Search results for: high-tech firms

Authors: Reginald Anyanwu

Abstract:

Enzymes are biological molecules that significantly regulate the rate of almost all of the chemical reactions that take place within cells, and have been widely used for products’ innovations. They are vital for life and serve a wide range of important functions in the body, such as aiding in digestion and metabolism. The present study was aimed at finding out the extent to which biological molecules have been utilized by pharmaceutical, food and beverage, and biofuel industries in commercial and scale up applications. Taking into account the escalating business opportunities in this vertical, biotech firms have also been penetrating enzymes industry especially that of food. The aim of the study therefore was to find out how biocatalysis can be successfully deployed; how enzyme application can improve industrial processes. To achieve the purpose of the study, the researcher focused on the analytical tools that are critical for the scale up implementation of enzyme immobilization to ascertain the extent of increased product yield at minimum logistical burden and maximum market profitability on the environment and user. The researcher collected data from four pharmaceutical companies located at Anambra state and Imo state of Nigeria. Questionnaire items were distributed to these companies. The researcher equally made a personal observation on the applicability of these biological molecules on innovative Products since there is now shifting trends toward the consumption of healthy and quality food. In conclusion, it was discovered that enzymes have been widely used for products’ innovations but there are however variations on their applications. It was also found out that pivotal contenders of enzymes market have lately been making heavy investments in the development of innovative product solutions. It was recommended that the applications of enzymes on innovative products should be widely practiced.

Keywords: enzymes, pharmaceuticals, process development, quality food consumption, scale-up applications

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Authors: Ajay Kumar, Shamily Jaggi

Abstract:

In developing countries like India development of modern technologies has been a key determinant in accelerating industrialization and urbanization. But in the pursuit of rapid economic growth, development is considered a top priority, while environmental protection is not given the same importance. Thus, a number of industries sited haphazardly have been established, leading to a deterioration of natural resources like water, soil and air. As a result, environmental pollution is tremendously increasing due to industrialization and mechanization that are serving to fulfill the demands of the population. With the increasing population, demand for bricks for construction work is also increasing, establishing the brick industry as a growing industry. Brick production requires two main resources; water as a source of life, and soil, as a living environment. Water and soil conservation is a critical issue in areas facing scarcity of water and soil resources. The purpose of this review paper is to provide a brief overview of the theoretical frameworks used in the analysis of the adoption and/or acceptance of soil and water conservation practices in the brick industry. Different frameworks and models have been used in the analysis of the adoption and/or acceptance of new technologies and practices; these include the technology acceptance model, motivational model, theory of reasoned action, innovation diffusion theory, theory of planned behavior, and the unified theory of acceptance and use of technology. However, every model has some limitations, such as not considering environmental/contextual and economic factors that may affect the individual’s intention to perform a behavior. The paper concludes that in comparing other models, the UTAUT seems a better model for understanding the dynamics of acceptance and adoption of water and soil conservation practices.

Keywords: brick kiln, water conservation, soil conservation, unified theory of acceptance and use of technology, technology adoption

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Authors: Mohammad Azam

Abstract:

This work is an endeavor to empirically investigate the Gross Domestic Product-Growth as mediating variable between various factors and portfolio returns using a broad sample of 522 financial and non-financial firms enlisted on Pakistan Stock Exchange between January-1993 and June-2022. The study employs the Structural Equation modeling and Ordinary Least Square regression to determine the findings before and during the Covid-19 epidemiological situation, which has not received due attention by researchers. The analysis reveals that market and investment factors are redundant, whereas size and value show significant results, whereas Gross Domestic Product-Growth performs significant mediating impact for the whole time frame. Using before Covid-19 period, the results reveal that market, value, and investment are redundant, but size, profitability, and Gross Domestic Product-Growth are significant. During the Covid-19, the statistics indicate that market and investment are redundant, though size and Gross Domestic Product-Growth are highly significant, but value and profitability are moderately significant. The Ordinary Least Square regression shows that market and investment are statistically insignificant, whereas size is highly significant but value and profitability are marginally significant. Using the Gross Domestic Product-Growth augmented model, a slight growth in R-square is observed. The size, value and profitability factors are recommended to the investors for Pakistan Stock Exchange. Conclusively, in the Pakistani market, the Gross Domestic Product-Growth indicates a feeble moderating effect between risk-premia and portfolio returns.

Keywords: asset pricing puzzle, mediating role of GDP-growth, structural equation modeling, COVID-19 pandemic, Pakistan stock exchange

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Authors: M. Gil, R. Montalvo

Abstract:

Business Intelligence (BI) has become a major source of competitive advantages for firms around the world. BI has been defined as the process of data visualization and reporting for understanding what happened and what is happening. Moreover, BI has been studied for its predictive capabilities in the context of trade and financial transactions. The current literature has identified that BI permits managers to identify market trends, understand customer relations, and predict demand for their products and services. This last capability of BI has been of special concern to academics. Specifically, due to its power to build predictive models adaptable to specific time horizons and geographical regions. However, the current literature of BI focuses on predicting specific markets and industries because the impact of such predictive models was relevant to specific industries or organizations. Currently, the existing literature has not developed a predictive model of BI that takes into consideration the whole economy of a geographical area. This paper seeks to create a predictive model of BI that would show the bigger picture of a geographical area. This paper uses a data set from the Secretary of Economic Development of the state of Jalisco, Mexico. Such data set includes data from all the commercial transactions that occurred in the state in the last years. By analyzing such data set, it will be possible to generate a BI model that predicts supply and demand from specific industries around the state of Jalisco. This research has at least three contributions. Firstly, a methodological contribution to the BI literature by generating the predictive supply and demand model. Secondly, a theoretical contribution to BI current understanding. The model presented in this paper incorporates the whole picture of the economic field instead of focusing on a specific industry. Lastly, a practical contribution might be relevant to local governments that seek to improve their economic performance by implementing BI in their policy planning.

Keywords: business intelligence, predictive model, supply and demand, Mexico

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Authors: Maria Granados

Abstract:

Information technology (IT) facilitates the management of knowledge in organisations through the effective leverage of collective experience and knowledge of employees. This supports information processing needs, as well as enables and facilitates sense-making activities of knowledge workers. The study of IT support for knowledge management (KM) has been carried out mainly in larger organisations where resources and competitive conditions can trigger the use of KM. However, there is still a lack of understanding on how IT can support the management of knowledge under different organisational settings influenced by: constant tensions between social and economic objectives, more focus on sustainability than competiveness, limited resources, and high levels of democratic participation and intrinsic motivations among employees. All these conditions are presented in Social Enterprises (SEs), which are normally micro and small businesses that trade to tackle social problems, improve communities, people’s life chances, and the environment. Thus, their importance to society and economies is increasing. However, there is still a need for more understanding of how these organisations operate, perform, innovate and scale-up. This knowledge is crucial to design and provide accurate strategies to enhance the sector and increase its impact and coverage. To obtain a conceptual and empirical understanding of how IT can facilitate KM in the particular organisational conditions of SEs, a quantitative study was conducted with 432 owners and senior members of SEs in UK, underpinned by 21 interviews. The findings demonstrated how IT was supporting more the recovery and storage of necessary information in SEs, and less the collaborative work and communication among enterprise members. However, it was established that SEs were using cloud solutions, web 2.0 tools, Skype and centralised shared servers to manage informally their knowledge. The possible impediments for SEs to support themselves more on IT solutions can be linked mainly to economic and human constraints. These findings elucidate new perspectives that can contribute not only to SEs and SE supporters, but also to other businesses.

Keywords: social enterprises, knowledge management, information technology, collaboration, small firms

Procedia PDF Downloads 245

Authors: Amrutha Kishor

Abstract:

Today, with the rising global warming and depletion of resources every industry is moving toward sustainability and energy efficiency. As part of this movement, it is nowadays obligatory for architects to play their part by creating energy predictions for their designs. But in a lot of cases, these predictions do not reflect the real quantities of energy in newly built buildings when operating. These can be described as ‘Energy Performance Gaps’. This study aims to determine the underlying reasons for these gaps. Seven houses designed by Allan Joyce Architects, UK from 1998 until 2019 were considered for this study. The data from the residents’ energy bills were cross-referenced with the predictions made with the software SefairaPro and from energy reports. Results indicated that the predictions did not match the actual energy usage. An account of how energy was used in these seven houses was made by means of personal interviews. The main factors considered in the study were occupancy patterns, heating systems and usage, lighting profile and usage, and appliances’ profile and usage. The study found that the main reasons for the creation of energy gaps were the discrepancies in occupant usage and patterns of energy consumption that are predicted as opposed to the actual ones. This study is particularly useful for energy-conscious architectural firms to fine-tune the approach to designing houses and analysing their energy performance. As the findings reveal that energy usage in homes varies based on the way residents use the space, it helps deduce the most efficient technological combinations. This information can be used to set guidelines for future policies and regulations related to energy consumption in homes. This study can also be used by the developers of simulation software to understand how architects use their product and drive improvements in its future versions.

Keywords: architectural simulation, energy efficient design, energy performance gaps, environmental design

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Authors: Elsie L. Echeverri-Carroll

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Entrepreneurial ecosystems have become an important concept to explain the birth and sustainability of technology-based entrepreneurship within regions. However, as a theoretical concept, the temporal evolution of entrepreneurship systems remain underdeveloped, making it difficult to understand their dynamic contributions to entrepreneurs. This paper argues that successful technology-based ecosystems go over three cumulative spawning stages: corporate spawning, entrepreneurial spawning, and community spawning. The importance of corporate incubation in vibrant entrepreneurial ecosystems is well documented in the entrepreneurial literature. Similarly, entrepreneurial spawning processes for venture capital-backed startups are well documented in the financial literature. In contrast, there is little understanding of both the third stage of entrepreneurial spawning (when a community of entrepreneurs become a source of firm spawning) and the temporal sequence in which spawning effects occur in a region. We test this three-stage model of entrepreneurial spawning using data from two large databases on firm births—the Secretary of State (160,000 observations) and the National Establishment Time Series (NEST with 150,000 observations)—and information collected from 60 1½-hour interviews with startup founders and representatives of key entrepreneurial organizations. This temporal model is illustrated with case study of Austin, Texas ranked by the Kauffman Foundation as the number one entrepreneurial city in the United States in 2015 and 2016. The 1½-year study founded by the Kauffman Foundation demonstrates the importance of taken into consideration the temporal contributions of both large and entrepreneurial firms in understanding the factors that contribute to the birth and growth of technology-based entrepreneurial regions. More important, these learnings could offer an important road map for regions that pursue to advance their entrepreneurial ecosystems.

Keywords: entrepreneurial ecosystems, entrepreneurial industrial clusters, high-technology, temporal changes

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Authors: Nico Rosamilia

Abstract:

The study evaluates the importance of non-financial disclosure practices for regulators, investors, businesses, and markets. It aims to create a sector-specific set of indicators for environmental, social, and governance (ESG) performances alternative to the ratings of the agencies. The existing literature extensively studies the implementation of ESG rating systems. Conversely, this study has a twofold outcome. Firstly, it should generalize incentive systems and governance policies for ESG and sustainable principles. Therefore, it should contribute to the EU Sustainable Finance Disclosure Regulation. Secondly, it concerns the market and the investors by highlighting successful sustainable investing. Indeed, the study contemplates the effect of ESG adoption practices on corporate value. The research explores the asset pricing angle in order to shed light on the fragmented argument on the finance of ESG. Investors may be misguided about the positive or negative effects of ESG on performances. The paper proposes a different method to evaluate ESG performances. By comparing the results of a traditional econometric approach (Lasso) with a machine learning algorithm (Random Forest), the study establishes a set of indicators for ESG performance. Therefore, the research also empirically contributes to the theoretical strands of literature regarding model selection and variable importance in a finance framework. The algorithms will spit out sector-specific indicators. This set of indicators defines an alternative to the compounded scores of ESG rating agencies and avoids the possible offsetting effect of scores. With this approach, the paper defines a sector-specific set of indicators to standardize ESG disclosure. Additionally, it tries to shed light on the absence of a clear understanding of the direction of the ESG effect on corporate value (the problem of endogeneity).

Keywords: ESG ratings, non-financial information, value of firms, sustainable finance

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Authors: M. Jaenen, M. de Bouw, A. Verdonck, M. Leus

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During the interwar period artificial materials were often preferred, but many Antwerp architects relied on the application of wood for most of the interior finishing works and furnishings. Archival, literature and on site research of interwar suburban townhouses and the Belgian wood and furniture industry gave a new insight to the application of wood in the interwar interior. Many interwar designers favored the decorative values in all treatments of wood because of its warmth, comfort, good-wearing, and therefore, economic qualities. For the creation of a successful modern interior the texture and surface of the wood becomes as important as the color itself. This aesthetics valuation was the result of the modernization of the wood industry. The development of veneer and plywood gave the possibility to create strong, flat, long and plain wooden surfaces which are capable of retaining their shape. Also the modernization of cutting machines resulted in high quality and diversity in texture of veneer. The flat and plain plywood surfaces were modern decorated with all kinds of veneer-sliced options. In addition, wood species from the former Belgian Colony Congo were imported. Limba (Terminalia superba), kambala (Chlorophora excelsa), mubala (Pentaclethra macrophylla) and sapelli (Entandrophragma cylindricum) were used in the interior of many Antwerp interwar suburban town houses. From the thirties onwards Belgian wood firms established modern manufactures in Congo. There the local wood was dried, cut and prepared for exportation to the harbor of Antwerp. The presence of all kinds of strong and decorative Congolese wood products supported its application in the interwar interior design. The Antwerp architects combined them in their designs for doors, floors, stairs, built-in-furniture, wall paneling and movable furniture.

Keywords: Antwerp, congo, furniture, interwar

Procedia PDF Downloads 191

Authors: Patricia Girrbach

Abstract:

Currently, our society is facing a new and incremental upheaval technological revolution named digitalization. In order to face the relating challenges organizations have to be prepared. They need appropriate circumstances in order to cope with current issues concerning digital transformation processes. Nowadays digitalization emerged as top issues for companies and business leaders. In this context, it is a pressure on companies to have a positive, productive digital culture. And indeed, Organizations realize that they need to address this important issue. In this context 87 percent of organizations quote culture and engagement as one of their top challenges in terms of any change process, but especially in terms of the digital turn. Executives can give their company a competitive advantage and attract top talent by having a strong workplace culture that supports digitalization. Many current studies attest that fact. Digital-oriented companies can hire more easily, they have the lowest voluntary turnover rates, deliver better customer service, and are more profitable over the long run. Based on this background it is important to provide companies starting points and practical measurements how to reach this goal. The major findings are that firms need to make sense out of digitalization. In this context, they should focus on internal but also on external stakeholders. Furthermore, they should create certain working conditions and they should support the qualification of employees, e.g. by Virtual Reality. These measurements can create positive experiences in terms of digitalization in order to ensure the support of stuff in terms of the digital turn. Based on several current studies and literature research this paper provides concrete measurements for companies in order to enable the digital turn. Therefore, the aim of this paper is providing possible practical starting points which support both the education of employees by digitalization as well as the digital turn itself within the organization.

Keywords: digitalization, industry 4.0, education 4.0, virtual reality

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Authors: Sepinoud Hamedi

Abstract:

The ponder points to observationally look at the impact of carbon-neutrality approaches on the key assets required for Industry 4.0 driven savvy fabricating and how these assets can give a economical competitive advantage. The hypothetical system is coordinates with the regulation hypothesis and the resource-based see (RBV). The observational strategy is utilized for collecting information through studies and assist covariance-based auxiliary condition modeling is utilized to test the theories. Discoveries demonstrate that carbon–neutral-based government arrangements have a more grounded impact on unmistakable assets and human aptitudes than intangible assets related to Industry 4.0 driven shrewd fabricating. Moment, carbon–neutral arrangement arrangement with the firm’s maintainability destinations plays a directing impact on the relationship between carbon–neutral-based government arrangements and assets (substantial, intangible assets and human abilities) for Industry 4.0 driven shrewd fabricating. Finally, the three assets (substantial, intangible assets and human abilities) for Industry 4.0 driven savvy fabricating play a basic part in creating firms’ carbon–neutral capability and assist improving operational execution. Administrative suggestions incorporate venture in progressed advanced innovations, creating a solid mentality among workers and supply chain partners, and planning preparing programs for upgrading shrewd fabricating execution to create carbon-neutrality capability. This think about proposes a crossover hypothesis within the setting of carbon nonpartisanship by coordination institutional theory and RBV. Typically the primary think about that looks at the impact of carbon neutrality-based government arrangements on crucial Industry 4.0-driven savvy fabricating assets and the circuitous impact on carbon nonpartisanship capability and operational execution.

Keywords: carbon, industry 4.0, neutrality, RBV, nonpartisanship

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Authors: Lisete Barlach, Guilherme Ary Plonski

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Innovative ideas are not always synonymous with business opportunities. Any idea can be creative and not recognized as a potential project in which money and time will be invested, among other resources. Even in firms that promote and enhance innovation, there are two 'check-points', the first corresponding to the acknowledgment of the idea as creative and the second, its consideration as a business opportunity. Both the recognition of new business opportunities or new ideas involve cognitive and psychological frameworks which provide individuals with a basis for noticing connections between seemingly independent events or trends as if they were 'connecting the dots'. It also involves prototypes-representing the most typical member of a certain category–functioning as 'templates' for this recognition. There is a general assumption that these kinds of evaluation processes develop through experience, explaining why expertise plays a central role in this process: the more experienced a professional, the easier for him (her) to identify new opportunities in business. But, paradoxically, an increase in expertise can lead to the inflexibility of thought due to automation of procedures. And, besides this, other cognitive biases can also be present, because new ideas or business opportunities generally depend on heuristics, rather than on established algorithms. The paper presents a literature review about the Einstellung effect by tracking famous cases of rejected ideas, extracted from historical records. It also presents the results of empirical research, with data upon rejected ideas gathered from two different environments: projects rejected during first semester of 2017 at a large incubator center in Sao Paulo and ideas proposed by employees that were rejected by a well-known business company, at its Brazilian headquarter. There is an implicit assumption that Einstellung effect tends to be more and more present in contemporaneity, due to time pressure upon decision-making and idea generation process. The analysis discusses desirability, viability, and feasibility as elements that affect decision-making.

Keywords: cognitive biases, Einstellung effect, recognition of business opportunities, rejected ideas

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Authors: Candela Contero Urgal

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Using realia to teach English for Specific Purposes (ESP) is a must, as it is thought to be designed to meet the students’ real needs in their professional life. Teachers are then expected to offer authentic materials and set students in authentic contexts where their learning outcomes can be highly meaningful. One way of engaging students is using social networks as a way to bridge the gap between their everyday life and their ESP learning outcomes. It is in ESP, particularly in Business English teaching, that our study focuses, as the ongoing process of digitalization is leading firms to use social media to communicate with potential clients. The present paper is aimed at carrying out a case study in which different digital tools are employed as a way to offer a collection of formats businesses are currently using so as to internationalize and advertise their products and services. A secondary objective of our study will then be to progress on the development of multidisciplinary competencies students are to acquire during their degree. A two-phased study will be presented. The first phase will cover the analysis of course tasks accomplished by undergraduate students at the University of Cadiz (Spain) in their third year of the Degree in Business Management and Administration by comparing the results obtained during the years 2019 to 2021. The second part of our study will present a survey conducted to these students in 2021 and 2022 so as to verify their interest in learning new ways to digitalize as well as internationalize their future businesses. Findings will confirm students’ interest in working with updated realia in their Business English lessons, as a consequence of their strong belief in the necessity to have authentic contexts and didactic resources. Despite the limitations social media can have as a means to teach business English, students will still find it highly beneficial since it will foster their familiarisation with the digital tools they will need to use when they get to the labour market.

Keywords: English for specific purposes, business English, internationalization of higher education, foreign language teaching

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Authors: Ozoemelam Ikechukwu Lazarus, Nizamuddin B. Zainuddi, Abdul Kafi

Abstract:

Numerous studies have been carried out on Green Logistics Management Practices (GLMPs) across the globe. The study on the practices and performance of green chain practices in Africa in particular has not gained enough scholarly attention. Again, the majority of supply chain sustainability research being conducted focus on environmental sustainability. Logistics has been a major cause of supply chain resource waste and environmental damage. Many sectors of the economy that engage in logistical operations significantly rely on vehicles, which emit pollutants into the environment. Due to urbanization and industrialization, the logistical operations of manufacturing companies represent a serious hazard to the society and human life, making the sector one of the fastest expanding in the world today. Logistics companies are faced with numerous difficulties when attempting to implement logistics practices along their supply chains. In Nigeria, manufacturing companies aspire to implement reverse logistics in response to stakeholders’ requirements to reduce negative environmental consequences. However, implementing this is impeded by a criteria framework, and necessitates the careful analysis of how such criteria interact with each other in the presence of uncertainty. This study integrates most of the green logistics management practices (GLMPs) into the Nigerian firms to improve generalizability, and credibility. It examines the effect of Green Logistics Management Practices on environmental performance, social performance, market performance, and financial performance in the logistics industries. It seeks to identify the critical success factors in order to develop a model that incorporates different factors from the perspectives of the technology, organization, human and environment to inform the adoption and use of technologies for logistics supply chain social sustainability in Nigeria. It uses exploratory research approach to collect and analyse the data.

Keywords: logistics, management, sustainability, environment, operations

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Authors: Kherbache Mehdi

Abstract:

Within the framework of the validation of the Master in business administration marketing and sales in INSIM institute international in management Blida, we get the opportunity to do a professional internship in Sonelgaz Enterprise and a thesis. The thesis deals with the integration of social networking in the communication strategy of a company. The problematic is: How communicate with social network can be a solution for companies? The challenges stressed by this thesis were to suggest limits and recommendations to Sonelgaz Enterprise concerning social networks. The whole social networks represent more than a billion people as a potential target for the companies. Thanks to research and a qualitative approach, we have identified tree valid hypothesis. The first hypothesis allows confirming that using social networks cannot be ignored by any company in its communication strategy. However, the second hypothesis demonstrates that it’s necessary to prepare a strategy that integrates social networks in the communication plan of the company. The risk of this strategy is very limited because failure on social networks is not a restraint for the enterprise, social networking is not expensive and, a bad image which could result from it is not as important in the long-term. Furthermore, the return on investment is difficult to evaluate. Finally, the last hypothesis shows that firms establish a new relation between consumers and brands thanks to the proximity allowed by social networks. After the validation of the hypothesis, we suggested some recommendations to Sonelgaz Enterprise regarding the communication through social networks. Firstly, the company must use the interactivity of social network in order to have fruitful exchanges with the community. We also recommended having a strategy to treat negative comments. The company must also suggest delivering resources to the community thanks to a community manager, in order to have a good relation with the community. Furthermore, we advised using social networks to do business intelligence. Sonelgaz Enterprise can have some creative and interactive contents with some amazing applications on Facebook for example. Finally, we recommended to the company to be not intrusive with “fans” or “followers” and to be open to all the platforms: Twitter, Facebook, Linked-In for example.

Keywords: social network, buzz, communication, consumer, return on investment, internet users, web 2.0, Facebook, Twitter, interaction

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Authors: Raif Parlakkaya, Mustafa Nihat Demirci, Mehmet Nuri Salur

Abstract:

Environmental pollution has detrimental effects on the quality of our life and its scope has reached such an extent that measures are being taken both at the national and international levels to reduce, prevent and mitigate its impact on social, economic and political spheres. Therefore, awareness of environmental problems has been increasing among stakeholders and accordingly among companies. It is seen that corporate reporting is expanding beyond environmental performance. Primary purpose of publishing an environmental report is to provide specific audiences with useful, meaningful information. This paper is intended to analyze the extent and qualification of environmental disclosures of Turkish publicly quoted firms and see how it varies from one sector to another. The data for the study were collected from annual activity reports of companies, listed on the corporate governance index (BIST-XKURY) of Istanbul Stock Exchange. Content analysis was the research methodology used to measure the extent of environmental disclosure. Accordingly, 2015 annual activity reports of companies that carry out business in some particular fields were acquired from Capital Market Board, websites of Public Disclosure Platform and companies’ own websites. These reports were categorized into five main aspects: Environmental policies, environmental management systems, environmental protection and conservation activities, environmental awareness and information on environmental lawsuits. Subsequently, each component was divided into several variables related to what each firm is supposed to disclose about environmental information. In this context, the nature and scope of the information disclosed on each item were assessed according to five different ways (N.I: No Information; G.E.: General Explanations; Q.E.: Qualitative Detailed Explanations; N.E.: Quantitative (numerical) Detailed Explanations; Q.&N.E.: Both Qualitative and Quantitative Explanations).

Keywords: environmental accounting, disclosure, corporate governance, content analysis

Procedia PDF Downloads 233

Authors: Melissa Dickinson

Abstract:

In the context of intense global competitiveness and urban transformations, today’s cities are faced with enormous challenges. There is increasing pressure among cities and regions to respond promptly and efficiently to fierce market progressions, to offer a competitive advantage, higher flexibility, and to be pro-active in creating future markets. Consequently, competition among cities and regions within the dynamics of a worldwide spatial economic system is growing fiercer, amplifying the importance of intangible capital in shaping the competitive and dynamic economic performance of organisations and firms. Accordingly, this study addresses how intangible capital influences urban economic development within an urban environment. Despite substantial research on the economic, and strategic determinants of urban economic development this multidimensional phenomenon remains to be one of the greatest challenges for economic geographers. The research provides a unique contribution, exploring intangible capital through the lenses of entrepreneurial capital and social-network capital. Drawing on business surveys and in-depth interviews with key stakeholders in the case of the three UK Core Cities Birmingham, Bristol and Cardiff. This paper critically considers how entrepreneurial capital and social-network capital is a crucial source of competitiveness and urban economic development. This paper deals with questions concerning the complexity of operationalizing ‘network capital’ in different urban settings and the challenges that reside in characterising its effects. The paper will highlight the role of institutions in facilitating urban economic development. Particular emphasis will be placed on exploring the roles formal and informal institutions have in delivering, supporting and nurturing entrepreneurial capital and social-network capital, to facilitate urban economic development. Discussions will then consider how institutions moderate and contribute to the economic development of urban areas, to provide implications in terms of future policy formulation in the context of large and medium sized cities.

Keywords: urban economic development, network capital, entrepreneurialism, institutions

Procedia PDF Downloads 253

Authors: Ozoemelam Ikechukwu Lazarus, Nizamuddin B. Zainuddin, Abdul Kafi

Abstract:

Numerous studies have been carried out on Green Logistics Management Practices (GLMPs) across the globe. The study on the practices and performance of green chain practices in Africa in particular has not gained enough scholarly attention. Again, the majority of supply chain sustainability research being conducted focus on environmental sustainability. Logistics has been a major cause of supply chain resource waste and environmental damage. Many sectors of the economy that engage in logistical operations significantly rely on vehicles, which emit pollutants into the environment. Due to urbanization and industrialization, the logistical operations of manufacturing companies represent a serious hazard to the society and human life, making the sector one of the fastest expanding in the world today. Logistics companies are faced with numerous difficulties when attempting to implement logistics practices along their supply chains. In Nigeria, manufacturing companies aspire to implement reverse logistics in response to stakeholders’ requirements to reduce negative environmental consequences. However, implementing this is impeded by a criteria framework, and necessitates the careful analysis of how such criteria interact with each other in the presence of uncertainty. This study integrates most of the green logistics management practices (GLMPs) into the Nigerian firms to improve generalizability, and credibility. It examines the effect of Green Logistics Management Practices on environmental performance, social performance, market performance, and financial performance in the logistics industries. It seeks to identify the critical success factors in order to develop a model that incorporates different factors from the perspectives of the technology, organization, human and environment to inform the adoption and use of technologies for logistics supply chain social sustainability in Nigeria. It uses exploratory research approach to collect and analyse the data.

Keywords: logistics, managemernt, suatainability, environment, operations

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Authors: Nida Iftikhar, Jamaluddin Thaheem, Bilal Iftikhar

Abstract:

In the construction industry, adequate and effective decision-making can mean the difference between success and failure. Bidding is the most important element of the construction business since it is a mean by which contractors obtain work. This is probably the only option for any contractor firm to sustain in the market and achieve its objective of earning the profits by winning tenders. The capability to select most appropriate ventures not only defines the success and wellbeing of contractor firms but also their survival and sustainability in the industry. The construction practitioners are usually on their own when it comes to deciding on bidding for a project or not. Usually, experience-based solutions are offered where a lot of subjectivity is involved. This research has been opted considering the local construction industry of Pakistan in order to examine the critical success factors from contractors’ perspective while making bidding decisions, listing and evaluating critical factors in order of their importance, categorization of these factors into decision support & decision oppose groups and to develop a framework to help contractors in the decision-making process. Literature review, questionnaires, and structured interviews are used for identification and quantification of factors affecting bid/no bid decision-making. Statistical methods of ranking analysis and analytical hierarchy process of multi-criteria decision-making method are used for analysis. It is found that profitability, need for work and financial health of client are the most decisive factors in bid/no bid decision-making while project size, project type, fulfilling the tender conditions imposed by the client and relationship, identity & reputation of the client are least impact factors in bid/no bid decision-making. Further, to verify the developed framework, case studies have been conducted to evaluate the bid/no bid decision-making in building procurement. This is the first of its nature study in the context of the local construction industry and recommends using a holistic decision-making framework for such business-critical deliberations.

Keywords: bidding, bid decision-making, construction procurement, contractor

Procedia PDF Downloads 156

Authors: Gertrude I. Hewapathirana, Loi A. Nguyen, Mohammed M. Mostafa

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Artificial intelligence (AI) technologies and tools are swiftly integrating into many functions of all organizations as a competitive drive to enhance innovations, productivity, efficiency, faster and precise decision making to keep up with rapid changes in the global business arena. Despite increasing research on AI technologies in production, manufacturing, and information management, AI in human resource disciplines is still lagging. Though a few research studies on HR informatics, recruitment, and HRM in general, how to integrate AI in other HR functional disciplines (e.g., compensation, training, mentoring and coaching, employee motivation) is rarely researched. Many inconsistencies of research hinder developing up-to-date knowledge on AI in HR disciplines. Therefore, exploring eight research questions, using bibliometric network analysis combined with a meta-analysis of published research literature. The authors attempt to generate knowledge on the role of AI in improving the efficiency of HR functional disciplines. To advance the knowledge for the benefit of researchers, academics, policymakers, and practitioners, the study highlights the types of AI innovations and outcomes, trends, gaps, themes and topics, fast-moving disciplines, key players, and future directions.AI in HR informatics in high tech firms is the dominant theme in many research publications. While there is increasing attention from researchers and practitioners, there are many gaps between the promise, potential, and real AI applications in HR disciplines. A higher knowledge gap raised many unanswered questions regarding legal, ethical, and morale aspects of AI in HR disciplines as well as the potential contributions of AI in HR disciplines that may guide future research directions. Though the study provides the most current knowledge, it is limited to peer-reviewed empirical, theoretical, and conceptual research publications stored in the WoS database. The implications for theory, practice, and future research are discussed.

Keywords: artificial intelligence, human resources, bibliometric analysis, research directions

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Authors: Daniel L. Clinciu, IkromAbdulaev, Brian D. Oscar

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Various personality profile tests are used to identify personality strengths and limits in individuals, helping both individuals and managers to optimize work and team effort in organizations. One such test, Hartman’s personality profile emphasizes four driving "core motives" influenced or affected by both strengths and limitations. The driving core motives are classified into four colors: Red-motivated by power; Blue-discipline and loyalty; White-peace; and Yellow–fun loving. Two shortcomings of Hartman’s personality test are noted; 1) only one choice for every item/situation allowed and 2) selection of a choice even if not applicable. A test taker may be as much nurturing as he is opinionated but since “opinionated” seems less attractive the individual would likely select nurturing, causing a misidentification in personality strengths and limits. Since few individuals have a "strong" personality, it is difficult to assess their true personality strengths and limits allowing either only one choice or requiring unwanted choices, undermining the potential of the test. We modified Hartman’s personality profile allowing test takers to make either multiple choices for any item/situation or leave them blank when not applying. Sixty-eight participants (38 males and 30 females), 17-49 years old, from countries in Asia, Europe, N. America, CIS, Africa, Latin America, and Oceania were included. 58 participants (85.3%) reported the modified test, allowing either multiple or no choices better identified their personality strengths and limits, while 10 participants (14.7%) expressed the original (one choice version) is sufficient. The overall results show our modified test enhanced the identification and balance of personality strengths and limits, aiding test takers, managers, and firms to better understand personality strengths and limits, particularly useful in making task-related, teamwork, and management decisions.

Keywords: organizational behavior, personality tests, personality limitations, personality strengths, task management, team work

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Authors: Cornelius Femi Popoola

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Nigerian manufacturing industry, particularly the flour producing firms play vital roles in Nigerian economy. This sector’s quality management practice is given a little attention along with organizational factors that hinder successful practice of total quality management which needs to be documented. Honeywell Flour Mills Plc operate in Nigeria with an appreciable number of products that serves this sector of the economy. Internal-external disposition of the company and total quality practice of the company deserve some elucidations. Hence, this study examined the influence of organizational factors on total quality management practice of Nigerian manufacturing industry, using Honeywell Flour Mills Plc as a case study. The study employed the correlational type of descriptive survey research design. The population consisted of 656 staff of Honeywell Flour Mills Plc, out of which 235 members were selected through scientific sampling method developed by Paler-Calmorin and Calmorin. A total of 235 copies of questionnaires titled 'Organisational Factors and Total Quality Management Practices (QF-TQM) Questionnaire' were administered with a response rate of 66 copies returned. The following variables were applied internal organisational factors (IOFs), external organizational factors (EOFs) and total quality management (TQM). Data generated were analysed using frequency distribution and regression analysis at 0.05 level. The findings revealed that IOFs positively and significantly related with TQM (r = .147**, N= 64, P(.000) < .01). Also, EOFs negatively and significantly related with TQM (r = -.117, N= 64, P(.000) < .01). Findings showed that internal and external organizational factors jointly influenced TQM practiced in F₍₂,₆₁₎=22.250; R²=.629; Adj.R²=.603; P(.000) < .05). The study concluded that organizational factors are determinants of TQM practice in Nigerian manufacturing industry. It is recommended that both internal and external organizational factors influencing TQM practices should be considered in the development of TQM strategies.

Keywords: external organizational factors, internal organisational factors, Nigerian manufacturing industry, total quality management

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Authors: P. T. Ngan

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Purpose: The study aims to answer the question what are motivational conditions that have great influences on employees’ innovative work behaviors by investigating the case of SATAMANKULMA/ Anya Productions Ky in Kuopio, Finland. Design/methodology: The main methodology utilized was the qualitative single case study research, analysis was conducted with an adapted thematic content analysis procedure, created from empirical material that was collected through interviews, observation and document review. Findings: The paper highlights the significance of combining relevant synergistic extrinsic and intrinsic motivations into the organizational motivation system. The findings show that intrinsic drives are essential for the initiation phases while extrinsic drives are more important for the implementation phases of innovative work behaviors. The study also offers the IDEA motivation model-interpersonal relationships & networks, development opportunities, economic constituent and application supports as an ideal tool to optimize business performance. Practical limitations/ implications: The research was only conducted from the perspective of SATAMANKULMA/Anya Productions Ky, with five interviews, a few observations and with several reviewed documents. However, further research is required to include other stakeholders, such as the customers, partner companies etc. Also the study does not offer statistical validity of the findings; an extensive case study or a qualitative multiple case study is suggested to compare the findings and provide information as to whether IDEA model relevant in other types of firms. Originality/value: Neither the innovation nor the human resource management field provides a detailed overview of specific motivational conditions might use to stimulate innovative work behaviors of individual employees. This paper fills that void.

Keywords: employee innovative work behaviors, extrinsic motivation, intrinsic motivation, organizational innovativeness

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Authors: Mikiyas Adugna

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Effort estimation is among the activities carried out in software development processes. An accurate model of estimation leads to project success. The method of agile effort estimation is a complex task because of the dynamic nature of software development. Researchers are still conducting studies on agile effort estimation to enhance prediction accuracy. Due to these reasons, we investigated and proposed a model on LASSO and Elastic Net regression to enhance estimation accuracy. The proposed model has major components: preprocessing, train-test split, training with default parameters, and cross-validation. During the preprocessing phase, the entire dataset is normalized. After normalization, a train-test split is performed on the dataset, setting training at 80% and testing set to 20%. We chose two different phases for training the two algorithms (Elastic Net and LASSO) regression following the train-test-split. In the first phase, the two algorithms are trained using their default parameters and evaluated on the testing data. In the second phase, the grid search technique (the grid is used to search for tuning and select optimum parameters) and 5-fold cross-validation to get the final trained model. Finally, the final trained model is evaluated using the testing set. The experimental work is applied to the agile story point dataset of 21 software projects collected from six firms. The results show that both Elastic Net and LASSO regression outperformed the compared ones. Compared to the proposed algorithms, LASSO regression achieved better predictive performance and has acquired PRED (8%) and PRED (25%) results of 100.0, MMRE of 0.0491, MMER of 0.0551, MdMRE of 0.0593, MdMER of 0.063, and MSE of 0.0007. The result implies LASSO regression algorithm trained model is the most acceptable, and higher estimation performance exists in the literature.

Keywords: agile software development, effort estimation, elastic net regression, LASSO

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Authors: Doddy T. P. Enggarsyah, Soebowo Musa

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Covid-19 pandemic has changed business environments and has spread economic contagion rapidly, as the stringent lockdowns and social distancing, which were initially intended to cut off the spread, have instead cut off the flow of economies. With no existing experience or playbook to deal with such a crisis, the prolonged pandemic can lead to bankruptcies, despite the fact that there are cases of companies that are not only able to survive but also to increase sales and create more jobs amid the economic crisis. This quantitative research study clarifies conflicting findings on organizational inertia whether it is a better strategy to implement during a disruptive environment. 316 respondents who worked in diverse firms operating in various industry types in Indonesia have completed the survey with a response rate of 63.2%. Further, this study clarifies the roles and relationships between organizational inertia, organizational creativity, organizational agility, and organizational resilience that potentially have determinants factors on firm performance in a disruptive environment. The findings of the study confirm that the organizational inertia of the firm will set up strong protection on the organization's fundamental orientation, which eventually will confine organizations to build adequate creative and adaptability responses—such fundamental orientation built from path dependency along with past success and prolonged firm performance. Organizational inertia acts like a control mechanism to ensure the adequacy of the given responses. The term adequate is important, as being overly creative during a disruptive environment may have a contradictory result since it can burden the firm performance. During a disruptive environment, organizations will limit creativity by focusing more on creativity that supports the resilience and new technology adoption will be limited since the cost of learning and implementation are perceived as greater than the potential gains. The optimal path towards firm performance is gained through organizational resilience, as in a disruptive environment, the survival of the organization takes precedence over firm performance.

Keywords: disruptive environment, organizational agility, organizational creativity, organizational inertia, organizational resilience

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Authors: Rimon Rafiah

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This paper will present a combination of two seemingly unrelated models, which are the one for estimating economic development impacts as a result of transportation investment and the other for increasing CAV penetration in order to reduce congestion. Measuring economic development impacts resulting from transportation investments is becoming more recognized around the world. Examples include the UK’s Wider Economic Benefits (WEB) model, Economic Impact Assessments in the USA, various input-output models, and additional models around the world. The economic impact model is based on WEB and is based on the following premise: investments in transportation will reduce the cost of personal travel, enabling firms to be more competitive, creating additional throughput (the same road allows more people to travel), and reducing the cost of travel of workers to a new workplace. This reduction in travel costs was estimated in out-of-pocket terms in a given localized area and was then translated into additional employment based on regional labor supply elasticity. This additional employment was conservatively assumed to be at minimum wage levels, translated into GDP terms, and from there into direct taxation (i.e., an increase in tax taken by the government). The CAV model is based on economic principles such as CAV usage, supply, and demand. Usage of CAVs can increase capacity using a variety of means – increased automation (known as Level I thru Level IV) and also by increased penetration and usage, which has been predicted to go up to 50% by 2030 according to several forecasts, with possible full conversion by 2045-2050. Several countries have passed policies and/or legislation on sales of gasoline-powered vehicles (none) starting in 2030 and later. Supply was measured via increased capacity on given infrastructure as a function of both CAV penetration and implemented technologies. The CAV model, as implemented in the USA, has shown significant savings in travel time and also in vehicle operating costs, which can be translated into economic development impacts in terms of job creation, GDP growth and salaries as well. The models have policy implications as well and can be adapted for use in Japan as well.

Keywords: CAV, economic development, WEB, transport economics

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Authors: Albert Herve Nkolo Mpoko

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The Foreign Direct Investment (FDI) landscape in Cameroon has garnered significant attention from both European and Asian nations due to perceived benefits such as capital infusion, technology transfer, and potential for economic expansion. However, it is noteworthy that South Africa's investment presence remains comparatively subdued in Cameroon, lagging behind that of Europe and Asia. Equally surprising is the limited footprint of Africa's economic powerhouse within other African economies. This study delved into four specific facets of South African investment in Cameroon. Initially, it focused on identifying South African companies operating within Cameroon. Subsequently, the analysis encompassed assessing the correlation between South African investment and poverty alleviation. Additionally, the study examined the nexus between South African investment and technological advancement, and underscored the significance of investment incentives in both countries Key findings of the research shed light on several crucial points. South Africa ought to reassess its economic engagement with Francophone Africa, particularly Cameroon. Despite existing policies aimed at fostering investment, there remains substantial ground to cover in this realm. The proliferation of South African enterprises in Cameroon holds the potential to ameliorate poverty and foster employment opportunities across both nations. The advent of South African firms in Cameroon can catalyse technological advancements within the region. Data collection involved surveying 100 executives from the respective administrations and conducting ten interviews. The gathered data underwent triangulation, wherein quantitative findings were juxtaposed with qualitative insights. In conclusion, the study underscores the underutilization of Cameroon by South Africa, emphasizing the untapped potential for mutual economic growth. Furthermore, it posits that the success of South Africa's multinational corporations abroad could serve as a pivotal pillar for sustaining its domestic economy.

Keywords: FDI, transfer of technology, South-South cooperation, mutual economic growth

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Authors: Data Collete Bob-Manuel

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In light of global financial crisis in 2007-2008 various factors including board diversity, succession planning and board evaluation have been identified as essential ingredients in ensuring board effectiveness. The composition and structure of the board is of outmost importance in assessing a board’s ability and success in achieving its objectives. Following the corporate frauds and accounting scandals such as Enron, WorldCom, Parmalat, Oceanic Bank Nigeria and AfriBank Nigeria, there has been a notable amount of research about the effectiveness of the board of directors in the corporate governance of firms. The need to have an effective board cannot be over emphasized as it results in a more stable and thriving company. There has been an overarching need in the business world for a more diverse workforce and board of directors. Big corporations like Texaco, Ford Motors and DuPont have stated how diversity at every level of the workforce including the board of directors has been cited as a vital element for a company to succeed. Developed countries are also seeking for companies to have a more diverse board. For instance Norway has implemented a 60:40 board ratio to all companies. In West Africa, particularly Nigeria, the topic of diversity has received little attention as most studies conducted have focused on the gender aspect of diversity, which results found to have a negative impact on firm performance. This paper seeks to examine four variables of diversity; age, ethnicity, gender and skills to weigh the positive or negative impact the variables have on firm performance, based on evidence from the Nigerian Financial sector. Information used for this study will be gathered from financial statements and annual reports so as to enable the researcher to reflect on past years to know what is being done differently today. The findings of this study will help the researcher to develop a working definition for ethnicity with regards to the West African context where the issue of “tribe” is a sensitive topic.

Keywords: Board of Directors, Board Diversity, Firm Performance, Nigeria

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Authors: Yasir Ali Soomro

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Companies that demonstrate corporate social responsibilities (CSR) are more likely to withstand any downturn or crises because of the trust built with stakeholders. Many firms are utilizing CSR marketing to improve the interactions with their various stakeholders, mainly the consumers. Most previous research on CSR has focused on the impact of CSR on customer responses and behaviors toward a company. As online food ordering and grocery shopping remains inevitable. This study will investigate structural relationships among consumer positive emotions (CPE) and negative emotions (CNE), Corporate Reputation (CR), Customer Trust (CT), Brand Image (BI), and Brand attitude (BA) on behavioral outcomes such as Online purchase intention (OPI) and Word of mouth (WOM) in retail grocery and food restaurants setting. Hierarchy of Effects Model will be used as theoretical, conceptual framework. The model describes three stages of consumer behavior: (i) cognitive, (ii) affective, and (iii) conative. The study will apply a quantitative method to test the hypotheses; a self-developed questionnaire with non-probability sampling will be utilized to collect data from 500 consumers belonging to generation X, Y, and Z residing in KSA. The study will contribute by providing empirical evidence to support the link between CSR and customer affective and conative experiences in Saudi Arabia. The theoretical contribution of this study will be empirically tested comprehensive model where CPE, CNE, CR, CT, BI, and BA act as mediating variables between the perceived CSR & Online purchase intention (OPI) and Word of mouth (WOM). Further, the study will add more to how the emotional/ psychological process mediates in the CSR literature, especially in the Middle Eastern context. The proposed study will also explain the effect of perceived CSR marketing initiatives directly and indirectly on customer behavioral responses.

Keywords: corporate social responsibility, corporate reputation, consumer emotions, loyalty, online purchase intention, word-of-mouth, structural equation modeling

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Authors: Archana Soni, Arvind Mittal, Manmohan Kapshe

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Energy has been recognized as one of the key inputs for the economic growth and social development of a country. High economic growth naturally means a high level of energy consumption. However, in the present energy scenario where there is a wide gap between the energy generation and energy consumption, it is extremely difficult to match the demand with the supply. India being one of the largest and rapidly growing developing countries, there is an impending energy crisis which requires immediate measures to be adopted. In this situation, the concept of Energy Intensity comes under special focus to ensure energy security in an environmentally sustainable way. Energy Intensity is defined as the energy consumed per unit output in the context of industrial energy practices. It is a key determinant of the projections of future energy demands which assists in policy making. Energy Intensity is inversely related to energy efficiency; lesser the energy required to produce a unit of output or service, the greater is the energy efficiency. Energy Intensity of Indian manufacturing industries is among the highest in the world and stands for enormous energy consumption. Hence, reducing the Energy Intensity of Indian manufacturing industries is one of the best strategies to achieve a low level of energy consumption and conserve energy. This study attempts to analyse the factors which influence the Energy Intensity of Indian manufacturing firms and how they can be used to reduce the Energy Intensity. The paper considers six of the largest energy consuming manufacturing industries in India viz. Aluminium, Cement, Iron & Steel Industries, Textile Industries, Fertilizer and Paper industries and conducts a detailed Energy Intensity analysis using the data from PROWESS database of the Centre for Monitoring Indian Economy (CMIE). A total of twelve independent explanatory variables based on various factors such as raw material, labour, machinery, repair and maintenance, production technology, outsourcing, research and development, number of employees, wages paid, profit margin and capital invested have been taken into consideration for the analysis.

Keywords: energy intensity, explanatory variables, manufacturing industries, PROWESS database

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