Search results for: business analytics implementation

Authors: Mikhail V. Khachaturyan

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The article analyzes problems of improving the management systems of the ownership risks in the conditions of the transformation of the Russian economy. Among the main sources of threats business owners should highlight is the inefficiency of the implementation of business models and interaction with hired managers. In this context, it is particularly important to analyze the relationship of business models and ownership risks. The analysis of this problem appears to be relevant for a number of reasons: Firstly, the increased risk appetite of the owner directly affects the business model and the composition of his holdings; secondly, owners with significant stakes in the company are factors in the formation of particular types of risks for owners, for which relations have a significant influence on a firm's competitiveness and ultimately determines its survival; and thirdly, inefficient system of management ownership of risk is one of the main causes of mass bankruptcies, which significantly affects the stable operation of the economy as a whole. The separation of the processes of possession, disposal and use in modern organizations is the cause of not only problems in the process of interaction between the owner and managers in managing the organization as a whole, but also the asymmetric information about the kinds and forms of the main risks. Managers tend to avoid risky projects, inhibit the diversification of the organization's assets, while owners can insist on the development of such projects, with the aim not only of creating new values for themselves and consumers, but also increasing the value of the company as a result of increasing capital. In terms of separating ownership and management, evaluation of projects by the ratio of risk-yield requires preservation of the influence of the owner on the process of development and making management decisions. It is obvious that without a clearly structured system of participation of the owner in managing the risks of their business, further development is hopeless. In modern conditions of forming a risk management system, owners are compelled to compromise between the desire to increase the organization's ability to produce new value, and, consequently, increase its cost due to the implementation of risky projects and the need to tolerate the cost of lost opportunities of risk diversification. Improving the effectiveness of the management of ownership risks may also contribute to the revitalization of creditors on implementation claims to inefficient owners, which ultimately will contribute to the efficiency models of ownership control to exclude variants of insolvency. It is obvious that in modern conditions, the success of the model of the ownership of risk management and audit is largely determined by the ability and willingness of the owner to find a compromise between potential opportunities for expanding the firm's ability to create new value through risk and maintaining the current level of new value creation and an acceptable level of risk through the use of models of diversification.

Keywords: improving, ownership risks, problem, Russia

Procedia PDF Downloads 353

Authors: Zakaria Elkhwesky, Islam E. Salem, Mona Barakat

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The purpose of this study is to analyze the importance of disability management practices (DMPs) and the level of implementation from viewpoints of food and beverage (F & B) managers, F and B entry-level employees, working in F & B departments, and human resources (HRs) managers in five-star hotels in Egypt. It also examined the moderating effect of team orientation (TO) between the importance and the implementation. Data were collected from 400 participants. The correlation proved to be significant, moderate, and positive between the importance and the implementation of DMPs. More, the findings revealed that the relationship between the importance and the implementation is significantly more positive under the condition of a high encouragement of TO.

Keywords: disability management practices, diversity management, team orientation, HR management, hospitality, and tourism operations

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Authors: Aravind Mohan Krishnan

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This paper identifies a research gap in the literature on tourism entrepreneurship in Malawi, Africa, and investigates how entrepreneurs from the Malawian tourism sector discover and exploit business opportunities. In particular, the importance of prior experience and business networks in the opportunity development process is debated. Another area of empirical research examined here is the opportunity recognition-venture creation sequence. While Malawi presents fruitful business opportunities, exploiting these opportunities into fully realized business ideas is a real challenge due to the country’s difficult business environment and poor promotional and marketing efforts. The study concludes by calling for further research in Sub-Saharan Africa in order to develop our understanding of entrepreneurship in this (African) context.

Keywords: entrepreneurship, Malawi, opportunities, tourism

Procedia PDF Downloads 343

Authors: Omran Al Balushi, Haitham Al Rawahi

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Enterprise Asset Management (eAM) has been implemented across different Generation, Transmission and Distribution subsidiaries in Nama Group companies. As part of Nama group, Oman Electricity Transmission Company (OETC) was the first company to implement this system. It was very important for OETC to implement and maintain such a system to achieve its business objectives and for effective operations, which will also support the delivery of the asset management strategy. Enterprise Asset Management (eAM) addresses the comprehensive asset maintenance requirements of Oman Electricity Transmission Company (OETC). OETC needs to optimize capacity and increase utilization, while lowering unit production. E-AM will enable OETC to adopt this strategy. Implementation of e-AM has improved operation performance with preventive and scheduled maintenance as well as it increased safety. Implementation of e-AM will also enable OETC to create optimal asset management strategy which will increase revenue and decrease cost by effectively monitoring operational data such as maintenance history and operation conditions. CMMS (Computerised Maintenance Management System) is the main software and the back-bone of e-AM system. It is used to provide an improved working practice to properly establish information and data flow related to maintenance activities. Implementation of e-AM system was one of the factors that supported OETC to achieve ISO55001 Certificate on fourth quarter of 2016. Also, full implementation of e-AM system will result in strong integration between CMMS and Geographical Information Systems (GIS) application and it will improve OETC to build a reliable maintenance strategy for all asset classes in its Transmission network. In this paper we will share our experience and knowledge of implementing such a system and how it supported OETC’s management to make decisions. Also we would highlight the challenges and difficulties that we encountered during the implementation of e-AM. Also, we will list some features and advantages of e-AM in asset management, preventive maintenance and maintenance cost management.

Keywords: CMMS, Maintenance Management, Asset Management, Maintenance Strategy

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Authors: John Oupa Hlatshwayo

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Background: There seem to be preferred digital business models with varying impacts within hospitality, tourism and catering sub-sectors explored through online commerce, as all are ingrained in the business economics domain. Aim: A study aims to establish if such phenomena (Digital Business Models) exist and to what extent if any, within the hospitality, tourism and catering industries, respectively. Setting: This is a qualitative study conducted by exploring several (Four) institutions globally through Case Studies. Method: This research explored explanatory case studies to answer questions about ‘how’ or ’why’ with little control by a researcher over the occurrence of events. It is qualitative research, deductive, and inductive methods. Hence, a comprehensive approach to analyzing qualitative data was attainable through immersion by reading to understand the information. Findings: The results corroborated the notion that digital business models are applicable, by and large, in business economics. Thus, three sectors wherein enterprises operate in the business economics sphere have been narrowed down i.e. hospitality, tourism and catering, are also referred to as triangular polygons due to the atypical nature of being ‘stand-alone’, yet ‘sub-sectors’, but there are confounding factors to consider. Conclusion: The significance of digital business models and digital transformation shows an inevitable merger between business and technology within Hospitality, Tourism, and Catering. Contribution: Such symbiotic relationship of business and technology, persistent evolution of clients’ interface with end-products, forever changing market, current adaptation as well as adjustment to ‘new world order’ by enterprises must be embraced constantly without fail by Business Practitioners, Academics, Business Students, Organizations and Governments.

Keywords: digital business models, hospitality, tourism, catering, business economics

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Authors: Judith Enriquez-Gibson

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This paper meddles with the notion of phatic communion introduced 90 years ago by Malinowski, who was a Polish-born British anthropologist. It explores the phatic in Twitter within the contents of tweets related to moocs (massive online open courses) as a topic or trend. It is not about moocs though. It is about practices that could easily be hidden or neglected if we let big or massive topics take the lead or if we simply follow the computational or secret codes behind Twitter itself and third party software analytics. It draws from media and cultural studies. Though at first it appears data-driven as I submitted data collection and analytics into the hands of a third party software, Twitonomy, the aim is to follow how phatic communion might be practised in a social media site, such as Twitter. Lurking becomes its research method to analyse mooc-related tweets. A total of 3,000 tweets were collected on 11 October 2013 (UK timezone). The emphasis of lurking is to engage with Twitter as a system of connectivity. One interesting finding is that a click is in fact a phatic practice. A click breaks the silence. A click in one of the mooc website is actually a tweet. A tweet was posted on behalf of a user who simply chose to click without formulating the text and perhaps without knowing that it contains #mooc. Surely, this mechanism is not about reciprocity. To break the silence, users did not use words. They just clicked the ‘tweet button’ on a mooc website. A click performs and maintains connectivity – and Twitter as the medium in attendance in our everyday, available when needed to be of service. In conclusion, the phatic culture of breaking silence in Twitter does not have to submit to the power of code and analytics. It is a matter of human code.

Keywords: click, Twitter, phatic communion, social media data, mooc

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Authors: Abhimanyu Pati, Prabir K. Bandyopadhyay

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The paper intends to highlight the significance of Digital Manufacturing (DM) strategy in support and achievement of business strategy and goals of any manufacturing organization. Towards this end, DM initiatives have been given a process perspective, while not undermining its technological significance, with a view to link its benefits directly with fulfilment of customer needs and expectations in a responsive and cost-effective manner. A digital process model has been proposed to categorize digitally enabled organizational processes with a view to create synergistic groups, which adopt and use digital tools having similar characteristics and functionalities. This will throw future opportunities for researchers and developers to create a unified technology environment for integration and orchestration of processes. Secondly, an effort has been made to apply “what” and “how” features of Quality Function Deployment (QFD) framework to establish the relationship between customers’ needs – both for external and internal customers, and the features of various digital processes, which support for the achievement of these customer expectations. The paper finally concludes that in the present highly competitive environment, business organizations cannot thrive to sustain unless they understand the significance of digital strategy and integrate it with their business strategy with a clearly defined implementation roadmap. A process-oriented approach to DM strategy will help business executives and leaders to appreciate its value propositions and its direct link to organization’s competitiveness.

Keywords: knowledge management, cloud computing, knowledge management approaches, cloud-based knowledge management

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Authors: Saeed Mohammadirad

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Financing activities involve long-term liabilities, stockholders' equity (or owner's equity), and changes to short-term borrowings. Finance is very important for every business activities. To perform the finance we have to follow the accounting languages bases on the nature of the business. If all are one package in the software, it is easy to handle, monitor, control, plan, organize, direct and budget the finance. Let us make a challenge in the computer software for the whole finance packages of every business related activities. In this article, it mentioned about the finance functions in the various levels of the business activities and how it should be maintained properly to avoid the unethical events.

Keywords: financing activities, business activities, computer software, unethical events

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Authors: Naim Ismajli, Ilir Rexhepi

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The article presents the results of the study about the motives and efficiency of quality management system (Quality System, QS) implementation in Kosovo companies. The main purpose of the study was to find out why Kosovo companies seek the implementation and certification of QS in accordance with the requirements of the ISO 9001 series of the standards and what has changed after the QS implementation. Furthermore, the results of the research were compared with similar performed in the other European countries. The performed research revealed that the implementation of QS mostly results in the benefits of an intangible nature that are internal to the company. In addition, although the main reasons to start implementing QS are the expectations of the external advantages, the implementation results mostly in the increase of the internal benefits such as an improvement in the definition of the responsibilities and obligations of the employees, a decrease in the nonconformities, better communication among the employees, and increased efficiency.

Keywords: quality management systems, ISO 9001, total quality management, environmental management system, ISO 14000, competitiveness, efciency

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Authors: Poramet Saeng-On

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The purpose of this study was to investigate the roles of provincial governments and private sectors in managing business resources of Ranong province, Thailand. The sample group of this study included 15 organizations and the tool of the research included interview questions, recording tape, and notes. This study employed a qualitative technique by utilizing in-depth interview and document research techniques. The findings revealed that government and private organizations did not have any direct roles in managing business resources of Ranong Province and did not have any knowledge of the plan to manage business resources. However, all agreed that there should be a plan to manage business resources effectively and efficiently. Moreover, both private and government organizations also agree to cooperate to manage business resources to benefits all stakeholders.

Keywords: business resources, provincial government, roles, non-government organizations

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Authors: Poonsuck Thatchaopas, Nik Kamariah Nik Mat, Nattakarn Eakuru

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“One College One Product” OCOP business model is launched by the Vocational Education Commission to encourage college students to choose at least one product for business venture. However, the number of successful OCOP projects is still minimal. The objective of this paper is to identify the critical success factors needed to be a successful OCOP business entrepreneur. This study uses qualitative method by interviewing business partners of an OCOP business called Crispy Roti Krua Acheeva Brand (CRKAB). This project was initiated by three female alumni students of the CRKAB. The finding shows that the main critical success factors are self-confidence, creativity or innovativeness, knowledge, skills and perseverance. Additionally, they reiterated that the keys to business success are product quality, perceived price, promotion, branding, new packaging to increase sales and continuous developments. The results implies for a business SME to be successful, the company should have credible partners and effective marketing plan.

Keywords: new entrepreneurship student model, business incubator, food industry, Pattani Province, Thailand

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Authors: Marian Sorin Ionescu, Olivia Negoita, Cosmin Dobrin

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This scientific communication reports and discusses learning models adaptable to modern business problems and models specific to digital concepts and paradigms. In the PAC (probably approximately correct) learning model approach, in which the learning process begins by receiving a batch of learning examples, the set of learning processes is used to acquire a hypothesis, and when the learning process is fully used, this hypothesis is used in the prediction of new operational examples. For complex business models, a lot of models should be introduced and evaluated to estimate the induced results so that the totality of the results are used to develop a predictive rule, which anticipates the choice of new models. In opposition, for online learning-type processes, there is no separation between the learning (training) and predictive phase. Every time a business model is approached, a test example is considered from the beginning until the prediction of the appearance of a model considered correct from the point of view of the business decision. After choosing choice a part of the business model, the label with the logical value "true" is known. Some of the business models are used as examples of learning (training), which helps to improve the prediction mechanisms for future business models.

Keywords: machine learning, business models, convex analysis, online learning

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Authors: Krešimir Fertalj, Mladen Matejaš

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In turbulent modern economy, the companies need to properly manage their business processes. Well defined and stable business processes ensure the security of crucial data and application, and provide a quality product or service to the end customer. On the other side constant changes on the market, new regulatory provisions and emerging new technologies require the need of issuing prompt and effective changes of business process. In this article, we explore the use of agile principles in working with business process management (BPM) solutions. We deal with difficulties in BPM development cycle, review the benefits of using agility and choose the basic agile principles that ensure the success of a BPM project.

Keywords: agile development, BPM environment, Kanban, SCRUM, XP

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Authors: Xhevrie Mamaqi

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Organization capacity learning is a process referring to the sum total of individual and collective learning through training programs, experience and experimentation, among others. Today, in-business ongoing training is one of the most important strategies for human capital development and it is crucial to sustain and improve workers’ knowledge and skills. Many organizations, firms and business are adopting a strategy of continuous learning, encouraging employees to learn new skills continually to be innovative and to try new processes and work in order to achieve a competitive advantage and superior business results. This paper uses the Resource Based View and Capacities (RBV) approach to construct a hypothetical relationships model between training and business results. The test of the model is applied on transversal data. A sample of 266 business of Spanish sector service has been selected. A Structural Equation Model (SEM) is used to estimate the relationship between ongoing training, represented by two latent dimension denominated Human and Social Capital resources and economic business results. The coefficients estimated have shown the efficient of some training aspects explaining the variation in business results.

Keywords: business results, human and social capital resources, training, RBV theory, SEM

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Authors: Muhammad Waseem Akram

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The current study attempts to analyze the impact of business constraints on the growth potential and performance of Small and Medium Enterprises (SMEs) in the electrical industry of Pakistan. Primary data have been utilized for the study collected from the electrical industry cluster in Sargodha, Pakistan. OLS regression is used to assess the impact of business constraints on the performance of SMEs by controlling the effect of Technology Level, Innovations, and Firm Size. To associate business constraints with the growth potential of SMEs, the study utilized Tetrachoric Correlation and Logistic Regression. Findings reveal that all the business constraints negatively affect the performance of SMEs in the electrical industry except Political Instability. Results of Tetrachoric Correlation show that all the business constraints are negatively correlated with the growth potential of SMEs. Logistic Regression results show that Energy Constraint, Inflation and Price Instability, and Bad Business Practices, all three business constraints cause to reduce the probability of income growth in sample SMEs.

Keywords: SMEs, business constraints, performance, growth potential

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Authors: Azmi Umar, Rohana Ngah

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The aim of this paper is to examine the relationship of entrepreneurial competencies on business success in the context of Malaysian SMEs. In the recent study, when the business environment is hostile and dynamic, the entrepreneurial competencies are identified as the most important factor in business success. Entrepreneurial competencies are also connected directly to business performance. Beside entrepreneurial competencies, the entrepreneurs should also be competent to create an innovation and brand equity for business growth. The innovation and brand equity contributed to competitive advantages that lead to business growth and success. This paper adopts the Resource Based Theory (RBT) which emphasize that entrepreneurial competencies, innovation and brand equity are valuable and intangible resources that lead towards the success of business; and Brand Equity Creation Process Model (BECPM). A quantitative methodology was used to collect the data from owner/managers of Malaysian SMEs. Data were analyzed by using SPSS and SEM software. Hence, findings of the present study would be essential for owner/managers and strategy makers to enhance the entrepreneurial competencies; innovation and brand equity of SMEs in Malaysia towards global competition.

Keywords: entrepreneurial competencies, innovation, brand equity, business success, SMEs

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Authors: Oghenerume V. Edah, Damilola T. Aladejana

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Entrepreneurship Education is the process of developing and acquiring entrepreneur skills on how to identify a new business and launching the business with the realization of yielding profit optimally. It’s the process of knowing how to take risk and handle challenges that accompanies a new business without the mindset of closing it when it fails. It includes steps to take when a business is recognized, combined with acquiring resources (e.g. finances, labor, land) in the face of risk and launching the new business. Additionally, Entrepreneurship is defined as the ability and willingness to set a business in the event of making profit. It is the act of starting up a business to solve big problems or present a new life-changing solution in the society to generate profit. It’s a process where a business opportunity is identified; planned, acquired and needful steps are taken to launch a business. This involves taking up financial risk, acquiring natural resources, combined with land, capital and building up a team of people who would individually contribute or add value in order to make the new business a success. Moreover, Education is the learning of new skills or value. It’s the acquiring of knowledge and capability of doing new things. It is been able to differentiate what you know and what you don’t know yet. In this modern world, the emergence of entrepreneurship education has been magnificent. An average of 60 percent humans wants to start a business or become an entrepreneur without knowing the steps on how to startup. Moreover, many of them are good starters and they end up failing when the business is not managed well. The introduction of Entrepreneur Education in our world today would change the face of business phenomenally. It would involve the acquisition of entrepreneur skills, knowledge and attitude towards initiating a business venture. The impact of Entrepreneurship Education in our world today would increase the chances of business success because it would generate better entrepreneurs. The skills, values, concept and processes acquired through learning have changed the face of business to a positive direction globally and the impact can be felt. Entrepreneurship can be taught and also can be learnt. Like any skills it can be known.

Keywords: entrepreneurship, education, business, entrepreneur, skills

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Authors: Vani Tanggamani, Azlan Amran

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The issues of Corporate Social Responsibility (CSR) have been extended from developmental economics to corporate and business in recent years. Research in issues related to CSR is deemed to make higher impacts as CSR encourages long-term economy and business success without neglecting social, environmental risks, obligations and opportunities. Therefore, CSR is a key matter for any organisation aiming for long term sustainability since business incorporates principles of social responsibility into each of its business decisions. Thus, this paper presents a theoretical proposition based on stakeholder theory from the organisational perspective as a foundation for better CSR practices. The primary subject of this paper is to explore how looping concept can be effectively embedded into corporate CSR strategy to foster sustainable long term growth. In general, the concept of a loop is a structure or process, the end of which is connected to the beginning, whereas the narrow view of a loop in business field means plan, do, check, and improve. In this sense, looping concept is a blend of balance and agility with the awareness to know when to which. Organisations can introduce similar pull mechanisms by formulating CSR strategies in order to perform the best plan of actions in real time, then a chance to change those actions, pushing them toward well-organized planning and successful performance. Through the analysis of an exploratory study, this paper demonstrates that approaching looping concept in the context of corporate CSR strategy is an important source of new idea to propel CSR practices by deepening basic understanding through the looping concept which is increasingly necessary to attract and retain business stakeholders include people such as employees, customers, suppliers and other communities for long-term business survival. This paper contributes to the literature by providing a fundamental explanation of how the organisations will experience less financial and reputation risk if looping concept logic is integrated into core business CSR strategy.The value of the paper rests in the treatment of looping concept as a corporate CSR strategy which demonstrates "looping concept implementation framework for CSR" that could further foster business sustainability, and help organisations move along the path from laggards to leaders.

Keywords: corporate social responsibility, looping concept, stakeholder theory, sustainable growth

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Authors: Hailemariam Gebremichael Gebretsadik, Abrham Hagos Tesfaslasea

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To satisfy the high need for ICT entrepreneurship and rectify the weak entrepreneurial culture in Ethiopia, the country has established ICT Business incubation centers with the intention of preventing business failures, promoting innovation, and accelerating the growth and success of firms. This study investigates the role of business incubators and social capital on the innovation and growth of firms in Ethiopia. In this research, innovation and growth of firms were considered as dependent variables, whereas business incubation and social capital were treated as independent variables. The researcher employed an e-mail survey among 137 tenant Firms (Firms that joined and/or graduated to/from the Business incubation centers available in Ethiopia) to collect the data and obtained 113 responses that were appropriate for this research. The result of this study reveals that the dimensions of business incubation (physical resource, business support, and networking) have a significant effect on the innovation of Firms, but these dimensions of business incubation do not show a significant effect on the growth of firms. On the other hand, the dimensions of social capital (structural, cognitive, and relational) show a significant positive impact on the likelihood of Firms' growth but not on the innovation of firms. Moreover, the result of this study indicates that the dimensions of business incubation and social capital together have a significant effect on the likelihood of tenant firms innovating and growing.

Keywords: business incubation, innovation, social capital, tenant firms

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Authors: Pia I. Hautamäki

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Sales has changed. Selling has taken on aspects of relationship marketing and sales force play a critical role in developing long-term relationships between buyers and sellers which is seen to serve the company’s targets and create success for a long run. The purpose of this study was to examine what really matters in buyer-seller encounters and determine what expectations business buyers have. We studied 17 business buyers by a qualitative interview. We found that buyers appreciate encounters where the salesperson face the buyer as a way he or she is as a person, identificate the real needs to improve buyers’ business and build up cooperation for long-term relationship. This study show that personality matters are a key elements when satisfying business buyers’ expectations.

Keywords: business buyer-seller encounters, customer expectations, perceived similarity, personal selling, personality types

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Authors: Muhammad Awais Kiani, Abdul Basit Kiani, Maryam Kiani

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Synergizing Sales and Marketing for Electronics Engineering with Web Development, explores the dynamic relationship between sales, marketing, and web development within the electronics engineering industry. This study is important for the power of digital platforms to connect with customers. Which increases brand visibility and drives sales. It highlights the need for collaboration between sales and marketing teams, as well as the integration of web development strategies to create seamless user experiences and effective lead generation. Furthermore, It also emphasizes the role of data analytics and customer insights in optimizing sales and marketing efforts in the ever-evolving landscape of electronics engineering. Sales and marketing play a crucial role in driving business growth, and in today's digital landscape, web development has become an integral part of these strategies. Web development enables businesses to create visually appealing and user-friendly websites that effectively showcase their products or services. It allows for the integration of e-commerce functionalities, enabling seamless online transactions. Furthermore, web development helps businesses optimize their online presence through search engine optimization (SEO) techniques, social media integration, and content management systems. This abstract highlights the symbiotic relationship between sales marketing in the electronics industry and web development, emphasizing the importance of a strong online presence in achieving business success.

Keywords: electronics industry, web development, sales, marketing

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Authors: Ahmed Abdullah, Lyndon Murphy, Brychan Thomas

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Increasingly, in developed and developing countries, small and medium-sized enterprises (SMEs) are becoming more important to national economies due to their strategic significance in developing different industrial sectors Worldwide. SMEs play a major role in an economy by significantly contributing to the enhancement of the countries’ gross domestic product and its labor force by creating more job opportunities and developing skilled labor. Rapid development has been witnessed in the World within different aspects of life, especially the technological revolution such as e-business. This has become a feature of this era requiring us to ‘keep-up’ in our daily society, losing the traditional pattern of our daily lives and combining scientific methodology of an analytical and experimental nature. In the past few years the emergence of e-business and e-commerce in the world has been carefully surveyed. There is widespread use of the internet in every aspect and phase of business.

Keywords: e-business, e-business activities, SMEs, e-adoption ladder

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Authors: Asma Moomal, Maslin Masrom

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The literature has identified that the competition among the business firms has been intensified due to the change in operating environment such as; knowledge diffusion, amount of R&D investments, and the adoption of technological innovation. Correspondingly, the E-business has potential to add a higher value to business and consumers in developed countries than in developing countries. However, the technological innovation (such as e-readiness) also considered as the major influential element on the firms competitiveness and development, Yet most of the developing countries including Pakistan failed to reap the benefits offered by modern information and communication technologies adoption (e-readiness), e-business and other innovative technologies. Thus, this paper reviewed the relevant literature in order to examine the barriers to the adoption of e-readiness and e-business in the organizations of Pakistan. The data collection technique used in this study was done through the secondary data resources (i.e. the existing literature analysis). The result of the study reveals that the most of the organizations of Pakistan like other developing countries are lagging behind in terms of adoption of e-readiness and e-business as compared to the developed countries of the world.

Keywords: e-readiness, e-business, potential, technological innovation

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Authors: Miguel A. Jimenez Barros, Elyn L. Solano Charris, Luis E. Ramirez, Lauren Castro Bolano, Carlos Torres Barreto, Juliana Morales Cubillo

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This project sought to mitigate the high levels of water consumption in industrial processes in accordance with the water-rationing plan promoted at national and international level due to the water consumption projections published by the United Nations. Water consumption has three main uses, municipal (common use), agricultural and industrial where the latter consumes a minimum percentage (around 20% of the total consumption). Awareness on world water scarcity, a Colombian company responsible for generation of massive consumption products, decided to implement politics and techniques for water treatment, recycling, and reuse. The project consisted in a business technology program that permits a better use of wastewater caused by production operations. This approach reduces the potable water consumption, generates better conditions of water in the sewage dumps, generates a positive environmental impact for the region, and is a reference model in national and international levels. In order to achieve the objective, a process flow diagram was used in order to define the industrial processes that required potable water. This strategy allowed the industry to determine a water reuse plan at the operational level without affecting the requirements associated with the manufacturing process and even more, to support the activities developed in administrative buildings. Afterwards, the company made an evaluation and selection of the chemical and biological processes required for water reuse, in compliance with the Colombian Law. The implementation of the business technology program optimized the water use and recirculation rate up to 70%, accomplishing an important reduction of the regional environmental impact.

Keywords: bio-reactor, potable water, reverse osmosis, water treatment

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Authors: Dalia Kubiliūtė

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Lithuania is known as a trusted location for global business institutions, and it attracts investors with it’s competitive environment for financial service providers. Along with the aspiration to offer a strong results-oriented and innovations-driven environment for financial service providers, Lithuanian regulatory authorities consistently implement the European Union's high regulatory standards for financial activities, including sustainability-related disclosures. Since European Union directed its policy towards transition to a climate-neutral, green, competitive, and inclusive economy, additional regulatory requirements for financial market participants are adopted: disclosure of sustainable activities, transparency, prevention of greenwashing, etc. The financial sector is one of the key factors influencing the implementation of sustainability objectives in European Union policies and mitigating the negative effects of climate change –public funds are not enough to make a significant impact on sustainable investments, therefore directing public and private capital to green projects may help to finance the necessary changes. The topic of the study is original and has not yet been widely analyzed in Lithuanian legal discourse. There are used quantitative and qualitative methodologies, logical, systematic, and critical analysis principles; hence the aim of this study is to reveal the problem of the implementation of the regulation on sustainability in the Lithuanian financial sector. Additional regulatory requirements could cause serious changes in financial business operations: additional funds, employees, and time have to be dedicated in order for the companies could implement these regulations. Lack of knowledge and data on how to implement new regulatory requirements towards sustainable reporting causes a lot of uncertainty for financial market participants. And for some companies, it might even be an essential point in terms of business continuity. It is considered that the supervisory authorities should find a balance between financial market needs and legal regulation.

Keywords: financial, legal, regulatory, sustainability

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Authors: Alicia Regodon Puyalto, Alfonso Garcia-Santos

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This article presents a method to analyze the use of indoor spaces based on data analytics obtained from inbuilt digital devices. The study uses the data generated by the in-place devices, such as smart locks, Wi-Fi routers, and electrical sensors, to gain additional insights on space occupancy, user behaviour, and comfort. Those devices, originally installed to facilitate remote operations, report data through the internet that the research uses to analyze information on human real-time use of spaces. Using an in-place Internet of Things (IoT) network enables a faster, more affordable, seamless, and scalable solution to analyze building interior spaces without incorporating external data collection systems such as sensors. The methodology is applied to a real case study of coliving, a residential building of 3000m², 7 floors, and 80 users in the centre of Madrid. The case study applies the method to classify IoT devices, assess, clean, and analyze collected data based on the analysis framework. The information is collected remotely, through the different platforms devices' platforms; the first step is to curate the data, understand what insights can be provided from each device according to the objectives of the study, this generates an analysis framework to be escalated for future building assessment even beyond the residential sector. The method will adjust the parameters to be analyzed tailored to the dataset available in the IoT of each building. The research demonstrates how human-centered data analytics can improve the future spatial design of indoor spaces.

Keywords: in-place devices, IoT, human-centred data-analytics, spatial design

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Authors: Eworo David

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It is dearly evident that a company which does not and will not innovate faces the grave danger of being pushed out of existence. The purpose of this study is to bring to knowledge of companies the significance of capital budgeting in viable project implementation and for proper investment appraisal as regards steps involved in effective investment strategies. The study examines investment policies of Nigeria companies. It deals with an overview of capital budgeting. The analysis covers the data gathered from two multi-national companies in Nigeria. The population of the study was the senior managers and the top management staff of the companies. The system of capital budgeting structure and project implementation styles were compared and contrasted to determine whether the system has MADE or MARRED the development of the organizations. The recommendations contribute towards Nigeria companies to remain and survive in business through the use of capital budgeting.

Keywords: appraisal, budgeting structure, capital budgeting, effective investment strategies

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Authors: Jacky Hau

Abstract:

The prevalence of emerging technologies disrupts various industries as well as consumer behavior. Data collection has been in the fingertip and inherited through enabled Internet-of-things (IOT) devices. Big data analytics (BDA) becomes possible and allows real-time demand network management (DNM) through leagile supply chain. To enhance further on its resilience and predictability, governance is going to be examined to promote supply chain transparency and trust in an efficient manner. Leagility combines lean thinking and agile techniques in supply chain management. It aims at reducing costs and waste, as well as maintaining responsiveness to any volatile consumer demand by means of adjusting the decoupling point where the product flow changes from push to pull. Leagility would only be successful when collaborative planning, forecasting, and replenishment (CPFR) process or alike is in place throughout the supply chain business entities. Governance and procurement of the supply chain, however, is crucial and challenging for the execution of CPFR as every entity has to walk-the-talk generously for the sake of overall benefits of supply chain performance, not to mention the complexity of exercising the polices at both of within across various supply chain business entities on account of organizational behavior and mutual trust. Empirical survey results showed that the effective timespan on demand forecasting had been drastically shortening in the magnitude of months to weeks planning horizon, thus agility shall come first and preferably following by lean approach in a timely manner.

Keywords: governance, leagility, procure-to-pay, source-to-contract

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Authors: James Alberto Ortega Morales, Nelson Andrés Martínez Marín

Abstract:

The bulding industry is one of the most important sectors all around the world in terms of contribution to index like GDP and labor. On the other hand, it is a major contributor to Greenhouse Gases (GHG) and waste generation contributing to global warming. In this sense, it is necessary to establish sustainable practices both from the strategic point of view to the operations point of view as well in all business and industries. Business models don’t scape to this reality attending it´s mediator role between strategy and operations. Business models can turn from the traditional practices searching economic benefits to sustainable bussines models that generate both economic value and value for society and the environment. Recent advances in the analysis of sustainable business models find different classifications that allow finding potential triple bottom line (economic, social and environmental) solutions applicable in every business sector. Into the metioned Advances have been identified, 11 groups and 45 patterns of sustainable business models have been identified; such patterns can be found either in the business models as a whole or found concurrently in their components. This article presents the analysis of a case study, seeking to identify the components and elements that are part of it, using the ECO CANVAS conceptual model. The case study allows showing the concurrent existence of different patterns of business models for sustainability empirically, serving as an example and inspiration for other Latin American companies interested in integrating sustainability into their new and existing business models.

Keywords: sustainable business models, business sustainability, business model patterns, case study, construction industry

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Authors: Asifa Amara, Prachi Singh, Kanishka, Debargho Pathak, Akshat Kumar, Jayakumar Eravelly

Abstract:

Today's generation is totally dependent on technology that uses data as its fuel. The present study is all about innovations and developments in data science and gives an idea about how efficiently to use the data provided. This study will help to understand the core concepts of data science. The concept of artificial intelligence was introduced by Alan Turing in which the main principle was to create an artificial system that can run independently of human-given programs and can function with the help of analyzing data to understand the requirements of the users. Data science comprises business understanding, analyzing data, ethical concerns, understanding programming languages, various fields and sources of data, skills, etc. The usage of data science has evolved over the years. In this review article, we have covered a part of data science, i.e., machine learning. Machine learning uses data science for its work. Machines learn through their experience, which helps them to do any work more efficiently. This article includes a comparative study image between human understanding and machine understanding, advantages, applications, and real-time examples of machine learning. Data science is an important game changer in the life of human beings. Since the advent of data science, we have found its benefits and how it leads to a better understanding of people, and how it cherishes individual needs. It has improved business strategies, services provided by them, forecasting, the ability to attend sustainable developments, etc. This study also focuses on a better understanding of data science which will help us to create a better world.

Keywords: data science, machine learning, data analytics, artificial intelligence

Procedia PDF Downloads 88