Search results for: business process modeling

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: Antoine Lauvray, Fabien Poulhaon, Pierre Michaud, Pierre Joyot, Emmanuel Duc

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Additive Friction Stir Manufacturing (AFSM) is a new industrial process that follows the emergence of friction-based processes. The AFSM process is a solid-state additive process using the energy produced by the friction at the interface between a rotating non-consumable tool and a substrate. Friction depends on various parameters like axial force, rotation speed or friction coefficient. The feeder material is a metallic rod that flows through a hole in the tool. Unlike in Friction Stir Welding (FSW) where abundant literature exists and addresses many aspects going from process implementation to characterization and modeling, there are still few research works focusing on AFSM. Therefore, there is still a lack of understanding of the physical phenomena taking place during the process. This research work aims at a better AFSM process understanding and implementation, thanks to numerical simulation and experimental validation performed on a prototype effector. Such an approach is considered a promising way for studying the influence of the process parameters and to finally identify a process window that seems relevant. The deposition of material through the AFSM process takes place in several phases. In chronological order these phases are the docking phase, the dwell time phase, the deposition phase, and the removal phase. The present work focuses on the dwell time phase that enables the temperature rise of the system composed of the tool, the filler material, and the substrate and due to pure friction. Analytic modeling of heat generation based on friction considers as main parameters the rotational speed and the contact pressure. Another parameter considered influential is the friction coefficient assumed to be variable due to the self-lubrication of the system with the rise in temperature or the materials in contact roughness smoothing over time. This study proposes, through numerical modeling followed by experimental validation, to question the influence of the various input parameters on the dwell time phase. Rotation speed, temperature, spindle torque, and axial force are the main monitored parameters during experimentations and serve as reference data for the calibration of the numerical model. This research shows that the geometry of the tool as well as fluctuations of the input parameters like axial force and rotational speed are very influential on the temperature reached and/or the time required to reach the targeted temperature. The main outcome is the prediction of a process window which is a key result for a more efficient process implementation.

Keywords: numerical model, additive manufacturing, friction, process

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Authors: J. Tamosaityte

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The research paper analyzed the Corporate Social Responsibility (CSR) meaning and how the meaning of CSR evoluted and changed during the last years. The paper suggests to expand CSR understanding in framework of Corporate Socially Responsible Behavior (CSRB), CSR integration into business strategy and CSR effect with stakeholders engagement, when all the business is based on CSR. A business that is fully based on CSR may act in a more successful way and reach better business results in the long-term perspective. Strong business’s commitment to CSR might also strengthen company’s reputation and be one of significant element to achieve business sustainability.

Keywords: corporate social responsibility, corporate socially responsible behavior, strategy, stakeholders engagement, reputation

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Authors: F. S. Alavi, D. Mowla, F. Esmaeilzadeh

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In this paper, the core of Sarkhoon Gas Condensate Reservoir located in the south of Iran was thermodynamically modeled in order to study the natural depletion process and methane injection phenomena for enhanced gas-condensate recovery using the Eclipse 300 compositional simulator. Modeling was performed for three different core lengths with different production and injection flow rates in both vertical and horizontal cases. According to the results, the final condensate in place value in the natural depletion process is approximately independent of the production rate for a given pressure drop. The final condensate in place value is lower in vertical cases compared to horizontal cases. An increase in the injection flow rate leads to a decrease in the percentage of gascondensate recovery. In cores of equal length, gas condensate recovery percent is higher in vertical cases in comparison to horizontal cases. For a constant injection rate, decreasing the core length leads to a decrease in gas condensate recovery.

Keywords: reservoir simulation, methane injection, enhanced condensate recovery, reservoir core, modeling

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Authors: Selamawit Mulubrhan Gidey

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Adama city, having an area of 29.86 km2, is one of the main cities in Ethiopia experiencing rapid growth in business and construction activities which in turn with an increasing number of vehicles at an alarming rate. For this reason, currently, there is an attempt to develop public transport assignment modeling in the city. Still, there is a huge gap in developing public transport assignments along the road segments of the city with operational and safety performance due to high traffic volume. Thus, the introduction of public transport assignment modeling in Adama City can have a massive impact on the road safety and capacity problem in the city. City transport modeling is important in city transportation planning, particularly in overcoming existing transportation problems such as traffic congestion. In this study, the Adama City transportation model was developed using the PTV VISUM software, whose transportation modeling is based on the four-step model of transportation. Based on the traffic volume data fed and simulated, the result of the study shows that the developed model has better reliability in representing the traffic congestion conditions in Adama city, and the simulation clearly indicates the level of congestion of each route selected and thus, the city road administrative office can take managerial decisions on public transport assignment so as to overcome traffic congestion executed along the selected routes.

Keywords: trip modelling, PTV VISUM, public transport assignment, congestion

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Authors: Raz Flieshman, Adam Michael Altenbuchner, Jörg Krüger

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This paper presents an approach to optimizing the Fused Deposition Modeling (FDM) 3D printing process through a preprocess calibration routine of printing parameters. The core of this method involves the use of a low-cost thermal sensor capable of measuring tempera-tures within the range of -20 to 500 degrees Celsius for detailed process observation. The calibration process is conducted by printing a predetermined path while varying the process parameters through machine instructions (g-code). This enables the extraction of critical thermal, dimensional, and surface properties along the printed path. The calibration routine utilizes computer vision models to extract features and metrics from the thermal images, in-cluding temperature distribution, layer adhesion quality, surface roughness, and dimension-al accuracy and consistency. These extracted properties are then analyzed to optimize the process parameters to achieve the desired qualities of the printed material. A significant benefit of this calibration method is its potential to create printing parameter profiles for new polymer and composite materials, thereby enhancing the versatility and application range of FDM 3D printing. The proposed method demonstrates significant potential in enhancing the precision and reliability of FDM 3D printing, making it a valuable contribution to the field of additive manufacturing.

Keywords: FDM 3D printing, preprocess calibration, thermal sensor, process optimization, additive manufacturing, computer vision, material profiles

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Authors: Cyrillus Prabandana

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Supply chain optimisation requires multiple factors as consideration or constraints. These factors are including but not limited to demand forecasting, raw material fulfilment, production capacity, inventory level, facilities locations, transportation means, and manpower availability. By knowing all manageable factors involved and assuming the uncertainty with pre-defined percentage factors, an integrated supply chain model could be developed to manage various business scenarios. This paper analyse the utilisation of geographical point of view to develop an integrated supply chain network model to optimise the distribution of finished product appropriately according to forecasted demand and available supply. The supply chain optimisation model shows that small change in one supply chain constraint is possible to largely impact other constraints, and the new information from the model should be able to support the decision making process. The model was focused on three areas, i.e. raw material fulfilment, production capacity and finished products transportation. To validate the model suitability, it was implemented in a project aimed to optimise the concrete supply chain in a mining location. The high level of operations complexity and involvement of multiple stakeholders in the concrete supply chain is believed to be sufficient to give the illustration of the larger scope. The implementation of this geographical supply chain network modeling resulted an optimised concrete supply chain from raw material fulfilment until finished products distribution to each customer, which indicated by lower percentage of missed concrete order fulfilment to customer.

Keywords: decision making, geographical supply chain modeling, supply chain optimisation, supply chain

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Authors: Lo Kar Yin, Law Ka Mei

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Architectural, engineering, construction and operations (AECO) industry practitioners have been well adapting to the dynamic construction market from the fundamental training of its discipline. As further triggered by the pandemic since 2019, great steps are taken in virtual environment and the best collaboration is strived with project teams without boundaries. With adoption of Building Information Modeling-based approach and qualitative analysis, this paper is to review quantity take-off and cost estimation process through modeling techniques in liaison with suppliers, fabricators, subcontractors, contractors, designers, consultants and services providers in the construction industry value chain for automatic project cost budgeting, project cost control and cost evaluation on design options of in-situ reinforced-concrete construction and Modular Integrated Construction (MiC) at design stage, variation of works and cash flow/spending analysis at construction stage as far as practicable, with a view to sharing the findings for enhancing mutual trust and co-operation among AECO industry practitioners. It is to foster development through a common prototype of design and build project delivery method in NEC Engineering and Construction Contract (ECC) Options A and C.

Keywords: building information modeling, cost estimation, quantity take-off, modeling techniques

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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: 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: Vytautas Galvanauskas, Vykantas Grincas, Rimvydas Simutis

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This paper investigates a possible practical solution for reasonable oxygen supply during the pluripotent stem cells expansion processes, where the stem cells propagate as aggregates in stirred-suspension bioreactors. Low glucose and low oxygen concentrations are preferred for efficient proliferation of pluripotent stem cells. However, strong oxygen limitation, especially inside of cell aggregates, can lead to cell starvation and death. In this research, the oxygen concentration profile inside of stem cell aggregates in a stem cell expansion process was predicted using a modified oxygen diffusion model. This profile can be realized during the stem cells cultivation process by manipulating the oxygen concentration in inlet gas or inlet gas flow. The proposed approach is relatively simple and may be attractive for installation in a real pluripotent stem cell expansion processes.

Keywords: aggregated stem cells, dissolved oxygen profiles, modeling, stirred-tank, 3D expansion

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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: Amanbek Jainakov, Abdikerim Kurbanaliev

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The work presents the results of mathematical modeling of large-scale flows in areas with a complex topographic relief. The Reynolds-averaged Navier—Stokes equations constitute the basis of the three-dimensional unsteady modeling. The well-known Volume of Fluid method implemented in the solver interFoam of the open package OpenFOAM 2.3 is used to track the free-boundary location. The mathematical model adequacy is checked by comparing with experimental data. The efficiency of the applied technology is illustrated by the example of modeling the breakthrough of the dams of the Andijan (Uzbekistan) and Papan (near the Osh town, Kyrgyzstan) reservoir.

Keywords: three-dimensional modeling, free boundary, the volume-of-fluid method, dam break, flood, OpenFOAM

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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: 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: Neslihan Şahin Çelik, Ali Eraslan

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In recent years, mathematics educators have frequently stressed the necessity of instructing students about models and modeling approaches that encompass cognitive and metacognitive thought processes, starting from the first years of school and continuing on through the years of higher education. The purpose of this study is to examine the thought processes of 4th-grade primary school students in their modeling activities and to explore the difficulties encountered in these processes, if any. The study, of qualitative design, was conducted in the 2015-2016 academic year at a public state-school located in a central city in the Black Sea Region of Turkey. A preliminary study was first implemented with designated 4th grade students, after which the criterion sampling method was used to select three students that would be recruited into the focus group. The focus group that was thus formed was asked to work on the model eliciting activity of the Paper Airplane Problem and the entire process was recorded on video. The Paper Airplane Problem required the students to determine the winner with respect to: (a) the plane that stays in the air for the longest time; (b) the plane that travels the greatest distance in a straight-line path; and (c) the overall winner for the contest. A written transcript was made of the video recording, after which the recording and the students' worksheets were analyzed using the Blum and Ferri modeling cycle. The results of the study revealed that the students tested the hypotheses related to daily life that they had set up, generated ideas of their own, verified their models by making connections with real life, and tried to make their models generalizable. On the other hand, the students had some difficulties in terms of their interpretation of the table of data and their ways of operating on the data during the modeling processes.

Keywords: primary school students, model eliciting activity, mathematical modeling, modeling process, paper airplane problem

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Authors: Yamileth P. Herrera, Ronald R. Gutierrez, Carlos, Pacheco-Bustos

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This research aims at the numerical modeling of a rectangular contact tank in order to improve the hydrodynamic behavior and the retention time of the water to be treated with the disinfecting agent. The methodology to be followed includes a hydraulic analysis of the tank to observe the fluid velocities, which will allow evidence of low-speed areas that may generate pathogenic agent incubation or high-velocity areas, which may decrease the optimal contact time between the disinfecting agent and the microorganisms to be eliminated. Based on the results of the numerical model, the efficiency of the tank under the geometric and hydraulic conditions considered will be analyzed. This would allow the performance of the tank to be improved before starting a construction process, thus avoiding unnecessary costs.

Keywords: contact tank, numerical models, hydrodynamic modeling, residence time

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Authors: Ali S. Gargoum

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Graphical modeling plays an important role in providing efficient probability calculations in high dimensional problems (computational efficiency). In this paper, we address one of such problems where we discuss fragmenting puff models and some distributional assumptions concerning models for the instantaneous, emission readings and for the fragmenting process. A graphical representation in terms of a junction tree of the conditional probability breakdown of puffs and puff fragments is proposed.

Keywords: graphical models, influence diagrams, junction trees, Bayesian nets

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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: Vaida Zemlickiene

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Scientists around the world and practitioners are working to identify the factors that influence the results of technology commercialization and to propose the ideal model for the technology commercialization process. In other words, all stakeholders of technology commercialization seek to find a formula or set of rules to succeed in commercializing technologies in order to avoid unproductive investments. In this article, the process of commercialization technology is understood as the process of transforming inventions into marketable products, services, and processes, or the path from the idea of using an invention to a product that incorporates process from 1 to 9 technology readiness level (TRL). There are many publications in the field of management literature, which are aimed at managing the commercialization process. However, there is an apparent lack of research for communication in decision-making in the process of technology commercialization. Works were done in the past, and the last decade's global research analysis led to the unambiguous conclusion that the methodological framework is not mature enough to be of practical use in business. The process of technology commercialization and the decisions made in the process should be explored in-depth. An archival analysis is performed to find insights into decision-making communication in the process of technologies commercialization, to find out the content of technology commercialization process: decision-making stages and participants, to analyze the internal factors of technology commercialization, to perform their critical analysis, to analyze the concept of successful/unsuccessful technology commercialization.

Keywords: the process of technology commercialization, communication in decision-making process, the content of technology commercialization process, successful/unsuccessful technology commercialization

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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: Ozgul Kartal, Wade Tillett, Lyn D. English

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Despite its global significance in curricula, mathematical modeling encounters persistent disparities in recognition and emphasis within regular mathematics classrooms and teacher education across countries with diverse educational and cultural traditions, including variations in the perceived role of mathematical modeling. Over the past two decades, increased attention has been given to the integration of mathematical modeling into national curriculum standards in the U.S. and other countries. Therefore, the mathematics education research community has dedicated significant efforts to investigate various aspects associated with the teaching and learning of mathematical modeling, primarily focusing on exploring the applicability of modeling in schools and assessing students', teachers', and preservice teachers' (PTs) competencies and engagement in modeling cycles and processes. However, limited attention has been directed toward examining potential resistance hindering teachers and PTs from effectively implementing mathematical modeling. This study focuses on how PTs, without prior modeling experience, resist and/or embrace mathematical modeling and its pedagogy as they learn about models and modeling perspectives, navigate the modeling process, design and implement their modeling activities and lesson plans, and experience the pedagogy enabling modeling. Model eliciting activities (MEAs) were employed due to their high potential to support the development of mathematical modeling pedagogy. The mathematical modeling module was integrated into a mathematics methods course to explore how PTs embraced or resisted mathematical modeling and its pedagogy. The module design included reading, reflecting, engaging in modeling, assessing models, creating a modeling task (MEA), and designing a modeling lesson employing an MEA. Twelve senior undergraduate students participated, and data collection involved video recordings, written prompts, lesson plans, and reflections. An open coding analysis revealed acceptance and resistance toward teaching mathematical modeling. The study identified four overarching themes, including both acceptance and resistance: pedagogy, affordance of modeling (tasks), modeling actions, and adjusting modeling. In the category of pedagogy, PTs displayed acceptance based on potential pedagogical benefits and resistance due to various concerns. The affordance of modeling (tasks) category emerged from instances when PTs showed acceptance or resistance while discussing the nature and quality of modeling tasks, often debating whether modeling is considered mathematics. PTs demonstrated both acceptance and resistance in their modeling actions, engaging in modeling cycles as students and designing/implementing MEAs as teachers. The adjusting modeling category captured instances where PTs accepted or resisted maintaining the qualities and nature of the modeling experience or converted modeling into a typical structured mathematics experience for students. While PTs displayed a mix of acceptance and resistance in their modeling actions, limitations were observed in embracing complexity and adhering to model principles. The study provides valuable insights into the challenges and opportunities of integrating mathematical modeling into teacher education, emphasizing the importance of addressing pedagogical concerns and providing support for effective implementation. In conclusion, this research offers a comprehensive understanding of PTs' engagement with modeling, advocating for a more focused discussion on the distinct nature and significance of mathematical modeling in the broader curriculum to establish a foundation for effective teacher education programs.

Keywords: mathematical modeling, model eliciting activities, modeling pedagogy, secondary teacher education

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Authors: Mario Spremic

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Despite the financial crisis and ongoing need for cost cutting, companies all around the world heavily invest in information systems (IS) and underlying information technology (IT). Information systems (IS) play very important role in modern business organizations supporting its organizational efficiency or, under certain circumstances, fostering business model innovation and change. IS can influence organization competitiveness in two ways: supporting operational efficiency (IS as a main infrastructure for the current business), or differentiating business through business model innovation and business process change. In either way, IS becomes very important to the business and needs to be aligned with strategic objectives in order to justify massive investments. A number of studies showed that investments in IS and underlying IT resulted in added business value if they are truly connected with strategic business objectives. In that sense proliferation of governance of enterprise IT helps companies manage, or rather, governs IS as a primary business function with executive management involved in making a decision about IS and IT. The quality of IT governance is rising with the large number of decisions about IS made by executive management, not IT departments. The more executive management is engaged in making a decision about IS and IT, the IT governance is of better quality. In this paper, the practice of governing the enterprise IT will be investigated on a sample of the largest 100 Croatian companies. Research questions posed here will reveal if there are some formal IT governance mechanisms, are there any differences in perceived role of IS and IT between CIOs (Chief Information Officers) and CEOs (Chief Executive Officers) of the sampled companies and what are the mechanisms to govern massive investment in enterprise IT.

Keywords: IT governance, governance of enterprise IT, information system auditing, operational efficiency

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Authors: B. Seetanah, R. V. Sannassee, Lamport, K. Padachi, K. Seetah, S. Matadeen, N. Okurutt, N. Ama, L. Mokoodi

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This paper analyses the impact of the various enabling elements towards fostering entrepreneurial behavior for two Sub Saharan African countries namely Mauritius and Botswana, with focus is on role of institutions (ministries, government support institutions, financing institutions and SME associations). Using a structural equation modeling framework, it is found that finance was some of the most determinant of respondents’ evaluation of the business climate thus emphasizing on the crucial of such an ingredient. Interestingly government related factors such as government support and institutional support are also reported to have a significant influence on the SME business climate in both countries.

Keywords: institutions, SME, SEM, Mauritius, Botswana

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Authors: Anas Hourani, Batool Ahmad

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Software applications play an important role inside any institute. They are employed to manage all processes and store entities-related data in the computer. Therefore, choosing the right software product that meets institute requirements is not an easy decision in view of considering multiple criteria, different points of views, and many standards. As a case study, Mutah University, located in Jordan, is in essential need of customized software, and several companies presented their software products which are very similar in quality. In this regard, an analytic hierarchy process (AHP) and a fuzzy analytic hierarchy process (Fuzzy-AHP) models are proposed in this research to identify the most suitable and best-fit software product that meets the institute requirements. The results indicate that both modules are able to help the decision-makers to make a decision, especially in complex decision problems.

Keywords: analytic hierarchy process, decision modeling, fuzzy analytic hierarchy process, software product

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Authors: Chao-xun Liu, Shi-hong Lu

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In spite of its importance to the aerospace and automobile industries, little or no attention has been devoted to the accurate modeling of the ultrasonic shot peening (USP) process. It is therefore the purpose of this study to conduct finite element analysis of the process using a realistic multiple pin impacts model with the explicit solver of ABAQUS. In this paper, we research the effect of several key parameters on the residual stress distribution within the target, including impact velocity, incident angle, friction coefficient between pins and target and impact number of times were investigated. The results reveal that the impact velocity and impact number of times have obvious effect and impacting vertically could produce the most perfect residual stress distribution. Then we compare the results with the date in USP experiment and verify the exactness of the model. The analysis of the multiple pin impacts date reveal the relationships between peening process parameters and peening quality, which are useful for identifying the parameters which need to be controlled and regulated in order to produce a more beneficial compressive residual stress distribution within the target.

Keywords: ultrasonic shot peening, finite element, multiple pins, residual stress, numerical simulation

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Authors: Jayanta Pokharel, Gokarna Aryal, Netra Kanaal, Chris Tsokos

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Investment in stocks and shares aims to seek potential gains while weighing the risk of future needs, such as retirement, children's education etc. Analysis of the behavior of the stock market returns and making prediction is important for investors to mitigate risk on investment. Historically, the normal variance models have been used to describe the behavior of stock market returns. However, the returns of the financial assets are actually skewed with higher kurtosis, heavier tails, and a higher center than the normal distribution. The Laplace distribution and its family are natural candidates for modeling stock returns. The Variance-Gamma (VG) distribution is the most sought-after distributions for modeling asset returns and has been extensively discussed in financial literatures. In this paper, it explore the other Laplace family, such as Asymmetric Laplace, Skewed Laplace, Kumaraswamy Laplace (KS) together with Variance-Gamma to model the weekly returns of the S&P 500 Index and it's eleven business sector indices. The method of maximum likelihood is employed to estimate the parameters of the distributions and our empirical inquiry shows that the Kumaraswamy Laplace distribution performs much better for stock returns modeling among the choice of distributions used in this study and in practice, KS can be used as a strong alternative to VG distribution.

Keywords: stock returns, variance-gamma, kumaraswamy laplace, maximum likelihood

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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: Phumelele Kubheka, Pius Owolawi, Gbolahan Aiyetoro

Abstract:

Twitter is one of the most popular social media platforms where users can share their opinions on different subjects. As of 2010, The Twitter platform generates more than 12 Terabytes of data daily, ~ 4.3 petabytes in a single year. For this reason, Twitter is a great source for big mining data. Many industries such as Telecommunication companies can leverage the availability of Twitter data to better understand their markets and make an appropriate business decision. This study performs topic modeling on Twitter data using Latent Dirichlet Allocation (LDA). The obtained results are benchmarked with another topic modeling technique, Latent Semantic Indexing (LSI). The study aims to retrieve topics on a Twitter dataset containing user tweets on South African Telcos. Results from this study show that LSI is much faster than LDA. However, LDA yields better results with higher topic coherence by 8% for the best-performing model represented in Table 1. A higher topic coherence score indicates better performance of the model.

Keywords: big data, latent Dirichlet allocation, latent semantic indexing, telco, topic modeling, twitter

Procedia PDF Downloads 136

Authors: Hycham Aboutaleb, Bruno Monsuez

Abstract:

Current systems complexity has reached a degree that requires addressing conception and design issues while taking into account all the necessary aspects. Therefore, one of the main challenges is the way complex systems are specified and designed. The exponential growing effort, cost and time investment of complex systems in modeling phase emphasize the need for a paradigm, a framework and a environment to handle the system model complexity. For that, it is necessary to understand the expectations of the human user of the model and his limits. This paper presents a generic framework for designing complex systems, highlights the requirements a system model needs to fulfill to meet human user expectations, and defines the refined functional as well as non functional requirements modeling tools needs to meet to be useful in model-based system engineering.

Keywords: system modeling, modeling language, modeling requirements, framework

Procedia PDF Downloads 516