Search results for: business sustainability

Authors: Yeganeh Mousavi Jahromi, Sahar Dehghan

Abstract:

In Direct Tax Act, penalties and incentives are two strategies for realization of the expected tax revenues. In this study, the interaction between individual businesses' taxpayers' behaviors and National Tax Administration is investigated by using prospect theory which is based on behavioral economics approach. For this purpose, the structure of the tax compliance of the mentioned taxpayers is evaluated via the changes in penalty and incentive rates. In this way, a special questionnaire regarding the items of individual businesses sector of Direct Tax Act was designed for tax compliance evaluation, and the results were obtained using Bayesian Hierarchical method. The results indicate that the investigated individual business taxpayers, at all income levels, were more sensitive toward incentive rates so that this result can be useful for tax policymakers.

Keywords: behavioral economics, prospect theory, tax compliance, penalties, incentives

Procedia PDF Downloads 68

Authors: Tareq N. Issa

Abstract:

The main pressuring challenges of global competition and high returns have forced businesses to shift their strategic competitive advantage from physical distribution management to integrated logistics management, finally moving into supply chain management. Conventionally, corporate profitability is a function of cost, capital employed, revenue and customer service. This article gives an insight into the effect of supply chain management on each of the above variables. It investigates the impact of the changing levels/ effects of these variables on corporate profitability and the means of measuring supply chain financial effectiveness. Information technology tools form the basis for supply chain optimal performance through alignment of supply chain systems in this ever increasing complexity in business decisions.

Keywords: corporate profitability, sypply chain systems, business decisions, competitive advanage

Procedia PDF Downloads 337

Authors: Wang Mimi, Jiang Changjun, Liu Guanjun, Fang Xianwen

Abstract:

Loop structure often appears in the business process modeling, analyzing the consistency of corresponding workflow net models containing loop structure is a problem, the existing behavior consistency methods cannot analyze effectively the process models with the loop structure. In the paper, by analyzing five kinds of behavior relations of transitions, a three-dimensional figure and two-dimensional behavior relation matrix are proposed. Based on this, analysis method of behavior consistency of business process based on Petri net branching processes is proposed. Finally, an example is given out, which shows the method is effective.

Keywords: workflow net, behavior consistency measures, loop, branching process

Procedia PDF Downloads 388

Authors: Bisemiire Anthony,

Abstract:

PESH Poultry is a business project proposed specifically to solve unemployment and income-related problems affecting the youths in the Busia district. The project is intended to transform the life of the youth in terms of economic, social and behavioral, as well as the domestic well-being of the community at large. PESH Poultry is a start-up poultry farm that will be engaged in the keeping of poultry birds, broilers and layers for the production of quality and affordable poultry meat and eggs respectively and other poultry derivatives targeting consumers in eastern Uganda, for example, hotels, restaurants, households and bakeries. We intend to use a semi-intensive system of farming, where water and some food are provided in a separate nighttime shelter for the birds; our location will be in Lumino, Busia district. The poultry project will be established and owned by Bisemiire Anthony, Nandera Patience, Naula Justine, Bwire Benjamin and other investors. The farm will be managed and directed by Nandera Patience, who has five years of work experience and business administration knowledge. We will sell poultry products, including poultry eggs, chicken meat, feathers and poultry manure. We also offer consultancy services for poultry farming. Our eggs and chicken meat are hygienic, rich in protein and high quality. We produce processes and packages to meet the standard organization of Uganda and international standards. The business project shall comprise five (5) workers on the key management team who will share various roles and responsibilities in the identified business functions such as marketing, finance and other related poultry farming activities. PESH Poultry seeks 30 million Ugandan shillings in long-term financing to cover start-up costs, equipment, building expenses and working capital. Funding for the launch of the business will be provided primarily by equity from the investors. The business will reach positive cash flow in its first year of operation, allowing for the expected repayment of its loan obligations. Revenue will top UGX 11,750,000, and net income will reach about UGX115 950,000 in the 1st year of operation. The payback period for our project is 2 years and 3 months. The farm plans on starting with 1000 layer birds and 1000 broiler birds, 20 workers in the first year of operation.

Keywords: chicken, pullets, turkey, ducks

Procedia PDF Downloads 95

Authors: Soheir Mohamed Hegazy

Abstract:

Culture sustainability, which reflects a deep respect for people and history, is a cause of concern in contemporary architecture. Adopting ultramodern architecture styles was initiated in the 20th century by a plurality of states worldwide. Only a few countries, including Oman, realized that fashionable architectural designs ignore cultural values, identity, the context of its environment, economic perspective, and social performance. Stirring the Sultanate of Oman from being a listless and closed community to a modern country started in the year 1970. Despite unprecedented development in all aspects of Omani people's life, the leadership and the public had the capability to adjust to the changing global challenges without compromising social values and identity. This research provides a close analysis of one of the recent examples of contemporary vernacular architecture in the Sultanate of Oman, as a case study, Oman International Airport. The said airport gained an international appreciation for its Omani-themed architecture, distinguished traveler experience, and advanced technology. Accordingly, it was selected by the World Travel Awards as the Best Tourism Development Project in the Middle East only four weeks afterward after starting its operation. This paper aims to transfer this successful design approach of integrating the latest trends in technology, systems, eco-friendly aspects, and materials with the traditional Omani architectural features, which reflects symbiotic harmony of the community, individuals, and environment to other countries, designers, researchers, and students. In addition, the paper aims to encourage architects and teachers to take responsibility for valorizing built heritage as a source of inspiration for modern architecture, which could be considered as an added value. The work depends on reviewing the relevant literature, a case study, interviews with two architects who were involved in the project’s site work, and one current high-ranking employee in the airport besides data analysis and conclusion.

Keywords: contemporary vernacular architecture, culture sustainability, Oman international airport, current Omani architecture type

Procedia PDF Downloads 142

Authors: Libena Cernohorska, Jan Cernohorsky

Abstract:

This article aims to evaluate the impact of loans provided within the Czech banking sector on the growth of the Czech economy. The article is based on research of current scientific findings in respect to bank loans and economic development. The paper is based on data taken from the Czech Statistical Office on the development of the gross domestic product and data from the Czech National Bank on the development of loans from the period 2004-2015. Links between selected variables are tested using Granger causality tests. The results calculated confirm the hypothesis of the impact of the loans on economic growth, with a six-month delay. The results thus correspond to the standard economic findings and results of most previous studies.

Keywords: bank, business cycle, economic growth, loans

Procedia PDF Downloads 126

Authors: Sirajoddeen Al-Ameen

Abstract:

Researchers seek to introduce development leading to technologies that address environmental problems and learn how to interact with stakeholders, managers, and policymakers for appropriate actions. One of the greatest strategies that African countries need to consider in realizing sustainable development is effective, efficient, credible, and lasting environmental sustainability and ensuring that future generations have access to natural resources to live in a better way. Therefore the coordinated set of participatory and continuously improving processes of analysis, capacity, planning, and investment seeks to integrate the social and environmental objectives of society, and this is not given priority in Nigeria. Environmental sustainability is a field where people can understand the natural environment and public works for sustainable development. Sustainable development requires shifts from ordinary ways of doing things to modern ways of executing activities ranging from low to high productivity, the creation and adoption of new strategies, new skills, and knowledge. It ensures a developed world with a secure and healthy environment for all; human beings, animals, and plants alike. This paper is to carry out a review of various literature sources to ascertain the potential strategy of environment and sustainable development reform using the content analysis method to discuss the environmental strategies towards sustainable development in Nigeria. The objective of this paper is to enable Nigerians to understand and have an orientation on how to manage environmental resources and avoid environmental impact on the ecosystem, and also to find sustainable solutions for environmental issues without compromising economic development.

Keywords: development, environment, strategies, sustainable

Procedia PDF Downloads 107

Authors: Shubhangi Salokhe

Abstract:

Agriculture encompasses crop and livestock production, forestry, and fisheries for food and non-food products. Farmers combine land, water, commercial inputs, labor, and their management skills into practices and systems that produce food and fibre. Harvesting of agricultural produce is either followed by the processing of fresh produce or storage for later consumption. All these activities result in a vast generation of waste in terms of crop residue or food waste. So, a large amount of agricultural waste is produced every year. Waste arising from food and agricultural sectors has the potential for vast applications. So, agricultural waste management is an essential component of sustainable agriculture. The major portion of the waste comes from the residues of crops on farms, food processing, livestock, aquaculture, and agro-industry waste. Therefore, management of these agricultural wastes is an important task, and it requires robust strategic planning. It can contribute to three pillars of sustainable agriculture development. It protects the environment (environmental pillar), enhances the livelihoods of farmers (economic pillar), and can contribute to increasing the sustainability of the agricultural sector (social pillar). This paper addresses the essential technological aspects, possible solutions, and sound policy concerns to accomplish long-term way out of agriculture waste management and to minimize the negative impact of waste on the environment. The author has developed a sustainable agriculture waste management model for improving the sustainability of agriculture.

Keywords: agriculture, development, management, waste

Procedia PDF Downloads 51

Authors: Sawarni Hasibuan, Rudi Effendi Listyanto

Abstract:

The industrial sector is the largest consumer of energy consumption in Indonesia. The ceramics industry includes one of seven industries categorized as an energy-intensive industry. Energy costs on the ceramic floor production process reached 40 percent of the total production cost. The kiln is one of the machines in the ceramic industry that consumes the most gas energy reach 51 percent of gas consumption in ceramic production. The purpose of this research is to make improvement of energy consumption in kiln machine part with the innovation of burner tube to support the sustainability of Indonesian ceramics industry. The tube burner is technically designed to be able to raise the temperature and stabilize the air pressure in the burner so as to facilitate the combustion process in the kiln machine which implies the efficiency of gas consumption required. The innovation of the burner tube also has an impact on the decrease of the combustion chamber pressure in the kiln and managed to keep the pressure of the combustion chamber according to the operational standard of the kiln; consequently, the smoke fan motor power can be lowered and the kiln electric energy consumption is also more efficient. The innovation of burner tube succeeded in saving consume of gas and electricity respectively by 0.0654 GJ and 1,693 x 10-3 GJ for every ton of ceramics produced. Improvement of this energy consumption not only implies the cost savings of production but also supports the sustainability of the Indonesian ceramics industry.

Keywords: sustainable ceramic industry, burner tube, kiln, energy efficiency

Procedia PDF Downloads 324

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

Abstract:

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: Mounir Filali

Abstract:

Companies use many innovative ways to reach their customers to stay ahead of the competition. Along with the growing demand for innovative business solutions is the demand for new technology. The most noticeable area of demand for business innovations is the mobile application industry. Recently, companies have recognized the growing need to integrate proprietary mobile applications into their suite of services; Companies have realized that developing mobile apps gives them a competitive edge. As a result, many have begun to rapidly develop mobile apps to stay ahead of the competition. Mobile application development helps companies meet the needs of their customers. Mobile apps also help businesses to take advantage of every potential opportunity to generate leads that convert into sales. Mobile app download growth statistics with the recent rise in demand for business-related mobile apps, there has been a similar rise in the range of mobile app solutions being offered. Today, companies can use the traditional route of the software development team to build their own mobile applications. However, there are also many platform-ready "low-code and no-code" mobile apps available to choose from. These mobile app development options have more streamlined business processes. This helps them be more responsive to their customers without having to be coding experts. Companies must have a basic understanding of mobile app architecture to attract and maintain the interest of mobile app users. Mobile application architecture refers to the buildings or structural systems and design elements that make up a mobile application. It also includes the technologies, processes, and components used during application development. The underlying foundation of all applications consists of all elements of the mobile application architecture, developing a good mobile app architecture requires proper planning and strategic design. The technology framework or platform on the back end and user-facing side of a mobile application is part of the mobile architecture of the application. In-application development Software programmers loosely refer to this set of mobile architecture systems and processes as the "technology stack".

Keywords: mobile applications, development, architecture, technology

Procedia PDF Downloads 102

Authors: Asma Dill

Abstract:

The aim of this study is to explore the role of HRM practices in SMEs success. The role of HRM practices in large enterprises is relatively known, on the other hand, small and medium enterprises (SMEs) companies have not been greatly studied in relation to the HRM practices in the past. Although, there is a lack of literature and empirical research in this area, several studies in the recent years emphasized on the importance of the HRM practices for the success of the SMEs. This study finds out relationship of HRM practices and SMESs performances. The objective is to analyze significant impacts of HRM practices (training, performance appraisal, compensation and employee development) on SMEs success, to determine whether SMEs recognize the importance of HRM practices in their businesses. To carry out this research a survey research strategy was followed. The sample frame for this study consisted of firms that belong to the services and commerce sector, employing at least 50 employees. The final research sample consisted of questionnaires. Descriptive statistical methods have been used during quantitative analysis to explore the relations. The findings of the study revealed that HRM practices have a significant influence on the performance of SMEs, and the better the HRM practice, the higher the performance of the SMEs. HRM practices, including, training, compensation, performance appraisal and employee development, have been found to be significantly and positively related to business success. Outcome of the study will provide useful guidelines to the business organizations. This study contributes to knowledge by providing insights on the impact of HRM practices on SMEs performance.

Keywords: compensation, employee performance, HRM practices, training

Procedia PDF Downloads 178

Authors: Somaieh Salehpour, Douglas Ireland, Chris Anderson, Charles Markessini

Abstract:

Over the last few years, advancements have been made around improving sustainability for wood composite boards. One of the last and most challenging sustainability hurdles is finding a viable alternative to petroleum-based resin binders. In today’s market, no longer is formaldehyde emission control sufficient to meet the requirements of many architects and end-use consumers. Even the use of highly reactive isocyanates is considered by many as not sustainable enough since these chemicals are manufactured from classical fossil fuel sources. The emergence of biopolymers specifically engineered for usage as wood composite binders has been successfully demonstrated in this paper as a viable option towards a truly renewable wood composite board. Recent technology advancements driven by EcoSynthetix and CHIMAR have exploited the advantages of using an engineered biopolymer. The evidence shows that this renewable technology has the potential to be used as a partial up to full replacement of classical formaldehyde technologies. Numerous trials, both in the lab and at industrial scale, have shown that a renewable binder of the proposed technology can produce a commercially viable board in a traditional industrial setting. The ultimate goal of this work is to provide evidence that a sustainable binder alternative can be used to make a commercial board while at the same time improving the total cost of manufacturing.

Keywords: no added formaldehyde, renewable, biopolymers, sustainable wood composites, engineered biopolymers

Procedia PDF Downloads 400

Authors: Senait G. Worku, Ellen Mangnus

Abstract:

Inclusive business models which integrates low-income people with companies value chain in a commercially viable way has gained momentum for the perceived potential to contribute to poverty alleviation and food security in developing countries. This article investigates the impact of Community Revenue Enhancement through Technology Extension (CREATE) project of Heineken brewery on smallholder farmers’ wellbeing in Arsi zone Oromia regional state of Ethiopia. CREATE is a Public-Private Partnership (PPP) between Ministry of Foreign Affairs of the Netherlands and Heineken N.V. which source malt barely from smallholder farmers in three zones of Oromia. The study assessed the impact of CREATE on malt barley productivity, food security and new asset purchase in Arsi zone by comparing households that participate in the project with non-participating households using propensity score matching method. The finding indicated that households that participated in the CREATE project had higher malt barley productivity and purchased more new assets than non-participating households. However, there is no significant difference on food security status of participating and non-participating households indicating that the project has a profound impact on asset accumulation than on food security improvement.

Keywords: inclusive business, malt barley, propensity score matching, wellbeing

Procedia PDF Downloads 156

Authors: Muhammad Faizan Butt, Maria Ambreen Tahir, Joshua James Pilkington, A. A. Warsi

Abstract:

Background: Total parenteral nutrition (TPN) use within the NHS is crucial in the prevention of malnourishment. TPN prescriptions are tailored to an individual patient’s needs. TPN bags come in fixed sizes, and minimizing wastage has financial and sustainability implications for the health service. The aim of the study is to assess current prescribing practices, look at the volume of TPN wastage and identify reasons for it. Methodology: A retrospective cohort study on TPN prescriptions over a period of 1 year (Jan-Dec 2022) was performed. All patients prescribed TPN that had been admitted under a general surgery consultant in a small district hospital were included. Data were extracted from hospital electronic records and dietician charts. Data were described, and reasons for TPN wastage were explored. Results: 49 patients were identified. The average length of TPN prescription was 8 days (median). This totaled 608 prescriptions. Of the bags prescribed, 258, 169, and 181 were 10g (2500ml), 14g (2000ml), and 18g (2000ml), respectively. The mean volume wasted from each type of bag was 634ml, 634ml, and 648ml, respectively. Reasons for TPN wastage identified were: no loss (25%), smaller bags not available (53.6%), step-down regime (8.1%), and other (12.2%). Conclusion: This study has identified that the current stocking and prescribing of TPN within a district general hospital leads to a significant wastage of 638.2ml (average). The commonest reason for wastage is the non-availability of a more appropriate sized bag.

Keywords: general surgery, TPN, sustainability, wastage

Procedia PDF Downloads 75

Authors: Krisada Sungkhamanee

Abstract:

The objectives of this research are to search the management pattern of one district lodging entrepreneurs by sufficient economy ways, to know the constrains that affects this sector and design fit arrangement shape to sustain their business with Samut Songkram style. What will happen if they do not use this approach? Will they have a monetary crisis? The data and information are collected by informal discussions with 8 managers and 400 questionnaires. A mixed methods of both qualitative research and quantitative research are used and Bent Flyvbjerg’s phronesis is utilized for this analysis. Our paper will prove that sufficient economy can help small business firms to solve their problems. We think that the results of our research will be a financial pattern to solve many problems of the entrepreneurs and this way will can be a super model for other provinces of Thailand.

Keywords: Samut Songkram, service sector, sufficient economy, management pattern

Procedia PDF Downloads 365

Authors: Odi Fawwaz Alrebei, Rim Ismail

Abstract:

Sustainable aviation fuel (SAF) has emerged as a critical solution for reducing the aviation sector's carbon footprint. Biological feedstocks, such as lignocellulosic biomass, microalgae, used cooking oil, and municipal solid waste, offer significant potential to replace fossil-based jet fuels with renewable alternatives. This review paper aims to critically examine the current landscape of biological feedstocks for SAF production, focusing on feedstock availability, conversion technologies, and environmental impacts. The paper evaluates the biochemical pathways employed in transforming these feedstocks into SAF, such as hydrothermal liquefaction, Fischer-Tropsch synthesis, and microbial fermentation, highlighting the advancements and challenges in each method. Additionally, the sustainability of biological feedstocks is analyzed with respect to lifecycle emissions, land use, and water consumption, emphasizing the need for region-specific strategies to maximize benefits. Special attention is given to the role of microbial consortia in optimizing feedstock degradation and conversion processes. The review concludes by discussing the scalability and economic viability of biological feedstock-based SAF, with a focus on policy frameworks and technological innovations that can facilitate widespread adoption. This comprehensive review underscores the pivotal role of biological feedstocks in achieving a decarbonized aviation sector and identifies future research directions for improving SAF production efficiency and sustainability.

Keywords: fuel diversity, biological feedstocks, SAF, aviation

Procedia PDF Downloads 14

Authors: Debdatta Mukherjee, Abhiman Das, Amit Garg

Abstract:

In recent years, there is a growing interest about corporate social responsibility of firms in both academic literature and business world. Since business forms a part of society incorporating socio-environment concerns into its value chain, activities are vital for ensuring mutual sustainability and prosperity. But, until now most of the works have been either descriptive or normative rather than positivist in tone. Even the few ones with a positivist approach have mostly studied the link between corporate financial performance and corporate social performance. However, these studies have been severely criticized by many eminent authors on grounds that they lack a theoretical basis for their findings. They have also argued that apart from corporate financial performance, there must be certain other crucial influences that are likely to determine corporate social performance of firms. In fact, several studies have indicated that firms operating in distinct national institutions show significant variations in the corporate social responsibility practices that they undertake. This clearly suggests that the institutional context of a country in which the firms operate is a key determinant of corporate social performance of firms. Therefore, this paper uses an institutional framework to understand why corporate social performance of firms vary across countries. It examines the impact of country level institutions on corporate social performance using a sample of 3240 global publicly-held firms across 33 countries covering the period 2010-2015. The country level institutions include public institutions, private institutions, markets and capacity to innovate. Econometric Analysis has been mainly used to assess this impact. A three way panel data analysis using fixed effects has been used to test and validate appropriate hypotheses. Most of the empirical findings confirm our hypotheses and the economic significance indicates the specific impact of each variable and their importance relative to others. The results suggest that institutional determinants like ethical behavior of private institutions, goods market, labor market and innovation capacity of a country are significantly related to the corporate social performance of firms. Based on our findings, few implications for policy makers from across the world have also been suggested. The institutions in a country should promote competition. The government should use policy levers for upgrading home demands, like setting challenging yet flexible safety, quality and environment standards, and framing policies governing buyer information, providing innovative recourses to low quality goods and services and promoting early adoption of new and technologically advanced products. Moreover, the institution building in a country should be such that they facilitate and improve the capacity of firms to innovate. Therefore, the proposed study argues that country level institutions impact corporate social performance of firms, empirically validates the same, suggest policy implications and attempts to contribute to an extended understanding of corporate social responsibility and corporate social performance in a multinational context.

Keywords: corporate social performance, corporate social responsibility, institutions, markets

Procedia PDF Downloads 166

Authors: Jin Sheng

Abstract:

This paper addresses a promising area of insurance sector to develop in Asia. Captive insurance, which provides risk-mitigation services for its parent company, has great potentials to develop in energy, infrastructure, agriculture, logistics, catastrophe, and alternative risk transfer (ART), and will greatly affect the framework of insurance industry. However, the Asian captive insurance market only takes a small proportion in the global market. The recent supply chain interruption case of Hanjin Shipping indicates the significance of risk management for an Asian company’s sustainability and resilience. China has substantial needs and great potentials to develop captive insurance, on account of the currency volatility, enterprises’ credit risks, and legal and operational risks of the Belt and Road initiative. Up to date, Mainland Chinese enterprises only have four offshore captives incorporated by CNOOC, Sinopec, Lenovo and CGN Power), three onshore captive insurance companies incorporated by CNPC, China Railway, and COSCO, as well as one industrial captive insurance organization - China Ship-owners Mutual Assurance Association. Its captive market grows slowly with one or two captive insurers licensed yearly after September 2011. As an international financial center, Hong Kong has comparative advantages in taxation, professionals, market access and well-established financial infrastructure to develop a functional captive insurance market. For example, Hong Kong’s income tax for an insurance company is 16.5%; while China's income tax for an insurance company is 25% plus business tax of 5%. Furthermore, restrictions on market entry and operations of China’s onshore captives make establishing offshore captives in international or regional captive insurance centers such as Singapore, Hong Kong, and other overseas jurisdictions to become attractive options. Thus, there are abundant business opportunities in this area. Using methodology of comparative studies and case analysis, this paper discusses the incorporation, regulatory issues, taxation and prospect of captive insurance market in Hong Kong, China and Singapore. Hong Kong and Singapore are both international financial centers with prominent advantages in tax concessions, technology, implementation, professional services, and well-functioning legal system. Singapore, as the domicile of 71 active captives, has been the largest captive insurance hub in Asia, as well as an established reinsurance hub. Hong Kong is an emerging captive insurance hub with 5 to 10 newly licensed captives each year, according to the Hong Kong Financial Services Development Council. It is predicted that Hong Kong will become a domicile for 50 captive insurers by 2025. This paper also compares the formation of a captive in Singapore with other jurisdictions such as Bermuda and Vermont.

Keywords: Alternative Risk Transfer (ART), captive insurance company, offshore captives, risk management, reinsurance, self-insurance fund

Procedia PDF Downloads 229

Authors: Yusuf Sani Abubakar

Abstract:

This paper investigates mechanisms of settlement of disputes at the Islamic Financial Institutions (IFIs). Dispute settlement at the Islamic Financial Institutions (IFIs) can be both through litigation as well as Alternative Dispute Resolution (ADR). The paper aims to investigate how disputes are settled at the Islamic Financial Institutions (IFIs), as it is natural to have disagreements between different parties involved in the business of Islamic Financial Institutions (IFIs). The paper adopts a qualitative methodology where the sources are taken from journals, books, websites etc. In analyzing the data obtained from the sources, content analysis will be used. In addition to writings on this topic by various writers, this paper will add to the literature and will recommend certain effective ways of solving disputes arising between parties participating in the business of Islamic Financial Institutions (IFIs).

Keywords: Islamic finance, dispute resolution, Islamic financial institutions, litigation

Procedia PDF Downloads 166

Authors: O. B. Enemuo, A. A. Onubuogu

Abstract:

This work evaluated the influence of interior of decoration on customer perception of hotels in Uyo Akwa Ibom State. Specifically the study identified the various interior decoration used in hotels in the study area, determined the interior decoration used in hotels that appeal to the customer more, ascertained the influence of interior decoration on the level of patronage in the hotel in the study area and suggested ways of improving the interior decoration of hotels in the study area for sustainability. The study was guided by four research questions and two hypotheses. It adopted survey research design; structured questionnaire was used for data collection. The samples for the study were four hundred (400) staff and managers from the various hotels in the study area. Data generated were analyzed using mean and standard deviation analyses of variance (ANOVA) derived from regression analyses to test the hypotheses. The result of the finding showed that satisfactory interior decoration has a positive influence on the sustainability of the hospitality establishments in Uyo. The hypothesis showed that there was a significant relationship between the gender perception on the influence of interior decoration in the hotel and significant relationship between the gender perceptions on the influence of interior decoration in the hotels. From the finding, it was recommended that the hotels should design interior decorative service delivery system which has an impact on customer satisfaction in the hospitality industry and practiced healthy decorative environment and increased customer satisfaction.

Keywords: influence, interior decoration, customer’s perception, hotels

Procedia PDF Downloads 295

Authors: Kelly La Venture

Abstract:

Destination promotion has become increasingly important to economic development in the United States. Key stakeholders of the First City on the Mississippi recognizes the importance of the visitor economy and decided to invest in destination promotion of the city as ‘True North’. The purpose of the study was to analyze the economic impact and stakeholder perceptions of destination promotion of the First City on the Mississippi as ‘True North’ using the case study method. Using a semi-structured guide consisting of 8 questions and additional probing questions, investigators engaged in 30-90 minute interviews with 20 key stakeholders. Data captured was then subjected to thematic analysis and interpretation. Through a review of literature and interview analysis, data indicate(1) there is increasing value in the visitor economy of the First City on the Mississippi,(2) the visitor economy warrants investments in destination promotion,(3) economic development can be more effective through coordination of destination promotion of as ‘True North’ and,(4) destination promotion fuels development across the entire economic spectrum. As a result, the First City on the Mississippi should prioritize marketing efforts of as ‘True North’ and coordinate these efforts with economic development initiatives. The destination promotion of the First City on the Mississippi as ‘True North’ may raise the communities profile and open doors to increased tourism, business relocation, business expansion, and entrepreneurs ready to start up a new organization.

Keywords: case study method, destination promotion, economic development, leisure and business travel

Procedia PDF Downloads 295

Authors: Nevruz Zogu, Shpetim Rezniqi

Abstract:

It is very important that a new environment where work shall be constructed in such a strong record to be creative and eligible for workers, can not have success in the workplace. But, is it possible to design the inner-inspire to create and collaborate? By watching and analyzing examples of creativity in business, construction managers can learn ways on how to encourage their imagination inside buildings. We struggle to find and retain talented employees and skilled labor environment is becoming more and always an important tool for recruiting and retaining employees. Managers who recognize the importance are gaining an edge over their competitors. The physical work environment is as important as its quality is often used as a recruiting tool and even to companies with The relationship between the company and the employees between strategy and behavior, between the product and the customer can reincorporated under the light of symbolic mediation of space, as instrument and interpreter of the core values and identity of the organization.

Keywords: strategy, business, quality, productivity, space, offices, assets

Procedia PDF Downloads 389

Authors: Hanania Nasan Shokry Abdelmasih

Abstract:

The interface between improvement and human rights has long been the subject of scholarly debate. As an end result, a hard and fast of principles, starting from the proper improvement to a human rights-based totally technique to development, have been adopted to understand the dynamics among the two concepts. In spite of those attempts, the precise link between development and human rights is not yet fully understood. However, the inevitable interdependence between the two standards and the idea that development efforts must be made while respecting human rights have received prominence in recent years. Then again, the emergence of sustainable development as a widely spread method in development dreams and rules similarly complicates this unresolved convergence. The place of sustainable improvement inside the human rights discourse and its role in ensuring the sustainability of improvement programs require systematic research. The purpose of this newsletter is, therefore, to take a look at the relationship between development and human rights, with particular attention to the area of the standards of sustainable improvement in international human rights regulation. It's going to examine whether it recognizes the proper to achieve sustainable improvement. Hence, the Article states that the principles of sustainable improvement are diagnosed immediately or implicitly in numerous human rights devices, which is an affirmative solution to the question posed above. Therefore, this report scrutinizes worldwide and local human rights gadgets, as well as the case regulation and interpretations of human rights in our bodies, to support this speculation.

Keywords: sustainable development, human rights, the right to development, the human rights-based approach to development, environmental rights, economic development, social sustainability human rights protection, human rights violations, workers’ rights, justice, security.

Procedia PDF Downloads 30

Authors: Claudio Di Benedetto, Irene Bengo

Abstract:

The objective of the paper is to study how large European companies develop social business (SB) at the base of the economic pyramid (BoP). BoP markets are defined as the four billions people living with an annual income below $3,260 in local purchasing power. Despite they are heterogeneous in terms of geographic range they present some common characteristics: the presence of significant unmet (social) needs, high level of informal economy and the so-called ‘poverty penalty’. As a result, most people living at BoP are excluded from the value created by the global market economy. But it is worth noting, that BoP population with an aggregate purchasing power of around $5 trillion a year, represent a huge opportunity for companies that want to enhance their long-term profitability perspective. We suggest that in this context, the development of SB is, for companies, an innovative and promising way to satisfy unmet social needs and to experience new forms of value creation. Indeed, SB can be considered a strategic model to develop CSR programs that fully integrate the social dimension into the business to create economic and social value simultaneously. Despite in literature many studies have been conducted on social business, only few have explicitly analyzed such phenomenon from a company perspective and their role in the development of such initiatives remains understudied with fragmented results. To fill this gap the paper analyzes the key characteristics of the social business initiatives developed by European companies at BoP. The study was performed analyzing 1475 European companies participating in the United Nation Global Compact, the world’s leading corporate social responsibility program. Through the analysis of the corporate websites the study identifies companies that actually do SB at BoP. For SB initiatives identified, information were collected according to a framework adapted from the SB model developed by preliminary results show that more than one hundred European companies have already implemented social businesses at BoP accounting for the 6,5% of the total. This percentage increases to 15% if the focus is on companies with more than 10.440 employees. In terms of geographic distribution 80% of companies doing SB at BoP are located in western and southern Europe. The companies more active in promoting SB belong to financial sector (20%), energy sector (17%) and food and beverage sector (12%). In terms of social needs addressed almost 30% of the companies develop SB to provide access to energy and WASH, 25% of companies develop SB to reduce local unemployment or to promote local entrepreneurship and 21% of companies develop SB to promote financial inclusion of poor. In developing SB companies implement different social business configurations ranging from forms of outsourcing to internal development models. The study identifies seven main configurations through which company develops social business and each configuration present distinguishing characteristics respect to the involvement of the company in the management, the resources provided and the benefits achieved. By performing different analysis on data collected the paper provides detailed insights on how European companies develop SB at BoP.

Keywords: base of the economic pyramid, corporate social responsibility, social business, social enterprise

Procedia PDF Downloads 226

Authors: Valeria Corinaldesi, Nicola Generosi, Jacopo Donnini

Abstract:

Ultra high performance concrete (UHPC) is an innovative material which tends to exhibit superior properties such as incredible mechanical and durability performance and non-brittleness behavior. Over the last twenty years, phenomenal advances have taken place in the research and application of UHPC. Recently, the approach is to improve UHPC sustainability by reducing its embodied energy. First of all, this goal can be achieved by reducing Portland cement dosage. In this work, an experimental investigation was carried out to characterize the mechanical behavior and durability of UHPCs prepared by reducing the cement amount by 30% in order to verify the impact of lower cement content and higher water-to-cement ratio on both mechanical performance and durability, if any. Eight different UHPC mixtures were compared, with two different cement dosages (either 1000 or 700 kg) and four different brass-coated steel fibres dosages (0 - 50 - 100 - 150 kg), in terms of 28-day compressive and flexural strengths. Then, the mixtures prepared with the lower cement content were further investigated in terms of abrasion resistance, water absorption, freezing and thawing cycles, and resistance to sulphate attack. Results obtained showed the feasibility of reducing cement dosage without compromising mechanical performance and UHPC's extraordinary durability.

Keywords: abrasion resistance, durability, eco-efficiency, freeze-thawing cycles, steel fibres, sulphate exposure, sustainability, UHPC

Procedia PDF Downloads 76

Authors: Ali Muhammad

Abstract:

The study investigates the effect of a number of contextual on the degree of trust within Kuwaiti business organizations. The model used in this study suggests that degree of trust within the organization is determined by four contextual variables, namely, centralization, formalization, role ambiguity, and procedural justice. Organizational trust refers to employee’ positive assumptions in regard to the goal and behaviors of other members in the organization according to organizational duties, relationships, experiences, and interrelatedness. According to the norm of reciprocity, individuals with high perceived organizational justice will be compelled to react positively to the organization in the form of higher degree of trust. The duty to exchange kindness for kindness. Based on the exchange theory, this research proposes that procedural justice, role clarity, and voice in the organization will lead to the perception of an organization’s discretionary positive treatment of employees and, in return enhances their trust in the organization. Survey data were collected from a sample of 206 employees working in Kuwaiti business organizations. Results of multiple regression analysis revealed that both organizational justice and formalization have positive effects on organizational trust. Furthermore, results indicate that lower degree of role ambiguity leads to higher degree of organizational trust. On the other hand, centralization was not found to have a significant effect on organizational trust. Implications of the findings and directions for future research are discussed.

Keywords: centralization, formalization, organizational justice, organizational trust, role ambiguity

Procedia PDF Downloads 189

Authors: Ilham Ihoume, Rachid Tadili, Nora Arbaoui

Abstract:

The use of solar energy in agricultural applications has gained significant at‎tention ‎‎in recent years as a sustainable and environmentally friendly alternative to ‎‎conventional energy sources. In particular, solar drying of crops has ‎been identified ‎‎as an effective method to preserve agricultural produce while ‎minimizing energy ‎‎consumption and reducing carbon emissions. In this context, the present study ‎‎aims to evaluate the thermo-economic and ecological ‎performance of a solar-electric hybrid greenhouse dryer designed for grape ‎drying. The proposed system ‎‎integrates solar collectors, an electric heater, ‎and a greenhouse structure to create a ‎‎controlled and energy-efficient environment for grape drying. The thermo-economic assessment involves the ‎analysis of the thermal performance, energy ‎‎consumption, and cost-effectiveness of the solar-electric hybrid greenhouse dryer. ‎‎On the other ‎hand, the ecological assessment focuses on the environmental impact ‎‎of the ‎system in terms of carbon emissions and sustainability. The findings of this ‎‎‎study are expected to contribute to the development of sustainable agricultural ‎‎practices and the promotion of renewable energy technologies in the ‎context of ‎‎food production. Moreover, the results may serve as a basis for the ‎design and ‎‎optimization of similar solar drying systems for other crops and ‎regions.‎

Keywords: solar energy, sustainability, agriculture, energy ‎‎analysis‎

Procedia PDF Downloads 62

Authors: Muhammad Umar Usman

Abstract:

This study investigates the entrepreneurial intentions, drivers and challenges of starting a business among final year students in Jigawa State polytechnic. Nigeria. Final year students of Jigawa State Polytechnic from the department of accounting, business administration and management and public administration were used as a case study. The study became necessary due to the alarming rate of graduate unemployment in Nigeria. The study adopted a holistic case study approach involving a multiple methods of questionnaires involving (182) Higher National Diploma (HND) and National Diploma (ND) final year students and a telephone interview with two lecturers teaching entrepreneurship in the college. The findings clearly indicate that exposer to entrepreneurship education increases students’ entrepreneurial intentions. The result found that desire for independence, confidence and strong intention are the most important factors that influence students’ entrepreneurial intention. The study identified 3 key drivers of students’ entrepreneurial intentions. These are to earn a living, to seek job security and provision of employment. The result again identified 4 factors namely lack of support, finance, insecurity and erratic power supply as the major challenges in starting a business in Nigeria. It was also revealed that the current entrepreneurship education programme prepares students on how to open up a business not becoming an entrepreneur. The study concluded entrepreneurship helps students toward building and driving their intention to venture into business. However, the challenges of entrepreneurship in Nigeria need to be addressed in order to enable individuals to become an entrepreneur and create employment opportunities that will lead to the development of Nigerian economy. Thus, the government should provide adequate support particularly the issue of infrastructures. The Federal Government of Nigeria in collaboration with the National Board for Technical Education should fashion out the curriculum thereby making it more practically-oriented so that students may become more interested. Polytechnics should develop an internship programme for students to work in firms so as to put theory learnt in the class to practice. Students should try to align the theory learnt in college with the practical application in dynamic economic environment. Hence, this will help in building their capabilities toward entrepreneurship development in Nigeria.

Keywords: entrepreneurial intention, entrepreneurial drivers, challenges, entrepreneurial education

Procedia PDF Downloads 301

Authors: Rishabh Garg

Abstract:

Traditionally, business parties build trust with a centralized operating mechanism, such as payment by letter of credit. However, the increase in cyber-attacks and malicious hacking has jeopardized business operations and finance practices. Emerging markets, owing to their higher banking risks and bigger presence of digital financing, are looking forward to technology-driven solutions, financial inclusion and innovative working paradigms. Blockchain has the potential to enhance transaction transparency and supply chain traceability. It has captured a vast landscape with 200 million crypto users worldwide. Fintech and blockchain products are popping up across brokerage, digital wallets, exchanges, post-trade clearance, settlement, middleware, infrastructure, and base protocols.

Keywords: blockchain, distributed ledger technology, decentralized applications, ethereum, smart contracts, trade finance

Procedia PDF Downloads 155