Search results for: Libyan manufacturing companies

Authors: Nasser Alsadoun

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Today's companies in Saudi Arabian capital market must comply with strict criteria and adhere to rigid corporate governance rules and continuous disclosure requirements. Unlike other regulators in the region, decision makers of the Capital Market Authority (hereafter CMA) of Saudi Arabia believes that the announcements of economic sanctions and penalties for non-compliance firms will foster more effective regulatory compliance and hence improve the quality of financial reporting. An implied argument put forward by the opponents, however, states that such penalties are unnecessary and stated to be onerous for non-compliance firms. Over that last years, the CMA has publicly announced several economic fines levied on some listed companies for their failing to comply with corporate governance and continuous disclosure regulation clauses, with the amount of fine levied ranges between 50,000 SR to 100,000 SR for each failing. Economic theory suggests that rational investors make decisions based on a cost-benefit principal. The regulatory intervention made by CMA on the announcement of economic sanctions has been costly to the society (economy) hoping that it improves the transparency of financial statements. It is argued, therefore, that threat of regulators and economic sanctions will provide incentives for firms’ managers to report more relevant and reliable accounting information, and the benefit of such announcements is likely to be reflected in the context of the quality of the financial reports. Yet, the economic consequences of the revealed fines announcement for non-compliance firms in Saudi Arabian market have not been examined. Thus, this study attempts to empirically examine whether market participants are pricing the supposed benefits of rigid governance and disclosure rules in the Saudi market. The study employs an event study methodology to assess the impact of CMA economic sanctions announcements on the market price of non-compliance firms. The study also estimates and examines bid–ask spread behavior of violated firms around the CMA announcements. The findings indicate that the CMA fines announcements for failing to comply with governance and disclosure rules do not appear to play any significant role in securities pricing. In addition, tests of bid-ask behavior does not indicate any significant increases in information asymmetry surrounding these announcements. While the CMA has developed many goals to increase the awareness of listed companies with the best governance and disclosure practices, it seems they have to develop more goals to improve market efficiency and increase investors and public awareness.

Keywords: governance and disclosure violations, financial reporting quality, regulatory intervention, market efficiency

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Authors: Fayza M. Obied-Allah

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Customer’ needs, quality, and value creation while reducing costs through supply chain management provides challenges and opportunities for companies and researchers. In the light of these challenges, modern ideas must contribute to counter these challenges and exploit opportunities. Perhaps this paper will be one of these contributions. This paper discusses the impact of the quality cost on revenue sharing as a most important incentive to configure business networks. No doubt that the costs directly affect the size of income generated by a business network, so this paper investigates the impact of quality costs on business networks revenue, and their impact on the decision to participate the revenue among the companies in the supply chain. This paper develops the quality cost approach to align with the modern era, the developed model includes five categories besides the well-known four categories (namely prevention costs, appraisal costs, internal failure costs, and external failure costs), a new category has been developed in this research as a new vision of the relationship between quality costs and innovations of industry. This new category is Recycle Cost. This paper is organized into six sections, Section I shows quality costs overview in the supply chain. Section II discusses revenue sharing between the parties in supply chain. Section III investigates the impact of quality costs in revenue sharing decision between partners in supply chain. The fourth section includes survey study and presents statistical results. Section V discusses the results and shows future opportunities for research. Finally, Section VI summarizes the theoretical and practical results of this paper.

Keywords: quality cost, recycle cost, revenue sharing, supply chain management

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Authors: David E. Esezobor, Friday I. Apeh, Harrison O. Onovo, Ademola A. Agbeleye

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Available indigenous refractory bricks in Nigeria can only be used in the lining of furnaces for melting of cast iron operating at less than 1,400°C or in preheating furnaces due to their low refractoriness less than 1,500°C. The bricks crack and shatter on heating at 1350 to 1450°C. In this paper, a simple and adaptable technology of manufacturing high-quality refractory bricks from selected Nigerian clays for furnace linings was developed. Fireclays from Onibode, Owode-Ketu in Ogun State and Kwoi in Kaduna State were crushed, ground, and sieved into various grain sizes using standard techniques. The pulverized clays were blended with alumina in various mix ratios and indurated in the furnace at 900 – 16000C. Their chemical, microstructure and mineralogical properties were characterized using atomic absorption spectrophotometry, scanning electron microscopy and x-ray diffraction spectrometry respectively. The mineralogical and spectrochemical analyses suggested that the clays are of siliceous alumino-silicate and acidic in nature. The appropriate blending of fireclays with alumina provided the tremendous improvement in the refractoriness of the bricks and other acceptable service properties comparable with imported refractory bricks. The change in microstructure from pseudo-hexagonal grains to equiaxed grains of well – ordered sequence of structural layers could be responsible for the improved properties.

Keywords: alumina, furnace, industry, manufacturing, refractoriness

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Authors: Rania S. Hussein

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Background: This study aims to determine the evolution of service provision by Egyptian travel sites and how these services change in terms of their level of sophistication over the period of the study which is ten years. To the author’s best knowledge, this is the first longitudinal study that focuses on an extended time frame of ten years. Additionally, the study attempts to determine the popularity of these websites through the number of links to these sites. Links maybe viewed as the equivalent of a referral or word of mouth but in an online context. Both popularity and the nature of the services provided by these websites are used to determine the traffic on these sites. In examining the nature of services provided, the website itself is viewed as an overall service offering that is composed of different travel products and services. Method: This study uses content analysis in the form of a small scale survey done on 30 Egyptian travel agents’ websites to examine whether Egyptian travel websites are static or dynamic in terms of the services that they provide and whether they provide simple or sophisticated travel services. To determine the level of sophistication of these travel sites, the nature and composition of products and services offered by these sites were first examined. A framework adapted from Kotler (1997) 'Five levels of a product' was used. The target group for this study consists of companies that do inbound tourism. Four rounds of data collection were conducted over a period of 10 years. Two rounds of data collection were made in 2004 and two rounds were made in 2014. Data from the travel agents’ sites were collected over a two weeks period in each of the four rounds. Besides collecting data on features of websites, data was also collected on the popularity of these websites through a software program called Alexa that showed the traffic rank and number of links of each site. Regression analysis was used to test the effect of links and services on websites as independent variables on traffic as the dependent variable of this study. Findings: Results indicate that as companies moved from having simple websites with basic travel information to being more interactive, the number of visitors illustrated by traffic and the popularity of those sites increase as shown by the number of links. Results also show that travel companies use the web much more for promotion rather than for distribution since most travel agents are using it basically for information provision. The results of this content analysis study taps on an unexplored area and provide useful insights for marketers on how they can generate more traffic to their websites by focusing on developing a distinctive content on these sites and also by focusing on the visibility of their sites thus enhancing the popularity or links to their sites.

Keywords: levels of a product, popularity, travel, website evolution

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Authors: Ola Jon Mork, Lars Andre Giske, Emil Bjørlykhaug

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Stabilization of critical processes in order to have the right quality of the products, more efficient production and smoother flow is a key issue in lean production. This paper presents how simulation of key welding processes can stabilize complicated welding processes in small scale production, and how simulation can impact the entire production concept seen from the perspective of lean production. First, a field study was made to learn the production processes in the factory, and subsequently the field study was transformed into a value stream map to get insight into each operation, the quality issues, operation times, lead times and flow of materials. Valuable practical knowledge of how the welding operations were done by operators, appropriate tools and jigs, and type of robots that could be used, was collected. All available information was then implemented into a simulation environment for further elaboration and development. Three researchers, the management of the company and skilled operators at the work floor where working on the project over a period of eight months, and a detailed description of the process was made by the researchers. The simulation showed that simulation could solve a number of technical challenges, the robot program can be tuned in off line mode, and the design and testing of the robot cell could be made in the simulator. Further on the design of the product could be optimized for robot welding and the jigs could be designed and tested in simulation environment. This means that a key issue of lean production can be solved; the welding operation will work with almost 100% performance when it is put into real production. Stabilizing of one key process is critical to gain control of the entire value chain, then a Takt Time can be established and the focus can be directed towards the next process in the production which should be stabilized. Results show that industrial parameters like welding time, welding cost and welding quality can be defined on the simulation stage. Further on, this gives valuable information for calculation of the factories business performance, like manufacturing volume and manufacturing efficiency. Industrial impact from simulation is more efficient implementation of lean manufacturing, since the welding process can be stabilized. More research should be done to gain more knowledge about simulation as a tool for implementation of lean, especially where there complex processes.

Keywords: simulation, lean, stabilization, welding process

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Authors: Johan Esbach

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The entrepreneur has traditionally been defined through various historical lenses, emphasising individual traits, risk-taking, speculation, innovation and firm creation. However, these definitions often fail to address the dynamic nature of the modern entrepreneurial functions, which respond to unpredictable uncertainties and transition to routine management as certainty is achieved. This paper proposes a revised definition, positioning the entrepreneur as a dynamic function rather than a human construct, that emerges to address specific uncertainties in economic systems, but fades once uncertainty is resolved. By examining historical definitions and its limitations, including the works of Cantillon, Say, Schumpeter, and Knight, this paper identifies a gap in literature and develops a generalised definition for the entrepreneur. The revised definition challenges conventional thought by shifting focus from static attributes such as alertness, traits, firm creation, etc., to a dynamic role that includes reliability, adaptation, scalability, and adaptability. The methodology of this paper employs a mixed approach, combining theoretical analysis and case study examination to explore the dynamic nature of the entrepreneurial function in relation to uncertainty. The selection of case studies includes companies like Airbnb, Uber, Netflix, and Tesla, as these firms demonstrate a clear transition from entrepreneurial uncertainty to routine certainty. The data from the case studies is then analysed qualitatively, focusing on the patterns of entrepreneurial function across the selected companies. These results are then validated using quantitative analysis, derived from an independent survey. The primary finding of the paper will validate the entrepreneur as a dynamic function rather than a static, human-centric role. In considering the transition from uncertainty to certainty in companies like Airbnb, Uber, Netflix, and Tesla, the study shows that the entrepreneurial function emerges explicitly to address market, technological, or social uncertainties. Once these uncertainties are resolved and a certainty in the operating environment is established, the need for the entrepreneurial function ceases, giving way to routine management and business operations. The paper emphasises the need for a definitive model that responds to the temporal and contextualised nature of the entrepreneur. In adopting the revised definition, the entrepreneur is positioned to play a crucial role in the reduction of uncertainties within economic systems. Once the uncertainties are addressed, certainty is manifested in new combinations or new firms. Finally, the paper outlines policy implications for fostering environments that enables the entrepreneurial function and transition theory.

Keywords: dynamic function, uncertainty, revised definition, transition

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Authors: Vincent Jones

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The North African country of Libya is in crisis and is currently a humanitarian disaster. The current American ‘hands off’ foreign policy appear to have contributed to this crisis. The research upon which this paper is based focused on a qualitative analysis of migration to Libya and its history with slavery, current conditions that have contributed to the re-emergence of slavery, an analysis of available resources in the effected region, and an analysis of legal remedies pursuant to international law. In addition, a qualitative analysis of American foreign policy from the Reagan Administration through the current Trump administration has been a focus of analysis. The major findings of this research are: (1) Since the removal of Muammar Gadhafi, a move that the United States played a major role in achieving, the nation of Libya has been in free fall and the rule of law has all but disappeared. As a major port stop for refugees and migrants fleeing atrocities in sub-Saharan African states, Libya has become the gate way to European ports of asylum. The problem is these migrant refugees are unwanted, caught between rival and often ineffective governments, profiteers, and inaction from the international community. (2) The outlook for these refugees is bleak: the ineffective government of Libya is ill-equipped to handle the large influx, European refugee destination states like Italy and Greece are already overburdened by the Syrian refugee crisis and are reluctant to accept more refugees, leaving the powerful and armed Libyan militia in control of a situation that is ripe for exploitation. (3) The combined intervention of the international community, led by a newly committed and engaged American foreign policy. In conclusion, a new American foreign policy approach along with the active engagement of the United Nations, EU, and the African Union can effectively resolve this humanitarian crisis.

Keywords: slavery, Libya, migrants, slave auction

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Authors: Monica Plechero

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Many firms belonging to Italian industrial districts faced a crisis starting from 2000 and upsurging during 2008-2014. To remain competitive in the global market, these firms and their local systems need to renovate their traditional competitive advantages, strengthen their link with global flows of knowledge. This may be particularly relevant in sectors such as the mechatronics, that combine traditional knowledge domain with new knowledge domains (e.g. mechanics, electronics, and informatics). This sector is nowadays one of the key sectors within the so-called ‘smart specialization strategy’ that can lead part of the Italian traditional industry towards new economic developmental opportunities. This paper, by investigating the mechatronics district of the Veneto region, wants to shed new light on how firms of a local system can gain from the globalization of innovation and innovation networks. Methodologically, the paper relies on primary data collected through a survey targeting firms of the local system, as well as on a number of qualitative case studies. The relevant role of medium size companies in the district emerges as evident, as they have wider opportunities to be involved in different processes of globalization of innovation. Indeed, with respect to small companies, the size of medium firms allows them to exploit strategically international markets and globally distributed knowledge. Supporting medium firms’ global innovation strategies, and incentivizing their role as district gatekeepers, may strengthen the competitive capability of the local system and provide new opportunities to positively face global competition.

Keywords: global innovation network, industrial district, internationalization, innovation, mechatronics, Veneto region

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Authors: Biao Sun, Tejas Bhatelia, Vishnu Pareek, Ranjeet Utikar, Moses Tadé

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Additive manufacturing (AM), commonly known as 3D printing, with the continuing advances in parallel processing and computational modeling, has created a paradigm shift (with significant radical thinking) in the design and operation of chemical processing plants, especially LNG plants. With the rising energy demands, environmental pressures, and economic challenges, there is a continuing industrial need for disruptive technologies such as AM, which possess capabilities that can drastically reduce the cost of manufacturing and operations of chemical processing plants in the future. However, the continuing challenge for 3D printing is its lack of adaptability in re-designing the process plant equipment coupled with the non-existent theory or models that could assist in selecting the optimal candidates out of the countless potential fabrications that are possible using AM. One of the most common packings used in the LNG process is structured packing in the packed column (which is a unit operation) in the process. In this work, we present an example of an optimum strategy for the application of AM to this important unit operation. Packed columns use a packing material through which the gas phase passes and comes into contact with the liquid phase flowing over the packing, typically performing the necessary mass transfer to enrich the products, etc. Structured packing consists of stacks of corrugated sheets, typically inclined between 40-70° from the plane. Computational Fluid Dynamics (CFD) was used to test and model various geometries to study the governing hydrodynamic characteristics. The results demonstrate that the costly iterative experimental process can be minimized. Furthermore, they also improve the understanding of the fundamental physics of the system at the multiscale level. SpiroPak, patented by Curtin University, represents an innovative structured packing solution currently at a technology readiness level (TRL) of 5~6. This packing exhibits remarkable characteristics, offering a substantial increase in surface area while significantly enhancing hydrodynamic and mass transfer performance. Recent studies have revealed that SpiroPak can reduce pressure drop by 50~70% compared to commonly used commercial packings, and it can achieve 20~50% greater mass transfer efficiency (particularly in CO2 absorption applications). The implementation of SpiroPak has the potential to reduce the overall size of columns and decrease power consumption, resulting in cost savings for both capital expenditure (CAPEX) and operational expenditure (OPEX) when applied to retrofitting existing systems or incorporated into new processes. Furthermore, pilot to large-scale tests is currently underway to further advance and refine this technology.

Keywords: Additive Manufacturing (AM), 3D printing, Computational Fluid Dynamics (CFD, structured packing (SpiroPak)

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Authors: Saifullah Karimullah

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Additive manufacturing techniques are becoming more common with the latest technological advancements. It is composed to bring a revolution in the way products are designed, planned, manufactured, and distributed to end users. Fused deposition modeling (FDM) based 3D printing is one of those promising aspects that have revolutionized the prototyping processes. The purpose of this design and study project is to design a customized laboratory-scale FDM-based 3D printer from locally available sources. The primary goal is to design and fabricate the FDM-based 3D printer. After the fabrication, a tensile test specimen would be designed in Solid Works or [Creo computer-aided design (CAD)] software. A .stl file is generated of the tensile test specimen through slicing software and the G-codes are inserted via a computer for the test specimen to be printed. Different parameters were under studies like printing speed, layer thickness and infill density of the printed object. Some parameters were kept constant such as temperature, extrusion rate, raster orientation etc. Different tensile test specimens were printed for a different sets of parameters of the FDM-based 3d printer. The tensile test specimen were subjected to tensile tests using a universal testing machine (UTM). Design Expert software has been used for analyses, So Different results were obtained from the different tensile test specimens. The best, average and worst specimen were also observed under a compound microscope to investigate the layer bonding in between.

Keywords: additive manufacturing techniques, 3D printing, CAD software, UTM machine

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Authors: Aline Valverde Arroteia, Tatiana Gondim do Amaral, Silvio Burrattino Melhado

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During the last twenty years, the construction field in Brazil has evolved significantly in response to its market growing and competitiveness. However, this evolving path has faced many obstacles such as cultural barriers and the lack of efforts to achieve quality at the construction site. At the same time, the greatest amount of information generated on the designing or construction phases is lost due to the lack of an effective coordination of these activities. Face this problem, the aim of this research was to implement a French method named PEO which means preparation for building construction (in Portuguese) seeking to understand the design management process and its interface with the building construction phase. The research method applied was qualitative, and it was carried out through two case studies in the city of Goiania, in Goias, Brazil. The research was divided into two stages called pilot study at Company A and implementation of PEO at Company B. After the implementation; the results demonstrated the PEO method's effectiveness and feasibility while a booster on the quality improvement of design management. The analysis showed that the method has a purpose to improve the design and allow the reduction of failures, errors and rework commonly found in the production of buildings. Therefore, it can be concluded that the PEO is feasible to be applied to real estate and building companies. But, companies need to believe in the contribution they can make to the discovery of design failures in conjunction with other stakeholders forming a construction team. The result of PEO can be maximized when adopting the principles of simultaneous engineering and insertion of new computer technologies, which use a three-dimensional model of the building with BIM process.

Keywords: communication, design and construction interface management, preparation for building construction (PEO), proactive coordination (CPA)

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Authors: Brahim Bellali, Fatima Bellali

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The integration of information technology systems (ITS) into a company's human resources processes seems to be the appropriate solution to the problem of evolving and adapting its human resources management practices in order to be both more strategic and more efficient in terms of costs and service quality. In this context, the aim of this work is to study the impact of information technology systems (ITS) on the recruitment process. In this study, we targeted candidates who had recruited using IT tools. The target population consists of 34 candidates based in Casablanca, Morocco. In order to collect the data, a questionnaire had to be drawn up. The survey is based on a data sheet and a questionnaire that is divided into several sections to make it more structured and comprehensible. The results show that the majority of respondents say that companies are making greater use of online CV libraries and social networks as digital solutions during the recruitment process. The results also show that 50% of candidates say that the use of digital tools by companies would not slow them down when applying for a job and that these IT tools improve manual recruitment processes, while 44.1% think that they facilitate recruitment without any human intervention. The majority of respondents (52.9%) think that social networks are the digital solutions most often used by recruiters in the sourcing phase. The constraints of digital recruitment encountered are the dehumanization of human resources (44.1%) and the limited interaction during remote interviews (44.1%), which leaves no room for informal exchanges. Digital recruitment can be a highly effective strategy for finding qualified candidates in a variety of fields. Here are a few recommendations for optimizing your digital recruitment process: (1) Use online recruitment platforms: LinkedIn, Twitter, and Facebook ; (2) Use applicant tracking systems (ATS) ; (3) Develop a content marketing strategy.

Keywords: IT systems, recruitment, challenges, constraints

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Authors: Maximilian Elsen, Frank Tietze

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The development and diffusion of green technologies are crucial for achieving our ambitious climate targets. The Paris Agreement commits its members to develop strategies for achieving net zero greenhouse gas emissions by the second half of the century. Governments, executives, and academics are working on net-zero strategies and the business of rating organisations on their environmental, social and governance (ESG) performance has grown tremendously in its public interest. ESG data is now commonly integrated into traditional investment analysis and an important factor in investment decisions. Creating these metrics, however, is inherently challenging as environmental and social impacts are hard to measure and uniform requirements on ESG reporting are lacking. ESG metrics are often incomplete and inconsistent as they lack fully accepted reporting standards and are often of qualitative nature. This study explores the use of patent data for assessing the environmental performance of companies by focusing on their patented inventions in the space of climate change mitigation and adaptation technologies (CCMAT). The present study builds on the successful identification of CCMAT patents. In this context, the study adopts the Y02 patent classification, a fully cross-sectional tagging scheme that is fully incorporated in the Cooperative Patent Classification (CPC), to identify Climate Change Adaptation Technologies. The Y02 classification was jointly developed by the European Patent Office (EPO) and the United States Patent and Trademark Office (USPTO) and provides means to examine technologies in the field of mitigation and adaptation to climate change across relevant technologies. This paper develops sustainability-related metrics for firm-level patent portfolios. We do so by adopting a three-step approach. First, we identify relevant CCMAT patents based on their classification as Y02 CPC patents. Second, we examine the technological strength of the identified CCMAT patents by including more traditional metrics from the field of patent analytics while considering their relevance in the space of CCMAT. Such metrics include, among others, the number of forward citations a patent receives, as well as the backward citations and the size of the focal patent family. Third, we conduct our analysis on a firm level by sector for a sample of companies from different industries and compare the derived sustainability performance metrics with the firms’ environmental and financial performance based on carbon emissions and revenue data. The main outcome of this research is the development of sustainability-related metrics for firm-level environmental performance based on patent data. This research has the potential to complement existing ESG metrics from an innovation perspective by focusing on the environmental performance of companies and putting them into perspective to conventional financial performance metrics. We further provide insights into the environmental performance of companies on a sector level. This study has implications of both academic and practical nature. Academically, it contributes to the research on eco-innovation and the literature on innovation and intellectual property (IP). Practically, the study has implications for policymakers by deriving meaningful insights into the environmental performance from an innovation and IP perspective. Such metrics are further relevant for investors and potentially complement existing ESG data.

Keywords: climate change mitigation, innovation, patent portfolios, sustainability

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Authors: Yongxin Chen, Min Zhang

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As industrial enterprises are the primary source of national pollution, environmental information disclosure is a crucial way to demonstrate to stakeholders the work they have done in fulfilling their environmental responsibilities and accepting social supervision. In the era of the digital economy, many companies, actively embracing the opportunities that come with digital transformation, have begun to apply digital technology to information collection and disclosure within the enterprise. However, less is known about the relationship between digital transformation and environmental disclosure. This study investigates how enterprise digital transformation affects environmental disclosure in 643 Chinese industrial companies, according to information processing theory. What is intriguing is that the depth (size) and breadth (diversity) of environmental disclosure linearly increase with the rise in the collection, processing, and analytical capabilities in the digital transformation process. However, the volume of data will grow exponentially, leading to a marginal increase in the economic and environmental costs of utilizing, storing, and managing data. In our empirical findings, linearly increasing benefits and marginal costs create a unique inverted U-shaped relationship between the degree of digital transformation and environmental disclosure in the Chinese industrial sector. Besides, based on the upper echelons theory, we also propose that the top management team with high stability and managerial capabilities will invest more effort and expense into improving environmental disclosure quality, lowering the carbon footprint caused by digital technology, maintaining data security etc. In both these contexts, the increasing marginal cost curves would become steeper, weakening the inverted U-shaped slope between DT and ED.

Keywords: digital transformation, environmental disclosure, the top management team, information processing theory, upper echelon theory

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Authors: Sandip Suman

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Mechanical defects (cracks, voids, irregularities) in rocket motor propellant are not new and it is induced due to various reasons, which could be an improper manufacturing process, lot-to-lot variation in chemicals or just the natural aging of the products. These defects are normally identified during the examination of radiographic films by quality inspectors. However, a lot of times, these defects are under or over-classified by human inspectors, which leads to unpredictable performance during lot acceptance tests and significant economic loss. The human eye can only visualize larger cracks and defects in the radiographs, and it is almost impossible to visualize every small defect through the human eye. A different artificial intelligence-based machine vision methodology has been proposed in this work to identify and classify the structural defects in the radiographic films of rocket motors with solid propellant. The proposed methodology can extract the features of defects, characterize them, and make intelligent decisions for acceptance or rejection as per the customer requirements. This will automatize the defect detection process during manufacturing with human-like intelligence. It will also significantly reduce production downtime and help to restore processes in the least possible time. The proposed methodology is highly scalable and can easily be transferred to various products and processes.

Keywords: artificial intelligence, machine vision, defect detection, rocket motor propellant grains

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Authors: Samuel Ato Dadzie

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The objective of this study is to examine the influence of eclectic paradigm on motivational strategy of foreign subsidiaries in Ghana. This study uses binary regression model, and the analysis was based on 75 manufacturing investments made by MNEs from different countries in 1994–2008. The results indicated that perceived market size increases the probability of foreign firms undertaking a market seeking (MS) in Ghana, while perceived cultural distance between Ghana and foreign firm’s home countries decreased the probability of foreign firms undertaking an market seeking (MS) foreign direct investment (FDI) in Ghana. Furthermore, extensive international experience decreases the probability of foreign firms undertaking a market seeking (MS) foreign direct investment (FDI) in Ghana. Most of the studies done by earlier researchers were based on the advanced and emerging countries and offered support for the theory, which was used in generalizing the result that multinational corporations (MNCs) normally used the theory regarding investment strategy outside their home country. In using the same theory in the context of Ghana, the result does not offer strong support for the theory. This means that MNCs that come to Sub-Sahara Africa cannot rely much on eclectic paradigm for their motivational strategies because prevailing economic conditions in Ghana are different from that of the advanced and emerging economies where the institutional structures work.

Keywords: foreign subsidiary, motives, Ghana, foreign direct investment

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Authors: Raveena Naz

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The concept of ‘Corporate Social Responsibility’ (CSR) has often relied on firms thinking beyond their economic interest despite the larger debate of shareholder versus stakeholder interest. India gave legal recognition to CSR in the Companies Act, 2013 which promises better corporate governance. CSR in India is believed to be different for two reasons: the dominance of family business and the history of practice of social responsibility as a form of philanthropy (mainly among the family business). This paper problematises the actual structure of business houses in India and the role of CSR in India. When the law identifies each company as a separate business entity, the economics of institutions emphasizes the ‘business group’ consisting of a plethora of firms as the institutional organization of business. The capital owned or controlled by the family group is spread across the firms through the interholding (interlocked holding) structures. This creates peculiar implications for CSR legislation in India. The legislation sets criteria for individual firms to undertake liability of mandatory CSR if they are above a certain threshold. Within this framework, the largest family firms which are all part of family owned business groups top the CSR expenditure list. The interholding structures, common managers, auditors and series of related party transactions among these firms help the family to run the business as a ‘family business’ even when the shares are issued to the public. This kind of governance structure allows family owned business group to show mandatory compliance of CSR even when they actually spend much less than what is prescribed by law. This aspect of the family firms is not addressed by the CSR legislation in particular or corporate governance legislation in general in India. The paper illustrates this with an empirical study of one of the largest family owned business group in India which is well acclaimed for its CSR activities. The individual companies under the business group are identified, shareholding patterns explored, related party transactions investigated, common managing authorities are identified; and assets, liabilities and profit/loss accounting practices are analysed. The data has been mainly collected from mandatory disclosures in the annual reports and financial statements of the companies within the business group accessed from the official website of the ultimate controlling authority. The paper demonstrates how the business group through these series of shareholding network reduces its legally mandated CSR liability. The paper thus indicates the inadequacy of CSR legislation in India because the unit of compliance is an individual firm and it assumes that each firm is independent and only connected to each other through market dealings. The law does not recognize the inter-connections of firms in corporate governance structures of family owned business group and hence is inadequate in its design to effect the threshold level of CSR expenditure. This is the central argument of the paper.

Keywords: business group, corporate governance, corporate social responsibility, family firm

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Authors: Taru Hakanen, Mervi Murtonen

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This study aims to increase understanding of the transition of business models in servitization. The significance of service in all business has increased dramatically during the past decades. Service-dominant logic (SDL) describes this change in the economy and questions the goods-dominant logic on which business has primarily been based in the past. A business model canvas is one of the most cited and used tools in defining end developing business models. The starting point of this paper lies in the notion that the traditional business model canvas is inherently goods-oriented and best suits for product-based business. However, the basic differences between goods and services necessitate changes in business model representations when proceeding in servitization. Therefore, new knowledge is needed on how the conception of business model and the business model canvas as its representation should be altered in servitized firms in order to better serve business developers and inter-firm co-creation. That is to say, compared to products, services are intangible and they are co-produced between the supplier and the customer. Value is always co-created in interaction between a supplier and a customer, and customer experience primarily depends on how well the interaction succeeds between the actors. The role of service experience is even stronger in service business compared to product business, as services are co-produced with the customer. This paper provides business model developers with a service business model canvas, which takes into account the intangible, interactive, and relational nature of service. The study employs a design science approach that contributes to theory development via design artifacts. This study utilizes qualitative data gathered in workshops with ten companies from various industries. In particular, key differences between Goods-dominant logic (GDL) and SDL-based business models are identified when an industrial firm proceeds in servitization. As the result of the study, an updated version of the business model canvas is provided based on service-dominant logic. The service business model canvas ensures a stronger customer focus and includes aspects salient for services, such as interaction between companies, service co-production, and customer experience. It can be used for the analysis and development of a current service business model of a company or for designing a new business model. It facilitates customer-focused new service design and service development. It aids in the identification of development needs, and facilitates the creation of a common view of the business model. Therefore, the service business model canvas can be regarded as a boundary object, which facilitates the creation of a common understanding of the business model between several actors involved. The study contributes to the business model and service business development disciplines by providing a managerial tool for practitioners in service development. It also provides research insight into how servitization challenges companies’ business models.

Keywords: boundary object, business model canvas, managerial tool, service-dominant logic

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Authors: Faruk Inaltekin, Imran Gurakan

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This paper will aim to discuss the importance of value-added services provided by Science and Technology Parks for entrepreneurship development in Turkey. Entrepreneurship is vital subject for all countries. It has not only fostered economic development but also promoted innovation at local and international levels. To foster high tech entrepreneurship ecosystem, Technopark (Science and Technology Park/STP) concept was initiated with the establishment of Silicon Valley in the 1950s. The success and rise of Silicon Valley led to the spread of technopark activities. Developed economies have been setting up projects to plan and build STPs since the 1960s and 1970s. To promote the establishment of STPs, necessary legislations were made by Ministry of Science, Industry, and Technology in 2001, Technology Development Zones Law (No. 4691) and it has been revised in 2016 to provide more supports. STPs’ basic aim is to provide customers high-quality office spaces with various 'value added services' such as business development, network connections, cooperation programs, investor/customers meetings and internationalization services. For this aim, STPs should help startups deal with difficulties in the early stages and to support mature companies’ export activities in the foreign market. STPs should support the production, commercialization and more significantly internationalization of technology-intensive business and foster growth of companies. Nowadays within this value-added services, internationalization is very popular subject in the world. Most of STPs design clusters or accelerator programs in order to support their companies in the foreign market penetration. If startups are not ready for international competition, STPs should help them to get ready for foreign market with training and mentoring sessions. These training and mentoring sessions should take a goal based approach to working with companies. Each company has different needs and goals. Therefore the definition of ‘success' varies for each company. For this reason, it is very important to create customized value added services to meet the needs of startups. After local supports, STPs should also be able to support their startups in foreign market. Organizing well defined international accelerator program plays an important role in this mission. Turkey is strategically placed between key markets in Europe, Russia, Central Asia and the Middle East. Its population is young and well educated. So both government agencies and the private sectors endeavor to foster and encourage entrepreneurship ecosystem with many supports. In sum, the task of technoparks with these and similar value added services is very important for developing entrepreneurship ecosystem. The priorities of all value added services are to identify the commercialization and growth obstacles faced by entrepreneurs and get rid of them with the one-to-one customized services. Also, in order to have a healthy startup ecosystem and create sustainable entrepreneurship, stakeholders (technoparks, incubators, accelerators, investors, universities, governmental organizations etc.) should fulfill their roles and/or duties and collaborate with each other. STPs play an important role as bridge for these stakeholders & entrepreneurs. STPs always should benchmark and renew services offered to how to help the start-ups to survive, develop their business and benefit from these stakeholders.

Keywords: accelerator, cluster, entrepreneurship, startup, technopark, value added services

Procedia PDF Downloads 143

Authors: Brahim Bellali, Fatima Bellali

Abstract:

The integration of information technology systems (ITS) into a company's ‘human resources processes seems to be the appropriate solution to the problem of evolving and adapting its human resources management practices in order to be both more strategic and more efficient in terms of costs and service quality. In this context, the aim of this work is to study the impact of information technology systems (ITS) on the recruitment process. In this study, we targeted candidates who had recruited using IT tools. The target population consists of 34 candidates based in Casablanca, Morocco. In order to collect the data, a questionnaire had to be drawn up. The survey is based on a data sheet and a questionnaire that is divided into several sections to make it more structured and comprehensible. The results show that the majority of respondents say that companies are making greater use of online CV libraries and social networks as digital solutions during the recruitment process. The results also show that 50% of candidates say that the use of digital tools by companies would not slow them down when applying for a job and that these IT tools improve manual recruitment processes, while 44.1% think that they facilitate recruitment without any human intervention. The majority of respondents (52.9%) think that social networks are the digital solutions most often used by recruiters in the sourcing phase. The constraints of digital recruitment encountered are the dehumanization of human resources (44.1%) and the limited interaction during remote interviews (44.1%), which leaves no room for informal exchanges. Digital recruitment can be a highly effective strategy for finding qualified candidates in a variety of fields. Here are a few recommendations for optimizing your digital recruitment process: (1) Use online recruitment platforms: LinkedIn, Twitter, and Facebook ; (2) Use applicant tracking systems (ATS) ; (3) Develop a content marketing strategy.

Keywords: IT systems, recruitment, challenges, constraints

Procedia PDF Downloads 9

Authors: Frederica Pettit

Abstract:

Contribution: Stakeholder involvement in CSR is essential to ensuring pro-environmental attitudes and behaviours across multi-stakeholder groups. Despite increased awareness of the benefits surrounding a collaborative approach to sustainability communications, its success is limited by difficulties engaging with active online conversations with stakeholder groups. Whilst previous research defines the effectiveness of sustainability communications; this paper contributes to knowledge through the development of a theoretical framework that explores the processes to achieving pro-environmental attitudes and behaviours in stakeholder groups. The research will also consider social media as an opportunity to communicate CSR information to all stakeholder groups. Approach: A systematic review was chosen to investigate the effectiveness of the types of sustainability communications used in the hospitality and tourism industries. The systematic review was completed using Web of Science and Scopus using the search terms “sustainab* communicat*” “effective or effectiveness,” and “hospitality or tourism,” limiting the results to peer-reviewed research. 133 abstracts were initially read, with articles being excluded for irrelevance, duplicated articles, non-empirical studies, and language. A total of 45 papers were included as part of the systematic review. 5 propositions were created based on the results of the systematic review, helping to develop a theoretical framework of the processes needed for companies to encourage pro-environmental behaviours across multi-stakeholder groups. Results: The theoretical framework developed in the paper determined the processes necessary for companies to achieve pro-environmental behaviours in stakeholders. The processes to achieving pro-environmental attitudes and behaviours are stakeholder-focused, identifying the need for communications to be specific to their targeted audience. Collaborative communications that enable stakeholders to engage with CSR information and provide feedback lead to a higher awareness of CSR shared visions and pro-environmental attitudes and behaviours. These processes should also aim to improve their relationships with stakeholders through transparency of CSR, CSR strategies that match stakeholder values and ethics whilst prioritizing sustainability as part of their job role. Alternatively, companies can prioritize pro-environmental behaviours using choice editing by mainstreaming sustainability as the only option. In recent years, there has been extensive research on social media as a viable source of sustainability communications, with benefits including direct interactions with stakeholders, the ability to enforce the authenticity of CSR activities and encouragement of pro-environmental behaviours. Despite this, there are challenges to implementing CSR, including difficulties controlling stakeholder criticisms, negative stakeholder influences and comments left on social media platforms. Conclusion: A lack of engagement with CSR information is a reoccurring reason for preventing pro-environmental attitudes and behaviours across stakeholder groups. Traditional CSR strategies contribute to this due to their inability to engage with their intended audience. Hospitality and tourism companies are improving stakeholder relationships through collaborative processes which reduce single-use plastic consumption. A collaborative approach to communications can lead to stakeholder satisfaction, leading to changes in attitudes and behaviours. Different sources of communications are accessed by different stakeholder groups, identifying the need for targeted sustainability messaging, creating benefits such as direct interactions with stakeholders, the ability to enforce the authenticity of CSR activities, and encouraging engagement with sustainability information.

Keywords: hospitality, pro-environmental attitudes and behaviours, sustainability communication, social media

Procedia PDF Downloads 139

Authors: Bellali Brahim, Bellali Fatima

Abstract:

The integration of information technology systems (ITS) into a company's ‘human resources processes seems to be the appropriate solution to the problem of evolving and adapting its human resources management practices in order to be both more strategic and more efficient in terms of costs and service quality. In this context, the aim of this work is to study the impact of nformation technology systems (ITS) on the recruitment process. In this study, we targeted candidates who had recruited using IT tools. The target population consists of 34 candidates based in Casablanca, Morocco. In order to collect the data, a questionnaire had to be drawn up. The survey is based on a data sheet and a questionnaire that is divided into several sections to make it more structured and comprehensible. The results show that the majority of respondents say that companies are making greater use of online CV libraries and social networks as digital solutions during the recruitment process. The results also show that 50% of candidates say that the use of digital tools by companies would not slow them down when applying for a job and that these IT tools improve manual recruitment processes, while 44.1% think that they facilitate recruitment without any human intervention. The majority of respondents (52.9%) think that social networks are the digital solutions most often used by recruiters in the sourcing phase. The constraints of digital recruitment encountered are the dehumanization of human resources (44.1%) and the limited interaction during remote interviews (44.1%), which leaves no room for informal exchanges. Digital recruitment can be a highly effective strategy for finding qualified candidates in a variety of fields. Here are a few recommendations for optimizing your digital recruitment process: (1) Use online recruitment platforms: LinkedIn, Twitter, and Facebook ; (2) Use applicant tracking systems (ATS) ; (3) Develop a content marketing strategy.

Keywords: IT systems, recruitment, challenges, constraints

Procedia PDF Downloads 26

Authors: Moujib Bahri, Rahim Kallel, Ouafa Sakka

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Corruption is a phenomenon that increases uncertainty and risk of SMEs as it undermines the quality of the business environment and the easy access to public services. Our research builds on existing research on corruption's effects on economic growth at the firm level. Several papers have analyzed the effect of firms’ payments of bribes on their performance; however, only limited research has investigated the link between corruption, innovation, and exports. Drawing on principal-agent theory, we explore how corruption weakens the institutional context and makes the business environment unsound and not conducive to innovation and exports. This study employs data from The Enterprise Surveys conducted in Tunisia between March 2013 and July 2014 by the World Bank, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). The main objective of this survey was to gain a better understanding of Tunisian firms’ perception of the environment in which they operate. Since 2011, the country's political situation has become fragile and unstable, and public services are perceived as inefficient and corrupt. We test our hypotheses on a sample of 537 Tunisian manufacturing SMEs using structural equation modeling and path analysis. We find that political instability leads to higher level of corruption, and that excessive business licensing regulations create a fertile ground for bribery. Our findings do not support the greasing hypothesis suggesting that corruption can reduce the negative effect of bureaucratic delays and the hard access of companies to public services related to innovation and exports. Instead, our results support the sanding hypothesis according to which corruption hinders innovation activities and exports. Furthermore, corruption is found to, negatively and significantly, impact firms’ ownership of quality certificates. Our results suggest that, in an environment with a high level of corruption, governments and policymakers interested in assisting SMEs with their innovation and export activities should have a better control on corruption to allow them developing those activities without being forced to bribe government officers.

Keywords: corruption, innovation, exports, SMEs

Procedia PDF Downloads 180

Authors: Natasha Correa Vitória Bandeira, Lais Cordeiro Soares, Claudineia Brazil, Luciane Teresa Salvi

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The intense rain event that occurred between February 16 and 18, 2018, in the city of Barcarena in Pará, located in the North region of Brazil, demonstrates the importance of analyzing this type of event. The metropolitan mesoregion of Belem was severely punished by rains much above the averages normally expected for that time of year; this phenomenon affected, in addition to the capital, the municipalities of Barcarena, Murucupi and Muruçambá. Resulting in a great flood in the rivers of the region, whose basins were affected with great intensity of precipitation, causing concern for the local population because in this region, there are located companies that accumulate ore tailings, and in this specific case, the dam of any of these companies, leaching the ore to the water bodies of the Murucupi River Basin. This article aims to characterize this phenomenon through a special analysis of the distribution of rainfall, using data from atmospheric soundings, satellite images, radar images and data from the GPCP (Global Precipitation Climatology Project), in addition to rainfall stations located in the study region. The results of the work demonstrated a dissociation between the data measured in the meteorological stations and the other forms of analysis of this extreme event. Monitoring carried out solely on the basis of data from pluviometric stations is not sufficient for monitoring and/or diagnosing extreme weather events, and investment by the competent bodies is important to install a larger network of pluviometric stations sufficient to meet the demand in a given region.

Keywords: extreme precipitation, great flood, GPCP, ore dam

Procedia PDF Downloads 107

Authors: Ha-Guk Jeong, Jong-Beom Lee

Abstract:

Cladding process is very typical technology for manufacturing composite materials by the hydrostatic extrusion. Because there is no friction between the metal and the container, it can be easily obtained in uniform flow during the deformation. The general manufacturing process for a metal-matrix composite in the solid state, mixing metal powders and ceramic powders with a suited volume ratio, prior to be compressed or extruded at the cold or hot condition in a can. Since through a plurality of unit processing steps of dispersing the materials having a large difference in their characteristics and physical mixing, the process is complicated and leads to non-uniform dispersion of ceramics. It is difficult and hard to reach a uniform ideal property in the coherence problems at the interface between the metal and the ceramic reinforcements. Metal hybrid composites, which presented in this report, are manufactured through the traditional plastic deformation processes like hydrostatic extrusion, caliber-rolling, and drawing. By the previous process, the realization of uniform macro and microstructure is surely possible. In this study, as a constituent material, aluminum, copper, and titanium have been used, according to the component ratio, excellent characteristics of each material were possible to produce a metal hybrid composite that appears to maximize. MgB₂ superconductor wire also fabricated via the same process. It will be introduced to their unique artistic and thermal characteristics.

Keywords: cladding process, metal-hybrid composites, hydrostatic extrusion, electronic/thermal characteristics

Procedia PDF Downloads 179

Authors: Christian Neunzig, Simon Fahle, Jürgen Schulz, Matthias Möller, Bernd Kuhlenkötter

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Manufacturing companies are facing global competition and enormous cost pressure. The use of machine learning applications can help reduce production costs and create added value. Predictive quality enables the securing of product quality through data-supported predictions using machine learning models as a basis for decisions on test results. Furthermore, machine learning methods are able to process large amounts of data, deal with unfavourable row-column ratios and detect dependencies between the covariates and the given target as well as assess the multidimensional influence of all input variables on the target. Real production data are often subject to highly fluctuating boundary conditions and unbalanced data sets. Changes in production data manifest themselves in trends, systematic shifts, and seasonal effects. Thus, Machine learning applications require intensive pre-processing and feature selection. Data preprocessing includes rule-based data cleaning, the application of dimensionality reduction techniques, and the identification of comparable data subsets. Within the used real data set of Bosch hydraulic valves, the comparability of the same production conditions in the production of hydraulic valves within certain time periods can be identified by applying the concept drift method. Furthermore, a classification model is developed to evaluate the feature importance in different subsets within the identified time periods. By selecting comparable and stable features, the number of features used can be significantly reduced without a strong decrease in predictive power. The use of cross-process production data along the value chain of hydraulic valves is a promising approach to predict the quality characteristics of workpieces. In this research, the ada boosting classifier is used to predict the leakage of hydraulic valves based on geometric gauge blocks from machining, mating data from the assembly, and hydraulic measurement data from end-of-line testing. In addition, the most suitable methods are selected and accurate quality predictions are achieved.

Keywords: classification, achine learning, predictive quality, feature selection

Procedia PDF Downloads 162

Authors: Hela Fathallah

Abstract:

With 6,500 spoken languages all over the world but 80 percent of online content available only in 10 languages – English, Chinese, Spanish, Japanese, Arabic, Portuguese, German, French, Russian, and Korean – language represents a barrier to the universal access to knowledge, information and services that the internet wants to provide. Translation and its related fields of localization, interpreting, globalization, and internationalization, remove that barrier for billions of people worldwide, unlocking new markets for technology companies, mobile device makers, service providers and language vendors as well. This paper gathers different surveys conducted in different regions of the world that demonstrate a growing demand for consumption of web content with distinctive values and in languages others than the aforementioned ones. It also adds new insights to the contribution of translation in languages preservation. The idea that English is the language of internet and that, in a globalized world, everyone should learn English to cope with new technologies is no longer true. This idea has reached its limits. It collides with cultural diversity and differences around the world and generates an accelerated rate of languages extinction. Studies prove that internet exacerbates this rate and web giants such as Facebook or Google are, today, facing the impact of such a misconception of globalization. For internet and dot-com companies, localization is the solution; they are spending a significant amount of time to understand what people want and to figure out how to provide it. They are committed to making their content accessible, if not in all the languages spoken today, at least in most of them, and to adapting it to most cultures. Technology has broken down the barriers of time and space, and it will break down the language barrier as well by undertaking a process of translation and localization and through a new definition of globalization that takes into consideration these two processes.

Keywords: globalization, internet, localization, translation

Procedia PDF Downloads 362

Authors: Rachael Sullivan, Joshua Berman

Abstract:

The number of satellites orbiting earth are in the thousands now. Commercial launches are increasing, and civilians are venturing into the outer reaches of the atmosphere. As the space industry continues to grow and evolve, so too will the demand on resources, the disparities amongst socio-economic groups, and space company governance standards. Outside of just ensuring that space operations are compliant with government regulations, export controls, and international sanctions, companies should also keep in mind the impact their operations will have on society and the environment. Those looking to expand their operations into outer space should remain mindful of both the opportunities and challenges that they could encounter along the way. From commercial launches promoting civilian space travel—like the recent launches from Blue Origin, Virgin Galactic, and Space X—to regulatory and policy shifts, the commercial landscape beyond the Earth's atmosphere is evolving. But practices will also have to become sustainable. Through a review and analysis of space industry trends, international government regulations, and empirical data, this research explores how Environmental, Social, and Governance (ESG) reporting and investing will manifest within a fast-changing space industry.Institutions, regulators, investors, and employees are increasingly relying on ESG. Those working in the space industry will be no exception. Companies (or investors) that are already engaging or plan to engage in space operations should consider 1) environmental standards and objectives when tackling space debris and space mining, 2) social standards and objectives when considering how such practices may impact access and opportunities for different socioeconomic groups to the benefits of space exploration, and 3) how decision-making and governing boards will function ethically, equitably, and sustainably as we chart new paths and encounter novel challenges in outer space.

Keywords: climate, environment, ESG, law, outer space, regulation

Procedia PDF Downloads 152

Authors: R. A. C. K. Gunathilaka, P. T. D. Peiris, O. S. M. Jayawardane, S. M. A. I. Kulathunga

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Waste management is one of the predominant aspects of resource utilization and sustainability. The absence of a proper waste management system may lead to adverse troubles and catastrophic tragedies ultimately. Sri Lanka has faced different predicaments for a long time due to the unavailability of a systematic manner in the waste management process. The main objective of this research is to design an efficient waste management system for an urban area in Sri Lanka. The research was dispersed into three categories as biodegradable, non-biodegradable, and hazardous waste. Different waste materials were researched for each category by probing the entire process from the beginning to final disposal for perceiving the prevailing problems in the waste management system. The distinctive segment of this research is comparing efficient foreign waste management strategies with efficacious approaches on increasing public commitment to uncovering cognizable ways of implementing such a system in the Sri Lankan context. Waste management systems in Singapore, Japan, Malaysia, USA, Maldives, and China incorporated their exemplary plan of action on tackling the waste problem in diverse sectors were studied. Ultimately, three coherent models were proposed for each category pertaining to the concepts of circular economy and lean manufacturing from the inception to the final disposal of the waste. This research also includes concealed financial opportunities regarding waste management.

Keywords: circular economy, efficient waste management system, lean manufacturing, sustainability, urban area

Procedia PDF Downloads 170

Authors: Mehmet Akif Aslan, Mehmet Simsek, Eyup Sensoy

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Big Data stands for today’s cutting-edge technology. As the technology becomes widespread, so does Data. Utilizing massive data sets enable companies to get competitive advantages over their adversaries. Out of many area of Big Data usage, logistics has significance role in both commercial sector and military. This paper lays out what big data is and how it is used in both military and commercial logistics.

Keywords: big data, logistics, operational efficiency, risk management

Procedia PDF Downloads 641