Search results for: business judgment rule
3823 Conscious Capitalism, Conscious Leadership, and Contemplative Management Education: Exploring Pedagogical Implications
Authors: Charlie Yang
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The idea that business practitioners urgently need a more holistic and humanistic philosophy about the free market economy has gained some attraction among business practitioners and business professors. Those who have endorsed “conscious capitalism” as an emerging business philosophy also contended that business education should be grounded in a more positive understanding of capitalism, which enables future business leaders to have a greater impact on the world. This study is designed to critically examine the theoretical foundations of conscious capitalism and its practical and pedagogical possibilities as an emerging business movement. Based on the analysis of qualitative data collected through reflective essays written by business students, I will discuss the pedagogical and practical implications for developing conscious leadership in the context of more transformative and contemplative management education.Keywords: conscious capitalism, conscious leadership, contemplative management education, contemplative pedagogy
Procedia PDF Downloads 583822 Business Incubation of SMEs in India : A Case Study
Authors: Dinesh Khanduja, Sahib Sartaj Singh
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In India, among the start ups, many new ventures fail and for the few that survive and grow, there are always numerous problems. In order to make these surviving units productive and cost effective-in today’s competitive environment, the traditional ways of supporting small enterprises and the related programs of governmental assistance need to be significantly transformed. In this context, ‘Business Incubation’ is emerging as one of the most innovative instruments to support small enterprise creation and development all over the world. Incubators, by providing on the-spot diagnosis and treatment of business problems, dramatically lower the early stage failure rate. In Europe, US and countries like China, Singapore, Thailand etc., the exceptionally fast growth of business incubators has baffled even the researchers. In this direction in India, following on the world pattern, several initiatives have been taken over the last decade to encourage the concept of business incubation. Besides profiling the existing ‘Business Incubators’ in India, the paper dwells upon a case study of SMEs in state of Punjab for exploring the relevance of business incubation for enhancing their productive capacity.Keywords: business incubation, Technology Business Incubator (TBI), Rural Business Hub (RBH), entrepreneurship, Business Development Services (BDS), technology management
Procedia PDF Downloads 4883821 Nigerian Central Bank Governor’s Autonomy: Disregard of Procedure for Removal Vis-A-Vis the Rule of Law
Authors: Adeola Ayodele Oluwabiyi
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The study undertook an in depth examination of the relevant sections of the Nigerian Constitution and the Central Bank of Nigeria (CBN) Act as it relates to the appointment and removal of the CBN Governor; It analysed the Constitutional issues that arose from the removal of the immediate past Governor of the CBN; and made recommendations as appropriate. The study relied on primary and secondary sources of information. The primary sources included the Constitution of the Federal Republic of Nigeria, Statutes, Conventions and Judicial decisions, while the secondary sources included Books, Journals Articles, Newspapers and Internet Materials. The study revealed that the removal of the CBN Governor was not in accordance with the Nigerian Constitution and the CBN Act that Guarantee such. It also revealed some of the arguments in support of the removal. The study concluded that the removal of the immediate past Governor of CBN was an outright disregard for the rule of law. The study concluded that if Government treat the laws in question with levity and contempt the confidence of the citizens in such government will be seriously eroded and the effect of that will be the beginning of anarchy in replacement of the rule of law. It could also have serious economic implications on the economy of any nation.Keywords: central bank, governor, laws, Nigeria
Procedia PDF Downloads 3843820 A Comparison of Brands Equity between Samsung and Apple in the View of Students of Management Science Faculty, Suan Sunandha Rajabhat University
Authors: Somsak Klaysung
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This study aims to investigate the comparison of brands equity between Samsung and Apple from students of Suan Sunandha Rajabhat University. The research method will using quantitative research, data was collected by questionnaires distributed to communication of arts students in the faculty of management science of Suan Sunandha Rajabhat University for 100 samples by purposive sampling method. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and inferential statistic is t-test for hypothesis testing. The results showed that brands equity between Apple and Samsung brand have the ability to recognize brand from the customer by perceived value of the uniqueness of brand and recall when in a situation that must be purchased (Salience), which is the lowest level in branding and consumers can recognize the capacity of the product (Judgment) and opinions about the quality and reliability when it comes to mobile phones Apple and Samsung brand are not different.Keywords: Apple and Samsung brand, brand equity, judgment, performance, resonance, salience
Procedia PDF Downloads 2033819 Diagnose of the Future of Family Businesses Based on the Study of Spanish Family Businesses Founders
Authors: Fernando Doral
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Family businesses are a key phenomenon within the business landscape. Nevertheless, it involves two terms (“family” and “business”) which are nowadays rapidly evolving. Consequently, it isn't easy to diagnose if a family business will be a growing or decreasing phenomenon, which is the objective of this study. For that purpose, a sample of 50 Spanish-established companies from various sectors was taken. Different factors were identified for each enterprise, related to the profile of the founders, such as age, the number of sons and daughters, or support received from the family at the moment to start it up. That information was taken as an input for a clustering method to identify groups, which could help define the founders' profiles. That characterization was carried as a base to identify three factors whose evolution should be analyzed: family structures, business landscape and entrepreneurs' motivations. The analysis of the evolution of these three factors seems to indicate a negative tendency of family businesses. Therefore the consequent diagnosis of this study is to consider family businesses as a declining phenomenon.Keywords: business diagnose, business trends, family business, family business founders
Procedia PDF Downloads 1913818 Decision Making System for Clinical Datasets
Authors: P. Bharathiraja
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Computer Aided decision making system is used to enhance diagnosis and prognosis of diseases and also to assist clinicians and junior doctors in clinical decision making. Medical Data used for decision making should be definite and consistent. Data Mining and soft computing techniques are used for cleaning the data and for incorporating human reasoning in decision making systems. Fuzzy rule based inference technique can be used for classification in order to incorporate human reasoning in the decision making process. In this work, missing values are imputed using the mean or mode of the attribute. The data are normalized using min-ma normalization to improve the design and efficiency of the fuzzy inference system. The fuzzy inference system is used to handle the uncertainties that exist in the medical data. Equal-width-partitioning is used to partition the attribute values into appropriate fuzzy intervals. Fuzzy rules are generated using Class Based Associative rule mining algorithm. The system is trained and tested using heart disease data set from the University of California at Irvine (UCI) Machine Learning Repository. The data was split using a hold out approach into training and testing data. From the experimental results it can be inferred that classification using fuzzy inference system performs better than trivial IF-THEN rule based classification approaches. Furthermore it is observed that the use of fuzzy logic and fuzzy inference mechanism handles uncertainty and also resembles human decision making. The system can be used in the absence of a clinical expert to assist junior doctors and clinicians in clinical decision making.Keywords: decision making, data mining, normalization, fuzzy rule, classification
Procedia PDF Downloads 5033817 Corporate Demography: An Unexplored Trend along the Latin American Context
Authors: Jesus Argueta
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This study aims to explore the Business Demography Phenomena along the Central American context, through the examination of its theoretical background, and the revision of Central American corporations success stories, that will eventually guide this research towards the business Demography Key Performance Indicators, across the Central American Business Ambiance. Considering that this analysis will support the development of a Small and Medium Business Observatory over the Honduran commercial landscapes, as platform for the reinforcement of this global topic.Keywords: business demography, economic dynamism, small, medium and large enterprises, corporate demography
Procedia PDF Downloads 5183816 Bridging the Gap between Different Interfaces for Business Process Modeling
Authors: Katalina Grigorova, Kaloyan Mironov
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The paper focuses on the benefits of business process modeling. Although this discipline is developing for many years, there is still necessity of creating new opportunities to meet the ever-increasing users’ needs. Because one of these needs is related to the conversion of business process models from one standard to another, the authors have developed a converter between BPMN and EPC standards using workflow patterns as intermediate tool. Nowadays there are too many systems for business process modeling. The variety of output formats is almost the same as the systems themselves. This diversity additionally hampers the conversion of the models. The presented study is aimed at discussing problems due to differences in the output formats of various modeling environments.Keywords: business process modeling, business process modeling standards, workflow patterns, converting models
Procedia PDF Downloads 5693815 Artificial Intelligence Ethics: What Business Leaders Need to Consider for the Future
Authors: Kylie Leonard
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Investment in artificial intelligence (AI) can be an attractive opportunity for business leaders as there are many easy-to-see benefits. These benefits include task completion rates, overall cost, and better forecasting. Business leaders are often unaware of the challenges that can accompany AI, such as data center costs, access to data, employee acceptance, and privacy concerns. In addition to the benefits and challenges of AI, it is important to practice AI ethics to ensure the safe creation of AI. AI ethics include aspects of algorithm bias, limits in transparency, and surveillance. To be a good business leader, it is critical to address all the considerations involving the challenges of AI and AI ethics.Keywords: artificial intelligence, artificial intelligence ethics, business leaders, business concerns
Procedia PDF Downloads 1323814 Analyzing Business Model Choices and Sustainable Value Capturing: A Multiple Case Study of Sharing Economy Business Models
Authors: Minttu Laukkanen, Janne Huiskonen
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This study investigates the sharing economy business models as examples of the sustainable business models. The aim is to contribute to the limited literature on sharing economy in connection with sustainable business models by explaining sharing economy business models value capturing. Specifically, this research answers the following question: How business model choices affect captured sustainable value? A multiple case study approach is applied in this study. Twenty different successful sharing economy business models focusing on consumer business and covering four main areas, accommodation, mobility, food, and consumer goods, are selected for analysis. The secondary data available on companies’ websites, previous research, reports, and other public documents are used. All twenty cases are analyzed through the sharing economy business model framework and sustainable value analysis framework using qualitative data analysis. This study represents general sharing economy business model value attributes and their specifications, i.e. sustainable value propositions for different stakeholders, and further explains the sustainability impacts of different sharing economy business models through captured and uncaptured value. In conclusion, this study represents how business model choices affect sustainable value capturing through eight business model attributes identified in this study. This paper contributes to the research on sustainable business models and sharing economy by examining how business model choices affect captured sustainable value. This study highlights the importance of careful business model and sustainability impacts analyses including the triple bottom line, multiple stakeholders and value captured and uncaptured perspectives as well as sustainability trade-offs. It is not self-evident that sharing economy business models advance sustainability, and business model choices does matter.Keywords: sharing economy, sustainable business model innovation, sustainable value, value capturing
Procedia PDF Downloads 1603813 On Exploring Search Heuristics for improving the efficiency in Web Information Extraction
Authors: Patricia Jiménez, Rafael Corchuelo
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Nowadays the World Wide Web is the most popular source of information that relies on billions of on-line documents. Web mining is used to crawl through these documents, collect the information of interest and process it by applying data mining tools in order to use the gathered information in the best interest of a business, what enables companies to promote theirs. Unfortunately, it is not easy to extract the information a web site provides automatically when it lacks an API that allows to transform the user-friendly data provided in web documents into a structured format that is machine-readable. Rule-based information extractors are the tools intended to extract the information of interest automatically and offer it in a structured format that allow mining tools to process it. However, the performance of an information extractor strongly depends on the search heuristic employed since bad choices regarding how to learn a rule may easily result in loss of effectiveness and/or efficiency. Improving search heuristics regarding efficiency is of uttermost importance in the field of Web Information Extraction since typical datasets are very large. In this paper, we employ an information extractor based on a classical top-down algorithm that uses the so-called Information Gain heuristic introduced by Quinlan and Cameron-Jones. Unfortunately, the Information Gain relies on some well-known problems so we analyse an intuitive alternative, Termini, that is clearly more efficient; we also analyse other proposals in the literature and conclude that none of them outperforms the previous alternative.Keywords: information extraction, search heuristics, semi-structured documents, web mining.
Procedia PDF Downloads 3243812 A Review of Literature for Online Social Network Business Continuance Intention and the Hypotheses Thereof
Authors: Akwesi Assensoh-Kodua
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Online Social Networks (OSN) has come and gone, yet the explosion of business activities on such platforms continuous to surge high, giving advantage to the bold entrepreneurs. It is therefore a practical requirement that practitioners and researchers understand the key determinants of costumers’ online social network business activities and continuance intention. An exploratory literature research to examine OSN continuous intention of business participants on OSN revealed that the practice of doing business on social network has come to stay and the following factors are the likely drivers for this new business model: perceived trust, perceived ease of use, confirmation, habit, social norm, perceived behavioural control, expected benefit, and satisfaction are the most probable factors that can lead to online social network (OSN) continuance intention.Keywords: online social network, continuance intention, business continuance
Procedia PDF Downloads 4803811 A Holistic Workflow Modeling Method for Business Process Redesign
Authors: Heejung Lee
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In a highly competitive environment, it becomes more important to shorten the whole business process while delivering or even enhancing the business value to the customers and suppliers. Although the workflow management systems receive much attention for its capacity to practically support the business process enactment, the effective workflow modeling method remain still challenging and the high degree of process complexity makes it more difficult to gain the short lead time. This paper presents a workflow structuring method in a holistic way that can reduce the process complexity using activity-needs and formal concept analysis, which eventually enhances the key performance such as quality, delivery, and cost in business process.Keywords: workflow management, re-engineering, formal concept analysis, business process
Procedia PDF Downloads 3993810 A Conceptual E-Business Model and the Effect of Strategic Planning Parameters on E-Business Strategy Management and Performance
Authors: Alexandra Lipitakis, Evangelia A. E. C. Lipitakis
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In this article, a class of e-business strategy planning parameters are introduced and their effect on financial and non-financial performance of e-businesses and organizations is investigated. The relationships between these strategic planning parameters, i.e. Formality, Participation, Sophistication, Thoroughness, Synergy and Cooperation, Entropic Factor, Adaptivity, Uncertainty and Financial and Non-Financial Performance are examined and the directions of these relationships are given. A conceptual model has been constructed and quantitative research methods can be used to test the considered eight hypotheses. In the framework of e-business strategy planning this research study clearly demonstrates how strategic planning components have positive relationships with e-business strategy management and performance.Keywords: e-business management, e-business model, e-business performance assessments, strategy management methodologies, strategy planning, quantitative methods
Procedia PDF Downloads 3753809 Effect of Company Value, Leadership, and Ownership Succession on Financial Performance of Family Business
Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi
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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.Keywords: company value, family business, financial performance, leadership succession, ownership succession
Procedia PDF Downloads 1143808 Proposing an Improved Managerial-Based Business Process Framework
Authors: Alireza Nikravanshallmani, Jamshid Dehmeshki, Mojtaba Ahmadi
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Modeling of business processes, based on BPMN (Business Process Modeling Notation), helps analysts and managers to understand business processes, and, identify their shortages. These models provide a context to make rational decision of organizing business processes activities in an understandable manner. The purpose of this paper is to provide a framework for better understanding of business processes and their problems by reducing the cognitive load of displayed information for their audience at different managerial levels while keeping the essential information which are needed by them. For this reason, we integrate business process diagrams across the different managerial levels to develop a framework to improve the performance of business process management (BPM) projects. The proposed framework is entitled ‘Business process improvement framework based on managerial levels (BPIML)’. This framework, determine a certain type of business process diagrams (BPD) based on BPMN with respect to the objectives and tasks of the various managerial levels of organizations and their roles in BPM projects. This framework will make us able to provide the necessary support for making decisions about business processes. The framework is evaluated with a case study in a real business process improvement project, to demonstrate its superiority over the conventional method. A questionnaire consisted of 10 questions using Likert scale was designed and given to the participants (managers of Bank Refah Kargaran three managerial levels). By examining the results of the questionnaire, it can be said that the proposed framework provide support for correct and timely decisions by increasing the clarity and transparency of the business processes which led to success in BPM projects.Keywords: business process management (BPM), business process modeling, business process reengineering (BPR), business process optimizing, BPMN
Procedia PDF Downloads 4403807 An Approach for Association Rules Ranking
Authors: Rihab Idoudi, Karim Saheb Ettabaa, Basel Solaiman, Kamel Hamrouni
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Medical association rules induction is used to discover useful correlations between pertinent concepts from large medical databases. Nevertheless, ARs algorithms produce huge amount of delivered rules and do not guarantee the usefulness and interestingness of the generated knowledge. To overcome this drawback, we propose an ontology based interestingness measure for ARs ranking. According to domain expert, the goal of the use of ARs is to discover implicit relationships between items of different categories such as ‘clinical features and disorders’, ‘clinical features and radiological observations’, etc. That’s to say, the itemsets which are composed of ‘similar’ items are uninteresting. Therefore, the dissimilarity between the rule’s items can be used to judge the interestingness of association rules; the more different are the items, the more interesting the rule is. In this paper, we design a distinct approach for ranking semantically interesting association rules involving the use of an ontology knowledge mining approach. The basic idea is to organize the ontology’s concepts into a hierarchical structure of conceptual clusters of targeted subjects, where each cluster encapsulates ‘similar’ concepts suggesting a specific category of the domain knowledge. The interestingness of association rules is, then, defined as the dissimilarity between corresponding clusters. That is to say, the further are the clusters of the items in the AR, the more interesting the rule is. We apply the method in our domain of interest – mammographic domain- using an existing mammographic ontology called Mammo with the goal of deriving interesting rules from past experiences, to discover implicit relationships between concepts modeling the domain.Keywords: association rule, conceptual clusters, interestingness measures, ontology knowledge mining, ranking
Procedia PDF Downloads 3143806 Several Aspects of the Conceptual Framework of Financial Reporting
Authors: Nadezhda Kvatashidze
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The conceptual framework of International Financial Reporting Standards determines the basic principles of accounting. The said principles have multiple applications, with professional judgments being one of those. Recognition and assessment of the information contained in financial reporting, especially so the somewhat uncertain events and transactions and/or the ones regarding which there is no standard or interpretation are based on professional judgments. Professional judgments aim at the formulation of expert assumptions regarding the specifics of the circumstances and events to be entered into the report based on the conceptual framework terms and principles. Experts have to make a choice in favor of one of the aforesaid and simulate the situations applying multi-variant accounting estimates and judgment. In making the choice, one should consider all the factors, which may help represent the information in the best way possible. Professional judgment determines the relevance and faithful representation of the presented information, which makes it more useful for the existing and potential investors. In order to assess the prospected net cash flows, the information must be predictable and reliable. The publication contains critical analysis of the aforementioned problems. The fact that the International Financial Reporting Standards are developed continuously makes the issue all the more important and that is another point discussed in the study.Keywords: conceptual framework, faithful representation, professional judgement, relevance
Procedia PDF Downloads 2073805 Gender-Based Differences in the Social Judgment of Hungarian Politicians' Sex Scandals
Authors: Sara Dalma Galgoczi, Judith Gabriella Kengyel
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Sex scandals are quite an engaging topic to work with, especially with their judgment in society. Most people are interested in other people's lives, specifically in public figures' such as celebrities or politicians, because ordinary people feel like they have the right to know more things about the famous and notorious ones than they would probably willing to share. Intimacy and sexual acts aren't exceptions; moreover, sexuality is one of the central interests of humans ever since. Besides, knowing and having an opinion about any kind of scandal can change even whole social groups or classes estimation of anyone. This study aims to research the social judgment of some Hungarian politicians' sex scandals and asks important questions like diverse public opinions in the light of gender or delegates’ abuse of power. Considering that this study is about collecting and evaluating opinions from the public, and no one before researched and published this exact topic and cases, an online survey was created. In the survey were different sections. We collected data about party-preference, conservativism-liberalism scale; then we used the following questionnaires: from Zero-sum perspective with regard to gender equality (Ruthig, Kehn, Gamblin, Vanderzanden & Jones, 2017), Ambivalent Sexism Inventory (ASI; Glick & Fiske, 1996), Ambivalence Toward Men Inventory (AMI; Glick & Fiske, 1999). Finally, 5 short summaries were presented about five Hungarian politicians' sex scandal cases (3 males, 2 females) from the recent past. These stories were followed by questions about their opinion of the party and attitudes towards the parties' reactions to the cases. We came to the conclusion that people are more permissive with the scandals of men, and benevolent sexism and ambivalence towards men mediate this relation. Men tend to see these cases as part of politicians' private lives more than women. Party preference had a significant effect - people tend to pass a sentence the delegates of the opposing parties, and they rather release the delegates of their preferred party.Keywords: sex scandal, sexism, social judgement, politician
Procedia PDF Downloads 1073804 Value Chain Based New Business Opportunity
Authors: Seonjae Lee, Sungjoo Lee
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Excavation is necessary to remain competitive in the current business environment. The company survived the rapidly changing industry conditions by adapting new business strategy and reducing technology challenges. Traditionally, the two methods are conducted excavations for new businesses. The first method is, qualitative analysis of expert opinion, which is gathered through opportunities and secondly, new technologies are discovered through quantitative data analysis of method patents. The second method increases time and cost. Patent data is restricted for use and the purpose of discovering business opportunities. This study presents the company's characteristics (sector, size, etc.), of new business opportunities in customized form by reviewing the value chain perspective and to contributing to creating new business opportunities in the proposed model. It utilizes the trademark database of the Korean Intellectual Property Office (KIPO) and proprietary company information database of the Korea Enterprise Data (KED). This data is key to discovering new business opportunities with analysis of competitors and advanced business trademarks (Module 1) and trading analysis of competitors found in the KED (Module 2).Keywords: value chain, trademark, trading analysis, new business opportunity
Procedia PDF Downloads 3613803 Effects of Corporate Social Responsibility on Individual Investors’ Judgment on Investment Risk: Experimental Evidence from China
Authors: Huayun Zhai, Quan Hu, Wei-Chih Chiang, Jianjun Du
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By applying experimental methodology in the framework of the behavior-perception theory, this paper studies the relationship between information quality of corporates’ social responsibility (CSR) and individual investors’ risk perception, intermediated with individual investors’ perception on CSR. The findings are as follows: In general, the information quality of CSR significantly influences individual investors’ perception on investment risks. Furthermore, certification on CSR can help reinforce such perceptions. The higher the reporting quality of CSR is, accompanied by the certification by an independent third party, the more likely individual investors recognize the responsibilities. The research also found that the perception on CSR not only plays a role of intermediation between information quality about CSR and investors’ perception on investment risk but also intermediates the certification of CSR reports and individual investors’ judgment on investment risks. The main contributions of the research are in two folds. The first is that it supplements the research on CSR from the perspective of investors’ perceptions. The second is that the research provides theoretical and experimental evidence for enterprises to implement and improve reports on their social responsibilities.Keywords: information quality, corporate social responsibility, report certification, individual investors’ perception on risk, perception of corporate social responsibility
Procedia PDF Downloads 573802 Foodxervices Inc.: Corporate Responsibility and Business as Usual
Authors: Allan Chia, Gabriel Gervais
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The case study on FoodXervices Inc shows how businesses need to reinvent and transform themselves in order to adapt and thrive and it also features how an SME can also devote resources to CSR causes. The company, Ng Chye Mong, was set up in 1937 and it went through ups and downs and encountered several failures and successes. In the 1970’s, the management of the company was entrusted to the next generation who continued to manage and expanded the business. In early 2003, the business encountered several challenges. A pair of siblings from the next generation of the Ng family joined the business fulltime and together they set-out to transform the company into FoodXervices Inc. In 2012, they started a charity, Food Bank Singapore Pte Ltd. The authors conducted case study research involving a series of in-depth interviews with the business owner and staff. This case study is an example of how to run a business and coordinate a charity concurrently while mobilising the same resources. The uniqueness of this case is the operational synergy of both the business and charity to promote corporate responsibility causes and initiatives in Singapore.Keywords: family-owned business, charity, corporate social responsibility, branding
Procedia PDF Downloads 4293801 Development of Mechanisms of Value Creation and Risk Management Organization in the Conditions of Transformation of the Economy of Russia
Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Eugenia V. Klicheva
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In modern conditions, scientific judgment of problems in developing mechanisms of value creation and risk management acquires special relevance. Formation of economic knowledge has resulted in the constant analysis of consumer behavior for all players from national and world markets. Effective mechanisms development of the demand analysis, crucial for consumer's characteristics of future production, and the risks connected with the development of this production are the main objectives of control systems in modern conditions. The modern period of economic development is characterized by a high level of globalization of business and rigidity of competition. At the same time, the considerable share of new products and services costs has a non-material intellectual nature. The most successful in Russia is the contemporary development of small innovative firms. Such firms, through their unique technologies and new approaches to process management, which form the basis of their intellectual capital, can show flexibility and succeed in the market. As a rule, such enterprises should have very variable structure excluding the tough scheme of submission and demanding essentially new incentives for inclusion of personnel in innovative activity. Realization of similar structures, as well as a new approach to management, can be constructed based on value-oriented management which is directed to gradual change of consciousness of personnel and formation from groups of adherents included in the solution of the general innovative tasks. At the same time, valuable changes can gradually capture not only innovative firm staff, but also the structure of its corporate partners. Introduction of new technologies is the significant factor contributing to the development of new valuable imperatives and acceleration of the changing values systems of the organization. It relates to the fact that new technologies change the internal environment of the organization in a way that the old system of values becomes inefficient in new conditions. Introduction of new technologies often demands change in the structure of employee’s interaction and training in their new principles of work. During the introduction of new technologies and the accompanying change in the value system, the structure of the management of the values of the organization is changing. This is due to the need to attract more staff to justify and consolidate the new value system and bring their view into the motivational potential of the new value system of the organization.Keywords: value, risk, creation, problems, organization
Procedia PDF Downloads 2703800 International College Students Understand Entrepreneurial Readiness and Business-Related Skills: A Qualitative Study
Authors: Aleksandar Chonevski
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The free-market economy provides many opportunities for entrepreneurship or starting one’s own business, attracting many students to study business at for-profit colleges in the United States. This is also true for international students, many of whom are filled with the hope of making a better life for themselves and their families through entrepreneurial endeavors. This qualitative research showed that not all graduates business students start their own business. In investigating this phenomenon, the effectiveness of entrepreneurship curricula at international colleges needs to be examined in order to adjust, improve and reform entrepreneurship curricula. This qualitative study will explore how business skills learned in college for-profit play a role in the entrepreneurial readiness of undergraduate business students in the south Florida. Business curricula helps international students achieve goals and transform their actions to understand challenges in a corporate society. Students will be interviewed to gain information about the students’ experience with entrepreneurship curricula in a for-profit college in south Florida.Keywords: business skills, college curriculum, entrepreneurial readiness, international students
Procedia PDF Downloads 623799 Validating the Micro-Dynamic Rule in Opinion Dynamics Models
Authors: Dino Carpentras, Paul Maher, Caoimhe O'Reilly, Michael Quayle
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Opinion dynamics is dedicated to modeling the dynamic evolution of people's opinions. Models in this field are based on a micro-dynamic rule, which determines how people update their opinion when interacting. Despite the high number of new models (many of them based on new rules), little research has been dedicated to experimentally validate the rule. A few studies started bridging this literature gap by experimentally testing the rule. However, in these studies, participants are forced to express their opinion as a number instead of using natural language. Furthermore, some of these studies average data from experimental questions, without testing if differences existed between them. Indeed, it is possible that different topics could show different dynamics. For example, people may be more prone to accepting someone's else opinion regarding less polarized topics. In this work, we collected data from 200 participants on 5 unpolarized topics. Participants expressed their opinions using natural language ('agree' or 'disagree') and the certainty of their answer, expressed as a number between 1 and 10. To keep the interaction based on natural language, certainty was not shown to other participants. We then showed to the participant someone else's opinion on the same topic and, after a distraction task, we repeated the measurement. To produce data compatible with standard opinion dynamics models, we multiplied the opinion (encoded as agree=1 and disagree=-1) with the certainty to obtain a single 'continuous opinion' ranging from -10 to 10. By analyzing the topics independently, we observed that each one shows a different initial distribution. However, the dynamics (i.e., the properties of the opinion change) appear to be similar between all topics. This suggested that the same micro-dynamic rule could be applied to unpolarized topics. Another important result is that participants that change opinion tend to maintain similar levels of certainty. This is in contrast with typical micro-dynamics rules, where agents move to an average point instead of directly jumping to the opposite continuous opinion. As expected, in the data, we also observed the effect of social influence. This means that exposing someone with 'agree' or 'disagree' influenced participants to respectively higher or lower values of the continuous opinion. However, we also observed random variations whose effect was stronger than the social influence’s one. We even observed cases of people that changed from 'agree' to 'disagree,' even if they were exposed to 'agree.' This phenomenon is surprising, as, in the standard literature, the strength of the noise is usually smaller than the strength of social influence. Finally, we also built an opinion dynamics model from the data. The model was able to explain more than 80% of the data variance. Furthermore, by iterating the model, we were able to produce polarized states even starting from an unpolarized population. This experimental approach offers a way to test the micro-dynamic rule. This also allows us to build models which are directly grounded on experimental results.Keywords: experimental validation, micro-dynamic rule, opinion dynamics, update rule
Procedia PDF Downloads 1443798 An Intelligent Nondestructive Testing System of Ultrasonic Infrared Thermal Imaging Based on Embedded Linux
Authors: Hao Mi, Ming Yang, Tian-yue Yang
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Ultrasonic infrared nondestructive testing is a kind of testing method with high speed, accuracy and localization. However, there are still some problems, such as the detection requires manual real-time field judgment, the methods of result storage and viewing are still primitive. An intelligent non-destructive detection system based on embedded linux is put forward in this paper. The hardware part of the detection system is based on the ARM (Advanced Reduced Instruction Set Computer Machine) core and an embedded linux system is built to realize image processing and defect detection of thermal images. The CLAHE algorithm and the Butterworth filter are used to process the thermal image, and then the boa server and CGI (Common Gateway Interface) technology are used to transmit the test results to the display terminal through the network for real-time monitoring and remote monitoring. The system also liberates labor and eliminates the obstacle of manual judgment. According to the experiment result, the system provides a convenient and quick solution for industrial non-destructive testing.Keywords: remote monitoring, non-destructive testing, embedded Linux system, image processing
Procedia PDF Downloads 2083797 Value Chain Identification of Beekeeping Business in Indonesia: Case Study of Four Beekeeping Business in West Java
Authors: Dwi Purnomo, Anas Bunyamin, Fajar Susilo, Akbar Anugrah
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Beekeeping became a rural economic buffer, especially for people who lived by forest side to diversify their food or sell the honey and bee colony. Aside from the high price of honey and it’s derivative products, there is another revenue stream along beekeeping value chain that could be optimized by the people. There are five of nine honey bee species in the world, exist in Indonesia, such as Apis Cerana, Apis Dorsata, Apis Andreniformis, Apis Koschevnikovi, and Apis Nigrocincta. Indonesian farmer generally developed Apis Cerana and two other honey bees species, like Apis Mellifera and Trigona. This study tried to identify, how beekeeping business practices, challenges and opportunities in four beekeeping business in West Java through the value chain along the business. Data carried out by literature review, interview and focus group discussion with key actors in beekeeping business. There are six revenue stream in beekeeping business in West Java, such as brood hunter, beehives maker, agroforestry, agro-tourism, honey and derivatives products and bee acupuncture. This assesses conclude any criteria that should grasp for developing and sustaining beekeeping business in West Java.Keywords: beekeeping business, business developing, value chain, West Java
Procedia PDF Downloads 1923796 Classification of Business Models of Italian Bancassurance by Balance Sheet Indicators
Authors: Andrea Bellucci, Martina Tofi
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The aim of paper is to analyze business models of bancassurance in Italy for life business. The life insurance business is very developed in the Italian market and banks branches have 80% of the market share. Given its maturity, the life insurance market needs to consolidate its organizational form to allow for the development of non-life business, which nowadays collects few premiums but represents a great opportunity to enlarge the market share of bancassurance using its strength in the distribution channel while the market share of independent agents is decreasing. Starting with the main business model of bancassurance for life business, this paper will analyze the performances of life companies in the Italian market by balance sheet indicators and by main discriminant variables of business models. The study will observe trends from 2013 to 2015 for the Italian market by exploiting a database managed by Associazione Nazionale delle Imprese di Assicurazione (ANIA). The applied approach is based on a bottom-up analysis starting with variables and indicators to define business models’ classification. The statistical classification algorithm proposed by Ward is employed to design business models’ profiles. Results from the analysis will be a representation of the main business models built by their profile related to indicators. In that way, an unsupervised analysis is developed that has the limit of its judgmental dimension based on research opinion, but it is possible to obtain a design of effective business models.Keywords: bancassurance, business model, non life bancassurance, insurance business value drivers
Procedia PDF Downloads 2863795 Telehealth Ecosystem: Challenge and Opportunity
Authors: Rattakorn Poonsuph
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Technological innovation plays a crucial role in virtual healthcare services. A growing number of telehealth platforms are concentrating on using digital tools to improve the quality and availability of care. As a result, telehealth represents an opportunity to redesign the way health services are delivered. The research objective is to discover a new business model for digital health services and related industries to participate with telehealth solutions. The business opportunity is valuable for healthcare investors as a startup company to further investigations or implement the telehealth platform. The paper presents a digital healthcare business model and business opportunities to related industries. These include digital healthcare services extending from a traditional business model and use cases of business opportunities to related industries. Although there are enormous business opportunities, telehealth is still challenging due to the patient adaption and digital transformation process within a healthcare organization.Keywords: telehealth, Internet hospital, HealthTech, InsurTech
Procedia PDF Downloads 1563794 Fuzzy Set Qualitative Comparative Analysis in Business Models' Study
Authors: K. Debkowska
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The aim of this article is presenting the possibilities of using Fuzzy Set Qualitative Comparative Analysis (fsQCA) in researches concerning business models of enterprises. FsQCA is a bridge between quantitative and qualitative researches. It's potential can be used in analysis and evaluation of business models. The article presents the results of a study conducted on the basis of enterprises belonging to different sectors: transport and logistics, industry, building construction, and trade. The enterprises have been researched taking into account the components of business models and the financial condition of companies. Business models are areas of complex and heterogeneous nature. The use of fsQCA has enabled to answer the following question: which components of a business model and in which configuration influence better financial condition of enterprises. The analysis has been performed separately for particular sectors. This enabled to compare the combinations of business models' components which actively influence the financial condition of enterprises in analyzed sectors. The following components of business models were analyzed for the purposes of the study: Key Partners, Key Activities, Key Resources, Value Proposition, Channels, Cost Structure, Revenue Streams, Customer Segment and Customer Relationships. These components of the study constituted the variables shaping the financial results of enterprises. The results of the study lead us to believe that fsQCA can help in analyzing and evaluating a business model, which is important in terms of making a business decision about the business model used or its change. In addition, results obtained by fsQCA can be applied by all stakeholders connected with the company.Keywords: business models, components of business models, data analysis, fsQCA
Procedia PDF Downloads 164