Search results for: company performance

Authors: Gabriel Jinga, Madalina Dumitru

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The objective of this paper is to present the process of change in management accounting in Romania, a former communist country from Eastern Europe. In order to explain this process, we used the contingency and institutional theories. We focused on the following directions: the presentation of the scientific context and motivation of this research and the case study. We presented the state of the art in the process of change in the management accounting from the international and national perspective. We also described the evolution of management accounting in Romania in the context of economic and political changes. An important moment was the fall of communism in 1989. This represents a starting point for a new economic environment and for new management accounting. Accordingly, we developed a case study which presented this evolution. The conclusion of our research was that the changes in the management accounting system of the company analysed occurred in the same time with the institutionalization of some elements (e.g. degree of competition, training and competencies in management accounting). The management accounting system was modeled by the contingencies specific to this company (e.g. environment, industry, strategy).

Keywords: management accounting, change, Romania, contingency, institutional theory

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Authors: Eliot Britton, Patrick Hart, David Arbez, Kevin McPhillips

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Corporations exploit a collective vulnerability to commercial aesthetics in consumers, using distinct combinations of technology, language, and media. These communication techniques constitute an under-theorized aspect of contemporary music making. Quigital co-opts these techniques both as a tool to engage audience members and a way to critique traditional corporate messaging.Three Quigital works are discussed: 2020’s Quigital: Digital Edition, 2021’s Home Comfort Advisor, and the upcoming Corporate Retreat. In each, the audience interacts with ‘Quigital,’ a fictional company, in ways that closely mimic a typical consumer-corporate interaction: navigating a complex phone tree while wrangling the company AI; using an interactive website to view a smarthome product launch; or using a system of QR codes to interact with other users at an in-person event. However, each work combines these idiomatic interactions with unexpected elements: a choir sings machine learning-generated text trained on smarthome manuals. An audience member receives an automated follow-up text with a recording of their voice, warped and manipulated. The ensuing tension helps commandeer these corporate-inspired processes and technologies, revealing invasive and manipulative behavior in traditional corporate language and consumer interactions.Quigital is powered by a data-driven audiovisual performance framework that harnesses corporate models of iterative design, organization, and development. Quigital’s technical infrastructure, built using this iterative process, comprises a collection of components that can be assembled in a modular fashion to create interactive media. This paper examines how Quigital’s framework and technology establish a credible “corporate fiction” for audience members and how this fiction is used for aesthetic purposes—creating artworks that both leverage and critique consumer culture, corporate language, and surveillance capitalism.

Keywords: performance framework, virtual performance spaces, corporate aesthetics, machine learning in music, networked collaboration, consumer culture, generative composition, critique of corporate language, co-opting corporate aesthetics

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Authors: Opata Obinna Johnpaul

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Wastewater is one of the day-to–day concerns of humans and the environment, in general, due to its importance to the environment. This is because of the presence of various contaminants that are involved in waste water. Wastewater treatment can be defined as the proportion of wastewater that is treated, in order to reduce pollutants before being discharged to the environment, by the level of treatment. This work discusses wastewater treatment, its contaminants, as well as the technologies, involved.The major focus is to analyze Okomu Oil Palm Company Plc, their effluent treatment facility. Okomu Oil Palm Company is based in Nigeria, which is one of the developing countries of the world. Okomu Oil Palm Company uses aquatic treatment technology for their effluent treatment and applies the physio-chemical level of advanced chemical treatment of wastewater treatment process. This work will discuss the outcome of the laboratory sample taken on the 30th January, 2015 and analyzed between 30th January- 4th February 2015.

Keywords: wastewater treatment, contaminants, physio-chemical process, Okomu oil palm

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Authors: Simon Strande Henriksen

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When a city and country decide to undertake an Olympic Games, they do so with the notion that hosting the Olympics will provide direct financial benefits to the city, country, and national companies. Like many activities, the Olympic Games tend to be more popular when it is warm, and the athletes are known, and therefore this paper will only focus on the two latest Olympic Summer Games. Cities and countries continue to invest billions of dollars in infrastructure to secure the role of being Olympic hosts. The multiple investments expect to provide both economic growth and a lasting legacy for the citizens. This study aims to determine whether host country companies experience superior economic impact from the Olympics. Building on existing work within the Olympic field of research, it asks: Do companies in host countries of the Olympic Summer Games experience a superior increase in operating revenue and return on assets compared to other comparable countries? In this context, comparable countries are the two candidates following the host city in the bidding procedure. Based on methods used by scholars, a panel data regression was conducted on revenue growth rate and return on assets, to determine if host country companies see a positive relation with hosting the Olympic Games. Combined with an analysis of motivation behind hosting the Olympics, the regression showed no significant positive relations across all analyses, besides in one instance. Indications of a relationship between company performance and economic motivation were found to be present. With the results indicating a limited effect on company growth, it is recommended that prospective host cities and countries carefully consider possible implications the role of being an Olympic host might have on national companies.

Keywords: cross-country analysis, mega-event, multiple regression, quantitative analysis

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Authors: C. C. Chima, C. J. M. Anumaka

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This study evaluates environmental disclosures on the financial performance of quoted industrial goods manufacturing sectors in Nigeria. The study employed a quasi-experimental research design to establish the relationship that exists between the environmental disclosure index and financial performance indices (return on assets - ROA, return on equity - ROE, and earnings per share - EPS). A purposeful sampling technique was employed to select five (5) industrial goods manufacturing sectors quoted on the Nigerian Stock Exchange. Secondary data covering 2011 to 2020 financial years were extracted from annual reports of the study sectors using a content analysis method. The data were analyzed using SPSS, Version 23. Panel Ordinary Least Squares (OLS) regression method was employed in estimating the unknown parameters in the study’s regression model after conducting diagnostic and preliminary tests to ascertain that the data set are reliable and not misleading. Empirical results show that there is an insignificant negative relationship between the environmental disclosure index (EDI) and the performance indices (ROA, ROE, and EPS) of the industrial goods manufacturing sectors in Nigeria. The study recommends that: only relevant information which increases the performance indices should appear on the disclosure checklist; environmental disclosure practices should be country-specific; and company executives in Nigeria should increase and monitor the level of investment (resources, time, and energy) in order to ensure that environmental disclosure has a significant impact on financial performance.

Keywords: earnings per share, environmental disclosures, return on assets, return on equity

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Authors: Rohollah Asadian Kohestani, Mustafa Hashemzadeh

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The present paper is the outcome of a field research that was conducted with the study objective of influencing factor's effect on the behavior of customers switching in the Saipa Emdad Khodro Company. To achieve this goal, six factors of service quality, service cost, waiting time to receive services, reputation of organization, costs of switching and the way to respond the needs of customers as the independent variables of research and their effect on the customer switching was studied as the variable related to the research. The statistical society of this research included all customers of the Saipa Emdad Khodro company that possess the vehicles of automobile manufacturing group of Saipa throughout the country and the statistical sample included 150 persons of such customers. The results of this research indicated that all under study factors excluding the reputation factor effect on the behavior of customer switching.

Keywords: customer services, switching cost, service price, customer switching behavior

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Authors: Gabriel Jinga, Madalina Dumitru

Abstract:

The objective of this paper is to present the process of change in management accounting in Romania, a former communist country from Eastern Europe. In order to explain this process, we used the contingency and institutional theories. We focused on the following directions: the presentation of the scientific context and motivation of this research and the case study. We presented the state of the art in the process of change in the management accounting from the international and national perspective. We also described the evolution of management accounting in Romania in the context of economic and political changes. An important moment was the fall of communism in 1989. This represents a starting point for a new economic environment and for new management accounting. Accordingly, we developed a case study which presented this evolution. The conclusion of our research was that the changes in the management accounting system of the company analysed occurred in the same time with the institutionalisation of some elements (e.g. degree of competition, training and competencies in management accounting). The management accounting system was modelled by the contingencies specific to this company (e.g. environment, industry, strategy).

Keywords: management accounting, change, Romania, contingency and institutional theory

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Authors: Matthias Haerri, Tobias Huettche, Clemens Kustner

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This article discusses the impact of digitization on business valuation. In order to become and remain ‘digital’, investments are necessary whose return on investment (ROI) often remains vague. This uncertainty is contradictory for a valuation, that rely on predictable cash flows, fixed capital structures and the steady state. However digitisation does not make a company valuation impossible, but traditional approaches must be reconsidered. The authors identify four areas that are to be changing: (1) Tools instead of intuition - In the future, company valuation will neither be art nor science, but craft. This does not require intuition, but experience and good tools. Digital evaluation tools beyond Excel will therefore gain in importance. (2) Real-time instead of deadline - At present, company valuations are always carried out on a case-by-case basis and on a specific key date. This will change with the digitalization and the introduction of web-based valuation tools. Company valuations can thus not only be carried out faster and more efficiently, but can also be offered more frequently. Instead of calculating the value for a previous key date, current and real-time valuations can be carried out. (3) Predictive planning instead of analysis of the past - Past data will also be needed in the future, but its use will not be limited to monovalent time series or key figure analyses. With pictures of ‘black swans’ and the ‘turkey illusion’ it was made clear to us that we build forecasts on too few data points of the past and underestimate the power of chance. Predictive planning can help here. (4) Convergence instead of residual value - Digital transformation shortens the lifespan of viable business models. If companies want to live forever, they have to change forever. For the company valuation, this means that the business model valid on the valuation date only has a limited service life.

Keywords: business valuation, corporate finance, digitisation, disruption

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Authors: Samaneh Pouyanfar, Michael Oliff

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The industry of home appliances may beone of theindustries which has the highest competition, and actually what can guarantee the survival of this industry is discovering the superior services. A trend to provide quality products and services plays an important role in this industry because discovering the services is counted as a vital affair for Manufacturing Organizations’ survival and profitability. Given the importance of the topic, this paper attempts to investigate the relative priority of the factors influencing the customer satisfaction in gaining the competitive advantage in Pars-Khazar Company. In sum, 96 executives of Pars-Khazar Company where investigated in a census. For this purpose, after reviewing the research literature and performing deep interviews between pundits and experts active in the industry, the research questionnaire was made based on variables affecting customer satisfaction and components determining business competitive advantage. Determining the content validity took place by judgement of the experts. The reliability of each structure was measured based on Cronbach’s alpha coefficient. Since the value of Cronbach's alpha was higher than 0.7 for each structure, internal consistency of statements was high and the reliability of the questionnaire was acceptable. The data analysis was also done with Kulmgrf-asmyrnf test and Friedman test using SPSS software. The results showed that in dimension of factors affecting customer satisfaction, the History of trade name (brand), Familiarity with the product brand, Brand reputation and Safety have the highest value of priority respectively, and the variable of firm growth has the highest value of priority among the components determining the performance of competitive advantage.

Keywords: customer satisfaction, competitive advantage, brand history, safety, growth

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Authors: Meghan E. Murray, Carri R. Tolmie

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This study aims to identify potential factors and widely applicable best practices that can contribute to improving corporate social responsibility (CSR) and corporate performance for firms by exploring the relationship between transformational leadership, spiritual intelligence, and emotional intelligence. Corporate social responsibility is when companies are cognizant of the impact of their actions on the economy, their communities, the environment, and the world as a whole while executing business practices accordingly. The prevalence of CSR has continuously strengthened over the past few years and is now a common practice in the business world, with such efforts coinciding with what stakeholders and the public now expect from corporations. Because of this, it is extremely important to be able to pinpoint factors and best practices that can improve CSR within corporations. One potential factor that may lead to improved CSR is spiritual intelligence (SQ), or the ability to recognize and live with a purpose larger than oneself. Spiritual intelligence is a measurable skill, just like emotional intelligence (EQ), and can be improved through purposeful and targeted coaching. This research project consists of two studies. Study 1 is a case study comparison of a benefit corporation and a non-benefit corporation. This study will examine the role of SQ and EQ as moderators in the relationship between the transformational leadership of employees within each company and the perception of each firm’s CSR and corporate performance. Project methodology includes creating and administering a survey comprised of multiple pre-established scales on transformational leadership, spiritual intelligence, emotional intelligence, CSR, and corporate performance. Multiple regression analysis will be used to extract significant findings from the collected data. Study 2 will dive deeper into spiritual intelligence itself by analyzing pre-existing data and identifying key relationships that may provide value to companies and their stakeholders. This will be done by performing multiple regression analysis on anonymized data provided by Deep Change, a company that has created an advanced, proprietary system to measure spiritual intelligence. Based on the results of both studies, this research aims to uncover best practices, including the unique contribution of spiritual intelligence, that can be utilized by organizations to help enhance their corporate social responsibility. If it is found that high spiritual and emotional intelligence can positively impact CSR effort, then corporations will have a tangible way to enhance their CSR: providing targeted employees with training and coaching to increase their SQ and EQ.

Keywords: corporate social responsibility, CSR, corporate performance, emotional intelligence, EQ, spiritual intelligence, SQ, transformational leadership

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Authors: Stacia E. H. Sitohang, S.Mn., Socrates Rudy Sirait

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The first movie theater in Indonesia was established in December 1900. The movie industry started with international movie penetration. After a while, local movie producers started to rise and created local Indonesian movies. The industry is growing through ups and downs in Indonesia. In 2008, Visinema was founded in Jakarta, Indonesia, by AnggaDwimasSasongko, one of the most respected movie director in Indonesia. After getting achievements and recognition, Visinema chose to grow the company horizontally as opposed to only grow vertically and gain another similar achievement. Visinemachose to build the ecosystem that enables them to obtain many more opportunities and generatebusiness sustainability. The company proceed as an agile company. They created several business subsidiaries to support the company’s Intellectual Property (IP) development. This research was done through interview with the key persons in the company and questionnaire to get market insights regarding Visinema. The is able to transform their IP that initially started from movies to different kinds of business model. Interestingly, Angga chose to use the start up approach to create Visinema. In 2019, the company successfully gained Series A funding from Intudo Ventures and got other various investment schemes to support the business. In early 2020, Covid-19 pandemic negatively impacted many industries in Indonesia, especially the entertainment and leisure businesses. Fortunately, Visinema did not face any significant problem regarding survival during the pandemic, there were nolay-offs nor work hour reductions. Instead, they were thinking of much bigger opportunities and problems. While other companies suffer during the pandemic, Visinema created the first focused Transactional Video On Demand (TVOD) in Indonesia named Bioskop Online. The platform was created to keep the company innovating and adapting with the new online market as the result of the Covid-19 pandemic. Other than a digital platform, Visinemainvested heavily in animation to target kids and family business. They believed that penetrating the technology and animation market is going to be the biggest opportunity in Visinema’s road map. Besides huge opportunities, Visinema is also facing problems. The first is company brand positioning. Angga, as the founder, felt the need to detach his name from the brand image of Visinema to create system sustainability and scalability. Second, the company has to create a strategy to refocus in a particular business area to maintain and improve the competitive advantages. The third problem, IP piracy is a huge structural problem in Indonesia, the company considers IP thieves as their biggest competitors as opposed to other production company. As the recommendation, we suggest a set of branding and management strategy to detach the founder’s name from Visinema’s brand and improve the competitive advantages. We also suggest Visinema invest in system building to prevent IP piracy in the entertainment industry, which later can be another business subsidiary of Visinema.

Keywords: business ecosystem, agile, sustainability, scalability, start Up, intellectual property, digital platform

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Authors: B. Likar, K. Širok

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The paper presents a new method for efficient innovation process management. Even though the innovation management methods, tools and knowledge are well established and documented in literature, most of the companies still do not manage it efficiently. Especially in SMEs the front end of innovation - problem identification, idea creation and selection - is often not optimally performed. Our eMIPS methodology represents a sort of "umbrella methodology"- a well-defined set of procedures, which can be dynamically adapted to the concrete case in a company. In daily practice, various methods (e.g. for problem identification and idea creation) can be applied, depending on the company's needs. It is based on the proactive involvement of the company's employees supported by the appropriate methodology and external experts. The presented phases are performed via a mixture of face-to-face activities (workshops) and online (eLearning) activities taking place in eLearning Moodle environment and using other e-communication channels. One part of the outcomes is an identified set of opportunities and concrete solutions ready for implementation. The other also very important result is connected to innovation competences for the participating employees related with concrete tools and methods for idea management. In addition, the employees get a strong experience for dynamic, efficient and solution oriented managing of the invention process. The eMIPS also represents a way of establishing or improving the innovation culture in the organization. The first results in a pilot company showed excellent results regarding the motivation of participants and also as to the results achieved.

Keywords: creativity, distance learning, front end, innovation, problem

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Authors: Eny Suastuti

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This paper is about state’s capital equity in establishing State-owned Company (PT Merpati Persero). Under private law regime, PT Merpati Persero equity is a state asset allocated separately from the State Budget. Consequently, it is no longer a state asset; rather, it becomes a part of company assets. The adoption of Act No. 17 of 2003 on State Finance, Act No. 31 of 1999, which is amended by Act No. 20 of 2001 on Eradication of Corrupt Practices, Act No. 15 of 2004 on Auditing, Management, and Accountability of State Finance, and Act No. 15 of 2006 Audit Board raises legal issues of whether State-owned Company’s (PT Merpati Persero) loss may be deemed as loss on state finance made by the Directors of PT Merpati Persero, which implication leads to corrupt practices conducted by the Directors. The principle of civil law states that state assets are separated from the state budget is not a government asset. Therefore the case of a lease agreement 2 (two) units of Boeing 737-400 and Boeing 737-500 between PT Merpati Nusantara Airlines with companies Third Stone Aircraft Leasing Group (TALG) the United States cannot be prosecuted under Articles 2 and 3 of Act No. 31 of 1999 Jo Act No. 20 of 2001 on Eradication of Corrupt Practices (Law PTPK). From this paper, three things are found. First, state’s capital equity, which has been allocated separately from state assets in establishing the PT Merpati Perserois not state asset; rather, it is company’s asset. Second, in the case of mismanagement leading to company loss, the Directors of PT Merpati Persero may not be charged with committing corrupt practice as prescribed in Articles 2 and 3 of Corrupt Practices Eradication Law. Third, misperception has been made by judicial practices since the courts consider loss in certain transaction made by Directors of PT Merpati Persero to be loss of state finance whose implication is applicability of Articles 2 and 3 of Corrupt Practices Eradication Law.

Keywords: corrupt practice, loss, state's capital equity, state finance (PT Merpati Persero)

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Authors: Satpal Yadav, Biswajit Basumatary, Arvind S. Sajwan, Ranjan Chakravarty

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The purpose of the study was to assess the effect of 2D kinematical selected variables on sprint start with sprinting performance of novice athletes. Six (3 National and 3 State level) athletes of sports authority of India, Guwahati has been selected for this study. The mean (M) and standard deviation (SD) of sprinters were age (17.44, 1.55), height (1.74m, .84m), weight (62.25 kg, 4.55), arm length (65.00 cm, 3.72) and leg length (96.35 cm, 2.71). Biokin-2D motion analysis system V4.5 can be used for acquiring two-dimensional kinematical data/variables on sprint start with Sprinting Performance. For the purpose of kinematic analysis a standard motion driven camera which frequency of the camera was 60 frame/ second i.e. handy camera of Sony Company were used. The sequence of photographic was taken under controlled condition. The distance of the camera from the athletes was 12 mts away and was fixed at 1.2-meter height. The result was found that National and State level athletes significant difference in there, trajectory knee, trajectory ankle, displacement knee, displacement ankle, linear velocity knee, linear velocity ankle, and linear acceleration ankle whereas insignificant difference was found between National and State level athletes in their linear acceleration knee joint on sprint start with sprinting performance. For all the Statistical test the level of significance was set at p<0.05.

Keywords: 2D kinematic analysis, sprinting performance, novice athletes, sprint start

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Authors: Ali Alsawayeh, Ibrahim Eldanfour

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This paper examines the extent of disclosure of oil and gas reserve quantum in annual reports of international oil and gas exploration and production companies, particularly companies in untested international markets, such as Canada, the UK and the US, and seeks to determine the underlying factors that affect the level of disclosure on oil reserve quantum. The study is concerned with the usefulness of disclosure of oil and gas reserves quantum to investors and other users. Given the primacy of the annual report (10-k) as a source of supplemental reserves data about the company and as the channel through which companies disseminate information about their performance, the annual reports for one year (2009) were the central focus of the study. This comparative study seeks to establish whether differences exist between the sample companies, based on new disclosure requirements by the Securities and Exchange Commission (SEC) in respect of reserves classification and definition. The extent of disclosure of reserve is provided and compared among the selected companies. Statistical analysis is performed to determine whether any differences exist in the extent of disclosure of reserve under the determinant variables. This study shows that some factors would affect the extent of disclosure of reserve quantum in the above-mentioned countries, namely: company’s size, leverage and quality of auditor. Companies that provide reserves quantum in detail appear to display higher size. The findings also show that the level of leverage has affected companies’ reserves quantum disclosure. Indeed, companies that provide detailed reserves quantum disclosure tend to employ a ‘high-quality auditor’. In addition, the study found significant independent variable such as Profit Sharing Contracts (PSC). This factor could explain variations in the level of disclosure of oil reserve quantum between the contractor and host governments. The implementation of SEC oil and gas reporting requirements do not enhance companies’ valuation because the new rules are based only on past and present reserves information (proven reserves); hence, future valuation of oil and gas companies is missing for the market.

Keywords: comparison, company characteristics, disclosure, reserve quantum, regulation

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Authors: Septiany Trisnaningtyas

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Purpose: This research aims to examine the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia. A sharp decline in the number of patients coming to the hospital for treatment during the pandemic has an impact on the growth of the pharmaceutical sector and brought major changes in financial position and business performance. Pharmaceutical companies that provide products related to the Covid-19 pandemic can survive and continue to grow. This study investigates the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia associated with the number of Covid-19 cases. Design/methodology/approach: This study uses panel-data regression models to evaluate the influence of the number of Covid-19 confirmed cases on profitability of ninelisted pharmaceuticalcompanies in Indonesia. This research is based on four independent variables that were empirically examined for their relationship with profitability. These variables are liquidity (current ratio), growth rate (sales growth), firm size (total sales), and market power (the Lerner index). Covid-19 case is used as moderating variable. Data of nine pharmaceutical companies listed on the Indonesia Stock Exchange covering the period of 2018–2021 were extracted from companies’ quarterly annual reports. Findings: In the period during Covid-19, company growth (sales growth) and market power (lerner index) have a positive and significant relationship to ROA and ROE. Total of confirmed Covid-19 cases has a positive and significant relationship to ROA and is proven to have a moderating effect between company’s growth (sales growth) to ROA and ROE and market power (Lerner index) to ROA. Research limitations/implications: Due to data availability, this study only includes data from nine listed pharmaceutical companies in Indonesian Stock exchange and quarterly annual reportscovering the period of 2018-2021. Originality/value: This study focuses onpharmaceutical companies in Indonesia during Covid-19 pandemic. Previous study analyzes the data from pharmaceutical companies’ annual reports since 2014 and focus on universal health coverage (national health insurance) implementation from the Indonesian government. This study analyzes the data using fixed effect panel-data regression models to evaluate the influence of Covid-19 confirmed cases on profitability. Pooled ordinary least squares regression and fixed effects were used to analyze the data in previous study. This study also investigate the moderating effect of Covid-19 confirmed cases to profitability in relevant with the pandemic situation.

Keywords: profitability, indonesia, pharmaceutical, Covid-19

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Authors: Ridwan Dewayanto Rusli

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We show how prisoner's dilemma-type competition problems can be mitigated through rapid platform diversification and ecosystem expansion. We analyze a ride-hailing company in Southeast Asia, Gojek, whose network grew to more than 170 million users comprising consumers, partner drivers, merchants, and complementors within a few years and has already achieved higher contribution margins than ride-hailing peers Uber and Lyft. Its ecosystem integrates ride-hailing, food delivery and logistics, merchant solutions, e-commerce, marketplace and advertising, payments, and fintech offerings. The company continues growing its network of complementors and App developers, expanding content and gaining critical mass in consumer data analytics and advertising. We compare the company's growth and diversification trajectory with those of its main international rivals and peers. The company's rapid growth and future potential are analyzed using Cusumano's (2012) Staying Power and Six Principles, Hax and Wilde's (2003) and Hax's (2010) The Delta Model as well as Santos' (2016) home-market advantages frameworks. The recently announced multi-billion-dollar merger with one of Southeast Asia's largest e-commerce majors lends additional support to the above arguments.

Keywords: ride-hailing, prisoner's dilemma, platform and ecosystem strategy, digital applications, diversification, home market advantages, e-commerce

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Authors: Mohammad Parvaresh, Mahdi Babaee, Bahareh Arghand, Roushanak Fahimi Hanzaee, Davood Nourmohammadi

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Today, the intelligent network of water and wastewater as one of the key steps in realizing the smart city in the world. Use of pressure relief valves in urban water networks in order to reduce the pressure is necessary in Tehran city. But use these pressure relief valves lead to waste water, more power consumption, and environmental pollution because Tehran Province Water and Wastewater Co. use a quarter of industry 's electricity. In this regard, Tehran Province Water and Wastewater Co. identified solutions to reduce direct and indirect costs in energy use in the process of production, transmission and distribution of water because this company has extensive facilities and high capacity to realize green economy and industry. The aim of this study is to analyze the new project in water and wastewater industry to reach sustainable development.

Keywords: Tehran Province Water and Wastewater Company, water network efficiency, sustainable development, International Environmental Law

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Authors: Giorgi Methodishvili, Iuliia Methodishvili

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In this paper product development algorithm is used to determine the optimal management of financial resources in company. Aspects of financial management considered include put initial investment, examine all possible ways to solve the problem and the optimal rotation length of profit. The software of given problems is based using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

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Authors: Masimuddin Mohd Khaled

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This paper subsidizes to the discussion of Six Sigma in the Aerospace Industry. The main aim of this report is to study the literature review of Six Sigma emphasizing on the aerospace industry. The implementation of Six Sigma stages are studied and how the improvement cycle ‘Define, Measure, Analyze, Improve, and Control cycle’ (DMAIC) and the design process is ‘Define, Measure, Analyze, Design, and Verify Cycle’ (DMADV) is used. The focus is also done by studying how the implementation of Six Sigma on an aerospace company has brought a positive effect to the company.

Keywords: six sigma, DMAIC, DMADV, aerospace

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Authors: Ari Prasetyo, Taufik Faturohman

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The COVID-19 pandemic in Indonesia is part of the ongoing worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). It was confirmed to have spread to Indonesia on 2 March 2020. Moreover, the government of Indonesia has been conducting a local lockdown to limit people's movement from one city to another city. Therefore, this situation has impact on business operation, especially on highway companies listed on the Indonesia stock exchange. This study evaluates and measures three companies’ financial performance and health conditions before and during the COVID-19 pandemic from 2016 – 2020. The measurement is conducted by using financial ratio analysis and the Altman Z-score method. The ratio used to measure the financial ratio analysis is taken from the decree of the Ministry of SOE’s KEP-100/MBU/2002 about the company’s health level condition. From the decree, there are eight financial ratios used such as return on equity (ROE), return on investment (ROI), current ratio, cash ratio, collection period, inventory turnover, total asset turnover, and total equity to total asset. Altman Z-score is used to calculate the financial distress condition. The result shows that the highway companies for the period 2016 – 2020 are as follows: PT Jasa Marga (Persero) Tbk (AA, BB, BB, BB, C), PT Citra Marga Nusaphala Persada Tbk (BB, AA, BB, BBB, C), and PT Nusantara Infrastructure Tbk (BB, BB, AA, BBB, C). In addition, the Altman Z-score assessment performed in 2016-2020 shows that PT Jasa Marga (Persero) Tbk was in the grey zone area for 2015-2018 and in the distress zone for 2019-2020. PT Citra Marga Nusaphala Persada Tbk was in the grey zone area for 2015-2019 and in the distress zone for 2020. PT Nusantara Infrastructure Tbk was in the grey zone area for 2015-2018 and in the distress zone for 2019-2020.

Keywords: financial performance, financial ratio, Altman Z-score, financial distress, highway company

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Authors: Nader Chavoshi Boroujeni, Naser Chavoshi Boroujeni

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Considering the importance of managerial competencies on organizational performance as well as the role of social capital and entrepreneurship as mediator parameters affecting organizational performance, this study attempts to examine the impact carefully. In this regard, Isfahan Science and Technology Town (ISTT) as an effective and knowledge generator company that has a great effect on improving organizational performances of many other companies such as Knowledge-Based Companies (KBCs) activing in the ISTT's site was selected as statistical population. According to coordination with the Department of Development and Technology of ISTT, all employees of ISTT and active KBCs were selected as sample. Then, to analyze the variables a standard and self-made questionnaire containing 98 questions was designed and distributed. Of the 350 questionnaires distributed, 319 questionnaires were collected that 313 cases were confirmed and analyzed. To confirm the reliability of questionnaire, the Leader professor and two other professors approved it. Cronbach's alpha coefficient was used to validate the questionnaire that all coefficient was between 0/7 and 0/95. So, the validity was confirmed. After descriptive study population, the normality of distribution was investigated with Kolmogorov-Smirnov test. Finally, the results obtained from the questionnaires were analyzed by Amos software that all hypotheses were confirmed.

Keywords: managerial competencies, personnel organizational performance, entrepreneurship, social capital

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Authors: Shaolan Zou, Kullapa Soratana

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Construction industry faces tremendous challenges in sustainability issue in recent years. Building materials, generally, are non-recyclable with short service life time, leading to economic loss. Building sites also cause social issues, e.g. noise, hazardous substances, and particulate matters. Sustainable supply chain management (SSCM) has been recognized as an appropriate method to balance three pillars of sustainability: environment, economy, and society. However, most of construction companies cannot successfully adopt SSCM due to numerous challenges. In this study, a list of challenges in implementing SSCM was collected from peer-reviewed literature on sustainable implementation. A building materials company in Thailand, which has successfully adopted SSCM for almost two decades and established the sustainable development committee since 1995, was used as a case study. Management-level representatives in sustainability department of the company were interviewed, mainly, to examine which challenges on the list complies with the company’s condition when adopting SSCM. The interview result was analyzed by interpretive structural model (ISM) with sustainability experts’ opinions to identify top 5 influential challenges. The results could assist a building construction company in assigning appropriate strategies to overcome most influential barriers, as well as in using as a reference or guidance for other construction companies adopting SSCM.

Keywords: sustainable supply chain management, challenges, construction industry, interpretive structural model

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Authors: B. Vikram, Y. Anu Leena, Y. Anu Neena, M. V. Krishna Rao, V. S. S. Kumar

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The industry is often criticized for inefficiencies in outcomes such as time and cost overruns, low productivity, poor quality and inadequate customer satisfaction. To enhance the chances for construction projects to be successful, selecting an able contractor is one of the fundamental decisions to be made by clients. The selection of the most appropriate contractor is a multi-criteria decision making (MCDM) process. In this paper, multi-attribute utility theory (MAUT) is employed utilizing the multiplicative form of utility function for ranking the prequalified contractors. Performance assessment criteria covering contracting company attributes, experience record, past performance, performance potential, financial stability and project specific criteria are considered for contractor evaluation. A case study of multistoried building for which four contractors submitted bids is considered to illustrate the applicability of multiplicative approach of MAUT to rank the prequalified contractors. The proposed MAUT decision making methodology can also be employed to other decision making situations.

Keywords: multi-attribute utility theory, construction industry, prequalification, contractor

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Authors: Ju Shan Lin

Abstract:

The challenges for traditional industries in Taiwan the past few years are the changes of overall domestic and foreign industry structure, the entrepreneurs not only need to keep on improving their profession skills but also continuously research and develop new products. It is also necessary for the all traditional industries to keep updating the business strategy, let the enterprises continue to progress, and won't be easily replaced by the other industries. The traditional industry in Taiwan attach great importance to the field of enterprises upgrading and innovation in recent years, by the enterprise innovation and transformation can enhance the overall business situation also enable them to obtain more additional profits than in the past. Except the original industry structure's need to transform and upgrade, the brand's business and marketing strategy are also essential. This study will take a certain plastic company as case analysis, for the brand promotion of traditional industries, brand values and business innovation model for further exploration. It will also be mentioned that the other traditional industries cases which were already achieved success on the enterprise's upgrading and innovation, at the same time, the difficulties which they faced with and the way they overcome will be explored as well. This study will use the case study method combined with expert interviews to discuss and analyze this certain plastic company's current business situation, the existing products and the possible trends in the future. Looking forward to providing an innovative business model that will enable this plastic company to upgrade its corporate image and the brand could transform successfully.

Keywords: brand marketing strategy, enterprise upgrade, industrial transformation, traditional industry

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Authors: Homoud Bourisli, Haitham Safar

Abstract:

Oil is one of main resources of energy in the world. As conventional oil is drying out, oil recovery is crucial to maintain the same level of oil production. Since water injection is one of the commonly used methods to increase and maintain pressure in oil wells, oil-water separation processes of the water associated with oil production for water injection oil recovery is very essential. Therefore, Gas Flotation Units are used for oil-water separation to be able to re-inject the treated water back into the wells to increase pressure.

Keywords: Kuwait oil company, dissolved gas flotation unit, induced gas flotation unit, oil-water separation

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Authors: M. Gregušová, V. Schindlerová, I. Šajdlerová, P. Mohyla, J. Kedroň

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Company managers are always looking for more and more opportunities to succeed in today's fiercely competitive market. Maintain your place among the successful companies on the market today or come up with a revolutionary business idea; it is much more difficult than before. Each new or improved method, tools, or the approach that can improve the functioning of business processes or even the entire system is worth checking and verification. The use of simulation in the design of manufacturing systems and their management in practice is one of the ways without increased risk to find the optimal parameters of manufacturing processes and systems. The paper presents an example of using simulation to solve the bottleneck problem in concrete company.

Keywords: practical applications, business processes, systems, simulation

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Authors: Nikita Koradia

Abstract:

Hyundai Motor Company, which started off as a small fish in a big sea, paved its way out successfully and established itself as an independent group from the conglomerate. Hyundai, with its officious power across the globe and particularly in South Korea in the automobile industry, has one the most complex yet fascinating governance structure. Being the second largest contributor to the Gross Domestic Product of South Korea after Samsung and having a market share of 51.3% domestically in automobile industry, Hyundai has faced its part of criticism owing to its anti-labor union approach and owing to its internalization of supply chain management. The censure has been coming from across jurisdictions like China, India, Canada, the EU, etc. The paper focuses on the growth of Hyundai and its inward and outward investment structure. The paper questions the ability of Hyundai to become a mini-state in itself by focusing on its governance structure. The paper further elaborates on its compliance and disclosure regime in the field of Corporate social responsibility and explores how far the business structure adopted by Hyundai works in its favor to become one of the leading automobile contenders in the market.

Keywords: compliance regime, disclosure regime, Hyundai motor company, supply-chain management

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Authors: Hamad Aljassmi, Sangwon Han

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Various solutions for preventing construction defects have been suggested. However, a construction company may have difficulties adopting all these suggestions due to financial and practical constraints. Based on this recognition, this paper aims to identify the most significant defect causes and formulate their defect generation mechanism in order to help a construction company to set priorities of its defect prevention strategies. For this goal, we conducted a questionnaire survey of 106 industry professionals and identified five most significant causes including: (1) organizational culture, (2) time pressure and constraints, (3) workplace quality system, (4) financial constraints upon operational expenses and (5) inadequate employee training or learning opportunities.

Keywords: defect, quality, failure, risk

Procedia PDF Downloads 591

Authors: Mekdes Getu Chekol, Biniam Tedros Kahsay, Rahwa Berihu Haile

Abstract:

The main objective of this study is to investigate the marketing strategy practice in the Case of St. George Brewery Factory in Addis Ababa. One of the core activities in a Business Company to stay in business is having a well-developed marketing strategy. It assessed how the marketing strategies were practiced in the company to achieve its goals aligned with segmentation, target market, positioning, and the marketing mix elements to satisfy customer requirements. Using primary and secondary data, the study is conducted by using both qualitative and quantitative approaches. The primary data was collected through open and closed-ended questionnaires. Considering the size of the population is small, the selection of the respondents was carried out by using a census. The finding shows that the company used all the 4 Ps of the marketing mix elements in its marketing strategies and provided quality products at affordable prices by promoting its products by using high and effective advertising mechanisms. The product availability and accessibility are admirable with the practices of both direct and indirect distribution channels. On the other hand, the company has identified its target customers, and the company’s market segmentation practice is geographical location. Communication effectiveness between the marketing department and other departments is very good. The adjusted R2 model explains 61.6% of the marketing strategy practice variance by product, price, promotion, and place. The remaining 38.4% of variation in the dependent variable was explained by other factors not included in this study. The result reveals that all four independent variables, product, price, promotion, and place, have a positive beta sign, proving that predictor variables have a positive effect on that of the predicting dependent variable marketing strategy practice. Even though the marketing strategies of the company are effectively practiced, there are some problems that the company faces while implementing them. These are infrastructure problems, economic problems, intensive competition in the market, shortage of raw materials, seasonality of consumption, socio-cultural problems, and the time and cost of awareness creation for the customers. Finally, the authors suggest that the company better develop a long-range view and try to implement a more structured approach to attain information about potential customers, competitor’s actions, and market intelligence within the industry. In addition, we recommend conducting the study by increasing the sample size and including different marketing factors.

Keywords: marketing strategy, market segmentation, target marketing, market positioning, marketing mix

Procedia PDF Downloads 18