Search results for: Islamic finance industry

Authors: Essa Alenazi, Zulfikar Adamu

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The Kingdom of Saudi Arabia (KSA) is not an exception in relying on the growth of its construction industry to support rapid population growth. However, its need for infrastructure development is constrained by low productivity levels and cost overruns caused by factors such as delays to project completion. Delays in delivering a construction project are a global issue and while theories such as Optimism Bias have been used to explain such delays, in KSA, client-related causes of delays are also significant. The objective of this paper is to develop a framework-based approach to explore how the country’s construction industry can manage and reduce delays in construction projects through building information modelling (BIM) in order to mitigate the cost consequences of such delays.  It comprehensively and systematically reviewed the global literature on the subject and identified gaps, critical delay factors and the specific benefits that BIM can deliver for the delay management.  A case study comprising of nine hospital projects that have experienced delay and cost overruns was also carried out. Five critical delay factors related to the clients were identified as candidates that can be mitigated through BIM’s benefits. These factors are: Ineffective planning and scheduling of the project; changes during construction by the client; delay in progress payment; slowness in decision making by the client; and poor communication between clients and other stakeholders. In addition, data from the case study projects strongly suggest that optimism bias is present in many of the hospital projects. Further validation via key stakeholder interviews and documentations are planned.

Keywords: building information modelling (BIM), clients perspective, delay management, optimism bias, public sector projects

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Authors: S. Ping Ho, R. Dahal

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The global economy has drastically changed how firms operate and compete. Although the construction industry is ‘local’ by its nature, the internationalization of the construction industry has become an inevitable reality. As a result of global competition, staying domestic is no longer safe from competition and, on the contrary, to grow and become an MNE (multi-national enterprise) becomes one of the important strategies for a firm to survive in the global competition. For the successful entrance into competing markets, the firms need to re-define their competitive advantages and re-identify the sources of the competitive advantages. A firm’s initiation of internationalization is not necessarily a result of strategic planning but also involves certain idiosyncratic events that pave the path leading to a firm’s internationalization. For example, a local firm’s incidental or unintentional collaboration with an MNE can become the initiating point of its internationalization process. However, because of the intensive competition in today’s global movement, many firms were compelled to initiate their internationalization as a strategic response to the competition. Understandingly stepping in in the process of internationalization and appropriately implementing the strategies (in the process) at different stages lead the construction firms to a successful internationalization journey. This study is carried out to develop a model of the internationalization process, which derives appropriate strategies that the construction firms can implement at each stage. The proposed model integrates two major and complementary views of internationalization and expresses the dynamic process of internationalization in three stages, which are the pre-international (PRE) stage, the foreign direct investment (FDI) stage, and the multi-national enterprise (MNE) stage. The strategies implied in the proposed model are derived, focusing on capability building, market locations, and entry modes based on the resource-based views: value, rareness, imitability, and substitutability (VRIN). With the proposed dynamic process model the potential construction firms which are willing to expand their business market area can be benefitted. Strategies for internationalization, such as core competence strategy, market selection, partner selection, and entry mode strategy, can be derived from the proposed model. The internationalization process is expressed in two different forms. First, we discuss the construction internationalization process, identify the driving factor/s of the process, and explain the strategy formation in the process. Second, we define the stages of internationalization along the process and the corresponding strategies in each stage. The strategies may include how to exploit existing advantages for the competition at the current stage and develop or explore additional advantages appropriate for the next stage. Particularly, the additionally developed advantages will then be accumulated and drive forward the firm’s stage of internationalization, which will further determine the subsequent strategies, and so on and so forth, spiraling up the stages of a higher degree of internationalization. However, the formation of additional strategies for the next stage does not happen automatically, and the strategy evolution is based on the firm’s dynamic capabilities.

Keywords: construction industry, dynamic capabilities, internationalization process, internationalization strategies, strategic management

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Authors: Ghizlane Barzi, Zineb Bamousse

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In an increasingly volatile global economic context characterized by recurring crises, the financial function of companies is called upon to play a strategic role not only in resource management but also in organizational resilience. The emergence of financial technologies (fintech) offers innovative tools capable of transforming this function by enhancing the efficiency of financial processes and increasing companies' ability to adapt and overcome economic shocks. However, despite the rapid rise of fintechs and their growing adoption by companies, there remain uncertainties regarding the real impact of these innovations on the financial resilience of organizations. Indeed, how do fintech-driven innovations transform the financial function, and to what extent does this transformation contribute to strengthening the financial resilience of companies in the face of contemporary crises? This research aims to explore these questions by examining the interrelationships between the financial function, fintech innovations, and corporate resilience, in order to identify optimization levers that could be adopted for better financial risk management.

Keywords: finance, financial function, fintech, resilience, innovation

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Authors: Serkan Kocapinar

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Since June 2014, the extremist terrorist group known as the Islamic State of Iraq and the Levant, with its financial resources, as well as the world’s richest in terms of human resources, is a terrorist organization utilizing the most advanced weapons. It has established a state in the occupied region, appointed provincial and district managers, and declared the so-called Caliphate. Despite being a terrorist organization, it is selling the oil which it has seized from the captured regions with low prices. Consequently, it has been achieving great income from these sales. Currently the actual number of terrorists in the area is around from 20,000 to 31,000 according to the CIA assessment. It is estimated that it has extended its domain beyond from the Middle East to the Asia-Pacific coast and has had millions of supporters worldwide. In addition, it is claimed that it has several sleeper cells in some countries and could perform very catastrophic attacks to the countries fighting against it by activating its cells when necessary. The sharp rise of ISIS in just a year has also attracted the attention of terrorist groups such as Boko Haram around the world and some groups expressed their allegiance to ISIS. With this growing power and influence, ISIS is becoming more and more effective threat for not only the region but also for the entire world. The purpose of this study is to show what lies under the rising of ISIS terror organization and how it affects the security concerns.

Keywords: ISIS, security, terrorism, threats

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Authors: Shaykh-Luqman Jimoh

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In Nigeria, aside the eight Government hospitals designated Psychiatric hospitals, there are also many local psychiatric centers managed by muslims and non-muslim individuals. These centers have been heavily criticized for human right abuses. This study is an inquiry into the truth or otherwise of the criticism. The study focuses on the activities of local centers managed by muslim individuals in South-West Nigeria with a view to determining the extent they uphold or violate their patients’ fundamental human rights as guaranteed by Islam. Information about the activities of the centers were collected through oral interviews. Both descriptive and analytical methods were used in the study. The study revealed that while there are some activities of the local centers managed by muslims in the study area that could be regarded as outright violation of patients’ fundamental human rights, some others, in view of the rationale behind them, may not necessarily constitute outright violation of the patients’ fundamental human rights as hitherto painted except where excesses are committed. The study therefore, using Islamic paradigm, suggests general measures that could be taken to improve on the activities of the centers.

Keywords: local psychiatric centers, muslim exorcists, patients’ rights, South-West Nigeria

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Authors: Masoud Safdari, Jacob Fish

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Despite vast amount of existing theoretical knowledge, the implementation of a universal multiscale modeling, analysis, and simulation software framework remains challenging. Existing multiscale software and solutions are often domain-specific, closed-source and mandate a high-level of experience and skills in both multiscale analysis and programming. Furthermore, tools currently existing for Atomistic-to-Continuum (AtC) multiscaling are developed with the assumptions such as accessibility of high-performance computing facilities to the users. These issues mentioned plus many other challenges have reduced the adoption of multiscale in academia and especially industry. In the current work, we introduce Multiscale Hub (MsHub), an effort towards making AtC more accessible through cloud services. As a joint effort between academia and industry, MsHub provides a universal web-enabled framework for practical multiscaling. Developed on top of universally acclaimed scientific programming language Python, the package currently provides an open-source, comprehensive, easy-to-use framework for AtC coupling. MsHub offers an easy to use interface to prominent molecular dynamics and multiphysics continuum mechanics packages such as LAMMPS and MFEM (a free, lightweight, scalable C++ library for finite element methods). In this work, we first report on the design philosophy of MsHub, challenges identified and issues faced regarding its implementation. MsHub takes the advantage of a comprehensive set of tools and algorithms developed for AtC that can be used for a variety of governing physics. We then briefly report key AtC algorithms implemented in MsHub. Finally, we conclude with a few examples illustrating the capabilities of the package and its future directions.

Keywords: atomistic, continuum, coupling, multiscale

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Authors: Nurin Amalina Widityani, Adinda Syifa Azhari, Twin Aji Kusumagiani, Eleonora Agustine

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Fertilizer industry activities contribute to environmental changes. Changes to the environment became one of a few problems in this era of globalization. Parameters that can be seen as criteria to identify changes in the environment can be seen from the aspects of physics, chemistry, and biology. One aspect that can be assessed quickly and efficiently to describe environmental change is the aspect of physics, one of which is the value of magnetic susceptibility (χ). The rock magnetism method can be used as a proxy indicator of environmental changes, seen from the value of magnetic susceptibility. The rock magnetism method is based on magnetic susceptibility studies to measure and classify the degree of pollutant elements that cause changes in the environment. This research was conducted in the area around the fertilizer plant, with five coring points on each track, each coring point a depth of 15 cm. Magnetic susceptibility measurements were performed by in-situ and ex-situ. In-situ measurements were carried out directly by using the SM30 tool by putting the tools on the soil surface at each measurement point and by that obtaining the value of the magnetic susceptibility. Meanwhile, ex-situ measurements are performed in the laboratory by using the Bartington MS2B tool’s susceptibility, which is done on a coring sample which is taken every 5 cm. In-situ measurement shows results that the value of magnetic susceptibility at the surface varies, with the lowest score on the second and fifth points with the -0.81 value and the highest value at the third point, with the score of 0,345. Ex-situ measurements can find out the variations of magnetic susceptibility values at each depth point of coring. At a depth of 0-5 cm, the value of the highest XLF = 494.8 (x10-8m³/kg) is at the third point, while the value of the lowest XLF = 187.1 (x10-8m³/kg) at first. At a depth of 6-10 cm, the highest value of the XLF was at the second point, which was 832.7 (x10-8m³/kg) while the lowest XLF is at the first point, at 211 (x10-8m³/kg). At a depth of 11-15 cm, the XLF’s highest value = 857.7 (x10-8m³/kg) is at the second point, whereas the value of the lowest XLF = 83.3 (x10-8m³/kg) is at the fifth point. Based on the in situ and exsit measurements, it can be seen that the highest magnetic susceptibility values from the surface samples are at the third point.

Keywords: magnetic susceptibility, fertilizer plant, Bartington MS2B, SM30

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Authors: Rafat Rob, Khaled Alotaibi, Dana Nour, Abdullah Albadrani, Abdulmohsen Mulhim

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Power systems digitization solutions provides a comprehensive smart, cohesive, interconnected network, extensive connectivity between digital assets, physical power plants, and resources to form digital economies. However, digitization has exposed the classical air gapped power plants to the rapid spread of cyber threats and attacks in the process delaying and forcing many organizations to rethink their cyber security policies and standards before they can augment their operation the new advanced digital devices. Cyber Security requirements for power systems (and industry control systems therein) demand a new approach, unique methodology, and design process that is completely different to Cyber Security measures designed for the IT systems. In practice, Cyber Security strategy, as applied to power systems, tends to be closely aligned to those measures applied for IT system purposes. The differentiator for Cyber Security in terms of power systems are the physical assets and applications used, alongside the ever-growing rate of expansion within the industry controls sector (in comparison to the relatively saturated growth observed for corporate IT systems). These factors increase the magnitude of the cyber security risk within such systems. The introduction of smart devices and sensors along the grid initiate vulnerable entry points to the systems. Every installed Smart Meter is a target; the way these devices communicate with each other may instigate a Denial of Service (DoS) and Distributed Denial of Service (DDoS) attack. Attacking one sensor or meter has the potential to propagate itself throughout the power grid reaching the IT network, where it may manifest itself as a malware infiltration.

Keywords: supply chain, cybersecurity, maturity model, risk, smart grid

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Authors: Mohammed Fathima Shahanaaz, Shaik Fayazuddin, M. Uday Kiran

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Groundwater quality is deteriorating day by day in different parts of the world due to various reasons, toxic chemicals are being discharged without proper treatment into inland water bodies and land which in turn add pollutants to the groundwater. In this kind of situation, the rural communities which do not have municipal drinking water have to rely on groundwater though it is polluted for various uses. Tannery industry is one of the major industry which provides economy and employment to India. Since most of the developed countries stopped using chemicals which are toxic, the tanning industry which uses chromium as its major element are being shifted towards developing countries. Most of the tanning industries in India can be found in clusters concentrated mainly in states of Tamilnadu, West Bengal, Uttar Pradesh and limited places of Punjab. Limited work is present in the case of tanneries of Warangal. There exists 18 group of tanneries in Desaipet, Enamamula region of Warangal, out of which 4 are involved in dry process and are low responsible for groundwater pollution. These units of tanneries are discharging their effluents after treatment into Sai Cheruvu. Though the treatment effluents are being discharged, the Sai Cheruvu is turned in to Pink colour, with higher levels of BOD, COD, chromium, chlorides, total hardness, TDS and sulphates. An attempt was made to analyse the groundwater samples around this polluted Sai Cheruvu region since literature shows that a single tannery can pollute groundwater to a radius of 7-8 kms from the point of disposal. Sample are collected from 6 different locations around Sai Cheruvu. Analysis was performed for determining various constituents in groundwater such as pH, EC, TDS, TH, Ca+2, Mg+2, HCO3-, Na+, K+, Cl-, SO42-, NO3-, F and Cr+6. The analysis of these constitutes gave values greater than permissible limits. Even chromium is also present in groundwater samples which is exceeding permissible limits People in Paidepally and Sardharpeta villages already stopped the usage of groundwater. They are buying bottle water for drinking purpose. Though they are not using groundwater for drinking purpose complaints are made about using this water for washing also. So treatment process should be adopted for groundwater which should be simple and efficient. In this study rice husk silica (RHS) is used to treat pollutants in groundwater with varying dosages of RHS and contact time. Rice husk is treated, dried and place in a muffle furnace for 6 hours at 650°C. Reduction is observed in total hardness, chlorides and chromium levels are observed after the application RHS. Pollutants reached permissible limits for 27.5mg/l and 50 mg/l of dosage for a contact time of 130 min at constant pH and temperature.

Keywords: chromium, groundwater, rice husk silica, tanning industries

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Authors: Krish Batra

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The advent of open banking has revolutionized the financial services industry by fostering innovation, enhancing customer experience, and promoting competition. However, this paradigm shift towards more open and interconnected banking ecosystems has introduced complex cybersecurity challenges. This research paper delves into the multifaceted cybersecurity landscape of open banking, highlighting the vulnerabilities and threats inherent in sharing financial data across a network of banks and third-party providers. Through a detailed analysis of recent data breaches, phishing attacks, and other cyber incidents, the paper assesses the current state of cybersecurity within the open banking framework. It examines the effectiveness of existing security measures, such as encryption, API security protocols, and authentication mechanisms, in protecting sensitive financial information. Furthermore, the paper explores the regulatory response to these challenges, including the implementation of standards such as PSD2 in Europe and similar initiatives globally. By identifying gaps in current cybersecurity practices, the research aims to propose a set of robust, forward-looking strategies that can enhance the security and resilience of open banking systems. This includes recommendations for banks, third-party providers, regulators, and consumers on how to mitigate risks and ensure a secure open banking environment. The ultimate goal is to provide stakeholders with a comprehensive understanding of the cybersecurity implications of open banking and to outline actionable steps for safeguarding the financial ecosystem in an increasingly interconnected world.

Keywords: open banking, financial services industry, cybersecurity challenges, data breaches, phishing attacks, encryption, API security protocols, authentication mechanisms, regulatory response, PSD2, cybersecurity practices

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Authors: Kisno Umbar

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Arabic grammar (nahwu) is one of the most important disciplines to learn about the Islamic literature (kitab al-turats). In the last century, learning Arabic grammar was difficult for both the Arabian or non-Arabian native. Most of the traditional nahwu scholars viewed that the theory of amil is a major problem. The views had influenced large number of modern nahwu scholars, and some of them refuse the theory of amil to simplify Arabic grammar to make it easier. The aim of the study is to compare many views of the modern nahwu scholars about the theory of amil including their reasons. In addition, the study is to reveal whether they follow classic scholars or give a view. The author uses literature study approach to get data of modern nahwu scholars from their books as a primary resource. As a secondary resource, the author uses the updated relevant researches from journals about the theory of amil. Besides, the author put on several resources from the traditional nahwu scholars to compare the views. The analysis showed the contrasting views about the theory of amil. Most of the scholars refuse the amil because it isn’t originally derived from Arabic tradition, but it is influenced by Aristotelian philosophy. The others persistently use the amil inasmuch as it is one of the characteristics that differ Arabic language and other languages.

Keywords: Arabic grammar, Amil, Arabic tradition, Aristotelian philosophy

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Authors: Yosra Mefteh Rekik

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A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

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Authors: Sipho Mbatha, Anne Mastament-Mason

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The Multi-Fibre Arrangement (MFA) which regulated all trade in the Apparel Manufacturing Industries (AMI) for four decades was dissolved in 2005. Since 2005, the Apparel Manufacturing Industry of South Africa (AMISA) has been battling to adjust to an environment of liberalised trade, mainly due to strategic, infrastructural and skills factors. In developing competitive advantage strategy for the AMISA, the study aimed to do the following (1) to apply Porter’s diamond model’s determinant “Factor Condition” as framework to develop competitive advantage strategies. (2) Examine the effectiveness of government policy Industrial Policy Action Plan (IPAP 2007) in supporting AMISA. (3) Examine chance events that could be used as bases for competitive advantage strategies for the AMISA. This study found that the lack of advanced skills and poor infrastructure are affecting the competitive advantage of AMISA. The then Clothing, Textiles, Leather and Footwear Sector Education and Training Authority (CTLF-SETA) has also fallen short of addressing the skills gap within the apparel manufacturing industries. The only time that AMISA have shown signs of competitive advantage was when they made use of government grants and incentives available to only compliant AMISA. The findings have shown that the apparel retail groups have shown support for the AMISA by shouldering raw material costs, making it easier to manufacture the required apparel at acceptable lead times. AMISA can compete in low end apparel, provided quick response is intensified, the development of local textiles and raw materials is expedited.

Keywords: compliance rule, apparel manufacturing idustry, factor conditions, advance skills, industrial policy action plan of South Africa

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Authors: Hadjer Didouh, Izzaddine Sameut Bouhaik, Mohammed Hadj Meliani

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This research delves into the intricate dynamics of biofilm adhesion on surfaces, particularly focusing on the widely employed X52 surface in oil and gas industry pipelines. Biofilms, characterized by microorganisms within a self-produced matrix, pose significant challenges due to their detrimental impact on surfaces. Our study integrates advanced molecular techniques and cutting-edge microscopy, such as scanning electron microscopy (SEM), to identify microbial communities and visually assess biofilm adhesion. Simultaneously, we concentrate on the X52 surface, utilizing impedance spectroscopy and potentiodynamic polarization to gather electrochemical responses under various conditions. In conjunction with the broader investigation, we propose a novel approach to mitigate biofilm-induced corrosion challenges. This involves environmentally friendly inhibitors derived from plants, offering a sustainable alternative to conventional chemical treatments. Our inquiry screens and selects inhibitors based on their efficacy in hindering biofilm formation and reducing corrosion rates on the X52 surface. This study contributes valuable insights into the interplay between electrochemical processes and biofilm attachment on the X52 surface. Furthermore, the outcomes of this research have broader implications for the oil and gas industry, where biofilm-related corrosion is a persistent concern. The exploration of eco-friendly inhibitors not only holds promise for corrosion control but also aligns with environmental considerations and sustainability goals. The comprehensive nature of this research aims to enhance our understanding of biofilm dynamics, provide effective strategies for corrosion mitigation, and contribute to sustainable practices in pipeline management within the oil and gas sector.

Keywords: bio-corrosion, biofilm, attachment, X52, metal/bacteria interface

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Authors: Maira Farooq Maneka

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Death has increasingly caused humans to investigate its reality and what lies after it, if something at all, with personal conviction and concern. Till date it remains a matter of speculation. We do not encounter arguments other than ‘faith’ from major world religions when justifying claims about life after death (LAD) as it is an unseen phenomenon. This paper attempts to analyse the Islamic idea of resurrection (after death) and its justification that is distinct from faith but instead contemplative in nature. To do this a legal lens was adopted which allowed the categorisation of selected Quranic arguments under the heading of direct evidence, indirect evidence and intuitive reasoning. Results: Four kinds of direct evidences are discussed under the themes of sleep, droughts, predictions and Quranic challenge. The section of indirect evidences narrows its scope only to two, out of many, broad possible signs that pointed towards the reality of resurrection. These include the signs found in nature such as sun and water as well as signs one finds within the human body such as the creation and function of human fingertips. Finally the last section tries to amalgamate Quran’s appeal to human rationality that facilitates the reader in accepting the possibility of resurrection and hence a final Day of Judgement. These include the notion of accountability, pleasure, pain and human agency.

Keywords: Islam, life after death, Quran, resurrection

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Authors: Michal Friedrich

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Cross-border investment has never been easier than in today’s global economy. Despite recent initiatives tightening the international tax landscape, profit shifting and tax optimization by multinational entities (MNEs) in the context of cross-border M&A remain persistent and complex phenomena that warrant in-depth exploration. By synthesizing the outcomes of existing research, this study aims to first provide a methodological framework for identifying MNEs’ profit-shifting behavior and quantifying its fiscal impacts via various macroeconomic and microeconomic approaches. The study also proposes additional methods and qualitative/quantitative measures for extracting insight into the profit shifting behavior of MNEs in the context of their M&A activities at industry and entity levels. To develop the proposed methods, this study applies the knowledge of international tax laws and known profit shifting conduits (incl. dividends, interest, and royalties) on several model cases/types of cross-border acquisitions and post-acquisition integration activities by MNEs and highlights important factors that encourage or discourage tax optimization. Follow-up research is envisaged to apply the methods outlined in this study on published data on real-world M&A transactions to gain practical country-by-country, industry and entity-level insights. In conclusion, this study seeks to contribute to the ongoing discourse on profit shifting by providing a methodological toolkit for exploring profit shifting tendencies MNEs in connection with their M&A activities and to serve as a backbone for further research. The study is expected to provide valuable insight to policymakers, tax authorities, and tax professionals alike.

Keywords: BEPS, cross-border M&A, international taxation, profit shifting, tax optimization

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Authors: Hadjer Didouh, Mohamed Hadj Meliani, Izzeddine Sameut Bouhaik

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As global demand for natural gas intensifies, Algeria is increasing its production to meet this rising need, placing significant strain on the nation's extensive pipeline infrastructure. Sonatrach, Algeria's national oil and gas company, faces persistent challenges from metal corrosion, particularly microbiologically influenced corrosion (MIC), leading to substantial economic losses. This study investigates the corrosion-inhibiting properties of Calotropis procera extracts, known as karanka, as a sustainable alternative to conventional inhibitors, which often pose environmental risks. The Calotropis procera extracts were evaluated for their efficacy on carbon steel API 5L X52 through electrochemical techniques, including potentiodynamic polarization and electrochemical impedance spectroscopy (EIS), under simulated operational conditions at varying concentrations, particularly at 10%, and elevated temperatures up to 60°C. The results demonstrated remarkable inhibition efficiency, achieving 96.73% at 60°C, attributed to the formation of a stable protective film on the metal surface that suppressed anodic and cathodic corrosion reactions. Scanning electron microscopy (SEM) confirmed the stability and adherence of these protective films, while EIS analysis indicated a significant increase in charge transfer resistance, highlighting the extract's effectiveness in enhancing corrosion resistance. The abundant availability of Calotropis procera in Algeria and its low-cost extraction processes present a promising opportunity for sustainable biocorrosion management strategies in the oil and gas industry, reinforcing the potential of plant-based extracts as viable alternatives to synthetic inhibitors for environmentally friendly corrosion control.

Keywords: corrosion inhibition, calotropis procera, microbiologically influenced corrosion, eco-friendly inhibitor

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Authors: Yassine Bouzouita, Oumaima Belghith, Cyrine Zitoun, Charles Bonneau

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Performance measurement framework (PMF) is an essential tool in any organization to assess the performance of its processes. It guides businesses to stay on track with their objectives and benchmark themselves from the market. With the growing trend of the digital transformation of business processes, led by innovations in artificial intelligence (AI) & Big Data applications, developing a mature system capable of capturing the impact of digital solutions across different industries became a necessity. Based on the conducted research, no such system has been developed in academia nor the industry. In this context, this paper covers a variety of methodologies on performance measurement, overviews the major AI and big data applications in the banking sector, and covers an exhaustive list of relevant metrics. Consequently, this paper is of interest to both researchers and practitioners. From an academic perspective, it offers a comparative analysis of the reviewed performance measurement frameworks. From an industry perspective, it offers exhaustive research, from market leaders, of the major applications of AI and Big Data technologies, across the different departments of an organization. Moreover, it suggests a standardized classification model with a well-defined structure of intelligent digital solutions. The aforementioned classification is mapped to a centralized library that contains an indexed collection of potential metrics for each application. This library is arranged in a manner that facilitates the rapid search and retrieval of relevant metrics. This proposed framework is meant to guide professionals in identifying the most appropriate AI and big data applications that should be adopted. Furthermore, it will help them meet their business objectives through understanding the potential impact of such solutions on the entire organization.

Keywords: AI and Big Data applications, impact assessment, metrics, performance measurement

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Authors: Natalia Ortega

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Safety Culture (SCU) involves various perceptual, psychological, behavioral, and managerial factors. It has been shown that creating and maintaining an SCU is one way to reduce and prevent accidents and fatalities. In the construction sector, safety attitude, knowledge, and a supportive environment are predictors of safety behavior. The highest possible proportion of safety behavior among employees can be achieved by improving their safety attitude and knowledge. Accordingly, top management's commitment to safety is vital in shaping employees' safety attitude; therefore, the first step to improving employees' safety attitude is the genuine commitment of top management to safety. One of the factors affecting the successful implementation of health and safety promotion programs is the construction industry's subcontracting model. The contractual model's complexity, combined with the need for coordination among diverse stakeholders, makes it challenging to implement, manage, and follow up on health and well-being initiatives. The Systems theoretic accident model and process (STAMP) concept has expanded global consideration in recent years, increasing research attention. STAMP focuses attention on the role of constraints in safety management. The findings discover a growth of the research field from the definition in 2004 by Leveson and is being used across multiple domains. A systematic literature review of this novel model aims to meet the safety goals for human space exploration with a powerful and different approach to safety management, safety-driven design, and decision-making. Around two hundred studies have been published about applying the model. However, every single model for safety requires time to transform into research and practice, be tested and debated, and grow further and mature.

Keywords: stamp, risk management, accident prevention, safety culture, systems thinking, construction industry, safety

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Authors: Godiya Atsiya Pius

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The recent dimension of terrorist attacks and violence in West Africa and Nigeria in particular has attracted both academic and global concerns. Children, young girls and women are now victims of violent attacks and insurgency in their own country. Today, we have a reverse situation where women and children were spared during violence in the past. Empirical evidence shows that millions of children, young girls and women are caught up in violent attacks in which they are not merely spectatorial, but victims of circumstance. Some fall victims of a general onslaught against civilians by the drivers of such conflicts. Others die as part of a calculated genocide. Still others are taken as hostages as part of a deliberate attack on them. With particular reference to over 200 Chibok school girls that were abducted by the Boko Haram Islamic sect in Maiduguri, Borno state, Nigeria, this study shall attempt a theoretical exploration of the circumstances surrounding the insurgency attacks on these categories of vulnerable groups in Nigeria. This paper also intends to examine the nature, dimensions, causes, effects as well as implications of these attacks on women and children in West Africa. The paper shall sum up with conclusion and possible recommendations that could help the region in the 21st century and beyond.

Keywords: insurgency, gender, violence, security, vulnerable groups

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Authors: J.P. Henriques, E. R. Neto, G. Almeida, G. Ribeiro, J.V. Coutinho, A.B. Lugli

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Industry 4.0, or the Fourth Industrial Revolution, is transforming the relationship between people and machines. In this scenario, some technologies such as Cloud Computing, Internet of Things, Augmented Reality, Artificial Intelligence, Additive Manufacturing, among others, are making industries and devices increasingly intelligent. One of the most powerful technologies of this new revolution is the Digital Twin, which allows the virtualization of a real system or process. In this context, the present paper addresses the linear and nonlinear dynamic study of a didactic level plant using Digital Twin. In the first part of the work, the level plant is identified at a fixed point of operation, BY using the existing method of least squares means. The linearized model is embedded in a Digital Twin using Automation Studio® from Famous Technologies. Finally, in order to validate the usage of the Digital Twin in the linearized study of the plant, the dynamic response of the real system is compared to the Digital Twin. Furthermore, in order to develop the nonlinear model on a Digital Twin, the didactic level plant is identified by using the method proposed by Hammerstein. Different steps are applied to the plant, and from the Hammerstein algorithm, the nonlinear model is obtained for all operating ranges of the plant. As for the linear approach, the nonlinear model is embedded in the Digital Twin, and the dynamic response is compared to the real system in different points of operation. Finally, yet importantly, from the practical results obtained, one can conclude that the usage of Digital Twin to study the dynamic systems is extremely useful in the industrial environment, taking into account that it is possible to develop and tune controllers BY using the virtual model of the real systems.

Keywords: industry 4.0, digital twin, system identification, linear and nonlinear models

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Authors: Abdullateef Abdulkarim Jimoh, Muhammad Lawal A., Usman Muhammad, Hamisu Abdullahi, Nuhu Abdullahi Jega

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Smart city projects can be aided by urban development policies in public facilities, but economic resources to finance urban system reorganization is an issue to various governments. This is further compounded with the impact of the slowing down of national economies. The aim of this paper is to emphasize the need to prioritize the economic benefits of smart city projects and, specifically, in towns transforming into cities like Birnin kebbi. The smart-city projects can aim at developing a new form of ‘‘modernity and civilization’’ of the productive economy. This study adopts the descriptive statistical approach to identify the key performance indicators (KPI) for tracking the progress of cities and its developmental objectives. It has been established that numerous aspects of the modernization policies can enhance the competitiveness of territories, particular in aspects of social cohesion, the diffusion of knowledge, creativity, accessibility, etc.

Keywords: economy, economic policy, public facilities, smart city, urbanization

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Authors: Jin Woo Hwang, Byung Kwan Oh, Yousok Kim, Hyo Seon Park

Abstract:

As greenhouse effect has been recognized as serious environmental problem of the world, interests in carbon dioxide (CO₂) emission which comprises major part of greenhouse gas (GHG) emissions have been increased recently. Since construction industry takes a relatively large portion of total CO₂ emissions of the world, extensive studies about reducing CO₂ emissions in construction and operation of building have been carried out after the 2000s. Also, performance based design (PBD) methodology based on nonlinear analysis has been robustly developed after Northridge Earthquake in 1994 to assure and assess seismic performance of building more exactly because structural engineers recognized that prescriptive code based design approach cannot address inelastic earthquake responses directly and assure performance of building exactly. Although CO₂ emissions and PBD approach are recent rising issues on construction industry and structural engineering, there were few or no researches considering these two issues simultaneously. Thus, the objective of this study is to minimize the CO₂ emissions and cost of building designed by PBD approach in structural design stage considering structural materials. 4 story and 4 span reinforced concrete building optimally designed to minimize CO₂ emissions and cost of building and to satisfy specific seismic performance (collapse prevention in maximum considered earthquake) of building satisfying prescriptive code regulations using non-dominated sorting genetic algorithm-II (NSGA-II). Optimized design result showed that minimized CO₂ emissions and cost of building were acquired satisfying specific seismic performance. Therefore, the methodology proposed in this paper can be used to reduce both CO₂ emissions and cost of building designed by PBD approach.

Keywords: CO2 emissions, performance based design, optimization, sustainable design

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Authors: Amrial, Yuri Oktaviani, Ziyan Muhammad Farhan

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On the phase of shifting paradigm into sustainability, Indonesia is involved in Sustainable Development Goals (SDGs) project. That act is revealed by creating Medium and Long Term Roadmap for Sustainable Finance in Indonesia which collaborated design by Indonesia Financial Service Board (OJK) and Ministry of Environment and Forestry. One of alternative for that infrastructure financing is sharia-based financing, Green Sukuk (Sukuk specified on sustainable infrastructure project). Green Sukuk for infrastructure financing in Indonesia can be issued by the government in the form of Sukuk Project Financing. Moreover, banks in Indonesia can also participate for the issuance of Green Sukuk. So that the banks can create a financing for people who are concerned about environmental issues. By using qualitative methods and literature review, this paper aims to discuss potential, strategy and planning of Green Sukuk for financing sustainable infrastructure in the purpose of SDGs. This paper will benefit for government to give scientific discussion on the strategy of Green Sukuk in promoting sustainable goals infrastructure project in Indonesia.

Keywords: green sukuk, infrastructure, SDGs, sustainable

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Authors: Hsuan Yu Lai, Hsuan Hsuan Chang

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The consumer decision process steps through problems by weighing evidence, examining alternatives, and choosing a decision path. Currently, the COVID 19 made the tourism industry encounter a huge challenge and suffer the biggest amount of economic loss. It would be very important to reexamine the decision-making process model, especially after the pandemic, and consider the differences among different generations. The tourism industry has been significantly impacted by the global outbreak of COVID-19, but as the pandemic subsides, the sector is recovering. This study addresses the scarcity of research on travel decision-making patterns among generations in Taiwan. Specifically targeting individuals who frequently traveled abroad before the pandemic, the study explores differences in decision-making at different stages post-outbreak. So this study investigates differences in travel decision-making among individuals from different generations during/after the COVID-19 pandemic and examines the moderating effects of social media usage and individuals' perception of health risks. The study hypotheses are “there are significant differences in the decision-making process including travel motivation, information searching preferences, and criteria for decision-making” and that social-media usage and health-risk perception would moderate the results of the previous study hypothesis. The X, Y, and Z generations are defined and categorized based on a literature review. The survey collected data including their social-economic background, travel behaviors, motivations, considerations for destinations, travel information searching preferences, and decision-making criteria before/after the pandemic based on the reviews of previous studies. Data from 656 online questionnaires were collected between January to May 2023 and from Taiwanese travel consumers who used to travel at least one time abroad before Covid-19. SPSS is used to analyze the data with One-Way ANOVA and Two-Way ANOVA. The analysis includes demand perception, information gathering, alternative comparison, purchase behavior, and post-travel experience sharing. Social media influence and perception of health risks are examined as moderating factors. The findings show that before the pandemic, the Y Generation preferred natural environments, while the X Generation favored historical and cultural sites compared to the Z Generation. However, after the outbreak, the Z Generation displayed a significant preference for entertainment activities. This study contributes to understanding changes in travel decision-making patterns following COVID-19 and the influence of social media and health risks. The findings have practical implications for the tourism industry.

Keywords: consumer decision-making, generation study, health risk perception, post-pandemic era, social media

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Authors: R. Saravanakumar, A. Siva, R. Banupriya, K. Balasubramanian

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Slurry infiltrated fibrous concrete (SIFCON) is one of the recently developed construction material that can be considered as a special type of high performance fibre reinforced concrete (HPFRC) with higher fibre content. Fibre reinforced concrete is essentially a composite material in which fibres out of waste having higher modulus of elasticity. SIFCON is a special type of high fibrous concrete and it is having a high cementious content and sand. The matrix usually consists of cement-sand slurry or fluent mortar. The construction industry is in need of finding cost effective materials for increasing the strength of concrete structures hence an endeavour has been made in the present investigations to study the influence of addition of waste material like Lathe waste from workshop at different dosages to the total weight of concrete. The waste of steel scrap material which is available from the lathe is used as a steel fibre for innovative construction industry. To get sustainable and environmental benefits, lathe scrap as recycled fibres with concrete are likely to be used. An experimental program was carried out to investigate the flexural behavior of Slurry infiltrated fibrous concrete (SIFCON) in which the fibres having an aspect ratio of 100 is used. The investigations were done using M25 mix and tests were carried out as per recommended procedures by appropriate codes. SIFCON specimens with 8%, 10% and 12% volume of fraction fibres are used in this study. Test results were presented in comparison of SIFCON with and without conventional steel reinforcement. The load carrying capacity of SIFCON specimen is higher than conventional concrete and it also reduced crack width. In the SIFCON specimen less number of cracks as compared with conventional concrete.

Keywords: SIFCON, lathe waste, RCC, fibre volume, flexural behaviour

Procedia PDF Downloads 316

Authors: Maico R. Severino, Laura G. Caixeta, Nadine M. Costa, Raísa L. T. Napoleão, Éverton F. V. Valle, Diego D. Calixto, Danielle Oliveira

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One of the biggest barriers that companies find nowadays is the coordination of production flow in their Supply Chains (SC). In this study, coordination is understood as a mechanism for incorporating the entire production channel, with everyone involved focused on achieving the same goals. Sometimes, this coordination is attempted by the use of logistics practices or production plan and control methods. No papers were found in the literature that presented the combined use of logistics practices and production plan and control methods. The main objective of this paper is to propose solutions for six case studies combining logistics practices and Ordering Systems (OS). The methodology used in this study was a conceptual model of decision making. This model contains six phases: a) the analysis the types and characteristics of relationships in the SC; b) the choice of the OS; c) the choice of the logistics practices; d) the development of alternative proposals of combined use; e) the analysis of the consistency of the chosen alternative; f) the qualitative and quantitative assessment of the impact on the coordination of the production flow and the verification of applicability of the proposal in the real case. This study was conducted on six Brazilian SC of different sectors: footwear, food and beverages, garment, sugarcane, mineral and metal mechanical. The results from this study showed that there was improvement in the coordination of the production flow through the following proposals: a) for the footwear industry the use of Period Bath Control (PBC), Quick Response (QR) and Enterprise Resource Planning (ERP); b) for the food and beverage sector firstly the use of Electronic Data Interchange (EDI), ERP, Continuous Replenishment (CR) and Drum-Buffer-Rope Order (DBR) (for situations in which the plants of both companies are distant), and secondly EDI, ERP, Milk-Run and Review System Continues (for situations in which the plants of both companies are close); c) for the garment industry the use of Collaborative Planning, Forecasting, and Replenishment (CPFR) and Constant Work-In-Process (CONWIP) System; d) for the sugarcane sector the use of EDI, ERP and CONWIP System; e) for the mineral processes industry the use of Vendor Managed Inventory (VMI), EDI and MaxMin Control System; f) for the metal mechanical sector the use of CONWIP System and Continuous Replenishment (CR). It should be emphasized that the proposals are exclusively recommended for the relationship between client and supplier studied. Therefore, it cannot be generalized to other cases. However, what can be generalized is the methodology used to choose the best practices for each case. Based on the study, it can be concluded that the combined use of OS and logistics practices enable a better coordination of flow production on SC.

Keywords: supply chain management, production flow coordination, logistics practices, ordering systems

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Authors: M. Çevik, S. Sabancı, D. Tezcan, C. Çelebi, F. İçier

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Ultrasound technology is the one of the non-thermal food processing method in recent years which has been used widely in the food industry. Ultrasound application in the food industry is divided into two groups: low and high intensity ultrasound application. While low intensity ultrasound is used to obtain information about physicochemical properties of foods, high intensity ultrasound is used to extract bioactive components and to inactivate microorganisms and enzymes. In this study, the ultrasound pre-treatment at a constant power (1500 W) and fixed frequency (20 kHz) was applied to the red beetroot slices having the dimension of 25×25×50 mm at the constant temperature (25°C) for different application times (0, 5, 10, 15 and 20 min). The red beet root slices pretreated with ultrasonication was squeezed immediately. The changes on rheological properties of red beet root juice depending on ultrasonication duration applied to slices were investigated. Rheological measurements were conducted by using Brookfield viscometer (LVDV-II Pro, USA). Shear stress-shear rate data was obtained from experimental measurements for 0-200 rpm range by using spindle 18. Rheological properties of juice were determined by fitting this data to some rheological models (Newtonian, Bingham, Power Law, Herschel Bulkley). It was investigated that the best model was Power Law model for both untreated red beet root juice (R2=0.991, χ2=0.0007, RMSE=0.0247) and red beetroot juice produced from ultrasonicated slices (R2=0.993, χ2=0.0006, RMSE=0.0216 for 20 min pre-treatment). k (consistency coefficient) and n (flow behavior index) values of red beetroot juices were not affected from the duration of ultrasonication applied to the slices. Ultrasound treatment does not result in any changes on the rheological properties of red beetroot juice. This can be explained by lack of ability to homogenize of the intensity of applied ultrasound.

Keywords: ultrasonication, rheology, red beet root slice, juice

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Authors: Nonso Ochinanwata, Patrick Oseloka Ezepue

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This paper explores challenges and prospects in Nigerian higher education. The paper develops an integrated business model that aimed to innovate Nigeria higher education system. A survey and semi-structured interview among Nigerian higher education academics, students and graduates are used to explore the challenges and prospects. The study provides a comparison between lecturers, students and graduates opinions to evaluate challenges and prospects in Nigerian higher institutions. The study found to achieve efficient and effectiveness innovation in Nigerian higher education, there is a need for higher institutions to collaborate with industry professionals and other stakeholders such as company management, and government policy makers in designing higher education institutions curricula. The study found that the curriculum design and delivery need to blend theoretical understanding and real-life experience from industry, and with social cultural influences related to Nigerian environment. This will enable lecturers to organise their teaching and assessments such that students can learn around theoretical and practical study themes. The curriculum design and delivery need to link the core ideas to challenging problems in society, nationally and globally. Hence, this approach will support business start-ups and social entrepreneurship which resolve key societal problems. The study suggests that higher education executives, directors, deans, head of departments, and even individual academics need to emulate innovative business managers to create value-adding products and services from innovative research and academic work.

Keywords: higher education, curriculum innovation, business model innovation, teaching and research excellence, economic development

Procedia PDF Downloads 271

Authors: Jorge M. Uribe

Abstract:

We propose a methodology for setting the price of an insurance contract targeted to manage the risk associated with weather conditions that affect variable renewable energy generation. The methodology relies on conditional quantile regressions to estimate the weather risk of a solar panel. It is illustrated using real daily radiation and weather data for three cities in Spain (Valencia, Barcelona and Madrid) from February 2/2004 to January 22/2019. We also adapt the concepts of value at risk and expected short fall from finance to this context, to provide a complete panorama of what we label as weather risk. The methodology is easy to implement and can be used by insurance companies to price a contract with the aforementioned characteristics when data about similar projects and accurate cash flow projections are lacking. Our methodology assigns a higher price to an insurance product with the stated characteristics in Madrid, compared to Valencia and Barcelona. This is consistent with Madrid showing the largest interquartile range of operational deficits and it is unrelated to the average value deficit, which illustrates the importance of our proposal.

Keywords: insurance, weather, vre, risk

Procedia PDF Downloads 148