the process units are reviewed by following the applicable process flow diagrams (PFDs) in the presence of Mellitah’s personnel from process engineering, inspection, and corrosion/materials and reliability engineers. The expected corrosion damage mechanism (internal and external) was identified, and the corrosion rate was estimated for every piece of equipment and corrosion loop in the process units. A combination of both Consequence and Likelihood of failure was used for determining the corrosion risk. A qualitative consequence of failure (COF) for each individual item was assigned based on the characteristics of the fluid as per its flammability, toxicity, and pollution into three levels (High, Medium, and Low). A qualitative probability of failure (POF)was applied to evaluate the internal and external degradation mechanism, a high-level point-based (0 to 10) for the purpose of risk prioritizing in the range of Low, Medium, and High.

Keywords: corrosion, criticality assessment, RBI, POF, COF

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Authors: Witthaya Mekhum, Jinjutha Srihera

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This research aims to study customer satisfaction towards the services of Baan Bueng Resort in Nongprue Subdistrict, Baanlamung District, Chonburi Province. 108 sample were drawn by random sampling from Thai and foreign tourists at Baan Bueng Resort. Questionnaires were distributed. Data were analyzed using frequency, percentage, mean (X) and standard deviation (S.D.). The tool used in this research was questionnaire on satisfaction towards the services of Baan Bueng Resort in Nongprue Subdistrict, Baanlamung District, Chonburi Province. The questionnaire can be divided into 3 parts; i.e. Part 1: General information i.e. gender, age, educational level, occupation, income, and nationality, Part 2: Customer satisfaction towards the services of Baan Bueng Resort; and Part 3: Suggestions of respondents. It can be concluded that most of the respondents are male, aged between 25 – 35 years old with bachelor degree. Most of them are private company employees with income 10,000–20,000 Baht per month. The majority of customers are satisfied with the services at Baan Beung Resort. Overall satisfaction is at good level. Considering each item, the item with the highest satisfaction level is personality and manner of employees and promptness and accuracy of cashier staff. Overall satisfaction towards the cleanliness of the rooms is at very good level. When considering each item, the item with the highest satisfaction level is that the guest room is cleaned everyday, while the satisfaction towards the quality of food and beverages at Baan Bueng Resort in Nongprue Subdistrict, Baanlamung District, Chonburi Province is at very good level. The item with the highest satisfaction is hotel facilities.

Keywords: satisfaction study, service, hotel, customer

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Authors: Penrug Pengsombut, Worawut Hamarn, Teerawuth Suwannasri, Kittiphong Songrukkiat, Kanatip Ratanachoo

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PTT Public Company Limited or simply PTT has played an important role in strengthening national energy security of the Kingdom of Thailand by transporting natural gas to customers in power, industrial and commercial sectors since 1981. PTT has been constructing and operating natural gas pipeline system of over 4,500-km network length both onshore and offshore laid through different area classifications i.e., marine, forest, agriculture, rural, urban, and city areas. During project development phase, an Environmental Impact Assessment (EIA) is conducted and submitted to the Office of Natural Resources and Environmental Policy and Planning (ONEP) for approval before project construction commencement. Knowledge and experiences gained and revealed from EIA in the past projects definitely are developed to further advance EIA study process for newly 5th Transmission Natural Gas Pipeline Project (5TP) with approximately 415 kilometers length. The preferred pipeline route is selected and justified by SMARTi map, an advance digital one-map platform with consists of multiple layers geographic and environmental information. Sensitive area impact focus (SAIF) is a practicable impact assessment methodology which appropriate for a particular long distance infrastructure project such as 5TP. An environmental modeling simulation is adopted into SAIF methodology for impact quantified in all sensitive areas whereas other area along pipeline right-of-ways is typically assessed as an impact representative. Resulting time and cost deduction is beneficial to project for early start.

Keywords: environmental impact assessment, EIA, natural gas pipeline, sensitive area impact focus, SAIF

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Authors: P. Thepnarintra, S. Nikorn

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Agricultural machinery industry plays an important role in the industrial development especially the production industry of the country. There has been continuing development responding to the higher demand of the production. However, the problem in agricultural machinery production still exists. Thus, the purpose of this research is to investigate problems on fundamental factors of industry based on the entrepreneurs’ point of view. The focus was on the small and medium size industry receiving a factory license typed number 0660 from the Department of Industrial Works. The investigation was on the comparison between the management of the small and medium size agricultural industry in 3 provinces in the central region of Thailand. Population in this study consisted of 189 company managers or managing directors, of which 101 were from the small size and 88 were from the medium size industry. The data were analyzed to find percentage, arithmetic mean, and standard deviation with independent sample T-test at the statistical significance .05. The results showed that the small and medium size agricultural machinery manufacturers in the central region of Thailand reported high problems in every aspect. When compared the problems on basic factors in running the business, it was found that there was no difference statistically at .05 in managing of the small and medium size agricultural machinery manufacturers. However, there was a statistically significant difference between the small and medium size agricultural machinery manufacturers on the aspect of policy and services of the government. The problems reported by the small and medium size agricultural machinery manufacturers were the services on public tap water and the problem on politic and stability of the country.

Keywords: agricultural machinery, manufacturers, problems, on running the business

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Authors: Md. Arifur Rahman, Ummya Salma, Nazrul Islam

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Private sector banking business is one of the leading businesses of Bangladesh as it is profitable and directly attached with the economic development of the country. Training has got very high importance in this sector for increasing the performance of the banks. It has a long term impact on a number of aspects of the bank employees and their performances. It is an investment of the organization that is permanent in nature. Study shows that there are positive relationships between training and the employee commitment, job retention, job satisfaction and company performance. Training is also concerned with promotion, compensation, work-life policies, career development, task and contextual performance of the employees. As such, this paper aims at identifying the impact of training on employee commitment, job retention, job satisfaction and the performance of the private sector banks in Bangladesh. Both primary and secondary data were used to conduct the study. Data were collected from the bank officers who were trained in their banks. Both descriptive and inferential statistics were used to analyze the data. Descriptive statistics were used to describe the present situation of the banks and their employees. Inferential statistics were used to identify the factors and their significance concerned with training. Results show that there is a significant relationship between the performance and the training of the employees. It also shows that the training can motivate employees and encourage them to work hard. However, this study did not find any relationship between the commitment of the employees and the training. This study suggests that for increasing the performance of the banks, training is a must which is to be given deliberately for improving the specific skills of the bank employees.

Keywords: training, promotion, compensation, work-life policies

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Authors: Tibah Alharbi, Renzo Cordina, David Power

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Relatively few studies have explored how venture capitalist investors (VCs) make investment decisions and the information they rely on when taking an equity stake in an investee company. In addition, little is known about how much investors monitor start-ups after the decision to invest has been made. The VC scene in the US or European context is understood better than that of developing countries such as those in the Middle East. Although some differences among VC investors have been identified, the reasons behind such differences have not been fully explored – especially in a country such as Saudi Arabia. Therefore, this research seeks to understand the impact of external factors on the VC investor’ behaviour. The unique cultural and legal environments in the Kingdom of Saudi Arabia, the growing VC sector in the country, and the increasing importance attached to start-ups under the Saudi Government’s Vision 2030 program make such an investigation timely. Ascertaining the perceptions of VC investors in such a context will provide a deeper understanding of the determinants of VC investment in a novel setting. Using semi-structured interviews with over 20 participants, the research explores the structure of VC funds, the cycle of the VC investment in a start-up from the sourcing of deals, the screening and evaluation of such deals, the closing of such deals, and finally, the monitoring of such investments before the decision to exit such deals at the appropriate time. The results show some similarities to the VC model, which characterizes such investment in the US and Europe, but several differences emerge given the unique cultural and legal settings within the Kingdom. The results provide an in-depth understanding of the VC investors’ mindset relative to the existing studies in the literature.

Keywords: exit, monitoring, start-ups, venture capital

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Authors: N. J. M. Yusof, T. Sabir, J. McLoughlin

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Garment manufacturing industry involves sequential processes that are subjected to uncontrollable variations. The industry depends on the skill of labour in handling the varieties of fabrics and accessories, machines, and also a complicated sewing operation. Due to these reasons, garment manufacturers created systems to monitor and control the product’s quality regularly by conducting quality approaches to minimize variation. The aims of this research were to ascertain the quality approaches deployed by Malaysian garment manufacturers in three key areas-quality systems and tools; quality control and types of inspection; sampling procedures chosen for garment inspection. The focus of this research also aimed to distinguish quality approaches used by companies that supplied the finished garments to both domestic and international markets. The feedback from each of company’s representatives was obtained using the online survey, which comprised of five sections and 44 questions on the organizational profile and quality approaches used in the garment industry. The results revealed that almost all companies had established their own mechanism of process control by conducting a series of quality inspection for daily production either it was formally been set up or vice versa. Quality inspection was the predominant quality control activity in the garment manufacturing and the level of complexity of these activities was substantially dictated by the customers. AQL-based sampling was utilized by companies dealing with the export market, whilst almost all the companies that only concentrated on the domestic market were comfortable using their own sampling procedures for garment inspection. This research provides an insight into the implementation of quality approaches that were perceived as important and useful in the garment manufacturing sector, which is truly labour-intensive.

Keywords: garment manufacturing, quality approaches, quality control, inspection, Acceptance Quality Limit (AQL), sampling

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Authors: Giorgia Predari, Riccardo Gulli

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The paper describes the history and the stylistic choices adopted in the construction of Palazzo Ronzani in Bologna, which was the first building to rise after the heavy demolitions carried out in the historical center of the city at the beginning of the twentieth century. In 1910, the local administration adopted a detailed plan to change the aspect of the city, as it was already happening in the main European capitals. In this context, starting from 1911, the architect and scenographer Gualtiero Pontoni designed for Alessandro Ronzani -the owner of a well-known Bolognese beer company- his Palazzo, which is listed among the first multifunctional buildings in Bologna, containing offices, commercial activities, and entertainment spaces. In an area of about 2000 m², the architect was able to propose a theatre with a capacity of 2000 seats at the basement, shops, a cafè-chantant and a restaurant on the ground floor, clubs, studios and commercial stores on the mezzanine and the first plan, and a hotel on the upper floors. The whole core of the building, at the underground levels, consisted of a reinforced concrete frame (one of the first examples of this type of construction in the city), which allowed the hall to have a free span of 11 x 12 meters, and a height of about 9 meters. Used until 2007 as a cinema, the hall has remained then in disuse for almost 10 years, but now an important functional restoration project with a strong architectural and scenographic value is taking place. It will bring the spaces back to the original geometries, in a historical and artistic condition inspired by the styles of the early Twentieth century.

Keywords: Modernissimo, Palazzo Ronzani, liberty, Bologna

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Authors: Alexandre Olkoski, Marcelo Curth

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Football in Brazil is considered a passion, being the most popular sport in the country, both by the consumer public and by the means of communication that divulge it individually, when compared with other sports modalities. In the last two decades, the soccer teams have given greater importance to the management, since they understood that the same should be managed as a company, but with peculiarities related to the business. In this sense, Brazilian soccer clubs started to make bigger investments for the adhesion of fans in their social frames, allowing a greater need of understanding about the profile of this group of fans/clients. Thus, this work aims to understand the reasons that cause the fans to join the club and identify variables present in the process of intention to join the club. For that, a qualitative exploratory research was conducted, in which thirty-one membership of a soccer club from southern Brazil were interviewed. Based on the interviews, five categories were classified as emotional aspects (passion and love), cognitive aspects (easy access to the stadium and promotional values in tickets), external influences (family and friends), situational aspects (club moment) and aspects related to the event (engagement by modality). As results found in the analysis, it can be highlighted that the motivation of the majority of the respondents to become a member of the analyzed club, is related to the emotional aspects, such as passion and love. Thus, it is perceived that sport, in the case of soccer, generates in the involved ones (fans and leaders) different manifestations, suggesting that the management of this type of business has great complexity and should not be observed only by the spectrum of the club like a business.

Keywords: consumer behavior, marketing, membership, soccer

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Authors: Huong Nguyen Thi Thanh, Van Mai Thi Khanh

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For around the world, payments for environmental services have been implemented since the late 1970s in Europe and North America; then, it was spread to Latin America, Asia, Africa, and finally Oceania in 2008. In Vietnam, payments for environmental services are an interesting issue recently with the forest as the main focus and therefore known as the program on payment for forest environmental services (PFES). PFES was piloted in Lam Dong and Son La in 2008 and has been widely applied in many provinces after 2010. PFES is in the orientation for the socialization of national forest protection in Vietnam and has made great strides in the last decade. By using the primary data and secondary data simultaneously, the paper clarifies two cases of implementing PFES in the Vietnam North Central area with the different mechanisms of payment. In the first case at Phu Loc district (Thua Thien Hue province), PFES is an indirect method by a water supply company via the Forest Protection and Development Fund. In the second one at Phong Nha – Ke Bang National Park (Quang Binh Province), tourism companies are the direct payers to forest owners. The paper describes the PFES implementation process at each site, clarifies the payment mechanism, and models the relationship between stakeholders in PFES implementation. Based on the current status of PFES sites, the paper compares and analyzes the advantages and disadvantages of the two payment methods. Finally, the paper proposes recommendations to improve the existing shortcomings in each payment mechanism.

Keywords: advantages and disadvantages, forest environmental services, forest protection, payment mechanism

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Authors: Mohamed Ouazene

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The insulating properties of the polymers are widely used in electrical engineering for the production of insulators and various supports, as well as for the insulation of electric cables for medium and high voltage, etc. These polymeric materials have significant advantages both technically and economically. However, although the insulation with polymeric materials has advantages, there are also certain disadvantages such as the influence of the heat which can have a detrimental effect on these materials. Polyvinyl chloride (PVC) is one of the polymers used in a plasticized state in the cable insulation to medium and high voltage. The studied material is polyvinyl chloride (PVC 4000 M) from the Algerian national oil company whose formula is: Industrial PVC 4000 M is in the form of white powder. The test sample is a pastille of 1 mm thick and 1 cm in diameter. The consequences of increasing the temperature of a polymer are modifications; some of them are reversible and others irreversible [1]. The reversible changes do not affect the chemical composition of the polymer, or its structure. They are characterized by transitions and relaxations. The glass transition temperature is an important feature of a polymer. Physical aging of PVC is to maintain the material for a longer or shorter time to its glass transition temperature. The aim of this paper is to study this phenomenon by the method of thermally stimulated depolarization currents. Relaxations within the polymer have been recorded in the form of current peaks. We have found that the intensity decreases for more residence time in the polymer along its glass transition temperature. Furthermore, it is inferred from this work that the phenomenon of physical aging can have important consequences on the properties of the polymer. It leads to a more compact rearrangement of the material and a reconstruction or reinforcement of structural connections.

Keywords: depolarization currents, glass transition temperature, physical aging, polyvinyl chloride (PVC)

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Authors: Ons Triki, Fathi Abid

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The basic objective of this paper is twofold. It resides in designing a model for a contingent convertible lease contract that can ensure the financial stability of a company and recover the losses of the parties to the lease in the event of default. It also aims to compare the convertible lease contract on inefficiencies resulting from the debt-overhang problem and asset substitution with other financing policies. From this perspective, this paper highlights the interaction between investments and financing policies in a dynamic model with existing assets and a growth option where the investment cost is financed by a contingent convertible lease and equity. We explore the impact of the contingent convertible lease on the capital structure. We also check the reliability and effectiveness of the use of the convertible lease contract as a means of financing. Findings show that the rental convertible contract with a sufficiently high conversion ratio has less severe inefficiencies arising from risk-shifting and debt overhang than those entailed by risky debt and pure-equity financing. The problem of underinvestment pointed out by Mauer and Ott (2000) and the problem of overinvestment mentioned by Hackbarth and Mauer (2012) may be reduced under contingent convertible lease financing. Our findings predict that the firm value under contingent convertible lease financing increases globally with asset volatility instead of decreasing with business risk. The study reveals that convertible leasing contracts can stand for a reliable solution to ensure the lessee and quickly recover the counterparties of the lease upon default.

Keywords: contingent convertible lease, growth option, debt overhang, risk-shifting, capital structure

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Authors: Ernesto A. Lagarda-Leyva, Manuel A. Valenzuela L., José G. Oshima C., Arnulfo A. Naranjo-Flores

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From August to December of 2016, a diagnostic and strategic planning study was carried out on the supply chain of the company Agropecuaria GABO S.A. de C.V. The final product of the study was the development of the strategic plan and a project portfolio to meet the demands of the three links in the supply chain of the Roma tomato exported annually to the United States of America. In this project, the strategic objective of ensuring the proper handling of the product was selected and one of the goals associated with this was the employment of quantitative methods to support decision making. Considering the antecedents, the objective of this case study was to develop a model to analyze the behavioral dynamics in the distribution chain, from the logistics of storage and shipment of Roma tomato in 81-case pallets (11.5 kg per case), to the two pre-cooling rooms and eventual loading onto transports, seeking to reduce the bottleneck and the associated costs by means of a dynamic interface. The methodology used was that of system dynamics, considering four phases that were adapted to the purpose of the study: 1) the conceptualization phase; 2) the formulation phase; 3) the evaluation phase; and 4) the communication phase. The main practical conclusions lead to the possibility of reducing both the bottlenecks in the cooling rooms and the costs by simulating scenarios and modifying certain policies. Furthermore, the creation of the dynamic interface between the model and the stakeholders was achieved by generating interaction with buttons and simple instructions that allow making modifications and observing diverse behaviors.

Keywords: agrilogistics, distribution, scenarios, system dynamics

Procedia PDF Downloads 231

Authors: Sergio Mauricio Pérez López, Luis Rodrigo Valencia Pérez, Juan Manuel Peña Aguilar, Adelina Morita Alexander

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The culture of continuous improvement in organizations is very important as it represents a source of competitive advantage. This article discusses the transfer of knowledge between companies which formed cross-functional teams and used a dynamic model for knowledge creation as a framework. In addition, the article discusses the structure of cognitive assets in companies and the concept of "stickiness" (which is defined as an obstacle to the transfer of knowledge). The purpose of this analysis is to show that an improvement in the attitude of individual members of an organization creates opportunities, and that an exchange of information and knowledge leads to generating continuous improvements in the company as a whole. This article also discusses the importance of creating the proper conditions for sharing tacit knowledge. By narrowing gaps between people, mutual trust can be created and thus contribute to an increase in sharing. The concept of adapting knowledge to new environments will be highlighted, as it is essential for companies to translate and modify information so that such information can fit the context of receiving organizations. Adaptation will ensure that the transfer process is carried out smoothly by preventing "stickiness". When developing the transfer process on cross-functional teams (as opposed to working groups), the team acquires the flexibility and responsiveness necessary to meet objectives. These types of cross-functional teams also generate synergy due to the array of different work backgrounds of their individuals. When synergy is established, a culture of continuous improvement is created.

Keywords: knowledge transfer, continuous improvement, teamwork, cognitive assets

Procedia PDF Downloads 324

Authors: Adel Mohamed El-Baghdady, Walid Sayed Abdulgalil, Ahmad Asran, Ibrahim Nosier

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This paper studies the effectiveness of applying value engineering to actual concrete mixtures. The study was conducted in the State of Qatar on a number of strategic construction projects with international engineering specifications for the 2022 World Cup projects. The study examined the concrete mixtures of Doha Metro project and the development of KAHRAMAA’s (Qatar Electricity and Water Company) Abu Funtas Strategic Desalination Plant, in order to generally improve the quality and productivity of ready-mixed concrete used in construction and hydraulic projects. The application of value engineering to such concrete mixtures resulted in the following: i) improving the quality of concrete mixtures and increasing the durability of buildings in which they are used; ii) reducing the waste of excess materials of concrete mixture, optimizing the use of resources, and enhancing sustainability; iii) reducing the use of cement, thus reducing CO₂ emissions which ensures the protection of environment and public health; iv) reducing actual costs of concrete mixtures and, in turn, reducing the costs of construction projects; and v) increasing the market share and competitiveness of concrete producers. This research shows that applying the methodology of value engineering to ready-mixed concrete is an effective way to save around 5% of the total cost of concrete mixtures supplied to construction and hydraulic projects, improve the quality according to the technical requirements and as per the standards and specifications for ready-mixed concrete, improve the environmental impact, and promote sustainability.

Keywords: value management, cost of concrete, performance, optimization, sustainability, environmental impact

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Authors: Abiola Olukemi Ogunyemi

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Many organizations would like to gain customer loyalty, and to achieve this they invest in customer management systems which help them to learn and anticipate the customers’ needs, get feedback from them and serve them. One of the most elementary ways to achieve customer loyalty is for employees to be able to empathize with their customers, and to be able to feel what they feel when the company betrays their trust, which usually otherwise shown in patronage and loyalty. Unfortunately, the staff and management of organizations do not always realize the negative impact of treating customers badly, because they do not stop to think how these customers feel. If they did, they would be more careful and more respectful of these people who are human beings just like they are. They would be wiser, since this would ultimately make them more profitable businesses. This paper looks at thirteen descriptions of situations in which customers felt treated badly by organizations they trusted, and focuses on the feelings of these customers. If the organization (made of people) could empathize with the customer, then customer service would be surely enhanced. It is expected that these stories, real experiences narrated by young professionals working in Nigeria, can awaken greater empathy for consumers within organizations. Thus, they may help the organization to learn empathy and to incorporate it into their foundational principles for ethical behavior. The paper’s contents contribute to a heightened appreciation of empathy as an organizing mechanism by showing how putting one in the consumer’s shoes can help managers to understand how he or she feels. This will lead organizations to be even more innovative in finding ways to meet their customers’ needs and to deserve and win their loyalty. It addresses an issue that cuts across cultures, and therefore can be quite thought-provoking for every business owner or for team leads within organizations. By trying to stimulate empathy across the seller-buyer divide, it necessarily contributes to a deeper understanding of empathy as a building block for a sustainable society.

Keywords: customer service, empathy, ethical behavior, respectfulness

Procedia PDF Downloads 260

Authors: Gal Belsitzman, Rose Stamp, Atay Citron, Wendy Sandler

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Sign languages are considered endangered. The vitality of sign languages is compromised by its unique sociolinguistic situation, in which hearing parents that give birth to deaf children usually decide to cochlear implant their child. Therefore, these children don’t acquire their natural language – Sign Language. Despite this, many sign languages, such as Israeli Sign Language (ISL) are thriving. The continued survival of similar languages under threat has been associated with the remarkable resilience of the language community. In particular, deaf literary traditions are central in reminding the community of the importance of the language. One example of a deaf literary tradition which has received increased popularity in recent years is deaf theatre. The Ebisu Sign Language Theatre Laboratory, developed as part of the multidisciplinary Grammar of the Body Research Project, is the first deaf theatre company in Israel. Ebisu Theatre combines physical theatre and sign language research, to allow for a natural laboratory to analyze the creative use of the body. In this presentation, we focus on the recent theatre production called ‘Their language’ which tells of the struggle faced by the deaf community to use their own natural language in the education system. A thorough analysis unravels how linguistic properties are integrated with the use of poetic devices and physical theatre techniques in this performance, enabling wider access by both deaf and hearing audiences, without interpretation. Interviews with the audience illustrate the significance of this art form which serves a dual purpose, both as empowering for the deaf community and educational for the hearing and deaf audiences, by raising awareness of community-related issues.

Keywords: deaf theatre, empowerment, language revitalization, sign language

Procedia PDF Downloads 169