Search results for: business strategy
4516 A Review of the Antecedents and Consequences of Employee Engagementc
Authors: Ibrahim Hamidu Magem
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Employee engagement has continued to gain popularity among practitioners, consultants and academicians recent years. This is due to the fact that the engaged employees are central to organizational success in today’s highly competitive and rapidly changing business environment. Employee engagement depicts a situation whereby employee’s harnessed themselves to their work roles. The importance of employee engagement to organizations cannot be overemphasized in today’s rapidly changing business environment. Organizations both large and small are constantly striving to improve their performance, retain employees, reduce absenteeism, and create loyal customers among others. To be able to achieve these organizations need a team of highly engaged employees. In line with this, the study attempts to provide a valuable framework for understanding the antecedents and consequences of employee engagement in organizations. The paper categorizes the antecedents of employee engagement into individual and organizational factors which it is assumed that the existence of such factors could result into engaged employees that will be of benefit to organizations. Therefore, it is recommended that organizations should revisit and redesign its employee engagement system to enable them attain their organizational goals and objectives. In addition, organizations should note that engagement is personal but organizational engagement programmes should be about everyone in the organization. The findings from this paper adds to existing studies about employee engagement and also provide awareness to academics and practitioners about the importance of employee engagement to improve organizations efficiency and effectiveness, as well as to impact to overall firm performance.Keywords: antecedents, employee engagement, job involvement, organization
Procedia PDF Downloads 2604515 Strategic Development of Urban Environmental Management Base on Good Governance - Case study of (Waste Management of Tehran)
Authors: A. Farhad Sadri, B. Ali Farhadi, C. Nasim Shalamzari
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Waste management is a principle of urban and environmental governance. Waste management in Tehran metropolitan requires good strategies for better governance. Using of good urban governance principles together with eight main indexes can be an appropriate base for this aim. One of the reasonable tools in this field is usage of SWOT methods which provides possibility of comparing the opportunities, threats, weaknesses, and strengths by using IFE and EFE matrixes. The results of the above matrixes, respectively 2.533 and 2.403, show that management system of Tehran metropolitan wastes has performed weak regarding to internal factors and has not have good performance regarding using the opportunities and dealing with threats. In this research, prioritizing and describing the real value of each 24 strategies in waste management in Tehran metropolitan have been surveyed considering good governance derived from Quantitative Strategic Planning Management (QSPM) by using Kolomogrof-Smirnoff by 1.549 and significance level of 0.073 in order to define normalization of final values and all of the strategies utilities and Variance Analysis of ANOVA has been calculated for all SWOT strategies. Duncan’s test results regarding four WT, ST, WO, and SO strategies show no significant difference. In addition to mean comparison by Duncan method in this research, LSD (Lowest Significant Difference test) has been used by probability of 5% and finally, 7 strategies and final model of Tehran metropolitan waste management strategy have been defined. Increasing the confidence of people with transparency of budget, developing and improving the legal structure (rule-oriented and law governance, more responsibility about requirements of private sectors, increasing recycling rates and real effective participation of people and NGOs to improve waste management (contribution) and etc, are main available strategies which have been achieved based on good urban governance management principles.Keywords: waste, strategy, environmental management, urban good governance, SWOT
Procedia PDF Downloads 3224514 A Holistic Approach of Cross-Cultural Management with Insight from Neuroscience
Authors: Mai Nguyen-Phuong-Mai
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This paper incorporates insight from various models, studies and disciplines to construct a framework called the Inverted Pyramid Model. It is argued that such a framework has several advantages: (1) it reduces the shortcomings of the problem-focused approach that dominates the mainstream theories of cross-cultural management. With contributing insight from neuroscience, it suggests that training in business cross-cultural awareness should start with potential synergy emerged from differences instead of the traditional approach that focuses on the liability of foreigners and negative consequences of cultural distance. (2) The framework supports a dynamic and holistic way of analyzing cultural diversity by analyzing four major cultural units (global, national, organizational and group culture). (3) The framework emphasizes the role of individuals –an aspect of culture that is often ignored or regarded as a non-issue in the traditional approach. It is based on the notion that people don’t do business with a country, but work (in)directly with a unique person. And it is at this individual level that culture is made, personally, dynamically, and contextually. Insight from neuroscience provides significant evidence that a person can develop a multicultural mind, confirm and contradict, follow and reshape a culture, even when (s)he was previously an outsider to this culture. With this insight, the paper proposes a revision of the old adage (Think global – Act local) and change it into Think global – Plan local – Act individual.Keywords: static–dynamic paradigm, cultural diversity, multicultural mind, neuroscience
Procedia PDF Downloads 1294513 Enhancing the Implementation Strategy of Simultaneous Operations (SIMOPS) for the Major Turnaround at Pertamina Plaju Refinery
Authors: Fahrur Rozi, Daniswara Krisna Prabatha, Latief Zulfikar Chusaini
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Amidst the backdrop of Pertamina Plaju Refinery, which stands as the oldest and historically less technologically advanced among Pertamina's refineries, lies a unique challenge. Originally integrating facilities established by Shell in 1904 and Stanvac (originally Standard Oil) in 1926, the primary challenge at Plaju Refinery does not solely revolve around complexity; instead, it lies in ensuring reliability, considering its operational history of over a century. After centuries of existence, Plaju Refinery has never undergone a comprehensive major turnaround encompassing all its units. The usual practice involves partial turnarounds that are sequentially conducted across its primary, secondary, and tertiary units (utilities and offsite). However, a significant shift is on the horizon. In the Q-IV of 2023, the refinery embarks on its first-ever major turnaround since its establishment. This decision was driven by the alignment of maintenance timelines across various units. Plaju Refinery's major turnaround was scheduled for October-November 2023, spanning 45 calendar days, with the objective of enhancing the operational reliability of all refinery units. The extensive job list for this turnaround encompasses 1583 tasks across 18 units/areas, involving approximately 9000 contracted workers. In this context, the Strategy of Simultaneous Operations (SIMOPS) execution emerges as a pivotal tool to optimize time efficiency and ensure safety. A Hazard Effect Management Process (HEMP) has been employed to assess the risk ratings of each task within the turnaround. Out of the tasks assessed, 22 are deemed high-risk and necessitate mitigation. The SIMOPS approach serves as a preventive measure against potential incidents. It is noteworthy that every turnaround period at Pertamina Plaju Refinery involves SIMOPS-related tasks. In this context, enhancing the implementation strategy of "Simultaneous Operations (SIMOPS)" becomes imperative to minimize the occurrence of incidents. At least four improvements have been introduced in the enhancement process for the major turnaround at Refinery Plaju. The first improvement involves conducting systematic risk assessment and potential hazard mitigation studies for SIMOPS tasks before task execution, as opposed to the previous on-site approach. The second improvement includes the completion of SIMOPS Job Mitigation and Work Matrices Sheets, which was often neglected in the past. The third improvement emphasizes comprehensive awareness to workers/contractors regarding potential hazards and mitigation strategies for SIMOPS tasks before and during the major turnaround. The final improvement is the introduction of a daily program for inspecting and observing work in progress for SIMOPS tasks. Prior to these improvements, there was no established program for monitoring ongoing activities related to SIMOPS tasks during the turnaround. This study elucidates the steps taken to enhance SIMOPS within Pertamina, drawing from the experiences of Plaju Refinery as a guide. A real actual case study will be provided from our experience in the operational unit. In conclusion, these efforts are essential for the success of the first-ever major turnaround at Plaju Refinery, with the SIMOPS strategy serving as a central component. Based on these experiences, enhancements have been made to Pertamina's official Internal Guidelines for Executing SIMOPS Risk Mitigation, benefiting all Pertamina units.Keywords: process safety management, turn around, oil refinery, risk assessment
Procedia PDF Downloads 744512 Simulated Translator-Client Relations in Translator Training: Translator Behavior around Risk Management
Authors: Maggie Hui
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Risk management is not a new concept; however, it is an uncharted area as applied to the translation process and translator training. Risk managers are responsible for managing risk, i.e. adopting strategies with the intention to minimize loss and maximize gains in spite of uncertainty. Which risk strategy to use often depends on the frequency of an event (i.e. probability) and the severity of its outcomes (i.e. impact). This is basically the way translation/localization project managers handle risk management. Although risk management could involve both positive and negative impacts, impact seems to be always negative in professional translators’ management models, e.g. how many days of project time are lost or how many clients are lost. However, for analysis of translation performance, the impact should be possibly positive (e.g. increased readability of the translation) or negative (e.g. loss of source-text information). In other words, the straight business model of risk management is not directly applicable to the study of risk management in the rendition process. This research aims to explore trainee translators’ risk managing while translating in a simulated setting that involves translator-client relations. A two-cycle experiment involving two roles, the translator and the simulated client, was carried out with a class of translation students to test the effects of the main variable of peer-group interaction. The researcher made use of a user-friendly screen-voice recording freeware to record subjects’ screen activities, including every word the translator typed and every change they made to the rendition, the websites they browsed and the reference tools they used, in addition to the verbalization of their thoughts throughout the process. The research observes the translation procedures subjects considered and finally adopted, and looks into the justifications for their procedures, in order to interpret their risk management. The qualitative and quantitative results of this study have some implications for translator training: (a) the experience of being a client seems to reinforce the translator’s risk aversion; (b) there is a wide gap between the translator’s internal risk management and their external presentation of risk; and (c) the use of role-playing simulation can empower students’ learning by enhancing their attitudinal or psycho-physiological competence, interpersonal competence and strategic competence.Keywords: risk management, role-playing simulation, translation pedagogy, translator-client relations
Procedia PDF Downloads 2614511 Strategies for Success: Strategic Thinking’s Critical Role in Entrepreneurial
Authors: Silvia Rahmita
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Entrepreneurial success is crucial for economic growth, competitiveness, and job creation, yet many entrepreneurs face failure due to various challenges. This paper explores the critical role of strategic thinking in mitigating entrepreneurial failure. Entrepreneurial competencies—encompassing knowledge, skills, and traits—are essential for creating and growing ventures. Despite these competencies, numerous entrepreneurs fail due to poor management, inadequate support, and ineffective policies. The paper categorizes entrepreneurial failures into financial, operational, market, product or service, strategic, leadership, legal, human capital, technological, and environmental failures. Each failure type can be addressed through strategic thinking, which involves foresight, balancing short-term and long-term goals, and hypothesis-driven processes. By integrating strategic thinking into their approach, entrepreneurs can enhance risk management, adapt to market changes, and sustain growth. This process involves setting clear goals, innovating products, and maintaining a competitive edge. Ultimately, strategic thinking provides a framework for proactive planning, adaptation, and continuous improvement, reducing the likelihood of failure and ensuring long-term success. Entrepreneurs who prioritize strategic thinking are better equipped to navigate the complexities of the business environment and achieve sustainable growth.Keywords: entrepreneurial failure, strategic thinking, risk management, business failure
Procedia PDF Downloads 404510 How Influencers Influence: The Effects of Social Media Influencers Influence on Purchase Intention and the Differences among Generation X and Millennials
Authors: Samatha Ss Sutton, Kaouther Kooli
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In recent years social media influences (SMI) have become integrated into many companies marketing strategies to create buzz, target new and younger markets and further expand social media coverage in business (Lim et al 2017). SMI’s can be defined as online personalities with a substantial number of followers, across one or more social media platforms, with influence on their followers (Lou and Yuan 2018). Recently expenditure on influencer marketing has increased exponentially becoming an important area for marketing opportunities and strategies in the future (Lou and Yuan 2018). In order to market products and brands effectively through SMI’s it is important for business to understand the attributes of SMI that effect purchase intention (Lim et al 2017) of their followers and whether or not these attributes vary across generations so to market effectively to their specific segment or target market. The present study involves quantitative research to understand the attributes by which influence differs across generations namely Generation X and Millennials and its effects on purchase intentions of these generational groups. A survey will be conducted using an online questionnaire. Structural Equation Modelling and Multi group analysis will be applied. The study provides insight to marketers/decision makers on how to use influencers accordingly with their target consumer.Keywords: social media marketing, social media influencers, attitude towards social media influencers, intention to purchase
Procedia PDF Downloads 1364509 Numerical Investigation of Turbulent Inflow Strategy in Wind Energy Applications
Authors: Arijit Saha, Hassan Kassem, Leo Hoening
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Ongoing climate change demands the increasing use of renewable energies. Wind energy plays an important role in this context since it can be applied almost everywhere in the world. To reduce the costs of wind turbines and to make them more competitive, simulations are very important since experiments are often too costly if at all possible. The wind turbine on a vast open area experiences the turbulence generated due to the atmosphere, so it was of utmost interest from this research point of view to generate the turbulence through various Inlet Turbulence Generation methods like Precursor cyclic and Kaimal Spectrum Exponential Coherence (KSEC) in the computational simulation domain. To be able to validate computational fluid dynamic simulations of wind turbines with the experimental data, it is crucial to set up the conditions in the simulation as close to reality as possible. This present work, therefore, aims at investigating the turbulent inflow strategy and boundary conditions of KSEC and providing a comparative analysis alongside the Precursor cyclic method for Large Eddy Simulation within the context of wind energy applications. For the generation of the turbulent box through KSEC method, firstly, the constrained data were collected from an auxiliary channel flow, and later processing was performed with the open-source tool PyconTurb, whereas for the precursor cyclic, only the data from the auxiliary channel were sufficient. The functionality of these methods was studied through various statistical properties such as variance, turbulent intensity, etc with respect to different Bulk Reynolds numbers, and a conclusion was drawn on the feasibility of KSEC method. Furthermore, it was found necessary to verify the obtained data with DNS case setup for its applicability to use it as a real field CFD simulation.Keywords: Inlet Turbulence Generation, CFD, precursor cyclic, KSEC, large Eddy simulation, PyconTurb
Procedia PDF Downloads 964508 Emotional Intelligence Training: Helping Non-Native Pre-Service EFL Teachers to Overcome Speaking Anxiety: The Case of Pre-Service Teachers of English, Algeria
Authors: Khiari Nor El Houda, Hiouani Amira Sarra
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Many EFL students with high capacities are hidden because they suffer from speaking anxiety (SA). Most of them find public speaking much demanding. They feel unable to communicate, they fear to make mistakes and they fear negative evaluation or being called on. With the growing number of the learners who suffer from foreign language speaking anxiety (FLSA), it is becoming increasingly difficult to ignore its harmful outcomes on their performance and success, especially during their first contact with the pupils, as they will be teaching in the near future. Different researchers suggested different ways to minimize the negative effects of FLSA. The present study sheds light on emotional intelligence skills training as an effective strategy not only to influence public speaking success but also to help pre-service EFL teachers lessen their speaking anxiety and eventually to prepare them for their professional career. A quasi-experiment was used in order to examine the research hypothesis. We worked with two groups of third-year EFL students at Oum El Bouaghi University. The Foreign Language Classroom Anxiety Scale (FLCAS) and the Emotional Quotient Inventory (EQ-i) were used to collect data about the participants’ FLSA and EI levels. The analysis of the data has yielded that the assumption that there is a negative correlation between EI and FLSA was statistically validated by the Pearson Correlation Test, concluding that, the more emotionally intelligent the individual is the less anxious s/he will be. In addition, the lack of amelioration in the results of the control group and the noteworthy improvement in the experimental group results led us to conclude that EI skills training was an effective strategy in minimizing the FLSA level and therefore, we confirmed our research hypothesis.Keywords: emotional intelligence, emotional intelligence skills training, EQ-I, FLCAS, foreign language speaking anxiety, pre-service EFL teachers
Procedia PDF Downloads 1404507 The Design and Implementation of an Enhanced 2D Mesh Switch
Authors: Manel Langar, Riad Bourguiba, Jaouhar Mouine
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In this paper, we propose the design and implementation of an enhanced wormhole virtual channel on chip router. It is a heart of a mesh NoC using the XY deterministic routing algorithm. It is characterized by its simple virtual channel allocation strategy which allows reducing area and complexity of connections without affecting the performance. We implemented our router on a Tezzaron process to validate its performances. This router is a basic element that will be used later to design a 3D mesh NoC.Keywords: NoC, mesh, router, 3D NoC
Procedia PDF Downloads 5684506 Assumption of Cognitive Goals in Science Learning
Authors: Mihail Calalb
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The aim of this research is to identify ways for achieving sustainable conceptual understanding within science lessons. For this purpose, a set of teaching and learning strategies, parts of the theory of visible teaching and learning (VTL), is studied. As a result, a new didactic approach named "learning by being" is proposed and its correlation with educational paradigms existing nowadays in science teaching domain is analysed. In the context of VTL the author describes the main strategies of "learning by being" such as guided self-scaffolding, structuring of information, and recurrent use of previous knowledge or help seeking. Due to the synergy effect of these learning strategies applied simultaneously in class, the impact factor of learning by being on cognitive achievement of students is up to 93 % (the benchmark level is equal to 40% when an experienced teacher applies permanently the same conventional strategy during two academic years). The key idea in "learning by being" is the assumption by the student of cognitive goals. From this perspective, the article discusses the role of student’s personal learning effort within several teaching strategies employed in VTL. The research results emphasize that three mandatory student – related moments are present in each constructivist teaching approach: a) students’ personal learning effort, b) student – teacher mutual feedback and c) metacognition. Thus, a successful educational strategy will target to achieve an involvement degree of students into the class process as high as possible in order to make them not only know the learning objectives but also to assume them. In this way, we come to the ownership of cognitive goals or students’ deep intrinsic motivation. A series of approaches are inherent to the students’ ownership of cognitive goals: independent research (with an impact factor on cognitive achievement equal to 83% according to the results of VTL); knowledge of success criteria (impact factor – 113%); ability to reveal similarities and patterns (impact factor – 132%). Although it is generally accepted that the school is a public service, nonetheless it does not belong to entertainment industry and in most of cases the education declared as student – centered actually hides the central role of the teacher. Even if there is a proliferation of constructivist concepts, mainly at the level of science education research, we have to underline that conventional or frontal teaching, would never disappear. Research results show that no modern method can replace an experienced teacher with strong pedagogical content knowledge. Such a teacher will inspire and motivate his/her students to love and learn physics. The teacher is precisely the condensation point for an efficient didactic strategy – be it constructivist or conventional. In this way, we could speak about "hybridized teaching" where both the student and the teacher have their share of responsibility. In conclusion, the core of "learning by being" approach is guided learning effort that corresponds to the notion of teacher–student harmonic oscillator, when both things – guidance from teacher and student’s effort – are equally important.Keywords: conceptual understanding, learning by being, ownership of cognitive goals, science learning
Procedia PDF Downloads 1674505 Regeneration Study on the Athens City Center: Transformation of the Historical Triangle to “Low Pollution and Restricted Vehicle Traffic Zone”
Authors: Chondrogianni Dimitra, Yorgos J. Stephanedes
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The impact of the economic crisis, coupled with the aging of the city's old core, is reflected in central Athens. Public and private users, residents, employees, visitors desire the quality upgrading of abandoned buildings and public spaces through environmental upgrading and sustainable mobility, and promotion of the international metropolitan character of the city. In the study, a strategy for reshaping the character and function of the historic Athenian triangle is proposed, aiming at its economic, environmental, and social sustainable development through feasible, meaningful, and non-landscaping solutions of low cost and high positive impact. Sustainable mobility is the main principle in re-planning the study area and transforming it into a “Low Pollution and Limited Vehicle Traffic Zone” is the main strategy. Τhe proposed measures include the development of pedestrian mobility networks by expanding the pedestrian roads and limited-traffic routes, of bicycle networks based on the approved Metropolitan Bicycle Route of Athens, of public transportation networks with new lines of electric mini-buses, and of new regulations for vehicle mobility in the historic triangle. In addition, complementary actions are proposed regarding the provision of Wi-Fi on fixed track media, development of applications that facilitate combined travel and provide real-time data, integration of micromobility (roller skates, Segway, Hoverboard), and its enhancement as a flexible means of personal mobility, and development of car-sharing, ride-sharing and dynamic carpooling initiatives.Keywords: regeneration plans, sustainable mobility, environmental upgrading, athens historical triangle
Procedia PDF Downloads 1674504 Collaboration between Grower and Research Organisations as a Mechanism to Improve Water Efficiency in Irrigated Agriculture
Authors: Sarah J. C. Slabbert
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The uptake of research as part of the diffusion or adoption of innovation by practitioners, whether individuals or organisations, has been a popular topic in agricultural development studies for many decades. In the classical, linear model of innovation theory, the innovation originates from an expert source such as a state-supported research organisation or academic institution. The changing context of agriculture led to the development of the agricultural innovation systems model, which recognizes innovation as a complex interaction between individuals and organisations, which include private industry and collective action organisations. In terms of this model, an innovation can be developed and adopted without any input or intervention from a state or parastatal research organisation. This evolution in the diffusion of agricultural innovation has put forward new challenges for state or parastatal research organisations, which have to demonstrate the impact of their research to the legislature or a regulatory authority: Unless the organisation and the research it produces cross the knowledge paths of the intended audience, there will be no awareness, no uptake and certainly no impact. It is therefore critical for such a research organisation to base its communication strategy on a thorough understanding of the knowledge needs, information sources and knowledge networks of the intended target audience. In 2016, the South African Water Research Commission (WRC) commissioned a study to investigate the knowledge needs, information sources and knowledge networks of Water User Associations and commercial irrigators with the aim of improving uptake of its research on efficient water use in irrigation. The first phase of the study comprised face-to-face interviews with the CEOs and Board Chairs of four Water User Associations along the Orange River in South Africa, and 36 commercial irrigation farmers from the same four irrigation schemes. Intermediaries who act as knowledge conduits to the Water User Associations and the irrigators were identified and 20 of them were subsequently interviewed telephonically. The study found that irrigators interact regularly with grower organisations such as SATI (South African Table Grape Industry) and SAPPA (South African Pecan Nut Association) and that they perceive these organisations as credible, trustworthy and reliable, within their limitations. State and parastatal research institutions, on the other hand, are associated with a range of negative attributes. As a result, the awareness of, and interest in, the WRC and its research on water use efficiency in irrigated agriculture are low. The findings suggest that a communication strategy that involves collaboration with these grower organisations would empower the WRC to participate much more efficiently and with greater impact in agricultural innovation networks. The paper will elaborate on the findings and discuss partnering frameworks and opportunities to manage perceptions and uptake.Keywords: agricultural innovation systems, communication strategy, diffusion of innovation, irrigated agriculture, knowledge paths, research organisations, target audiences, water use efficiency
Procedia PDF Downloads 1134503 Communication Styles of Business Students: A Comparison of Four National Cultures
Authors: Tiina Brandt, Isaac Wanasika
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Culturally diverse global companies need to understand cultural differences between leaders and employees from different backgrounds. Communication is culturally contingent and has a significant impact on effective execution of leadership goals. The awareness of cultural variations related to communication and interactions will help leaders modify their own behavior, and consequently improve the execution of goals and avoid unnecessary faux pas. Our focus is on young adults that have experienced cultural integration, culturally diverse surroundings in schools and universities, and cultural travels. Our central research problem is to understand the impact of different national cultures on communication. We focus on four countries with distinct national cultures and spatial distribution. The countries are Finland, Indonesia, Russia and USA. Our sample is based on business students (n = 225) from various backgrounds in the four countries. Their responses of communication and leadership styles were analyzed using ANOVA and post-hoc test. Results indicate that culture impacts on communication behavior. Even young culturally-exposed adults with cultural awareness and experience demonstrate cultural differences in their behavior. Apparently, culture is a deeply seated trait that cannot be completely neutralized by environmental variables. Our study offers valuable input for leadership training programs and for expatriates when recognizing specific differences on leaders’ behavior due to culture.Keywords: communication, culture, interaction, leadership
Procedia PDF Downloads 1134502 Female Entrepreneurship in Egypt: Barriers and Challenges in the Aftermath of the Arab Spring
Authors: Kate Ebere Maduforo
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Examining the constraints faced by female entrepreneurs is an important subject which most literature on female entrepreneurship is centered on. However, the majority of the existing literature has focused on studying female entrepreneurs in developed societies. Recently, a sense of urgency that has emerged in trying to understand the challenges and motivations of female entrepreneurs in developing countries. The arousal of such interest has been attributed to women entrepreneurs in developing countries being identified as catalysts of economic development at a national level and champions of poverty eradication at the domestic level. This paper, therefore, examines the peculiar constraints faced by women-owned businesses in the mist of political chaos and instability. In this case, the issues experienced by female entrepreneurs in Egypt during the aftermath of the Arab Spring is the focus. Using the logit and probit regression models, data from the World Bank Middle East North Africa Enterprise Survey (MENA ES) are analyzed. The results identified that female entrepreneurs still lack business funding through financial institutions, but get significant funding assistance from family, friends, and money lenders. In addition, women-owned businesses promote and hire mostly women. Female entrepreneurs showed a preference for an impartial judicial system as a contributor to business growth.Keywords: female entrepreneurship, development, Middle East, developing countries
Procedia PDF Downloads 1244501 Geometric Imperfections in Lattice Structures: A Simulation Strategy to Predict Strength Variability
Authors: Xavier Lorang, Ahmadali Tahmasebimoradi, Chetra Mang, Sylvain Girard
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The additive manufacturing processes (e.g. selective laser melting) allow us to produce lattice structures which have less weight, higher impact absorption capacity, and better thermal exchange property compared to the classical structures. Unfortunately, geometric imperfections (defects) in the lattice structures are by-products results of the manufacturing process. These imperfections decrease the lifetime and the strength of the lattice structures and alternate their mechanical responses. The objective of the paper is to present a simulation strategy which allows us to take into account the effect of the geometric imperfections on the mechanical response of the lattice structure. In the first part, an identification method of geometric imperfection parameters of the lattice structure based on point clouds is presented. These point clouds are based on tomography measurements. The point clouds are fed into the platform LATANA (LATtice ANAlysis) developed by IRT-SystemX to characterize the geometric imperfections. This is done by projecting the point clouds of each microbeam along the beam axis onto a 2D surface. Then, by fitting an ellipse to the 2D projections of the points, the geometric imperfections are characterized by introducing three parameters of an ellipse; semi-major/minor axes and angle of rotation. With regard to the calculated parameters of the microbeam geometric imperfections, a statistical analysis is carried out to determine a probability density law based on a statistical hypothesis. The microbeam samples are randomly drawn from the density law and are used to generate lattice structures. In the second part, a finite element model for the lattice structure with the simplified geometric imperfections (ellipse parameters) is presented. This numerical model is used to simulate the generated lattice structures. The propagation of the uncertainties of geometric imperfections is shown through the distribution of the computed mechanical responses of the lattice structures.Keywords: additive manufacturing, finite element model, geometric imperfections, lattice structures, propagation of uncertainty
Procedia PDF Downloads 1874500 A Novel Epitope Prediction for Vaccine Designing against Ebola Viral Envelope Proteins
Authors: Manju Kanu, Subrata Sinha, Surabhi Johari
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Viral proteins of Ebola viruses belong to one of the best studied viruses; however no effective prevention against EBOV has been developed. Epitope-based vaccines provide a new strategy for prophylactic and therapeutic application of pathogen-specific immunity. A critical requirement of this strategy is the identification and selection of T-cell epitopes that act as vaccine targets. This study describes current methodologies for the selection process, with Ebola virus as a model system. Hence great challenge in the field of ebola virus research is to design universal vaccine. A combination of publicly available bioinformatics algorithms and computational tools are used to screen and select antigen sequences as potential T-cell epitopes of supertypes Human Leukocyte Antigen (HLA) alleles. MUSCLE and MOTIF tools were used to find out most conserved peptide sequences of viral proteins. Immunoinformatics tools were used for prediction of immunogenic peptides of viral proteins in zaire strains of Ebola virus. Putative epitopes for viral proteins (VP) were predicted from conserved peptide sequences of VP. Three tools NetCTL 1.2, BIMAS and Syfpeithi were used to predict the Class I putative epitopes while three tools, ProPred, IEDB-SMM-align and NetMHCII 2.2 were used to predict the Class II putative epitopes. B cell epitopes were predicted by BCPREDS 1.0. Immunogenic peptides were identified and selected manually by putative epitopes predicted from online tools individually for both MHC classes. Finally sequences of predicted peptides for both MHC classes were looked for common region which was selected as common immunogenic peptide. The immunogenic peptides were found for viral proteins of Ebola virus: epitopes FLESGAVKY, SSLAKHGEY. These predicted peptides could be promising candidates to be used as target for vaccine design.Keywords: epitope, b cell, immunogenicity, ebola
Procedia PDF Downloads 3144499 A Concept Study to Assist Non-Profit Organizations to Better Target Developing Countries
Authors: Malek Makki
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The main purpose of this research study is to assist non-profit organizations (NPOs) to better segment a group of least developing countries and to optimally target the most needier areas, so that the provided aids make positive and lasting differences. We applied international marketing and strategy approaches to segment a sub-group of candidates among a group of 151 countries identified by the UN-G77 list, and furthermore, we point out the areas of priorities. We use reliable and well known criteria on the basis of economics, geography, demography and behavioral. These criteria can be objectively estimated and updated so that a follow-up can be performed to measure the outcomes of any program. We selected 12 socio-economic criteria that complement each other: GDP per capita, GDP growth, industry value added, export per capita, fragile state index, corruption perceived index, environment protection index, ease of doing business index, global competitiveness index, Internet use, public spending on education, and employment rate. A weight was attributed to each variable to highlight the relative importance of each criterion within the country. Care was taken to collect the most recent available data from trusted well-known international organizations (IMF, WB, WEF, and WTO). Construct of equivalence was carried out to compare the same variables across countries. The combination of all these weighted estimated criteria provides us with a global index that represents the level of development per country. An absolute index that combines wars and risks was introduced to exclude or include a country on the basis of conflicts and a collapsing state. The final step applied to the included countries consists of a benchmarking method to select the segment of countries and the percentile of each criterion. The results of this study allowed us to exclude 16 countries for risks and security. We also excluded four countries because they lack reliable and complete data. The other countries were classified per percentile thru their global index, and we identified the needier and the areas where aids are highly required to help any NPO to prioritize the area of implementation. This new concept is based on defined, actionable, accessible and accurate variables by which NPO can implement their program and it can be extended to profit companies to perform their corporate social responsibility acts.Keywords: developing countries, international marketing, non-profit organization, segmentation
Procedia PDF Downloads 3024498 Use of a Business Intelligence Software for Interactive Visualization of Data on the Swiss Elite Sports System
Authors: Corinne Zurmuehle, Andreas Christoph Weber
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In 2019, the Swiss Federal Institute of Sport Magglingen (SFISM) conducted a mixed-methods study on the Swiss elite sports system, which yielded a large quantity of research data. In a quantitative online survey, 1151 elite sports athletes, 542 coaches, and 102 Performance Directors of national sports federations (NF) have submitted their perceptions of the national support measures of the Swiss elite sports system. These data provide an essential database for the further development of the Swiss elite sports system. The results were published in a report presenting the results divided into 40 Olympic summer and 14 winter sports (Olympic classification). The authors of this paper assume that, in practice, this division is too unspecific to assess where further measures would be needed. The aim of this paper is to find appropriate parameters for data visualization in order to identify disparities in sports promotion that allow an assessment of where further interventions by Swiss Olympic (NF umbrella organization) are required. Method: First, the variable 'salary earned from sport' was defined as a variable to measure the impact of elite sports promotion. This variable was chosen as a measure as it represents an important indicator for the professionalization of elite athletes and therefore reflects national level sports promotion measures applied by Swiss Olympic. Afterwards, the variable salary was tested with regard to the correlation between Olympic classification [a], calculating the Eta coefficient. To estimate the appropriate parameters for data visualization, the correlation between salary and four further parameters was analyzed by calculating the Eta coefficient: [a] sport; [b] prioritization (from 1 to 5) of the sports by Swiss Olympic; [c] gender; [d] employment level in sports. Results & Discussion: The analyses reveal a very small correlation between salary and Olympic classification (ɳ² = .011, p = .005). Gender demonstrates an even small correlation (ɳ² = .006, p = .014). The parameter prioritization was correlating with small effect (ɳ² = .017, p = .001) as did employment level (ɳ² = .028, p < .001). The highest correlation was identified by the parameter sport with a moderate effect (ɳ² = .075, p = .047). The analyses show that the disparities in sports promotion cannot be determined by a particular parameter but presumably explained by a combination of several parameters. We argue that the possibility of combining parameters for data visualization should be enabled when the analysis is provided to Swiss Olympic for further strategic decision-making. However, the inclusion of multiple parameters massively multiplies the number of graphs and is therefore not suitable for practical use. Therefore, we suggest to apply interactive dashboards for data visualization using Business Intelligence Software. Practical & Theoretical Contribution: This contribution provides the first attempt to use Business Intelligence Software for strategic decision-making in national level sports regarding the prioritization of national resources for sports and athletes. This allows to set specific parameters with a significant effect as filters. By using filters, parameters can be combined and compared against each other and set individually for each strategic decision.Keywords: data visualization, business intelligence, Swiss elite sports system, strategic decision-making
Procedia PDF Downloads 904497 The Diverse and Flexible Coping Strategies Simulation for Maanshan Nuclear Power Plant
Authors: Chin-Hsien Yeh, Shao-Wen Chen, Wen-Shu Huang, Chun-Fu Huang, Jong-Rong Wang, Jung-Hua Yang, Yuh-Ming Ferng, Chunkuan Shih
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In this research, a Fukushima-like conditions is simulated with TRACE and RELAP5. Fukushima Daiichi Nuclear Power Plant (NPP) occurred the disaster which caused by the earthquake and tsunami. This disaster caused extended loss of all AC power (ELAP). Hence, loss of ultimate heat sink (LUHS) happened finally. In order to handle Fukushima-like conditions, Taiwan Atomic Energy Council (AEC) commanded that Taiwan Power Company should propose strategies to ensure the nuclear power plant safety. One of the diverse and flexible coping strategies (FLEX) is a different water injection strategy. It can execute core injection at 20 Kg/cm2 without depressurization. In this study, TRACE and RELAP5 were used to simulate Maanshan nuclear power plant, which is a three loops PWR in Taiwan, under Fukushima-like conditions and make sure the success criteria of FLEX. Reducing core cooling ability is due to failure of emergency core cooling system (ECCS) in extended loss of all AC power situation. The core water level continues to decline because of the seal leakage, and then FLEX is used to save the core water level and make fuel rods covered by water. The result shows that this mitigation strategy can cool the reactor pressure vessel (RPV) as soon as possible under Fukushima-like conditions, and keep the core water level higher than Top of Active Fuel (TAF). The FLEX can ensure the peak cladding temperature (PCT) below than the criteria 1088.7 K. Finally, the FLEX can provide protection for nuclear power plant and make plant safety.Keywords: TRACE, RELAP5/MOD3.3, ELAP, FLEX
Procedia PDF Downloads 2514496 Decision Framework for Cross-Border Railway Infrastructure Projects
Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki
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Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in decision process and –many times- the investment and business risks are high. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analyzed. Adopting the on system of system methodological approach, the decision making framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey and Bulgaria.Keywords: decision making, system of system, cross-border, infrastructure project
Procedia PDF Downloads 3144495 Micro Celebrities in Social Media Instagram and Their Personal Influence in Business Perspective
Authors: Yoga Maulana Putra, Herry Hudrasyah
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The Internet has now become an important part of human life; it can be accessed through a computer or even a smartphone almost anywhere and anytime. The Internet has created many social media such as Facebook, Twitter, and Instagram. Instagram has been acquired by Facebook in 2012. Since then, Instagram is growing fast. And now, Instagram is transforming from photo-sharing social media into business tools. As the result, some new behavior has been discovered. Some of Instagram user is becoming popular. These people also being called minor celebrity and they are also being used as marketing tools by many companies to influencing or promoting their product or service. This minor celebrity is existing because of their behavior in using Instagram. The company is using the personal influence of the minor celebrity to promoting and influencing their product or service, and the minor celebrity gets paid as much as their rate card. And their rate card based on their followers and insight. This research is using a qualitative method. An interview is being done to 6 minor celebrities from many different categories such as photographer, travel blogger, lifestyle, food blogger, fashion, and healthcare. Theory of reasoned behavior is being used as the grounded theory to discover the reason for their behavior and personal influence to describe their way to influencing people. The result of the interview is most of the minor celebrities is influenced by their friend’s circle in the process of using Instagram. They also had a different way to use their personal influence to affect their followers when the company employs them.Keywords: humanities and social sciences, Instagram, minor celebrity, social media
Procedia PDF Downloads 1664494 Future Design and Innovative Economic Models for Futuristic Markets in Developing Countries
Authors: Nessreen Y. Ibrahim
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Designing the future according to realistic analytical study for the futuristic market needs can be a milestone strategy to make a huge improvement in developing countries economics. In developing countries, access to high technology and latest science approaches is very limited. The financial problems in low and medium income countries have negative effects on the kind and quality of imported new technologies and application for their markets. Thus, there is a strong need for shifting paradigm thinking in the design process to improve and evolve their development strategy. This paper discusses future possibilities in developing countries, and how they can design their own future according to specific future models FDM (Future Design Models), which established to solve certain economical problems, as well as political and cultural conflicts. FDM is strategic thinking framework provides an improvement in both content and process. The content includes; beliefs, values, mission, purpose, conceptual frameworks, research, and practice, while the process includes; design methodology, design systems, and design managements tools. In this paper the main objective was building an innovative economic model to design a chosen possible futuristic scenario; by understanding the market future needs, analyze real world setting, solve the model questions by future driven design, and finally interpret the results, to discuss to what extent the results can be transferred to the real world. The paper discusses Egypt as a potential case study. Since, Egypt has highly complex economical problems, extra-dynamic political factors, and very rich cultural aspects; we considered Egypt is a very challenging example for applying FDM. The paper results recommended using FDM numerical modeling as a starting point to design the future.Keywords: developing countries, economic models, future design, possible futures
Procedia PDF Downloads 2674493 In Search of Innovation: Exploring the Dynamics of Innovation
Authors: Michal Lysek, Mike Danilovic, Jasmine Lihua Liu
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HMS Industrial Networks AB has been recognized as one of the most innovative companies in the industrial communication industry worldwide. The creation of their Anybus innovation during the 1990s contributed considerably to the company’s success. From inception, HMS’ employees were innovating for the purpose of creating new business (the creation phase). After the Anybus innovation, they began the process of internationalization (the commercialization phase), which in turn led them to concentrate on cost reduction, product quality, delivery precision, operational efficiency, and increasing growth (the growth phase). As a result of this transformation, performing new radical innovations have become more complicated. The purpose of our research was to explore the dynamics of innovation at HMS from the aspect of key actors, activities, and events, over the three phases, in order to understand what led to the creation of their Anybus innovation, and why it has become increasingly challenging for HMS to create new radical innovations for the future. Our research methodology was based on a longitudinal, retrospective study from the inception of HMS in 1988 to 2014, a single case study inspired by the grounded theory approach. We conducted 47 interviews and collected 1 024 historical documents for our research. Our analysis has revealed that HMS’ success in creating the Anybus, and developing a successful business around the innovation, was based on three main capabilities – cultivating customer relations on different managerial and organizational levels, inspiring business relations, and balancing complementary human assets for the purpose of business creation. The success of HMS has turned the management’s attention away from past activities of key actors, of their behavior, and how they influenced and stimulated the creation of radical innovations. Nowadays, they are rhetorically focusing on creativity and innovation. All the while, their real actions put emphasis on growth, cost reduction, product quality, delivery precision, operational efficiency, and moneymaking. In the process of becoming an international company, HMS gradually refocused. In so doing they became profitable and successful, but they also forgot what made them innovative in the first place. Fortunately, HMS’ management has come to realize that this is the case and they are now in search of recapturing innovation once again. Our analysis indicates that HMS’ management is facing several barriers to innovation related path dependency and other lock-in phenomena. HMS’ management has been captured, trapped in their mindset and actions, by the success of the past. But now their future has to be secured, and they have come to realize that moneymaking is not everything. In recent years, HMS’ management have begun to search for innovation once more, in order to recapture their past capabilities for creating radical innovations. In order to unlock their managerial perceptions of customer needs and their counter-innovation driven activities and events, to utilize the full potential of their employees and capture the innovation opportunity for the future.Keywords: barriers to innovation, dynamics of innovation, in search of excellence and innovation, radical innovation
Procedia PDF Downloads 3794492 The Studies of Client Requirements in Home Stay: A Case Study of Thailand
Authors: Kanamon Suwantada
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The purpose of this research is to understand customer’s expectations towards homestays and to establish the precise strategies to increase numbers of tourists for homestay business in Amphawa district, Samutsongkram, Thailand. The researcher aims to ensure that each host provides experiences to travelers who are looking for and determining new targets for homestay business in Amphawa as well as creating sustainable homestay using marketing strategies to increase customers. The methods allow interview and questionnaire to gain both overview data from the tourists and qualitative data from the homestay owner’s perspective to create a GAP analysis. The data was collected from 200 tourists, during 15th May - 30th July, 2011 from homestay in Amphawa Community. The questionnaires were divided into three sections: the demographic profile, customer information and influencing on purchasing position, and customer expectation towards homestay. The analysis, in fact, will be divided into two methods which are percentage and correlation analyses. The result of this research revealed that homestay had already provided customers with reasonable prices in good locations. Antithetically, activities that they offered still could not have met the customer’s requirements. Homestay providers should prepare additional activities such as village tour, local attraction tour, village daily life experiences, local ceremony participation, and interactive conversation with local people. Moreover, the results indicated that a price was the most important factor for choosing homestay.Keywords: ecotourism, homestay, marketing, sufficiency economic philosophy
Procedia PDF Downloads 3104491 Corporate Governance and Disclosure Practices of Listed Companies in the ASEAN: A Conceptual Overview
Authors: Chen Shuwen, Nunthapin Chantachaimongkol
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Since the world has moved into a transitional period, known as globalization; the business environment is now more complicated than ever before. Corporate information has become a matter of great importance for stakeholders, in order to understand the current situation. As a result of this, the concept of corporate governance has been broadly introduced to manage and control the affairs of corporations while businesses are required to disclose both financial and non-financial information to public via various communication channels such as the annual report, the financial report, the company’s website, etc. However, currently there are several other issues related to asymmetric information such as moral hazard or adverse selection that still occur intensively in workplaces. To prevent such problems in the business, it is required to have an understanding of what factors strengthen their transparency, accountability, fairness, and responsibility. Under aforementioned arguments, this paper aims to propose a conceptual framework that enables an investigation on how corporate governance mechanism influences disclosure efficiency of listed companies in the Association of Southeast Asia Nations (ASEAN) and the factors that should be considered for further development of good behaviors, particularly in regards to voluntary disclosure practices. To achieve its purpose, extensive reviews of literature are applied as a research methodology. It is divided into three main steps. Firstly, the theories involved with both corporate governance and disclosure practices such as agency theory, contract theory, signaling theory, moral hazard theory, and information asymmetry theory are examined to provide theoretical backgrounds. Secondly, the relevant literatures based on multi- perspectives of corporate governance, its attributions and their roles on business processes, the influences of corporate governance mechanisms on business performance, and the factors determining corporate governance characteristics as well as capability are reviewed to outline the parameters that should be included in the proposed model. Thirdly, the well-known regulatory document OECD principles and previous empirical studies on the corporate disclosure procedures are evaluated to identify the similarities and differentiations with the disclosure patterns in the ASEAN. Following the processes and consequences of the literature review, abundant factors and variables are found. Further to the methodology, additional critical factors that also have an impact on the disclosure behaviors are addressed in two groups. In the first group, the factors which are linked to the national characteristics - the quality of national code, legal origin, culture, the level of economic development, and so forth. Whereas in the second group, the discoveries which refer to the firm’s characteristics - ownership concentration, ownership’s rights, controlling group, and so on. However, because of research limitations, only some literature are chosen and summarized to form part of the conceptual framework that explores the relationship between corporate governance and the disclosure practices of listed companies in ASEAN.Keywords: corporate governance, disclosure practice, ASEAN, listed company
Procedia PDF Downloads 1924490 Women Trainees' Perception on Non-Formal Educational Workshops in Improving Their Socio-Economic Status in Algeria and Costa Rica
Authors: Bahia Braktia, S. Anna Marcela Montenegro, Imene Abdessemed
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Adult education is still considered a crucial area of education. In a developing framework, it is regarded as a practical approach for social inclusion and poverty reduction. They are also perceived as a way to serve adults who did not have the chance to education in their early ages by providing them knowledge, skills and values. Non-formal adult education and trainings are critical means in a society to break poverty and unemployment, and to decrease the social inequality. This paper investigates the perception of women trainees about a series of workshops in natural beauty products, held in Algeria and Costa Rica and organized by a non-profit educational organization, to improve their socio-economic status. This research seeks to explore ways of empowering women by assessing their needs and providing them with skills to start their own business. A questionnaire is administered before the workshops and focus groups are held at the end. A qualitative research method is employed to analyze the data. Preliminary results show that the trainees aspire to create their businesses with the objectives of poverty reduction and social inclusion. The findings also reveal the need for small business funding programs and entrepreneurial training programs.Keywords: adult education, non-formal education, socio-economic status, women empowerment
Procedia PDF Downloads 2084489 Intercultural and Inclusive Teaching Competency Implementation within a Canadian Polytechnic's Academic Model: A Pre- and Post-Assessment Analysis
Authors: Selinda England, Ben Bodnaryk
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With an unprecedented increase in provincial immigration and government support for greater international and culturally diverse learners, a trade/applied learning-focused polytechnic with four campuses within one Canadian province saw the need for intercultural awareness and an intercultural teaching competence strategy for faculty training. An institution-wide pre-assessment needs survey was conducted in 2018, in which 87% of faculty professed to have some/no training when working with international and/or culturally diverse learners. After researching fellow Polytechnics in Canada and seeing very little in the way of faculty support for intercultural competence, an institutional project team comprised of members from all facets of the Polytechnic was created and included: Indigenous experts, Academic Chairs, Directors, Human Resource Managers, and international/settlement subject matter experts. The project team was organized to develop and implement a new academic model focused on enriching intercultural competence among faculty. Utilizing a competency based model, the project team incorporated inclusive terminology into competency indicators and devised a four-phase proposal for implementing intercultural teacher training: a series of workshops focused on the needs of international and culturally diverse learners, including teaching strategies based on current TESOL methodologies, literature and online resources for quick access when planning lessons, faculty assessment examples and models of interculturally proficient instructors, and future job descriptions - all which promote and encourage development of specific intercultural skills. Results from a post-assessment survey (to be conducted in Spring 2020) and caveats regarding improvements and next steps will be shared. The project team believes its intercultural and inclusive teaching competency-based model is one of the first, institution-wide faculty supported initiatives within the Canadian college and Polytechnic post-secondary educational environment; it aims to become a leader in both the province and nation regarding intercultural competency training for trades, industry, and business minded community colleges and applied learning institutions.Keywords: cultural diversity and education, diversity training teacher training, teaching and learning, teacher training
Procedia PDF Downloads 1174488 Causes, Consequences, and Alternative Strategies of Illegal Migration in Ethiopia: The Case of Tigray Region
Authors: Muuz Abraha Meshesha
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Illegal Migration, specifically Trafficking in person is one of the primary issues of the day affecting all states of the world with variation on the extent of the root causes and consequences that led people to migrate irregularly and the consequences it is costing on humanity. This paper intends to investigate the root causes and consequences of illegal migration in Ethiopia’s Tigray Regional state and come up with alternative intervening strategy. To come up with pertinent and robust research finding, this study employed mixed research approach involving qualitative and quantitative data in line with purposive and snow ball sampling selection technique. The study revealed that, though poverty is the most commonly sensed pushing factor for people to illegally migrate, the issue of psycho-social orientation and attitudinal immersion of the local community for illegal migration, both in thinking and action is the most pressing problem that urges serious intervention. Trafficking in persons and Illegal migration in general, is becoming the norm of the day in the study area that overtly reveal illegal migration is an issue beyond livelihood securing demand in practice. Basically, parties engaged in illegal migration and the accomplice with human traffickers these days in the study area are found to be more than urgency for food security and a need to escape from livelihood impoverishment. Therefore, this study come up with a new paradigm insight indicating that illegal migration is believed by the local community members as an optional path way of doing business in illegal way while the attitude of the community and officials authorized to regulate is being part of the channel or to the least tolerant of this grave global danger. The study also found that the effect of illegal migration is significantly manifested in long run than in short term periods. Therefore, a need for critical consideration on attitudinal based intervention and youth oriented and enforceable legal and policy framework accountability framework is required to face and control illegal migration by international, national, local stakeholders. Besides this, economy based development interventions that could engage and reorient the youth, as primary victims of trafficking, and expansion of large scale projects that can employ large number of youths at a time.Keywords: human traficking, illegal migration, migration, tigray region
Procedia PDF Downloads 664487 Mental Accounting Theory Development Review and Application
Authors: Kang-Hsien Li
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Along with global industries in using technology to enhance the application, make the study drawn more close to the people’s behavior and produce data analysis, extended out from the mental accounting of prospect theory, this paper provides the marketing and financial applications in the field of exploration and discussions with the future. For the foreseeable future, the payment behavior depends on the form of currency, which affects a variety of product types on the marketing of marketing strategy to provide diverse payment methods to enhance the overall sales performance. This not only affects people's consumption also affects people's investments. Credit card, PayPal, Apple pay, Bitcoin and any other with advances in technology and other emerging payment instruments, began to affect people for the value and the concept of money. Such as the planning of national social welfare policies, monetary and financial regulators and regulators. The expansion can be expected to discuss marketing and finance-related mental problems at the same time, recent studies reflect two different ideas, the first idea is that individuals affected by situational frames, not broad impact at the event level, affected by the people basically mental, second idea is that when an individual event affects a broader range, and majority of people will choose the same at the time that the rational choice. That are applied to practical application of marketing, at the same time provide an explanation in the financial market under the anomalies, due to the financial markets has varied investment products and different market participants, that also highlights these two points. It would provide in-depth description of humanity's mental. Certainly, about discuss mental accounting aspects, while artificial intelligence application development, although people would be able to reduce prejudice decisions, that will also lead to more discussion on the economic and marketing strategy.Keywords: mental accounting, behavior economics, consumer behaviors, decision-making
Procedia PDF Downloads 451