Search results for: Libyan manufacturing companies

Authors: Nousheen Tariq Bhutta, Syed Zulfiqar Ali Shah

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Financial crises become a key impediment towards the development of countries especially in emerging economies. Based on standard finance, many researchers investigated the financial crises in different countries in order to find the underlying reason regarding occurrence these event; however they were unable to provide it. In this essence behavioral finance may be helpful in providing answers to some queries regarding occurrence and prevention of financial crises. In this paper, we explore the some psychological factors comprises of our inspiration, emotion, cognition and culture along with their reflection companies, financial markets and governments that present some supportive arguments. Moreover, we compared the views of Keynes and Minsky in order to validate the underling justification towards occurrence of financial crises and their prevention in future. This study helps the practitioners and policy makers through providing valuable recommendation in order to protect the economies.

Keywords: financial crises, behavioral finance, financial markets, emerging economies

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Authors: Sempiga Olivier, Dominika Latusek-Jurczak

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Climate change has allegedly been attributed to a high consumption of fossil fuels, leading to severe environmental problems. The energy sector has been among the most polluting sectors for many decades. Consequently, there is a lack of trust in several energy firms, especially those in fossil fuels and nuclear energy. A robust regulatory framework is needed, and more investment in renewable energy sources is paramount for a better environmental outcome. Given the significant environmental impact of energy production and consumption in the energy sector, sustainable marketing practices have become increasingly important. Although the latter has had the lion’s share in polluting the environment, much effort has been made recently to move away from fossil fuels and privilege renewable energy sources. How this shift would help rebuild trust in the energy industry is unclear. For the shift to have lasting effects, it may be essential that regulatory agencies examine how energy firms engage in sustainable investment. There is little empirical evidence on whether adopting regulating marketing practices and investment initiatives can help different organizations reduce their environmental impact and promote sustainable development. Little is known about how and whether the environmental value in firms goes beyond rhetoric, greenwashing and publicity to translate into economic gains and environmental performance. The study investigates how regulatory agencies can help energy firms invest sustainably and take sustainable initiatives even amid the energy crisis caused by the Russia-Ukraine conflict and how these sustainable practices relate to renewed consumer trust. Using data from Corporate Knights, the study, through time series, analyses the relationship between sustainable regulation, sustainable practices of energy firms from around the world and their relation to consumer trust and environmental performance over the past 20 years. It examines how their sustainable investment, energy, and carbon productivity relate to environmental sustainability and consumer trust. This longitudinal study provides empirical evidence of the interplay between regulation, trust and environmental performance. The research is grounded in institutional trust theory, which emphasizes the role of regulatory frameworks and organizational practices in shaping public perceptions of fairness, transparency, and legitimacy. Results show that organizations in the energy sector, supported by robust regulatory tools, can overcome the negative image of polluters and compete with other companies in the fight against climate change and global warming. However, to do so, energy firms should consider investing more in renewable energy sources and implementing sustainable strategies and practices that go beyond greenwashing to improve their environmental performance, thereby rebuilding consumer trust in the energy sector. Results allow regulatory regimes and organizations to learn why it is crucial for energy firms to invest in renewable energy sources and engage in various sustainable initiatives and practices to contribute to better environmental outcomes and higher levels of trust.

Keywords: consumer trust, energy, environmental performance, regulation, renewable energy sources, sustainable practices

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Authors: I. Domingos, B. Esteves, A. Figueirinha, Luísa P. Cruz-Lopes, J. Ferreira, H. Pereira

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Chromium is one of the most common heavy metals which exist in very high concentrations in wastewater. The removal is very expensive due to the high cost of normal adsorbents. Lignocellulosic materials and mainly treated materials have proven to be a good solution for this problem. Adsorption tests were performed at different pH, different times and with varying concentrations. Results show that is at pH 3 that treated wood absorbs more chromium ranging from 70% (2h treatment) to almost 100% (12 h treatment) much more than untreated wood with less than 40%. Most of the adsorption is made in the first 2-3 hours for untreated and heat treated wood. Modified wood adsorbs more chromium throughout the time. For all the samples, adsorption fitted relatively well the Langmuir model with correlation coefficient ranging from 0.85 to 0.97. The results show that heat treated wood is a good adsorbent ant that this might be a good utilization for sawdust from treating companies.

Keywords: adsorption, chromium, heat treatment, wood modification

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Authors: Marcel Heimar Ribeiro Utiyama, Fernanda Caveiro Correia, Dario Henrique Alliprandini

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The importance of the correct allocation of improvement programs is of growing interest in recent years. Due to their limited resources, companies must ensure that their financial resources are directed to the correct workstations in order to be the most effective and survive facing the strong competition. However, to our best knowledge, the literature about allocation of improvement programs does not analyze in depth this problem when the flow shop process has two capacity constrained resources. This is a research gap which is deeply studied in this work. The purpose of this work is to identify the best strategy to allocate improvement programs in a flow shop with two capacity constrained resources. Data were collected from a flow shop process with seven workstations in an industrial control and automation company, which process 13.690 units on average per month. The data were used to conduct a simulation with the System Dynamics-Factory Physics model. The main variables considered, due to their importance on lead time reduction, were the mean time between failures and the mean time to repair. The lead time reduction was the output measure of the simulations. Ten different strategies were created: (i) focused time to repair improvement, (ii) focused time between failures improvement, (iii) distributed time to repair improvement, (iv) distributed time between failures improvement, (v) focused time to repair and time between failures improvement, (vi) distributed time to repair and between failures improvement, (vii) hybrid time to repair improvement, (viii) hybrid time between failures improvements, (ix) time to repair improvement strategy towards the two capacity constrained resources, (x) time between failures improvement strategy towards the two capacity constrained resources. The ten strategies tested are variations of the three main strategies for improvement programs named focused, distributed and hybrid. Several comparisons among the effect of the ten strategies in lead time reduction were performed. The results indicated that for the flow shop analyzed, the focused strategies delivered the best results. When it is not possible to perform a large investment on the capacity constrained resources, companies should use hybrid approaches. An important contribution to the academy is the hybrid approach, which proposes a new way to direct the efforts of improvements. In addition, the study in a flow shop with two strong capacity constrained resources (more than 95% of utilization) is an important contribution to the literature. Another important contribution is the problem of allocation with two CCRs and the possibility of having floating capacity constrained resources. The results provided the best improvement strategies considering the different strategies of allocation of improvement programs and different positions of the capacity constrained resources. Finally, it is possible to state that both strategies, hybrid time to repair improvement and hybrid time between failures improvement, delivered best results compared to the respective distributed strategies. The main limitations of this study are mainly regarding the flow shop analyzed. Future work can further investigate different flow shop configurations like a varying number of workstations, different number of products or even different positions of the two capacity constrained resources.

Keywords: allocation of improvement programs, capacity constrained resource, hybrid strategy, lead time, mean time to repair, mean time between failures

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Authors: Halimi Mohamed Taher, Kordoghli Bassem, Ben Hassen Mohamed, Sakli Faouzi

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Textile and clothing manufacturing industry is based largely on subcontracting system. Choosing the right subcontractor became a strategic decision that can affect the financial position of the company and even his market position. Subcontracting firms in Tunisia are lead to define an appropriate selection process which takes into account several quantitative and qualitative criteria. In this study, a methodology is proposed that includes a Fuzzy Analytic Hierarchy Process (AHP) in order to incorporate the ambiguities and uncertainties in qualitative decision. Best subcontractors for two Tunisian firms are determined based on model results.

Keywords: AHP, subcontractor, multicriteria, selection

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Authors: Juan Peña Aguilar, Lilia Villasana, Rodrigo Valencia, Alberto Pastrana, Martin Vivanco, Juan Peña C

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Each year a growing number of companies entering Mexico in search of the domestic market share. These activities, including stores, telephone long distance and local raw materials and energy, and particularly the financial sector, have managed to significantly increase its weight in the flows of FDI in Mexico , however, you should consider whether these trends FDI are positive for the Mexican economy and these activities increase Mexican exports in the medium term , and its share in GDP , gross fixed capital formation and employment. In general stresses that these activities, by far, have been unable to significantly generate linkages with the rest of the economy, a process that has not favored with competitiveness policies and activities aimed at these neutral or horizontal. Since the nineties foreign direct investment (FDI) has shown a remarkable dynamism, both internationally and in Latin America and in Mexico. Only in Mexico the first recipient of FDI in importance in Latin America during 1990-1995 and was displaced by Brazil since FDI increased from levels below 1 % of GDP during the eighties to around 3 % of GDP during the nineties. Its impact has been significant not only from a macroeconomic perspective , it has also allowed the generation of a new industrial production structure and organization, parallel to a significant modernization of a segment of the economy. The case of Mexico also is particularly interesting and relevant because the destination of FDI until 1993 had focused on the purchase of state assets during privatization process. This paper aims to present FDI flows in Mexico and analyze the different business strategies that have been touched and encouraged by the FDI. On the one hand, looking briefly discuss regulatory issues and source and recipient of FDI sectors. Furthermore, the paper presents in more detail the impacts and changes that generated the FDI contribution of FDI in the Mexican economy , besides the macroeconomic context and later legislative changes that resulted in the current regulations is examined around FDI in Mexico, including aspects of the Free Trade Agreement (NAFTA). It is worth noting that foreign investment can not only be considered from the perspective of the receiving economic units. Instead, these flows also reflect the strategic interests of transnational corporations (TNCs) and other companies seeking access to markets and increased competitiveness of their production networks and global distribution, among other reasons. Similarly it is important to note that foreign investment in its various forms is critically dependent on historical and temporal aspects. Thus, the same functionality can vary significantly depending on the specific characteristics of both receptor units as sources of FDI, including macroeconomic, institutional, industrial organization, and social aspects, among others.

Keywords: foreign direct investment (FDI), competitiveness, neoliberal regime, globalization, gross domestic product (GDP), NAFTA, macroeconomic

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Authors: Bhumika Gupta, Jeayaram Subramanian, Hardik Vachhrajani, Avinash Shivdas

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Indian food processing industry is one of the largest in the world in terms of production, consumption, exports and growth opportunities. SMEs play a crucial role within this. Large manufacturing firms largely dominate innovation studies in India. Innovation sources used by SMEs are often different from that of large firms. This paper focuses on exploring various sources of innovation adopted by food processing SMEs in Kerala, South India. Outcome suggests that SMEs use various sources like suppliers, competitors, employees, government/research institutions and customers to get new ideas.

Keywords: food processing, innovation, SMEs, sources of innovation

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Authors: Vidar Hepsø

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The energy and oil companies on the Norwegian Continental shelf come from a situation where each asset control and manage their energy supply (island mode) and move towards a situation where the assets need to collaborate and coordinate energy use with others due to increased cost and scarcity of electric energy sharing the energy that is provided. Currently, several areas are electrified either with an onshore grid cable or are receiving intermittent energy from offshore wind-parks. While the onshore grid in Norway is well regulated, the offshore grid is still in the making, with several oil and gas electrification projects and offshore wind development just started. The paper will describe the shift in the mindset that comes with operating this new offshore grid. This transition process heralds an increase in collaboration across boundaries and integration of energy management across companies, businesses, technical disciplines, and engagement with stakeholders in the larger society. This transition will be described as a function of the new challenges with increased complexity of the energy mix (wind, oil/gas, hydrogen and others) coupled with increased technical and organization complexity in energy management. Organizational complexity denotes an increasing integration across boundaries, whether these boundaries are company, vendors, professional disciplines, regulatory regimes/bodies, businesses, and across numerous societal stakeholders. New practices must be developed, made legitimate and institutionalized across these boundaries. Only parts of this complexity can be mitigated technically, e.g.: by use of batteries, mixing energy systems and simulation/ forecasting tools. Many challenges must be mitigated with legitimated societal and institutionalized governance practices on many levels. Offshore electrification supports Norway’s 2030 climate targets but is also controversial since it is exploiting the larger society’s energy resources. This means that new systems and practices must also be transparent, not only for the industry and the authorities, but must also be acceptable and just for the larger society. The paper report from ongoing work in Norway, participant observation and interviews in projects and people working with offshore grid development in Norway. One case presented is the development of an offshore floating windfarm connected to two offshore installations and the second case is an offshore grid development initiative providing six installations electric energy via an onshore cable. The development of the offshore grid is analyzed using a capability platform framework, that describes the technical, competence, work process and governance capabilities that are under development in Norway. A capability platform is a ‘stack’ with the following layers: intelligent infrastructure, information and collaboration, knowledge sharing & analytics and finally business operations. The need for better collaboration and energy forecasting tools/capabilities in this stack will be given a special attention in the two use cases that are presented.

Keywords: capability platform, electrification, carbon footprint, control rooms, energy forecsting, operational model

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Authors: Ravipa Rojasavachai, Li Yang

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Working from home has become a global phenomenon after the coronavirus outbreak, and most employees have a choice to choose between working from home or the office. In this paper, we examine the demographics and socio-economics factors influencing individuals’ decision to choose working from home rather than the office before and after the coronavirus outbreak based on Australian household data. We find that all factors impact the working from home choice before the coronavirus outbreak, but the number of children turns to an uninfluenced factor on individuals’ choices after the outbreak. We also find that female employees have a higher probability of choosing to work from home after the coronavirus outbreak. This is because they have less concern for their career opportunities and higher wage premium of working from home due to the changing in cultural norms and advanced working from home technologies in companies after the coronavirus outbreak.

Keywords: work from home, telework, remote working, COVID-19, pandemic, wage

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Authors: Ignatio Madanhire, Charles Mbohwa

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This study explores to improve the resource efficiency, waste water reduction and to reduce losses of raw materials in a beverage making industry. A number of cleaner production technologies were put across in this work. It was also noted that cleaner production technology practices are not only desirable from the environmental point of view, but they also make good economic sense, in their contribution to the bottom line by conserving resources like energy, raw materials and manpower, improving yield as well as reducing treatment/disposal costs. This work is a resource in promoting adoption and implementation of CP in other industries for sustainable development.

Keywords: resource efficiency, beverages, reduce losses, cleaner production, energy, yield

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Authors: Dana A. Al Qudah, Alexandra I. Critea, Rizik M. H. Al Sayyed, Amer Obeidah

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Online advertisement is one of the major incomes for many companies; it has a role in the overall business flow and affects the consumer behavior directly. Unfortunately most users tend to block their ads or ignore them. MyAds is a social adaptive hypermedia system for online advertising and its main goal is to explore how to make online ads more acceptable. In order to achieve such a goal, various technologies and techniques are used. This paper presents a theoretical framework as well as the system architecture for MyAds that was designed based on a set of hypotheses and an exploratory study. The system then was implemented and a pilot experiment was conducted to validate it. The main outcomes suggest that the system has provided personalized ads for users. The main implications suggest that the system can be used for further testing and validating.

Keywords: adaptive hypermedia, e-advertisement, social, hypotheses, exploratory study, framework

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Authors: Abdi Ismail, Zain Amarta, Riza Rifaldy Argaputra

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The Helical Turbine has the highest efficiency in comparison with the other hydrokinetic turbines. However, the potential of the Helical Turbine efficiency can be further improved so that the kinetic energy of a water current can be converted into mechanical energy as much as possible. This paper explains the effects by adding a Movable Airfoil Arm (MAA) and ducting on a Helical Turbine. The first research conducted an analysis of the efficiency comparison between a Plate Arm Helical Turbine (PAHT) versus a Movable Arm Helical Turbine Airfoil (MAAHT) at various water current velocities. The first step is manufacturing a PAHT and MAAHT. The PAHT and MAAHT has these specifications (as a fixed variable): 80 cm in diameter, a height of 88 cm, 3 blades, NACA 0018 blade profile, a 10 cm blade chord and a 60o inclination angle. The MAAHT uses a NACA 0012 airfoil arm that can move downward 20o, the PAHT uses a 5 mm plate arm. At the current velocity of 0.8, 0.85 and 0.9 m/s, the PAHT respectively generates a mechanical power of 92, 117 and 91 watts (a consecutive efficiency of 16%, 17% and 11%). At the same current velocity variation, the MAAHT respectively generates 74, 60 and 43 watts (a consecutive efficiency of 13%, 9% and 5%). Therefore, PAHT has a better performance than the MAAHT. Using analysis from CFD (Computational Fluid Dynamics), the drag force of MAA is greater than the one generated by the plate arm. By using CFD analysis, the drag force that occurs on the MAA is more dominant than the lift force, therefore the MAA can be called a drag device, whereas the lift force that occurs on the helical blade is more dominant than the drag force, therefore it can be called a lift device. Thus, the lift device cannot be combined with the drag device, because the drag device will become a hindrance to the lift device rotation. The second research conducted an analysis of the efficiency comparison between a Ducted Helical Turbine (DHT) versus a Helical Turbine (HT) through experimental studies. The first step is manufacturing the DHT and HT. The Helical turbine specifications (as a fixed variable) are: 40 cm in diameter, a height of 88 cm, 3 blades, NACA 0018 blade profile, 10 cm blade chord and a 60o inclination angle. At the current speed of 0.7, 0.8, 0.9 and 1.1 m/s, the HT respectively generates a mechanical power of 72, 85, 93 and 98 watts (a consecutive efficiency of 38%, 30%, 23% and 13%). At the same current speed variation, the DHT generates a mechanical power of 82, 98, 110 and 134 watts (a consecutive efficiency of 43%, 34%, 27% and 18%), respectively. The usage of ducting causes the water current speed around the turbine to increase.

Keywords: hydrokinetic turbine, helical turbine, movable airfoil arm, ducting

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Authors: M. Barbouche, M. Hajji, H. Ezzaouia

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This project is a step to manufacture solar grade silicon. It consists in designing an electrical arc furnace in order to produce metallurgical silicon Mg-Si with mutually carbon and high purity of silica. It concerns, first, the development of a functional analysis, a mechanical design and thermodynamic study. Our study covers also, the design of the temperature control system and the design of the electric diagrams. The furnace works correctly. A Labview interface was developed to control all parameters and to supervise the operation of furnace. Characterization tests with X-ray technique and Raman spectroscopy allow us to confirm the metallurgical silicon production.

Keywords: arc furnace, electrical design, silicon manufacturing, regulation, x-ray characterization

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Authors: Mohammad Samarah, Benjamin Stark, Jennifer Kindle, Langley Payton

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Innovation is a key driver for companies, society, and economic growth. However, assessing and measuring innovation for individuals as well as organizations remains difficult. Our i5-Score presented in this study will help to overcome this difficulty and facilitate measuring the innovation potential. The score is based on a framework we call the 5Gs of innovation which defines specific innovation attributes. Those are 1) the drive for long-term goals 2) the audacity to generate new ideas, 3) the openness to share ideas with others, 4) the ability to grow, and 5) the ability to maintain high levels of optimism. To validate the i5-Score, we conducted a study at Florida Polytechnic University. The results show that the i5-Score is a good measure reflecting the innovative mindset of an individual or a group. Thus, the score can be utilized for evaluating, refining and enhancing innovation capabilities.

Keywords: Change Management, Innovation Attributes, Organizational Development, STEM and Venture Creation

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Authors: Ana Julia Acevedo Urquiaga, Jose A. Acevedo Suarez, Ana Julia Urquiaga Rodriguez, Neyfe Sablon Cossio

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Despite the progress made in logistics and supply chains fields, it is unavoidable the development of business models that use efficiently information to facilitate the integrated logistics flows management between partners. Collaborative management is an important tool for materializing the cooperation between companies, as a way to achieve the supply chain efficiency and effectiveness. The first face of this research was a comprehensive analysis of the collaborative planning on the Cuban companies. It is evident that they have difficulties in supply chains planning where production, supplies and replenishment planning are independent tasks, as well as logistics and distribution operations. Large inventories generate serious financial and organizational problems for entities, demanding increasing levels of working capital that cannot be financed. Problems were found in the efficient application of Information and Communication Technology on business management. The general objective of this work is to develop a methodology that allows the deployment of a planning and control system in a coordinated way on the medicine’s logistics system in Cuba. To achieve these objectives, several mechanisms of supply chain coordination, mathematical programming models, and other management techniques were analyzed to meet the requirements of collaborative logistics management in Cuba. One of the findings is the practical and theoretical inadequacies of the studied models to solve the current situation of the Cuban logistics systems management. To contribute to the tactical-operative management of logistics, the Collaborative Logistics Flow Management Model (CLFMM) is proposed as a tool for the balance of cycles, capacities, and inventories, always to meet the final customers’ demands in correspondence with the service level expected by these. The CLFMM has as center the supply chain planning and control system as a unique information system, which acts on the processes network. The development of the model is based on the empirical methods of analysis-synthesis and the study cases. Other finding is the demonstration of the use of a single information system to support the supply chain logistics management, allows determining the deadlines and quantities required in each process. This ensures that medications are always available to patients and there are no faults that put the population's health at risk. The simulation of planning and control with the CLFMM in medicines such as dipyrone and chlordiazepoxide, during 5 months of 2017, permitted to take measures to adjust the logistic flow, eliminate delayed processes and avoid shortages of the medicines studied. As a result, the logistics cycle efficiency can be increased to 91%, the inventory rotation would increase, and this results in a release of financial resources.

Keywords: collaborative management, medicine logistic system, supply chain planning, tactical-operative planning

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Authors: Fahem Belkacemi, Lyes Ouali

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Maintenance strategies and assessments continue to be a major concern for companies today. The socio-economic bets of their competitiveness are closely linked to the activities and quality of maintenance. This work deals with a study of a preventive maintenance plan to improve the availability of the production line within SAMSUNG HOME APPLIANCE “SAMHA”, Setif, Algeria. First, we applied the method of analysis of failure modes, their impact, and criticality to reduce downtime and identification of the most critical elements. Finally, to improve the availability of the production line, we carried out a study of the current preventive maintenance plan in the production line workshop at the company level and according to the history sheet of machine failures. We proposed a preventive maintenance plan to improve the availability of the production line.

Keywords: preventive maintenance, DRUM line, AMDEC, availability

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Authors: Adesuwa Omorede, Rufai Haruna Kilu

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Affective motivation (motivation that is emotionally laden usually related to affect, passion, emotions, moods) in the workplace stimulates individuals to reinforce, persist and commit to their task, which leads to the individual and organizational performance. This leads individuals to reach goals especially in situations where task are highly challenging and hostile. In such situations, individuals are more disposed to be more creative, innovative and see new opportunities from the loopholes in their workplace. However, when individuals feel displaced and less important, an adverse reaction may suffice which may be detrimental to the organization and its performance. One sector where affective motivation is eminently present and relevant, is the mining industry. Due to its intense work environment; mostly dominated by men and masculinity cultures; and deliberate exclusion of women in this environment which, makes the women working in these environments to feel marginalized. In Ghana, the mining industry is mostly seen as a very physical environment especially underground and mostly considerd as 'no place for a woman'. Despite the fact that these women feel less 'needed' or 'appreciated' in such environments, they still have to juggle between intense work shifts; face violence and other health risks with their families, which put a strain on their affective motivational reaction. Beyond these challenges, however, several mining companies in Ghana today are working towards providing a fair and equal working situation for both men and women miners, by recognizing them as key stakeholders, as well as including them in the stages of mining projects from the planning and designing phase to the evaluation and implementation stage. Drawing from the psychology and gender literature, this study takes a narrative approach to identify and understand the shifting gender dynamics within the mine works in Ghana, occasioning a change in background disposition of miners, which leads to more women taking up mine jobs in the country. In doing so, a qualitative study was conducted using semi-structured interviews from Ghana. Several women working within the mining industries in Ghana shared their experiences and how they felt and still feel in their workplace. In addition, archival documents were gathered to support the findings. The results suggest a change in enrolment regimes in a mining and technology university in Ghana, making room for a more gender equal enrolments in the university. A renowned university that train and feed mine work professional into the industry. The results further acknowledge gender equal and diversity recruitment policies and initiatives among the mining companies of Ghana. This study contributes to the psychology and gender literature by highlighting the hindrances women face in the mining industry as well as highlighting several of their affective reactions towards gender inequality. The study also provides several suggestions for decision makers in the mining industry of what can be done in the future to reduce the gender inequality gap within the industry.

Keywords: affective motivation, gender shape shifting, mining industry, women miners

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Authors: Rika Yuliana, Budi Rahardjo

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The Role of ICT in the organization will continue to experience growth in line with business growth. However, in reality, there is a gap between ICT initiatives with the development (needs) of company business that is caused by yet inadequate of ICT strategic alignment. Therefore, this study was conducted with the aim to create an enterprise architectural model rule, particularly in mining companies, using the TOGAF framework. The results from the design development phase of the mining enterprise architecture meta model represents the domain of business, applications, data, and technology. The results of the design as a whole were analyzed from four perspectives, namely the perspective of contextual, conceptual, logical and physical. In the end, the quality assessment of the mining enterprise architecture is conducted to assess the suitability of the design standards and architectural principles.

Keywords: design and development the information technology architecture, enterprise architecture, enterprise architecture design result, TOGAF architecture development method (ADM)

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Authors: Ilaria Lucrezia Amerise

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Electricity markets throughout the world have undergone substantial changes. Accurate, reliable, clear and comprehensible modeling and forecasting of different variables (loads and prices in the first instance) have achieved increasing importance. In this paper, we describe the actual state of the art focusing on reg-SARMA methods, which have proven to be flexible enough to accommodate the electricity price/load behavior satisfactory. More specifically, we will discuss: 1) The dichotomy between point and interval forecasts; 2) The difficult choice between stochastic (e.g. climatic variation) and non-deterministic predictors (e.g. calendar variables); 3) The confrontation between modelling a single aggregate time series or creating separated and potentially different models of sub-series. The noteworthy point that we would like to make it emerge is that prices and loads require different approaches that appear irreconcilable even though must be made reconcilable for the interests and activities of energy companies.

Keywords: interval forecasts, time series, electricity prices, reg-SARIMA methods

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Authors: Jin Sheng

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

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

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Authors: Mohammad Reza Ostad Ali Naghi Kashani, Esfanji Elia

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Nowadays, the amounts of companies which tend to have an Enterprise Resource Planning (ERP) application are increasing particularly in developing countries like Iran. ERP projects are expensive, time consuming, and complex, in addition the failure rate is high among these projects. It is important to know whether these projects could meet their goals or not. Furthermore, the area which should be improved should be identified. In this paper we made a framework to evaluate ERP projects success implementation. First, based on literature review we made a framework based on BSC model, financial, customer, processes, learning and knowledge, because of the importance of change management it was added to model. Then an organization was divided in three layers. We choose corporate, managerial, and operational levels. Then to find criteria to assess each aspect, we use Delphi method in two rounds. And for the second round we made a questionnaire and did some statistical tasks on them. Based on the statistical results some of them are accepted and others are rejected.

Keywords: ERP, BSC, ERP project evaluation, IT projects

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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

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Authors: K. Z. Tang, K. Ameek, K. Kuang

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Rapid product development cycles and changing economic conditions compel businesses to find new ways to stay relevant and effective. One of the ways which many companies have adopted is to spur innovations within the various team-based units in the organization. It would be relevant and important to ensure our graduates are ready to excel in such evolving conditions within their professional eco-systems. However, it is not easy to understand the interplays of nurturing team innovation and improving students’ learning, in the context of engineering education. In this study, we seek to understand team innovation and explore ways to improve students’ performance and learning, via motivation and mentorship. Learning goals from a group of students are collected during a carefully designed two-week long summer programme to provide insights on the main themes, within the context of learning and working in a team.

Keywords: team innovation, mentorship, motivation, learning

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Authors: Sarah Majid Ansari, Serjosha Wulf, Matthias Goerke

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In times of global warming and the increasing shortage of resources, sustainable production is becoming more and more inevitable. Companies cannot only heighten their competitiveness but also contribute positively to environmental protection through efficient energy and resource consumption. Regarding this, technical solutions are often preferred during production, although organizational and process-related approaches also offer great potential. This project focuses on reducing resource usage, with a special emphasis on the human factor. It is the aspiration to develop a methodology that systematically implements and embeds suitable and individual measures and methods regarding resource efficiency throughout the entire production. The measures and methods established help employees handle resources and energy more sensitively. With this in mind, this paper also deals with the difficulties that can occur during the sensitization of employees and the implementation of these measures and methods. In addition, recommendations are given on how to avoid such difficulties.

Keywords: implementation, human factors, production plants, resource efficiency

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Authors: Marko Čular

Abstract:

The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyses transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper, quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: transparency report, index quality of transparency report, Croatian audit act, code of ethics for professional accountants

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Authors: Kisanga Arsene

Abstract:

The abundant literature on corporate governance identifies four main objectives: the configuration of power within firms, control, conflict prevention and the equitable distribution of value created. The persistent dysfunctions in companies in developing countries in general and in African countries, in particular, show that these objectives are generally not achieved, which supports the idea of analyzing corporate governance practices in Africa. Indeed, the objective of this paper is to review the literature on corporate governance in Africa, to outline the specific practices and challenges of corporate governance in Africa and to identify reliable indicators and variables to capture corporate governance in Africa. In light of the existing literature, we argue that corporate governance in Africa can only be studied in the light of African realities and by taking into account the institutional environment. These studies show the existence of a divide between governance practices and the legislative and regulatory texts in force in the African context.

Keywords: institutional environment, transparency, accountability, Africa

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Authors: Hasanein Hasan, Mohammed Al-Taie, Basil Shanshool, Khalaf Abd-Ali

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This approach aims to deal with establishing and operating Iraqi Fibre-To-The-Home (FTTH) projects. The problems they suffer from are organized sabotage, vandalism, accidental damage and poor planning. It provides practical solutions that deal with the aforementioned problems. These solutions consist of both technical and financial clarifications that ensure the achievement of the FTTH network’s stability for the purpose of equipping citizens, private sector companies, and governmental institutions with services, data transmission, the Internet, and other services. They aim to solve problems and obstacles accompanying the operation and maintenance of FTTH projects implemented by the Informatics and Telecommunications Public Company (ITPC)/ Iraqi Ministry of Communications (MoC). This approach takes the FTTH network of AlMaalif-AlMuaslat districts/ Baghdad-Iraq as a case study.

Keywords: CCTV, FTTH, ITPC, MoC, NVR, PTZ

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Authors: Byeong-Sam Kim, Jongmin Park

Abstract:

The present work is motivated by the industrial challenge to produce complex composite shapes cost-effectively. The model used an anisotropical thermoviscoelastic is analyzed by an implemented finite element solver. The stress relaxation can be constructed by Prony series for the nonlinear thermoviscoelastic model. The calculation of process induced internal stresses relaxation during the cooling stage of the manufacturing cycle was carried out by the spring back phenomena observed from the part containing a cylindrical segment. The finite element results obtained from the present formulation are compared with experimental data, and the results show good correlations.

Keywords: thermoviscoelastic, springback phenomena, FEM analysis, thermoplastic composite structures

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Authors: Anurag Reddy Ramireddy, Abrar Ahmed, G. Sourya Sri Harsha, Pushkala Muralidharan

Abstract:

Supply chains have been developing over time since the inception of commercial trade and barter. The Green Supply Chain Management (GSCM) is a powerful way to differentiate a company from its competitors and it can greatly influence the plan success. With increased awareness to corporate responsibility and the requirement to meet the terms with environmental policy, GSCM is becoming increasingly important for companies. This paper explains the concept of green supply chain management, the difference between conventional supply chain management and green supply management and how GSCM benefits organizations while at the same time supporting a sustainable environment system. An effort has also been made to analyse research already done in this field while exploring the challenges and barriers that organizations face in implementing GSCM practices in their existing systems.

Keywords: corporate social responsibility, green supply chain management, sustainability

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Authors: Ahmad Odeh, Ahmad Jrade

Abstract:

Energy assessment is an evidently significant factor when evaluating the sustainability of structures especially at the early design stage. Today design practices revolve around the selection of material that reduces the operational energy and yet meets their displinary need. Operational energy represents a substantial part of the building lifecycle energy usage but the fact remains that embodied energy is an important aspect unaccounted for in the carbon footprint. At the moment, little or no consideration is given to embodied energy mainly due to the complexity of calculation and the various factors involved. The equipment used, the fuel needed, and electricity required for each material vary with location and thus the embodied energy will differ for each project. Moreover, the method and the technique used in manufacturing, transporting and putting in place will have a significant influence on the materials’ embodied energy. This anomaly has made it difficult to calculate or even bench mark the usage of such energies. This paper presents a model aimed at helping designers select the construction materials based on their embodied energy. Moreover, this paper presents a systematic approach that uses an efficient method of calculation and ultimately provides new insight into construction material selection. The model is developed in a BIM environment targeting the quantification of embodied energy for construction materials through the three main stages of their life: manufacturing, transportation and placement. The model contains three major databases each of which contains a set of the most commonly used construction materials. The first dataset holds information about the energy required to manufacture any type of materials, the second includes information about the energy required for transporting the materials while the third stores information about the energy required by tools and cranes needed to place an item in its intended location. The model provides designers with sets of all available construction materials and their associated embodied energies to use for the selection during the design process. Through geospatial data and dimensional material analysis, the model will also be able to automatically calculate the distance between the factories and the construction site. To remain within the sustainability criteria set by LEED, a final database is created and used to calculate the overall construction cost based on R.M.S. means cost data and then automatically recalculate the costs for any modifications. Design criteria including both operational and embodied energies will cause designers to revaluate the current material selection for cost, energy, and most importantly sustainability.

Keywords: building information modelling, energy, life cycle analysis, sustainablity

Procedia PDF Downloads 268