Search results for: business judgment rule

Authors: Fernando Doral

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Family businesses are a key phenomenon within the business landscape. Nevertheless, it involves two terms (“family” and “business”) which are nowadays rapidly evolving. Consequently, it isn't easy to diagnose if a family business will be a growing or decreasing phenomenon, which is the objective of this study. For that purpose, a sample of 50 Spanish-established companies from various sectors was taken. Different factors were identified for each enterprise, related to the profile of the founders, such as age, the number of sons and daughters, or support received from the family at the moment to start it up. That information was taken as an input for a clustering method to identify groups, which could help define the founders' profiles. That characterization was carried as a base to identify three factors whose evolution should be analyzed: family structures, business landscape and entrepreneurs' motivations. The analysis of the evolution of these three factors seems to indicate a negative tendency of family businesses. Therefore the consequent diagnosis of this study is to consider family businesses as a declining phenomenon.

Keywords: business diagnose, business trends, family business, family business founders

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Authors: Patricia Jiménez, Rafael Corchuelo

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Nowadays the World Wide Web is the most popular source of information that relies on billions of on-line documents. Web mining is used to crawl through these documents, collect the information of interest and process it by applying data mining tools in order to use the gathered information in the best interest of a business, what enables companies to promote theirs. Unfortunately, it is not easy to extract the information a web site provides automatically when it lacks an API that allows to transform the user-friendly data provided in web documents into a structured format that is machine-readable. Rule-based information extractors are the tools intended to extract the information of interest automatically and offer it in a structured format that allow mining tools to process it. However, the performance of an information extractor strongly depends on the search heuristic employed since bad choices regarding how to learn a rule may easily result in loss of effectiveness and/or efficiency. Improving search heuristics regarding efficiency is of uttermost importance in the field of Web Information Extraction since typical datasets are very large. In this paper, we employ an information extractor based on a classical top-down algorithm that uses the so-called Information Gain heuristic introduced by Quinlan and Cameron-Jones. Unfortunately, the Information Gain relies on some well-known problems so we analyse an intuitive alternative, Termini, that is clearly more efficient; we also analyse other proposals in the literature and conclude that none of them outperforms the previous alternative.

Keywords: information extraction, search heuristics, semi-structured documents, web mining.

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Authors: Jesus Argueta

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This study aims to explore the Business Demography Phenomena along the Central American context, through the examination of its theoretical background, and the revision of Central American corporations success stories, that will eventually guide this research towards the business Demography Key Performance Indicators, across the Central American Business Ambiance. Considering that this analysis will support the development of a Small and Medium Business Observatory over the Honduran commercial landscapes, as platform for the reinforcement of this global topic.

Keywords: business demography, economic dynamism, small, medium and large enterprises, corporate demography

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Authors: Katalina Grigorova, Kaloyan Mironov

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The paper focuses on the benefits of business process modeling. Although this discipline is developing for many years, there is still necessity of creating new opportunities to meet the ever-increasing users’ needs. Because one of these needs is related to the conversion of business process models from one standard to another, the authors have developed a converter between BPMN and EPC standards using workflow patterns as intermediate tool. Nowadays there are too many systems for business process modeling. The variety of output formats is almost the same as the systems themselves. This diversity additionally hampers the conversion of the models. The presented study is aimed at discussing problems due to differences in the output formats of various modeling environments.

Keywords: business process modeling, business process modeling standards, workflow patterns, converting models

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Authors: Kylie Leonard

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Investment in artificial intelligence (AI) can be an attractive opportunity for business leaders as there are many easy-to-see benefits. These benefits include task completion rates, overall cost, and better forecasting. Business leaders are often unaware of the challenges that can accompany AI, such as data center costs, access to data, employee acceptance, and privacy concerns. In addition to the benefits and challenges of AI, it is important to practice AI ethics to ensure the safe creation of AI. AI ethics include aspects of algorithm bias, limits in transparency, and surveillance. To be a good business leader, it is critical to address all the considerations involving the challenges of AI and AI ethics.

Keywords: artificial intelligence, artificial intelligence ethics, business leaders, business concerns

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Authors: Rihab Idoudi, Karim Saheb Ettabaa, Basel Solaiman, Kamel Hamrouni

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Medical association rules induction is used to discover useful correlations between pertinent concepts from large medical databases. Nevertheless, ARs algorithms produce huge amount of delivered rules and do not guarantee the usefulness and interestingness of the generated knowledge. To overcome this drawback, we propose an ontology based interestingness measure for ARs ranking. According to domain expert, the goal of the use of ARs is to discover implicit relationships between items of different categories such as ‘clinical features and disorders’, ‘clinical features and radiological observations’, etc. That’s to say, the itemsets which are composed of ‘similar’ items are uninteresting. Therefore, the dissimilarity between the rule’s items can be used to judge the interestingness of association rules; the more different are the items, the more interesting the rule is. In this paper, we design a distinct approach for ranking semantically interesting association rules involving the use of an ontology knowledge mining approach. The basic idea is to organize the ontology’s concepts into a hierarchical structure of conceptual clusters of targeted subjects, where each cluster encapsulates ‘similar’ concepts suggesting a specific category of the domain knowledge. The interestingness of association rules is, then, defined as the dissimilarity between corresponding clusters. That is to say, the further are the clusters of the items in the AR, the more interesting the rule is. We apply the method in our domain of interest – mammographic domain- using an existing mammographic ontology called Mammo with the goal of deriving interesting rules from past experiences, to discover implicit relationships between concepts modeling the domain.

Keywords: association rule, conceptual clusters, interestingness measures, ontology knowledge mining, ranking

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Authors: Minttu Laukkanen, Janne Huiskonen

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This study investigates the sharing economy business models as examples of the sustainable business models. The aim is to contribute to the limited literature on sharing economy in connection with sustainable business models by explaining sharing economy business models value capturing. Specifically, this research answers the following question: How business model choices affect captured sustainable value? A multiple case study approach is applied in this study. Twenty different successful sharing economy business models focusing on consumer business and covering four main areas, accommodation, mobility, food, and consumer goods, are selected for analysis. The secondary data available on companies’ websites, previous research, reports, and other public documents are used. All twenty cases are analyzed through the sharing economy business model framework and sustainable value analysis framework using qualitative data analysis. This study represents general sharing economy business model value attributes and their specifications, i.e. sustainable value propositions for different stakeholders, and further explains the sustainability impacts of different sharing economy business models through captured and uncaptured value. In conclusion, this study represents how business model choices affect sustainable value capturing through eight business model attributes identified in this study. This paper contributes to the research on sustainable business models and sharing economy by examining how business model choices affect captured sustainable value. This study highlights the importance of careful business model and sustainability impacts analyses including the triple bottom line, multiple stakeholders and value captured and uncaptured perspectives as well as sustainability trade-offs. It is not self-evident that sharing economy business models advance sustainability, and business model choices does matter.

Keywords: sharing economy, sustainable business model innovation, sustainable value, value capturing

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Authors: Nadezhda Kvatashidze

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The conceptual framework of International Financial Reporting Standards determines the basic principles of accounting. The said principles have multiple applications, with professional judgments being one of those. Recognition and assessment of the information contained in financial reporting, especially so the somewhat uncertain events and transactions and/or the ones regarding which there is no standard or interpretation are based on professional judgments. Professional judgments aim at the formulation of expert assumptions regarding the specifics of the circumstances and events to be entered into the report based on the conceptual framework terms and principles. Experts have to make a choice in favor of one of the aforesaid and simulate the situations applying multi-variant accounting estimates and judgment. In making the choice, one should consider all the factors, which may help represent the information in the best way possible. Professional judgment determines the relevance and faithful representation of the presented information, which makes it more useful for the existing and potential investors. In order to assess the prospected net cash flows, the information must be predictable and reliable. The publication contains critical analysis of the aforementioned problems. The fact that the International Financial Reporting Standards are developed continuously makes the issue all the more important and that is another point discussed in the study.

Keywords: conceptual framework, faithful representation, professional judgement, relevance

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Authors: Akwesi Assensoh-Kodua

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Online Social Networks (OSN) has come and gone, yet the explosion of business activities on such platforms continuous to surge high, giving advantage to the bold entrepreneurs. It is therefore a practical requirement that practitioners and researchers understand the key determinants of costumers’ online social network business activities and continuance intention. An exploratory literature research to examine OSN continuous intention of business participants on OSN revealed that the practice of doing business on social network has come to stay and the following factors are the likely drivers for this new business model: perceived trust, perceived ease of use, confirmation, habit, social norm, perceived behavioural control, expected benefit, and satisfaction are the most probable factors that can lead to online social network (OSN) continuance intention.

Keywords: online social network, continuance intention, business continuance

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Authors: Heejung Lee

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In a highly competitive environment, it becomes more important to shorten the whole business process while delivering or even enhancing the business value to the customers and suppliers. Although the workflow management systems receive much attention for its capacity to practically support the business process enactment, the effective workflow modeling method remain still challenging and the high degree of process complexity makes it more difficult to gain the short lead time. This paper presents a workflow structuring method in a holistic way that can reduce the process complexity using activity-needs and formal concept analysis, which eventually enhances the key performance such as quality, delivery, and cost in business process.

Keywords: workflow management, re-engineering, formal concept analysis, business process

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Authors: Sara Dalma Galgoczi, Judith Gabriella Kengyel

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Sex scandals are quite an engaging topic to work with, especially with their judgment in society. Most people are interested in other people's lives, specifically in public figures' such as celebrities or politicians, because ordinary people feel like they have the right to know more things about the famous and notorious ones than they would probably willing to share. Intimacy and sexual acts aren't exceptions; moreover, sexuality is one of the central interests of humans ever since. Besides, knowing and having an opinion about any kind of scandal can change even whole social groups or classes estimation of anyone. This study aims to research the social judgment of some Hungarian politicians' sex scandals and asks important questions like diverse public opinions in the light of gender or delegates’ abuse of power. Considering that this study is about collecting and evaluating opinions from the public, and no one before researched and published this exact topic and cases, an online survey was created. In the survey were different sections. We collected data about party-preference, conservativism-liberalism scale; then we used the following questionnaires: from Zero-sum perspective with regard to gender equality (Ruthig, Kehn, Gamblin, Vanderzanden & Jones, 2017), Ambivalent Sexism Inventory (ASI; Glick & Fiske, 1996), Ambivalence Toward Men Inventory (AMI; Glick & Fiske, 1999). Finally, 5 short summaries were presented about five Hungarian politicians' sex scandal cases (3 males, 2 females) from the recent past. These stories were followed by questions about their opinion of the party and attitudes towards the parties' reactions to the cases. We came to the conclusion that people are more permissive with the scandals of men, and benevolent sexism and ambivalence towards men mediate this relation. Men tend to see these cases as part of politicians' private lives more than women. Party preference had a significant effect - people tend to pass a sentence the delegates of the opposing parties, and they rather release the delegates of their preferred party.

Keywords: sex scandal, sexism, social judgement, politician

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Authors: Alexandra Lipitakis, Evangelia A. E. C. Lipitakis

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In this article, a class of e-business strategy planning parameters are introduced and their effect on financial and non-financial performance of e-businesses and organizations is investigated. The relationships between these strategic planning parameters, i.e. Formality, Participation, Sophistication, Thoroughness, Synergy and Cooperation, Entropic Factor, Adaptivity, Uncertainty and Financial and Non-Financial Performance are examined and the directions of these relationships are given. A conceptual model has been constructed and quantitative research methods can be used to test the considered eight hypotheses. In the framework of e-business strategy planning this research study clearly demonstrates how strategic planning components have positive relationships with e-business strategy management and performance.

Keywords: e-business management, e-business model, e-business performance assessments, strategy management methodologies, strategy planning, quantitative methods

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Authors: Huayun Zhai, Quan Hu, Wei-Chih Chiang, Jianjun Du

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By applying experimental methodology in the framework of the behavior-perception theory, this paper studies the relationship between information quality of corporates’ social responsibility (CSR) and individual investors’ risk perception, intermediated with individual investors’ perception on CSR. The findings are as follows: In general, the information quality of CSR significantly influences individual investors’ perception on investment risks. Furthermore, certification on CSR can help reinforce such perceptions. The higher the reporting quality of CSR is, accompanied by the certification by an independent third party, the more likely individual investors recognize the responsibilities. The research also found that the perception on CSR not only plays a role of intermediation between information quality about CSR and investors’ perception on investment risk but also intermediates the certification of CSR reports and individual investors’ judgment on investment risks. The main contributions of the research are in two folds. The first is that it supplements the research on CSR from the perspective of investors’ perceptions. The second is that the research provides theoretical and experimental evidence for enterprises to implement and improve reports on their social responsibilities.

Keywords: information quality, corporate social responsibility, report certification, individual investors’ perception on risk, perception of corporate social responsibility

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Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

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Authors: Alireza Nikravanshallmani, Jamshid Dehmeshki, Mojtaba Ahmadi

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Modeling of business processes, based on BPMN (Business Process Modeling Notation), helps analysts and managers to understand business processes, and, identify their shortages. These models provide a context to make rational decision of organizing business processes activities in an understandable manner. The purpose of this paper is to provide a framework for better understanding of business processes and their problems by reducing the cognitive load of displayed information for their audience at different managerial levels while keeping the essential information which are needed by them. For this reason, we integrate business process diagrams across the different managerial levels to develop a framework to improve the performance of business process management (BPM) projects. The proposed framework is entitled ‘Business process improvement framework based on managerial levels (BPIML)’. This framework, determine a certain type of business process diagrams (BPD) based on BPMN with respect to the objectives and tasks of the various managerial levels of organizations and their roles in BPM projects. This framework will make us able to provide the necessary support for making decisions about business processes. The framework is evaluated with a case study in a real business process improvement project, to demonstrate its superiority over the conventional method. A questionnaire consisted of 10 questions using Likert scale was designed and given to the participants (managers of Bank Refah Kargaran three managerial levels). By examining the results of the questionnaire, it can be said that the proposed framework provide support for correct and timely decisions by increasing the clarity and transparency of the business processes which led to success in BPM projects.

Keywords: business process management (BPM), business process modeling, business process reengineering (BPR), business process optimizing, BPMN

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Authors: Seonjae Lee, Sungjoo Lee

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Excavation is necessary to remain competitive in the current business environment. The company survived the rapidly changing industry conditions by adapting new business strategy and reducing technology challenges. Traditionally, the two methods are conducted excavations for new businesses. The first method is, qualitative analysis of expert opinion, which is gathered through opportunities and secondly, new technologies are discovered through quantitative data analysis of method patents. The second method increases time and cost. Patent data is restricted for use and the purpose of discovering business opportunities. This study presents the company's characteristics (sector, size, etc.), of new business opportunities in customized form by reviewing the value chain perspective and to contributing to creating new business opportunities in the proposed model. It utilizes the trademark database of the Korean Intellectual Property Office (KIPO) and proprietary company information database of the Korea Enterprise Data (KED). This data is key to discovering new business opportunities with analysis of competitors and advanced business trademarks (Module 1) and trading analysis of competitors found in the KED (Module 2).

Keywords: value chain, trademark, trading analysis, new business opportunity

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Authors: Dino Carpentras, Paul Maher, Caoimhe O'Reilly, Michael Quayle

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Opinion dynamics is dedicated to modeling the dynamic evolution of people's opinions. Models in this field are based on a micro-dynamic rule, which determines how people update their opinion when interacting. Despite the high number of new models (many of them based on new rules), little research has been dedicated to experimentally validate the rule. A few studies started bridging this literature gap by experimentally testing the rule. However, in these studies, participants are forced to express their opinion as a number instead of using natural language. Furthermore, some of these studies average data from experimental questions, without testing if differences existed between them. Indeed, it is possible that different topics could show different dynamics. For example, people may be more prone to accepting someone's else opinion regarding less polarized topics. In this work, we collected data from 200 participants on 5 unpolarized topics. Participants expressed their opinions using natural language ('agree' or 'disagree') and the certainty of their answer, expressed as a number between 1 and 10. To keep the interaction based on natural language, certainty was not shown to other participants. We then showed to the participant someone else's opinion on the same topic and, after a distraction task, we repeated the measurement. To produce data compatible with standard opinion dynamics models, we multiplied the opinion (encoded as agree=1 and disagree=-1) with the certainty to obtain a single 'continuous opinion' ranging from -10 to 10. By analyzing the topics independently, we observed that each one shows a different initial distribution. However, the dynamics (i.e., the properties of the opinion change) appear to be similar between all topics. This suggested that the same micro-dynamic rule could be applied to unpolarized topics. Another important result is that participants that change opinion tend to maintain similar levels of certainty. This is in contrast with typical micro-dynamics rules, where agents move to an average point instead of directly jumping to the opposite continuous opinion. As expected, in the data, we also observed the effect of social influence. This means that exposing someone with 'agree' or 'disagree' influenced participants to respectively higher or lower values of the continuous opinion. However, we also observed random variations whose effect was stronger than the social influence’s one. We even observed cases of people that changed from 'agree' to 'disagree,' even if they were exposed to 'agree.' This phenomenon is surprising, as, in the standard literature, the strength of the noise is usually smaller than the strength of social influence. Finally, we also built an opinion dynamics model from the data. The model was able to explain more than 80% of the data variance. Furthermore, by iterating the model, we were able to produce polarized states even starting from an unpolarized population. This experimental approach offers a way to test the micro-dynamic rule. This also allows us to build models which are directly grounded on experimental results.

Keywords: experimental validation, micro-dynamic rule, opinion dynamics, update rule

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Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Eugenia V. Klicheva

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In modern conditions, scientific judgment of problems in developing mechanisms of value creation and risk management acquires special relevance. Formation of economic knowledge has resulted in the constant analysis of consumer behavior for all players from national and world markets. Effective mechanisms development of the demand analysis, crucial for consumer's characteristics of future production, and the risks connected with the development of this production are the main objectives of control systems in modern conditions. The modern period of economic development is characterized by a high level of globalization of business and rigidity of competition. At the same time, the considerable share of new products and services costs has a non-material intellectual nature. The most successful in Russia is the contemporary development of small innovative firms. Such firms, through their unique technologies and new approaches to process management, which form the basis of their intellectual capital, can show flexibility and succeed in the market. As a rule, such enterprises should have very variable structure excluding the tough scheme of submission and demanding essentially new incentives for inclusion of personnel in innovative activity. Realization of similar structures, as well as a new approach to management, can be constructed based on value-oriented management which is directed to gradual change of consciousness of personnel and formation from groups of adherents included in the solution of the general innovative tasks. At the same time, valuable changes can gradually capture not only innovative firm staff, but also the structure of its corporate partners. Introduction of new technologies is the significant factor contributing to the development of new valuable imperatives and acceleration of the changing values systems of the organization. It relates to the fact that new technologies change the internal environment of the organization in a way that the old system of values becomes inefficient in new conditions. Introduction of new technologies often demands change in the structure of employee’s interaction and training in their new principles of work. During the introduction of new technologies and the accompanying change in the value system, the structure of the management of the values of the organization is changing. This is due to the need to attract more staff to justify and consolidate the new value system and bring their view into the motivational potential of the new value system of the organization.

Keywords: value, risk, creation, problems, organization

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Authors: Hao Mi, Ming Yang, Tian-yue Yang

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Ultrasonic infrared nondestructive testing is a kind of testing method with high speed, accuracy and localization. However, there are still some problems, such as the detection requires manual real-time field judgment, the methods of result storage and viewing are still primitive. An intelligent non-destructive detection system based on embedded linux is put forward in this paper. The hardware part of the detection system is based on the ARM (Advanced Reduced Instruction Set Computer Machine) core and an embedded linux system is built to realize image processing and defect detection of thermal images. The CLAHE algorithm and the Butterworth filter are used to process the thermal image, and then the boa server and CGI (Common Gateway Interface) technology are used to transmit the test results to the display terminal through the network for real-time monitoring and remote monitoring. The system also liberates labor and eliminates the obstacle of manual judgment. According to the experiment result, the system provides a convenient and quick solution for industrial non-destructive testing.

Keywords: remote monitoring, non-destructive testing, embedded Linux system, image processing

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Authors: Allan Chia, Gabriel Gervais

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The case study on FoodXervices Inc shows how businesses need to reinvent and transform themselves in order to adapt and thrive and it also features how an SME can also devote resources to CSR causes. The company, Ng Chye Mong, was set up in 1937 and it went through ups and downs and encountered several failures and successes. In the 1970’s, the management of the company was entrusted to the next generation who continued to manage and expanded the business. In early 2003, the business encountered several challenges. A pair of siblings from the next generation of the Ng family joined the business fulltime and together they set-out to transform the company into FoodXervices Inc. In 2012, they started a charity, Food Bank Singapore Pte Ltd. The authors conducted case study research involving a series of in-depth interviews with the business owner and staff. This case study is an example of how to run a business and coordinate a charity concurrently while mobilising the same resources. The uniqueness of this case is the operational synergy of both the business and charity to promote corporate responsibility causes and initiatives in Singapore.

Keywords: family-owned business, charity, corporate social responsibility, branding

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Authors: Aleksandar Chonevski

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The free-market economy provides many opportunities for entrepreneurship or starting one’s own business, attracting many students to study business at for-profit colleges in the United States. This is also true for international students, many of whom are filled with the hope of making a better life for themselves and their families through entrepreneurial endeavors. This qualitative research showed that not all graduates business students start their own business. In investigating this phenomenon, the effectiveness of entrepreneurship curricula at international colleges needs to be examined in order to adjust, improve and reform entrepreneurship curricula. This qualitative study will explore how business skills learned in college for-profit play a role in the entrepreneurial readiness of undergraduate business students in the south Florida. Business curricula helps international students achieve goals and transform their actions to understand challenges in a corporate society. Students will be interviewed to gain information about the students’ experience with entrepreneurship curricula in a for-profit college in south Florida.

Keywords: business skills, college curriculum, entrepreneurial readiness, international students

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Authors: Dwi Purnomo, Anas Bunyamin, Fajar Susilo, Akbar Anugrah

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Beekeeping became a rural economic buffer, especially for people who lived by forest side to diversify their food or sell the honey and bee colony. Aside from the high price of honey and it’s derivative products, there is another revenue stream along beekeeping value chain that could be optimized by the people. There are five of nine honey bee species in the world, exist in Indonesia, such as Apis Cerana, Apis Dorsata, Apis Andreniformis, Apis Koschevnikovi, and Apis Nigrocincta. Indonesian farmer generally developed Apis Cerana and two other honey bees species, like Apis Mellifera and Trigona. This study tried to identify, how beekeeping business practices, challenges and opportunities in four beekeeping business in West Java through the value chain along the business. Data carried out by literature review, interview and focus group discussion with key actors in beekeeping business. There are six revenue stream in beekeeping business in West Java, such as brood hunter, beehives maker, agroforestry, agro-tourism, honey and derivatives products and bee acupuncture. This assesses conclude any criteria that should grasp for developing and sustaining beekeeping business in West Java.

Keywords: beekeeping business, business developing, value chain, West Java

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Authors: Iftikhar U. Sikder

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This paper illustrates an application of granular computing approach, namely rough set theory in data mining. The paper outlines the formalism of granular computing and elucidates the mathematical underpinning of rough set theory, which has been widely used by the data mining and the machine learning community. A real-world application is illustrated, and the classification performance is compared with other contending machine learning algorithms. The predictive performance of the rough set rule induction model shows comparative success with respect to other contending algorithms.

Keywords: concept approximation, granular computing, reducts, rough set theory, rule induction

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Authors: Niloofar Bahramian, Mohammad Atai, Mohammad Reza Naimi-Jamal

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Rule of mixtures is the simple analytical model is used to predict various properties of composites before design. The aim of this study was to demonstrate the benefits and limitations of the Rule-of-Mixtures (ROM) for predicting bending modulus of a continuous and unidirectional fiber reinforced composites using in dental applications. The Composites were fabricated from light curing resin (with and without silica nanoparticles) and modified and non-modified fibers. Composite samples were divided into eight groups with ten specimens for each group. The bending modulus (flexural modulus) of samples was determined from the slope of the initial linear region of stress-strain curve on 2mm×2mm×25mm specimens with different designs: fibers corona treatment time (0s, 5s, 7s), fibers silane treatment (0%wt, 2%wt), fibers volume fraction (41%, 33%, 25%) and nanoparticles incorporation in resin (0%wt, 10%wt, 15%wt). To study the fiber and matrix interface after fracture, single edge notch beam (SENB) method and scanning electron microscope (SEM) were used. SEM also was used to show the nanoparticles dispersion in resin. Experimental results of bending modulus for composites made of both physical (corona) and chemical (silane) treated fibers were in reasonable agreement with linear ROM estimates, but untreated fibers or non-optimized treated fibers and poor nanoparticles dispersion did not correlate as well with ROM results. This study shows that the ROM is useful to predict the mechanical behavior of unidirectional dental composites but fiber-resin interface and quality of nanoparticles dispersion play important role in ROM accurate predictions.

Keywords: bending modulus, fiber reinforced composite, fiber treatment, rule-of-mixtures

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Authors: Andrea Bellucci, Martina Tofi

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The aim of paper is to analyze business models of bancassurance in Italy for life business. The life insurance business is very developed in the Italian market and banks branches have 80% of the market share. Given its maturity, the life insurance market needs to consolidate its organizational form to allow for the development of non-life business, which nowadays collects few premiums but represents a great opportunity to enlarge the market share of bancassurance using its strength in the distribution channel while the market share of independent agents is decreasing. Starting with the main business model of bancassurance for life business, this paper will analyze the performances of life companies in the Italian market by balance sheet indicators and by main discriminant variables of business models. The study will observe trends from 2013 to 2015 for the Italian market by exploiting a database managed by Associazione Nazionale delle Imprese di Assicurazione (ANIA). The applied approach is based on a bottom-up analysis starting with variables and indicators to define business models’ classification. The statistical classification algorithm proposed by Ward is employed to design business models’ profiles. Results from the analysis will be a representation of the main business models built by their profile related to indicators. In that way, an unsupervised analysis is developed that has the limit of its judgmental dimension based on research opinion, but it is possible to obtain a design of effective business models.

Keywords: bancassurance, business model, non life bancassurance, insurance business value drivers

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Authors: Nickolay Jelev, Andy Keane, Carren Holden, András Sóbester

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In aircraft design, the jump from the conceptual to preliminary design stage introduces a level of complexity which cannot be realistically handled by a single optimiser, be that a human (chief engineer) or an algorithm. The design process is often partitioned along disciplinary lines, with each discipline given a level of autonomy. This introduces a number of challenges including, but not limited to: coupling of design variables; coordinating disciplinary teams; handling of large amounts of analysis data; reaching an acceptable design within time constraints. A number of classical Multidisciplinary Design Optimisation (MDO) architectures exist in academia specifically designed to address these challenges. Their limited use in the industrial aircraft design process has inspired the authors of this paper to develop an alternative strategy based on well established ideas from Decision Support Systems. The proposed rule based architecture sacrifices possibly elusive guarantees of convergence for an attractive return in simplicity. The method is demonstrated on analytical and aircraft design test cases and its performance is compared to a number of classical distributed MDO architectures.

Keywords: Multidisciplinary Design Optimisation, Rule Based Architecture, Aircraft Design, Decision Support System

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Authors: Alireza Nikbakht Shahbazi, Emadeddin Shirali

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Since optimization issues of water resources are complicated due to the variety of decision making criteria and objective functions, it is sometimes impossible to resolve them through regular optimization methods or, it is time or money consuming. Therefore, the use of modern tools and methods is inevitable in resolving such problems. An accurate and essential utilization policy has to be determined in order to use natural resources such as water reservoirs optimally. Water reservoir programming studies aim to determine the final cultivated land area based on predefined agricultural models and water requirements. Dam utilization rule curve is also provided in such studies. The basic information applied in water reservoir programming studies generally include meteorological, hydrological, agricultural and water reservoir related data, and the geometric characteristics of the reservoir. The system of Dez dam water resources was simulated applying the basic information in order to determine the capability of its reservoir to provide the objectives of the performed plan. As a meta-exploratory method, genetic algorithm was applied in order to provide utilization rule curves (intersecting the reservoir volume). MATLAB software was used in order to resolve the foresaid model. Rule curves were firstly obtained through genetic algorithm. Then the significance of using rule curves and the decrease in decision making variables in the system was determined through system simulation and comparing the results with optimization results (Standard Operating Procedure). One of the most essential issues in optimization of a complicated water resource system is the increasing number of variables. Therefore a lot of time is required to find an optimum answer and in some cases, no desirable result is obtained. In this research, intersecting the reservoir volume has been applied as a modern model in order to reduce the number of variables. Water reservoir programming studies has been performed based on basic information, general hypotheses and standards and applying monthly simulation technique for a statistical period of 30 years. Results indicated that application of rule curve prevents the extreme shortages and decrease the monthly shortages.

Keywords: optimization, rule curve, genetic algorithm method, Dez dam reservoir

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Authors: Rattakorn Poonsuph

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Technological innovation plays a crucial role in virtual healthcare services. A growing number of telehealth platforms are concentrating on using digital tools to improve the quality and availability of care. As a result, telehealth represents an opportunity to redesign the way health services are delivered. The research objective is to discover a new business model for digital health services and related industries to participate with telehealth solutions. The business opportunity is valuable for healthcare investors as a startup company to further investigations or implement the telehealth platform. The paper presents a digital healthcare business model and business opportunities to related industries. These include digital healthcare services extending from a traditional business model and use cases of business opportunities to related industries. Although there are enormous business opportunities, telehealth is still challenging due to the patient adaption and digital transformation process within a healthcare organization.

Keywords: telehealth, Internet hospital, HealthTech, InsurTech

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Authors: Kanyarat Bussaban, Kunyanuth Kularbphettong

Abstract:

This research aims to create a model for analysis of student behavior using Library resources based on data mining technique in case of Suan Sunandha Rajabhat University. The model was created under association rules, apriori algorithm. The results were found 14 rules and the rules were tested with testing data set and it showed that the ability of classify data was 79.24 percent and the MSE was 22.91. The results showed that the user’s behavior model by using association rule technique can use to manage the library resources.

Keywords: behavior, data mining technique, a priori algorithm, knowledge discovery

Procedia PDF Downloads 375

Authors: K. Debkowska

Abstract:

The aim of this article is presenting the possibilities of using Fuzzy Set Qualitative Comparative Analysis (fsQCA) in researches concerning business models of enterprises. FsQCA is a bridge between quantitative and qualitative researches. It's potential can be used in analysis and evaluation of business models. The article presents the results of a study conducted on the basis of enterprises belonging to different sectors: transport and logistics, industry, building construction, and trade. The enterprises have been researched taking into account the components of business models and the financial condition of companies. Business models are areas of complex and heterogeneous nature. The use of fsQCA has enabled to answer the following question: which components of a business model and in which configuration influence better financial condition of enterprises. The analysis has been performed separately for particular sectors. This enabled to compare the combinations of business models' components which actively influence the financial condition of enterprises in analyzed sectors. The following components of business models were analyzed for the purposes of the study: Key Partners, Key Activities, Key Resources, Value Proposition, Channels, Cost Structure, Revenue Streams, Customer Segment and Customer Relationships. These components of the study constituted the variables shaping the financial results of enterprises. The results of the study lead us to believe that fsQCA can help in analyzing and evaluating a business model, which is important in terms of making a business decision about the business model used or its change. In addition, results obtained by fsQCA can be applied by all stakeholders connected with the company.

Keywords: business models, components of business models, data analysis, fsQCA

Procedia PDF Downloads 143