Search results for: business process maturity

Authors: Logaiswari Indiran, Zainab Khalifah, Kamariah Ismail

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Business incubators have now been recognized as effective tools in providing business assistance to start-up firms. In both developed and developing countries, the number of incubators is growing tremendously. As the birth rate of incubators increases, so do its challenges. Malaysia, as one of the developing countries in the Asian continent, has also established a number of business incubators to breed and foster the growth and survival of start-up firms. Thus, this study discusses the incubation model applied in Malaysia and the challenges faced by these incubators using secondary data including policies, previous literature, and reports related to Malaysian incubators. The findings of this study call the government to rethink the key role of incubator managers and staffs, internal structure of the incubator concept and process, intellectual properties management, strategic alliances with universities-industries and funding supports in enhancing the support provided by the business incubators in Malaysia. The key challenges highlighted in this study signal important policy lessons for other developing countries that aim to create and map an effective business incubator ecosystem.

Keywords: business incubators, incubation challenges, funding support, incubator managers, internal structure, start-up firms

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Authors: Amritpal Slaich, Mark Elshaw

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This paper explores the development of a decision support framework for the introduction of business intelligence (BI) through operational research techniques for application by SMEs. Aligned with the goals of the new Midlands Enterprise Initiative of improving the skill levels of the Midlands workforce and addressing high levels of regional unemployment, we have developed a framework to increase the level of business intelligence used by SMEs to improve business decision-making. Many SMEs in the Midlands fail due to the lack of high quality decision making. Our framework outlines how universities can: engage with SMEs in the use of BI through operational research techniques; develop appropriate and easy to use Excel spreadsheet models; and make use of a process to allow SMEs to feedback their findings of the models. Future work will determine how well the framework performs in getting SMEs to apply BI to improve their decision-making performance.

Keywords: SMEs, decision support framework, business intelligence, operational research techniques

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Authors: Carin Lindskog

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Introduction: Long-term success requires an organizational balance between continuity (exploitation) and change (exploration). The problem of balancing exploitation and exploration is a common issue in studies of organizational learning. In order to better face the tough competition in the face of changes, organizations need to exploit their current business and explore new business fields by developing new capabilities. The purpose of this work in progress is to develop a conceptual framework to shed light on the relevance of 'learning activities', i.e., exploitation and exploration, on different levels. The research questions that will be addressed are as follows: What sort of learning activities are found in the Business Process Management (BPM) field? How can these activities be linked to the individual level, group, level, and organizational level? In the work, a literature review will first be conducted. This review will explore the status of learning activities in the BPM field. An outcome from the literature review will be a conceptual framework of learning activities based on the included publications. The learning activities will be categorized to focus on the categories exploitation, exploration or both and into the levels of individual, group, and organization. The proposed conceptual framework will be a valuable tool for analyzing the research field as well as identification of future research directions. Related Work: BPM has increased in popularity as a way of working to strengthen the quality of the work and meet the demands of efficiency. Due to the increase in BPM popularity, more and more organizations reporting on BPM failure. One reason for this is the lack of knowledge about the extended scope of BPM to other business contexts that include, for example, more creative business fields. Yet another reason for the failures are the fact of the employees’ are resistant to changes. The learning process in an organization is an ongoing cycle of reflection and action and is a process that can be initiated, developed and practiced. Furthermore, organizational learning is multilevel; therefore the theory of organizational learning needs to consider the individual, the group, and the organization level. Learning happens over time and across levels, but it also creates a tension between incorporating new learning (feed-forward) and exploiting or using what has already been learned (feedback). Through feed-forward processes, new ideas and actions move from the individual to the group to the organization level. At the same time, what has already been learned feeds back from the organization to a group to an individual and has an impact on how people act and think.

Keywords: business process management, exploitation, exploration, learning activities

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Authors: Jamilatuzzahro, Rezzy Eko Caraka

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The yield curve is the plot of the yield to maturity of zero-coupon bonds against maturity. In practice, the yield curve is not observed but must be extracted from observed bond prices for a set of (usually) incomplete maturities. There exist many methodologies and theory to analyze of yield curve. We use two methods (the Nelson-Siegel Method, the Svensson Method, and the SVR method) in order to construct and compare our zero-coupon yield curves. The objectives of this research were: (i) to study the adequacy of NSS model and SVR to Indonesian government bonds data, (ii) to choose the best optimization or estimation method for NSS model and SVR. To obtain that objective, this research was done by the following steps: data preparation, cleaning or filtering data, modeling, and model evaluation.

Keywords: support vector regression, Nelson-Siegel-Svensson, yield curve, Indonesian government

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Authors: Edith Podhovnik

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Cultures play a role in business communication and in research. At the example of language in international business, this paper addresses the issue of how the research cultures of management research and linguistics as well as cultures as such can be linked. After looking at existing research on language in international business, this paper approaches communication in international business from a linguistic angle and attempts to explain communication issues in businesses based on linguistic research. Thus, the paper makes a step into cross-disciplinary research combining management research with linguistics.

Keywords: language in international business, sociolinguistics, ethnopragmatics, cultural scripts

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Authors: A. J. Otjen

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Native American communities are struggling with unemployment and depressed economies. A major cause is a lack of business knowledge, education, and cultural desire. And yet, in the history of the American West, Native Americans were considered the best traders and negotiators for everything from furs to weapons to buffalo. To improve these economies, there has been an effort to reintroduce that heritage to todays and tomorrows generation of tribal members, such Crow, Cheyenne, and Blackfeet. Professors at the College of Business Montana State University-Billings (MSUB) teach tribal students in Montana to create business plans. These plans have won national small business plan competitions. The teaching and advising method used at MSUB is uniquely successful as theses business students are now five time national champions. This article reviews the environment and the method of learning to achieve a winning small business plan with Native American students. It discusses the five plans that became national champions. And it discusses the problems and solutions discovered in the process of achieving results. Students who participated in this endeavor have graduated and become CPAs, MBAs, and gainfully employed in their chosen professions. They have also worked to improve the economies of their native lands and homes. By educating members of these communities with business strategy and plan development, they are better able to impact their own economies.

Keywords: entrepreneurship, native American economies, small businesses, unemployment

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Authors: Manasi V. Shah

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Organizations, in the competitive era, are participating in the competency act. They have discerned that, strategically researched and defined competencies when put up on the shelf, can help in achieving business goals. The research focuses on critical elements of competency-based talent acquisition process from practical vantage, with significant experience in a variety of business settings. The research is exploratory and descriptive in nature. The research conduct and outcome is the hinge on with reference to Indian Industries. It elaborates about the concept, practice and a brief model that human resource practitioner can use for effective talent acquisition process, which in turn would be in alignment with business performance. The research helps to present a prudent understanding of recruiting and selecting apt human capital, that can fit in a given job role and has action oriented competency based assessment approach for measuring the probable success of a job incumbent in a given job role.

Keywords: competency based talent acquisition, competency model, talent acquisition concept, talent acquisition practice

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Authors: Arash Najmaei, Jo Rhodes, Peter Lok, Zahra Sadeghinejad

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In this article, we endeavor to explore how a new business model comes into existence in the Australian cloud-computing eco-system. Findings from multiple case study methodology reveal that to develop a business model new ventures adopt a three-phase approach. In the first phase, labelled as business model ideation (BMID) various ideas for a viable business model are generated from both internal and external networks of the entrepreneurial team and the most viable one is chosen. Strategic consensus and commitment are generated in the second phase. This phase is a business modelling strategic action phase. We labelled this phase as business model strategic commitment (BMSC) because through commitment and the subsequent actions of executives resources are pooled, coordinated and allocated to the business model. Three complementary sets of resources shape the business model: managerial (MnRs), marketing (MRs) and technological resources (TRs). The third phase is the market-test phase where the business model is reified through the delivery of the intended value to customers and conversion of revenue into profit. We labelled this phase business model actualization (BMAC). Theoretical and managerial implications of these findings will be discussed and several directions for future research will be illuminated.

Keywords: entrepreneur business model, high-tech venture, resources, conversion of revenue

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Authors: Onur Ozveri, Korkut Karabag, Cagri Keles

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It is an important issue that the occurring of production downtime and repair costs when machines fail in the machine intensive production industries. In the case of failure of more than one machine at the same time, which machines will have the priority to repair, how to determine the optimal repair time should be allotted for this machines and how to plan the resources needed to repair are the key issues. In recent years, Business Process Management (BPM) technique, bring effective solutions to different problems in business. The main feature of this technique is that it can improve the way the job done by examining in detail the works of interest. In the industries, maintenance and repair works are operating as a process and when a breakdown occurs, it is known that the repair work is carried out in a series of process. Maintenance main-process and repair sub-process are evaluated with process management technique, so it is thought that structure could bring a solution. For this reason, in an international manufacturing company, this issue discussed and has tried to develop a proposal for a solution. The purpose of this study is the implementation of maintenance and repair works which is integrated with process management technique and at the end of implementation, analyzing the maintenance related parameters like quality, cost, time, safety and spare part. The international firm that carried out the application operates in a free region in Turkey and its core business area is producing original equipment technologies, vehicle electrical construction, electronics, safety and thermal systems for the world's leading light and heavy vehicle manufacturers. In the firm primarily, a project team has been established. The team dealt with the current maintenance process again, and it has been revised again by the process management techniques. Repair process which is sub-process of maintenance process has been discussed again. In the improved processes, the ABC equipment classification technique was used to decide which machine or machines will be given priority in case of failure. This technique is a prioritization method of malfunctioned machine based on the effect of the production, product quality, maintenance costs and job security. Improved maintenance and repair processes have been implemented in the company for three months, and the obtained data were compared with the previous year data. In conclusion, breakdown maintenance was found to occur in a shorter time, with lower cost and lower spare parts inventory.

Keywords: ABC equipment classification, business process management (BPM), maintenance, repair performance

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Authors: Batuhan Kocaoglu

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Although using powerful systems like ERP (Enterprise Resource Planning), companies still cannot benchmark their processes and measure their process performance easily based on predefined SCOR (Supply Chain Operation References) terms. The purpose of this research is to identify common and corresponding processes to present a conceptual model to model and measure the purchasing process of an organization. The main steps for the research study are: Literature review related to 'procure to pay' process in ERP system; Literature review related to 'sourcing' process in SCOR model; To develop a conceptual model integrating 'sourcing' of SCOR model and 'procure to pay' of ERP model. In this study, we examined the similarities and differences between these two models. The proposed framework is based on the assumptions that are drawn from (1) the body of literature, (2) the authors’ experience by working in the field of enterprise and logistics information systems. The modeling framework provides a structured and systematic way to model and decompose necessary information from conceptual representation to process element specification. This conceptual model will help the organizations to make quality purchasing system measurement instruments and tools. And offered adaptation issues for ERP systems and SCOR model will provide a more benchmarkable and worldwide standard business process.

Keywords: SCOR, ERP, procure to pay, sourcing, reference model

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Authors: Henrie Yunianto, Dermawan Wibisono

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PT. XYZ is a family business (private company) in Indonesia that provide an educational program and consultation services. Since its establishment in 2011, the company has run without any strategic management system implemented. Though the company could survive until now. The management of PT. XYZ sees the business opportunity for such product is huge, even though the targeted market is very specific (niche), the volume is large (due to large population of Indonesia) and numbers of competitors are low (now). It can be said if the product life cycle is in between ‘Introduction stage’ and ‘growth’ stage. It is observed that nowadays the new entrants (competitors) are increasing, thus PT. XYZ consider reacting in facing the intense business rivalry by conducting the business in an appropriate manner. A Performance Management System is important to be implemented in accordance with the business sustainability and growth. The framework of Performance Management System chosen is Integrated Performance Management System (IPMS). IPMS framework has the advantages of its simplicity, linkage between its business variables and indicators where the company can see the connections between all factors measured. IPMS framework consists of perspectives: (1) Business Result, (2) Internal Processes, (3) Resource Availability. Variables and indicators were examined through deep analysis of the business external and internal environments, Strength-Weakness-Opportunity-Threat (SWOT) analysis, Porter’s five forces analysis. Analytical Hierarchy Process (AHP) analysis was then used to quantify the weight of each variable/indicators. AHP is needed since in this study, PT. XYZ, the data of existing performance indicator was not available. Later, where the IPMS is implemented, the real data measured can be examined to determine the weight factor of each indicators using correlation analysis (or other methods). In this study of IPMS design for PT. XYZ, the analysis shows that with current company goals, along with the AHP methodology, the critical indicators for each perspective are: (1) Business results: Customer satisfaction and Employee satisfaction, (2) Internal process: Marketing performance, Supplier quality, Production quality, Continues improvement; (3) Resources Availability: Leadership and company culture & value, Personal Competences, Productivity. Company and/or organization require performance management system to help them in achieving their vision and mission. Company strategy will be effectively defined and addressed by using performance management system. Integrated Performance Management System (IPMS) framework and AHP analysis help us in quantifying the factors which influence the business output expected.

Keywords: analytical hierarchy process, business strategy, differentiation strategy, integrated performance management system

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Authors: Leen Sulaimani, Maryam Hafiz, Naba Ali, Roba Alsharif

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One of Amazon’s most crucial online systems is artificial intelligence. Amazon would not have a worldwide successful online store, an easy and secure way of payment, and other services if it weren’t for artificial intelligence and machine learning. Amazon uses AI to expand its operations and enhance them by upgrading the website daily; having a strong base of artificial intelligence in a worldwide successful business can improve marketing, decision-making, feedback, and more qualities. Aiming to have a rational AI system in one’s business should be the start of any process; that is why Amazon is fortunate that they keep taking care of the base of their business by using modern artificial intelligence, making sure that it is stable, reaching their organizational goals, and will continue to thrive more each and every day. Artificial intelligence is used daily in our current world and is still being amplified more each day to reach consumer satisfaction and company short and long-term goals.

Keywords: artificial intelligence, Amazon, business, customer, decision making

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Authors: Vithaya Intraphimol

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The purpose of this study is to investigate the relationship between market orientation and business performance through innovations that include product innovation and process innovation. Auto parts and accessories companies in Thailand were used as sample for this investigation. Survey research with structured questionnaire was used as the key instrument in collecting the data. The structural equation modeling (SEM) was assigned test the hypotheses. The sample size in this study requires the minimum sample size of 200. The result found that competitor orientation, and interfunctional coordination has an effect on product innovation. Moreover, interfunctional coordination has an effect on process innovation, and return on asset. This indicates that within- firm coordination has crucial to firms’ performances. The implication for practice, firms should support interfunctional coordination that members of different functional areas of an organization communicate and work together for the creation of value to target buyers they may have better profitability.

Keywords: auto parts industry, business performance, innovations, market orientation

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Authors: Abdulaziz Alnajem, Amit Sharma

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Business Case: Project delivery and enhancing activities' completion in the shortest possible time is critical during execution to proceed with the subsequent phases of Procurement, C & C phases of Contracts to have the required Production facilities/Infrastructure in place to achieve the Company strategic objective of 4.0 MBOPD oil production. SOR (Statement of requirement): Design and Engineering phase of Projects execution takes a long time. It is observed that, in most of the cases, company has crossed the Project Design Submittals review time as per the Contract/Company Standards, resulting into delays in projects completion, and cost impact to the company. Study Scope: Scope of the study covers the process from date of first submission of D & E documents by the contractor to final approval by the controlling team to proceed with the procurement of materials. This scope covers projects handled by the company’s project management teams and includes only the internal review process by the company.

Keywords: business management system, project management, oil and gas, analysis, improvement, design, delays

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Authors: Yuri Katz, Kun Liu, Arunram Atmacharan

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Due to illiquidity, mispricing on Credit Markets is inevitable. This creates huge challenges to banks and investors as they seek to find new ways of risk valuation and portfolio management in a post-credit crisis world. Here, we analyze the difference in behavior of the spread-to-maturity in investment and high-yield categories of US corporate bonds between 2014 and 2023. Deviation from the theoretical dependency of this measure in the universe under study allows to identify multiple cases of mispriced credit risk. Remarkably, we observe mispriced bonds in both categories of credit ratings. This identification is supported by the application of the state-of-the-art machine learning model in more than 90% of cases. Noticeably, the ML-driven model-based forecasting of a category of bond’s credit ratings demonstrate an excellent out-of-sample accuracy (AUC = 98%). We believe that these results can augment conventional valuations of credit portfolios.

Keywords: credit risk, credit ratings, bond pricing, spread-to-maturity, machine learning

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Authors: Hsiu Hua Hu

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Digital transformation has widely affected various industries. It provides technological innovation, process redesign, new business model construction, and talent value creation. This transformation not only allows organizations to obtain and deploy specific technologies and methods suitable for organizational reengineering but also is an important way to solve management problems in human resource (HR) reengineering, business efficiency, and process redesign. In this study, we present the results of a qualitative study that offers insight into a series of key feature of reengineering related to the digital transformation and how to create talent value when the companies successfully perform digital transformation and human resource reengineering, which is led by business digitalization strategies including talent planning, talent acquisition, talent adjustment, and talent development. Drawing from the qualitative investigation findings, we built an inductive model of HR reengineering, which aims to provide research and practical references on future digital transformation and management inquiry.

Keywords: talent value creation, digital transformation, HR reengineering, qualitative study

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Authors: Charlie Yang

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The idea that business practitioners urgently need a more holistic and humanistic philosophy about the free market economy has gained some attraction among business practitioners and business professors. Those who have endorsed “conscious capitalism” as an emerging business philosophy also contended that business education should be grounded in a more positive understanding of capitalism, which enables future business leaders to have a greater impact on the world. This study is designed to critically examine the theoretical foundations of conscious capitalism and its practical and pedagogical possibilities as an emerging business movement. Based on the analysis of qualitative data collected through reflective essays written by business students, I will discuss the pedagogical and practical implications for developing conscious leadership in the context of more transformative and contemplative management education.

Keywords: conscious capitalism, conscious leadership, contemplative management education, contemplative pedagogy

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Authors: Dinesh Khanduja, Sahib Sartaj Singh

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In India, among the start ups, many new ventures fail and for the few that survive and grow, there are always numerous problems. In order to make these surviving units productive and cost effective-in today’s competitive environment, the traditional ways of supporting small enterprises and the related programs of governmental assistance need to be significantly transformed. In this context, ‘Business Incubation’ is emerging as one of the most innovative instruments to support small enterprise creation and development all over the world. Incubators, by providing on the-spot diagnosis and treatment of business problems, dramatically lower the early stage failure rate. In Europe, US and countries like China, Singapore, Thailand etc., the exceptionally fast growth of business incubators has baffled even the researchers. In this direction in India, following on the world pattern, several initiatives have been taken over the last decade to encourage the concept of business incubation. Besides profiling the existing ‘Business Incubators’ in India, the paper dwells upon a case study of SMEs in state of Punjab for exploring the relevance of business incubation for enhancing their productive capacity.

Keywords: business incubation, Technology Business Incubator (TBI), Rural Business Hub (RBH), entrepreneurship, Business Development Services (BDS), technology management

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Authors: Omil Nady Mahrous Maximous

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The article deals with the use of modern information technologies to achieve pro-ecological marketing goals in company-customer relationships. The purpose of the article is to show the possibilities of implementing modern information technologies. In B2C relationships, marketing departments face challenges stemming from the need to quickly segment customers and the current fragmentation of data across many systems, which significantly hinders the achievement of marketing goals. Thus, Article proposes the use of modern IT solutions in the field of marketing activities of companies, taking into account their environmental goals. As a result, its importance for the economic and social development of the emerging countries has increased. While traditional companies emphasize profit maximization as a core business principle, social enterprises must solve social problems at the expense of profit. This rationale gives social enterprises an edge over traditional businesses by meeting the needs of those at the bottom of the pyramid. This also represents a major challenge for social business, since social business acts on the one hand for the benefit of the public and on the other strives for financial stability. Otherwise, the company is unlikely to be fired from the company. Cultures play a role in business communication and research. Using the example of language in international relations, the article presents the problem of the articulation of research cultures in management and linguistics and of cultures as such. After an overview of current research on language in international relations, this article presents the approach to communication in international economy from a linguistic point of view and tries to explain the problems of communication in business starting from linguistic research. A step towards interdisciplinary research that brings together research in the fields of management and linguistics.

Keywords: international marketing, marketing mix, marketing research, small and medium-sized enterprises, strategic marketing, B2B digital marketing strategy, digital marketing, digital marketing maturity model, SWOT analysis consumer behavior, experience, experience marketing, marketing employee organizational performance, internal marketing, internal customer, direct marketing, mobile phones mobile marketing, Sms advertising

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Authors: Fernando Doral

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Family businesses are a key phenomenon within the business landscape. Nevertheless, it involves two terms (“family” and “business”) which are nowadays rapidly evolving. Consequently, it isn't easy to diagnose if a family business will be a growing or decreasing phenomenon, which is the objective of this study. For that purpose, a sample of 50 Spanish-established companies from various sectors was taken. Different factors were identified for each enterprise, related to the profile of the founders, such as age, the number of sons and daughters, or support received from the family at the moment to start it up. That information was taken as an input for a clustering method to identify groups, which could help define the founders' profiles. That characterization was carried as a base to identify three factors whose evolution should be analyzed: family structures, business landscape and entrepreneurs' motivations. The analysis of the evolution of these three factors seems to indicate a negative tendency of family businesses. Therefore the consequent diagnosis of this study is to consider family businesses as a declining phenomenon.

Keywords: business diagnose, business trends, family business, family business founders

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Authors: Nadeem Munawar, Iftikhar Hussain, Tariq Mahmood

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The lesser bandicoot rat (Bandicota bengalensis) is widely distributed and a serious agricultural pest in Pakistan. It has wide adaptation with rice-wheat-sugarcane cropping systems of Punjab, Sindh and Khyber Pakhtunkhwa and wheat-groundnut cropping system of Pothwar area, thus inflicting heavy losses to these crops. Comparative efficacies of four food baits (onion, guava, potato and peanut butter smeared bread/Chapatti) were tested in multiple feeding tests for kill trapping of this rat species in the Pothwar Plateau between October 2013 to July 2014 at the sowing, tilling, flowering and maturity stages of wheat, groundnut and millet crops. The results revealed that guava was the most preferred bait as compared to the rest of three, presumably due to particular taste and smell of the guava. The relative efficacies of all four tested baits guava also scoring the highest trapping success of 16.94 ± 1.42 percent, followed by peanut butter, potato, and onion with trapping successes of 10.52 ± 1.30, 7.82 ± 1.21 and 4.5 ± 1.10 percent, respectively. In various crop stages and season-wise the highest trapping success was achieved at maturity stages of the crops, presumably due to higher surface activity of the rat because of favorable climatic conditions, good shelter, and food abundance. Moreover, the maturity stage of wheat crop coincided with spring breeding season and maturity stages of millet and groundnut match with monsoon/autumn breeding peak of the lesser bandicoot rat in Pothwar area. The preferred order among four baits tested was guava > peanut butter > potato > onion. The study recommends that the farmers should periodically carry out rodent trapping at the beginning of each crop season and during non-breeding seasons of this rodent pest when the populations are low in numbers and restricted under crop boundary vegetation, particularly during very hot and cold months.

Keywords: Bandicota bengalensis, efficacy, food baits, Pothwar

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Authors: Jesus Argueta

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This study aims to explore the Business Demography Phenomena along the Central American context, through the examination of its theoretical background, and the revision of Central American corporations success stories, that will eventually guide this research towards the business Demography Key Performance Indicators, across the Central American Business Ambiance. Considering that this analysis will support the development of a Small and Medium Business Observatory over the Honduran commercial landscapes, as platform for the reinforcement of this global topic.

Keywords: business demography, economic dynamism, small, medium and large enterprises, corporate demography

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Authors: Anton G. Kalmykov, Andrew Yu. Bychkov, Georgy A. Kalmykov

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Nowadays, most oil reserves in Russia and all over the world are hard to recover. That is the reason oil companies are searching for new sources for hydrocarbon production. One of the sources might be high-carbon formations with unconventional reservoirs. Bazhenov formation is a huge source rock formation located in West Siberia, which contains unconventional reservoirs on some of the areas. These reservoirs are formed by secondary processes with low predicting ratio. Only one of five wells is drilled through unconventional reservoirs, in others kerogen has low thermal maturity, and they are of low petroliferous. Therefore, there was a request for tertiary methods for in-situ cracking of kerogen and production of oil. Laboratory experiments of Bazhenov formation rock hydrous pyrolysis were used to investigate features of the oil generation process. Experiments on Bazhenov rocks with a different mineral composition (silica concentration from 15 to 90 wt.%, clays – 5-50 wt.%, carbonates – 0-30 wt.%, kerogen – 1-25 wt.%) and thermal maturity (from immature to late oil window kerogen) were performed in a retort under reservoir conditions. Rock samples of 50 g weight were placed in retort, covered with water and heated to the different temperature varied from 250 to 400°C with the durability of the experiments from several hours to one week. After the experiments, the retort was cooled to room temperature; generated hydrocarbons were extracted with hexane, then separated from the solvent and weighted. The molecular composition of this synthesized oil was then investigated via GC-MS chromatography Characteristics of rock samples after the heating was measured via the Rock-Eval method. It was found, that the amount of synthesized oil and its composition depending on the experimental conditions and composition of rocks. The highest amount of oil was produced at a temperature of 350°C after 12 hours of heating and was up to 12 wt.% of initial organic matter content in the rocks. At the higher temperatures and within longer heating time secondary cracking of generated hydrocarbons occurs, the mass of produced oil is lowering, and the composition contains more hydrocarbons that need to be recovered by catalytical processes. If the temperature is lower than 300°C, the amount of produced oil is too low for the process to be economically effective. It was also found that silica and clay minerals work as catalysts. Selection of heating conditions allows producing synthesized oil with specified composition. Kerogen investigations after heating have shown that thermal maturity increases, but the yield is only up to 35% of the maximum amount of synthetic oil. This yield is the result of gaseous hydrocarbons formation due to secondary cracking and aromatization and coaling of kerogen. Future investigations will allow the increase in the yield of synthetic oil. The results are in a good agreement with theoretical data on kerogen maturation during oil production. Evaluated trends could be tooled up for in-situ oil generation by shale rocks thermal action.

Keywords: Bazhenov formation, fossil fuels, hydropyrolysis, synthetic oil

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Authors: Susan P. Teru, Jerome Nyameh

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Many contemporary organizations are placing a greater emphasis on business enterprise systems as a means of generating higher levels of economic development. Many business research and literature has also concur that enterprise drive economic development, giving little or no credit to social enterprise, whose profit is reinvest to the community development compare to the business enterprise that share their profit to shareholders. Economic development includes economic policies that affect the beneficiaries of the economic entity. We suggest that producing social enterprise increments may be best achieved by orienting social enterprise entrepreneurs system to promote economic development. To this end, we describe a new approach to the social enterprise process that includes social entrepreneur and the key drivers of economic development at each stage. We present a model of social enterprise that incorporates the main ideas of the paper and suggests a new perspective for thinking about how to foster and manage social enterprise to achieve high levels of economic development.

Keywords: social enterprise, economic development, Nigeria, business and management

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Authors: Kylie Leonard

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Investment in artificial intelligence (AI) can be an attractive opportunity for business leaders as there are many easy-to-see benefits. These benefits include task completion rates, overall cost, and better forecasting. Business leaders are often unaware of the challenges that can accompany AI, such as data center costs, access to data, employee acceptance, and privacy concerns. In addition to the benefits and challenges of AI, it is important to practice AI ethics to ensure the safe creation of AI. AI ethics include aspects of algorithm bias, limits in transparency, and surveillance. To be a good business leader, it is critical to address all the considerations involving the challenges of AI and AI ethics.

Keywords: artificial intelligence, artificial intelligence ethics, business leaders, business concerns

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Authors: Minttu Laukkanen, Janne Huiskonen

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This study investigates the sharing economy business models as examples of the sustainable business models. The aim is to contribute to the limited literature on sharing economy in connection with sustainable business models by explaining sharing economy business models value capturing. Specifically, this research answers the following question: How business model choices affect captured sustainable value? A multiple case study approach is applied in this study. Twenty different successful sharing economy business models focusing on consumer business and covering four main areas, accommodation, mobility, food, and consumer goods, are selected for analysis. The secondary data available on companies’ websites, previous research, reports, and other public documents are used. All twenty cases are analyzed through the sharing economy business model framework and sustainable value analysis framework using qualitative data analysis. This study represents general sharing economy business model value attributes and their specifications, i.e. sustainable value propositions for different stakeholders, and further explains the sustainability impacts of different sharing economy business models through captured and uncaptured value. In conclusion, this study represents how business model choices affect sustainable value capturing through eight business model attributes identified in this study. This paper contributes to the research on sustainable business models and sharing economy by examining how business model choices affect captured sustainable value. This study highlights the importance of careful business model and sustainability impacts analyses including the triple bottom line, multiple stakeholders and value captured and uncaptured perspectives as well as sustainability trade-offs. It is not self-evident that sharing economy business models advance sustainability, and business model choices does matter.

Keywords: sharing economy, sustainable business model innovation, sustainable value, value capturing

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Authors: Ömer Akkaya, Muammer Zerenler

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Ethics is important for all shareholders and stakeholders that a firm has in its environment. Whether a firm behaves ethically or unethically has a significant influence on consumers’ decision making and buying process. This research tries to explain business ethics from consumers’ perspective. The survey includes several questions to explain how consumers react if they know a firm behave unethically or ethically. What are consumers’ expectations regarding the ethical behavior of firm? Do consumer reward or punish the firms considering the ethics? Does it really important for consumers firms behaving ethical?

Keywords: business ethics, consumer behavior, ethics, social responsibility

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Authors: Akwesi Assensoh-Kodua

Abstract:

Online Social Networks (OSN) has come and gone, yet the explosion of business activities on such platforms continuous to surge high, giving advantage to the bold entrepreneurs. It is therefore a practical requirement that practitioners and researchers understand the key determinants of costumers’ online social network business activities and continuance intention. An exploratory literature research to examine OSN continuous intention of business participants on OSN revealed that the practice of doing business on social network has come to stay and the following factors are the likely drivers for this new business model: perceived trust, perceived ease of use, confirmation, habit, social norm, perceived behavioural control, expected benefit, and satisfaction are the most probable factors that can lead to online social network (OSN) continuance intention.

Keywords: online social network, continuance intention, business continuance

Procedia PDF Downloads 493

Authors: Temitope L. Baiyegunhi, Kuiwu Liu, Oswald Gwavava, Christopher Baiyegunhi

Abstract:

Shale gas has recently been the exploration focus for future energy resource in South Africa. Specifically, the black shales of the lower Ecca Group in the study area are considered to be one of the most prospective targets for shale gas exploration. Evaluation of this potential resource has been restricted due to the lack of exploration and scarcity of existing drill core data. Thus, only limited previous geochemical data exist for these formations. In this study, outcrop and core samples of the Ecca Group were analysed to assess their total organic carbon (TOC), organic matter type, thermal maturity and hydrocarbon generation potential (SP). The results show that these rocks have TOC ranging from 0.11 to 7.35 wt.%. The SP values vary from 0.09 to 0.53 mg HC/g, suggesting poor hydrocarbon generative potential. The plot of S1 versus TOC shows that the source rocks were characterized by autochthonous hydrocarbons. S2/S3 values range between 0.40 and 7.5, indicating Type- II/III, III, and IV kerogen. With the exception of one sample from the collingham formation which has HI value of 53 mg HC/g TOC, all other samples have HI values of less than 50 mg HC/g TOC, thus suggesting Type-IV kerogen, which is mostly derived from reworked organic matter (mainly dead carbon) with little or no potential for hydrocarbon generation. Tmax values range from 318 to 601℃, indicating immature to over-maturity of hydrocarbon. The vitrinite reflectance values range from 2.22 to 3.93%, indicating over-maturity of the kerogen. Binary plots of HI against OI and HI versus Tmax show that the shales are of Type II and mixed Type II-III kerogen, which are capable of generating both natural gas and minor oil at suitable burial depth. Based on the geochemical data, it can be inferred that the source rocks are immature to over-matured variable from localities and have potential of producing wet to dry gas at present-stage. Generally, the Whitehill formation of the Ecca Group is comparable to the Marcellus and Barnett Shales. This further supports the assumption that the Whitehill Formation has a high probability of being a profitable shale gas play, but only when explored in dolerite-free area and away from the Cape Fold Belt.

Keywords: source rock, organic matter type, thermal maturity, hydrocarbon generation potential, Ecca Group

Procedia PDF Downloads 141

Authors: Alexandra Lipitakis, Evangelia A. E. C. Lipitakis

Abstract:

In this article, a class of e-business strategy planning parameters are introduced and their effect on financial and non-financial performance of e-businesses and organizations is investigated. The relationships between these strategic planning parameters, i.e. Formality, Participation, Sophistication, Thoroughness, Synergy and Cooperation, Entropic Factor, Adaptivity, Uncertainty and Financial and Non-Financial Performance are examined and the directions of these relationships are given. A conceptual model has been constructed and quantitative research methods can be used to test the considered eight hypotheses. In the framework of e-business strategy planning this research study clearly demonstrates how strategic planning components have positive relationships with e-business strategy management and performance.

Keywords: e-business management, e-business model, e-business performance assessments, strategy management methodologies, strategy planning, quantitative methods

Procedia PDF Downloads 387