Search results for: investment project risks
4800 Financial Sources and Instruments for Public Grants and Financial Facilities of SMEs in Eu
Authors: Simeon Karafolas, Maciej Woźniak
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Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds. Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources. Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund. The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.Keywords: DIFASS, grants, SMEs, public financing
Procedia PDF Downloads 3124799 Teaching Entrepreneurship in Light of the Triple Bottom Line
Authors: Sherry Robinson, Hans Anton Stubberud
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Entrepreneurship can take many forms. Traditional entrepreneurs seek profits and growth for the businesses they start themselves. Intrapreneurs act entrepreneurially within a business they do not own. Social entrepreneurs have goals other than (but not excluding) profit and growth as they seek to solve social problems or protect the environment. This type of entrepreneur often focuses on the triple bottom line, which includes a concern for people and the planet as well as profit. Ecopreneurs in particular are driven by their desire to create and promote environmentally sustainable products and processes. All of these entrepreneurs need an entrepreneurial orientation in order to survive and thrive. The three most common elements of an entrepreneurial orientation are (1) creativity and innovation, (2) the willingness to take risks and (3) the proactiveness to put ideas into action. This study describes an interdisciplinary entrepreneurship course integrating topics regarding the triple bottom line with those relevant to an entrepreneurial orientation. The results show that students significantly increased their skill levels in many areas, including soft skills such as communicating and working in teams, as well as designing innovative products and taking calculated risk.Keywords: creativity, entrepreneurship education, sustainability, triple bottom line
Procedia PDF Downloads 4784798 Smoking Elevates the Risk of Dysbiosis Associated with Dental Decay
Authors: Razia Hossaini, Maryam Hosseini
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Background and Objective: The impact of smoking on the shift in oral microbial composition has been questioned. This study aims to compare the oral microbiome between Turkish patients with dental caries and healthy individuals. Materials and Methods: An observational case-control study was conducted from January to June 2024, involving 270 young adults (180 with dental caries and 90 healthy controls). Participants were matched by age, gender, education, sugar consumption, and tooth brushing habits. Oral samples were collected using sterilized swabs and preserved in a PBS-glycerol solution. The cultured bacterial samples were characterized based on their morphological characteristics, Gram staining properties, hemolysis patterns, and biochemical tests including methyl red, sugar fermentation, Simmons citrate utilization, coagulase production, and catalase activity. These tests were conducted to accurately identify the bacterial species present. Subsequently, the relationship between smoking and oral health was evaluated, with a particular focus on assessing the smoking-induced changes in the composition of the oral microbiota using statistical analyses. Results: The study’s results demonstrate a clear association between smoking and an increased risk of dental caries, as well as significant shifts in the oral microbiota of smokers (p=0.04). These findings emphasize the critical need for public health initiatives that target smoking cessation as a means of improving oral health outcomes. Since smokers are 1.28 times more likely to develop dental caries than non-smokers, public health campaigns should incorporate messages that highlight the direct impact of smoking on oral health, alongside the well-established risks such as lung disease and cardiovascular conditions.The observed alterations in the oral microbiota—specifically the higher prevalence of pathogens like Escherichia coli, Pseudomonas aeruginosa, Streptococcus mutans, and Lactobacillus acidophilus in patients with dental caries—suggest that smoking not only predisposes individuals to dental decay but also creates an environment conducive to the growth of harmful bacteria. Public health interventions could therefore focus on the dual benefit of smoking cessation: reducing the incidence of dental caries and restoring a healthier oral microbiome. Additionally, the reduced presence of beneficial or less pathogenic species such as Neisseria and Micrococcus luteus in smokers implies that smoking alters the protective balance of the oral microbiome. This further underscores the importance of preventive oral health strategies tailored to smokers. Conclusion: Smoking significantly impacts oral health by promoting dysbiosis, increasing cariogenic bacteria, and reducing beneficial bacteria, which contributes to the development of dental caries. These findings highlight the need for integrated public health efforts that address both smoking cessation and oral health promotion. By raising awareness of the specific oral health risks associated with smoking, public health initiatives could help reduce the burden of dental caries and other smoking-related oral diseases, ultimately improving quality of life for individuals and reducing healthcare costs.Keywords: smoking, dysbiosis, bacteria, oral health, dental decay
Procedia PDF Downloads 234797 The Relationship Between Car Drivers' Background Information and Risky Events In I- Dreams Project
Authors: Dagim Dessalegn Haile
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This study investigated the interaction between the drivers' socio-demographic background information (age, gender, and driving experience) and the risky events score in the i-DREAMS platform. Further, the relationship between the participants' background driving behavior and the i-DREAMS platform behavioral output scores of risky events was also investigated. The i-DREAMS acronym stands for Smart Driver and Road Environment Assessment and Monitoring System. It is a European Union Horizon 2020 funded project consisting of 13 partners, researchers, and industry partners from 8 countries. A total of 25 Belgian car drivers (16 male and nine female) were considered for analysis. Drivers' ages were categorized into ages 18-25, 26-45, 46-65, and 65 and older. Drivers' driving experience was also categorized into four groups: 1-15, 16-30, 31-45, and 46-60 years. Drivers are classified into two clusters based on the recorded score for risky events during phase 1 (baseline) using risky events; acceleration, deceleration, speeding, tailgating, overtaking, and lane discipline. Agglomerative hierarchical clustering using SPSS shows Cluster 1 drivers are safer drivers, and Cluster 2 drivers are identified as risky drivers. The analysis result indicated no significant relationship between age groups, gender, and experience groups except for risky events like acceleration, tailgating, and overtaking in a few phases. This is mainly because the fewer participants create less variability of socio-demographic background groups. Repeated measure ANOVA shows that cluster 2 drivers improved more than cluster 1 drivers for tailgating, lane discipline, and speeding events. A positive relationship between background drivers' behavior and i-DREAMS platform behavioral output scores is observed. It implies that car drivers who in the questionnaire data indicate committing more risky driving behavior demonstrate more risky driver behavior in the i-DREAMS observed driving data.Keywords: i-dreams, car drivers, socio-demographic background, risky events
Procedia PDF Downloads 734796 Improving Automotive Efficiency through Lean Management Tools: A Case Study
Authors: Raed El-Khalil, Hussein Zeaiter
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Managing and improving efficiency in the current highly competitive global automotive industry demands that companies adopt leaner and more flexible systems. During the past 20 years the domestic automotive industry in North America has been focusing on establishing new management strategies in order to meet market demands. 98The lean management process also known as Toyota Manufacturing Process (TPS) or lean manufacturing encompasses tools and techniques that were established in order to provide the best quality product with the fastest lead time at the lowest cost. The following paper presents a study that focused on improving labor efficiency at one of the Big Three (Ford, GM, Chrysler LLC) domestic automotive facility in North America. The objective of the study was to utilize several lean management tools in order to optimize the efficiency and utilization levels at the “Pre-Marriage” chassis area in a truck manufacturing and assembly facility. Utilizing three different lean tools (i.e. Standardization of work, 7 Wastes, and 5S) this research was able to improve efficiency by 51%, utilization by 246%, and reduce operations by 14%. The return on investment calculated based on the improvements made was 284%.Keywords: lean manufacturing, standardized work, operation efficiency, utilization
Procedia PDF Downloads 5324795 On the Effectiveness of Electricity Market Development Strategies: A Target Model for a Developing Country
Authors: Ezgi Avci-Surucu, Doganbey Akgul
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Turkey’s energy reforms has achieved energy security through a variety of interlinked measures including electricity, gas, renewable energy and energy efficiency legislation; the establishment of an energy sector regulatory authority; energy price reform; the creation of a functional electricity market; restructuring of state-owned energy enterprises; and private sector participation through privatization and new investment. However, current strategies, namely; “Electricity Sector Reform and Privatization Strategy” and “Electricity Market and Supply Security Strategy” has been criticized for various aspects. The present paper analyzes the implementation of the aforementioned strategies in the framework of generation scheduling, transmission constraints, bidding structure and general aspects; and argues the deficiencies of current strategies which decelerates power investments and creates uncertainties. We conclude by policy suggestions to eliminate these deficiencies in terms of price and risk management, infrastructure, customer focused regulations and systematic market development.Keywords: electricity markets, risk management, regulations, balancing and settlement, bilateral trading, generation scheduling, bidding structure
Procedia PDF Downloads 5574794 Cybersecurity Breaches and Audit Outcomes
Authors: Sara Dehaiman Alqahtani
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Cybersecurity breaches present significant operational, reputational, and financial challenges, raising questions about how firms and their auditors respond under heightened risk. This study examines whether breaches influence three key audit outcomes: auditor changes, engagement partner rotations, and going concern opinions. Contrary to expectations, the findings show that breached firms are less likely to change auditors or engagement partners and are also less likely to receive going concern opinions. These results suggest that rather than signaling reform through frequent turnover or cautionary opinions, firms and auditors may rely on established relationships and the auditor’s in-depth knowledge to navigate post-breach complexities. Notably, technology firms experiencing breaches are more inclined to switch auditors, reflecting distinct accountability pressures in industries where cybersecurity risks are particularly salient. Overall, these findings highlight that stability, rather than disruption, often characterizes audit responses to cyber incidents, informing ongoing debates about audit quality, risk management, and regulatory guidance in an era of escalating cybersecurity threats.Keywords: auditor changes, cybersecurity breaches, engagement partner rotations, going concern opinions
Procedia PDF Downloads 244793 Fracture Pressure Predict Based on Well Logs of Depleted Reservoir in Southern Iraqi Oilfield
Authors: Raed H. Allawi
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Formation pressure is the most critical parameter in hydrocarbon exploration and exploitation. Specifically, predicting abnormal pressures (high formation pressures) and subnormal pressure zones can provide valuable information to minimize uncertainty for anticipated drilling challenges and risks. This study aims to interpret and delineate the pore and fracture pressure of the Mishrif reservoir in the southern Iraq Oilfield. The data required to implement this study included acoustic compression wave, gamma-ray, bulk density, and drilling events. Furthermore, supporting these models needs the pore pressure measurement from the Modular Formation Dynamics Tester (MDT). Many measured values of pore pressure were used to validate the accurate model. Using sonic velocity approaches, the mean absolute percentage error (MAPE) was about 4%. The fracture pressure results were consistent with the measurement data, actual drilling report, and events. The model's results will be a guide for successful drilling in future wells in the same oilfield.Keywords: pore pressure, fracture pressure, overburden pressure, effective stress, drilling events
Procedia PDF Downloads 884792 Brexit: Implications on Banking Regulations and Conditions; An Analysis
Authors: Astha Sinha, Anjali Kanagali
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The United Kingdom’s withdrawal from the European Union, also termed as “Brexit,” took place on June 23, 2016 and immediately had global repercussions on the stock markets of the world. It is however expected to have a greater impact on the Banking sector in the UK. There is a two-fold effect on the earnings of banks which is being expected. First is of the trading activity and investment banking businesses being hit due to global weakness in financial markets. Second is that the banks having a large presence in the European Union will have to restructure their operations in order to cover other European countries as well increase their operating costs. As per the analysis, banks are expected to face rate cuts, bad loans, and tight liquidity. The directives in the Brexit negotiations on the Markets in Financial Instruments Directive (MiFID) will be a major decision to be taken for the Banking sector. New regulations will be required since most of the regulations governing the financial services industry allowing for the cross-border transactions were at the EU level. This paper aims to analyze the effect of Brexit on the UK Banking sector and changes in regulations that are expected due to the same. It shall also lay down the lessons learnt from the 2008 financial crisis and draw a parallel in terms of potential areas to be focused on for revival of the financial sector of Britain.Keywords: Brexit, Brexit impact on UK, impact of Brexit on banking, impact of Brexit on financial services
Procedia PDF Downloads 4114791 Annoyance Caused by Air Pollution: A Comparative Study of Two Industrialized Regions
Authors: Milena M. Melo, Jane M. Santos, Severine Frere, Valderio A. Reisen, Neyval C. Reis Jr., Mariade Fátima S. Leite
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Although there had been a many studies that shows the impact of air pollution on physical health, comparatively less was known of human behavioral responses and annoyance impacts. Annoyance caused by air pollution is a public health problem because it can be an ambient stressor causing stress and disease and can affect quality of life. The objective of this work is to evaluate the annoyance caused by air pollution in two different industrialized urban areas, Dunkirk (France) and Vitoria (Brazil). The populations of these cities often report feeling annoyed by dust. Surveys were conducted, and the collected data were analyzed using statistical analyses. The results show that sociodemographic variables, importance of air quality, perceived industrial risk, perceived air pollution and occurrence of health problems play important roles in the perceived annoyance. These results show the existence of a common problem in geographically distant areas and allow stakeholders to develop prevention strategies.Keywords: air pollution, annoyance, industrial risks, public health, perception of pollution, settled dust
Procedia PDF Downloads 6974790 The Role of Healthcare Informatics in Combating the COVID-19 Pandemic
Authors: Philip Eappen, Narasimha Rao Vajjhala
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This chapter examines how healthcare organizations harnessed innovative healthcare informatics to navigate the challenges posed by the COVID-19 pan-demic, addressing critical needs and improving care delivery. The pandemic's un-precedented demands necessitated the adoption of new and advanced tools to manage healthcare operations more effectively. Informatics solutions played a crucial role in facilitating the smooth functioning of healthcare systems during this crisis and are anticipated to remain central to future healthcare management. Technologies such as telemedicine helped healthcare professionals minimize ex-posure to COVID-19 patients, thereby reducing infection risks within healthcare facilities. This chapter explores a range of informatics applications utilized worldwide, including telemedicine, AI-driven solutions, big data analytics, drones, robots, and digital platforms for drug delivery, all of which enabled re-mote patient care and enhanced healthcare accessibility and safety during the pan-demic.Keywords: healthcare informatics, COVID-19 Pandemic, telemedicine, AI-driven healthcare, big data analytics, remote patient care, digital health platforms
Procedia PDF Downloads 174789 Investment Decision among Public Sector Retirees: A Behavioural Finance View
Authors: Bisi S. Olawoyin
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This study attempts an exploration into behavioural finance in which the traditional assumptions of expected utility maximization with rational investors in efficient markets are dropped. It reviews prior research and evidence about how psychological biases affect investors behaviour and stock selection. This study examined the relationship between demographic variables and financial behaviour biases among public sector retirees who invested in the Nigerian Stock Exchange prior to their retirement. By using questionnaire survey method, a total of 214 valid convenient samples were collected in order to determine how specific demographic and psychological trait affect stock selection between dividend paying and non-dividend paying stocks. Descriptive statistics and OLS were used to analyse the results. Findings showed that most of the retirees prefer dividend paying stocks in few years preceding their retirement but still hold on to their non-dividend paying stock on retirement. A significant difference also exists between senior and junior retirees in preference for non-dividend paying stocks. These findings are consistent with the clientele theories of dividend.Keywords: behavioural finance, clientele theories, dividend paying stocks, stock selection
Procedia PDF Downloads 1474788 Development of a Multi-Factorial Instrument for Accident Analysis Based on Systemic Methods
Authors: C. V. Pietreanu, S. E. Zaharia, C. Dinu
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The present research is built on three major pillars, commencing by making some considerations on accident investigation methods and pointing out both defining aspects and differences between linear and non-linear analysis. The traditional linear focus on accident analysis describes accidents as a sequence of events, while the latest systemic models outline interdependencies between different factors and define the processes evolution related to a specific (normal) situation. Linear and non-linear accident analysis methods have specific limitations, so the second point of interest is mirrored by the aim to discover the drawbacks of systemic models which becomes a starting point for developing new directions to identify risks or data closer to the cause of incidents/accidents. Since communication represents a critical issue in the interaction of human factor and has been proved to be the answer of the problems made by possible breakdowns in different communication procedures, from this focus point, on the third pylon a new error-modeling instrument suitable for risk assessment/accident analysis will be elaborated.Keywords: accident analysis, multi-factorial error modeling, risk, systemic methods
Procedia PDF Downloads 2104787 Procyclicality of Leverage: An Empirical Analysis from Turkish Banks
Authors: Emin Avcı, Çiydem Çatak
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The recent economic crisis have shown that procyclicality, which could threaten the stability and growth of the economy, is a major problem of financial and real sector. The term procyclicality refers here the cyclical behavior of banks that lead them to follow the same patterns as the real economy. In this study, leverage which demonstrate how a bank manage its debt, is chosen as bank specific variable to see the effect of changes in it over the economic cycle. The procyclical behavior of Turkish banking sector (commercial, participation, development-investment banks) is tried to explain with analyzing the relationship between leverage and asset growth. On the basis of theoretical explanations, eight different leverage ratios are utilized in eight different panel data models to demonstrate the procyclicality effect of Turkish banks leverage using monthly data covering the 2005-2014 period. It is tested whether there is an increasing (decreasing) trend in the leverage ratio of Turkish banks when there is an enlargement (contraction) in their balance sheet. The major finding of the study indicates that asset growth has a significant effect on all eight leverage ratios. In other words, the leverage of Turkish banks follow a cyclical pattern, which is in line with those of earlier literature.Keywords: banking, economic cycles, leverage, procyclicality
Procedia PDF Downloads 2694786 Introducing Design Principles for Clinical Decision Support Systems
Authors: Luca Martignoni
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The increasing usage of clinical decision support systems in healthcare and the demand for software that enables doctors to take informed decisions is changing everyday clinical practice. However, as technology advances not only are the benefits of technology growing, but so are the potential risks. A growing danger is the doctors’ over-reliance on the proposed decision of the clinical decision support system, leading towards deskilling and rash decisions by doctors. In that regard, identifying doctors' requirements for software and developing approaches to prevent technological over-reliance is of utmost importance. In this paper, we report the results of a design science research study, focusing on the requirements and design principles of ultrasound software. We conducted a total of 15 interviews with experts about poten-tial ultrasound software functions. Subsequently, we developed meta-requirements and design principles to design future clinical decision support systems efficiently and as free from the occur-rence of technological over-reliance as possible.Keywords: clinical decision support systems, technological over-reliance, design principles, design science research
Procedia PDF Downloads 1054785 A Case Study of Rainfall Derived Inflow/Infiltration in a Separate Sewer System in Gwangju, Korea
Authors: Bumjo Kim, Hyun Jin Kim, Joon Ha Kim
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The separate sewer system is that collects the wastewater as a sewer pipe and rainfall as a stormwater pipe separately, and then sewage is treated in the wastewater treatment plant, the stormwater is discharged to rivers or lakes through stormwater drainage pipes. Unfortunately, even for separate sewer systems, it is not possible to prevent Rainfall Driven Inflow/Infiltration(RDII) completely to the sewer pipe. Even if the sewerage line is renovated, there is an ineluctable RDII due to the combined sewer system in the house or the difficulty of sewage maintenance in private areas. The basic statistical analysis was performed using environmental data including rainfall, sewage, water qualities and groundwater level in the strict of Gwangju in South Korea. During rainfall in the target area, RDII showed an increased rate of 13.4 ~ 53.0% compared to that of a clear day and showed a rapid hydrograph response of 0.3 ~ 3.0 hr. As a result of water quality analysis, BOD5 concentration decreased by 17.3 % and salinity concentration decreased by 8.8 % at the representative spot in the project area compared to the sunny day during rainfall. In contrast to the seasonal fluctuation range of 0.38 m ~ 0.55 m in groundwater in Gwangju area and 0.58 m ~ 0.78 m in monthly fluctuation range, while the difference between groundwater level and the depth of sewer pipe laying was 2.70 m on average, which is larger than the range of fluctuation. Comprehensively, it can be concluded that the increasing of flowrate at sewer line is due to not infiltration water caused by groundwater level rise, construction failure, cracking due to joint failure or conduit deterioration, rainfall was directly inflowed into the sewer line rapidly. Acknowledgements: This work was supported by the 'Climate Technology Development and Application' research project (#K07731) through a grant provided by GIST in 2017.Keywords: ground water, rainfall, rainfall driven inflow/infiltration, separate sewer system
Procedia PDF Downloads 1654784 A Framework for Building Information Modelling Execution Plan in the Construction Industry, Lagos State, Nigeria
Authors: Tosin Deborah Akanbi
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The Building Information Modeling Execution Plan (BEP) is a document that manifests the specifications for the adoption and execution of building information modeling in the construction sector in an organized manner so as to attain the listed goals. In this regard, the study examined the barriers to the adoption of building information modeling, evaluated the effect of building information modeling adoption characteristics on the key elements of a building information modeling execution plan and developed a strategic framework for a BEP in the Lagos State construction industry. Data were gathered through a questionnaire survey with 332 construction professionals in the study area. Three online structured interviews were conducted to support and validate the findings of the quantitative analysis. The results showed the significant relationships and connections between the variables in the framework: BIM usage and model quality control (aBIMskill -> dMQ, Beta = 0.121, T statistics = 1.829), BIM adoption characteristics and information exchange (bBIM_CH -> dIE, Beta = 0.128, T statistics = 1.727), BIM adoption characteristics and process design (bBIM_CH -> dPD, Beta = 0.170, T statistics = 2.754), BIM adoption characteristics and roles and responsibilities (bBIM_CH -> dRR, Beta = 0.131, T statistics = 2.181), interest BIM barriers and BIM adoption characteristics (cBBIM_INT -> bBIM_CH, Beta = 0.137, T statistics = 2.309), legal BIM barriers and BIM adoption characteristics (cBBIM_LEG -> bBIM_CH, Beta = 0.168, T statistics = 2.818), professional BIM barriers and BIM adoption characteristics (cBBIM_PRO -> bBIM_CH, Beta = 0.152, T statistics = 2.645). The results also revealed that seven final themes were generated, namely: model structure and process design, BIM information exchange and collaboration procedures, project goals and deliverables, project model quality control, roles and responsibilities, reflect Lagos state construction industry and validity of the BEP framework. Thus, there is a need for the policy makers to direct interventions to promote, encourage and support the understanding and adoption of BIM by emphasizing the various benefits of using the technology in the Lagos state construction industry.Keywords: building information modelling execution plan, BIM adoption characteristics, BEP framework, construction industry
Procedia PDF Downloads 244783 Exploring Open Innovation Practice in Start-Ups within an Innovation Ecosystem
Authors: Yassine Mehros, Jean-Michel Degeorge, Abdelaziz Elabjani
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Innovation has long been considered the key to the survival, development, and growth of companies. It is a process in which start-ups play a key role, but they suffer from a structural lack of resources, which hinders the development of new innovations and their commercialization. The use of alternative channels to access resources is therefore becoming a necessity to overcome this constraint and identify opportunities. This is why they can be part of large communities of interdependent actors, namely innovation ecosystems that are part of a logic of sharing and open innovation. This research aims to explore and better understand OI in start-ups within an innovation ecosystem. We offer an exploratory qualitative study with start-ups and other actors in the Saint-Étienne innovation ecosystem. Our paper explored the characteristics and main actors of the Saint-Etienne innovation ecosystem, focusing on start-ups. We have identified the motivations of start-up’s adopting OI, its difficulties, its risks, and its impact on their growth. Also, our results show the existence of strong links between the different actors in the ecosystem. In addition, a strong trust has been established between these actors thanks to the geographical proximity; the start-ups manage to get in touch with the different actors of their innovation ecosystem by practicing OI. The actors collaborate on projects involving companies and, in particular, start-ups.Keywords: open innovation, start-ups, Innovation ecosystem, actors
Procedia PDF Downloads 854782 The Use of Energy Efficiency and Renewable Energy in Building for Sustainable Development
Authors: Zakariya B. H., Idris M. I., Jungudo M. A.
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High energy consumptions of urban settlements in Nigeria are escalating due to strong population growth and migration as a result of crises. The demand for lighting, heating, ventilation and air conditioning (LHVAC) is becoming higher. Conversely, there is a poor electricity supply to both rural and urban settlement in Nigeria. Generators were mostly used in Nigeria as a source of energy for LHVAC. Energy efficiency can be defined as any measure taken to reduce the amount of energy consumed for heating ventilation and air-conditioning (HVAC), and house hold appliances like computers, stoves, refrigerators, televisions etc. The aim of the study was to minimize energy consumption in building through the integration of energy efficiency and renewable energy in building sector. Some of the energy efficient buildings within the study area were identified, the study covers there major cities of Nigeria namely, Abuja, Kaduna and Lagos city. The cost of investment on the energy efficiency and renewable energy was determined and compared with other fossil energy source for conventional building. Findings revealed that the low energy and energy efficient buildings in Nigeria are cheaper than the conventional ones. Based on the finding of the research, construction stake holders are strongly encouraged to abandon the conventional buildings and consider energy efficiency and renewable energy in buildings.Keywords: energy, efficiency, LHVAC, sustainable development
Procedia PDF Downloads 5844781 The Case for Implementing a Supplier Diversity and Inclusion Program beyond the Ethical Value
Authors: Arnaud Deshais
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The supply chain industry has integrated the need for supplier Diversity and Inclusion (D&I), mostly from an ethical and moral argument. In addition, in some countries, it is also a legal requirement for companies reaching a certain size. As a matter of fact, a lot of successful companies have developed a Corporate Social Responsibility Program that encourages diversity and inclusion in the supply chain, such as building strong relationships with minority owned businesses (women, LGBT, veterans, etc.). Outside ethical and legal perspectives, it is also worth researching the economic and financial benefits of pursuing such efforts. Through surveys of purchasing and supply chain managers in their current roles as well as review of some case studies on supplier based D&I programs, it becomes apparent that a financial return on investment is to be expected as well for companies who make a concerted effort to grow their D&I programs. The study explores the levers to increase shareholder value and business efficiencies. Finally, the research highlights the competitive advantage related to a broad minority based supplier network. The benefits manifest themselves in the areas of competitiveness, innovation, and collaboration. The economic reward ends up being at the forefront of those programs while being an opportunity for organizations to become 'a good citizen'.Keywords: diversity, inclusion, purchasing, supplier
Procedia PDF Downloads 1284780 Training for Digital Manufacturing: A Multilevel Teaching Model
Authors: Luís Rocha, Adam Gąska, Enrico Savio, Michael Marxer, Christoph Battaglia
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The changes observed in the last years in the field of manufacturing and production engineering, popularly known as "Fourth Industry Revolution", utilizes the achievements in the different areas of computer sciences, introducing new solutions at almost every stage of the production process, just to mention such concepts as mass customization, cloud computing, knowledge-based engineering, virtual reality, rapid prototyping, or virtual models of measuring systems. To effectively speed up the production process and make it more flexible, it is necessary to tighten the bonds connecting individual stages of the production process and to raise the awareness and knowledge of employees of individual sectors about the nature and specificity of work in other stages. It is important to discover and develop a suitable education method adapted to the specificities of each stage of the production process, becoming an extremely crucial issue to exploit the potential of the fourth industrial revolution properly. Because of it, the project “Train4Dim” (T4D) intends to develop complex training material for digital manufacturing, including content for design, manufacturing, and quality control, with a focus on coordinate metrology and portable measuring systems. In this paper, the authors present an approach to using an active learning methodology for digital manufacturing. T4D main objective is to develop a multi-degree (apprenticeship up to master’s degree studies) and educational approach that can be adapted to different teaching levels. It’s also described the process of creating the underneath methodology. The paper will share the steps to achieve the aims of the project (training model for digital manufacturing): 1) surveying the stakeholders, 2) Defining the learning aims, 3) producing all contents and curriculum, 4) training for tutors, and 5) Pilot courses test and improvements.Keywords: learning, Industry 4.0, active learning, digital manufacturing
Procedia PDF Downloads 1034779 Entrepreneurial Orientation and Customer Satisfaction: Evidences nearby Khao San Road
Authors: Vichada Chokesikarin
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The study aims to determine which factors account for customer satisfaction and to investigate the relationship between entrepreneurial orientation and business success, in particular, context of the information understanding of hostel business in Pranakorn district, Bangkok and the significant element of entrepreneurship in tourism industry. This study covers 352 hostels customers and 61 hostel owners/managers nearby Khao San Road. Data collection methods were used by survey questionnaire and a series of hypotheses were developed from services marketing literature. The findings suggest the customer satisfaction most influenced by image, service quality, room quality and price accordingly. Furthermore the findings revealed that significant relationships exist between entrepreneurial orientation and business success; while competitive aggressiveness was found unrelated. The ECSI model’s generic measuring customer satisfaction was found partially mediate the business success. A reconsideration of other variables applicable should be supported with the model of hostel business. The study provides context and overall view of hostel business while discussing from the entrepreneurial orientation to customer satisfaction, thereby reducing decision risk on hostel investment.Keywords: customer satisfaction, ECSI model, entrepreneurial orientation, small hotel, hostel, business performance
Procedia PDF Downloads 3394778 Socialist Ideology in Africa: A Comparative Study of Pre and Post Socialism
Authors: Haymanot Gebre-Amlak, Selamawit Gebre-Amlak
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Since its original declaration in the 18th century, Karl Marx and Friedrich Engels's Communist Manifesto has become one of the most influential political tracts. Socialism is a political path that leads towards communism by fostering a cooperative economy through the creation of cooperative enterprises, common ownership, state ownership, or shared equity. The ultimate objective of communism is to bring everyone working toward the same collective goal of a healthy, happy, and free society. The European establishment of 19-century colonial rule over the continent of Africa reinforced inflows of European investment and forced a profound change in the operation of labor and land markets. The colonial era and forced labor schemes in Africa lasted for several decades. When exiting from colonialism, these African countries were attracted to socialism’s ideology to bridge the social gap and freedom to their society. In this paper, we compare a pre and post socialist ideology and the impact in various African countries. We analyse the different aspects, which led to inconsistent outcomes. Our finding indicates that while they have some facets in common, each African country had a unique interpretation and influence from the socialist ideology.Keywords: African politics, socialism in Africa, African history, Africa
Procedia PDF Downloads 1714777 Made on Land, Ends Up in the Water "I-Clare" Intelligent Remediation System for Removal of Harmful Contaminants in Water using Modified Reticulated Vitreous Carbon Foam
Authors: Sabina Żołędowska, Tadeusz Ossowski, Robert Bogdanowicz, Jacek Ryl, Paweł Rostkowski, Michał Kruczkowski, Michał Sobaszek, Zofia Cebula, Grzegorz Skowierzak, Paweł Jakóbczyk, Lilit Hovhannisyan, Paweł Ślepski, Iwona Kaczmarczyk, Mattia Pierpaoli, Bartłomiej Dec, Dawid Nidzworski
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The circular economy of water presents a pressing environmental challenge in our society. Water contains various harmful substances, such as drugs, antibiotics, hormones, and dioxides, which can pose silent threats. Water pollution has severe consequences for aquatic ecosystems. It disrupts the balance of ecosystems by harming aquatic plants, animals, and microorganisms. Water pollution poses significant risks to human health. Exposure to toxic chemicals through contaminated water can have long-term health effects, such as cancer, developmental disorders, and hormonal imbalances. However, effective remediation systems can be implemented to remove these contaminants using electrocatalytic processes, which offer an environmentally friendly alternative to other treatment methods, and one of them is the innovative iCLARE system. The project's primary focus revolves around a few main topics: Reactor design and construction, selection of a specific type of reticulated vitreous carbon foams (RVC), analytical studies of harmful contaminants parameters and AI implementation. This high-performance electrochemical reactor will be build based on a novel type of electrode material. The proposed approach utilizes the application of reticulated vitreous carbon foams (RVC) with deposited modified metal oxides (MMO) and diamond thin films. The following setup is characterized by high surface area development and satisfactory mechanical and electrochemical properties, designed for high electrocatalytic process efficiency. The consortium validated electrode modification methods that are the base of the iCLARE product and established the procedures for the detection of chemicals detection: - deposition of metal oxides WO3 and V2O5-deposition of boron-doped diamond/nanowalls structures by CVD process. The chosen electrodes (porous Ferroterm electrodes) were stress tested for various parameters that might occur inside the iCLARE machine–corosis, the long-term structure of the electrode surface during electrochemical processes, and energetic efficacy using cyclic polarization and electrochemical impedance spectroscopy (before and after electrolysis) and dynamic electrochemical impedance spectroscopy (DEIS). This tool allows real-time monitoring of the changes at the electrode/electrolyte interphase. On the other hand, the toxicity of iCLARE chemicals and products of electrolysis are evaluated before and after the treatment using MARA examination (IBMM) and HPLC-MS-MS (NILU), giving us information about the harmfulness of using electrode material and the efficiency of iClare system in the disposal of pollutants. Implementation of data into the system that uses artificial intelligence and the possibility of practical application is in progress (SensDx).Keywords: waste water treatement, RVC, electrocatalysis, paracetamol
Procedia PDF Downloads 944776 Privatization of Pakistan Gas Sector: Role of Regulator
Authors: Lala Rukh, Muhammad Abbas Choudhary, Saddam Akber Abbasi
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In Pakistan, the privatization of major sector of the national economy i.e. power, telecom, and gas is very strongly advocated since 80s. With varying degree of progress made in these sectors, it has been the government’s approach that the privatization accelerates the sectorial growth, increases operational efficiency and attracts the foreign investment and is of special significance for developing economies. The gas sector was not an exception and the privatization in this sector has moved through various stages during this time within the realms of socio-political agenda. This paper presents the overview of the gas sector in the country. The Oil and Gas Regulatory Authority (OGRA) Ordinance and privatization commission policy position as depicted in the press briefings provides philosophical foundations to the privatization and sectorial restructuring in this paper. The role of the major players from privatization perspective is discussed with special reference to the importance of natural gas sector. The case study further discusses the economic regulations that are being adopted by utility regulators in Pakistan and elsewhere in the world and some issues that the Regulatory Authority will be concerned are outlined. Major operators in the gas sector including Oil & Gas Development Corporation (OGDC), Sui Northern Gas Pipelines Limited (SNGPL), Sui Southern Gas Pipelines Limited (SSGPL) is also presented.Keywords: privatization, economic regulation, OGDCL, SSGCL, SNGPL
Procedia PDF Downloads 4434775 Grand Paris Residential Real Estate as an Effective Hedge against Inflation
Authors: Yasmine Essafi Zouari, Aya Nasreddine
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Following a long inflationary period from the post-war era to the mid-1980s (+10.1% annually), France went through a moderate inflation period between 1986 and 2001 (+2.1% annually) and even lower inflation between 2002 and 2016 (+1.4% annually). In 2022, inflation in France increased rapidly and reached 4.5% over one year in March, according to INSEE estimates. Over a long period, even low inflation has an impact on portfolio value and households’ purchasing power. In such a context, inflation hedging should remain an important issue for investors. In particular, long-term investors, who are concerned with the protection of their wealth, seek to hold effective hedging assets. Considering a mixed-asset portfolio composed of housing assets (residential real estate in 150 Grand Paris communes) as well as financial assets, and using both correlation and regression analysis, results confirm the attribute of the direct housing investment as an inflation hedge especially particularly against its unexpected component. Further, cash and bonds were found to provide respectively a partial and an over hedge against unexpected inflation. Stocks act as a perverse hedge against unexpected inflation and provide no significant positive hedge against expected inflation.Keywords: direct housing, inflation, hedging ability, optimal portfolio, Grand Paris metropolis
Procedia PDF Downloads 1184774 The Influence of Bentonite on the Rheology of Geothermal Grouts
Authors: A. N. Ghafar, O. A. Chaudhari, W. Oettel, P. Fontana
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This study is a part of the EU project GEOCOND-Advanced materials and processes to improve performance and cost-efficiency of shallow geothermal systems and underground thermal storage. In heat exchange boreholes, to improve the heat transfer between the pipes and the surrounding ground, the space between the pipes and the borehole wall is normally filled with geothermal grout. Traditionally, bentonite has been a crucial component in most commercially available geothermal grouts to assure the required stability and impermeability. The investigations conducted in the early stage of this project during the benchmarking tests on some commercial grouts showed considerable sensitivity of the rheological properties of the tested grouts to the mixing parameters, i.e., mixing time and velocity. Further studies on this matter showed that bentonite, which has been one of the important constituents in most grout mixes, was probably responsible for such behavior. Apparently, proper amount of shear should be applied during the mixing process to sufficiently activate the bentonite. The higher the amount of applied shear the more the activation of bentonite, resulting in change in the grout rheology. This explains why, occasionally in the field applications, the flow properties of the commercially available geothermal grouts using different mixing conditions (mixer type, mixing time, mixing velocity) are completely different than expected. A series of tests were conducted on the grout mixes, with and without bentonite, using different mixing protocols. The aim was to eliminate/reduce the sensitivity of the rheological properties of the geothermal grouts to the mixing parameters by replacing bentonite with polymeric (non-clay) stabilizers. The results showed that by replacing bentonite with a proper polymeric stabilizer, the sensitivity of the grout mix on mixing time and velocity was to a great extent diminished. This can be considered as an alternative for the developers/producers of geothermal grouts to provide enhanced materials with less uncertainty in obtained results in the field applications.Keywords: flow properties, geothermal grout, mixing time, mixing velocity, rheological properties
Procedia PDF Downloads 1304773 Creative Skills Supported by Multidisciplinary Learning: Case Innovation Course at the Seinäjoki University of Applied Sciences
Authors: Satu Lautamäki
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This paper presents findings from a multidisciplinary course (bachelor level) implemented at Seinäjoki University of Applied Sciences, Finland. The course aims to develop innovative thinking of students, by having projects given by companies, using design thinking methods as a tool for creativity and by integrating students into multidisciplinary teams working on the given projects. The course is obligatory for all first year bachelor students across four faculties (business and culture, food and agriculture, health care and social work, and technology). The course involves around 800 students and 30 pedagogical coaches, and it is implemented as an intensive one-week course each year. The paper discusses the pedagogy, structure and coordination of the course. Also, reflections on methods for the development of creative skills are given. Experts in contemporary, global context often work in teams, which consist of people who have different areas of expertise and represent various professional backgrounds. That is why there is a strong need for new training methods where multidisciplinary approach is at the heart of learning. Creative learning takes place when different parties bring information to the discussion and learn from each other. When students in different fields are looking for professional growth for themselves and take responsibility for the professional growth of other learners, they form a mutual learning relationship with each other. Multidisciplinary team members make decisions both individually and collectively, which helps them to understand and appreciate other disciplines. Our results show that creative and multidisciplinary project learning can develop diversity of knowledge and competences, for instance, students’ cultural knowledge, teamwork and innovation competences, time management and presentation skills as well as support a student’s personal development as an expert. It is highly recommended that higher education curricula should include various studies for students from different study fields to work in multidisciplinary teams.Keywords: multidisciplinary learning, creative skills, innovative thinking, project-based learning
Procedia PDF Downloads 1114772 Use of Social Media Among University Student and Its Effect on the Achievement of Students
Authors: Saba Latif
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The use of social media among university students is a topic of ongoing debate, with conflicting views on its impact on academic achievement. This study aimed to explore the relationship between social media use and academic achievement among university students and to identify factors that may contribute to positive or negative effects. The study used a mixed-methods design, including a survey of 500 university students and qualitative interviews with a subset of participants. The survey results showed that social media use was prevalent among students, with Facebook and Instagram are the most commonly used platforms. The findings also indicated a positive relationship between social media use and academic achievement, with students who reported higher levels of social media use also reporting higher GPAs. However, the qualitative interviews revealed that excessive use of social media could be a distraction that hinders academic performance, especially when students use it to procrastinate or to stay up late at night. Overall, the findings suggest that social media use can have both positive and negative effects on academic achievement among university students. Responsible and balanced use of social media, such as setting limits on usage and avoiding procrastination, may help students maximize the benefits while minimizing the risks.Keywords: social media, university, achievement, effective, learning
Procedia PDF Downloads 864771 Relationship between Entrepreneurial Orientation and Small and Medium Enterprises Growth in Bauchi Metropolis, Nigeria
Authors: Muhammed Auwal Umar, M. Saleh
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The main purpose of this research is to examine the relationship between entrepreneurial orientation (innovativeness, risk-taking propensity, and proactiveness) and SME's growth in Bauchi metropolis. The study is quantitative in nature using a cross-sectional survey. The population of the study was 364 SMEs. Using simple random sampling, 183 questionnaires were personally distributed, out of which 165 (90%) were found valid for the analysis. Kregcie and Morgan (1970) table was used to determine the sample size. Pearson correlation was used to test the hypotheses. The analysis was conducted with the aid of IBM Statistical Package for Social Sciences (SPSS) version 20. The results established that innovativeness, risk-taking propensity, and proactiveness have significant positive relationship with SME's growth. It is therefore recommended that SMEs’ owners/managers should change their attitude by changing their product and mode of operation in line with customer demand, being proactive ahead of other competitors in trying a better way of doing things, and taking calculated risks in anticipation of high return in order for their businesses to survive and grow.Keywords: SMEs growth, innovativeness, risk-taking propensity, proactiveness
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