Search results for: circular business models
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 9703

Search results for: circular business models

9553 Unsteady Forced Convection Flow and Heat Transfer Past a Blunt Headed Semi-Circular Cylinder at Low Reynolds Numbers

Authors: Y. El Khchine, M. Sriti

Abstract:

In the present work, the forced convection heat transfer and fluid flow past an unconfined semi-circular cylinder is investigated. The two-dimensional simulation is employed for Reynolds numbers ranging from 10 ≤ Re ≤ 200, employing air (Pr = 0.71) as an operating fluid with Newtonian constant physics property. Continuity, momentum, and energy equations with appropriate boundary conditions are solved using the Computational Fluid Dynamics (CFD) solver Ansys Fluent. Various parameters flow such as lift, drag, pressure, skin friction coefficients, Nusselt number, Strouhal number, and vortex strength are calculated. The transition from steady to time-periodic flow occurs between Re=60 and 80. The effect of the Reynolds number on heat transfer is discussed. Finally, a developed correlation of Nusselt and Strouhal numbers is presented.

Keywords: forced convection, semi-circular cylinder, Nusselt number, Prandtl number

Procedia PDF Downloads 88
9552 Computational Simulations and Assessment of the Application of Non-Circular TAVI Devices

Authors: Jonathon Bailey, Neil Bressloff, Nick Curzen

Abstract:

Transcatheter Aortic Valve Implantation (TAVI) devices are stent-like frames with prosthetic leaflets on the inside, which are percutaneously implanted. The device in a crimped state is fed through the arteries to the aortic root, where the device frame is opened through either self-expansion or balloon expansion, which reveals the prosthetic valve within. The frequency at which TAVI is being used to treat aortic stenosis is rapidly increasing. In time, TAVI is likely to become the favoured treatment over Surgical Valve Replacement (SVR). Mortality after TAVI has been associated with severe Paravalvular Aortic Regurgitation (PAR). PAR occurs when the frame of the TAVI device does not make an effective seal against the internal surface of the aortic root, allowing blood to flow backwards about the valve. PAR is common in patients and has been reported to some degree in as much as 76% of cases. Severe PAR (grade 3 or 4) has been reported in approximately 17% of TAVI patients resulting in post-procedural mortality increases from 6.7% to 16.5%. TAVI devices, like SVR devices, are circular in cross-section as the aortic root is often considered to be approximately circular in shape. In reality, however, the aortic root is often non-circular. The ascending aorta, aortic sino tubular junction, aortic annulus and left ventricular outflow tract have an average ellipticity ratio of 1.07, 1.09, 1.29, and 1.49 respectively. An elliptical aortic root does not severely affect SVR, as the leaflets are completely removed during the surgical procedure. However, an elliptical aortic root can inhibit the ability of the circular Balloon-Expandable (BE) TAVI devices to conform to the interior of the aortic root wall, which increases the risk of PAR. Self-Expanding (SE) TAVI devices are considered better at conforming to elliptical aortic roots, however the valve leaflets were not designed for elliptical function, furthermore the incidence of PAR is greater in SE devices than BE devices (19.8% vs. 12.2% respectively). If a patient’s aortic root is too severely elliptical, they will not be suitable for TAVI, narrowing the treatment options to SVR. It therefore follows that in order to increase the population who can undergo TAVI, and reduce the risk associated with TAVI, non-circular devices should be developed. Computational simulations were employed to further advance our understanding of non-circular TAVI devices. Radial stiffness of the TAVI devices in multiple directions, frame bending stiffness and resistance to balloon induced expansion are all computationally simulated. Finally, a simulation has been developed that demonstrates the expansion of TAVI devices into a non-circular patient specific aortic root model in order to assess the alterations in deployment dynamics, PAR and the stresses induced in the aortic root.

Keywords: tavi, tavr, fea, par, fem

Procedia PDF Downloads 423
9551 Effects of Viscous Dissipation on Free Convection Boundary Layer Flow towards a Horizontal Circular Cylinder

Authors: Muhammad Khairul Anuar Mohamed, Mohd Zuki Salleh, Anuar Ishak, Nor Aida Zuraimi Md Noar

Abstract:

In this study, the numerical investigation of viscous dissipation on convective boundary layer flow towards a horizontal circular cylinder with constant wall temperature is considered. The transformed partial differential equations are solved numerically by using an implicit finite-difference scheme known as the Keller-box method. Numerical solutions are obtained for the reduced Nusselt number and the skin friction coefficient as well as the velocity and temperature profiles. The features of the flow and heat transfer characteristics for various values of the Prandtl number and Eckert number are analyzed and discussed. The results in this paper is original and important for the researchers working in the area of boundary layer flow and this can be used as reference and also as complement comparison purpose in future.

Keywords: free convection, horizontal circular cylinder, viscous dissipation, convective boundary layer flow

Procedia PDF Downloads 421
9550 Circular Tool and Dynamic Approach to Grow the Entrepreneurship of Macroeconomic Metabolism

Authors: Maria Areias, Diogo Simões, Ana Figueiredo, Anishur Rahman, Filipa Figueiredo, João Nunes

Abstract:

It is expected that close to 7 billion people will live in urban areas by 2050. In order to improve the sustainability of the territories and its transition towards circular economy, it’s necessary to understand its metabolism and promote and guide the entrepreneurship answer. The study of a macroeconomic metabolism involves the quantification of the inputs, outputs and storage of energy, water, materials and wastes for an urban region. This quantification and analysis representing one opportunity for the promotion of green entrepreneurship. There are several methods to assess the environmental impacts of an urban territory, such as human and environmental risk assessment (HERA), life cycle assessment (LCA), ecological footprint assessment (EF), material flow analysis (MFA), physical input-output table (PIOT), ecological network analysis (ENA), multicriteria decision analysis (MCDA) among others. However, no consensus exists about which of those assessment methods are best to analyze the sustainability of these complex systems. Taking into account the weaknesses and needs identified, the CiiM - Circular Innovation Inter-Municipality project aims to define an uniform and globally accepted methodology through the integration of various methodologies and dynamic approaches to increase the efficiency of macroeconomic metabolisms and promoting entrepreneurship in a circular economy. The pilot territory considered in CiiM project has a total area of 969,428 ha, comprising a total of 897,256 inhabitants (about 41% of the population of the Center Region). The main economic activities in the pilot territory, which contribute to a gross domestic product of 14.4 billion euros, are: social support activities for the elderly; construction of buildings; road transport of goods, retailing in supermarkets and hypermarkets; mass production of other garments; inpatient health facilities; and the manufacture of other components and accessories for motor vehicles. The region's business network is mostly constituted of micro and small companies (similar to the Central Region of Portugal), with a total of 53,708 companies identified in the CIM Region of Coimbra (39 large companies), 28,146 in the CIM Viseu Dão Lafões (22 large companies) and 24,953 in CIM Beiras and Serra da Estrela (13 large companies). For the construction of the database was taking into account data available at the National Institute of Statistics (INE), General Directorate of Energy and Geology (DGEG), Eurostat, Pordata, Strategy and Planning Office (GEP), Portuguese Environment Agency (APA), Commission for Coordination and Regional Development (CCDR) and Inter-municipal Community (CIM), as well as dedicated databases. In addition to the collection of statistical data, it was necessary to identify and characterize the different stakeholder groups in the pilot territory that are relevant to the different metabolism components under analysis. The CIIM project also adds the potential of a Geographic Information System (GIS) so that it is be possible to obtain geospatial results of the territorial metabolisms (rural and urban) of the pilot region. This platform will be a powerful visualization tool of flows of products/services that occur within the region and will support the stakeholders, improving their circular performance and identifying new business ideas and symbiotic partnerships.

Keywords: circular economy tools, life cycle assessment macroeconomic metabolism, multicriteria decision analysis, decision support tools, circular entrepreneurship, industrial and regional symbiosis

Procedia PDF Downloads 70
9549 Implications about the Impact of COVID-19 on Business

Authors: Anwar Kashgari

Abstract:

COVID-19 has severe impacts on business all over the world. The great lockdown of many business owners requires a sage deal with this pandemic. This paper seeks to support business leaders with a standpoint about the COVID-19 situation and provides implications for the (Small and Medium Enterprises) SMEs and companies. The paper reflects the author's view about the impact of COVID-19 on business activities. We discussed the impact of COVID-19 upon three aspects, namely, startups, SMEs, and e-commerce. The KSA is an example of the developing countries about which we present the current situation. Finally, recommendations to policy and decision-makers are given.

Keywords: COVID 19, business networking, globalization

Procedia PDF Downloads 170
9548 Evaluating the Cost of Quality: A Case Study of a South African Foundry Business

Authors: Chipo Mugova, Zuko Mjobo

Abstract:

The aim of this study was to evaluate the cost of quality (COQ) at a local foundry business to identify the contribution of its units and processes to quality costs within the foundry’s operations. The foundry selected for detailed case study is one of major businesses that have been targeted by the government to produce components for building and re-furbishing wagons and trains. The study aimed at identifying areas in the foundry’s processes in which investment needs to be made to reduce quality costs. This is in alignment with government’s vision of promoting local business to support local markets leading to creation of jobs, and hence reduction of unemployment rate in South Africa. The methodology adopted used cost of quality models. Results from the study indicated that internal failure costs were significantly higher than all other cost of quality categories, taking more than 60% of the business’s income.

Keywords: appraisal costs, cost of quality, failure costs, local content, prevention costs

Procedia PDF Downloads 319
9547 Design of a Tool for Generating Test Cases from BPMN

Authors: Prat Yotyawilai, Taratip Suwannasart

Abstract:

Business Process Model and Notation (BPMN) is more important in the business process and creating functional models, and is a standard for OMG, which becomes popular in various organizations and in education. Researches related to software testing based on models are prominent. Although most researches use the UML model in software testing, not many researches use the BPMN Model in creating test cases. Therefore, this research proposes a design of a tool for generating test cases from the BPMN. The model is analyzed and the details of the various components are extracted before creating a flow graph. Both details of components and the flow graph are used in generating test cases.

Keywords: software testing, test case, BPMN, flow graph

Procedia PDF Downloads 529
9546 Impact of Enhanced Business Models on Technology Companies in the Pandemic: A Case Study about the Revolutionary Change in Management Styles

Authors: Murat Colak, Berkay Cakir Saridogan

Abstract:

Since the dawn of modern corporations, almost every single employee has been working in the same loop, which contains three basic steps: going to work, providing the needs for the work, and getting back home. Only a small amount of people were able to break that standard and live outside the box. As the 2019 pandemic hit the Earth and most companies shut down their physical offices, that loop had to change for everyone. This means that the old management styles had to be significantly re-arranged to the "work from home" type of business methods. The methods include online conferences and meetings, time and task tracking using algorithms, globalization of the work, and, most importantly, remote working. After the global epidemic started, even the tech giants were concerned. Now, it can be seen those technology companies have an incredible step-up in their shares compared to the other companies because they know how to manage such situations even better than every other industry. This study aims to take the old traditional management styles in big companies and compare them with the post-covid methods (2019-2022). As a result of this comparison made using the annual reports and shared statistics, this study aims to explain why the winners of this crisis are the technology companies.

Keywords: Covid-19, technology companies, business models, remote work

Procedia PDF Downloads 44
9545 The Effect of Recycling on Price Volatility of Critical Metals in the EU (2010-2019): An Application of Multivariate GARCH Family Models

Authors: Marc Evenst Jn Jacques, Sophie Bernard

Abstract:

Electrical and electronic applications, as well as rechargeable batteries, are common in any economy. They also contain a number of important and valuable metals. It is critical to investigate the impact of these new materials or volume sources on the metal market dynamics. This paper investigates the impact of responsible recycling within the European region on metal price volatility. As far as we know, no empirical studies have been conducted to assess the role of metal recycling in metal market price volatility. The goal of this paper is to test the claim that metal recycling helps to cushion price volatility. A set of circular economy indicators/variables, namely, 1) annual total trade values of recycled metals, 2) annual volume of scrap traded and 3) circular material use rate, and 4) information about recycling, are used to estimate the volatility of monthly spot prices of regular metals. A combination of the GARCH-MIDAS model for mixed frequency data sampling and a simple GARCH (1,1) model for the same frequency variables was adopted to examine the potential links between each variable and price volatility. We discovered that from 2010 to 2019, except for Nickel, scrap consumption (Millions of tons), Scrap Trade Values, and Recycled Material use rate had no significant impact on the price volatility of standard metals (Aluminum, Lead) and precious metals (Gold and Platinum). Worldwide interest in recycling has no impact on returns or volatility. Specific interest in metal recycling did have a link to the mean return equation for Aluminum, Gold and to the volatility equation for lead and Nickel.

Keywords: recycling, circular economy, price volatility, GARCH, mixed data sampling

Procedia PDF Downloads 31
9544 Mastering Digital Transformation with the Strategy Tandem Innovation Inside-Out/Outside-In: An Approach to Drive New Business Models, Services and Products in the Digital Age

Authors: S. N. Susenburger, D. Boecker

Abstract:

In the age of Volatility, Uncertainty, Complexity, and Ambiguity (VUCA), where digital transformation is challenging long standing traditional hardware and manufacturing companies, innovation needs a different methodology, strategy, mindset, and culture. What used to be a mindset of scaling per quantity is now shifting to orchestrating ecosystems, platform business models and service bundles. While large corporations are trying to mimic the nimbleness and versatile mindset of startups in the core of their digital strategies, they’re at the frontier of facing one of the largest organizational and cultural changes in history. This paper elaborates on how a manufacturing giant transformed its Corporate Information Technology (IT) to enable digital and Internet of Things (IoT) business while establishing the mindset and the approaches of the Innovation Inside-Out/Outside-In Strategy. It gives insights into the core elements of an innovation culture and the tactics and methodologies leveraged to support the cultural shift and transformation into an IoT company. This paper also outlines the core elements for an innovation culture and how the persona 'Connected Engineer' thrives in the digital innovation environment. Further, it explores how tapping domain-focused ecosystems in vibrant innovative cities can be used as a part of the strategy to facilitate partner co-innovation. Therefore, findings from several use cases, observations and surveys led to conclusion for the strategy tandem of Innovation Inside-Out/Outside-In. The findings indicate that it's crucial in which phases and maturity level the Innovation Inside-Out/Outside-In Strategy is activated: cultural aspects of the business and the regional ecosystem need to be considered, as well as cultural readiness from management and active contributors. The 'not invented here syndrome' is a barrier of large corporations that need to be addressed and managed to successfully drive partnerships, as well as embracing co-innovation and a mindset shifting away from physical products toward new business models, services, and IoT platforms. This paper elaborates on various methodologies and approaches tested in different countries and cultures, including the U.S., Brazil, Mexico, and Germany.

Keywords: innovation management, innovation culture, innovation methodologies, digital transformation

Procedia PDF Downloads 111
9543 From Waste to Wealth: A Future Paradigm for Plastic Management Using Blockchain Technology

Authors: Jim Shi, Jasmine Chang, Nesreen El-Rayes

Abstract:

The world has been experiencing a steadily increasing trend in both the production and consumption of plastic. The global consumer revolution should not have been possible without plastic, thanks to its salient feature of inexpensiveness and durability. But, as a two-edged sword, its durable quality has returned to haunt and even jeopardized us. That exacerbating the plastic crisis has attracted various global initiatives and actions. Simultaneously, firms are eager to adopt new technology as they witness and perceive more potential and merit of Industry 4.0 technologies. For example, Blockchain technology (BCT) is drawing the attention of numerous stakeholders because of its wide range of outstanding features that promise to enhance supply chain operations. However, from a research perspective, most of the literature addresses the plastic crisis from either environmental or social perspectives. In contrast, analysis from the data science perspective and technology is relatively scarce. To this end, this study aims to fill this gap and cover the plastic crisis from a holistic view of environmental, social, technological, and business perspectives. In particular, we propose a mathematical model to examine the inclusion of BCT to enhance and improve the efficiency on the upstream and the downstream sides of the plastic value, where the whole value chain is coordinated systematically, and its interoperability can be optimized. Consequently, the Environmental, Social, and Governance (ESG) goal and Circular Economics (CE) sustainability can be maximized.

Keywords: blockchain technology, plastic, circular economy, sustainability

Procedia PDF Downloads 59
9542 Family Business Succession through the Eye of the Upper Echelon Theory: A Phenomenological Approach

Authors: Ruswiati Suryasaputra, Linda Salim

Abstract:

This concept paper, initially a proposal for the completion of the degree of Doctor of Philosophy, is seeking to gain more understanding of family business succession in order to extend the average lifespan of family business that has shrunken significantly for the past 20 years. While multitude studies have been done in family business succession, the average lifespan of a family business continues to decline sharply over the past two decades to only 24 years, or 1.5 generations, in 2010, from 50-60 years, equivalent to 3 generations, as recently as 1990. While the qualitative approach of this study will not churn a theoretical framework unique to the family business field, it will bring to the surface important issues during a family business succession process that have been hidden behind the mostly profit-making issues that have been the main highlight of the family business field.

Keywords: family business, succession, nepotism, family studies

Procedia PDF Downloads 519
9541 Single Feed Circularly Polarized Poly Fractal Antenna for Wireless Applications

Authors: V. V. Reddy, N. V. Sarma

Abstract:

A circularly polarized fractal boundary microstrip antenna is presented. The sides of a square patch along x-axis, y-axis are replaced with Minkowski and Koch curves correspondingly. By using the fractal curves as edges, asymmetry in the structure is created to excite two orthogonal modes for circular polarization (CP) operation. The indentation factors of the fractal curves are optimized for pure CP. The simulated results of the novel poly fractal antenna are demonstrated.

Keywords: fractal, circular polarization, Minkowski, Koch

Procedia PDF Downloads 337
9540 The Circularity of Re-Refined Used Motor Oils: Measuring Impacts and Ensuring Responsible Procurement

Authors: Farah Kanani

Abstract:

Blue Tide Environmental is a company focused on developing a network of used motor oil recycling facilities across the U.S. They initiated the redesign of its recycling plant in Texas, and aimed to establish an updated carbon footprint of re-refined used motor oils compared to an equivalent product derived from virgin stock that is not re-refined. The aim was to quantify emissions savings of a circular alternative to conventional end-of-life combustion of used motor oil (UMO). To do so, they mandated an ISO-compliant carbon footprint, utilizing complex models requiring geographical and temporal accuracy to accommodate the U.S. refinery market. The quantification of linear and circular flows, proxies for fuel substitution and system expansion for multi-product outputs were all critical methodological choices and were tested through sensitivity analyses. The re-refined system consisted of continuous recycling of UMO and thus, end-of-life is considered non-existent. The unique perspective to this topic will be from a life cycle i.e. holistic one and essentially demonstrate using this example of how a cradle-to-cradle model can be used to quantify a comparative carbon footprint. The intended audience is lubricant manufacturers as the consumers, motor oil industry professionals and other industry members interested in performing a cradle-to-cradle modeling.

Keywords: circularity, used motor oil, re-refining, systems expansion

Procedia PDF Downloads 13
9539 Circular Economy-Relationship of Natural Water Collection System, Afforestation and Country Park Towards Environmental Sustainability

Authors: Kwok Tak Kit

Abstract:

The government and community have raised their awareness of the benefits of water reuse. Deforestation has a significant effect to climate change as it causes the drying out of the tropical rainforest and hence increases the chance of natural hazards. The loss of forests due to natural fire or human factors would be threatening the storage and supply of clean water. In this paper, we will focus on the discussion of the relationship of the natural water collection system, afforestation and country parks towards environmental sustainability and circular economy with a case study of water conservation policy and strategy in Hong Kong and Singapore for further research. The UN General Assembly launched the Water Action Decade in 2018 to mobilize action that will help to tackle the growing challenge of water scarcity through water conservation and protect and restore water-related ecosystems, including forests, wetlands, rivers, aquifers and lakes.

Keywords: afforestation, environmental sustainability, water conservation, circular economy, climate change, sustainable development goal

Procedia PDF Downloads 108
9538 Interconnections of Circular Economy, Circularity, and Sustainability: A Systematic Review and Conceptual Framework

Authors: Anteneh Dagnachew Sewenet, Paola Pisano

Abstract:

The concept of circular economy, circularity, and sustainability are interconnected and promote a more sustainable future. However, previous studies have mainly focused on each concept individually, neglecting the relationships and gaps in the existing literature. This study aims to integrate and link these concepts to expand the theoretical and practical methods of scholars and professionals in pursuit of sustainability. The aim of this systematic literature review is to comprehensively analyze and summarize the interconnections between circular economy, circularity, and sustainability. Additionally, it seeks to develop a conceptual framework that can guide practitioners and serve as a basis for future research. The review employed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol. A total of 78 articles were analyzed, utilizing the Scopus and Web of Science databases. The analysis involved summarizing and systematizing the conceptualizations of circularity and its relationship with the circular economy and long-term sustainability. The review provided a comprehensive overview of the interconnections between circular economy, circularity, and sustainability. Key themes, theoretical frameworks, empirical findings, and conceptual gaps in the literature were identified. Through a rigorous analysis of scholarly articles, the study highlighted the importance of integrating these concepts for a more sustainable future. This study contributes to the existing literature by integrating and linking the concepts of circular economy, circularity, and sustainability. It expands the theoretical understanding of how these concepts relate to each other and provides a conceptual framework that can guide future research in this field. The findings emphasize the need for a holistic approach in achieving sustainability goals. The data collection for this review involved identifying relevant articles from the Scopus and Web of Science databases. The selection of articles was made based on predefined inclusion and exclusion criteria. The PRISMA protocol guided the systematic analysis of the selected articles, including summarizing and systematizing their content. This study addressed the question of how circularity is conceptualized and related to both the circular economy and long-term sustainability. It aimed to identify the interconnections between these concepts and bridge the gap in the existing literature. The review provided a comprehensive analysis of the interconnections between the circular economy, circularity, and sustainability. It presented a conceptual framework that can guide practitioners in implementing circular economy strategies and serve as a basis for future research. By integrating these concepts, scholars, and professionals can enhance the theoretical and practical methods in pursuit of a more sustainable future. The findings emphasize the importance of taking a holistic approach to achieve sustainability goals and highlight conceptual gaps that can be addressed in future studies.

Keywords: circularity, circular economy, sustainability, innovation

Procedia PDF Downloads 63
9537 A Review on Water Models of Surface Water Environment

Authors: Shahbaz G. Hassan

Abstract:

Water quality models are very important to predict the changes in surface water quality for environmental management. The aim of this paper is to give an overview of the water qualities, and to provide directions for selecting models in specific situation. Water quality models include one kind of model based on a mechanistic approach, while other models simulate water quality without considering a mechanism. Mechanistic models can be widely applied and have capabilities for long-time simulation, with highly complexity. Therefore, more spaces are provided to explain the principle and application experience of mechanistic models. Mechanism models have certain assumptions on rivers, lakes and estuaries, which limits the application range of the model, this paper introduces the principles and applications of water quality model based on the above three scenarios. On the other hand, mechanistic models are more easily to compute, and with no limit to the geographical conditions, but they cannot be used with confidence to simulate long term changes. This paper divides the empirical models into two broad categories according to the difference of mathematical algorithm, models based on artificial intelligence and models based on statistical methods.

Keywords: empirical models, mathematical, statistical, water quality

Procedia PDF Downloads 238
9536 A Study of Relational Factors Associated with Online Celebrity Business and Consumer Purchase Intention

Authors: Sixing Chen, Shuai Yang

Abstract:

Online celebrity business, also known as Internet celebrity business (or Wanghong business in Chinese), is an emerging relational C2C business model, and an alternative to traditional C2C transactional business models. There are already millions of these consumers, and this number is growing. In this model, consumer purchase decisions are driven by recommendations and endorsements in videos posted online by celebrities. The purpose of this paper is to determine the relational constructs within consumer relationships in the Internet celebrity business model and to investigate relationships between the constructs and consumer purchase intention. A questionnaire-based study was conducted with consumers who had an awareness of, or prior purchase experience with online celebrities. The results of exploratory factor analysis (EFA) and multiple regression analysis revealed three valid relational constructs: product experience sharing, lifestyle association, and real-time interaction. This study indicated that these constructs had the direct effect on consumer preference and purchase intention. The findings of this study provide insight into a business model in which online shopping is driven by celebrities. They suggest that online celebrities should pay more attention to product experience sharing, life style association and real-time interaction for managing their product promotions. These are the most salient factors with respect to the relational constructs identified in this study.

Keywords: customer relationship, customer to customer, Internet celebrity, online celebrity, online marketing, purchase intention

Procedia PDF Downloads 300
9535 Management and Marketing Implications of Tourism Gravity Models

Authors: Clive L. Morley

Abstract:

Gravity models and panel data modelling of tourism flows are receiving renewed attention, after decades of general neglect. Such models have quite different underpinnings from conventional demand models derived from micro-economic theory. They operate at a different level of data and with different theoretical bases. These differences have important consequences for the interpretation of the results and their policy and managerial implications. This review compares and contrasts the two model forms, clarifying the distinguishing features and the estimation requirements of each. In general, gravity models are not recommended for use to address specific management and marketing purposes.

Keywords: gravity models, micro-economics, demand models, marketing

Procedia PDF Downloads 416
9534 LACGC: Business Sustainability Research Model for Generations Consumption, Creation, and Implementation of Knowledge: Academic and Non-Academic

Authors: Satpreet Singh

Abstract:

This paper introduces the new LACGC model to sustain the academic and non-academic business to future educational and organizational generations. The consumption of knowledge and the creation of new knowledge is a strength and focal interest of all academics and Non-academic organizations. Implementing newly created knowledge sustains the businesses to the next generation with growth without detriment. Existing models like the Scholar-practitioner model and Organization knowledge creation models focus specifically on academic or non-academic, not both. LACGC model can be used for both Academic and Non-academic at the domestic or international level. Researchers and scholars play a substantial role in finding literature and practice gaps in academic and non-academic disciplines. LACGC model has unrestricted the number of recurrences because the Consumption, Creation, and implementation of new ideas, disciplines, systems, and knowledge is a never-ending process and must continue from one generation to the next.

Keywords: academics, consumption, creation, generations, non-academics, research, sustainability

Procedia PDF Downloads 164
9533 Leveraging Laser Cladding Technology for Eco-Friendly Solutions and Sustainability in Equipment Refurbishment

Authors: Rakan A. Ahmed, Raja S. Khan, Mohammed M. Qahtani

Abstract:

This paper explores the transformative impact of laser cladding technology on the circular economy, emphasizing its role in reducing environmental impact compared to traditional welding methods. Laser cladding, an innovative manufacturing process, optimizes resource efficiency and sustainability by significantly decreasing power consumption and minimizing material waste. The study explores how laser cladding operates within the framework of the circular economy, promoting energy efficiency, waste reduction, and emissions control. Through a comparative analysis of energy and material consumption between laser cladding and conventional welding methods, the paper highlights the significant strides in environmental conservation and resource optimization made possible by laser cladding. The findings highlight the potential for this technology to revolutionize industrial practices and propel a more sustainable and eco-friendly manufacturing landscape.

Keywords: laser cladding, circular economy, carbon emission, energy

Procedia PDF Downloads 56
9532 Characteristics of Pakistani Business Leaders: A Psychological Perspective

Authors: Hafiz Haseeb Nisar, Maryam Bilal

Abstract:

This qualitative study was conducted to investigate the underlying dynamics, key success factors and characteristics of Pakistani business leaders. The sample included 5 top businessmen from different business sectors. They were approached through the magazine “Manager Today” office in Lahore. Semi-structured interview technique was used to understand their experiences, attitudes, styles of management and key factors in their business success. Grounded theory was employed to analyze data. The following themes emerged as characteristics of business leaders: optimism, assertiveness, professionalism, effective management style, business knowledge/ excellence, supportive family and strong faith in God. It was noted that all these were interlinked, which leads the businessmen to become a successful business tycoon of this country. The importance of this study rests in its eastern contribution to the theoretical framework of the psychology of business leaders and particularly these findings will help to realize the basic key factors of success behind a business leader in Pakistan.

Keywords: business psychology, characteristics, key personality factors, leadership

Procedia PDF Downloads 115
9531 Analysis of Critical Success Factors for Implementing Industry 4.0 and Circular Economy to Enhance Food Traceability

Authors: Mahsa Pishdar

Abstract:

Food traceability through the supply chain is facing increased demand. IoT and blockchain are among the tools under consideration in the Industry 4.0 era that could be integrated to help implementation of the Circular Economy (CE) principles while enhancing food traceability solutions. However, such tools need intellectual system, and infrastructureto be settled as guidance through the way, helping overcoming obstacles. That is why the critical success factors for implementing Industry 4.0 and circular economy principles in food traceability concept are analyzed in this paper by combination of interval type 2 fuzzy Worst Best Method and Measurement Alternatives and Ranking according to Compromise Solution (Interval Type 2 fuzzy WBM-MARCOS). Results indicate that “Knowledge of Industry 4.0 obligations and CE principle” is the most important factor that is the basis of success following by “Management commitment and support”. This will assist decision makers to seize success in gaining a competitive advantage while reducing costs through the supply chain.

Keywords: food traceability, industry 4.0, internet of things, block chain, best worst method, marcos

Procedia PDF Downloads 170
9530 Data-driven Decision-Making in Digital Entrepreneurship

Authors: Abeba Nigussie Turi, Xiangming Samuel Li

Abstract:

Data-driven business models are more typical for established businesses than early-stage startups that strive to penetrate a market. This paper provided an extensive discussion on the principles of data analytics for early-stage digital entrepreneurial businesses. Here, we developed data-driven decision-making (DDDM) framework that applies to startups prone to multifaceted barriers in the form of poor data access, technical and financial constraints, to state some. The startup DDDM framework proposed in this paper is novel in its form encompassing startup data analytics enablers and metrics aligning with startups' business models ranging from customer-centric product development to servitization which is the future of modern digital entrepreneurship.

Keywords: startup data analytics, data-driven decision-making, data acquisition, data generation, digital entrepreneurship

Procedia PDF Downloads 292
9529 Analysis of the Secondary Stationary Flow Around an Oscillating Circular Cylinder

Authors: Artem Nuriev, Olga Zaitseva

Abstract:

This paper is devoted to the study of a viscous incompressible flow around a circular cylinder performing harmonic oscillations, especially the steady streaming phenomenon. The research methodology is based on the asymptotic explanation method combined with the computational bifurcation analysis. Present studies allow to identify several regimes of the secondary streaming with different flow structures. The results of the research are in good agreement with experimental and numerical simulation data.

Keywords: oscillating cylinder, secondary streaming, flow regimes, asymptotic and bifurcation analysis

Procedia PDF Downloads 411
9528 Numerical Simulation of Convective Flow of Nanofluids with an Oriented Magnetic Field in a Half Circular-Annulus

Authors: M. J. Uddin, M. M. Rahman

Abstract:

The unsteady convective heat transfer flow of nanofluids in a half circular-annulus shape enclosure using nonhomogeneous dynamic model has been investigated numerically. The round upper wall of the enclosure is maintained at constant low temperature whereas the bottom wall is heated by three different thermal conditions. The enclosure is permeated by a uniform magnetic field having variable orientation. The Brownian motion and thermophoretic phenomena of the nanoparticles are taken into account in model construction. The governing nonlinear momentum, energy, and concentration equations are solved numerically using Galerkin weighted residual finite element method. To discover the best performer, the average Nusselt number is demonstrated for different types of nanofluids. The heat transfer rate for different flow parameters, positions of the annulus, thicknesses of the half circular-annulus and thermal conditions is also exhibited.

Keywords: nanofluid, convection, semicircular-annulus, nonhomogeneous dynamic model, finite element method

Procedia PDF Downloads 198
9527 Domain Driven Design vs Soft Domain Driven Design Frameworks

Authors: Mohammed Salahat, Steve Wade

Abstract:

This paper presents and compares the SSDDD “Systematic Soft Domain Driven Design Framework” to DDD “Domain Driven Design Framework” as a soft system approach of information systems development. The framework use SSM as a guiding methodology within which we have embedded a sequence of design tasks based on the UML leading to the implementation of a software system using the Naked Objects framework. This framework has been used in action research projects that have involved the investigation and modelling of business processes using object-oriented domain models and the implementation of software systems based on those domain models. Within this framework, Soft Systems Methodology (SSM) is used as a guiding methodology to explore the problem situation and to develop the domain model using UML for the given business domain. The framework is proposed and evaluated in our previous works, a comparison between SSDDD and DDD is presented in this paper, to show how SSDDD improved DDD as an approach to modelling and implementing business domain perspectives for Information Systems Development. The comparison process, the results, and the improvements are presented in the following sections of this paper.

Keywords: domain-driven design, soft domain-driven design, naked objects, soft language

Procedia PDF Downloads 271
9526 Inclusive Business Development: A Case Study of Developing Community-Operated Business Venture

Authors: Paula Linna

Abstract:

During the recent years interest in inclusive business has increased. Still, research on inclusive business development is at infancy. This study provides empirical evidence on inclusive business development of mini-grid solution for the rural African communities. This study tests how well the insights of creation theory can explain inclusive business development process which often occurs under uncertainty due to demands for developing new technology, new business model and establishing business in new market. These several uncertain elements of business development impact what kind of business strategies the entrepreneur can practice and what kind of decision making tools to use. In addition, community engagement is essential for the successful operative management of a mini-grid solution. This study advances the understanding of inclusive business development and can be used as the foundation for future work to facilitate the process of new business venture creation at the BOP particularly when developing community-operated entrepreneurship model.

Keywords: creation theory, base of the pyramid (BOP), community-operated entrepreneurship, rural African communities

Procedia PDF Downloads 481
9525 Electric Models for Crosstalk Predection: Analysis and Performance Evaluation

Authors: Kachout Mnaouer, Bel Hadj Tahar Jamel, Choubani Fethi

Abstract:

In this paper, three electric equivalent models to evaluate crosstalk between three-conductor transmission lines are proposed. First, electric equivalent models for three-conductor transmission lines are presented. Secondly, rigorous equations to calculate the per-unit length inductive and capacitive parameters are developed. These models allow us to calculate crosstalk between conductors. Finally, to validate the presented models, we compare the theoretical results with simulation data. Obtained results show that proposed models can be used to predict crosstalk performance.

Keywords: near-end crosstalk, inductive parameter, L, Π, T models

Procedia PDF Downloads 427
9524 Exploration of Critical Success Factors in Business and Management in Artificial Intelligence Era

Authors: Najah Kalifah Almazmomi

Abstract:

In the time of artificial intelligence (AI), there is a need to know the determinants of success in business management, which are taking on a new dimension. This research purports to scrutinize the Critical Success Factors (CSFs) that drive and ignite the fire of success to help uncover the subtle and profound dynamics that might be operative in organizations. By means of a systematic literature review and a number of empirical methods, the paper is aimed at determining and assessing the key aspects of CSFs, putting emphasis on their role and meaning in the context of AI technology adoption. Some central features such as leadership ways, innovation models, strategic thinking methodologies, organizational culture transformations, and human resource management approaches are compared and contrasted with the AI-driven revolution. Additionally, this research will explore the interactive effects of these factors and their joint impact on the success, survival, and flexibility of a business in the current environment, which is changing due to AI development. Through the use of different qualitative and quantitative methodologies, the research concludes that the findings are significant in understanding the relative roles of individual CSFs and in studying the interactions between them in such an AI-enabled business environment.

Keywords: critical success factors, business and management, artificial intelligence, leadership strategies

Procedia PDF Downloads 16