Search results for: Economic indicators

Authors: S. Anastasiou, C. Nathanailides, P. Logothetis, G. Kanlis

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The purpose of the present work is to review some data for the management challenges that the aquaculture industry in Greece is currently facing. The results indicate that Greek aquaculture fish farms apply Human Resources Management (HRM) practices which can increase motivation, commitment and job satisfaction of their personnel. In turn, these practices can increase the productivity of the business. The Greek fish farms appear to invest in research and technological innovation with a good record in research activities and the generation of patents. Interestingly, the results of the present work were carried out during the period of the recent economic crisis in Greece. Several sectors of the Greek economy were severely affected by the financial problems of the Greek government and the Greek banks. Under the adverse economical conditions created by the Greek economic crisis, even the Greek aquaculture industry, which historically is considered as a thriving national exporting business sector, experienced harsh economic and market conditions. As a result of the global, European and national economic crisis, consumption of fish dropped while companies had to hold most of their stocked fish in order to regulated the flow to the market and the price. This occurred at a time where Banks in Greece had their own financial crisis – banking crisis - which resulted in limited access to lending for the all business sectors of the national economy including the Greek aquaculture industry. In spite of these economic conditions, the Greek aquaculture industry, after a series of mergers and acquisitions, has now stabilized production and exhibits very good prospects for future growth. Evidently, the firms had to cut salaries and on some occasions even pay their staff in arrears. Nevertheless, the results presented in this paper indicate that during the economic crisis, the surveyed fish farms maintained their HRM practices, investing in their human capital and technological input. In fact, human capital and technological input are the ticket for future success of companies in any business sector.

Keywords: Aquaculture, Human Resources Management.

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Authors: R. Pastusiak, M. Jasiniak, A. Kaźmierska

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The impact of Special Economic Zones (SEZs) has been analyzed for many years by researchers. There are lot of theoretical studies proving the SEZs importance for regional development, however, there is lack of empirical studies (and they are mainly focused on China market) that are based on available data. The theoretical studies indicate the various impacts of enterprises operating within SEZs on the economy. The article proves that, in case of Poland, locating SEZs in municipalities is an important part of increasing municipalities’ income. Therefore SEZs have a positive impact on regional development. Municipality income is understood as taxes paid by taxpayers who depend on SEZ companies’ performance. The analysis includes the Corporate Income Tax (CIT), Personal Income Tax (PIT) and real estate tax. The effects of SEZs on regional development were narrowed to a few variables that are most significant for the financial system. The analysis indicates the significant impact of SEZs on the amount of taxes influencing the municipality budget.

Keywords: Government, local finance, municipal finance, Special Economic Zones.

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Authors: Drago Jakovcevic, Mihovil Andelinovic, Igor Husak

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The aim of this paper is to explore the economic circumstances in which the selective credit policy, the least used instrument of four types of instruments on disposal to central banks, should be used. The most significant example includes the use of selective credit policies in response to the emergence of the global financial crisis by the FED. Specifics of the potential use of selective credit policies as the instigator of economic growth in Croatia, a small open economy, are determined by high euroization of financial system, fixed exchange rate and long-term trend growth of external debt that is related to the need to maintain high levels of foreign reserves. In such conditions, the classic forms of selective credit policies are unsuitable for the introduction. Several alternative approaches to implement selective credit policies are examined in this paper. Also, thorough analysis of distribution of selective monetary policy loans among economic sectors in Croatia is conducted in order to minimize the risk of investing funds and maximize the return, in order to influence the GDP growth.

Keywords: Global crisis, Selective credit policy, Small open economy.

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Authors: Frantisek Bozek, Pavel Budinsky, Ignac Hoza, Alexandr Bozek, Magdalena Naplavova

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A cleaner production project was implemented in a bakery. The project is based on the substitution of the best available technique for an obsolete leaven production technology. The new technology enables production of durable, high-quality leavens. Moreover, 25% of flour as the original raw material can be replaced by pastry from the previous day production which has not been sold. That pastry was previously disposed in a waste incineration plant. Besides the environmental benefits resulting from less waste, lower consumption of energy, reduction of sewage waters quantity and floury dustiness there are also significant economic benefits. Payback period of investment was calculated with help of static method of financial analysis about 2.6 years, using dynamic method 3.5 years and an internal rate of return more than 29%. The supposed annual average profit after taxationin the second year of operation was incompliance with the real profit.

Keywords: Bakery, best available technology, cleaner production, costs, economic benefit, efficiency, energy, environmental benefit, investment, savings.

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Authors: Ghaffari, H., Changi Ashtiani, A., Younessi, A.

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There are three distinct stages in the evolution of economic thought, namely: 1. in the first stage, the major concern was to accelerate economic growth with increased availability of material goods, especially in developing economies with very low living standards, because poverty eradication meant faster economic growth. 2. in the second stage, economists made distinction between growth and development. Development was seen as going beyond economic growth, and bringing certain changes in the structure of the economy with more equitable distribution of the benefits of growth, with the growth coming automatic and sustained. 3. the third stage is now reached. Our concern is now with “sustainable development", that is, development not only for the present but also of the future. Thus the focus changed from “sustained growth" to “sustained development". Sustained development brings to the fore the long term relationship between the ecology and economic development. Since the creation of UNEP in 1972 it has worked for development without destruction for environmentally sound and sustained development. It was realised that the environment cannot be viewed in a vaccum, it is not separate from development, nor is it competing. It suggested for the integration of the environment with development whereby ecological factors enter development planning, socio-economic policies, cost-benefit analysis, trade, technology transfer, waste management, educational and other specific areas. Industrialisation has contributed to the growth of economy of several countries. It has improved the standards of living of its people and provided benefits to the society. It has also created in the process great environmental problems like climate change, forest destruction and denudation, soil erosion and desertification etc. On the other hand, industry has provided jobs and improved the prospects of wealth for the industrialists. The working class communities had to simply put up with the high levels of pollution in order to keep up their jobs and also to save their income. There are many roots of the environmental problem. They may be political, economic, cultural and technological conditions of the modern society. The experts concede that industrial growth lies somewhere close to the heart of the matter. Therefore, the objective of this paper is not to document all roots of an environmental crisis but rather to discuss the effects of industrial growth and development. We have come to the conclusion that although public intervention is often unnecessary to ensure that perfectly competitive markets will function in society-s best interests, such intervention is necessary when firms or consumers pollute.

Keywords: Development, Environment, Industrial Development, Iran, Occupational problems, Pollution.

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Authors: N. Phanthuna V. Phupha N. Rugthaicharoencheep, S. Lerdwanittip

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This paper presents an optimization technique to economic load dispatch (ELD) problems with considering the daily load patterns and generator constraints using a particle swarm optimization (PSO). The objective is to minimize the fuel cost. The optimization problem is subject to system constraints consisting of power balance and generation output of each units. The application of a constriction factor into PSO is a useful strategy to ensure convergence of the particle swarm algorithm. The proposed method is able to determine, the output power generation for all of the power generation units, so that the total constraint cost function is minimized. The performance of the developed methodology is demonstrated by case studies in test system of fifteen-generation units. The results show that the proposed algorithm scan give the minimum total cost of generation while satisfying all the constraints and benefiting greatly from saving in power loss reduction

Keywords: Particle Swarm Optimization, Economic Load Dispatch, Generator Constraints.

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Authors: Basant H. El-Refay, Nabeel T. Faiad

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Background: The high prevalence of obesity in Egypt has a great impact on the health care system, economic and social situation. Evidence suggests that even a moderate amount of weight loss can be useful. Aim of the study: To analyze the effects of lower body positive pressure supported treadmill training, conducted with hypocaloric diet, on body composition of obese children. Methods: Thirty children aged between 8 and 14 years, were randomly assigned into two groups: intervention group (15 children) and control group (15 children). All of them were evaluated using body composition analysis through bioelectric impedance. The following parameters were measured before and after the intervention: body mass, body fat mass, muscle mass, body mass index (BMI), percentage of body fat and basal metabolic rate (BMR). The study group exercised with antigravity treadmill three times a week during 2 months, and participated in a hypocaloric diet program. The control group participated in a hypocaloric diet program only. Results: Both groups showed significant reduction in body mass, body fat mass and BMI. Only study group showed significant reduction in percentage of body fat (p = 0.0.043). Changes in muscle mass and BMR didn't reach statistical significance in both groups. No significant differences were observed between groups except for muscle mass (p = 0.049) and BMR (p = 0.042) favoring study group. Conclusion: Both programs proved effective in the reduction of obesity indicators, but lower body positive pressure supported treadmill training was more effective in improving muscle mass and BMR.

Keywords: Children, Hypocaloric diet, Lower body positive pressure supported treadmill, obesity.

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Authors: Manat Srivanit, Hokao Kazunori

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Facing the concern of the population to its environment and to climatic change, city planners are now considering the urban climate in their choices of planning. The urban climate, representing different urban morphologies across central Bangkok metropolitan area (BMA), are used to investigates the effects of both the composition and configuration of variables of urban morphology indicators on the summer diurnal range of urban climate, using correlation analyses and multiple linear regressions. Results show first indicate that approximately 92.6% of the variation in the average maximum daytime near-surface air temperature (Ta) was explained jointly by the two composition variables of urban morphology indicators including open space ratio (OSR) and floor area ratio (FAR). It has been possible to determine the membership of sample areas to the local climate zones (LCZs) using these urban morphology descriptors automatically computed with GIS and remote sensed data. Finally result found the temperature differences among zones of large separation, such as the city center could be respectively from 35.48±1.04ºC (Mean±S.D.) warmer than the outskirt of Bangkok on average for maximum daytime near surface temperature to 28.27±0.21ºC for extreme event and, can exceed as 8ºC. A spatially disaggregation of urban thermal responsiveness map would be helpful for several reasons. First, it would localize urban areas concerned by different climate behavior over summer daytime and be a good indicator of urban climate variability. Second, when overlaid with a land cover map, this map may contribute to identify possible urban management strategies to reduce heat wave effects in BMA.

Keywords: Urban climate, Urban morphology, Local climate zone, Urban planning, GIS and remote sensing

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Authors: R. Tur, A. Yardımcı

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Imperfect knowledge cannot be avoided all the time. Imperfections may have several forms; uncertainties, imprecision and incompleteness. When we look to classification of methods for the management of imperfect knowledge we see fuzzy set-based techniques. The choice of a method to process data is linked to the choice of knowledge representation, which can be numerical, symbolic, logical or semantic and it depends on the nature of the problem to be solved for example decision support, which will be mentioned in our study. Fuzzy Logic is used for its ability to manage imprecise knowledge, but it can take advantage of the ability of neural networks to learn coefficients or functions. Such an association of methods is typical of so-called soft computing. In this study a new method was used for the management of imprecision for collected knowledge which related to economic analysis of construction industry in Turkey. Because of sudden changes occurring in economic factors decrease competition strength of construction companies. The better evaluation of these changes in economical factors in view of construction industry will made positive influence on company-s decisions which are dealing construction.

Keywords: Fuzzy logic, decision support systems, construction industry.

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Authors: Eric K. W. Aikins

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Traditionally, Ghana is a marine fishing country. The fishing industry dominated by artisanal marine fishing helps Ghana to meet its fish and protein requirements. Also, it provides employment for most coastal dwellers that depend on fishing as their main economic enterprise. Nonetheless, the marine fishing industry is confronted with challenges that have contributed to a declining fish production in recent past decade. Bad fishing practices and the general limited knowledge on sustainable management of fisheries resources are the limiting factors that affect sustainable fish production and sustainable marine biodiversity management in Ghana. This paper discusses the challenges and strategies for attaining and maintaining sustainable marine fishing in Ghana as well as the state of marine fishing in Ghana. It concludes that an increase in the level of involvement of local fishers in the management of fisheries resources of the country could help local fishers to employ sustainable fisheries resources exploitation methods that could result in an improvement in the spatio-economic development and wellbeing of affected fishing communities in particular and Ghana in general.

Keywords: Pair trawling, sargassum, spatio-economic development, sustainable marine fishing.

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Authors: Mohanad Hammad

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Port institutions serve as a link connecting the land areas that receive the goods and the areas from where ships sail. These areas hold great significance for the conversion of goods into commodities of economic value, capable of meeting the needs of the society. Development of ports constitutes a fundamental component of the comprehensive economic development process. Recognizing this fact, developing countries have always resorted to this infrastructural element to resolve the numerous problems they face, taking into account its contribution to the reformation of their economic conditions. Iraqi ports have played a major role in boosting the commercial movement in Iraq, as they are the starting point of its oil exports and a key constituent in fulfilling the consumer and production needs of the various economic sectors of Iraq. With the Gulf wars and the economic blockade, Iraqi ports have continued to deteriorate and become unable to perform their functions as first-generation ports, prompting Iraq to use the ports of neighboring countries such as Jordan's Aqaba commercial port. Meanwhile, Iraqi ports face strong competition from the ports of neighboring countries, which have achieved progress and advancement as opposed to the declining performance and efficiency of Iraqi ports. The great developments in the economic conditions of Iraq lay a too great burden on the Iraqi maritime transport and ports, which require development in order to be able to meet the challenges arising from the fierce international and regional competition in the markets. Therefore, it is necessary to find appropriate solutions in support of the role that can be played by Iraqi ports in serving Iraq's foreign trade transported by sea and in keeping up with the development of foreign trade. Thus, this research aims at tackling the current situation of the Iraqi ports and their commercial activity and studying the problems and obstacles they face. The research also studies the future prospects of these ports, the potentials of maritime openness to Iraq under the fierce competition of neighboring ports, and the possibility of enhancing Iraqi ports’ competitiveness. Among the results produced by this research is the future scenario it proposes for Iraqi ports, mainly represented in the establishment of Al-Faw Port, which will contribute to a greater openness of maritime transport in Iraq, and the rehabilitation and expansion of existing ports. This research seeks to develop solutions to Iraq ports so that they can be repositioned as a vital means of promoting economic development.

Keywords: Transport, port, regional openness, development.

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Authors: K. Shimola, M. Krishnaveni

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This paper examines vulnerability assessment of water resources in a semi-arid basin using the 4-step approach. The vulnerability assessment framework is developed to study the water resources vulnerability which includes the creation of GIS-based vulnerability maps. These maps represent the spatial variability of the vulnerability index. This paper introduces the 4-step approach to assess vulnerability that incorporates a new set of indicators. The approach is demonstrated using a framework composed of a precipitation data for (1975–2010) period, temperature data for (1965–2010) period, hydrological model outputs and the water resources GIS data base. The vulnerability assessment is a function of three components such as exposure, sensitivity and adaptive capacity. The current water resources vulnerability is assessed using GIS based spatio-temporal information. Rainfall Coefficient of Variation, monsoon onset and end date, rainy days, seasonality indices, temperature are selected for the criterion ‘exposure’. Water yield, ground water recharge, evapotranspiration (ET) are selected for the criterion ‘sensitivity’. Type of irrigation and storage structures are selected for the criterion ‘Adaptive capacity’. These indicators were mapped and integrated in GIS environment using overlay analysis. The five sub-basins, namely Arjunanadhi, Kousiganadhi, Sindapalli-Uppodai and Vallampatti Odai, fall under medium vulnerability profile, which indicates that the basin is under moderate stress of water resources. The paper also explores prioritization of sub-basinwise adaptation strategies to climate change based on the vulnerability indices.

Keywords: Adaptive capacity, exposure, overlay analysis, sensitivity, vulnerability.

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Authors: Yu-Jen Chang, Yun Chen, Hei-Lam Wong

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The Economic Lot Scheduling Problem (ELSP) is a valuable mathematical model that can support decision-makers to make scheduling decisions. The basic period approach is effective for solving the ELSP. The assumption for applying the basic period approach is that a product must use its maximum production rate to be produced. However, a product can lower its production rate to reduce the average total cost when a facility has extra idle time. The past researches discussed how a product adjusts its production rate under the common cycle approach. To the best of our knowledge, no studies have addressed how a product lowers its production rate under the basic period approach. This research is the first paper to discuss this topic. The research develops a simple fixed rate approach that adjusts the production rate of a product under the basic period approach to solve the ELSP. Our numerical example shows our approach can find a better solution than the traditional basic period approach. Our mathematical model that applies the fixed rate approach under the basic period approach can serve as a reference for other related researches.

Keywords: Economic Lot, Basic Period, Genetic Algorithm, Fixed Rate.

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Authors: Steve Fish, Chris Lambert

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Cumbria is a geo-political county in Northwest England within which the Lake District National Park, a UNESCO World Heritage site is located. Whilst the area has a formidable reputation for natural beauty and historic assets, the innovation ecosystem is described as ‘patchy’ for a number of reasons. The county is one of the largest in England by area and is sparsely populated. This paper describes the needs, development and delivery of an SME business-support programme funded by the European Regional Development Fund, Lancaster University and the University of Cumbria. The Cumbria Innovations Platform (CUSP) Project has been designed to respond to the nuanced needs of SMEs in this locale, whilst promoting the adoption of research and innovation. CUSP utilizes a funnel method to support rural businesses with access to university innovation intervention. CUSP has been built on a three-tier model: Communicate, Collaborate and Create. The paper describes this project in detail and presents results in terms of output indicators achieved, a beneficiary telephone survey and wider economic forecasts. From a pragmatic point-of-view, the paper provides experiences and reflections of those people who are delivering and evaluating knowledge exchange. The authors discuss some of the benefits, challenges and implications for both policy makers and practitioners. Finally, the paper aims to serve as an invitation to others who may consider adopting a similar method of university-industry collaboration in their own region.

Keywords: Regional business support, rural business support, university-industry collaboration, collaborative R&D, SMEs, knowledge exchange.

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Authors: A.R. Yari, M.R. Sadri

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For the first incumbent operator it is very important to understand how to react when the second operator comes to the market. In this paper which is prepared for preliminary study of GSM market in Iran, we have studied five MENA markets according to the similarity point of view. This paper aims at analyzing the impact of second entrants in selected markets on certain marketing key performance indicators (KPI) such as: Market shares (by operator), prepaid share, minutes of use (MoU), Price and average revenue per user (ARPU) (for total market each).

Keywords: GSM Market, Second entrant, MENA.

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Authors: Kehinde Damilola Ilesanmi, Dev Datt Tewari

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South Africa is in its post-industrial era moving from the primary and secondary sector to the tertiary sector. The study investigated the impact of the disaggregated energy consumption (coal, oil, and electricity) on the primary, secondary and tertiary sectors of the economy between 1980 and 2012 in South Africa. Using vector error correction model, it was established that South Africa is an energy dependent economy, and that energy (especially electricity and oil) is a limiting factor of growth. This implies that implementation of energy conservation policies may hamper economic growth. Output growth is significantly outpacing energy supply, which has necessitated load shedding. To meet up the excess energy demand, there is a need to increase the generating capacity which will necessitate increased investment in the electricity sector as well as strategic steps to increase oil production. There is also need to explore more renewable energy sources, in order to meet the growing energy demand without compromising growth and environmental sustainability. Policy makers should also pursue energy efficiency policies especially at sectoral level of the economy.

Keywords: Causality, economic growth, energy consumption, hypothesis, sectoral output.

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Authors: T. Mersmann, P. Nyhuis

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In the current economic climate, for many businesses it is generally no longer sufficient to pursue exclusively economic interests. Instead, integrating ecological and social goals into the corporate targets is becoming ever more important. However, the holistic integration of these new goals is missing from current factory planning approaches. This article describes the conceptual framework for a planning methodology for sustainable factories. To this end, the description of the key areas for action is followed by a description of the principal components for the systematization of sustainability for factories and their stakeholders. Finally, a conceptual framework is presented which integrates the components formulated into an established factory planning procedure.

Keywords: Factory Planning, Stakeholder, Systematization, Sustainability.

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Authors: Andra Costache, Gica Pehoiu

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As in other countries from Central and Eastern Europe, the economic restructuring occurred in the last decade of the twentieth century affected the mining industry in Romania, an oversize and heavily subsidized sector before 1989. After more than a decade since the beginning of mining restructuring, an evaluation of current social implications of the process it is required, together with an efficiency analysis of the adaptation mechanisms developed at governmental level. This article aims to provide an insight into these issues through case studies conducted in the most important coal basin of Romania, Petroşani Depression.

Keywords: case studies, government programs, miningrestructuring, social effects.

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Authors: Alexander Y. Vaninsky

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The objective of this paper is finding the way of economic restructuring - that is, change in the shares of sectoral gross outputs - resulting in the maximum possible increase in the gross domestic product (GDP) combined with decreases in energy consumption and CO₂ emissions. It uses an input-output model for the GDP and factorial models for the energy consumption and CO₂ emissions to determine the projection of the gradient of GDP, and the antigradients of the energy consumption and CO₂ emissions, respectively, on a subspace formed by the structure-related variables. Since the gradient (antigradient) provides a direction of the steepest increase (decrease) of the objective function, and their projections retain this property for the functions' limitation to the subspace, each of the three directional vectors solves a particular problem of optimal structural change. In the next step, a type of factor analysis is applied to find a convex combination of the projected gradient and antigradients having maximal possible positive correlation with each of the three. This convex combination provides the desired direction of the structural change. The national economy of the United States is used as an example of applications.

Keywords: Economic restructuring, Input-Output analysis, Divisia index, Factorial decomposition, E3 models.

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Authors: Carlos F. Liard-Muriente

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The purpose of this paper is to shed light on the controversial subject of tax incentives to promote regional development. Although extensive research has been conducted, a review of the literature gives an inconclusive answer to whether economic incentives are effective. One reason is the fact that for some researchers “effective" means the significant location of new firms in targeted areas, while for others the creation of jobs regardless if new firms are arriving in a significant fashion. We present this dichotomy by analyzing a tax incentive program via both alternatives: location and job creation. The contribution of the paper is to inform policymakers about the potential opportunities and pitfalls when designing incentive strategies. This is particularly relevant, given that both the US and Europe have been promoting incentives as a tool for regional economic development.

Keywords: Employment, Foreign Investment, Tax Incentives.

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Authors: Srinath Ramakkrushnan, Aswathaman Vijayan

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In conventional seedling production, the seedlings are being grown in the open field under natural conditions. Here they are susceptible to sudden changes in climate were their quality and yield is affected. Quality seedlings are essential for good growth and performance of crops in main field; they serve as a foundation for the economic returns to the farmer. Producing quality seedling demands usage of hybrid seeds as they have the ability to result in better yield, greater uniformity, improved color, disease resistance, and so forth. Hybrid seed production poses major operational challenge and its seed use efficiency plays an important role. Thus in order to overcome the difficulties currently present in conventional seedling production and to efficiently use hybrid seeds, ITC Limited Agri Business Divisions - Sustainability Cell as conceptualized a novel method of seedling production unit for farmers in West Godavari District of Andhra Pradesh. The “Green House based Float Seedling" methodology aims at a protected cultivation technique wherein the micro climate surrounding the plant/seedling body is controlled partially or fully as per the requirement of the species. This paper reports on the techno economic evaluation of green house for cultivation of float based seedling production with experimental results that was attained from the pilot implementation in West Godavari District, Rajahmundry region of India.

Keywords: Economic Assessment, Float Seedling, Green House, ITC Limited, Payback period.

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Authors: Bachir Bentouati, Lakhdar Chaib, Saliha Chettih, Gai-Ge Wang

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The problem of economic dispatch (ED) is the basic problem of power framework, its main goal is to find the most favorable generation dispatch to generate each unit, reduce the whole power generation cost, and meet all system limitations. A heuristic algorithm, recently developed called Stud Krill Herd (SKH), has been employed in this paper to treat non-convex ED problems. The proposed KH has been modified using Stud selection and crossover (SSC) operator, to enhance the solution quality and avoid local optima. We are demonstrated SKH effects in two case study systems composed of 13-unit and 40-unit test systems to verify its performance and applicability in solving the ED problems. In the above systems, SKH can successfully obtain the best fuel generator and distribute the load requirements for the online generators. The results showed that the use of the proposed SKH method could reduce the total cost of generation and optimize the fulfillment of the load requirements.

Keywords: Stud Krill Herd, economic dispatch, crossover, stud selection, valve-point effect.

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Authors: Mitansha, Suzanne Wilkinson, Regan Potangaroa

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The built environment is designed, maintained, operated, and decommissioned by construction organisations, which play a significant role in providing physical resources and rebuilding infrastructures during major crises and disasters. It is evident that enhancing the resilience of construction organisations allows better responding ability and speedy recovery from disasters and acts as a boon for the nation in the face of significant disruptions. As individuals are the integral component of any organisation, hence, individual resilience is considered a critical aspect, which may boost organisational resilience of construction sector. It has been observed that individual resilience is indirectly supported by organisation’s citizenship behaviour, job performance, and career success. Not only this, it also tends to hold a directly proportional relation with job satisfaction, physical and emotional well-being affected by organisation’s work culture, whereas the resilience of organisation increases as a result of positive adaption, growth and collective learning of the employees as an entity. Moreover, indicators like situation awareness in staff and crisis related issues, effective vulnerability management, organisational leadership and culture ensured by approachable, encouraging and people-oriented leaders, are prominent for achieving organisational resilience. It, thus, becomes perceptible that both, organisational and individual resiliencies, have the potential to influence each other. Consequently, it arises a major question that how these characteristics are associated and tend to behave with respect to each other. The study, thus, aims to explore the overlapping dimensions of organisational and individual resilience to determine the impact boundaries. The research methodology of the paper would be based on systematic literature review specifically focused on the resilience of construction industry. This would provide a direct comparison of characteristics influencing individual and organisational resilience and will present the most significant indicators of individual resilience that can eventually help to enhance the resilience of construction organisations amidst any disaster or crisis.

Keywords: Construction industry, individual resilience, organisational resilience, overlapping dimension.

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Authors: Dixit Garg, S. Luthra, A. Haleem

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During recent years, the natural environment has become a challenging topic that business organizations must consider due to the economic and ecological impacts and increasing awareness of environment protection among society. Organizations are trying to achieve the goals of improvement in environment, low cost, high quality, flexibility and more customer satisfaction. Performance measurement frameworks are very useful to monitor the performance of any organization. The basic goal of this paper is to identify performance measures and ranking of these performance measures of GSCM performance measurement towards sustainability framework. Five perspectives (Environment, Economic, Social, Operational and Cost performances) and nineteen performance measures of GSCM performance towards sustainability have been have been identified from extensive literature review. Analytical Hierarchy Process (AHP) technique has been utilized for ranking of these performance perspectives and measures. All pair comparisons in AHP have been made on the basis on the experts’ opinions (selected from academia and industry). Ranking of these performance perspectives and measures will help to understand the importance of environmental, economic, social, operational performances and cost performances in the supply chain.

Keywords: Analytical Hierarchy Process (AHP), Green Supply Chain Management, Performance Measures (PM), Sustainability.

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Authors: M. A. Badr, M.N. El Kordy, A. N. Mohib, M. M. Ibrahim

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The basic objective of the research is to study the effect of hybrid wind energy on the cost of generated electricity considering the cost of reduction CO₂ emissions. The system consists of small wind turbine(s), storage battery bank and a diesel generator (W/D/B). Using an optimization software package, different system configurations are investigated to reach optimum configuration based on the net present cost (NPC) and cost of energy (COE) as economic optimization criteria. The cost of avoided CO₂ is taken into consideration. The system is intended to supply the electrical load of a small community (gathering six families) in a remote Egyptian area. The investigated system is not connected to the electricity grid and may replace an existing conventional diesel powered electric supply system to reduce fuel consumption and CO₂ emissions. The simulation results showed that W/D energy system is more economic than diesel alone. The estimated COE is 0.308$/kWh and extracting the cost of avoided CO₂, the COE reached 0.226 $/kWh which is an external benefit of wind turbine, as there are no pollutant emissions through operational phase.

Keywords: Hybrid wind turbine systems, remote areas electrification, simulation of hybrid energy systems, techno-economic study.

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Authors: Patrick Innocenti, Elias Montini, Silvia Menato, Marzio Sorlini

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Documented experiences of industrial symbiosis are always triggered and driven only by economic goals: environmental and (even rarely) social results are sometimes assessed and declared as effects of virtuous behaviours, but are merely casual and un-pursued side externalities. Even worse: all the symbiotic project candidates entailing economic loss for just one of the (also dozen) partners are simply stopped without considering the overall benefit for the whole partnership. The here-presented approach aims at providing methodologies and tools to effectively manage these situations and fostering the implementation of virtuous symbiotic investments in manufacturing aggregations for a more sustainable production.

Keywords: Business model, industrial symbiosis, industrial agglomerations, sustainability.

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Authors: Bita Payami-Shabestari, Dariush Eslami

Abstract:

The purpose of this paper is to develop a multi-product economic production quantity model under vendor management inventory policy and restrictions including limited warehouse space, budget, and number of orders, average shortage time and maximum permissible shortage. Since the “costs” cannot be predicted with certainty, it is assumed that data behave under uncertain environment. The problem is first formulated into the framework of a bi-objective of multi-product economic production quantity model. Then, the problem is solved with three multi-objective decision-making (MODM) methods. Then following this, three methods had been compared on information on the optimal value of the two objective functions and the central processing unit (CPU) time with the statistical analysis method and the multi-attribute decision-making (MADM). The results are compared with statistical analysis method and the MADM. The results of the study demonstrate that augmented-constraint in terms of optimal value of the two objective functions and the CPU time perform better than global criteria, and goal programming. Sensitivity analysis is done to illustrate the effect of parameter variations on the optimal solution. The contribution of this research is the use of random costs data in developing a multi-product economic production quantity model under vendor management inventory policy with several constraints.

Keywords: Economic production quantity, random cost, supply chain management, vendor-managed inventory.

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Authors: Geoffrey J. Blanford, Christoph Weissbart

Abstract:

The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO₂-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European decarbonization pathway, power market investment, public policies, technology choice.

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Authors: M. Azadi, N. Tahouni, M. H. Panjeshahi

Abstract:

A techno-economic evaluation for efficient use of energy in a large scale industrial plant of methanol is carried out. This assessment is based on integration of a gas turbine with an existing plant of methanol in which the outlet gas products of exothermic reactor is expanded to power generation. Also, it is decided that methanol production rate is constant through addition of power generation system to the existing methanol plant. Having incorporated a gas turbine with the existing plant, the economic results showed total investment of MUSD 16.9, energy saving of 3.6 MUSD/yr with payback period of approximately 4.7 years.

Keywords: Energy saving, Gas turbine, Methanol, Power generation.

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Authors: Marina Kapsali, John S. Anagnostopoulos

Abstract:

Greek islands’ interconnection (IC) with larger power systems, such as the mainland grid, is a crucial issue that has attracted a lot of interest; however, the recent economic recession that the country undergoes together with the highly capital intensive nature of this kind of projects have stalled or sifted the development of many of those on a more long-term basis. On the other hand, most of Greek islands are still heavily dependent on the lengthy and costly supply chain of oil imports whilst the majority of them exhibit excellent potential for wind energy (WE) applications. In this respect, the main purpose of the present work is to investigate −through a parametric study which varies both in wind farm (WF) and submarine IC capacities− the impact of large-scale WE development on the IC of the third in size island of Greece (Lesbos) with the mainland system. The energy and economic performance of the system is simulated over a 25-year evaluation period assuming two possible scenarios, i.e. S(a): without the contribution of the local Thermal Power Plant (TPP) and S(b): the TPP is maintained to ensure electrification of the island. The economic feasibility of the two options is investigated in terms of determining their Levelized Cost of Energy (LCOE) including also a sensitivity analysis on the worst/reference/best Cases. According to the results, Lesbos island IC presents considerable economic interest for covering part of island’s future electrification needs with WE having a vital role in this challenging venture.

Keywords: Electricity generation cost, levelized cost of energy, mainland grid, wind energy rejection.

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