Search results for: money market challenges
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 8867

Search results for: money market challenges

6107 Applying Fuzzy Analytic Hierarchy Process for Subcontractor Selection

Authors: Halimi Mohamed Taher, Kordoghli Bassem, Ben Hassen Mohamed, Sakli Faouzi

Abstract:

Textile and clothing manufacturing industry is based largely on subcontracting system. Choosing the right subcontractor became a strategic decision that can affect the financial position of the company and even his market position. Subcontracting firms in Tunisia are lead to define an appropriate selection process which takes into account several quantitative and qualitative criteria. In this study, a methodology is proposed that includes a Fuzzy Analytic Hierarchy Process (AHP) in order to incorporate the ambiguities and uncertainties in qualitative decision. Best subcontractors for two Tunisian firms are determined based on model results.

Keywords: AHP, subcontractor, multicriteria, selection

Procedia PDF Downloads 672
6106 Status of Vocational Education and Training in India: Policies and Practices

Authors: Vineeta Sirohi

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The development of critical skills and competencies becomes imperative for young people to cope with the unpredicted challenges of the time and prepare for work and life. Recognizing that education has a critical role in reaching sustainability goals as emphasized by 2030 agenda for sustainability development, educating youth in global competence, meta-cognitive competencies, and skills from the initial stages of formal education are vital. Further, educating for global competence would help in developing work readiness and boost employability. Vocational education and training in India as envisaged in various policy documents remain marginalized in practice as compared to general education. The country is still far away from the national policy goal of tracking 25% of the secondary students at grade eleven and twelve under the vocational stream. In recent years, the importance of skill development has been recognized in the present context of globalization and change in the demographic structure of the Indian population. As a result, it has become a national policy priority and taken up with renewed focus by the government, which has set the target of skilling 500 million people by 2022. This paper provides an overview of the policies, practices, and current status of vocational education and training in India supported by statistics from the National Sample Survey, the official statistics of India. The national policy documents and annual reports of the organizations actively involved in vocational education and training have also been examined to capture relevant data and information. It has also highlighted major initiatives taken by the government to promote skill development. The data indicates that in the age group 15-59 years, only 2.2 percent reported having received formal vocational training, and 8.6 percent have received non-formal vocational training, whereas 88.3 percent did not receive any vocational training. At present, the coverage of vocational education is abysmal as less than 5 percent of the students are covered by the vocational education programme. Besides, launching various schemes to address the mismatch of skills supply and demand, the government through its National Policy on Skill Development and Entrepreneurship 2015 proposes to bring about inclusivity by bridging the gender, social and sectoral divide, ensuring that the skilling needs of socially disadvantaged and marginalized groups are appropriately addressed. It is fundamental that the curriculum is aligned with the demands of the labor market, incorporating more of the entrepreneur skills. Creating nonfarm employment opportunities for educated youth will be a challenge for the country in the near future. Hence, there is a need to formulate specific skill development programs for this sector and also programs for upgrading their skills to enhance their employability. There is a need to promote female participation in work and in non-traditional courses. Moreover, rigorous research and development of a robust information base for skills are required to inform policy decisions on vocational education and training.

Keywords: policy, skill, training, vocational education

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6105 The Impact of Hybrid Working Models on Employee Engagement

Authors: Sibylle Tellenbach, Julie Haddock-Millar, Francis Bidault

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The aim of this research is to understand the extent to which hybrid working models have influenced employee engagement in the Swiss financial sector. The context for this research is the transition out of the pandemic and the changes that have occurred between 2020 and 2023. Since the pandemic, many financial services companies have had to rethink their working model for office-based employees, as this group of employees has been able to experience a new way of working and, thus, greater freedom and flexibility. For a large number of companies, it was a huge change to shift from the traditional office-based to a new hybrid working model. A heightened focus on employee engagement has become a necessity in order to understand and respond to the challenges presented by the shift in a working model. This new way of working, partly office-based and partly virtual, has led to ambiguities about the impact on the engagement of hybrid teams. Therefore, the research question is: How hybrid working models have influenced employee engagement to what extent? The methodological approach is a narrative inquiry with four similar functional teams within four Swiss financial companies. Semi-structured interviews will be conducted with managers from middle management and their individual team members. The findings will demonstrate whether this shift in the working model influenced individual team members’ engagement and to what extent. The contribution of this research is two-fold. First, the research makes a theoretical contribution, presenting evidence of the impact of hybrid working on individual team members’ engagement in a specific sector and context, enhancing current knowledge on the challenges in working model transition. Second, this research will make a practice-based contribution, recommending ways to enhance the engagement of hybrid teams in a specific context. These recommendations may be applied in wider sectors and teams.

Keywords: employee engagement, hybrid teams, hybrid working models, Swiss financial sector, team engagement

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6104 Groundhog Day as a Model for the Repeating Spectator and the Film Academic: Re-Watching the Same Films Again Can Create Different Experiences and Ideas

Authors: Leiya Ho Yin Lee

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Groundhog Day (Harold Ramis, 1993) may seemingly be a fairly unremarkable Hollywood comedy film in the 90s, it is argued that the film, with its protagonist Phil (Bill Murray), inadvertently, but perfectly, demonstrates an important aspect in filmmaking, film spectatorship and film research: repetition. Very rarely does a narrative film use one, and only one, take in its shooting. The multiple ‘repeats’ of Phil’s various endeavours due to his being trapped in a perpetual loop of the same day — from stealing money and tricking a woman into a casual relationship, to his multiple suicides, to eventually helping people in need — make the process of doing multiple ‘takes’ in filmmaking explicit. But perhaps more significantly, Phil represents a perfect model for the spectator/cinephile who has seen their favourite film for multiple times that they can remember every single detail. Crucially, their favourite film never changes, as it is a recording, but the cinephile’s experience of that very same film is most likely different each time they watch it again, just as Phil’s character and personality has completely transformed, from selfish and egotistic, to depressed and nihilistic, and ultimately to sympathetic and caring, even though he is living the exact same day. Furthermore, the author did not come up with this stimulating juxtaposition of film spectatorship and Groundhog Day the first time the author saw the film; it took the author a few casual re-viewings to notice the film’s self-reflexivity. And then, when working on it in the author’s research, the author had to re-view the film for more times, and have subsequently noticed even more things previously unnoticed. In this way, Groundhog Day not only stands for a model for filmmaking and film spectatorship, it also illustrates the act of academic research, especially in Film Studies where repeatedly viewing the same films is a prerequisite before new ideas and concepts are discovered from old material. This also recalls Deleuze’s thesis on difference and repetition in that repetition creates difference and it is difference that creates thought.

Keywords: narrative comprehension, repeated viewing, repetition, spectatorship

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6103 Teachers' and Learners' Experiences of Learners' Writing in English First Additional Language

Authors: Jane-Francis A. Abongdia, Thandiswa Mpiti

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There is an international concern to develop children’s literacy skills. In many parts of the world, the need to become fluent in a second language is essential for gaining meaningful access to education, the labour market and broader social functioning. In spite of these efforts, the problem still continues. The level of English language proficiency is far from satisfactory and these goals are unattainable by others. The issue is more complex in South Africa as learners are immersed in a second language (L2) curriculum. South Africa is a prime example of a country facing the dilemma of how to effectively equip a majority of its population with English as a second language or first additional language (FAL). Given the multilingual nature of South Africa with eleven official languages, and the position and power of English, the study investigates teachers’ and learners’ experiences on isiXhosa and Afrikaans background learners’ writing in English First Additional Language (EFAL). Moreover, possible causes of writing difficulties and teacher’s practices for writing are explored. The theoretical and conceptual framework for the study is provided by studies on constructivist theories and sociocultural theories. In exploring these issues, a qualitative approach through semi-structured interviews, classroom observations, and document analysis were adopted. This data is analysed by critical discourse analysis (CDA). The study identified a weak correlation between teachers’ beliefs and their actual teaching practices. Although the teachers believe that writing is as important as listening, speaking, reading, grammar and vocabulary, and that it needs regular practice, the data reveal that they fail to put their beliefs into practice. Moreover, the data revealed that learners were disturbed by their home language because when they do not know a word they would write either the isiXhosa or the Afrikaans equivalent. Code-switching seems to have instilled a sense of “dependence on translations” where some learners would not even try to answer English questions but would wait for the teacher to translate the questions into isiXhosa or Afrikaans before they could attempt to give answers. The findings of the study show a marked improvement in the writing performance of learners who used the process approach in writing. These findings demonstrate the need for assisting teachers to shift away from focusing only on learners’ performance (testing and grading) towards a stronger emphasis on the process of writing. The study concludes that the process approach to writing could enable teachers to focus on the various parts of the writing process which can give more freedom to learners to experiment their language proficiency. It would require that teachers develop a deeper understanding of the process/genre approaches to teaching writing advocated by CAPS. All in all, the study shows that both learners and teachers face numerous challenges relating to writing. This means that more work still needs to be done in this area. The present study argues that teachers teaching EFAL learners should approach writing as a critical and core aspect of learners’ education. Learners should be exposed to intensive writing activities throughout their school years.

Keywords: constructivism, English second language, language of learning and teaching, writing

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6102 Ethiopian Textile and Apparel Industry: Study of the Information Technology Effects in the Sector to Improve Their Integrity Performance

Authors: Merertu Wakuma Rundassa

Abstract:

Global competition and rapidly changing customer requirements are forcing major changes in the production styles and configuration of manufacturing organizations. Increasingly, traditional centralized and sequential manufacturing planning, scheduling, and control mechanisms are being found insufficiently flexible to respond to changing production styles and highly dynamic variations in product requirements. The traditional approaches limit the expandability and reconfiguration capabilities of the manufacturing systems. Thus many business houses face increasing pressure to lower production cost, improve production quality and increase responsiveness to customers. In a textile and apparel manufacturing, globalization has led to increase in competition and quality awareness and these industries have changed tremendously in the last few years. So, to sustain competitive advantage, companies must re-examine and fine-tune their business processes to deliver high quality goods at very low costs and it has become very important for the textile and apparel industries to integrate themselves with information technology to survive. IT can create competitive advantages for companies to improve coordination and communication among trading partners, increase the availability of information for intermediaries and customers and provide added value at various stages along the entire chain. Ethiopia is in the process of realizing its potential as the future sourcing location for the global textile and garments industry. With a population of over 90 million people and the fastest growing non-oil economy in Africa, Ethiopia today represents limitless opportunities for international investors. For the textile and garments industry Ethiopia promises a low cost production location with natural resources such as cotton to enable the setup of vertically integrated textile and garment operation. However; due to lack of integration of their business activities textile and apparel industry of Ethiopia faced a problem in that it can‘t be competent in the global market. On the other hand the textile and apparel industries of other countries have changed tremendously in the last few years and globalization has led to increase in competition and quality awareness. So the aim of this paper is to study the trend of Ethiopian Textile and Apparel Industry on the application of different IT system to integrate them in the global market.

Keywords: information technology, business integrity, textile and apparel industries, Ethiopia

Procedia PDF Downloads 342
6101 Marketing and Pharmaceutical Analysis of Medical Cosmetics in Bulgaria and Japan

Authors: V. Petkova, V. Valchanova, D. Grekova, K. Andreevska, S. T. Geurguiev, V. Madgarov, D. Grekov

Abstract:

Introduction: Production, distribution and sale of cosmetics is a global industry, which played a key role in the European Union (EU), the US and Japan. A major participant EU whose market cosmetics is greater than in the US and 2 times greater than that in Japan. The output value of the cosmetics industry in the EU is estimated at about € 35 billion in 2001. Nearly 5 billion cosmetic products (number of packages) are sold annually in the EU, and the main markets are France, Germany, Italy, Spain and the UK. The aim of the study is legal and marketing analysis of cosmetic products dispensed in a pharmacy. Materials and methodology: Historical legislative analysis - the method is applied in the analysis of changes in the legislative regulation of the activities of cosmetic products in Japan and Bulgaria Comparative legislative analysis - the method is applied when comparing the legislative requirements for cosmetic products in the already mentioned countries. Both methods are applied to the following regulations: 1) Japanese Pharmaceuticals Affairs Law, Tokyo, Japan, Ministry of Health, Labour and Welfare; 2) Law on Medicinal Products for Human Use; effective from 3.01.2014. Results: The legislative framework for cosmetic products in Bulgaria and Japan is close and generally includes general guidelines: Definition of a medicinal product; Categorization of drugs (with differences in sub-categories); Pre-registration and marketing approval of the competent authorities; Compulsory compliance with gmp (unlike cosmetics); Regulatory focus on product quality, efficacy and safety; Obligations for labeling of such products; Created systems Pharmacovigilance and commitment of all parties - industry and health professionals; The main similarities in the regulation of products classified as cosmetics are in the following segments: Full producer responsibility for product safety; Surveillance of market regulatory authorities; No need for pre-registration or pre-marketing approval (a basic requirement for notification); Without restrictions on sales channels; GMP manuals for cosmetics; Regulatory focus on product safety (than over efficiency); General requirements in labeling: The main differences in the regulation of products classified as cosmetics are in the following segments: Details in the regulation of cosmetic products; Future convergence of regulatory frameworks can contribute to the removal of barriers to trade, to encourage innovation, while simultaneously ensuring a high level of protection of consumer safety.

Keywords: cosmetics, legislation, comparative analysis, Bulgaria, Japan

Procedia PDF Downloads 581
6100 Building Community through Discussion Forums in an Online Accelerated MLIS Program: Perspectives of Instructors and Students

Authors: Mary H Moen, Lauren H. Mandel

Abstract:

Creating a sense of community in online learning is important for student engagement and success. The integration of discussion forums within online learning environments presents an opportunity to explore how this computer mediated communications format can cultivate a sense of community among students in accelerated master’s degree programs. This research has two aims, to delve into the ways instructors utilize this communications technology to create community and to understand the feelings and experiences of graduate students participating in these forums in regard to its effectiveness in community building. This study is a two-phase approach encompassing qualitative and quantitative methodologies. The data will be collected at an online accelerated Master of Library and Information Studies program at a public university in the northeast of the United States. Phase 1 is a content analysis of the syllabi from all courses taught in the 2023 calendar year, which explores the format and rules governing discussion forum assignments. Four to six individual interviews of department faculty and part time faculty will also be conducted to illuminate their perceptions of the successes and challenges of their discussion forum activities. Phase 2 will be an online survey administered to students in the program during the 2023 calendar year. Quantitative data will be collected for statistical analysis, and short answer responses will be analyzed for themes. The survey is adapted from the Classroom Community Scale Short-Form (CSS-SF), which measures students' self-reported responses on their feelings of connectedness and learning. The prompts will contextualize the items from their experience in discussion forums during the program. Short answer responses on the challenges and successes of using discussion forums will be analyzed to gauge student perceptions and experiences using this type of communication technology in education. This research study is in progress. The authors anticipate that the findings will provide a comprehensive understanding of the varied approaches instructors use in discussion forums for community-building purposes in an accelerated MLIS program. They predict that the more varied, flexible, and consistent student uses of discussion forums are, the greater the sense of community students will report. Additionally, students’ and instructors’ perceptions and experiences within these forums will shed light on the successes and challenges faced, thereby offering valuable recommendations for enhancing online learning environments. The findings are significant because they can contribute actionable insights for instructors, educational institutions, and curriculum designers aiming to optimize the use of discussion forums in online accelerated graduate programs, ultimately fostering a richer and more engaging learning experience for students.

Keywords: accelerated online learning, discussion forums, LIS programs, sense of community, g

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6099 Credit Card Fraud Detection with Ensemble Model: A Meta-Heuristic Approach

Authors: Gong Zhilin, Jing Yang, Jian Yin

Abstract:

The purpose of this paper is to develop a novel system for credit card fraud detection based on sequential modeling of data using hybrid deep learning models. The projected model encapsulates five major phases are pre-processing, imbalance-data handling, feature extraction, optimal feature selection, and fraud detection with an ensemble classifier. The collected raw data (input) is pre-processed to enhance the quality of the data through alleviation of the missing data, noisy data as well as null values. The pre-processed data are class imbalanced in nature, and therefore they are handled effectively with the K-means clustering-based SMOTE model. From the balanced class data, the most relevant features like improved Principal Component Analysis (PCA), statistical features (mean, median, standard deviation) and higher-order statistical features (skewness and kurtosis). Among the extracted features, the most optimal features are selected with the Self-improved Arithmetic Optimization Algorithm (SI-AOA). This SI-AOA model is the conceptual improvement of the standard Arithmetic Optimization Algorithm. The deep learning models like Long Short-Term Memory (LSTM), Convolutional Neural Network (CNN), and optimized Quantum Deep Neural Network (QDNN). The LSTM and CNN are trained with the extracted optimal features. The outcomes from LSTM and CNN will enter as input to optimized QDNN that provides the final detection outcome. Since the QDNN is the ultimate detector, its weight function is fine-tuned with the Self-improved Arithmetic Optimization Algorithm (SI-AOA).

Keywords: credit card, data mining, fraud detection, money transactions

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6098 Access to Livelihoods for Urban Refugees in Kenya: The Case Study of Somalis Living in Eastleigh

Authors: Nancy Njoka, Manuela Ramos Cacciatore

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In Kenya, refugee situations are becoming increasingly protracted, stretching over the years or even decades. As urbanization rates increase, so do the numbers of urban refugees in the country. Refugees living in urban areas face a range of challenges. In their efforts to pursue livelihoods, refugees have identified strategies to confront these challenges. In the same manner, humanitarian actors have come up with different interventions to promote access to livelihoods working through obstacles and barriers created by host governments. This paper seeks to understand the experience of Somali urban refugees living in the urban area of Eastleigh, Nairobi, both by investigating their own actions towards creating avenues to access livelihoods and by understanding their social, economic and policy context in which they forge livelihoods. The empirical data collected through fieldwork in Nairobi in 2020 serves as the basis of this qualitative case study. Drawing upon the themes of urban refugee movement, Somali ethnicity, citizenship discrimination and the livelihoods of refugees, the paper highlights how the actions of the Kenyan government and international non-governmental organization (INGO)s affect access to livelihoods and the consequences of these actions for Somali urban refugees. The results of the paper found that Somali urban refugees are taking active steps to create livelihoods for themselves. This is seen in the growth of Eastleigh as an economic hub in Kenya which is owned and run mostly by Somalis. Indeed, the Somali community is central to the establishment of networks in the neighborhood. Somali urban refugees are marginalized by the Kenyan government, reducing their opportunity to create dignified lives in Eastleigh. Findings also point out the community-based approaches used by INGOs in livelihood interventions. The relevance of this research lies in the interconnection of humanitarian development interventions for protracted refugees and the promotion of livelihoods in an urban and global context.

Keywords: Kenya, livelihoods, Somali, urban refugees

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6097 The Concept of Decentralization: Modern Challenges for the EU Countries, Prospects for Further Implementation in Ukraine

Authors: Alina Murtishcheva

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The tendency of globalization, challenges to democracy and peace caused by the Russian invasion of Ukraine, and other global conflicts require searching general orientations of governmental development, including local government. The formation of a common theoretical framework for local government guarantees not only of harmonisation of European legislation but also creates prerequisites for the integration of new members into the European Union. One of the most important milestones of such a theoretical framework is the concept of decentralization. Decentralization as a phenomenon is characteristic of most European Union countries at different historical stages. For Ukraine, as a country that has clearly defined a European integration vector of development, understanding not only the legal but also the theoretical basis of decentralisation processes in European countries is an important prerequisite for further reforms. Decentralisation takes different forms, which leads to a variety of understandings in doctrine and, consequently, different interpretations in national legislation. Despite of this, decentralisation is based on common ideas and values such as democracy, participation, the rule of law, and proximity government that are shared by all EU member states. Nevertheless, not all EU countries are currently implementing broad decentralization in their political and legal practices. Some countries are gradually moving in this direction, while others remain quite centralised. There is also a new, insufficiently studied trend today – recentralisation, which can be broadly defined as the strengthening of centralization tendencies in countries that were considered to be decentralized. Consequently, an exploratory theoretical study is needed to identify how the concept of decentralization is combined with the recentralization tendency in EU member states. The purpose of this study is to empirically analyse scientific approaches to the concept of “decentralisation”, to highlight the tendency of recentralisation and its consequences, to analyse Ukraine's experience in the field of decentralisation of public power, and to outline the prospects for further development of Ukrainian legislation in this area.

Keywords: centralization, decentralization, local government, recentralization, reforms

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6096 Weapon Collection Initiatives and the Threat of Small Arms and Light Weapons Proliferation in Volatile Areas of North-Eastern Nigeria as a Way Forward for National Security and Development

Authors: Halilu Babaji, Adamu Buba

Abstract:

The proliferation of small arms and light weapons (SALW) and its illicit trafficking in West Africa and Nigeria in particular, pose a major threat to peace, security and development in the Sub-region. The high circulation of these weapons in the region is a product of the interplay of several factors, which derives principally from the internal socio-economic and political dynamics compounded by globalization. The process of globalization has congealed both time and space making it easier for ideas, goods, persons, services, information, products and money to move across borders with fewer restrictions. And this has a negative effect in the entire region making it easier for arms, ammunition, insurgents, criminal and drugs to flow within national boundaries. The failure of public security in most parts of Nigeria has lead communities to indulge in different forms of ‘self-help ‘security measures, ranging from vigilante groups to community-owned arms stockpiling. Having lost confidence in the Nigerian state, parties to some of these conflicts have become entangled in a security dilemma. The quest to procure more arms to guarantee personal and community protection from perceived and real enemies is fuelling the ‘domestic arms race ‘. Therefore, as small arms remain-and proliferate – development is impeded. The impact of SALW on economic well being and national development in Nigeria is of vast significant. Therefore the need to collect these arms in circulation in Nigeria particularly the volatile area of North-east is of very important. This will hopefully contribute to government effort in building a free, secured and peaceful society.

Keywords: arms, development, proliferation, security

Procedia PDF Downloads 300
6095 Segregation of Domestic Solid Waste: An Evidence of Households’ Knowledge, Attitude, Behavior, and Challenges from Manipal, India

Authors: Vidya Pratap, Seena Biju, A. Keshavdev

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The ever-increasing quantity and variety of domestic solid waste pose a major challenge to both households as well as to municipal authorities. In keeping with the Indian Prime Minister’s mission of Swachh Bharat (Clean India), the local municipal administration distributed 2 buckets to each household in a residential colony in Manipal (an educational town in southern India). Households were instructed to segregate their waste into wet and dry waste and keep these buckets at their gate for daily collection. This paper captures the knowledge, attitude, and behavior of 145 households along with the challenges they face in segregating their wastes. Survey representatives self-administered a questionnaire based on 107 variables that gathered demographic details, attitude and behavior constructs, knowledge about waste segregation and method of disposal for organic, recyclable and hazardous wastes. The study used descriptive tools to explore the data. While 95% of the respondents preferred good segregation practices, only 86% of them exhibited such behavior. 88% of the families observed had members who were either graduates or post-graduates whereas only 37% of the families had women who were working. In both attitude and behavior, 63% of the households did not have working women. Also, among those who practiced segregation, 7% were observed to not practice segregation in spite of the lady member being at home (The authors of this study in no way intend to name women as responsible for waste segregation at home; this thought is based on the fact that while in conversation with households, all respondents opined that women lead this activity). The findings of the study are intended to add value to the existing perceptions of the municipality regarding citizen behavior towards policy implementation/improvement. India as a country faces roadblocks at many levels of policy implementation. The findings of this study are meant to contribute/clarify about the Clean India drive.

Keywords: attitude, behavior, knowledge, segregation of domestic waste

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6094 Use Cloud-Based Watson Deep Learning Platform to Train Models Faster and More Accurate

Authors: Susan Diamond

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Machine Learning workloads have traditionally been run in high-performance computing (HPC) environments, where users log in to dedicated machines and utilize the attached GPUs to run training jobs on huge datasets. Training of large neural network models is very resource intensive, and even after exploiting parallelism and accelerators such as GPUs, a single training job can still take days. Consequently, the cost of hardware is a barrier to entry. Even when upfront cost is not a concern, the lead time to set up such an HPC environment takes months from acquiring hardware to set up the hardware with the right set of firmware, software installed and configured. Furthermore, scalability is hard to achieve in a rigid traditional lab environment. Therefore, it is slow to react to the dynamic change in the artificial intelligent industry. Watson Deep Learning as a service, a cloud-based deep learning platform that mitigates the long lead time and high upfront investment in hardware. It enables robust and scalable sharing of resources among the teams in an organization. It is designed for on-demand cloud environments. Providing a similar user experience in a multi-tenant cloud environment comes with its own unique challenges regarding fault tolerance, performance, and security. Watson Deep Learning as a service tackles these challenges and present a deep learning stack for the cloud environments in a secure, scalable and fault-tolerant manner. It supports a wide range of deep-learning frameworks such as Tensorflow, PyTorch, Caffe, Torch, Theano, and MXNet etc. These frameworks reduce the effort and skillset required to design, train, and use deep learning models. Deep Learning as a service is used at IBM by AI researchers in areas including machine translation, computer vision, and healthcare. 

Keywords: deep learning, machine learning, cognitive computing, model training

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6093 Enhancing the Stability of Vietnamese Power System - from Theory to Practical

Authors: Edwin Lerch, Dirk Audring, Cuong Nguyen Mau, Duc Ninh Nguyen, The Cuong Nguyen, The Van Nguyen

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The National Load Dispatch Centre of Electricity Vietnam (EVNNLDC) and Siemens PTI investigated the stability of the electrical 500/220 kV transportation system of Vietnam. The general scope of the investigations is improving the stability of the Vietnam power system and giving the EVNNLDC staff the capability to decide how to deal with expected stability challenges in the future, which are related to the very fast growth of the system. Rapid system growth leads to a very high demand of power transmission from North to South. This was investigated by stability studies of interconnected power system with neighboring countries. These investigations are performed in close cooperation and coordination with the EVNNLDC project team. This important project includes data collection, measurement, model validation and investigation of relevant stability phenomena as well as training of the EVNNLDC staff. Generally, the power system of Vietnam has good voltage and dynamic stability. The main problems are related to the longitudinal system with more power generation in the North and Center, especially hydro power, and load centers in the South of Vietnam. Faults on the power transmission system from North to South risks the stability of the entire system due to a high power transfer from North to South and high loading of the 500 kV backbone. An additional problem is the weak connection to Cambodia power system which leads to interarea oscillations mode. Therefore, strengthening the power transfer capability by new 500kV lines or HVDC connection and balancing the power generation across the country will solve many challenges. Other countermeasures, such as wide area load shedding, PSS tuning and correct SVC placement will improve and stabilize the power system as well. Primary frequency reserve should be increased.

Keywords: dynamic power transmission system studies, blackout prevention, power system interconnection, stability

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6092 Realizing the Rights of Prisoners with Disabilities in Nigeria: A Case Study of Four Lagos State Prisons

Authors: Jacob Bogart, Adaobi Egboka

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Nigeria signed and ratified the Convention on the Rights of Persons with Disabilities in 2010, which was heralded as a much-needed step towards protecting the rights of persons with disabilities (PWDs). However, even with such progress, incarcerated PWDs have been left behind. The current legal framework in Nigeria does not consider the particular challenges PWDs face in prison nor make provisions to address them, despite the need for such reforms. Indeed, given the closed and restricted nature of prisons, and the violence that results from overcrowding, lack of supervision, and poor facilities, prisoners with disabilities often face significant challenges while incarcerated. While every prisoner is affected by these issues, PWDs are disproportionately harmed by them due to the nature of their disability. A study of four prisons in Lagos State, Nigeria was carried out by interviewing prisoners with disabilities, prison officials, advocates, and academics. The study found that for prisoners with physical disabilities, inaccessible prison facilities and a lack of mobility, hearing, or seeing assistance can often cause them to be dependent on the mercy of the other inmates for assistance in performing such basic functions as using the restroom, going to church, or washing themselves. Prison officials do not assist these PWDs or provide them with aids, such as crutches or a cane. Relatedly, prisoners with psychosocial disabilities (mental health conditions) often are not removed to health care facilities, despite a law to that effect, and are left to languish in prisons without the mental health care treatment they need. This presentation argues that reforms addressing the rights of PWDs must consider and make provisions for prisoners with disabilities, such as ensuring that prison facilities are accessible, providing PWDs with mobility, seeing or hearing aids as needed, and conducting mental health screenings for persons awaiting trial immediately upon entering the prison. These reforms, among others, are necessary first steps toward realizing the rights of prisoners with disabilities in Nigeria.

Keywords: disability rights, human rights, Lagos, Nigeria, prisoners with disabilities

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6091 Characterization of Sunflower Oil for Illustration of Its Components

Authors: Mehwish Shahzadi

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Sunflower is cultivated all over the world not only as an ornament plant but also for the purpose of getting oil. It is the third most cultivated plant in the history because its oil considered best for health. The present study deals with the preparation of sunflower oil from commercial seed sample which was obtained from local market. The physicochemical properties of the oil were determined which included saponification value, acid value and ester value. Results showed that saponification value of the oil was 191.675, acid value was 0.64 and ester value to be 191.035 for the sample under observation. GC-MS analysis of sunflower oil was carried out to check its composition. Oleic acid was determined with linoleic acid and isopropyl palmitate. It represents the presence of three major components of sunflower oil. Other compounds detected were, p-toluylic acid, butylated hydroxytoluene, 1,2-benzenedicarboxylic acid, benzoic acid, 2,4,6-trimethyl-, 2,4,6-trimethylphenyl ester and 2,4-decadienal, (E,E).

Keywords: GC-MS, oleic acid, saponification value, sunflower oil

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6090 Optimization of Gold Mining Parameters by Cyanidation

Authors: Della Saddam Housseyn

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Gold, the quintessential noble metal, is one of the most popular metals today, given its ever-increasing cost in the international market. The Amesmessa gold deposit is one of the gold-producing deposits. The first step in our job is to analyze the ore (considered rich ore). Mineralogical and chemical analysis has shown that the general constitution of the ore is quartz in addition to other phases such as Al2O3, Fe2O3, CaO, dolomite. The second step consists of all the leaching tests carried out in rolling bottles. These tests were carried out on 14 samples to determine the maximum recovery rate and the optimum consumption of reagent (NaCN and CaO). Tests carried out on a pulp density at 50% solid, 500 ppm cyanide concentration and particle size less than 0.6 mm at alkaline pH gave a recovery rate of 94.37%.

Keywords: cyanide, DRX, FX, gold, leaching, rate of recovery, SAA

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6089 Hot Forging Process Simulation of Outer Tie Rod to Reduce Forming Load

Authors: Kyo Jin An, Bukyo Seo, Young-Chul Park

Abstract:

The current trend in car market is increase of parts of automobile and weight in vehicle. It comes from improvement of vehicle performance. Outer tie rod is a part of component of steering system and it is lighter than the others. But, weight lightening is still required for improvement of car mileage. So, we have presented a model of aluminized outer tie rod, but the process of fabrication has to be checked to manufacture the product. Therefore, we have anticipated forming load, die stress and abrasion to use the program of forging interpretation in the part of hot forging process of outer tie rod in this study. Also, we have implemented the experiments design to use the table of orthogonal arrays to reduce the forming load.

Keywords: forming load, hot forging, orthogonal array, outer tie rod (OTR), multi–step forging

Procedia PDF Downloads 421
6088 Colloquialism in Audiovisual Translation: English Subtitling of the Lebanese Film Capernaum as a Case Study

Authors: Fatima Saab

Abstract:

This paper attempts to study colloquialism in audio-visual translation, with particular emphasis given to investigating the difficulties and challenges encountered by subtitlers in translating Lebanese colloquial into English. To achieve the main objectives of this study, ample and thorough cultural and translational analysis of examples drawn from the subtitled movie Capernaum are presented in order to identify the strategies used to overcome cultural barriers and differences and to show the process of decision-making by the translator. Also, special attention is given to explain the technicalities in translating subtitles and how they affect the translation process. The research is a descriptive analytical study whereby the writer sets out empirical observations, consisting of descriptive and analytical examination of the difficulties and problems associated with translating Arabic colloquialisms, specifically Lebanese, into English in the subtitled film, Capernaum. The research methodology utilizes a qualitative approach to group the selected data into the subtitling strategies presented by Gottlieb under the domesticating or foreignizing strategies according to Venuti's Model. It is shown that producing the same meanings to a foreign audience is not an easy task. The background of cultural elements and the stories that make up the history and mindset of the Lebanese and Arabic peoples leads to the use of the transfer and paraphrase methodologies most of the time (81% of the sample used for analysis). The research shows that translating and subtitling colloquialism needs special skills by the translators to overcome the challenges imposed by the limited presentation space as well as cultural differences. Translation of colloquial Arabic/Lebanese can be achieved to a certain extent and delivering the meaning and effect of the source language culture is accomplished in as much as the translator investigates and relates to the target culture.

Keywords: Lebanese colloquial, audio-visual translation, subtitling, Capernaum

Procedia PDF Downloads 132
6087 The Need for Innovation Management in the Context of Integrated Management Systems

Authors: Adela Mariana Vadastreanu, Adrian Bot, Andreea Maier, Dorin Maier

Abstract:

This paper approaches the need for innovation management in the context of an existing integrated management system implemented in an organization. The road to success for companies in today’s economic environment is more demanding than ever and the capacity of adapting to the rapid changes is compensatory in order to resist on the market. The managers struggle, daily, with increasingly complex problems, caused by fierce competition in the market but also from the rising demands of customers. Innovation seems to be the solution for these problems. During the last decade almost all companies have been certificated according to various management systems, like quality management system, environmental management system, health and safety management system and others; furthermore many companies have implemented an integrated management system, by integrating two or more management systems. The problem rising today is how to integrate innovation in this integrated management systems. The challenge of the problem is that the development of an innovation management system is in the early phase. In this paper we have studied the possibility of integrating some of the innovation request in an existing management system, we have identify the innovation performance request and we proposed some recommendations regarding innovation management and its implementation as a part of an integrated management system. This paper lies down the bases for developing an model of integration management systems that include innovation as a main part of it. Organizations are becoming more aware of the importance of Integrated Management Systems (IMS). Integrating two or more management systems into an integrated management system can have much advantages.This paper examines various models of management systems integration in accordance with professional references ISO 9001, ISO 18001 and OHSAS 18001, highlighting strengths and weaknesses, creating a basis for future development of integrated management systems, and their involvement in various other processes within the organization, such as innovation management. The more and more demanding economic context emphasizes the awareness of the importance of innovation for organizations. This paper highlights the importance of the innovation for an organization and also gives some practical solution in order to improve the overall success of the business through a better approach of innovation. Various standards have been developed in order to certificate organizations that they respect the requirements. Applying an integrated standards model is shown to be a more effective way then applying the standards independently. The problem that arises is that in order to adopt the integrated version of standards there have to be made some changes at the organizational level. Every change that needs to be done has an effect on its activity, and in this sense the paper tries to deal with the changes needed for adopting an integrated management system and if those changes have an influence over the performance. After the analysis of the results, we can conclude that in order to improve the performance a necessary step is the implementation of innovation in the existing integrated management system.

Keywords: innovation, integrated management systems, innovation management, quality

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6086 The Influence of Fashion Bloggers on the Pre-Purchase Decision for Online Fashion Products among Generation Y Female Malaysian Consumers

Authors: Mohd Zaimmudin Mohd Zain, Patsy Perry, Lee Quinn

Abstract:

This study explores how fashion consumers are influenced by fashion bloggers towards pre-purchase decision for online fashion products in a non-Western context. Malaysians rank among the world’s most avid online shoppers, with apparel the third most popular purchase category. However, extant research on fashion blogging focuses on the developed Western market context. Numerous international fashion retailers have entered the Malaysian market from luxury to fast fashion segments of the market; however Malaysian fashion consumers must balance religious and social norms for modesty with their dress style and adoption of fashion trends. Consumers increasingly mix and match Islamic and Western elements of dress to create new styles enabling them to follow Western fashion trends whilst paying respect to social and religious norms. Social media have revolutionised the way that consumers can search for and find information about fashion products. For online fashion brands with no physical presence, social media provide a means of discovery for consumers. By allowing the creation and exchange of user-generated content (UGC) online, they provide a public forum that gives individual consumers their own voices, as well as access to product information that facilitates their purchase decisions. Social media empower consumers and brands have important roles in facilitating conversations among consumers and themselves, to help consumers connect with them and one another. Fashion blogs have become an important fashion information sources. By sharing their personal style and inspiring their followers with what they wear on popular social media platforms such as Instagram, fashion bloggers have become fashion opinion leaders. By creating UGC to spread useful information to their followers, they influence the pre-purchase decision. Hence, successful Western fashion bloggers such as Chiara Ferragni may earn millions of US dollars every year, and some have created their own fashion ranges and beauty products, become judges in fashion reality shows, won awards, and collaborated with high street and luxury brands. As fashion blogging has become more established worldwide, increasing numbers of fashion bloggers have emerged from non-Western backgrounds to promote Islamic fashion styles, such as Hassanah El-Yacoubi and Dian Pelangi. This study adopts a qualitative approach using netnographic content analysis of consumer comments on two famous Malaysian fashion bloggers’ Instagram accounts during January-March 2016 and qualitative interviews with 16 Malaysian Generation Y fashion consumers during September-October 2016. Netnography adapts ethnographic techniques to the study of online communities or computer-mediated communications. Template analysis of the data involved coding comments according to the theoretical framework, which was developed from the literature review. Initial data analysis shows the strong influence of Malaysian fashion bloggers on their followers in terms of lifestyle and morals as well as fashion style. Followers were guided towards the mix and match trend of dress with Western and Islamic elements, for example, showing how vivid colours or accessories could be worked into an outfit whilst still respecting social and religious norms. The blogger’s Instagram account is a form of online community where followers can communicate and gain guidance and support from other followers, as well as from the blogger.

Keywords: fashion bloggers, Malaysia, qualitative, social media

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6085 Empowering South African Female Farmers through Organic Lamb Production: A Cost Analysis Case Study

Authors: J. M. Geyser

Abstract:

Lamb is a popular meat throughout the world, particularly in Europe, the Middle East and Oceania. However, the conventional lamb industry faces challenges related to environmental sustainability, climate change, consumer health and dwindling profit margins. This has stimulated an increasing demand for organic lamb, as it is perceived to increase environmental sustainability, offer superior quality, taste, and nutritional value, which is appealing to farmers, including small-scale and female farmers, as it often commands a premium price. Despite its advantages, organic lamb production presents challenges, with a significant hurdle being the high production costs encompassing organic certification, lower stocking rates, higher mortality rates and marketing cost. These costs impact the profitability and competitiveness or organic lamb producers, particularly female and small-scale farmers, who often encounter additional obstacles, such as limited access to resources and markets. Therefore, this paper examines the cost of producing organic lambs and its impact on female farmers and raises the research question: “Is organic lamb production the saving grace for female and small-scale farmers?” Objectives include estimating and comparing production costs and profitability or organic lamb production with conventional lamb production, analyzing influencing factors, and assessing opportunities and challenges for female and small-scale farmers. The hypothesis states that organic lamb production can be a viable and beneficial option for female and small-scale farmers, provided that they can overcome high production costs and access premium markets. The study uses a mixed-method approach, combining qualitative and quantitative data. Qualitative data involves semi-structured interviews with ten female and small-scale farmers engaged in organic lamb production in South Africa. The interview covered topics such as farm characteristics, practices, cost components, mortality rates, income sources and empowerment indicators. Quantitative data used secondary published information and primary data from a female farmer. The research findings indicate that when a female farmer moves from conventional lamb production to organic lamb production, the cost in the first year of organic lamb production exceed those of conventional lamb production by over 100%. This is due to lower stocking rates and higher mortality rates in the organic system. However, costs start decreasing in the second year as stocking rates increase due to manure applications on grazing and lower mortality rates due to better worm resistance in the herd. In conclusion, this article sheds light on the economic dynamics of organic lamb production, particularly focusing on its impact on female farmers. To empower female farmers and to promote sustainable agricultural practices, it is imperative to understand the cost structures and profitability of organic lamb production.

Keywords: cost analysis, empowerment, female farmers, organic lamb production

Procedia PDF Downloads 57
6084 Sustainable Composites for Aircraft Cabin Interior Applications

Authors: Fiorenzo Lenzi, Doris Abt, Besnik Bytyqi

Abstract:

Recent developments in composite materials for the interior cabin market provide more sustainable solutions for industrial applications. One contribution comes from epoxy-based prepregs recently developed to substitute phenolic prepregs in order to reduce the environmental impact of their production process and to eliminate health and safety issues related to their handling. Another example is the use of Mica-based products for improving the fire protection of interior cabin parts. Minerals, such as Mica, can be used as reinforcement in composites to reduce the heat release rate or, more traditionally, to improve the burn-through performance of fuselage and cargo lining components.

Keywords: prepreg, epoxy, Mica, battery protection

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6083 The Psychology of Virtual Relationships Provides Solutions to the Challenges of Online Learning: A Pragmatic Review and Case Study from the University of Birmingham, UK

Authors: Catherine Mangan, Beth Anderson

Abstract:

There has been a significant drive to use online or hybrid learning in Higher Education (HE) over recent years. HEs with a virtual presence offer their communities a range of benefits, including the potential for greater inclusivity, diversity, and collaboration; more flexible learning packages; and more engaging, dynamic content. Institutions can also experience significant challenges when seeking to extend learning spaces in this way, as can learners themselves. For example, staff members’ and learners’ digital literacy varies (as do their perceptions of technologies in use), and there can be confusion about optimal approaches to implementation. Furthermore, the speed with which HE institutions have needed to shift to fully online or hybrid models, owing to the COVID19 pandemic, has highlighted the significant barriers to successful implementation. HE environments have been shown to predict a range of organisational, academic, and experiential outcomes, both positive and negative. Much research has focused on the social aspect of virtual platforms, as well as the nature and effectiveness of the technologies themselves. There remains, however, a relative paucity of synthesised knowledge on the psychology of learners’ relationships with their institutions; specifically, how individual difference and interpersonal factors predict students’ ability and willingness to engage with novel virtual learning spaces. Accordingly, extending learning spaces remains challenging for institutions, and wholly remote courses, in particular, can experience high attrition rates. Focusing on the last five years, this pragmatic review summarises evidence from the psychological and pedagogical literature. In particular, the review highlights the importance of addressing the psychological and relational complexities of students’ shift from offline to online engagement. In doing so, it identifies considerations for HE institutions looking to deliver in this way.

Keywords: higher education, individual differences, interpersonal relationships, online learning, virtual environment

Procedia PDF Downloads 161
6082 Ba'albakī's Influence on 1950s and 1960s Lebanese Women Writers

Authors: Khaled Igbaria

Abstract:

While Ba'albakī ceased writing or publishing since 1964, it is considerable and significant to investigate Ba'albakī's influence on others. This paper examines her influence on three Lebanese women writers: Emily Nasrallah, Muná Jabbūr, and Hanan al-Shaykh. However, the aim is not simply to examine the influence of the writer on these three authors, but rather to note similarities and differences in the challenges they faced and the agendas they followed in their fiction writing. For each of these writers, this article will describe elements of their literature, and then sketch out the influence which Ba'albakī has had on them. This paper relies on material from Sidawi because it includes interviews with the female writers discussed that are relevant to the current discussion. Sidawi asked them about Ba'albakī and her influence on them, the challenges they faced, and how they coped with them. This paper points out their comments using their own words. To be clear, examining these writers' notes and works is beyond the scope of this paper. To sum up, there are significant parallels between the life and work of Ba'albakī, and other Lebanese women writers such as Nasrallah, Jabbūr and al-Shaykh. Like Ba'albakī, Nasrallah and al-Shaykh also suffered in their struggle against their families. Nasrallah and al-Shaykh, like Ba'albakī, suffered because their society did not trust in their abilities and creativity. Ba'albakī opted for isolation because of her conflict with patriarchal society including the Lebanese women’s groups, while Nasrallah's isolation was because she preferred individualism and autonomy, and Jabbūr, as could be speculated, was not able to cope with the suffering caused by her role as a woman writer within Lebanese society. Whereas Ba'albakī isolated herself from the Lebanese women’s groups, focusing instead on her feminist writing and joining the Shi'r group, Al-Shaykh and the Lebanese women’s groups are able to cooperate in harmony. Furthermore, while Nasrallah and Al-Shaykh continued to publish fiction, Ba'albakī stopped publishing fiction in 1964. All of the above confirms not only that it is worthy to investigate deeply and academically both the biography and the works of Ba'albakī, but also that she deserves to include her throughout the top great Arab female writers, at the time, like Al-Shaykh and Nawal El Saadawi.

Keywords: feminist writing, Hanan Al-Shaykh, Laylá Ba'albakī, Lebanese women writers, Muná Jabbūr

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6081 Development of Electronic Waste Management Framework at College of Design Art, Design and Technology

Authors: Wafula Simon Peter, Kimuli Nabayego Ibtihal, Nabaggala Kimuli Nashua

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The worldwide use of information and communications technology (ICT) equipment and other electronic equipment is growing and consequently, there is a growing amount of equipment that becomes waste after its time in use. This growth is expected to accelerate since equipment lifetime decreases with time and growing consumption. As a result, e-waste is one of the fastest-growing waste streams globally. The United Nations University (UNU) calculates in its second Global E-waste Monitor 44.7 million metric tonnes (Mt) of e-waste were generated globally in 2016. The study population was 80 respondents, from which a sample of 69 respondents was selected using simple and purposive sampling techniques. This research was carried out to investigate the problem of e-waste and come up with a framework to improve e-waste management. The objective of the study was to develop a framework for improving e-waste management at the College of Engineering, Design, Art and Technology (CEDAT). This was achieved by breaking it down into specific objectives, and these included the establishment of the policy and other Regulatory frameworks being used in e-waste management at CEDAT, the determination of the effectiveness of the e-waste management practices at CEDAT, the establishment of the critical challenges constraining e-waste management at the College, development of a framework for e-waste management. The study reviewed the e-waste regulatory framework used at the college and then collected data which was used to come up with a framework. The study also established that weak policy and regulatory framework, lack of proper infrastructure, improper disposal of e-waste and a general lack of awareness of the e-waste and the magnitude of the problem are the critical challenges of e-waste management. In conclusion, the policy and regulatory framework should be revised, localized and strengthened to contextually address the problem. Awareness campaigns, the development of proper infrastructure and extensive research to establish the volumes and magnitude of the problems will come in handy. The study recommends a framework for the improvement of e-waste.

Keywords: e-waste, treatment, disposal, computers, model, management policy and guidelines

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6080 Public-Private Partnership Projects in Canada: A Case Study Approach

Authors: Samuel Carpintero

Abstract:

Public-private partnerships (PPP) arrangements have emerged all around the world as a response to infrastructure deficits and the need to refurbish existing infrastructure. The motivations of governments for embarking on PPPs for the delivery of public infrastructure are manifold, and include on-time and on-budget delivery as well as access to private project management expertise. The PPP formula has been used by some State governments in United States and Canada, where the participation of private companies in financing and managing infrastructure projects has increased significantly in the last decade, particularly in the transport sector. On the one hand, this paper examines the various ways used in these two countries in the implementation of PPP arrangements, with a particular focus on risk transfer. The examination of risk transfer in this paper is carried out with reference to the following key PPP risk categories: construction risk, revenue risk, operating risk and availability risk. The main difference between both countries is that in Canada the demand risk remains usually within the public sector whereas in the United States this risk is usually transferred to the private concessionaire. The aim is to explore which lessons can be learnt from both models than might be useful for other countries. On the other hand, the paper also analyzes why the Spanish companies have been so successful in winning PPP contracts in North America during the past decade. Contrary to the Latin American PPP market, the Spanish companies do not have any cultural advantage in the case of the United States and Canada. Arguably, some relevant reasons for the success of the Spanish groups are their extensive experience in PPP projects (that dates back to the late 1960s in some cases), their high technical level (that allows them to be aggressive in their bids), and their good position and track-record in the financial markets. The article’s empirical base consists of data provided by official sources of both countries as well as information collected through face-to-face interviews with public and private representatives of the stakeholders participating in some of the PPP schemes. Interviewees include private project managers of the concessionaires, representatives of banks involved as financiers in the projects, and experts in the PPP industry with close knowledge of the North American market. Unstructured in-depth interviews have been adopted as a means of investigation for this study because of its powers to achieve honest and robust responses and to ensure realism in the collection of an overall impression of stakeholders’ perspectives.

Keywords: PPP, concession, infrastructure, construction

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6079 A Needs-Based Top-Down Approach for a Tailor-Made Smart City Roadmap

Authors: Mustafa Eruyar, Ersoy Pehlivan, Fatih Kafalı, Fatih Gundogan

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All megacities are not only under the pressure of common urbanization and growth problems but also dealing with different challenges according to their specific circumstances. However, the majority of cities focuses mainly on popular smart city projects, which are usually driven by strong private sector, regardless of their characteristics, each city needs to develop customized projects within a tailor-made smart city roadmap to be able to solve its own challenges. Smart city manifest, helps citizens to feel the action better than good reading smart city vision statements, which consists of five elements; namely purpose, values, mission, vision, and strategy. This study designs a methodology for smart city roadmap based on a top-down approach, breaking down of smart city manifest to feasible projects for a systematic smart city transformation. This methodology was implemented in Istanbul smart city transformation program which includes smart city literature review, current state analysis, roadmap, and architecture projects, respectively. Istanbul smart city roadmap project followed an extensive literature review of certain leading smart cities around the world and benchmarking of the city’s current state using well known smart city indices. In the project, needs of citizens and service providers of the city were identified via stakeholder, persona and social media analysis. The project aimed to develop smart city projects targeting fulfilling related needs by implementing a gap analysis between current state and foreseen plans. As a result, in 11 smart city domains and enablers; 24 strategic objectives, 50 programs, and 101 projects were developed with the support of 183 smart city stakeholder entities and based on 125 citizen persona profiles and last one-year social media analysis. In conclusion, the followed methodology helps cities to identify and prioritize their needs and plan for long-term sustainable development, despite limited resources.

Keywords: needs-based, manifest, roadmap, smart city, top-down approach

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6078 Consequences of Transformation of Modern Monetary Policy during the Global Financial Crisis

Authors: Aleksandra Szunke

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Monetary policy is an important pillar of the economy, directly affecting on the condition of banking sector. Depending on the strategy may both support functioning of banking institutions, as well as limit their excessively risky activities. The literature studies indicate a large number of publications, which include characteristics of initiatives, implemented by central banks during the global financial crisis and the potential effects of the use of non-standard monetary policy instruments. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. Even before the escalation of instability, Bernanke, Reinhart, and Sack (2004) analyzed the effectiveness of various unconventional monetary tools in lowering long-term interest rates in the United States and Japan. The obtained results largely confirmed the effectiveness of the zero-interest-rate policy and Quantitative Easing (QE) in achieving the goal of reducing long-term interest rates. Japan, considered as the precursor of QE policy, also conducted research about the consequences of non-standard instruments, implemented to restore financial stability of the country. Although the literature about the effectiveness of Quantitative Easing in Japan is extensive, it does not uniquely specify whether it brought permanent effects. The main aim of the study is to identify the implications of non-standard monetary policy, implemented by selected central banks (the Federal Reserve System, Bank of England and European Central Bank), paying particular attention to the consequences into three areas: the size of money supply, financial markets, and the real economy.

Keywords: consequences of modern monetary policy, quantitative easing policy, banking sector instability, global financial crisis

Procedia PDF Downloads 460