Search results for: small business
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 7264

Search results for: small business

7084 Management Pattern for Service Sector in Samut Songkram by Sufficient Economy Approach

Authors: Krisada Sungkhamanee

Abstract:

The objectives of this research are to search the management pattern of one district lodging entrepreneurs by sufficient economy ways, to know the constrains that affects this sector and design fit arrangement shape to sustain their business with Samut Songkram style. What will happen if they do not use this approach? Will they have a monetary crisis? The data and information are collected by informal discussions with 8 managers and 400 questionnaires. A mixed methods of both qualitative research and quantitative research are used and Bent Flyvbjerg’s phronesis is utilized for this analysis. Our paper will prove that sufficient economy can help small business firms to solve their problems. We think that the results of our research will be a financial pattern to solve many problems of the entrepreneurs and this way will can be a super model for other provinces of Thailand.

Keywords: Samut Songkram, service sector, sufficient economy, management pattern

Procedia PDF Downloads 337
7083 The Barriers in the Adoption of E-readiness and Affective E-Business of Developing Countries: From the Prospective of Pakistani Organizations

Authors: Asma Moomal, Maslin Masrom

Abstract:

The literature has identified that the competition among the business firms has been intensified due to the change in operating environment such as; knowledge diffusion, amount of R&D investments, and the adoption of technological innovation. Correspondingly, the E-business has potential to add a higher value to business and consumers in developed countries than in developing countries. However, the technological innovation (such as e-readiness) also considered as the major influential element on the firms competitiveness and development, Yet most of the developing countries including Pakistan failed to reap the benefits offered by modern information and communication technologies adoption (e-readiness), e-business and other innovative technologies. Thus, this paper reviewed the relevant literature in order to examine the barriers to the adoption of e-readiness and e-business in the organizations of Pakistan. The data collection technique used in this study was done through the secondary data resources (i.e. the existing literature analysis). The result of the study reveals that the most of the organizations of Pakistan like other developing countries are lagging behind in terms of adoption of e-readiness and e-business as compared to the developed countries of the world.

Keywords: e-readiness, e-business, potential, technological innovation

Procedia PDF Downloads 491
7082 Curved Rectangular Patch Array Antenna Using Flexible Copper Sheet for Small Missile Application

Authors: Jessada Monthasuwan, Charinsak Saetiaw, Chanchai Thongsopa

Abstract:

This paper presents the development and design of the curved rectangular patch arrays antenna for small missile application. This design uses a 0.1mm flexible copper sheet on the front layer and back layer, and a 1.8mm PVC substrate on a middle layer. The study used a small missile model with 122mm diameter size with speed 1.1 Mach and frequency range on ISM 2.4 GHz. The design of curved antenna can be installation on a cylindrical object like a missile. So, our proposed antenna design will have a small size, lightweight, low cost, and simple structure. The antenna was design and analysis by a simulation result from CST microwave studio and confirmed with a measurement result from a prototype antenna. The proposed antenna has a bandwidth covering the frequency range 2.35-2.48 GHz, the return loss below -10 dB and antenna gain 6.5 dB. The proposed antenna can be applied with a small guided missile effectively.

Keywords: rectangular patch arrays, small missile antenna, antenna design and simulation, cylinder PVC tube

Procedia PDF Downloads 285
7081 Applying Business Model Patterns: A Case Study in Latin American Building Industry

Authors: James Alberto Ortega Morales, Nelson Andrés Martínez Marín

Abstract:

The bulding industry is one of the most important sectors all around the world in terms of contribution to index like GDP and labor. On the other hand, it is a major contributor to Greenhouse Gases (GHG) and waste generation contributing to global warming. In this sense, it is necessary to establish sustainable practices both from the strategic point of view to the operations point of view as well in all business and industries. Business models don’t scape to this reality attending it´s mediator role between strategy and operations. Business models can turn from the traditional practices searching economic benefits to sustainable bussines models that generate both economic value and value for society and the environment. Recent advances in the analysis of sustainable business models find different classifications that allow finding potential triple bottom line (economic, social and environmental) solutions applicable in every business sector. Into the metioned Advances have been identified, 11 groups and 45 patterns of sustainable business models have been identified; such patterns can be found either in the business models as a whole or found concurrently in their components. This article presents the analysis of a case study, seeking to identify the components and elements that are part of it, using the ECO CANVAS conceptual model. The case study allows showing the concurrent existence of different patterns of business models for sustainability empirically, serving as an example and inspiration for other Latin American companies interested in integrating sustainability into their new and existing business models.

Keywords: sustainable business models, business sustainability, business model patterns, case study, construction industry

Procedia PDF Downloads 80
7080 Business-to-Business Deals Based on a Co-Utile Collaboration Mechanism: Designing Trust Company of the Future

Authors: Riccardo Bonazzi, Michaël Poli, Abeba Nigussie Turi

Abstract:

This paper presents an applied research of a new module for the financial administration and management industry, Personalizable and Automated Checklists Integrator, Overseeing Legal Investigations (PACIOLI). It aims at designing the business model of the trust company of the future. By identifying the key stakeholders, we draw a general business process design of the industry. The business model focuses on disintermediating the traditional form of business through the new technological solutions of a software company based in Switzerland and hence creating a new interactive platform. The key stakeholders of this interactive platform are identified as IT experts, legal experts, and the New Edge Trust Company (NATC). The mechanism we design and propose has a great importance in improving the efficiency of the financial business administration and management industry, and it also helps to foster the provision of high value added services in the sector.

Keywords: new edge trust company, business model design, automated checklists, financial technology

Procedia PDF Downloads 334
7079 A Case Study on the Impact of Technology Readiness in a Department of Clinical Nurses

Authors: Julie Delany

Abstract:

To thrive in today’s digital climate, it is vital that organisations adopt new technology and prepare for rising digital trends. This proves more difficult in government where, traditionally, people lack change readiness. While individuals may have a desire to work smarter, this does not necessarily mean embracing technology. This paper discusses the rollout of an application into a small department of highly experienced nurses. The goal was to both streamline the department's workflow and provide a platform for gathering essential business metrics. The biggest challenges were adoption and motivating the nurses to change their routines and learn new computer skills. Two-thirds struggled with the change, and as a result, some jeopardised the validity of the business metrics. In conclusion, there are lessons learned and recommendations for similar projects.

Keywords: change ready, information technology, end-user, iterative method, rollout plan, data analytics

Procedia PDF Downloads 103
7078 COVID-19 Impact on Online Digital Marketing Business Activities

Authors: Balwinder Singh, Veerpaul Kaur Mann

Abstract:

The COVID-19 had a dramatic impact on several countries across the world. National governments have imposed widespread restrictions to prevent the growth of this pandemic. The new health competitive scenario induced by the COVID-19 crisis raised many issues on how business activities should be reorganized due to the difficulties of physical interactions with distributors, suppliers and customers. The pandemic has particularly affected the whole marketing processes because of the relevant issues emerged in managing physical sale channels and interactions with one another, both in the Business-to-Consumer and in the Business-to-Business markets. Recent research about the appropriate actions and strategies that could help firms overcome the crisis has highlighted the key role of digital technologies that may ensure connections and, thus, help business activities to run smoothly. This could be true, especially with the emergence of strong limitations on physical interactions during the COVID-19 pandemic. In such a scenario, the online channel becomes the most important conducive for online customers to get in contact with the firm and carry out online purchasing activities.

Keywords: COVID-19, business, digital marketing, online customers

Procedia PDF Downloads 14
7077 Effects of Service Quality Management Capability and Business Alliance Effectiveness on Performance of Tourist Agency Business in Thailand: The Moderating Role of Organizational Climate

Authors: Chanthima Phromket, Jakret Mettathamrong, Parnisara Prajudtasri

Abstract:

The purpose of this paper is to investigate the relationship between effects of service quality management capability and business alliance effectiveness on the performance of tourist agency business in Thailand: The moderating role of organizational climate. A survey was used as a research instrument and was given to the owner/managers of tourist agency business in Thailand. The model is tested using the data collected from 400 tourist agency business in Thailand. The results indicate that service quality management capability have the positive influence on business alliance effectiveness and performance. Trust, commitment, and cooperation are the antecedents that have a positive effect on the performance, and the results show non-significant when it is moderated by Organizational climate. Thus, contributions and suggestions are also provided for further research.

Keywords: service quality management capability, business alliance effectiveness, organizational climate, tourist agency

Procedia PDF Downloads 358
7076 Extension Services' Needs of Small Farmers in Biliran Province, Philippines

Authors: Mario C. Nierras

Abstract:

This study aimed to determine the extension services’ needs of small farmers in Biliran province, Philippines. It also sought to find out other issues/concerns of the small farmers. Extension services’ needs of small farmers were gathered through personal interviewing and observational analysis of randomly-selected small farmers in Biliran, Philippines. Biliran small farmers extension services’ needs include: raising fruits, raising legumes, raising vegetables, raising swine, raising cattle, and raising chicken (as priority broad skills). For the specific skills, diagnosing symptoms on fertilizer deficiencies, controlling plant pests and diseases, diagnosing signs on specific pest and disease damage, controlling animal pests and diseases, and doing artificial insemination were the priority skills. They considered an on-farm trial of new technology as most needed to be coupled with industry and quality-orientedness, as positive behaviors needed in farming success. The farmers still adhere to the so-called wait-and-see attitude, thus they are more convinced to follow a particular technology if they see a concrete result of the introduced changes. Technical needs prioritization of Biliran small farmers showed that they have a real need for crop and animal production skills to include the other issues/concerns. Extension service program planning for small farmers should be patterned after their technical needs giving due attention to some issues/concerns so that extension work could deliver the right skills for the right needs of the farmers.

Keywords: extension, extension service, extension service needs, extension service program, farmers, small farmers, marginal farmers

Procedia PDF Downloads 408
7075 Impact of Enhanced Business Models on Technology Companies in the Pandemic: A Case Study about the Revolutionary Change in Management Styles

Authors: Murat Colak, Berkay Cakir Saridogan

Abstract:

Since the dawn of modern corporations, almost every single employee has been working in the same loop, which contains three basic steps: going to work, providing the needs for the work, and getting back home. Only a small amount of people were able to break that standard and live outside the box. As the 2019 pandemic hit the Earth and most companies shut down their physical offices, that loop had to change for everyone. This means that the old management styles had to be significantly re-arranged to the "work from home" type of business methods. The methods include online conferences and meetings, time and task tracking using algorithms, globalization of the work, and, most importantly, remote working. After the global epidemic started, even the tech giants were concerned. Now, it can be seen those technology companies have an incredible step-up in their shares compared to the other companies because they know how to manage such situations even better than every other industry. This study aims to take the old traditional management styles in big companies and compare them with the post-covid methods (2019-2022). As a result of this comparison made using the annual reports and shared statistics, this study aims to explain why the winners of this crisis are the technology companies.

Keywords: Covid-19, technology companies, business models, remote work

Procedia PDF Downloads 36
7074 Bridging the Gap through New Media Technology Acceptance: Exploring Chinese Family Business Culture

Authors: Farzana Sharmin, Mohammad Tipu Sultan

Abstract:

Emerging new media technology such as social media and social networking sites have changed the family business dynamics in Eastern Asia. The family business trends in China has been developed at an exponential rate towards technology. In the last two decades, many of this family business has succeeded in becoming major players in the Chinese and world economy. But there are a very few availabilities of literature on Chinese context regarding social media acceptance in terms of the family business. Therefore, this study has tried to cover the gap between culture and new media technology to understand the attitude of Chinese young entrepreneurs’ towards the family business. This paper focused on two cultural dimensions (collectivism, long-term orientation), which are adopted from Greet Hofstede’s. Additionally perceived usefulness and ease of use adopted from the Technology Acceptance Model (TAM) to explore the actual behavior of technology acceptance for the family business. A quantitative survey method (n=275) used to collect data Chinese family business owners' in Shanghai. The inferential statistical analysis was applied to extract trait factors, and verification of the model, respectively. The research results found that using social media for family business promotion has highly influenced by cultural values (collectivism and long-term orientation). The theoretical contribution of this research may also assist policymakers and practitioners of other developing countries to advertise and promote the family business through social media.

Keywords: China, cultural dimensions, family business, technology acceptance model, TAM

Procedia PDF Downloads 117
7073 Concept, Modules and Objectives of the Syllabus Course: Small Power Plants and Renewable Energy Sources

Authors: Rade M. Ciric, Nikola L. J. Rajakovic

Abstract:

This paper presents a curriculum of the subject small power plants and renewable energy sources, dealing with the concept of distributed generation, renewable energy sources, hydropower, wind farms, geothermal power plants, cogeneration plants, biogas plants of agriculture and animal origin, solar power and fuel cells. The course is taught the manner of connecting small power plants to the grid, the impact of small generators on the distribution system, as well as economic, environmental and legal aspects of operation of distributed generators.

Keywords: distributed generation, renewable energy sources, energy policy, curriculum

Procedia PDF Downloads 326
7072 The Impact of Information and Communication Technology on the Re-Engineering Process of Small and Medium Enterprises

Authors: Hiba Mezaache

Abstract:

The current study aimed to know the impact of using information and communication technology on the process of re-engineering small and medium enterprises, as the world witnessed the speed development of the latter in its field of work and the diversity of its objectives and programs, that also made its process important for the growth and development of the institution and also gaining the flexibility to face the changes that may occur in the environment of work, so in order to know the impact of information and communication technology on the success of this process, we prepared an electronic questionnaire that included (70) items, and we also used the SPSS statistical calendar to analyze the data obtained. In the end of our study, our conclusion was that there was a positive correlation between the four dimensions of information and communication technology, i.e., hardware and equipment, software, communication networks, databases, and the re-engineering process, in addition to the fact that the studied institutions attach great importance to formal communication, for its positive advantages that it achieves in reducing time and effort and costs in performing the business. We could also say that communication technology contributes to the process of formulating objectives related to the re-engineering strategy. Finally, we recommend the necessity of empowering workers to use information technology and communication more in enterprises, and to integrate them more into the activity of the enterprise by involving them in the decision-making process, and also to keep pace with the development in the field of software, hardware, and technological equipment.

Keywords: information and communication technology, re-engineering, small and medium enterprises, the impact

Procedia PDF Downloads 139
7071 Project-Bbased Learning (PBL) Taken to Extremes: Full-Year/Full-Time PBL Replacement of Core Curriculum

Authors: Stephen Grant Atkins

Abstract:

Radical use of project-based learning (PBL) in a small New Zealand business school provides an opportunity to longitudinally examine its effects over a decade of pre-Covid data. Prior to this business school’s implementation of PBL, starting in 2012, the business pedagogy literature presented just one example of PBL replacing an entire core-set of courses. In that instance, a British business school merged four of its ‘degree Year 3’ accounting courses into one PBL semester. As radical as that would have seemed, to students aged 20-to-22, the PBL experiment conducted in a New Zealand business school was notably more extreme: 41 nationally-approved Learning Outcomes (L.O.s), these deriving from 8 separate core courses, were aggregated into one grand set of L.O.s, and then treated as a ‘full-year’/‘full-time’ single course. The 8 courses in question were all components of this business school’s compulsory ‘degree Year 1’ curriculum. Thus, the students involved were notably younger (…ages 17-to-19…), and no ‘part-time’ enrolments were allowed. Of interest are this PBL experiment’s effects on subsequent performance outcomes in ‘degree Years 2 & 3’ (….which continued to operate in their traditional ways). Of special interest is the quality of ‘group project’ outcomes. This is because traditionally, ‘degree Year 1’ course assessments are only minimally based on group work. This PBL experiment altered that practice radically, such that PBL ‘degree Year 1’ alumni entered their remaining two years of business coursework with far more ‘project group’ experience. Timeline-wise, thus of interest here, firstly, is ‘degree Year 2’ performance outcomes data from years 2010-2012 + 2016-2018, and likewise ‘degree Year 3’ data for years 2011-2013 + 2017-2019. Those years provide a pre-&-post comparative baseline for performance outcomes in students never exposed to this school’s radical PBL experiment. That baseline is then compared to PBL alumni outcomes (2013-2016….including’Student Evaluation of Course Quality’ outcomes…) to clarify ‘radical PBL’ effects.

Keywords: project-based learning, longitudinal mixed-methods, students criticism, effects-on-learning

Procedia PDF Downloads 69
7070 Increasing Business Competitiveness in Georgia in Terms of Globalization

Authors: Badri Gechbaia, Levan Gvarishvili

Abstract:

Despite the fact that a lot of Georgian scientists have worked on the issue of the business competitiveness, it think that it is necessary to deepen the works in this sphere, it is necessary also to perfect the methodology in the estimation of the business competitiveness, we have to display the main factors which define the competitive advantages in the business sphere, we have also to establish the interconnections between the business competitiveness level and the quality of states economical involvement in the international economic processes, we have to define the ways to rise the business competitiveness and its role in the upgrading of countries economic development. The introduction part justifies the actuality of the studied topic and the thesis; It defines the survey subject, the object, and the goals with relevant objectives; theoretical-methodological and informational-statistical base for the survey; what is new in the survey and what the value for its theoretical and practical application is. The aforementioned study is an effort to raise public awareness on this issue. Analysis of the fundamental conditions for the efficient functioning of business in Georgia, identification of reserves for increasing its efficiency based on the assessment of the strengths and weaknesses of the business sector. Methods of system analysis, abstract-logic, induction and deduction, synthesis and generalization, and positive, normative, and comparative analysis are used in the research process. Specific regularities of the impact of the globalization process on the determinants of business competitiveness are established. The reasons for business competitiveness in Georgia have been identified

Keywords: competitiveness, methodology, georgian, economic

Procedia PDF Downloads 81
7069 A Study on Establishing Criteria for Installation of Small Road Signs

Authors: Sang-KeunBaik, Kyu-Soo Chong, Joon-Yeop Na

Abstract:

This study attempts to reduce the wind load of road signs, improve roadside landscaping, and enhance the safety of road users by establishing criteria for the installation of small road signs. First, we derive the minimum font size that can be used on road signs according to the road’s design speed by considering the visibility and legibility of such road signs. We classify road junctions into eight types based on junction type (intersection, interchange, and expressway) and on the number of road lanes. Furthermore, we propose small sign alternatives, to which the minimum font size is applied, to be placed by each road junction. To verify the effects of the small signs, we implemented a 3D simulation road environment, to which the small road signs were applied, and performed experiments using the driving simulator targeting 50 drivers. The experiments compared and analyzed the effects, whether the driver proceeds to the desired exit and the average driving time, between the existing large road signs and the improved small road signs under the same road conditions and intersection type. We conducted a survey with the participants of the simulation experiment on the preference between graphical signs (large road signs) and exit-centric signs (small road signs). The results show that the participants prefer the exit-centric signs (60%) to the graphical signs (40%). We propose installation criteria for small road signs for intersections, interchanges, and expressways based on the results of the experiment and the survey.

Keywords: 3D simulation, driving simulator, legibility distance, minimum font size, small road signs

Procedia PDF Downloads 451
7068 Quality Business Ethics: A Case Study

Authors: Fotis Vouzas

Abstract:

This paper is an attempt to investigate the Business Ethics link to Quality Management. Business Ethics as a management practice is well rooted in many organizations, but its contribution to quality management implementation programs and practices is not well documented. The ISO 9000 and the Business Excellence frameworks and Awards seem to provide a basis for the implementation of a TQM philosophy contributing to efficiency, enhanced performance and sustainability. The author examines a series of Corporate Ethics initiatives and investigates the relationship to Total Quality Management in an MNC operating in Greece. The data gathering was carried out through extensive and in-depth interviews with several multiple informants, i.e., the plant manager, the production manager, and the personnel manager, using a semi-structured questionnaire with open-ended questions.

Keywords: total quality management, business ethics, Greece, ISO 9000

Procedia PDF Downloads 36
7067 Determination of Small Shear Modulus of Clayey Sand Using Bender Element Test

Authors: R. Sadeghzadegan, S. A. Naeini, A. Mirzaii

Abstract:

In this article, the results of a series of carefully conducted laboratory test program were represented to determine the small strain shear modulus of sand mixed with a range of kaolinite including zero to 30%. This was experimentally achieved using a triaxial cell equipped with bender element. Results indicate that small shear modulus tends to increase, while clay content decreases and effective confining pressure increases. The exponent of stress in the power model regression analysis was not sensitive to the amount of clay content for all sand clay mixtures, while coefficient A was directly affected by change in clay content.

Keywords: small shear modulus, bender element test, plastic fines, sand

Procedia PDF Downloads 439
7066 Cryptocurrencies: Business Students’ Awareness and Universities’ Adoption Readiness and Compatibility of Use Considering the Mediation of Attitudes

Authors: Eric S. Parilla, Marc Edward Abadilla

Abstract:

The study aims to determine the effect of awareness of business students towards cryptocurrencies and the readiness of universities and colleges to accept cryptocurrencies as a medium of exchange, considering the mediation of business students’ attitudes. The research used partial least squares structural equation modeling (PLS-SEM) and deployed a questionnaire attuned to the awareness and attitudes of business students towards cryptocurrencies and readiness and compatibility of use in universities and colleges in Ilocos Norte. The output of the investigation revealed that awareness of business students is not correlated to the readiness of universities and colleges, which means that even though students understand cryptocurrencies, it is not an assurance that universities and colleges are ready to accept them as the medium of exchange. The study proposes that training and seminars for business students and professionals should be conducted to expand understanding and acceptance of cryptocurrencies.

Keywords: cryptocurrencies, awareness, readiness, attitudes

Procedia PDF Downloads 179
7065 An Exploratory Study on Business Leadership, Workplace Assessment, and Change Management in the Middle East and North Africa

Authors: C. Akhras

Abstract:

Change is the life blood of business. Dynamic factors inspire change yet may act as barriers, influencing the company’s position in the market and challenging its organizational mission and culture. Today, the business context has globalized with business enterprises in the North and South joint in mergers and the East forges a strategic alliance with the West. Moreover, given that very little remains stable in certain industries, national business goals in the millennial marketplaces might be rapid, accelerated, and differentiated growth while distinctive competitive advantage might mark new qualitative excellence in others. In a new age culture marked by change, organizations, leaders, and followers are impacted; indigenous business leaders seem to have a very important role to play in change management. This case study was carried out on 178 business employees employed in local industry to evaluate perceptions of indigenous business leadership, workplace assessment, and organizational change management in the Middle East and North Africa. Three research questions were posed: (1) In your work context, do you think business leaders are essentially changing agents? (2) In your work context, is workplace change more effective in business leaders perceived as a hierarchical change agent rather than those perceived as an empowering change agent? (3) In your work context, is workplace change more efficient in business leaders perceived as a hierarchical change agent rather than those perceived as an empowering change agent? The results of the study and its limitations imposed by time and space indicate that more comprehensive research is required in this area.

Keywords: catalyst, change management, business enterprise, workplace assessment

Procedia PDF Downloads 263
7064 The Use of Computer-Aided Design in Small Contractors in a Local Area of Korea

Authors: Myunghoun Jang

Abstract:

A survey of small-size contractors in Jeju was conducted to investigate college graduate's computer-aided design (CAD) competence. Most of small-size contractors use CAD software to review and update drawings submitted from an architect. This research analyzed the curriculum of the architectural engineering in several national universities. The CAD classes have 4 or 6 hours per week and use AutoCAD primarily. This paper proposes that a CAD class needs 6 hours per week, 2D drawing is the main theme in the curriculum, and exercises to make 3D models are also included in the CAD class. An improved method, for example Internet cafe and real time feedbacks using smartphones, to evaluate the reports and exercise results is necessary.

Keywords: CAD (Computer Aided Design), CAD education, education improvement, small-size contractor

Procedia PDF Downloads 240
7063 Transform to Succeed: An Empirical Analysis of Digital Transformation in Firms

Authors: Sarah E. Stief, Anne Theresa Eidhoff, Markus Voeth

Abstract:

Despite all progress firms are facing the increasing need to adapt and assimilate digital technologies to transform their business activities in order to pursue business development. By using new digital technologies, firms can implement major business improvements in order to stay competitive and foster new growth potentials. The corresponding phenomenon of digital transformation has received some attention in previous literature in respect to industries such as media and publishing. Nevertheless, there is a lack of understanding of the concept and its organization within firms. With the help of twenty-three in-depth field interviews with German experts responsible for their company’s digital transformation, we examined what digital transformation encompasses, how it is organized and which opportunities and challenges arise within firms. Our results indicate that digital transformation is an inevitable task for all firms, as it bears the potential to comprehensively optimize and reshape established business activities and can thus be seen as a strategy of business development.

Keywords: business development, digitalization, digital strategies, digital transformation

Procedia PDF Downloads 383
7062 Abusing Business Rescue Proceedings by a Director and Its Impact on the Ethics of Good Corporate Governance

Authors: Simphiwe Phungula

Abstract:

In the past few years, the impact of Covid 19 in South Africa has given rise to the need for business rescue proceedings where businesses are financially distressed. Even more, the looting unrest and floods in certain parts of South Africa have also played an impact on businesses’ financial stress. To help financially distressed companies in South Africa, the Companies Act (“the Act”) has introduced a business rescue procedure aimed at helping those ailing companies. This mechanism is aimed at rehabilitating financially distressed companies so that they become solvent again and if it is not possible, results in a better return for the company’s creditors or shareholders than would result from the immediate liquidation of the company. Unfortunately, since the introduction of business rescue, evidence has shown that sometimes companies resort to business rescue proceedings to seek refuge from creditors even if the facts do not justify that the company should commence business rescue. In most cases, the abuse of business rescue is done by directors who pass a resolution that the company should embark on business rescue even if evidence shows that the company should not commence the proceedings. This is done notwithstanding the principles of King Code IV which requires ethics and good governance on the part of directors. This paper demonstrates how the abuse of business rescue can impact the principles of good governance and ethics of King Code IV. It argues that directors should rethink their corporate practices, and ethical standards when passing a resolution to commence business rescue proceedings.

Keywords: business rescue, king code, corporate governance, ethics

Procedia PDF Downloads 68
7061 Functional to Business Process Orientation in Business Schools

Authors: Sunitha Thappa

Abstract:

Business environment is a set of complex interdependent dimensions that corporates have to always be vigil in identifying the influential waves. Over the year business environment has evolved into a basket of uncertainties. Every organization strives to counter this dynamic nature of business environment by recurrently evaluating the primary and support activities of its value chain. This has led to companies redesigning their business models, reinvent business processes and operating procedure on unremitting basis. A few specific issues that are placed before the present day managers are breaking down the functional interpretation of any challenge that organizations confronts, reduction in organizational hierarchy and tackling the components of the value chain to retain their competitive advantage. It is how effectively managers detect the changes and swiftly reorient themselves to these changes that define their success or failure. Given the complexity of decision making in this dynamic environment, two important question placed before the B-schools of today. Firstly, are they grooming and nurturing managerial talent proficient enough to thrive in this multifaceted business environment? Secondly, are the management graduates walking through their portals, able to view challenges from a cross-functional perspective with emphasis to customer and process rather than hierarchy and functions. This paper focuses on the need for a process oriented approach to management education.

Keywords: management education, pedagogy, functional, process

Procedia PDF Downloads 301
7060 The Effect of Microfinance on Labor Productivity of SME - The Case of Iran

Authors: Sayyed Abdolmajid Jalaee Esfand Abadi, Sepideh Samimi

Abstract:

Since one of the major difficulties to develop small manufacturing enterpriser in developing countries is the limitations of financing activities, this paper want to answer the question: “what is the role and status of micro finance in improving the labor productivity of small industries in Iran?” The results of panel data estimation show that micro finance in Iran has not yet been able to work efficiently and provide the required credit and investment. Also, reducing economy’s dependence on oil revenues reduced and increasing its reliance on domestic production and exports of industrial production can increase the productivity of workforce in Iranian small industries.

Keywords: microfinance, small manufacturing enterprises (SME), workforce productivity, Iran, panel data

Procedia PDF Downloads 390
7059 Gender Considerations and Entrepreneurship Development in Nigeria

Authors: Tirimisiyu Olaide Gbadamosi

Abstract:

Individuals go into business for the sake of obtaining regular income, becoming self-employed. Although, there different kinds of business enterprises that female and male can go into, often times, some businesses are regarded more suitable for a particular sex and not the other. This means that there is some gender discrimination in the choice of business one goes into and by extension in entrepreneurship development. Apparently, gender attitudes and behaviors will have positive or negative effects on entrepreneurship development in a society or economy. This research work therefore intends to take a critical look at gender discrimination as they affect entrepreneurship development with particular reference to northern Nigeria in general, using Exceptional Production Services Limited Kaduna, Kaduna North Local Government area as a case study, and also to suggest the possible solution to unidentified problems and give recommendation where necessary. Statement of research problem: Entrepreneurship has generally been recognised as a good medium or strategy for economic development of an individual, a community and a nation. It is also a known a known fact that some gender discrimination are often used in the choice of business or even the decision to go into business. For example, some businesses are regarded as more suitable to men than women. The question here is, is this the right approach to economic development through entrepreneurship? Of what effect is this approach to entrepreneurship development? These and the other questions are what this research intends to find answers to and if possible make recommendations. Significance of the study: The findings of this study will provide a guide for anyone for the establishment of a business in Nigeria. The study will help any prospective entrepreneur to make the right decision of which business to go into and how to contend with gender related issues that might influence its success in business. Furthermore, it is hoped that the study will assist the government and her agencies in the process in developing entrepreneurship development programs. Conclusion: There has been growing recognition that various types of discrimination do not always affect women and men in the same way. Moreover, gender discrimination may be intensified and facilitated by all other forms of discrimination. It has been increasingly recognized that without gender analysis of all forms of discrimination in business, including multiple forms of discrimination, and, in particular, in this context, related intolerance, violations of the human rights of women might escape detection and remedies to address racism may also fail to meet the needs of women and girls. It is also important that efforts to address gender discrimination incorporate approaches to the elimination of all forms of discrimination. Recommendation: Campaigning and raising awareness among young men and women, parents, teachers and employers about gender stereotypical attitudes towards academic performances and the likely consequences of overall educational choices for employment and entrepreneurship opportunities, career progression and earnings.

Keywords: entrepreneurship, economic development, small medium enterprises, gender discrimination

Procedia PDF Downloads 340
7058 Cooperative Diversity Scheme Based on MIMO-OFDM in Small Cell Network

Authors: Dong-Hyun Ha, Young-Min Ko, Chang-Bin Ha, Hyoung-Kyu Song

Abstract:

In Heterogeneous network (HetNet) can provide high quality of a service in a wireless communication system by composition of small cell networks. The composition of small cell networks improves cell coverage and capacity to the mobile users.Recently, various techniques using small cell networks have been researched in the wireless communication system. In this paper, the cooperative scheme obtaining high reliability is proposed in the small cell networks. The proposed scheme suggests a cooperative small cell system and the new signal transmission technique in the proposed system model. The new signal transmission technique applies a cyclic delay diversity (CDD) scheme based on the multiple input multiple output-orthogonal frequency division multiplexing (MIMO-OFDM) system to obtain improved performance. The improved performance of the proposed scheme is confirmed by the simulation results.

Keywords: adaptive transmission, cooperative communication, diversity gain, OFDM

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7057 Virtual Co-Creation Model in Hijab Fashion Industry: Business Model Approach

Authors: Lisandy A. Suryana, Lidia Mayangsari, Santi Novani

Abstract:

Creative industry in Indonesia become an important aspect of the economy. One of the sectors of creative industry which give the highest contribution toward Indonesia’s GDP is fashion sector. In line with the target of Indonesia in 2020 to be the qibla’ of moeslem fashion of the world, all of the stakeholders of the business ecosystem should collaborate. Rather than focus on the internal aspects of producer, external aspects such as customers, government, community, etc. become important to be involved in the ecosystem to support the development and sustainability of those fashion sector. Unfortunately, although Indonesia has the biggest moeslem population, the number of hijab business penetration only 10%. Therefore, this research aims to analyze and develop the virtual co-creation platform for hijab creative industry as the strategy to achieve sustainability and increase the market share. This preliminary research describes the main stakeholders in the hijab creative industry based on business model approach. This business model is adapted by considering the service science context, and the data is collected by using the qualitative approach especially in-depth interview. This business model shows the relationship between resource integration, value co-creation, the value proposition of the company, and also the financial aspect of the business.

Keywords: value co-creation, Hijab Fashion Industry, creative industry, service business model, business model canvas

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7056 Managing Business Processes in the Age of Digital Transformation: A Literature Review

Authors: Ana-Marija Stjepić, Dalia Suša Vugec

Abstract:

Today, digital transformation is one of the leading topics that occupy the attention of scientific circles and business experts. Organizational success is most often reflected through the successful managing of business processes. Given the growing market for digital innovations and its ever-increasing impact on business, organizations need to be prepared for organizational changes that come with the digital era. In order to maintain their competitive advantage in the global market, organizations must adapt their processes to new digitalization conditions. The main goal of this study is to point out the link between the digital transformation and the business process management concept. Therefore, in order to contribute to the scientific field that explores the potential relation between business process management concept and digital transformation, a literature review has been conducted. Papers have been searched within the Business Process Management Journal by keywords related to the term digital transformation. Selected papers have been analyzed according to the topic, type of publication, year of publication, keywords, etc. The results reveal a growing number of papers published on the topic of digital transformation to the Business Process Management Journal, but the lack of case studies. This paper contributes to the extension of academic literature in this important, yet insufficiently researched, scientific field that creates the bond between two strong concepts of digital transformation and business process management.

Keywords: business process management, digital transformation, digitalization, process change

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7055 A Research on the Improvement of Small and Medium-Sized City in Early-Modern China (1895-1927): Taking Southern Jiangsu as an Example

Authors: Xiaoqiang Fu, Baihao Li

Abstract:

In 1895, the failure of Sino-Japanese prompted the trend of comprehensive and systematic study of western pattern in China. In urban planning and construction, urban reform movement sprang up slowly, which aimed at renovating and reconstructing the traditional cities into modern cities similar to the concessions. During the movement, Chinese traditional city initiated a process of modern urban planning for its modernization. Meanwhile, the traditional planning morphology and system started to disintegrate, on the contrary, western form and technology had become the paradigm. Therefore, the improvement of existing cities had become the prototype of urban planning of early modern China. Currently, researches of the movement mainly concentrate on large cities, concessions, railway hub cities and some special cities resembling those. However, the systematic research about the large number of traditional small and medium-sized cities is still blank, up to now. This paper takes the improvement constructions of small and medium-sized cities in Southern region of Jiangsu Province as the research object. First of all, the criteria of small and medium-sized cities are based on the administrative levels of general office and cities at the county level. Secondly, the suitability of taking the Southern Jiangsu as the research object. The southern area of Jiangsu province called Southern Jiangsu for short, was the most economically developed region in Jiangsu, and also one of the most economically developed and the highest urbanization regions in China. As the most developed agricultural areas in ancient China, Southern Jiangsu formed a large number of traditional small and medium-sized cities. In early modern times, with the help of the Shanghai economic radiation, geographical advantage and powerful economic foundation, Southern Jiangsu became an important birthplace of Chinese national industry. Furthermore, the strong business atmosphere promoted the widespread urban improvement practices, which were incomparable of other regions. Meanwhile, the demonstration of Shanghai, Zhenjiang, Suzhou and other port cities became the improvement pattern of small and medium-sized city in Southern Jiangsu. This paper analyzes the reform movement of the small and medium-sized cities in Southern Jiangsu (1895-1927), including the subjects, objects, laws, technologies and the influence factors of politic and society, etc. At last, this paper reveals the formation mechanism and characteristics of urban improvement movement in early modern China. According to the paper, the improvement of small-medium city was a kind of gestation of the local city planning culture in early modern China,with a fusion of introduction and endophytism.

Keywords: early modern China, improvement of small-medium city, southern region of Jiangsu province, urban planning history of China

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