Search results for: business economics
2139 Integration of Corporate Social Responsibility Criteria in Employee Variable Remuneration Plans
Authors: Jian Wu
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Since a few years, some French companies have integrated CRS (corporate social responsibility) criteria in their variable remuneration plans to ‘restore a good working atmosphere’ and ‘preserve the natural environment’. These CSR criteria are based on concerns on environment protection, social aspects, and corporate governance. In June 2012, a report on this practice has been made jointly by ORSE (which means Observatory on CSR in French) and PricewaterhouseCoopers. Facing this initiative from the business world, we need to examine whether it has a real economic utility. We adopt a theoretical approach for our study. First, we examine the debate between the ‘orthodox’ point of view in economics and the CSR school of thought. The classical economic model asserts that in a capitalist economy, exists a certain ‘invisible hand’ which helps to resolve all problems. When companies seek to maximize their profits, they are also fulfilling, de facto, their duties towards society. As a result, the only social responsibility that firms should have is profit-searching while respecting the minimum legal requirement. However, the CSR school considers that, as long as the economy system is not perfect, there is no ‘invisible hand’ which can arrange all in a good order. This means that we cannot count on any ‘divine force’ which makes corporations responsible regarding to society. Something more needs to be done in addition to firms’ economic and legal obligations. Then, we reply on some financial theories and empirical evident to examine the sound foundation of CSR. Three theories developed in corporate governance can be used. Stakeholder theory tells us that corporations owe a duty to all of their stakeholders including stockholders, employees, clients, suppliers, government, environment, and society. Social contract theory tells us that there are some tacit ‘social contracts’ between a company and society itself. A firm has to respect these contracts if it does not want to be punished in the form of fine, resource constraints, or bad reputation. Legitime theory tells us that corporations have to ‘legitimize’ their actions toward society if they want to continue to operate in good conditions. As regards empirical results, we present a literature review on the relationship between the CSR performance and the financial performance of a firm. We note that, due to difficulties in defining these performances, this relationship remains still ambiguous despite numerous research works realized in the field. Finally, we are curious to know whether the integration of CSR criteria in variable remuneration plans – which is practiced so far in big companies – should be extended to other ones. After investigation, we note that two groups of firms have the greatest need. The first one involves industrial sectors whose activities have a direct impact on the environment, such as petroleum and transport companies. The second one involves companies which are under pressures in terms of return to deal with international competition.Keywords: corporate social responsibility, corporate governance, variable remuneration, stakeholder theory
Procedia PDF Downloads 1752138 Designing Entrepreneurship Education Contents for Entrepreneurial Intention Building among Undergraduates in India
Authors: Sumita Srivastava
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Despite several measures taken by the Government of India, entrepreneurship is still not perceived as a viable career option by the young generation. Although the rate of startups has improved a little after the penetration of e portals as business platforms, still the numbers are not very significant. It is also important to note that entrepreneurial initiatives are mostly taken up by graduates of premier institutions of India like Indian Institute of Technology (IITs) and Indian Institute of Management (IIMs). The scenario is not very satisfactory amongst the masses graduating from mainstream universities of the country. Indian youth at large are not attracted towards entrepreneurship as a career choice. The reason probably lies in the social fabric of the country and inappropriate education system which does not support the entrepreneurship at large amongst youth in the country. Education is critical to the development of an economy from the poverty level to the level of self-sustenance and development. The current curriculum in the majority of business schools in India prepares the average graduate to become employed by the available firms or business owners in society. For graduates in other streams, employment opportunities are very limited. The aim of this study was to identify and design entrepreneurship education contents to encourage undergraduates to pursue entrepreneurship as a career choice. This comprehensive study was conducted in multiple stages. Extensive research was conducted at each stage with an appropriate methodology. These stages of the project study were interconnected with each other, and each preceding stage provided inputs for the following stage of the study. In the first stage of the study, an empirical analysis was conducted to understand the current state of entrepreneurial intentions of undergraduates of Agra city. Various stakeholders were contacted at the stage, including students (n = 500), entrepreneurs (n = 20) and academicians and field experts (n = 10). At the second stage of the project study, a systems science technique, Nominal Group Technique (NGT) was used to identify the critical elements of entrepreneurship education in India based upon the findings of stage 1. The application of the Nominal Group Technique involved a workshop format; 15 domain experts participated in the workshop. Throughout the process, a democratic process was followed to avoid individual dominance and premature focusing on a single idea. The study obtained 63 responses from experts for effective entrepreneurship education in India. The responses were reduced to seven elements after a few thematic iterations. These elements were then segregated into content (knowledge, skills and attitude) and learning interaction on the basis of experts’ responses. After identifying critical elements of entrepreneurship education in the previous stage, the course was designed and validated at stage 3 of the project. Scientific methods were used at this stage to validate the curriculum contents and training interventions experimentally. The educational and training interventions designed through this study would not only help in developing entrepreneurial intentions but also creating skills relevant to the local entrepreneurial opportunities in the vicinity.Keywords: curriculum design, entrepreneurial intention, entrepreneuship education, nominal group technique
Procedia PDF Downloads 1242137 Producing Graphical User Interface from Activity Diagrams
Authors: Ebitisam K. Elberkawi, Mohamed M. Elammari
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Graphical User Interface (GUI) is essential to programming, as is any other characteristic or feature, due to the fact that GUI components provide the fundamental interaction between the user and the program. Thus, we must give more interest to GUI during building and development of systems. Also, we must give a greater attention to the user who is the basic corner in the dealing with the GUI. This paper introduces an approach for designing GUI from one of the models of business workflows which describe the workflow behavior of a system, specifically through activity diagrams (AD).Keywords: activity diagram, graphical user interface, GUI components, program
Procedia PDF Downloads 4562136 A Systematic Review on Challenges in Big Data Environment
Authors: Rimmy Yadav, Anmol Preet Kaur
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Big Data has demonstrated the vast potential in streamlining, deciding, spotting business drifts in different fields, for example, producing, fund, Information Technology. This paper gives a multi-disciplinary diagram of the research issues in enormous information and its procedures, instruments, and system identified with the privacy, data storage management, network and energy utilization, adaptation to non-critical failure and information representations. Other than this, result difficulties and openings accessible in this Big Data platform have made.Keywords: big data, privacy, data management, network and energy consumption
Procedia PDF Downloads 3032135 Calculate Consumer Surplus and Producer Surplus Using Integration
Authors: Bojan Radisic, Katarina Stavlic
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The paper describes two economics terms consumer surplus and producer surplus using the definite integrals (the Riemann integral). The consumer surplus is the difference between what consumers are willing to pay and actual price. The producer surplus is the difference between what producers selling at the current price, rather than at the price they would have been are willing to accept. Using the definite integrals describe terms and mathematical formulas of the consumer surplus and the producer surplus and will be applied to the numerical examples.Keywords: consumer surplus, producer surplus, definite integral, integration
Procedia PDF Downloads 5732134 [Keynote Talk]: Knowledge Codification and Innovation Success within Digital Platforms
Authors: Wissal Ben Arfi, Lubica Hikkerova, Jean-Michel Sahut
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This study examines interfirm networks in the digital transformation era, and in particular, how tacit knowledge codification affects innovation success within digital platforms. Hence, one of the most important features of digital transformation and innovation process outcomes is the emergence of digital platforms, as an interfirm network, at the heart of open innovation. This research aims to illuminate how digital platforms influence inter-organizational innovation through virtual team interactions and knowledge sharing practices within an interfirm network. Consequently, it contributes to the respective strategic management literature on new product development (NPD), open innovation, industrial management, and its emerging interfirm networks’ management. The empirical findings show, on the one hand, that knowledge conversion may be enhanced, especially by the socialization which seems to be the most important phase as it has played a crucial role to hold the virtual team members together. On the other hand, in the process of socialization, the tacit knowledge codification is crucial because it provides the structure needed for the interfirm network actors to interact and act to reach common goals which favor the emergence of open innovation. Finally, our results offer several conditions necessary, but not always sufficient, for interfirm managers involved in NPD and innovation concerning strategies to increasingly shape interconnected and borderless markets and business collaborations. In the digital transformation era, the need for adaptive and innovative business models as well as new and flexible network forms is becoming more significant than ever. Supported by technological advancements and digital platforms, companies could benefit from increased market opportunities and creating new markets for their innovations through alliances and collaborative strategies, as a mode of reducing or eliminating uncertainty environments or entry barriers. Consequently, an efficient and well-structured interfirm network is essential to create network capabilities, to ensure tacit knowledge sharing, to enhance organizational learning and to foster open innovation success within digital platforms.Keywords: interfirm networks, digital platform, virtual teams, open innovation, knowledge sharing
Procedia PDF Downloads 1172133 The Moderating Role of Perceived University Environment in the Formation of Entrepreneurial Intention among Creative Industries Students
Authors: Patrick Ebong Ebewo
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The trend of high unemployment levels globally is a growing concern, which suggests that university students especially those studying the creative industries are most likely to face unemployment upon completion of their studies. Therefore the effort of university in fostering entrepreneurial knowledge is equally important to the development of student’s soft skill. The purpose of this paper is to assess the significance of perceived university environment and perceived educational support that influencing University students’ intention in starting their own business in the future. Thus, attempting to answer the question 'How does perceived university environment affect students’ attitude towards entrepreneurship as a career option, perceived entrepreneurial abilities, subjective norm and entrepreneurial intentions?' The study is based on the Theory of Planned Behaviour model adapted from previous studies and empirically tested on graduates at the Tshwane University of Technology. A sample of 150 graduates from the Arts and Design graduates took part in the study and data collected were analysed using structural equation modelling (SEM). Our findings seem to suggest the indirect impact of perceived university environment on entrepreneurial intention through perceived environment support and perceived entrepreneurial abilities. Thus, any increase in perceived university environment might influence students to become entrepreneurs. Based on these results, it is recommended that: (a) Tshwane University of Technology and other universities of technology should establish an ‘Entrepreneurship Internship Programme’ as a tool for stimulated work integrated learning. Post-graduation intervention could be implemented by the development of a ‘Graduate Entrepreneurship Program’ which should be embedded in the Bachelor of Technology (B-Tech now Advance Diploma) and Postgraduate courses; (b) Policymakers should consider the development of a coherent national policy framework that addresses entrepreneurship for the Arts/creative industries sector. This would create the enabling environment for the evolution of Higher Education Institutions from merely Teaching, Learning & Research to becoming drivers for creative entrepreneurship.Keywords: business venture, entrepreneurship education, entrepreneurial intent, university environment
Procedia PDF Downloads 3282132 The Role of the Municipal Executive in the Process of Creating a Smart City
Authors: Jakub Bryla
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Cities are now seen as business entities, and their executive body is similar to a chief executive officer. However, it is not enough for the legal system to provide a strong role for the executive branch. It seems that the authority must take the form of a managerial body. This solution answers the demands of smart governance, which in such a regulated relation between the unit head and the city see a guarantee of reliable implementation of the municipal strategy proposed during the recruitment and of the motivation to carry out statutory tasks to communes and their residents.Keywords: smart cities, local government, executive organ, municipality, city management
Procedia PDF Downloads 722131 Exploring the Role of Private Commercial Banks in Increasing Small and Medium Size Enterprises’ Financial Accessibility in Developing Countries: A Study in Bangladesh
Authors: Khondokar Farid Ahmmed, Robin Bown
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It is widely recognized that the formal financing of Small and Medium Size Enterprises (SMEs) by Private Commercial Banks (PCBs) is restricted. Due to changing financial market competition, SMEs are now important customers to PCBs in the member countries of the Asian Development Bank (ADB). Various initiatives in enhancing the efficiency of risk assessment of PCBs have failed in increasing financing accessibility in the traditional financing system where information asymmetry is a key constraint. In this circumstance, PCBs need to undertake a holistic approach. Holistic approach refers to methods that attempt to fundamentally change established traditions. To undertake holistic approach, this study intends to find the entire established financing culture between PCBs and SMEs in a new lens beyond the tradition on the basis of two basic questions: “What is the traditional lending culture between PCBs and SMEs” and “What could be potential role of PCBs to develop that culture where focusing on SME financing to PCBs". This study considered formal SME financing in Bangladesh by focusing on SMEs applying for their first loan. Bangladesh is a member country of ADB. The data collection method is semi-structured and we utilized face-to-face interviews with in-depth branch managers, higher officials and owner-managers of SME customers of PCBs and higher officials of SME Foundation and the Bangladesh central bank. Discourse analysis method was used for data analysis on the frame of thematic discussion fully based on participants’ views. The research found that branch managers and loan officers have a high level of power in assessing and financing decision-making. There is a changing attitude in PCB sector in requiring flexible collateral assets. Branch managers (Loan Officers) consider value of business prospect of owner-mangers as complementary of collateral assets. However, the study found the assessment process of business prospect is entirely unstructured and linked with socio-cultural settings that does not support PCBs’ changing manner in terms of collateral requirement. The study redefined and classified collateral assets to include all financing constructs in a structure. The degree of value of the collateral assets determines the degree of business prospects. This study suggested applying an outside classroom-learning paradigm such as “knowledge tour” to enhance the value of the kinds of collateral assets. This is the scope of PCBs in increasing SMEs’ financing eligibility in win-win basis. The findings and proposition could be effective in other ADB member countries and audiences in the field.Keywords: CCA, financing, information asymmetry, PCA, PCB, financing
Procedia PDF Downloads 1922130 Cloud Computing Architecture Based on SOA
Authors: Negin Mohammadrezaee Larki
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Cloud Computing is a popular solution that has been used in recent years to cooperate and collaborate among distributed applications over networks. Moving successfully into cloud computing requires an architecture that will support the new cloud capabilities. Many business leaders and analysts agree that moving to cloud requires having a solid, service-oriented architecture to provide the infrastructure needed for successful cloud implementation.Keywords: Service Oriented Architecture (SOA), Service Oriented Cloud Computing Architecture (SOCCA), cloud computing, cloud computing architecture
Procedia PDF Downloads 3782129 Linking Business Owners’ Choice of Organizational Form to Appraisers’ Determination of Value: An Agency Theory Perspective
Authors: Majdi Anwar Quttainah, William Paczkowski, Ali Muhammad
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Determining the value of a privately held firms confound those in academia as well as practitioners in the fields of appraisal, forensic accounting, and law. Divergent parties to the transfer look to apply the valuation technique to serve their own best interests. This paper seeks to explore how agency theory induces owners to choose the form of their businesses at inception and how this choice will affect the appraisers’ valuation of the firm at the transfer of ownership.Keywords: organizational form, agency theory, value
Procedia PDF Downloads 4262128 Open Innovation in SMEs: A Multiple Case Study of Collaboration between Start-ups and Craft Enterprises
Authors: Carl-Philipp Valentin Beichert, Marcel Seger
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Digital transformation and climate change require small and medium-sized enterprises (SME) to rethink their way of doing business. Inter-firm collaboration is recognized as helpful means of promoting innovation and competitiveness. In this context, collaborations with start-ups offer valuable opportunities through their innovative products, services, and business models. SMEs, and in particular German craft enterprises, play an important role in the country’s society and economy. Companies in this heterogeneous economic sector have unique characteristics and are limited in their ability to innovate due to their small size and lack of resources. Collaborating with start-ups could help to overcome these shortcomings. To investigate how collaborations emerge and what factors are decisive to successfully drive collaboration, we apply an explorative, qualitative research design. A sample of ten case studies was selected, with the collaboration between a start-up and a craft enterprise forming the unit of analysis. Semi-structured interviews with 20 company representatives allow for a two-sided perspective on the respective collaboration. The interview data is enriched by publicly available data and three expert interviews. As a result, objectives, initiation practices, applied collaboration types, barriers, as well as key success factors could be identified. The results indicate a three-phase collaboration process comprising an initiation, concept, and partner phase (ICP). The ICP framework proposed accordingly highlights the success factors (personal fit, communication, expertise, structure, network) for craft enterprises and start-ups for each collaboration phase. The role of a mediator in the start-up company, with strong expertise in the respective craft sector, is considered an important lever for overcoming barriers such as cultural and communication differences. The ICP framework thus provides promising directions for further research and can help practitioners establish successful collaborations.Keywords: open innovation, SME, craft businesses, startup collaboration, qualitative research
Procedia PDF Downloads 862127 Exploring Socio-Economic Barriers of Green Entrepreneurship in Iran and Their Interactions Using Interpretive Structural Modeling
Authors: Younis Jabarzadeh, Rahim Sarvari, Negar Ahmadi Alghalandis
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Entrepreneurship at both individual and organizational level is one of the most driving forces in economic development and leads to growth and competition, job generation and social development. Especially in developing countries, the role of entrepreneurship in economic and social prosperity is more emphasized. But the effect of global economic development on the environment is undeniable, especially in negative ways, and there is a need to rethink current business models and the way entrepreneurs act to introduce new businesses to address and embed environmental issues in order to achieve sustainable development. In this paper, green or sustainable entrepreneurship is addressed in Iran to identify challenges and barriers entrepreneurs in the economic and social sectors face in developing green business solutions. Sustainable or green entrepreneurship has been gaining interest among scholars in recent years and addressing its challenges and barriers need much more attention to fill the gap in the literature and facilitate the way those entrepreneurs are pursuing. This research comprised of two main phases: qualitative and quantitative. At qualitative phase, after a thorough literature review, fuzzy Delphi method is utilized to verify those challenges and barriers by gathering a panel of experts and surveying them. In this phase, several other contextually related factors were added to the list of identified barriers and challenges mentioned in the literature. Then, at the quantitative phase, Interpretive Structural Modeling is applied to construct a network of interactions among those barriers identified at the previous phase. Again, a panel of subject matter experts comprised of academic and industry experts was surveyed. The results of this study can be used by policymakers in both the public and industry sector, to introduce more systematic solutions to eliminate those barriers and help entrepreneurs overcome challenges of sustainable entrepreneurship. It also contributes to the literature as the first research in this type which deals with the barriers of sustainable entrepreneurship and explores their interaction.Keywords: green entrepreneurship, barriers, fuzzy Delphi method, interpretive structural modeling
Procedia PDF Downloads 1572126 The Importance of Changing the Traditional Mode of Higher Education in Bangladesh: Creating Huge Job Opportunities for Home and Abroad
Authors: M. M. Shahidul Hassan, Omiya Hassan
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Bangladesh has set its goal to reach upper middle-income country status by 2024. To attain this status, the country must satisfy the World Bank requirement of achieving minimum Gross National Income (GNI). Number of youth job seekers in the country is increasing. University graduates are looking for decent jobs. So, the vital issue of this country is to understand how the GNI and jobs can be increased. The objective of this paper is to address these issues and find ways to create more job opportunities for youths at home and abroad which will increase the country’s GNI. The paper studies proportion of different goods Bangladesh exported, and also the percentage of employment in different sectors. The data used here for the purpose of analysis have been collected from the available literature. These data are then plotted and analyzed. Through these studies, it is concluded that growth in sectors like agricultural, ready-made garments (RMG), jute industries and fisheries are declining and the business community is not interested in setting up capital-intensive industries. Under this situation, the country needs to explore other business opportunities for a higher economic growth rate. Knowledge can substitute the physical resource. Since the country consists of the large youth population, higher education will play a key role in economic development. It now needs graduates with higher-order skills with innovative quality. Such dispositions demand changes in a university’s curriculum, teaching and assessment method which will function young generations as active learners and creators. By bringing these changes in higher education, a knowledge-based society can be created. The application of such knowledge and creativity will then become the commodity of Bangladesh which will help to reach its goal as an upper middle-income country.Keywords: Bangladesh, economic sectors, economic growth, higher education, knowledge-based economy, massifcation of higher education, teaching and learning, universities’ role in society
Procedia PDF Downloads 1572125 The Use of Creativity to Nudge Students Into Heutagogy: An Implementation in Graduate Business Education
Authors: Ricardo Bragança, Tom Vinaimont
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This paper discusses the introduction of processes of self-determined learning (heutagogy) into a graduate course on financial modeling, using elements of entangled pedagogy and Biggs’ constructive alignment. To encourage learners to take control of their own learning journey and develop critical thinking and problem-solving skills, each session in the course receives tailor-made media-enhanced pedagogical assets. The design of those assets specifically supports entangled pedagogy, which opposes technological or pedagogical determinism in support of the collaborative integration of pedagogy and technology. Media assets for each of the ten sessions in this course consist of three components. The first component in this three-pronged approach is a game-cut-like cinematographic representation that introduces the context of the session. The second component represents a character from an open-source-styled community that encourages self-determined learning. The third component consists of a character, which refers to the in-person instructor and also aligns learning outcomes and assessment tasks, using Biggs’ constructive alignment, to the cinematographic and open-source-styled component. In essence, the course's metamorphosis helps students apply the concepts they've studied to actual financial modeling issues. The audio-visual media assets create a storyline throughout the course based on gamified and real-world applications, thus encouraging student engagement and interaction. The structured entanglement of pedagogy and technology also guides the instructor in the design of the in-class interactions and directs the focus on outcomes and assessments. The transformation process of this graduate course in financial modeling led to an institutional teaching award in 2021. The transformation of this course may be used as a model for other courses and programs in many disciplines to help with intended learning outcomes integration, constructive alignment, and Assurance of Learning.Keywords: innovative education, active learning, entangled pedagogy, heutagogy, constructive alignment, project based learning, financial modeling, graduate business education
Procedia PDF Downloads 682124 Hand in Hand with Indigenous People Worldwide through the Discovery of Indigenous Entrepreneurial Models: A Systematic Literature Review of International Indigenous Entrepreneurship
Authors: Francesca Croce
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Governmental development strategies aimed at entrepreneurship as a major resource for economic development and poverty reduction of indigenous people. As initiatives and programs are local based, there is a need to better understand the contextual factors of indigenous entrepreneurial models. The purpose of this paper is, therefore, to analyze and integrated the indigenous entrepreneurship literature in order to identify the main models of indigenous entrepreneurship. To answer this need, a systematic literature review was conducted. Relevant articles were identified in selected electronic databases (ABI/Inform Global, Business Source Premier, Web of Science; International Bibliography of the Social Sciences, Academic Search, Sociological Abstract, Entrepreneurial Studies Sources and Bibliography of Native North America) and in selected electronic review. Beginning to 1st January 1995 (first International Day of the World’s Indigenous People), 59 academic articles were selected from 1411. Through systematic analysis of the cultural, social and organizational variables, the paper highlights that a typology of indigenous entrepreneurial models is possible thought the concept of entrepreneurial ecosystem, which includes the geographical position and the environment of the indigenous communities. The results show three models of indigenous entrepreneurship: the urban indigenous entrepreneurship, the semi-urban indigenous entrepreneurship, and rural indigenous entrepreneurship. After the introduction, the paper is organized as follows. In the first part theoretical and practical needs of a systematic literature review on indigenous entrepreneurship are provided. In the second part, the methodology, the selection process and evaluation of the articles are explained. In the third part, findings are presented and each indigenous entrepreneurial model characteristics are discussed. The results of this study bring a new theorization about indigenous entrepreneurship and may be useful for scientists in the field in search of overcoming the cognitive border of Indigenous business models still too little known. Also, the study is addressed to policy makers in charge of indigenous entrepreneurial development strategies more focused on contextual factors studies.Keywords: community development, entrepreneurial ecosystem, indigenous entrepreneurship model, indigenous people, systematic literature review
Procedia PDF Downloads 2722123 Sustainability Reporting and Performances of the Companies in the Istanbul Stock Exchange Sustainability Index
Authors: Zeynep Şahin, Züleyha Yılmaz, Fikret Çankaya
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In today's business world, in which it is difficult to survive, the economic life of products, services or knowledge is considerably reduced. Competitors produce similar products or extra-featured ones instantly. In this environment, the contribution of companies to the social and economic environment is a preferred criterion by consumers alongside products or services. Therefore, consumers need to obtain more detailed information about companies. Besides, this drastic change in the market encourages companies to become sustainable. Sustainable business means the company puts consumed products back. Corporate sustainability, corresponds to sustainability at the level of the company, and gives equal importance to company growth and profitability together with environmental and social issues. The BIST Sustainability Index started to be calculated by the Istanbul Stock Exchange (BIST) in 2014 to evaluate the sustainability performance of companies in Turkey. The main objective of this study is to present the importance of sustainability reports in Turkey. To this aim, the performances of 15 companies in the BIST Sustainability Index were compared the periods before and after entering the index. On the other hand, sustainability reporting practices should be encouraged to increase studies on this issue. In this context, to remain on the agenda of the issue is a further objective of this study. To achieve these objectives, the financial data of the companies in the period before and after entering to the BIST Sustainability Index were analyzed using t-test in Statistical Package for the Social Sciences (SPSS) package. The results of the study showed that no significant difference between the performances of the companies in terms of the net profit margin, the return on assets and equity capital in these periods could be found. Therefore, it can be said that insufficient importance is given to sustainability issues in Turkey. The reasons for this situation might be considered as a lack of awareness due to the recent introduction and calculation of the index. It is expected that the awareness of firms and investors about sustainability will increase, and that they will demonstrate the necessary importance to this issue over time.Keywords: sustainability reporting, sustainability index, firm performance, BIST sustainability index
Procedia PDF Downloads 2692122 Female Entrepreneurship in Transitional Economies: An In-Depth Comparative Study about Challenges Facing Female Entrepreneurs in Nigeria and Egypt
Authors: Dina Mohamed Ayman, Rafieu Akin
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In an attempt to increase the female total entrepreneurial activities (TEA) within Egypt and Nigeria, this paper aims to investigate the challenges facing female entrepreneurs operating in Egypt, in relative to Nigeria. In this regard, both researchers undertook a qualitative approach due to the scarcity of the literature reviewed on the topic; in those particular countries, and as an in-depth comparative mode. Therefore, ten Egyptian entrepreneurs in relative to ten Nigerian entrepreneurs were in-depth investigated. The research findings prove that female entrepreneurs face complex problems for being both gender and country-specific. Regarding the gender-specific obstacles, the work/life imbalance due to the scarcity of child-care nurseries and the prevalence of the gender-role division while performing the house chores rather than the concept of co-operation, acted as a main source of cultural challenge because women are considered mostly as 'housewives'. However, interestingly, this specific gender-discrimination challenge is proven to have no grounded effect in terms of the business-establishment and daily dealings neither in Egypt nor Nigeria, as one of the sample exclaimed 'as long as you pay, then no gender difference is set on the table'. Other country-specific challenges facing female entrepreneurs, lied in, the aggregate weak entrepreneurial framework governing both countries, also, women faced the difficulty of access to financial institutions with collateral requirements that are usually "hardly to be met", besides, the absence of the "micro-credit-Grameen-banks" concept. As well, the scarcity of incubators and business training centers providing network, consultancy and well-trained workforce to female entrepreneurs constitute a major hurdle for women entrepreneurs operating in both countries. Finally, this paper will conclude the research by offering a set of public-policy recommendations to pave the way for females to choose self-employment as a career path.Keywords: entrepreneurship, female entrepreneurship, obstacles, framework conditions, culture, micro-credit
Procedia PDF Downloads 3642121 A Mixed-Method Exploration of the Interrelationship between Corporate Governance and Firm Performance
Authors: Chen Xiatong
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The study aims to explore the interrelationship between corporate governance factors and firm performance in Mainland China using a mixed-method approach. To clarify the current effectiveness of corporate governance, uncover the complex interrelationships between governance factors and firm performance, and enhance understanding of corporate governance strategies in Mainland China. The research involves quantitative methods like statistical analysis of governance factors and firm performance data, as well as qualitative approaches including policy research, case studies, and interviews with staff members. The study aims to reveal the current effectiveness of corporate governance in Mainland China, identify complex interrelationships between governance factors and firm performance, and provide suggestions for companies to enhance their governance practices. The research contributes to enriching the literature on corporate governance by providing insights into the effectiveness of governance practices in Mainland China and offering suggestions for improvement. Quantitative data will be gathered through surveys and sampling methods, focusing on governance factors and firm performance indicators. Qualitative data will be collected through policy research, case studies, and interviews with staff members. Quantitative data will be analyzed using statistical, mathematical, and computational techniques. Qualitative data will be analyzed through thematic analysis and interpretation of policy documents, case study findings, and interview responses. The study addresses the effectiveness of corporate governance in Mainland China, the interrelationship between governance factors and firm performance, and staff members' perceptions of corporate governance strategies. The research aims to enhance understanding of corporate governance effectiveness, enrich the literature on governance practices, and contribute to the field of business management and human resources management in Mainland China.Keywords: corporate governance, business management, human resources management, board of directors
Procedia PDF Downloads 492120 Economic Factors Affecting Greenfield Petroleum Refinery and Petrochemical Projects in Africa
Authors: Daniel Muwooya
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This paper analyses economic factors that have affected the competitiveness of petroleum refinery and petrochemical projects in sub-Saharan Africa in the past and continue to plague greenfield projects today. Traditional factors like plant sizing and complexity, low-capacity utilization, changing regulatory environment, and tighter product specifications have been important in the past. Additional factors include the development of excess refinery capacity in Asia and the growth of renewable sources of energy – especially for transportation. These factors create both challenges and opportunities for the development of greenfield refineries and petrochemical projects in areas of increased demand growth and new low-cost crude oil production – like sub-Saharan Africa. This paper evaluates the strategies available to project developers and host countries to address contemporary issues of energy transition and the apparent reduction of funds available for greenfield oil and gas projects. The paper also evaluates the structuring of greenfield refinery and petrochemical projects for limited recourse project finance bankability. The methodology of this paper includes analysis of current industry data, conference proceedings, academic papers, and academic books on the subjects of petroleum refinery economics, refinery financing, refinery operations, and project finance generally and specifically in the oil and gas industry; evaluation of expert opinions from journal articles; working papers from international bodies like the World Bank and the International Energy Agency; and experience from playing an active role in the development and financing of US$ 10 Billion greenfield oil development project in Uganda. The paper also applies the discounted cash flow modelling to illustrate the circumstances of an inland greenfield refinery project in Uganda. Greenfield refinery and petrochemical projects are still necessary in sub-Saharan Africa to, among other aspirations, support the transition from traditional sources of energy like biomass to such modern forms as liquefied petroleum gas. Project developers and host governments will be required to structure projects that support global climate change goals without occasioning undue delays to project execution.Keywords: financing, refinery and petrochemical economics, Africa, project finance
Procedia PDF Downloads 532119 An Ethnographic Study of Commercial Surrogacy Industry in India
Authors: Dalia Bhattacharjee
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Motherhood as an institution is considered as sacred. Reproduction and motherhood have always been a concern of the private space of home. However, with the emergence of technologies like the Assisted Reproductive Technologies (ARTs), this intimate area has moved into the public. A woman can now become a mother with artificial insemination done by expert medical professionals in a hospital. With this development, the meanings of motherhood and childrearing have altered. Mothers have been divided into ‘ovarian mothers’ (those who provide the eggs), ‘uterine mothers’ (those who carry out the pregnancy and give birth), and ‘social mothers’ (those who raise the child). Thus, the ART business deconstructs motherhood by defining who the biological mother is and who the social mother is and who – despite contributing parts or processes of her body to the life of the child is not a mother, but merely the donor of a product, be it the egg or the womb, which is owned by those who are favoured by the contract. The industry of commercial surrogacy in India has been estimated to be of $2.3 billion as of 2012. There are many women who work as surrogate mothers in this industry for the exchange of money. It runs like a full-fledged business guided by a highly profit oriented capitalist market. The reproductive labourers are identified as mere womb renters or victims and not as active agents in such arrangements. Such a discourse undercuts the agency exercised by the women. The present study is an ethnography into the commercial surrogacy industry in India. This journey furthers the understanding of the dilemmas faced by the reproductive labourers. The paper emphasizes on the experiences of reproduction and motherhood outside the private space of the home in the commercial surrogacy industry in India, and, argues that this multiplicity of experiences need much focus and attention, where, the consumer becomes ‘the’ citizen and the women workers continue to be victims. The study draws on the narratives of the reproductive labourers, who remain at the center, and yet, at the periphery of such arrangements. This feminist ethnography is informed by the feminist standpoint theory to account for and analyse these varied experiences which further the understanding of the dilemmas faced by the reproductive labourers.Keywords: commercial surrogacy, ethnography, motherhood, standpoint theory
Procedia PDF Downloads 2322118 Transforming Data Science Curriculum Through Design Thinking
Authors: Samar Swaid
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Today, corporates are moving toward the adoption of Design-Thinking techniques to develop products and services, putting their consumer as the heart of the development process. One of the leading companies in Design-Thinking, IDEO (Innovation, Design, Engineering Organization), defines Design-Thinking as an approach to problem-solving that relies on a set of multi-layered skills, processes, and mindsets that help people generate novel solutions to problems. Design thinking may result in new ideas, narratives, objects or systems. It is about redesigning systems, organizations, infrastructures, processes, and solutions in an innovative fashion based on the users' feedback. Tim Brown, president and CEO of IDEO, sees design thinking as a human-centered approach that draws from the designer's toolkit to integrate people's needs, innovative technologies, and business requirements. The application of design thinking has been witnessed to be the road to developing innovative applications, interactive systems, scientific software, healthcare application, and even to utilizing Design-Thinking to re-think business operations, as in the case of Airbnb. Recently, there has been a movement to apply design thinking to machine learning and artificial intelligence to ensure creating the "wow" effect on consumers. The Association of Computing Machinery task force on Data Science program states that" Data scientists should be able to implement and understand algorithms for data collection and analysis. They should understand the time and space considerations of algorithms. They should follow good design principles developing software, understanding the importance of those principles for testability and maintainability" However, this definition hides the user behind the machine who works on data preparation, algorithm selection and model interpretation. Thus, the Data Science program includes design thinking to ensure meeting the user demands, generating more usable machine learning tools, and developing ways of framing computational thinking. Here, describe the fundamentals of Design-Thinking and teaching modules for data science programs.Keywords: data science, design thinking, AI, currculum, transformation
Procedia PDF Downloads 702117 Using Business Interactive Games to Improve Management Skills
Authors: Nuno Biga
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Continuous processes’ improvement is a permanent challenge for managers of any organization. Lean management means that efficiency gains can be obtained through a systematic framework able to explore synergies between processes, eliminate waste of time, and other resources. Leaderships in organizations determine the efficiency of the teams through their influence on collaborators, their motivation, and consolidation of ownership (group) feeling. The “organization health” depends on the leadership style, which is directly influenced by the intrinsic characteristics of each personality and leadership ability (leadership competencies). Therefore, it’s important that managers can correct in advance any deviation from expected leadership exercises. Top management teams must assume themselves as regulatory agents of leadership within the organization, ensuring monitoring of actions and the alignment of managers in accordance with the humanist standards anchored in a visible Code of Ethics and Conduct. This article is built around an innovative model of “Business Interactive Games” (BI GAMES) that simulates a real-life management environment. It shows that the strategic management of operations depends on a complex set of endogenous and exogenous variables to the intervening agents that require specific skills and a set of critical processes to monitor. BI GAMES are designed for each management reality and have already been applied successfully in several contexts over the last five years comprising the educational and enterprise ones. Results from these experiences are used to demonstrate how serious games in working living labs contributed to improve the organizational environment by focusing on the evaluation of players’ (agents’) skills, empower its capabilities, and the critical factors that create value in each context. The implementation of the BI GAMES simulator highlights that leadership skills are decisive for the performance of teams, regardless of the sector of activity and the specificities of each organization whose operation is intended to simulate. The players in the BI GAMES can be managers or employees of different roles in the organization or students in the learning context. They interact with each other and are asked to decide/make choices in the presence of several options for the follow-up operation, for example, when the costs and benefits are not fully known but depend on the actions of external parties (e.g., subcontracted enterprises and actions of regulatory bodies). Each team must evaluate resources used/needed in each operation, identify bottlenecks in the system of operations, assess the performance of the system through a set of key performance indicators, and set a coherent strategy to improve efficiency. Through the gamification and the serious games approach, organizational managers will be able to confront the scientific approach in strategic decision-making versus their real-life approach based on experiences undertaken. Considering that each BI GAME’s team has a leader (chosen by draw), the performance of this player has a direct impact on the results obtained. Leadership skills are thus put to the test during the simulation of the functioning of each organization, allowing conclusions to be drawn at the end of the simulation, including its discussion amongst participants.Keywords: business interactive games, gamification, management empowerment skills, simulation living labs
Procedia PDF Downloads 1022116 Management and Marketing Implications of Tourism Gravity Models
Authors: Clive L. Morley
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Gravity models and panel data modelling of tourism flows are receiving renewed attention, after decades of general neglect. Such models have quite different underpinnings from conventional demand models derived from micro-economic theory. They operate at a different level of data and with different theoretical bases. These differences have important consequences for the interpretation of the results and their policy and managerial implications. This review compares and contrasts the two model forms, clarifying the distinguishing features and the estimation requirements of each. In general, gravity models are not recommended for use to address specific management and marketing purposes.Keywords: gravity models, micro-economics, demand models, marketing
Procedia PDF Downloads 4322115 Boosting the Chance of Organizational Change Success: The Role of Individuals’ Goal Orientation, Affectivity and Psychological Capital
Authors: P. P. L. Kwan, D. K. S. Chan
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Organizations are constantly changing in today’s business environment. Research findings have revealed that overcoming resistance and getting employees ready for change is a crucial driver for organizational change success. Thus, change adaptability has become a more prominent selection criterion used in many organizations. Although change readiness could be situation-specific, employees’ personality, emotion, and cognition should also be crucial factors in shaping their readiness. However, relatively little research has focused on the roles of individual characteristics in organizational changes. The present study examines the relations between individual characteristics and change readiness with the aim to validate a model, which proposes three types of individual attributes as antecedents to change readiness. The three attributes considered are trait cynicism, positive affectivity, and personal valence covering personality, emotional, and cognitive aspects respectively. The model also hypothesizes that relations between the three antecedents and change readiness will be moderated by a positive mental resource known as psychological capital (PsyCap), which consists of hope, optimism, efficacy and resilience; and a learning culture within the organization. We are currently collecting data from a targeted sample size of 300 Hong Kong employees. Specifically, participants complete a questionnaire which was designed to measure their perceived change efficacy in response to three scenarios commonly happened in the workplace (i.e., business acquisition, team restructuring, and information system change) as a measure of change readiness, as well as the aforementioned individual characteristics. Preliminary analysis provides some support to the hypotheses. That is, employees who are less cynical in personality and more positive in their cognition and affectivity particularly welcome the potential changes in their organizations. Further data collection and analyses are continuously carried out for a more definitive conclusion. Our findings will shed light on employee selection; and on how strengthening positive psychological resources and promoting the culture of learning organization among employees may enhance the chance to succeed for organizations undergoing change.Keywords: learning organization, psychological capital, readiness for change, employee selection
Procedia PDF Downloads 4592114 Home Made Rice Beer Waste (Choak): A Low Cost Feed for Sustainable Poultry Production
Authors: Vinay Singh, Chandra Deo, Asit Chakrabarti, Lopamudra Sahoo, Mahak Singh, Rakesh Kumar, Dinesh Kumar, H. Bharati, Biswajit Das, V. K. Mishra
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The most widely used feed resources in poultry feed, like maize and soybean, are expensive as well as in short supply. Hence, there is a need to utilize non-conventional feed ingredients to cut down feed costs. As an alternative, brewery by-products like brewers’ dried grains are potential non-conventional feed resources. North-East India is inhabited by many tribes, and most of these tribes prepare their indigenous local brew, mostly using rice grains as the primary substrate. Choak, a homemade rice beer waste, is an excellent and cheap source of protein and other nutrients. Fresh homemade rice beer waste (rice brewer’s grain) was collected locally. The proximate analysis indicated 28.53% crude protein, 92.76% dry matter, 5.02% ether extract, 7.83% crude fibre, 2.85% total ash, 0.67% acid insoluble ash, 0.91% calcium, and 0.55% total phosphorus. A feeding trial with 5 treatments (incorporating rice beer waste at the inclusion levels of 0,10,20,30 & 40% by replacing maize and soybean from basal diet) was conducted with 25 laying hens per treatment for 16 weeks under completely randomized design in order to study the production performance, blood-biochemical parameters, immunity, egg quality and cost economics of laying hens. The results showed substantial variations (P<0.01) in egg production, egg mass, FCR per dozen eggs, FCR per kg egg mass, and net FCR. However, there was not a substantial difference in either body weight or feed intake or in egg weight. Total serum cholesterol reduced significantly (P<0.01) at 40% inclusion of rice beer waste. Additionally, the egg haugh unit grew considerably (P<0.01) when the graded levels of rice beer waste increased. The inclusion of 20% rice brewers dried grain reduced feed cost per kg egg mass and per dozen egg production by Rs. 15.97 and 9.99, respectively. Choak (homemade rice beer waste) can thus be safely incorporated into the diet of laying hens at a 20% inclusion level for better production performance and cost-effectiveness.Keywords: choak, rice beer waste, laying hen, production performance, cost economics
Procedia PDF Downloads 512113 A Study on the Interest of Muslims towards Syariah Bank in Yogyakarta, Indonesia
Authors: Muhammad Hikmah
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Based on the population census in 2015, Indonesia consists of 254.9 millions of people, and 80% of them are Muslims (Data of Central Bureau of Statistic). Indonesia becomes the highest number of Muslims civilization in the world. The question would be, is the number of population proportional to the growth of Syariah transaction in Indonesia? It is going to be discussed in this research. The problem limitation of this research is in Syariah Banking. Therefore, Syariah transaction in this study is described as transaction only in Syariah Banking. The researcher focused on the study in Yogyakarta, a city in Indonesia. The development of Syariah Bank assets until January 2016, based on statistic data launched by Financial Services Authority (FSA), has increased Rp 287.44 trillion, however, a total amount of bank achieves Rp 6.198,15 trillions. It means that the assets of Syariah Bank are only 4.64% from the total amount of banking assets in Indonesia, though, Syariah Banking was first established in 1991, known as Bank Muamalat. As we can see that in these 25 years, Syariah Banking could only reach that number. Based on the press conference of FSA and Syariah Banking Exhibition iB Vaganza in 2015, the number of Syariah Bank’s customers are under 10 millions. With 80% of Muslims, Syariah Bank is not able to be a market leader in Indonesia. This will be answered in this research, how much the interest if Muslims in Yogyakarta towards Syariah Bank compared to conventional bank. This study will be conducted in Yogyakarta. The sampling will represent to the muslims having good knowledge of Islam, such as dawn prayer worshipers in some mosques in Yogyakarta. There are some reasons why Indonesian muslims are not interested in Syariah Bank, such as the people do not put trust in Syariah Bank; there are some obligation where they work to have conventional bank; business matters services which is not covered by Syariah Bank where most of them are limited to the laws authorities; and there is no sufficient knowledge about the importance of syariah transaction from religion point of view. Each of them is going to be discussed in this research. The suggestions of this study are we should share our knowledge about Islamic transaction anywhere and we need to support Syariah Bank to have Syariah principles. For those who have the authority should be active as well to announce the rules of the constitution supporting the development of syariah transaction in order to be apply perfectly. We hope that trust from the people will increase, and we should provide Syariah Banking products which fulfill business needs. Finally, syariah transaction will be the solution for all people in the world in bussiness transaction.Keywords: shariah, Islamic, banking, Indonesia
Procedia PDF Downloads 3492112 Designing Short-Term Study Abroad Programs for Graduate Students: The Case of Morocco
Authors: Elaine Crable, Amit Sen
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Short-term study abroad programs have become a mainstay of MBA programs. The benefits of international business experiences, along with its exposure to global cultures, are well documented. However, developing a rewarding study, abroad program at the graduate level can be challenging for Faculty, especially when devising such a program for a group of part-time MBA students who come with a wide range of experiences and demographic characteristics. Each student has individual expectations for the study abroad experience. This study provides suggestions and considerations for Faculty that are planning to design a short-term study abroad program, especially for part-time MBA students. Insights are based on a recent experience leading a group of twenty-one students on a ten-day program to Morocco. The trip was designed and facilitated by two faculty members and a local Moroccan facilitator. This experience led to a number of insights and recommendations. First, the choice of location is critical. The choice of Morocco was very deliberate, owing to its multi-faceted cultural landscape and international business interest. It is an Islamic State with close ties to Europe both culturally and geographically and Morocco is a multi-lingual country with some combination of three languages spoken by most – English, Arabic, and French. Second, collaboration with a local ‘academic’ partner allowed the level of instruction to be both rigorous and significantly more engaging. Third, allowing students to participate in the planning of the trip enabled the trip participants to collaborate, negotiate, and share their own experiences and strengths. The pre-trip engagement was structured by creating four sub-groups, each responsible for an assigned city. Each student sub-group had to provide a historical background of the assigned city, plan the itinerary including sites to visit, cuisine to experience, industries to explore, markets to visit, plus provide a budget for that city’s expenses. The pre-planning segment of the course was critical for the success of the program as students were able to contribute to the design of the program through collaboration and negotiation with their peers. Fourth, each student sub-group was assigned industry to study within Morocco. The student sub-group prepared a presentation and a group paper with their analysis of the chosen industries. The pre-planning activities created strong bonds among the trip participants, which was evident when faced with on-ground challenges, especially when it was necessary to quickly evacuate due to a surprise USA COVID evacuation notice. The entire group supported each other when quickly making their way back to the United States. Unfortunately, the trip was cut short by two days due to this emergency exit, but the feedback regarding the program was very positive all around. While the program design put pressure on the Faculty leads regarding planning and coordination upfront, the outcome in terms of student engagement, student learning, collaboration and negotiation were all favorable and worth the effort. Finally, an added value, the cost of the program for the student was significantly lower compared to running a program with a professional provider.Keywords: business education, experiential learning, international education, study abroad
Procedia PDF Downloads 1632111 Changing the Traditional Role of CFOs
Authors: Seyedmohammad Mousavian
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Technological advancements are becoming unprecedentedly dominant everywhere. This dominance requires drastic chTechnological advancements are becoming unprecedentedly dominant everywhere. This dominance requires drastic changes in traditional thinking, procedures, and responsibilities. Chief Financial Officers (CFOs) have long played a key role in every organization around the globe and must adapt themselves to the disruptive technology which brings positive and negative points. This paper will discuss the shift of the traditional role of CFOs from just reporting toward more innovative roles like “Storytelling”, business partnering, and strategic planning.Keywords: accounting information system, technology, data, CFO, finance
Procedia PDF Downloads 1362110 Golf Industry in China: An Examination in the Reason behind Its Underdevelopment
Authors: Haoqiang Zhang
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Golf is usually defined as “a sport for the wealthy” in China. With relatively few people playing golf and having only two professional golf players nationwide, China is lagging in adopting golf as a sport. The current research used a literature review to examine the political and educational reasons behind this phenomenon. In addition, the current study compared the sports education system between U.S. and China and showed its significant role in adopting sports like golf. Lastly, the current research proposed hypothetical solutions from the educational and societal perspective on how to make China adopt golf as a global sport.Keywords: golf education, golf in China, sports economics, sports education
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