Search results for: financial products

Authors: Murat Erdoğdu, Mehmet Öçalan

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The main aim of this study is to find out the effects of the concepts of the brand awareness and the brand loyalty of teenagers (13-18) on their criteria to buy the products that attract high interest in the groups that do sports actively and vice versa. The training shoes that are thought to have high interests of teenagers were chosen in the study (because every student uses training shoes at least in physical education lessons) and searching the criteria to choose these products is one of the aims of this study. The sample of the research consisted of 775 teenagers doing sports (218 females, 557 males) and 752 teenagers not doing sports (399 females, 353 males) from the primary and secondary schools in the center of Ankara. 1527 students in total voluntarily participated in the study. When the effects of the brand functions perceived about the sample on the brand awareness was analyzed, it was found out that all of three function types have a positive and significant effect on the brand awareness. It was found out that there was a positive and average relationship between the dependence on a brand and the brand loyalty. It was understood that there was a positive and weak relationship between the brand loyalty and the general brand awareness in training shoes among teenagers. The groups of the teenagers doing sports and of the teenagers not doing sports showed significant differences in their preferences about training shoes. The effects of the criteria to buy training shoes on the brand loyalty showed significant differences in the groups. In addition, it was determined that according to their variables of doing sports actively, the teenagers doing sports actively have significantly higher brand awareness and brand loyalty than the teenagers not doing sports.

Keywords: brand awareness, brand loyalty sports marketing, teenagers, the level of doing sports

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Authors: Ameen Alshugaa, Abul Mansur Masih

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This paper sheds light on the economic impacts of political uncertainty caused by the civil uprisings that swept the Arab World and have been collectively known as the Arab Spring. Measuring documented effects of political uncertainty on regional stock market indices, we examine the impact of the Arab Spring on the volatility of stock markets in eight countries in the Middle East and North Africa (MENA) region: Egypt, Lebanon, Jordon, United Arab Emirate, Qatar, Bahrain, Oman and Kuwait. This analysis also permits testing the existence of financial contagion among equity markets in the MENA region during the Arab Spring. To capture the time-varying and multi-horizon nature of the evidence of volatility and contagion in the eight MENA stock markets, we apply two robust methodologies on consecutive data from November 2008 to March 2014: MGARCH-DCC, Continuous Wavelet Transforms (CWT). Our results indicate two key findings. First, the discrepancies between volatile stock markets of countries directly impacted by the Arab Spring and countries that were not directly impacted indicate that international investors may still enjoy portfolio diversification and investment in MENA markets. Second, the lack of financial contagion during the Arab Spring suggests that there is little evidence of cointegration among MENA markets. Providing a general analysis of the economic situation and the investment climate in the MENA region during and after the Arab Spring, this study bear significant importance for policy makers, local and international investors, and market regulators.

Keywords: Portfolio Diversification , MENA Region , Stock Market Indices, MGARCH-DCC, Wavelet Analysis, CWT

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Authors: Laura Ramona Nae

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The issue of risks faced by companies providing tourist and hotel services in the HoReCa field, related to the goods belonging to consumer tourists left in hotel storage, has acquired a new dimension in the context of the economic and geo-political influences that have recently intervened at the global level. Thus, hoteliers and not only had to create contractual mechanisms regarding the risks and to protect the businesses in this field of activity. This situation has led to a reassessment of the importance of insurance, in particular with regard to hotel liability insurance-premises liability, safety, and security of goods. Interpretation of clauses in contracts concluded between hoteliers and tourists consuming hotel services and products, all the more so in the current pandemic context of Covid 19, stressed the increase in the number of disputes generated by them. This article presents a general picture of the significance of the risks related to the activity carried out in the hospitality industry, tourism, respectively within the HoReCa field. The study mainly marks the specificities of the hotel deposit contract, as well as the related insurance specific to the field, as a way to cover these risks. The article also refers to alternative methods of out-of-court settlement of disputes (ADR) in the HoReCa domain, generally used in both Romania and the European Union.

Keywords: consumer tourist, disputes and ADR methods, deposit contract, hotel warehouse and hotelier insurance, hotel services and tourist products, HoReCa

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Authors: Armend Kelmendi, Adnan Ahmeti

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The purpose of our study was to assess the impact of soccer in the overall wealth fare (education, health, and economic prosperity) of youth in Kosovo (age: 7-18). The research conducted measured a number of parameters (training methodologies, conditions, community leadership impact) in a sample consisting of 6 different football clubs’ academies across the country. Fifty (50) male and female football youngsters volunteered in this study. To generate more reliable results, the analysis was conducted with the help of a set of effective project management tools and techniques (Gantt chart, Logic Network, PERT chart, Work Breakdown Structure, and Budgeting Analysis). The interviewees were interviewed under a specific lens of categories (impact in education, health, and economic prosperity). A set of questions were asked i.e. what has football provided to you and the community you live in?; Did football increase your confidence and shaped your life for better?; What was the main reason you started training in football? The results generated explain how a single sport, namely that of football in Kosovo can make a huge social change, improving key social factors in a society. There was a considerable difference between the youth clubs as far as training conditions are concerned. The study found out that despite financial constraints, two out of six clubs managed to produce twice as more talented players that were introduced to professional primary league teams in Kosovo and Albania, including other soccer teams in the region, Europe, and Asia. The study indicates that better sports policy must be formulated and associated with important financial investments in soccer for it to be considered fruitful and beneficial for players of 18 plus years of age, namely professionals.

Keywords: youth, prosperity, conditions, investments, growth, free movement

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Authors: Mohammad Azam

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This work is an endeavor to empirically investigate the Gross Domestic Product-Growth as mediating variable between various factors and portfolio returns using a broad sample of 522 financial and non-financial firms enlisted on Pakistan Stock Exchange between January-1993 and June-2022. The study employs the Structural Equation modeling and Ordinary Least Square regression to determine the findings before and during the Covid-19 epidemiological situation, which has not received due attention by researchers. The analysis reveals that market and investment factors are redundant, whereas size and value show significant results, whereas Gross Domestic Product-Growth performs significant mediating impact for the whole time frame. Using before Covid-19 period, the results reveal that market, value, and investment are redundant, but size, profitability, and Gross Domestic Product-Growth are significant. During the Covid-19, the statistics indicate that market and investment are redundant, though size and Gross Domestic Product-Growth are highly significant, but value and profitability are moderately significant. The Ordinary Least Square regression shows that market and investment are statistically insignificant, whereas size is highly significant but value and profitability are marginally significant. Using the Gross Domestic Product-Growth augmented model, a slight growth in R-square is observed. The size, value and profitability factors are recommended to the investors for Pakistan Stock Exchange. Conclusively, in the Pakistani market, the Gross Domestic Product-Growth indicates a feeble moderating effect between risk-premia and portfolio returns.

Keywords: asset pricing puzzle, mediating role of GDP-growth, structural equation modeling, COVID-19 pandemic, Pakistan stock exchange

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Authors: Hila Levi

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Respect for human rights is a fundamental element of the European Union's (EU) identity and law. Surprisingly, however, the protection of human rights has been significantly restricted in the austerity programs ordered by the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission (EC) (often labeled 'the Troika') in return for financial aid to the crisis-hit countries. This paper focuses on the role of the ECB in the crisis management. While other international financial institutions, such as the IMF or the World Bank, may opt to neglect human rights obligations, one might expect a greater respect of human rights from the ECB, which is bound by the EU Charter of Fundamental Rights. However, this paper argues that ECB officials made no significant effort to protect human rights or strike an adequate balance between competing financial and human rights needs while coping with the crisis. ECB officials were preoccupied with the need to stabilize the economy and prevent a collapse of the Eurozone, and paid only marginal attention to human rights concerns in the design and implementation of Troikas' programs. This paper explores the role of Organizational Culture (OC) in explaining this marginalization. While International Relations (IR) research on Intergovernmental Organizations (IGOs) behavior has traditionally focused on external interests of powerful member states, and on national and economic considerations, this study focuses on particular institutions' internal factors and independent processes. OC characteristics have been identified in OC literature as an important determinant of organizational behavior. This paper suggests that cultural characteristics are also vital for the examination of IGOs, and particularly for understanding the ECB's behavior during the crisis. In order to assess the OC of the ECB and the impact it had on its policies and decisions during the Eurozone crisis, the paper uses the results of numerous qualitative interviews conducted with high-ranking officials and staff members of the ECB involved in the crisis management. It further reviews primary sources of the ECB (such as ECB statutes, and the Memoranda of Understanding signed between the crisis countries and the Troika), and secondary sources (such as the report of the UN High Commissioner for Human Rights on Austerity measures and economic, social, and cultural rights). It thus analyzes the interaction between the ECBs culture and the almost complete absence of human rights considerations in the Eurozone crisis resolution scheme. This paper highlights the importance and influence of internal ideational factors on IGOs behavior. From a more practical perspective, this paper may contribute to understanding one of the obstacles in the process of human rights implementation in international organizations, and provide instruments for better protection of social and economic rights.

Keywords: European central bank, eurozone crisis, intergovernmental organizations, organizational culture

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Authors: Ebrahim Sabermaash Eshghi, Donna Sandsmark

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Nowadays, successful companies try to create a reliable and unique competitive position in the market. It is important to consider that only choosing and codifying a competitive strategy appropriate with the market conditions does not have any influence on the final performance of the company by itself, but it is the connection and interaction between upstream level strategies and functional level strategies which leads to development of company performance in its operating environment. Given the importance of the subject, this study tries to investigate effective factors on product performance and prioritize them. This study was done with quantitative-qualitative approach (interview and questionnaire). In sum, 103 informed managers and experts of Pars-Khazar Company were investigated in a census. Validity of measure tools was approved through experts’ judgments. Reliability of the tools was also gained through Cronbach's Alpha Coefficient as 0.930 and in sum, validity and reliability of the tools was approved generally. Analysis of collected data was done through Spearman Correlation Test and Friedman Test using SPSS software. The results showed that management of distribution and demand process (0.675), management of Product Pre-test (0.636) and Manufacturing and inventory management(0.628) had the highest correlation with product performance. Prioritization of factors of structure of launching new products based on the average showed that management of volume of launched products and Manufacturing and inventory management had the most importance.

Keywords: product performance, home appliances, market, case study

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Authors: Sergio Rapagnà, Alessandro Antonio Papa, Armando Vitale, Andre Di Carlo

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In recent years the world population has enormously increased the use of plastic products for their living needs, in particular for transporting and storing consumer goods such as food and beverage. Plastics are widely used in the automotive industry, in construction of electronic equipment, clothing and home furnishings. Over the last 70 years, the annual production of plastic products has increased from 2 million tons to 460 million tons. About 20% of the last quantity is mismanaged as waste. The consequence of this mismanagement is the release of plastic waste into the terrestrial and marine environments which represents a danger to human health and the ecosystem. Recycling all plastics is difficult because they are often made with mixtures of polymers that are incompatible with each other and contain different additives. The products obtained are always of lower quality and after two/three recycling cycles they must be eliminated either by thermal treatment to produce heat or disposed of in landfill. An alternative to these current solutions is to obtain a mixture of gases rich in H₂, CO and CO₂ suitable for being profitably used for the production of chemicals with consequent savings fossil sources. Obtaining a hydrogen-rich syngas can be achieved by gasification process using the fluidized bed reactor, in presence of steam as the fluidization medium. The fluidized bed reactor allows the gasification process of plastics to be carried out at a constant temperature and allows the use of different plastics with different compositions and different grain sizes. Furthermore, during the gasification process the use of steam increase the gasification of char produced by the first pyrolysis/devolatilization process of the plastic particles. The bed inventory can be made with particles having catalytic properties such as olivine, capable to catalyse the steam reforming reactions of heavy hydrocarbons normally called tars, with a consequent increase in the quantity of gases produced. The plant is composed of a fluidized bed reactor made of AISI 310 steel, having an internal diameter of 0.1 m, containing 3 kg of olivine particles as a bed inventory. The reactor is externally heated by an oven up to 1000 °C. The hot producer gases that exit the reactor, after being cooled, are quantified using a mass flow meter. Gas analyzers are present to measure instantly the volumetric composition of H₂, CO, CO₂, CH₄ and NH₃. At the conference, the results obtained from the continuous gasification of polypropylene (PP) particles in a steam atmosphere at temperatures of 840-860 °C will be presented.

Keywords: gasification, fluidized bed, hydrogen, olivine, polypropyle

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Authors: Pascal Rey, Anaïs Weber

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Many mining projects are being developed in Africa the last decades. Due to the economic opportunities they offer, these projects result in a massive and rapid influx of migrants to the surrounding area. In areas where central government representation is low and local administration lack financial resources, urban development is often anarchical, beyond all public control. It leads to socio-spatial segregation, insecurity and the risk of social conflicts rising. Aware that their economic development is very correlated with local situation, mining companies get more and more involved in regional planning in setting up tools and Strategic Directions document. One of the commonly used tools in this regard is the “Influx Management Plan”. It consists in looking at the region’s absorption capacities in order to ensure its coherent development and by developing several urban centers than one macrocephalic city. It includes many other measures such as urban governance support, skills transfer, creation of strategic guidelines, financial support (local taxes, mining taxes, development funds etc.) local development projects. Through various examples of mining projects in Guinea, A country that is host to many large mining projects, we will look at the implications of regional and urban planning of which mining companies are key playor as well as public authorities. While their investment capacity offers advantages and accelerates development, their actions raise questions of the unilaterality of interests and local governance. By interfering in public affairs are mining companies not increasing the risk of central and local government shirking their responsibilities in terms of regional development, or even calling their legitimacy into question? Is such public-private collaboration really sustainable for the region as a whole and for all stakeholders?

Keywords: Africa, guinea, mine, urban planning

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Authors: Shofiq Ahmed, Rakibul Hassan, Raquib Ahsan

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Concrete is one of the basic elements of RCC structure and also the most crucial one. In recent years, a lot of researches have been conducted to develop special types of concrete for special purposes. Micro-concrete is one of them which has high compressive strength and is mainly used for retrofitting. Micro-concrete is a cementitious based composition formulated for use in repairs of areas where the concrete is damaged & the area is confined in movement making the placement of conventional concrete difficult. According to recent statistics, a large number of structures in the major cities of Bangladesh are vulnerable to collapse. Retrofitting may thus be required for a sustainable solution, and for this purpose, the utilization of micro-concrete can be considered as the most effective solution. For that reason, the aim of this study was to produce micro-concrete using indigenous materials in low cost. Following this aim, the experimental data were observed for five mix ratios with varied amount of cement, fine aggregate, coarse aggregate, water, and admixture. The investigation criteria were a compressive strength, tensile strength, slump and the cost of different mix ratios. Finally, for a mix ratio of 1:1:1.5, the compressive strength was achieved as 7820 psi indicating highest strength among all the samples with the reasonable tensile strength of 1215 psi. The slump of 6.9 inches was also found for this specimen indicating it’s high flowability and making it’s convenient to use as micro-concrete. Moreover, comparing with the cost of foreign products of micro-concrete, it was observed that foreign products were almost four to five times costlier than this local product.

Keywords: indigenous, micro-concrete, retrofitting, vulnerable

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Authors: Sid Ahmed Ziane

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This paper argues for Johnson's financial responsiveness to the rise of Black Power and its advocate, 'Stokely Carmichael' in 1966. John H. Johnson was a Black businessman and the owner of Ebony magazine, one of the widely read Black magazines in the U.S. His magazine, however, was designed only to promoting Black fashion, aesthetic, marketing, and consumerism. In mid-1966, the mainstream of the Civil Rights movement was heading into two distinct camps when some of its advocates, led by Stokely Carmichael, began to question the slow pace of the Civil Rights and sought to pursue a more radical approach to bring about upheaval to the Black community. Their new approach, however, propelled the national media into paying close attention to their activities, their new methods, and their radical orientations. In fact, the major White-oriented media discredited Carmichael and distorted his public image via sensational stories and race-mongering reports. However, the Black owned outlets such as The Liberator advocated his agendas, whereas other magazines such as The Crisis rejected them. Based on such oral sources and Ebony’s online issues, this paper adds and argues that Johnson had also responded to the rise of Black Power and Carmichael. This reaction had, in fact, aimed at scooping and selling Carmichael and his new orientation as well as advertising him in his magazine to attract the readers who showed a strong tendency to hear and read about the heyday and even the ferment of Black Power. This paper is part of an ongoing project which aims at framing our understanding of how the Black print media and the modern Black liberation struggle were correlated and could shape each other by appraising their agendas, milestones, and their pivotal figures.

Keywords: Black power, Ebony magazine, John Johson, Stokely Carmichael

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Authors: Nikita Katyal, Shaurya Uppal

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This paper tackles the significant challenge of accurately classifying customers within a retailer’s customer base. Accurate classification is essential for developing targeted marketing strategies that effectively engage this important demographic. To address this issue, we propose a method that utilizes Large Language Models (LLMs). By employing LLMs, we analyze the metadata associated with product purchases derived from historical data to identify key product categories that act as distinguishing factors. These categories, such as baby food, eldercare products, or family-sized packages, offer valuable insights into the likely household composition of customers, including families with babies, families with kids/teenagers, families with pets, households caring for elders, or mixed households. We segment high-confidence customers into distinct categories by integrating historical purchase behavior with LLM-powered product classification. This paper asserts that life stage segmentation can significantly enhance e-commerce businesses’ ability to target the appropriate customers with tailored products and campaigns, thereby augmenting sales and improving customer retention. Additionally, the paper details the data sources, model architecture, and evaluation metrics employed for the segmentation task.

Keywords: LLMs, segmentation, product tags, fine-tuning, target segments, marketing communication

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Authors: A. Douka, S. Vouyiouka, L. M. Papaspyridi, D. Korres, C. Papaspyrides

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A "green" process was studied for the preparation of partially renewable aliphatic polyesters based on 1,4-butanediol and 1,8-octanediol with various diacids and derivatives, namely diethyl succinate, adipic acid, sebacic acid, 1,12-dodecanedioic acid and 1,14-tetradecanedioic acid. A first step of enzymatic prepolymerization was carried out in the presence of two different solvents, toluene and diphenylether, applying molecular sieves and vacuum, respectively, to remove polycondensation by-products. Poly(octylene adipate) (PE 8.6), poly(octylene dodecanate)(PE 8.12) and poly(octylene tetradecanate) (PE 8.14) were firstly enzymatically produced in toluene using molecular sieves giving however, low-molecular-weight products. Thereafter, the synthesis of PE 8.12 and PE 8.14 was examined under optimized conditions using diphenylether as solvent and a more vigorous by-product removal step, such as application of vacuum. Apart from these polyesters, the optimized process was also implemented for the production of another long-chain polyester-poly(octylene sebacate) (PE 8.10) and a short-chain polyester-poly(butylene succinate) (PE 4.4). Subsequently, bulk post-polymerization in the melt or solid state was performed. SSP runs involved absence of biocatalyst and reaction temperatures (T) in the vicinity of the prepolymer melting point (Tm-T varied between 15.5 up to 4oC). Focusing on PE 4.4 and PE 8.12, SSP took place under vacuum or flowing nitrogen leading to increase of the molecular weight and improvement of the end product physical appearance and thermal properties.

Keywords: aliphatic polyester, enzymatic polymerization, solid state polymerization, Novozym 435

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Authors: Maria Antonieta Erna Castillo Holly

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During the last decade, data analysis, strategic decision making, and the use of artificial intelligence (AI) tools in Latin American agriculture have been a challenge. In some countries, the availability, quality, and reliability of historical data, in addition to the current data recording methodology in the field, makes it difficult to use information systems, complete data analysis, and their support for making the right strategic decisions. This is something essential in Agriculture 4.0. where the increase in the global demand for fresh agricultural products of tropical origin, during all the seasons of the year requires a change in the production model and greater agility in the responses to the consumer market demands of quality, quantity, traceability, and sustainability –that means extensive data-. Having quality information available and updated in real-time on what, how much, how, when, where, at what cost, and the compliance with production quality standards represents the greatest challenge for sustainable and profitable agriculture in the region. The objective of this work is to present a methodological proposal for the collection of georeferenced data from the protected agriculture sector, specifically in production units (UP) with tall structures (Greenhouses), initially for Venezuela, taking the state of Mérida as the geographical framework, and horticultural products as target crops. The document presents some background information and explains the methodology and tools used in the 3 phases of the work: diagnosis, data collection, and analysis. As a result, an evaluation of the process is carried out, relevant data and dashboards are displayed, and the first satellite maps integrated with layers of information in a geographic information system are presented. Finally, some improvement proposals and tentatively recommended applications are added to the process, understanding that their objective is to provide better qualified and traceable georeferenced data for subsequent analysis of the information and more agile and accurate strategic decision making. One of the main points of this study is the lack of quality data treatment in the Latin America area and especially in the Caribbean basin, being one of the most important points how to manage the lack of complete official data. The methodology has been tested with horticultural products, but it can be extended to other tropical crops.

Keywords: greenhouses, protected agriculture, data analysis, geographic information systems, Venezuela

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Authors: Savvas Varitis, Panagiotis Kavouras, George Kaimakamis, Eleni Pavlidou, George Vourlias, Konstantinos Chrysafis, Philomela Komninou, Theodoros Karakostas

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Tannery industry produces high quantities of chromium containing waste which also have high organic content. Processing of this waste is important since the organic content is above the disposal limits and the containing trivalent chromium could be potentially oxidized to hexavalent in the environment. This work aims to fabricate new vitreous and glass ceramic materials which could incorporate the tannery waste in stabilized form either for safe disposal or for the production of useful materials. Tannery waste was incinerated at 500oC in anoxic conditions so most of the organic content would be removed and the chromium remained trivalent. Glass forming agents SiO2, Na2O and CaO were mixed with the resulting ash in different proportions with decreasing ash content. Considering the low solubility of Cr in silicate melts, the mixtures were melted at 1400oC and/or 1500oC for 2h and then casted on a refractory steel plate. The resulting vitreous products were characterized by X-Ray Diffraction (XRD), Differential Thermal Analysis (DTA), Scanning and Transmission Electron Microscopy (SEM and TEM). XRD reveals the existence of Cr2O3 (eskolaite) crystallites embedded in a glassy amorphous matrix. Such crystallites are not formed under a certain proportion of the waste in the ash-vitrified material. Reduction of the ash proportion increases chromium content in the silicate matrix. From these glassy products, glass-ceramics were produced via different regimes of thermal treatment.

Keywords: chromium containing tannery ash, glass ceramic materials, thermal processing, vitrification

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Authors: Sergejs Kolesovs, Armands Vigants

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The use of dairy industry by-products and wastewater as a cheap substrate for microalgal growth is gaining recognition. However, the mechanisms of lactose utilization remain understudied, limiting the potential of successful microalgal biomass production using various dairy by-products, such as whey and permeate. The necessity for microalgae to produce a specific enzyme, β-galactosidase, requires the selection of suitable strains. This study focuses on a freshwater microalgal isolate's ability to grow on a semi-synthetic medium supplemented with lactose. After 10 days of agitated cultivation, an axenic microalgal isolate achieved significantly higher biomass production under mixotrophic growth conditions (0.86 ± 0.07 g/L, dry weight) than heterotrophic growth (0.46 ± 0.04 g/L). Moreover, mixotrophic cultivation had significantly higher biomass production compared to photoautotrophic growth (0.67 ± 0.05 g/L). The activity of β-galactosidase was detected in both supernatant and microalgal biomass under mixotrophic and heterotrophic growth conditions, showing the potential of extracellular and intracellular mechanisms of enzyme production. However, the main limiting factor in this study was the increase of pH values during the cultivation, significantly reducing the activity of the β-galactosidase enzyme after 3rd day of cultivation. It highlights the need for stricter control of growth parameters to ensure the enzyme's activity. Further research will assess the isolate's suitability for dairy by-product bioconversion and biomass composition.

Keywords: microalgae, lactose, whey, permeate, beta-galactosidase, mixotrophy, heterotrophy

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Authors: Ebru Genc, Shih-Ching Wang

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In today’s globalized world, while companies move their production centers to developing countries in order to gain cost advantage, they receive negative responses from consumers because of the weak image of those countries. In this study, we looked at this tradeoff faced by multinational companies. Some companies that have headquarters in developed countries have devised a strategy of manipulating country-of-origin (COO) information by introducing the concept of country of design (COD). We analyzed the impact of country-of-manufacturing (COM) information on consumers’ product evaluation and purchase intention in the presence of different levels of COD information, namely, in terms of developed and developing countries. We found that it is not advantageous for a firm to publish a design location with a strong image if the firm is producing in a country that has a weak image. On the other hand, revealing COD information has a reinforcing effect on consumers’ product evaluation and purchase intention if the firm is producing in a country with a strong image. Second, we studied the impact of consumption context on this relationship (in terms of public or private use) and found that for products that are typically used in public, COM has significantly shown higher importance on product evaluation and purchase intention, compared to products typically used in private. However, our results show that consumption context shows no effect of an impact resulting from COD information.

Keywords: consumption context, country of design, country of manufacturing, country of origin

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Authors: Andrea ČopíKová

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Competency Based Management is a new approach to management, which solves organization’s challenges with complexity and with the aim to find and solve organization’s problems and learn how to avoid these in future. They teach the organizations to create, apart from the state of stability – that is temporary, vital organization, which is permanently able to utilize and profit from internal and external opportunities. The aim of this paper is to propose a process of competency model design, based on which a competency model for a financial department manager in a production company will be created. Competency models are very useful tool in many personnel processes in any organization. They are used for acquiring and selection of employees, designing training and development activities, employees’ evaluation, and they can be used as a guide for a career planning and as a tool for succession planning especially for managerial positions. When creating a competency model the method AHP (Analytic Hierarchy Process) and quantitative pair-wise comparison (Saaty’s method) will be used; these methods belong among the most used methods for the determination of weights, and it is used in the AHP procedure. The introduction part of the paper consists of the research results pertaining to the use of competency model in practice and then the issue of competency and competency models is explained. The application part describes in detail proposed methodology for the creation of competency models, based on which the competency model for the position of financial department manager in a foreign manufacturing company, will be created. In the conclusion of the paper, the final competency model will be shown for above mentioned position. The competency model divides selected competencies into three groups that are managerial, interpersonal and functional. The model describes in detail individual levels of competencies, their target value (required level) and the level of importance.

Keywords: analytic hierarchy process, competency, competency model, quantitative pairwise comparison

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Authors: Lie-Fen Lin, Tzu-Hsuan Lin, Ching-Heng Lin

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Hospice care for terminally ill patients provides not only a better quality of life but also cost-saving benefits. However, the utilization of home-based hospice care (HBH care) remains low even for countries covered by National Health Insurance (NHI) programs in Taiwan. In the current commercial insurance policy, only hospital-based hospice benefits were covered. It may have an influence on the insureds chosen to receive end-of-life care in a hospitalized manner. Thus, how to propose a feasible method to advocate HBH care utilization rate of public health policies is an important issue. A total of 130,219 cancer decedents in the year 2011-2013 from the National Health Insurance Research Database (NHIRD) in Taiwan were included in this study. By adding a day volume pays benefits of HBH care as a commercial insurance rider, will provide alternative benefits for the insureds. A multiple-state Markov chain model was incorporated to estimate the transition intensities of patients in different states at the end of their lives (Non-hospice, HBH, hospital-based hospice), and the premiums were estimated. HBH care insurance benefits provide financial support and reduce the burden of care for patients. The rate-making of this product is very sensitive while the utilization rate is rising, especially for high ages. The proposed HBH care insurance is a feasible way to reduce the financial burden, enhance the care quality and family satisfaction of insureds. Meanwhile, insurance companies can participate in advocating a good medical policy to enhance the social image. In addition, the medical costs of NHI can reduce effectively.

Keywords: home-based hospice care, commercial insurance, Markov chain model, the day volume pays

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Authors: Dicky Eka Putra, S. P. Nadia Chairunissa, Lidia Paramita, Roza Hartati, Ice Yolanda Puri

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Background: Soy bean and the products such as tofu, tempeh and soy milk are famous in the community. Moreover, another product is tofu flour which is not familiar in Indonesia yet and it is well known as Okara. There are massive differences of energy, protein and carbohydrate between them which is know as good for protein sources as well. Unfortunately, it is seldom used as food variety. Basically, it can be benefit in order to create many products for example cakes, snacks and some desserts. Aim: the study was in order to promote the benefit of tofu flour as school feeding of elementary school and baby porridge and also to compare the nutrient. Method: Soy pulp was filtered and steamed approximately 30 minutes. Then, it was put at a plate under sunrise or barked on the oven for 10 hours at 800C. When it have dried and milling and tofu flour is ready to be used. Result: Tofu flour could be used as substitute of flour and rice flour when people want to cook some foods. In addition, some references said that soy bean is good for a specific remedy for the proper functioning of the heart, liver, kidneys, stomach, and bowels, constipation, as a stimulant for the lungs, for eradication of poison from the system, improving the complexion by cleaning the skin of impurities, and stimulating the growth and appearance of the hair. Discussion: Comparing between soy bean, tofu and tofu flour which has difference amount of nutrients. For example energy 382 kcal, 79 kcal and 393 kcal respectively and also protein 30.2 kcal, 7.8 kcal, and 17.4 kcal. In addition, carbohydrate of soy pulp was high than soy bean and tofu (30.1 kcal). Finally, local should replace flour, rice and gelatin rice flour with tofu flour.

Keywords: tofu flour, protein, soy bean, school feeding

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Authors: Noor Akhmazillah Fauzi, Mohammed Mehdi Farid, Filipa V. Silva

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The aim of this paper is to investigate if different concentration of Manuka honey (as a model food) has a major influence on the inactivation of Saccharomyces cerevisiae (as the testing microorganism) after subjecting it to HPP. Honey samples with different sugar concentrations (20, 30, 40, 50, 60 and 70 °Brix) were prepared aseptically using sterilized distilled water. No dilution of honey was made for the 80 °Brix sample. For the 0 °Brix sample (control), sterilized distilled water was used. Thermal treatment at 55 °C for 10 min (conventionally applied in honey pasteurisation in industry) was carried out for comparison purpose. S. cerevisiae cell numbers in honey samples were established before and after each HPP and thermal treatment. The number of surviving cells was determined after a proper dilution of the untreated and treated samples by the viable plate count method. S. cerevisiae cells, in different honey concentrations (0 to 80 °Brix), subjected to 600 MPa (at ambient temperature) showed an increasing resistance to inactivation with °Brix. A significant correlation (p < 0.05) between cell reduction and °Brix was found. Cell reduction in high pressure-treated samples varied linearly with °Brix (R2 > 0.9), confirming that the baroprotective effect of the food is due to sugar content. This study has practical implications in establishing efficient process design for commercial manufacturing of high sugar food products and on the potential use of HPP for such products.

Keywords: high pressure processing, honey, Saccharomyces cerevisiae, °Brix

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Authors: Tom Turner

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The recent financial crisis in 2008 and the growing inequality in developed industrial societies would appear to present significant challenges to capitalism and the free market. Yet there have been few substantial mainstream political or economic challenges to the dominant capitalist and market paradigm to-date. There is no dearth of critical and theoretical (academic) analyses regarding the prevailing systems failures. Yet despite the growing inequality in the developed industrial societies and the financial crisis in 2008 few commentators have advocated the comprehensive socialization or state ownership of the means of production to our knowledge – a core principle of radical Marxism in the 19th and early part of the 20th century. Undoubtedly the experience in the Soviet Union and satellite countries in the 20th century has cast a dark shadow over the notion of centrally controlled economies and state ownership of the means of production. In this paper, we explore the history of a doctrine advocating the socialization or state ownership of the means of production that was central to Marxism and socialism generally. Indeed this doctrine provoked an intense and often acrimonious debate especially for left-wing parties throughout the 20th century. The debate within the political economy tradition has historically tended to divide into a radical and a revisionist approach to changing or reforming capitalism. The radical perspective views the conflict of interest between capital and labor as a persistent and insoluble feature of a capitalist society and advocates the public or state ownership of the means of production. Alternatively, the revisionist perspective focuses on issues of distribution rather than production and emphasizes the possibility of compromise between capital and labor in capitalist societies. Over the 20th century, the radical perspective has faded and even the social democratic revisionist tradition has declined in recent years. We conclude with the major challenges that confront both the radical and revisionist perspectives in the development of viable policy agendas in mature developed democratic societies. Additionally, we consider whether state ownership of the means of production still has relevance in the 21st century and to what extent state ownership is off the agenda as a political issue in the political mainstream in developed industrial societies. A central argument in the paper is that state ownership of the means of production is unlikely to feature as either a practical or theoretical solution to the problems of capitalism post the financial crisis among mainstream political parties of the left. Although the focus here is solely on the shifting views of the radical and revisionist socialist perspectives in the western European tradition the analysis has relevance for the wider socialist movement.

Keywords: sate ownership, ownership means of production, radicals, revisionists

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Authors: Ramesh Subramani, Mathivanan Narayanasamy, William Aalbersberg

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It is well accepted by last 35 years of research and on-going programmes that marine environment harbours abundant and unique biodiversity, which is currently playing as an important source in bioprospecting. It has become apparent that marine microorganisms are lead in the biodiscovery. Among marine organisms, actinobacteria are a target phylum for discovering novel antibiotics against increasing the multi-drug resistant human pathogens because of these taxa representing for novel genera and species. Marine actinomycetes are a proven source of new antibiotic leads and novel enzymes with important industrial applications. A total of 183 streptomycete and 25 non-streptomycete strains were isolated from different marine samples collected from north-eastern part of the Indian Ocean. Among them, 111 isolates displayed antibacterial activity against human pathogens and 151 exhibited antifungal activity against phytopathogens. Importantly, most of them produced various extracellular enzymes and 58 of them produced exopolysaccharides. Totally eight small bioactive compounds and a thermostable alkaline protease have been purified from a selected strain, Streptomyces fungicidicus. Besides, our on-going studies on non-streptomycete strains (rare actinomycetes) are most likely promising resource for new and unique compounds against current emerging drug-resistant pathogens. We have just recognised the chemical diversity in marine microorganisms. Therefore it is worthwhile to continue the exploration of marine microorganisms for new drug leads, novel enzymes and other bioprospecting research.

Keywords: bioactive compounds, industrial enzymes, marine actinobacteria, microbial metabolites, marine natural products

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Authors: Som Pal Baliyan

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Dairy enterprise has been a major source of employment and income generation in most of the economies worldwide. Botswana government has also identified dairy as one of the agricultural sectors towards diversification of the mineral dependent economy of the country. The huge gap between local demand and supply of milk and milk products indicated that there are not only constraints but also; opportunities exist in this sub sector of agriculture. Therefore, this study was an attempt to identify constraints and opportunities in dairy production industry in Botswana. The possible ways to mitigate the constraints were also identified. The findings should assist the stakeholders especially, policy makers in the formulation of effective policies for the growth of dairy sector in the country. This quantitative study adopted a survey research design. A final survey followed by a pilot survey was conducted for data collection. The purpose of the pilot survey was to collect basic information on the nature and extent of the constraints, opportunities and ways to mitigate the constraints in dairy production. Based on the information from pilot survey, a four point Likert’s scale type questionnaire was constructed, validated and tested for its reliability. The data for the final survey were collected from purposively selected twenty five dairy farms. The descriptive statistical tools were employed to analyze data. Among the twelve constraints identified; high feed costs, feed shortage and availability, lack of technical support, lack of skilled manpower, high prevalence of pests and diseases and, lack of dairy related technologies were the six major constraints in dairy production. Grain feed production, roughage feed production, manufacturing of dairy feed, establishment of milk processing industry and, development of transportation systems were the five major opportunities among the eight opportunities identified. Increasing production of animal feed locally, increasing roughage feed production locally, provision of subsidy on animal feed, easy access to sufficient financial support, training of the farmers and, effective control of pests and diseases were identified as the six major ways to mitigate the constraints. It was recommended that the identified constraints and opportunities as well as the ways to mitigate the constraints need to be carefully considered by the stakeholders especially, policy makers during the formulation and implementation of the policies for the development of dairy sector in Botswana.

Keywords: dairy enterprise, milk production, opportunities, production constraints

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Authors: Paulette Henry

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If Caribbean Universities wish to remain sustainable in the global education market they must meet the new demands of the 21st Centuries learners. This means preparing the teaching and learning environment with the human and material and resources so that the University can blossom out into the entrepreneurial University. The entrepreneurial University prepares the learner to become a global citizen, one who is innovative and a critical thinker and has the competencies to create jobs. Entrepreneurship education provides more equitable access to university education building capacity for the local and global economy. The entrepreneurial thinking, the mindset, must therefore be among academic and support staff as well as students. In developing countries where resources are scarce, Universities are grappling with a myriad of financial and non-financial issues. These include increasing costs, Union demands for increased remuneration for staff and reduced subvention from governments which has become the norm. In addition, there is the political pressure against increasing tuition fees and the perceptions on the moral responsibilities of universities in national development. The question is how do small universities carve out their niche, meet both political and consumer demands for a high quality, low lost education, fulfil their development mandate and still remain not only viable but competitive. Themes which are central to this discourse on the transitions necessary for the entrepreneurial university are leadership, governance and staff well-being. This paper therefore presents a case study of a Caribbean University to show how transformational leadership and the change management framework propels change towards an entrepreneurial institution seeking to have a competitive advantage despite its low resourced context. Important to this discourse are the transformational approaches used by the University to prepare staff to move from their traditional psyche to embracing an entrepreneurial mindset whilst equipping students within the same mode to become work ready and creative global citizens. Using the mixed methods approach, opinions were garnered from both members of the University community as well as external stakeholder groups on their perception of the role of the University in the business arena and as a primary stakeholder in national development. One of the critical concepts emanating from the discourse was the need to change the mindset of the those in university governance as well as how national stakeholders engage the university. This paper shows how multiple non-financial factors can contribute to change. A combination of transformational and servant leadership, strengthened institutional structures and developing new ones, rebuilding institutional trust and pride have been among the strategies employed within the change management framework. The university is no longer limited by borders but through international linkages has transcended into a transnational stakeholder.

Keywords: competitiveness, context, entrepreneurial, leadership

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Authors: Nadia Miranda Lorick, Neela Badrie, Marsha Singh

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Cassava (Manihot esculenta, Crantz) which is also known as ‘yucca’ or ‘manioc’ has been acknowledged as a millennium crop which has been utilized for food security purposes. The crop provides considerable amount of energy. The aim of the study was to assess consumer groups of both ‘fresh’ and ‘frozen’ in terms of their perceptions toward the quality and safety attributes of frozen cassava. The questionnaire included four sections: consumer demographics, consumer perceptions on quality attributes of ‘frozen’ cassava, consumer knowledge, awareness and attitudes toward food safety of ‘frozen’ cassava and consumer suggestions toward the improvement of frozen cassava. A face-to-face questionnaire was administered to 200 consumers of cassava between April and May 2016. The criteria for inclusion in the survey were that they must be 15 years and over and consumer of cassava. The sections of the questionnaire included demographics of respondents, consumer perception on quality and safety attributes of cassava and suggestions for the improvement of the value-added product. The data was analysed by descriptive and chi-square using SPSS as well as qualitative information was captured. Only 17% of respondents purchased frozen cassava and this was significantly (P<0.05) associated to income. Some (15%) of fresh cassava purchasers had never heard of frozen cassava products and 7.5% o perceived that these products were unhealthy for consumption. More than half (51.3%) of the consumers (all from the ‘fresh’ cassava group) believed that there were ‘no toxins’ within cassava. The ‘frozen’ cassava products were valued for convenience but purchasers were least satisfied with ‘value for money’ (50%), ‘product safety’ (50%) and ‘colour’ (52.9%). Cassava purchasers demonstrated highest dissatisfaction levels with the quality attribute: value for money (6.6%, 11.8%) respectively. The most predominant area outlined by respondents for frozen cassava improvement was promotion /advertising/education (23%). The ‘frozen’ cassava purchasers were ‘least satisfied’ thus most concern that clean knives and clean surface would not be used agro- processing. Fresh cassava purchasers were comparatively more knowledgeable on the potential existence of naturally occurring toxins in cassava, however with 1% respondents being able to specifically identify the toxin as ‘cyanide’. Dangerous preservatives (31%), poor hygiene (30%) and chemicals from the packaging (11%) were identified as some sources of contamination of ‘frozen’ cassava. Purchasers of frozen cassava indicated that the information on packaging label was unclear (P<0.01) when compared to ‘fresh’ cassava consumers.

Keywords: consumer satisfaction, convenience, cyanide toxin, product safety, price, label

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Authors: Siddhartha Paul, Debabrata Das

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Closed-loop supply chain (CLSC) management focuses on integrating forward and reverse flow of material as well as information to maximize value creation over the entire life-cycle of a product. Bullwhip effect in supply chain management refers to the phenomenon where a small variation in customers’ demand results in larger variation of orders at the upstream levels of supply chain. Since the quality and quantity of products returned to the collection centers (as a part of reverse logistics process) are uncertain, bullwhip effect is inevitable in CLSC. Therefore, in the present study, first, through an extensive literature survey, we identify all the important factors related to forward as well as reverse supply chain which causes bullwhip effect in CLSC. Second, we develop a system dynamics model to study the interrelationship among the factors and their effect on the performance of overall CLSC. Finally, the results of the simulation study suggest that demand forecasting, lead times, information sharing, inventory and work in progress adjustment rate, supply shortages, batch ordering, price variations, erratic human behavior, parameter correcting, delivery time delays, return rate of used products, manufacturing and remanufacturing capacity constraints are the important factors which have a significant influence on system’s performance, specifically on bullwhip effect in a CLSC.

Keywords: bullwhip effect, closed-loop supply chain, system dynamics, variance ratio

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Authors: Zelin Zhou, Timothy Langrish

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Spray drying is the final stage of milk powder production. Traditionally, the quality of spray-dried milk powders has mainly been assessed using their physical properties, such as their moisture contents, while chemical changes occurring during the spray drying process have often been ignored. With growing concerns about food quality, it is necessary to establish a better understanding of heat-induced degradation due to the spray-drying process of skim milk. In this study, the extent of thermal degradation for skim milk in a pilot-scale spray dryer has been investigated using different inlet gas temperatures. The extent of heat-induced damage has been measured by the formation of advanced Maillard reaction products and the loss of soluble proteins at pH 4.6 as assessed by a fluorometric method. A significant increase in the extent of thermal degradation has been found when the inlet gas temperature increased from 170°C to 190°C, suggesting protein unfolding may play an important role in the kinetics of heat-induced degradation for milk in spray dryers. Colour changes of the spray-dried skim milk powders have also been analysed using a standard lighting box. Colourimetric analysis results were expressed in CIELAB colour space with the use of the E index (E) and the Chroma (C) for measuring the difference between colours and the intensity of the colours. A strong linear correlation between the colour intensity of the spray-dried skim milk powders and the formation of advanced Maillard reaction products has been observed.

Keywords: colour formation, Maillard reactions, spray drying, skim milk powder

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Authors: Ju Shan Lin

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The challenges for traditional industries in Taiwan the past few years are the changes of overall domestic and foreign industry structure, the entrepreneurs not only need to keep on improving their profession skills but also continuously research and develop new products. It is also necessary for the all traditional industries to keep updating the business strategy, let the enterprises continue to progress, and won't be easily replaced by the other industries. The traditional industry in Taiwan attach great importance to the field of enterprises upgrading and innovation in recent years, by the enterprise innovation and transformation can enhance the overall business situation also enable them to obtain more additional profits than in the past. Except the original industry structure's need to transform and upgrade, the brand's business and marketing strategy are also essential. This study will take a certain plastic company as case analysis, for the brand promotion of traditional industries, brand values and business innovation model for further exploration. It will also be mentioned that the other traditional industries cases which were already achieved success on the enterprise's upgrading and innovation, at the same time, the difficulties which they faced with and the way they overcome will be explored as well. This study will use the case study method combined with expert interviews to discuss and analyze this certain plastic company's current business situation, the existing products and the possible trends in the future. Looking forward to providing an innovative business model that will enable this plastic company to upgrade its corporate image and the brand could transform successfully.

Keywords: brand marketing strategy, enterprise upgrade, industrial transformation, traditional industry

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Authors: M. Murmu, Govardhan, J. Satya Eswari

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Concrete is the most common and widely used building material. Concrete is basically made of aggregates, both fine and coarse, glued by a cement paste which is made of cement and water. Each one of these constituents of concrete has a negative environmental impact and gives rise to different sustainability issues. The current concrete construction practice is unsustainable because, not only it consumes enormous quantities of stones, sand, and drinking water, but also one billion tons a year of cement, which is not an environment friendly material. Preventing the reduction of natural resources and enhancing the usage of waste materials has become a challenge to the scientist and engineers. A number of studies have been conducted concerning the protection of natural resources, prevention of environmental pollution and contribution to the economy by using this waste material. This paper outlines the influence of Ground Granulated Blast furnace Slag (GGBS) as partial replacement of fine aggregate on mechanical properties of concrete. The strength of concrete is determined having OPC binder, replaced the fine aggregate with15%, 30%, 45% respectively. For this purpose, characteristics concrete mix of M25 with partial replacement of cement with GGBS is used and the strength of concrete cubes and cylinder have determined. The strength of concrete specimens has been compared with the reference specimen. Also X-ray diffraction (XRD) and scanning electron microscope (SEM) tests have been performed to examine the hydration products and the microstructure of the tested specimens. A correlation has been established between the developmental strength concrete with and without GGBS through analysis of hydration products and the microstructure.

Keywords: GGBS, sand, concrete, workability

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