Search results for: implicit competitiveness

Authors: Sreeparna Majee, G. C. Shit

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Unsteady blood flow has been numerically investigated through stenosed arteries to achieve an idea about the physiological blood flow pattern in diseased arteries. The blood is treated as Newtonian fluid and the arterial wall is considered to be rigid having deposition of plaque in its lumen. For direct numerical simulation, vorticity-stream function formulation has been adopted to solve the problem using implicit finite difference method by developing well known Peaceman-Rachford Alternating Direction Implicit (ADI) scheme. The effects of magnetic parameter and Reynolds number on velocity and wall shear stress are being studied and presented quantitatively over the entire arterial segment. The streamlines have been plotted to understand the flow pattern in the stenosed artery, which has significant alterations in the downstream of the stenosis in the presence of magnetic field. The results show that there are nominal changes in the flow pattern when magnetic field strength is enhanced upto 8T which can have remarkable usage to MRI machines.

Keywords: magnetohydrodynamics, blood flow, stenosis, energy dissipation

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Authors: Philippe Gugler

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Goal of the study: The concept of competitiveness has been addressed by economic theorists and policymakers for several hundreds of years, with both groups trying to understand the drivers of economic prosperity and social welfare. The goal of this contribution is to address the major useful theoretical contributions that permit to identify the main drivers of a territory’s competitiveness. We first present the major contributions found in the classical and neo-classical theories. Then, we concentrate on two majors schools providing significant thoughts on the competitiveness of locations: the Economic Geography (EG) School and the International Business (IB) School. Methodology: The study is based on a literature review of the classical and neo-classical theories, on the economic geography theories and on the international business theories. This literature review establishes links between these theoretical mainstreams. This work is based on the academic framework establishing a meaningful literature review aimed to respond to our research question and to develop further research in this field. Results: The classical and neo-classical pioneering theories provide initial insights that territories are different and that these differences explain the discrepancies in their levels of prosperity and standards of living. These theories emphasized different factors impacting the level and the growth of productivity in a given area and therefore the degree of their competitiveness. However, these theories are not sufficient to more precisely identify the drivers and enablers of location competitiveness and to explain, in particular, the factors that drive the creation of economic activities, the expansion of economic activities, the creation of new firms and the attraction of foreign firms. Prosperity is due to economic activities created by firms. Therefore, we need more theoretical insights to scrutinize the competitive advantages of territories or, in other words, their ability to offer the best conditions that enable economic agents to achieve higher rates of productivity in open markets. Two major theories provide, to a large extent, the needed insights: the economic geography theory and the international business theory. The economic geography studies scrutinized in this study from Marshall to Porter, aim to explain the drivers of the concentration of specific industries and activities in specific locations. These activity agglomerations may be due to the creation of new enterprises, the expansion of existing firms, and the attraction of firms located elsewhere. Regarding this last possibility, the international business (IB) theories focus on the comparative advantages of locations as far as multinational enterprises (MNEs) strategies are concerned. According to international business theory, the comparative advantages of a location serves firms not only by exploiting their ownership advantages (mostly as far as market seeking, resource seeking and efficiency seeking investments are concerned) but also by augmenting and/or creating new ownership advantages (strategic asset seeking investments). The impact of a location on the competitiveness of firms is considered from both sides: the MNE’s home country and the MNE’s host country.

Keywords: competitiveness, economic geography, international business, attractiveness of businesses

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Authors: Prasenjit Singha, Sunil Yadav, Soumya Ranjan Mohantry, Ajay Kumar Shukla

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Temperature distribution in the hematite ore mixed with 7.5% coal was predicted by solving a 1-D heat conduction equation using an implicit finite difference approach. In this work, it was considered a square slab of 20 cm x 20 cm, which assumed the coal to be uniformly mixed with hematite ore. It was solved the equations with the use of MATLAB 2018a software. Heat transfer effects in this 1D dimensional slab convective and the radiative boundary conditions are also considered. Temperature distribution obtained inside hematite slab by considering microwave heating time, thermal conductivity, heat capacity, carbon percentage, sample dimensions, and many other factors such as penetration depth, permittivity, and permeability of coal and hematite ore mixtures. The resulting temperature profile can be used as a guiding tool for optimizing the microwave-assisted carbothermal reduction process of hematite slab was extended to other dimensions as well, viz., 1 cm x 1 cm, 5 cm x 5 cm, 10 cm x 10 cm, 20 cm x 20 cm. The model predictions are in good agreement with experimental results.

Keywords: hematite ore, coal, microwave processing, heat transfer, implicit method, temperature distribution

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Authors: Ashkan Ebadi, Adam Krzyzak

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Recommender systems, also known as recommender engines, have become an important research area and are now being applied in various fields. In addition, the techniques behind the recommender systems have been improved over the time. In general, such systems help users to find their required products or services (e.g. books, music) through analyzing and aggregating other users’ activities and behavior, mainly in form of reviews, and making the best recommendations. The recommendations can facilitate user’s decision making process. Despite the wide literature on the topic, using multiple data sources of different types as the input has not been widely studied. Recommender systems can benefit from the high availability of digital data to collect the input data of different types which implicitly or explicitly help the system to improve its accuracy. Moreover, most of the existing research in this area is based on single rating measures in which a single rating is used to link users to items. This paper proposes a highly accurate hotel recommender system, implemented in various layers. Using multi-aspect rating system and benefitting from large-scale data of different types, the recommender system suggests hotels that are personalized and tailored for the given user. The system employs natural language processing and topic modelling techniques to assess the sentiment of the users’ reviews and extract implicit features. The entire recommender engine contains multiple sub-systems, namely users clustering, matrix factorization module, and hybrid recommender system. Each sub-system contributes to the final composite set of recommendations through covering a specific aspect of the problem. The accuracy of the proposed recommender system has been tested intensively where the results confirm the high performance of the system.

Keywords: tourism, hotel recommender system, hybrid, implicit features

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Authors: Mohammad Sahadet Hossain, Shamsil Arifeen, Mehrab Hossian Likhon

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In this paper, we analyze a linear time invariant (LTI) descriptor system of large dimension. Since these systems are difficult to simulate, compute and store, we attempt to reduce this large system using Low Rank Cholesky Factorized Alternating Directions Implicit (LRCF-ADI) iteration followed by Square Root Balanced Truncation. LRCF-ADI solves the dual Lyapunov equations of the large system and gives low-rank Cholesky factors of the gramians as the solution. Using these cholesky factors, we compute the Hankel singular values via singular value decomposition. Later, implementing square root balanced truncation, the reduced system is obtained. The bode plots of original and lower order systems are used to show that the magnitude and phase responses are same for both the systems.

Keywords: low-rank cholesky factor alternating directions implicit iteration, LTI Descriptor system, Lyapunov equations, Square-root balanced truncation

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Authors: Nicolò Vaiana, Filip C. Filippou, Giorgio Serino

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In order to reduce numerical computations in the nonlinear dynamic analysis of seismically base-isolated structures, a Mixed Explicit-Implicit time integration Method (MEIM) has been proposed. Adopting the explicit conditionally stable central difference method to compute the nonlinear response of the base isolation system, and the implicit unconditionally stable Newmark’s constant average acceleration method to determine the superstructure linear response, the proposed MEIM, which is conditionally stable due to the use of the central difference method, allows to avoid the iterative procedure generally required by conventional monolithic solution approaches within each time step of the analysis. The main aim of this paper is to investigate the stability and computational efficiency of the MEIM when employed to perform the nonlinear time history analysis of base-isolated structures with sliding bearings. Indeed, in this case, the critical time step could become smaller than the one used to define accurately the earthquake excitation due to the very high initial stiffness values of such devices. The numerical results obtained from nonlinear dynamic analyses of a base-isolated structure with a friction pendulum bearing system, performed by using the proposed MEIM, are compared to those obtained adopting a conventional monolithic solution approach, i.e. the implicit unconditionally stable Newmark’s constant acceleration method employed in conjunction with the iterative pseudo-force procedure. According to the numerical results, in the presented numerical application, the MEIM does not have stability problems being the critical time step larger than the ground acceleration one despite of the high initial stiffness of the friction pendulum bearings. In addition, compared to the conventional monolithic solution approach, the proposed algorithm preserves its computational efficiency even when it is adopted to perform the nonlinear dynamic analysis using a smaller time step.

Keywords: base isolation, computational efficiency, mixed explicit-implicit method, partitioned solution approach, stability

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Authors: Ahmet Diken, Tahsin Karabulut

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The factor which developing countries are in need is capital. Such countries make an effort to increase their income in order to meet their expenses for employment, infrastructure, superstructure investments, education, health and defense. The sole income of the countries is taxes collected from businesses. The businesses should drive profit and return in order to be able to toll. In a world where competition exists, different strategies may be followed by business in developing countries and they must specify their target markets. İn order to minimize cost and maximize profit, SMEs have to concentrate on target markets and select cost oriented strategy. In this study, a theoretical model is suggested that SME firms have to act as cluster between each other, and also must be optimal provider for large scale firms. SMEs’ policy must be supported by public. This relationship can benefit large scale firms to have brand over the world, and this organization increases value added for developing countries.

Keywords: competitiveness, countries, SMEs developing, sustainability

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Authors: O. M. van den Broek

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This article examines how large German companies have responded to the 2014 refugee crisis. It challenges the assumption that the historical legacy of implicit CSR in Germany would lead to low levels of business response through CSR channels. Instead, and building on institutional CSR and the converging forces of globalization, this article argues that the urgency of a humanitarian crisis creates incentives, in the absence of formal institutional arrangement, for explicit CSR responses. This explorative research encompasses the 53 German companies presented on 2015 Forbes2000. A qualitative content analysis of corporate websites was supplemented with inquiry e-mails. Results indicate considerable evidence for the main hypothesis, showing a vast majority of companies responding to the refugee crisis. Levels of engagement varied, depending on the phase of the crisis, from core-business activities to non-integrated action. The high level of partnerships with the state and other non-state actors indicates a quest for enhanced legitimacy in the face of an absent democratic mandate.

Keywords: corporate social responsibility (CSR), implicit versus explicit CSR, public-private partnerships, European refugee crisis

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Authors: Tomas Mitkus, Vaida Nedzinskaitė-Mitkė

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The objective of this study is to identify and explore how adequate is modern innovation support mechanism to developed creative industries. We argue that current development and support strategy for creative industries, although acknowledge high correlation between innovation and creativity, do not seek to improve conditions to promote systematic innovation development in the creative sector. Using the Lithuanian animation industry as a case study, this paper will examine innovation contribution to creativity and, for that matter, the competitiveness of animation enterprises. This paper proposes insights that contribute to theoretical and practical discussions on how creative profile companies build national and international competitiveness through innovations. The conclusions suggest that development of creative industries could greatly benefit if policymakers would implement tools that would encourage creative profile enterprises to invest in to development of innovation at a constant rate.

Keywords: creative industries, innovation policy, innovation, management

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Authors: Elmongi Elbellili, Ben Lauwens, Daan Huybrechs

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The increasing complexity of modern engineering systems presents a challenge to the digital simulation of these systems which usually can be represented by differential equations. The Linearly Implicit Quantized State System (LIQSS) offers an alternative approach to traditional numerical integration techniques for solving Ordinary Differential Equations (ODEs). This method proved effective for handling discontinuous and large stiff systems. However, the inherent discrete nature of LIQSS may introduce oscillations that result in unnecessary computational steps. The current oscillation detection mechanism relies on a condition that checks the significance of the derivatives, but it could be further improved. This paper describes a different cycle detection mechanism and presents the outcomes using LIQSS order one in simulating the Advection Diffusion problem. The efficiency of this new cycle detection mechanism is verified by comparing the performance of the current solver against the new version as well as a reference solution using a Runge-Kutta method of order14.

Keywords: numerical integration, quantized state systems, ordinary differential equations, stiffness, cycle detection, simulation

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Authors: Chandan Deep Singh

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In present days, companies are facing the rapid competition in terms of customer requirements to be satisfied, new technologies to be integrated into future products, new safety regulations to be followed, new computer-based tools to be introduced into design activities that becomes more scientific. In today’s highly competitive market, survival focuses on various factors such as quality, innovation, adherence to standards, and rapid response as the basis for competitive advantage. For competitive advantage, companies have to produce various competencies: for improving the capability of suppliers and for strengthening the process of integrating technology. For more competitiveness, organizations should operate in a strategy driven way and have a strategic architecture for developing core competencies. Traditional ways to take such experience and develop competencies tend to take a lot of time and they are expensive. A new learning environment, which is built around a gaming engine, supports the development of competences in specific subject areas. Technology competencies have a significant role in firm innovation and competitiveness; they interact with the competitive environment. Technological competencies vary according to the type of competitive environment, thus enhancing firm innovativeness. Technological competency is gained through extensive experimentation and learning in its research, development and employment in manufacturing. This is a review paper based on competency and strategic success of automobile industry. The aim here is to study strategy formulation and competency tools in the industry. This work is a review of literature related to competency and strategy in automobile industry. This study involves review of 34 papers related to competency and strategy.

Keywords: manufacturing competency, strategic success, competitiveness, strategy formulation

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Authors: Nicholas Fieseler

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The nature of religion implicit in popular culture is relevant both in and out of the university. The traditional rules-based conception of religion and the ethical systems that emerge from them do not necessarily convey the behavior of daily life as it exists apart from spaces deemed sacred. This paper proposes to examine the religion implicit in the popular culture phenomenon of professional wrestling and how that affects the understanding of popular religion. Pro wrestling, while frequently dismissed, offers a unique manner through which to re-examine religion in popular culture. A global phenomenon, pro wrestling occupies a distinct space in numerous countries and presents a legitimate reflection of human behavior cross-culturally on a scale few other phenomena can equal. Given its global viewership of millions, it should be recognized as a significant means of interpreting the human attraction to violence and its association with religion in general. Hans Urs von Balthasar’s theory of Theodrama will be used to interrogate the inchoate religion within pro wrestling. While Balthasar developed theodrama within the confines of Christian theology; theodrama contains remarkable versatility in its potential utility. Since theodrama re-envisions reality as drama, the actions of every human actor on the stage contributes to the play’s development, and all action contains some transcendent value. It is in this sense that even the “low brow” activity of pro wrestling may be understood in religious terms. Moreover, a pro wrestling storyline acts as a play within a play: the struggles in a pro wrestling match reflect the human attitudes toward life as it exists in the sacred and profane realms. The indistinct lines separating traditionally good (face) from traditionally bad (heel)wrestlers mirror the moral ambiguity in which many people interpret life. This blurred distinction between good and bad, and large segments of an audience’s embrace of the heel wrestlers, reveal ethical constraints that guide the everyday values of pro wrestling spectators, a moral ambivalence that is often overlooked by traditional religious systems, and which has hitherto been neglected in the academic literature on pro wrestling. The significance of interpreting the religion implicit in pro wrestling through a the dramatic lens extends beyond pro wrestling specifically and can examine the religion implicit in popular culture in general. The use of theodrama mitigates the rigid separation often ascribed to areas deemed sacred/ profane, ortranscendent / immanent, enabling a re-evaluation of religion and ethical systems as practiced in popular culture. The use of theodrama will be expressed by utilizing the pro wrestling match as a literary text that reflects the society from which it emerges. This analysis will also reveal the complex nature of religion in popular culture and provides new directions for the academic study of religion. This project consciously bridges the academic and popular realms. The goal of the research is not to add only to the academic literature on implicit religion in popular culture but to publish it in a form which speaks to those outside the standard academic audiences for such work.

Keywords: ethics, popular religion, professional wrestling, theodrama

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Different transportation modes have key operational advantages and disadvantages, providing a variety of different transport options to users and passengers. This paper reviews key variables for the competition between air transport and other transport modes. The aim of this paper is to review the competition between air transport and other transport modes, providing results in terms of perceived cost for the users, for destinations high competitiveness for all transport modes. The competitor analysis variables include the cost and time outputs for each transport option, highlighting the level of competitiveness on high demanded Origin-Destination corridors. The case study presents the output of a such analysis for the OD corridor in Greece that connects the Capital city (Athens) with the second largest city (Thessaloniki) and the different transport modes have been considered (air, train, road). Conventional wisdom is to present an easy to handle tool for planners, managers and decision makers towards pricing policy effectiveness and demand attractiveness, appropriate to use for other similar cases.

Keywords: competitor analysis, transport economics, transport generalized cost, quantitative modelling

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Authors: Teodrose Atnafu Abegaze, P. K. Sharma

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In this study, an attempt has been made to study the behavior of breakthrough curves in both layered and mixed heterogeneous soil by conducting experiments in long soil columns. Sodium chloride has been used as a conservative tracer in the experiment. Advective dispersive transport equations, including equilibrium sorption and first-order degradation coefficients, are used for solute transport through mobile-immobile porous media. In order to do the governing equation for solute transport, there are explicit and implicit schemes for our condition; we use an implicit scheme to numerically model the solute concentration. Results of experimental breakthrough curves indicate that the behavior of observed breakthrough curves is approximately similar in both cases of layered and mixed soil, while earlier arrival of solute concentration is obtained in the case of mixed soil. It means that the types of heterogeneity of the soil media affect the behavior of solute concentration. Finally, it is also shown that the asymptotic dispersion model simulates the experimental data better than the constant and linear distance-dependent dispersion models.

Keywords: numerical method, distance dependant dispersion, reactive transport, experiment

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Authors: Lawrence A. Farinola

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Four point implicit schemes for the approximation of the first and pure second order derivatives for the solution of the Dirichlet problem for one dimensional Schrodinger equation with respect to the time variable t were constructed. Also, special four-point implicit difference boundary value problems are proposed for the first and pure second derivatives of the solution with respect to the spatial variable x. The Grid method is also applied to the mixed second derivative of the solution of the Linear Schrodinger time-dependent equation. It is assumed that the initial function belongs to the Holder space C⁸⁺ᵃ, 0 < α < 1, the Schrodinger wave function given in the Schrodinger equation is from the Holder space Cₓ,ₜ⁶⁺ᵃ, ³⁺ᵃ/², the boundary functions are from C⁴⁺ᵃ, and between the initial and the boundary functions the conjugation conditions of orders q = 0,1,2,3,4 are satisfied. It is proven that the solution of the proposed difference schemes converges uniformly on the grids of the order O(h²+ k) where h is the step size in x and k is the step size in time. Numerical experiments are illustrated to support the analysis made.

Keywords: approximation of derivatives, finite difference method, Schrödinger equation, uniform error

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Authors: Zhijie Li, Wenhui Peng, Zelong Yuan, Jianchun Wang

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Turbulence is a complex phenomenon that plays a crucial role in various fields, such as engineering, atmospheric science, and fluid dynamics. Predicting and understanding its behavior over long time scales have been challenging tasks. Traditional methods, such as large-eddy simulation (LES), have provided valuable insights but are computationally expensive. In the past few years, machine learning methods have experienced rapid development, leading to significant improvements in computational speed. However, ensuring stable and accurate long-term predictions remains a challenging task for these methods. In this study, we introduce the implicit U-net enhanced Fourier neural operator (IU-FNO) as a solution for stable and efficient long-term predictions of the nonlinear dynamics in three-dimensional (3D) turbulence. The IU-FNO model combines implicit re-current Fourier layers to deepen the network and incorporates the U-Net architecture to accurately capture small-scale flow structures. We evaluate the performance of the IU-FNO model through extensive large-eddy simulations of three types of 3D turbulence: forced homogeneous isotropic turbulence (HIT), temporally evolving turbulent mixing layer, and decaying homogeneous isotropic turbulence. The results demonstrate that the IU-FNO model outperforms other FNO-based models, including vanilla FNO, implicit FNO (IFNO), and U-net enhanced FNO (U-FNO), as well as the dynamic Smagorinsky model (DSM), in predicting various turbulence statistics. Specifically, the IU-FNO model exhibits improved accuracy in predicting the velocity spectrum, probability density functions (PDFs) of vorticity and velocity increments, and instantaneous spatial structures of the flow field. Furthermore, the IU-FNO model addresses the stability issues encountered in long-term predictions, which were limitations of previous FNO models. In addition to its superior performance, the IU-FNO model offers faster computational speed compared to traditional large-eddy simulations using the DSM model. It also demonstrates generalization capabilities to higher Taylor-Reynolds numbers and unseen flow regimes, such as decaying turbulence. Overall, the IU-FNO model presents a promising approach for long-term dynamics prediction in 3D turbulence, providing improved accuracy, stability, and computational efficiency compared to existing methods.

Keywords: data-driven, Fourier neural operator, large eddy simulation, fluid dynamics

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Authors: Savin Phoeun

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Long time civil war, economic, infrastructure, social, and political structure were destroyed and everything starts from zero. Transport and communication are the key feature of the national economic growth, especially inland transport and other mode take a complementary role which supported by government and international organization both direct and indirect to private sector and small and medium size enterprises. The objectives of this study are to study the general characteristics, capacity and competitive KPIs of Cambodian Inland Transport Operators. Questionnaire and interview were formed from capacity and competitiveness key performance indicators to take apart in survey to Inland Transport Companies in Phnom Penh capital city of Cambodia. And descriptive statistics was applied to identify the data. The result of this study divided into three distinct sectors: 1). Management ability of transport operators – capital management, financial and qualification are in similar level which can compete between local competitors (moderated level). 2). Ability in operation: customer service providing is better but seemed in high cost operation because mostly they are in family size. 3). Local Cambodian Inland Transport Service Providers are able to compete with each other because they are in similar operation level while Thai competitors mostly higher than. The suggestion and recommendation from the result that inland transport companies should access to new technology, improve strategic management, build partnership (join/corporate) to be bigger size of capital and company in order to attract truthfulness from customers and customize the services to satisfy. Inland Service Providers should change characteristic from only cost competitive to cost saving and service enhancement.

Keywords: assessment, competitiveness, inland transport, operator

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Authors: Duong Thuy Nguyen, Giulia Bencini

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The present study examined structural and prosodic factors on the computation of antecedent-reflexive relationships and sentence comprehension in native English (L1) and Vietnamese-English bilinguals (L2). Participants read sentences presented on the computer screen in one of three presentation formats aimed at manipulating prosodic parsing: word-by-word (RSVP), phrase-segment (self-paced), or whole-sentence (self-paced), then completed a grammaticality rating and a comprehension task (following Pratt & Fernandez, 2016). The design crossed three factors: syntactic structure (simple; complex), grammaticality (target-match; target-mismatch) and presentation format. An example item is provided in (1): (1) The actress that (Mary/John) interviewed at the awards ceremony (about two years ago/organized outside the theater) described (herself/himself) as an extreme workaholic). Results showed that overall, both L1 and L2 speakers made use of a good-enough processing strategy at the expense of more detailed syntactic analyses. L1 and L2 speakers’ comprehension and grammaticality judgements were negatively affected by the most prosodically disrupting condition (word-by-word). However, the two groups demonstrated differences in their performance in the other two reading conditions. For L1 speakers, the whole-sentence and the phrase-segment formats were both facilitative in the grammaticality rating and comprehension tasks; for L2, compared with the whole-sentence condition, the phrase-segment paradigm did not significantly improve accuracy or comprehension. These findings are consistent with the findings of Pratt & Fernandez (2016), who found a similar pattern of results in the processing of subject-verb agreement relations using the same experimental paradigm and prosodic manipulation with English L1 and L2 English-Spanish speakers. The results provide further support for a Good-Enough cue model of sentence processing that integrates cue-based retrieval and implicit prosodic parsing (Pratt & Fernandez, 2016) and highlights similarities and differences between L1 and L2 sentence processing and comprehension.

Keywords: anaphora resolution, bilingualism, implicit prosody, sentence processing

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Authors: Prema Basargekar

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Facilitating the subject ‘Entrepreneurship Education’ in higher education, such as management studies, can be exhilarating as well as challenging. It is a multi-disciplinary and ever-evolving subject. Capturing entrepreneurship as a phenomenon in a holistic manner is a daunting task as it requires covering various dimensions such as new ideas generation, entrepreneurial traits, business opportunities scanning, the role of policymakers, value creation, etc., to name a few. Implicit entrepreneurship theory and effectuation are two different theories that focus on engaging the participants to create content by using their own experiences, perceptions, and belief systems. It helps in understanding the phenomenon holistically. The assumption here is that all of us are part of the entrepreneurial ecosystem, and effective learning can come through active engagement and peer learning by all the participants together. The present study is an attempt to use these theories in the class assignment given to the students at the beginning of the course to build the course content and understand entrepreneurship as a phenomenon in a better way through peer learning. The assignment was given to three batches of MBA post-graduate students doing the program in one of the private business schools in India. The subject of ‘Entrepreneurship Management’ is facilitated in the third trimester of the first year. At the beginning of the course, the students were given the assignment to submit a brief write-up/ collage/picture/poem or in any other format about “What entrepreneurship means to you?” They were asked to give their candid opinions about entrepreneurship as a phenomenon as they perceive it. Nearly 156 students doing post-graduate MBA submitted the assignment. These assignments were further used to find answers to two research questions. – 1) Are students able to use divergent and innovative forms to express their opinions, such as poetry, illustrations, videos, etc.? 2) What are various dimensions of entrepreneurship which are emerging to understand the phenomenon in a better way? The study uses the Brawn and Clark framework of reflective thematic analysis for qualitative analysis. The study finds that students responded to this assignment enthusiastically and expressed their thoughts in multiple ways, such as poetry, illustration, personal narrative, videos, etc. The content analysis revealed that there could be seven dimensions to looking at entrepreneurship as a phenomenon. They are 1) entrepreneurial traits, 2) entrepreneurship as a journey, 3) value creation by entrepreneurs in terms of economic and social value, 4) entrepreneurial role models, 5) new business ideas and innovations, 6) personal entrepreneurial experiences and aspirations, and 7) entrepreneurial ecosystem. The study concludes that an implicit approach to facilitate entrepreneurship education helps in understanding it as a live phenomenon. It also encourages students to apply divergent and convergent thinking. It also helps in triggering new business ideas or stimulating the entrepreneurial aspirations of the students. The significance of the study lies in the application of implicit theories in the classroom to make higher education more engaging and effective.

Keywords: co-creation of content, divergent thinking, entrepreneurship education, implicit theory

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Authors: Erindi Allaj

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This paper studies arbitrage pricing theory in financial markets with transaction costs. We extend the existing theory to include the more realistic possibility that the price at which the investors trade is dependent on the traded volume. The investors in the market always buy at the ask and sell at the bid price. Transaction costs are composed of two terms, one is able to capture the implicit transaction costs and the other the price impact. Moreover, a new definition of a self-financing portfolio is obtained. The self-financing condition suggests that continuous trading is possible, but is restricted to predictable trading strategies which have left and right limit and finite quadratic variation. That is, predictable trading strategies of infinite variation and of finite quadratic variation are allowed in our setting. Within this framework, the existence of an equivalent probability measure is equivalent to the absence of arbitrage opportunities, so that the first fundamental theorem of asset pricing (FFTAP) holds. It is also proved that, when this probability measure is unique, any contingent claim in the market is hedgeable in an L2-sense. The price of any contingent claim is equal to the risk-neutral price. To better understand how to apply the theory proposed we provide an example with linear transaction costs.

Keywords: arbitrage pricing theory,
transaction costs, fundamental theorems of arbitrage, financial markets

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Authors: N. G. Teik Hiang, Fathyah Hashim

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This is a case of how strategic management techniques can be used to help resolving problems faced by an ageing Small and Medium Enterprise (SME). Strategic way of resolving problems had been proven to be possible in this case despite general thought that strategic management is useful mostly for large corporations. Small and Medium Enterprises (SMEs) can also use strategic management in managing their business and determining their future cause of action and strategies in order to survive in this ever competent world. Strategic orientation is the key to survival and development of small and medium enterprises. In order to adapt to the fierce market competition, ageing SMEs should improve competitiveness and operational efficiency. They must therefore establish a sense of strategic management to improve the strategic management skills, combined with its own unique characteristics, and work out practical strategies to develop core competitiveness of enterprises in the fierce market competition in order to be sustainable. In this case, internal strengths and weaknesses of an SME had been identified. Strategic internal factors and external factors had been classified and further utilized to formulate potential strategies to encounter various problems faced by the SME. These strategies had been further match to take advantages of the opportunities and to overcome the weaknesses and minimize the threats it is facing. Tan, a consultant who was given the opportunity to formulate a plan for the business started with the environmental scanning (internal and external environmental analysis), assessing strengths and weaknesses for the company, strategies generation, analysis and evaluation. He had numerous discussions with the owner of the business and the senior management in order to match the key internal and external factors to formulate alternative strategies for solving the problems that the company facing. Some of the recommendations or solutions are generated from the inspiration of the owner of the business who is a very enterprising and experience businessman.

Keywords: strategic orientation, strategic management, SME, core competitiveness, sustainable

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Authors: Pragya Bhawsar, Utpal Chattopadhyay

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Small and Medium Enterprises play crucial role in contributing to economic objectives of an emerging nation. To support SMEs, the idea of creation of clusters has been prevalent since past two decades. In this paper, an attempt has been done to explore the impact of being in the cluster on the competitiveness of SMEs. To meet the objective, Nasik Cluster (India) has been selected. The information was collected by means of two focus group discussions and survey of thirty SMEs. The finding generates interest revealing the fact that under the concept ‘Cluster’ a lot of ambiguity flourish. Besides the problems and opportunities of the firms in the cluster the results bring to notice that the benefits of clusterization can only reach to SMEs when the whole location can be considered/understood as a cluster, rather than many subsets (various forms of clusters) prevailing under it. Fostering such an understanding calls for harmony among the various stakeholders of the clusters. The dynamics of interaction among government, local industry associations, relevant institutions, large firms and finally SMEs which makes the most of the location based cluster, are significant in shaping the host cluster’s competitiveness and vice versa.

Keywords: SMEs, industry clusters, common facility centres, co-creation, policy

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Authors: Sung-Chul Hwang, Di Ren, Sang-Moon Yoon, Jong-Chun Park, Abbas Khayyer, Hitoshi Gotoh

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The slamming impact problem has a very important engineering background. For seaplane landing, recycling for the satellite re-entry capsule, and the impact load of the bow in the adverse sea conditions, the slamming problem always plays the important role. Due to its strong nonlinear effect, however, it seems to be not easy to obtain the accurate simulation results. Combined with the strong interaction between the fluid field and the elastic structure, the difficulty for the simulation leads to a new level for challenging. This paper presents a fully Lagrangian coupled solver for simulations of fluid-structure interactions, which is based on the Moving Particle Semi-implicit (MPS) method to solve the governing equations corresponding to incompressible flows as well as elastic structures. The developed solver is verified by reproducing the high velocity impact loads of deformable thin wedges with two different materials such as aluminum and steel on water entry. The present simulation results are compared with analytical solution derived using the hydrodynamic Wagner model and linear theory by Wan.

Keywords: fluid-structure interaction, moving particle semi-implicit (MPS) method, elastic structure, incompressible flow, wedge slamming impact

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Authors: Stéphanie Looser, Walter Wehrmeyer

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Given the limited research on Small and Mediumsized Enterprises’ (SMEs) contribution to Corporate Social Responsibility (CSR) and even scarcer research on Swiss SMEs, this paper helps to fill these gaps by enabling the identification of supranational SME parameters and to make a contribution to the evolving field of these topics. Thus, the paper investigates the current state of SME practices in Switzerland and across 15 other countries. Combining the degree to which SMEs demonstrate an explicit (or business case) approach or see CSR as an implicit moral activity with the assessment of their attributes for “variety of capitalism” defines the framework of this comparative analysis. According to previous studies, liberal market economies, e.g. in the United States (US) or United Kingdom (UK), are aligned with extrinsic CSR, while coordinated market systems (in Central European or Asian countries) evolve implicit CSR agendas. To outline Swiss small business CSR patterns in particular, 40 SME owner-managers were interviewed. The transcribed interviews were coded utilising MAXQDA for qualitative content analysis. A secondary data analysis of results from different countries (i.e., Australia, Austria, Chile, Cameroon, Catalonia (notably a part of Spain that seeks autonomy), China, Finland, Germany, Hong Kong (a special administrative region of China), Italy, Netherlands, Singapore, Spain, Taiwan, UK, US) lays groundwork for this comparative study on small business CSR. Applying the same coding categories (in MAXQDA) for the interview analysis as well as for the secondary data research while following grounded theory rules to refine and keep track of ideas generated testable hypotheses and comparative power on implicit (and the lower likelihood of explicit) CSR in SMEs retrospectively. The paper identifies Swiss small business CSR as deep, profound, “soul”, and an implicit part of the day-to-day business. Similar to most Central European, Mediterranean, Nordic, and Asian countries, explicit CSR is still very rare in Swiss SMEs. Astonishingly, also UK and US SMEs follow this pattern in spite of their strong and distinct liberal market economies. Though other findings show that nationality matters this research concludes that SME culture and its informal CSR agenda are strongly formative and superseding even forces of market economies, nationally cultural patterns, and language. In a world of “big business”, explicit “business case” CSR, and the mantra that “CSR must pay”, this study points to a distinctly implicit small business CSR model built on trust, physical closeness, and virtues that is largely detached from the bottom line. This pattern holds for different cultural contexts and it is concluded that SME culture is stronger than nationality leading to a supra-national, monolithic SME CSR approach. Hence, classifications of countries by their market system or capitalism, as found in the comparative capitalism literature, do not match the CSR practices in SMEs as they do not mirror the peculiarities of their business. This raises questions on the universality and generalisability of management concepts.

Keywords: CSR, comparative study, cultures of capitalism, small, medium-sized enterprises

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Authors: Ari Lindeman, Melina Maunula, Jani Kiviranta, Ronja Pölkki

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The aim of this paper is to build a vision of the utilization of creative industry competences in industrial and services firms connected to Kymenlaakso region, Finland, smart specialization focus areas. Research indicates that creativity and the use of creative industry’s inputs can enhance innovation and competitiveness. Currently creative methods and services are underutilized in regional businesses and the added value they provide is not well grasped. Methodologically, the research adopts a qualitative exploratory approach. Data is collected in multiple ways including a survey, focus groups, and interviews. Theoretically, the paper contributes to the discussion about the use creative industry competences in regional development, and argues for building regional creative economy ecosystems in close co-operation with regional strategies and traditional industries rather than as treating regional creative industry ecosystem initiatives separate from them. The practical contribution of the paper is the creative vision for the use of regional authorities in updating smart specialization strategy as well as boosting industrial and creative & cultural sectors’ competitiveness. The paper also illustrates a research-based model of vision building.

Keywords: business, cooperation, creative economy, regional development, vision

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Authors: Shih-Wen Hsiao, Rong-Qi Chen, Chien-Yu Lin

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The topic of surface flattening plays a vital role in the field of computer aided design and manufacture. Surface flattening enables the production of 2D patterns and it can be used in design and manufacturing for developing a 3D surface to a 2D platform, especially in fashion design. This study describes surface flattening based on minimum energy methods according to the property of different fabrics. Firstly, through the geometric feature of a 3D surface, the less transformed area can be flattened on a 2D platform by geodesic. Then, strain energy that has accumulated in mesh can be stably released by an approximate implicit method and revised error function. In some cases, cutting mesh to further release the energy is a common way to fix the situation and enhance the accuracy of the surface flattening, and this makes the obtained 2D pattern naturally generate significant cracks. When this methodology is applied to a 3D mannequin constructed with feature lines, it enhances the level of computer-aided fashion design. Besides, when different fabrics are applied to fashion design, it is necessary to revise the shape of a 2D pattern according to the properties of the fabric. With this model, the outline of 2D patterns can be revised by distributing the strain energy with different results according to different fabric properties. Finally, this research uses some common design cases to illustrate and verify the feasibility of this methodology.

Keywords: surface flattening, strain energy, minimum energy, approximate implicit method, fashion design

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Authors: Julio Macedo

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Several methodologies are now available to conceive the improvements of a process so that it becomes competitive as for example total quality, process reengineering, six sigma, define measure analysis improvement control method. These improvements are of different nature and can be external to the process represented by an optimization model or a discrete simulation model. In addition, the process stakeholders are several and have different desired performances for the process. Hence, the methodologies above do not have a tool to aid in the conception of the required improvements. In order to fill this void we suggest the use of intelligent reference models. A reference model is a set of qualitative differential equations and an objective function that minimizes the gap between the current and the desired performance indexes of the process. The reference models are intelligent so when they receive the current state of the problematic process and the desired performance indexes they generate the required improvements for the problematic process. The reference models are fuzzy cognitive maps added with an objective function and trained using the improvements implemented by the high performance firms. Experiments done in a set of students show the reference models allow them to conceive more improvements than students that do not use these models.

Keywords: continuous improvement, fuzzy cognitive maps, process competitiveness, qualitative simulation, system dynamics

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Authors: Chintida Vichitsophaphan, Piyapat Chitpirom, Chaichana Nimnuan, Teerakiat Jareonsettasin

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The purpose of this research is to study the influence of a growth mindset, as defined by Prof. Dweck, in Thai teachers and Thai students’ achievements and success. The participants of the study were teachers of schools in Office of the Basic Education Commission in Bangkok. The teachers were recruited from high achievement schools and low achievement schools (based on average National Standard Test Score). Participants were divided into two groups: 85 teachers in 3 high achievement schools and 213 teachers in 6 low achievement schools. They were asked to complete the Carol Dweck’s Implicit Theories Scale – (Adults) 8 items. Data were analyzed including the use of mean, standard deviation and t-test to test hypothesis. The finding of this study revealed that teachers who were in the high achievement schools have higher scores in Carol Dweck’s Implicit Theories Scale (x ̅= 35.5, SE = .58) than teachers who were in the low achievement schools (x ̅= 33.9, SE = .35) at .05 level. The difference is statistically significant (t (296) = 2.44, p = .015) with the effect size of 0.31. In conclusion, teachers’ growth mindset from high achievement schools have higher scores than teachers’ growth mindset from low achievement schools, and this is statistically significant. From the study, it can be concluded that growth mindset development for teachers has a tendency to increase students’ achievements. For these reasons, it is necessary to implement such training and development in our education system in larger scale, and even nationwide policies.

Keywords: fixed mindset, growth mindset, students’ achievement, teachers’ growth mindset

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Authors: Saiful Islam, Deuk Jong Bae

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The purpose of this study is to examine citizen satisfaction and competitiveness of a Public Private Partnership project. The study focuses on PPP in the transport sector and investigates the New Bundang Subway Line (NBL) in South Korea as the object of a case study. Most PPP studies are dominated by the study of public and private sector interests, which are classified in to three major areas comprising of policy, finance, and management. This study will explore the user perspective by assessing customer satisfaction upon NBL cost and service quality, also the competitiveness of NBL compared to other alternative transport modes which serve the Jeongja – Gangnam trip or vice versa. The regular Bundang Subway Line, New Bundang Subway Line, bus and private vehicle are selected as the alternative transport modes. The study analysed customer satisfaction of NBL and citizen’s preference of alternative transport modes based on a survey in Bundang district, South Korea. Respondents were residents and employees who live or work in Bundang city, and were divided into the following areas Pangyo, Jeongjae – Sunae, Migeun – Ori – Jukjeon, and Imae – Yatap – Songnam. The survey was conducted in January 2015 for two weeks, and 753 responses were gathered. By applying the Hedonic Utility approach, the factors which affect the frequency of using NBL were found to be overall customer satisfaction, convenience of access, and the socio economic demographic of the individual. In addition, by applying the Analytic Hierarchy Process (AHP) method, criteria factors influencing the decision to select alternative transport modes were identified. Those factors, along with the author judgement of alternative transport modes, and their associated criteria and sub-criteria produced a priority list of user preferences regarding their alternative transport mode options. The study found that overall the regular Bundang Subway Line (BL), which was built and operated under a conventional procurement method was selected as the most preferable transport mode due to its cost competitiveness. However, on the sub-criteria level analysis, the NBL has competitiveness on service quality, particularly on journey time. By conducting a sensitivity analysis, the NBL can become the first choice of transport by increasing the NBL’s degree of weight associated with cost by 0,05. This means the NBL would need to reduce either it’s fare cost or transfer fee, or combine those two cost components to reduce the total of the current cost by 25%. In addition, the competitiveness of NBL also could be obtained by increasing NBL convenience through escalating access convenience such as constructing an additional station or providing more access modes. Although these convenience improvements would require a few extra minutes of journey time, the user found this to be acceptable. The findings and policy suggestions can contribute to the next phase of NBL development, showing that consideration should be given to the citizen’s voice. The case study results also contribute to the literature of PPP projects specifically from a user side perspective.

Keywords: public private partnership, customer satisfaction, public transport, new Bundang subway line

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Authors: Nicolò Vaiana, Filip C. Filippou, Giorgio Serino

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The solution of the nonlinear dynamic equilibrium equations of base-isolated structures adopting a conventional monolithic solution approach, i.e. an implicit single-step time integration method employed with an iteration procedure, and the use of existing nonlinear analytical models, such as differential equation models, to simulate the dynamic behavior of seismic isolators can require a significant computational effort. In order to reduce numerical computations, a partitioned solution method and a one dimensional nonlinear analytical model are presented in this paper. A partitioned solution approach can be easily applied to base-isolated structures in which the base isolation system is much more flexible than the superstructure. Thus, in this work, the explicit conditionally stable central difference method is used to evaluate the base isolation system nonlinear response and the implicit unconditionally stable Newmark’s constant average acceleration method is adopted to predict the superstructure linear response with the benefit in avoiding iterations in each time step of a nonlinear dynamic analysis. The proposed mathematical model is able to simulate the dynamic behavior of seismic isolators without requiring the solution of a nonlinear differential equation, as in the case of widely used differential equation model. The proposed mixed explicit-implicit time integration method and nonlinear exponential model are adopted to analyze a three dimensional seismically isolated structure with a lead rubber bearing system subjected to earthquake excitation. The numerical results show the good accuracy and the significant computational efficiency of the proposed solution approach and analytical model compared to the conventional solution method and mathematical model adopted in this work. Furthermore, the low stiffness value of the base isolation system with lead rubber bearings allows to have a critical time step considerably larger than the imposed ground acceleration time step, thus avoiding stability problems in the proposed mixed method.

Keywords: base-isolated structures, earthquake engineering, mixed time integration, nonlinear exponential model

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