Search results for: innovations

Authors: Jihane Abdessadak, Hicham Achelhi, Kamal Reklaoui

Abstract:

For any company or organization, change must be natural and binding in order to evolve its business, protect its durability and remain competitive. "Adapt or disappear". But how often managers, leaders or employees develop astonishing ideas that could improve several aspects of the organization and the feedback is less that encouraging and people give unrealistic judgments just to escape change. In this paper, we are going to discuss what we do know about change and resistance to change and what we can do to tame this phenomenon and, above all, the main steps that can follow an idea man in the delicate and decisive implementation of innovations.

Keywords: Innovation, change, resistance to change/innovation, barriers to innovation, levers of innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1499

Authors: Yuri Nikitin, Veronika Rukas

Abstract:

Within the framework of the FP7 project "START" the cooperation with European research centres has had a positive impact on raising the level of innovation researches and the introduction of innovations Institute for Superhard Materials of the National Academy of Sciences (ISM NAS) of Ukraine in the economy of Europe and Ukraine, which in turn permits to speeds up the way for Ukrainian science to the European research area through the creation in Ukraine the scientific organizations of innovative type.

Keywords: Programs of the EU, innovative scientific results, innovation competence of the staff, commercialization in business of industry of the Europe and Ukraine.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2048

Authors: Donatella R. Fiorino, Marzia Loddo

Abstract:

The practice of freeing monuments from subsequent additions crosses the entire history of conservation and it is traditionally connected to the aim of valorisation, both for cultural and educational purpose and recently even for touristic exploitation. Defence heritage has been widely interested by these cultural and technical moods from philological restoration to critic innovations. A renovated critical analysis of Italian episodes and in particular the Sardinian case of the area of San Pancrazio in Cagliari, constitute an important lesson about the limits of this practice and the uncertainty in terms of results, towards the definition of a sustainable good practice in the restoration of military architectures.

Keywords: Defensive architecture, Liberation, Valorisation for tourism, Historical restoration.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2093

Authors: M.F. Zaeh, G. Reinhart, U. Lindemann, F. Karl, W. Biedermann

Abstract:

Due to today-s turbulent environment, manufacturing resources, particularly in assembly, must be reconfigured frequently. These reconfigurations are caused by various, partly cyclic, influencing factors. Hence, it is important to evaluate the innovation ability - the capability of resources to implement innovations quickly and efficiently without large expense - of manufacturing resources. For this purpose, a new methodology is presented in this article. Within the methodology, design structure matrices and graph theory are used. The results of the methodology include different indices to evaluate the innovation ability of the manufacturing resources. Due to the cyclicity of the influencing factors, the methodology can be used to synchronize the realization of adaptations.

Keywords: Changeability, Cycle Management, Design StructureMatrices, Graph Theory, Manufacturing Resource Planning, Production Management

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1485

Authors: Zhanna Mingaleva, Kseniy Balkova

Abstract:

Today many countries have the ambitious purposes of long-term and continuous development: constant growth of competitiveness, maintenance of a high standard of living of the population, leadership in the world market. One of the best possible ways of achievement of these purposes is a transition of the countries to innovative economy. The paper presents the analyses of problems of forming of innovative receptivity to innovations and creation of «innovative society». Creation of an innovative culture in a society and increase of the level of prestige of innovative activity are the best ways of developing of innovative processes. The base of the analysis is a comparing of Russia and different developed countries according to the level of some indictors of innovative activity.1

Keywords: innovative activity, innovative development ofeconomy, innovative receptivity, «innovative society»

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2008

Authors: Amalia Suzianti

Abstract:

This research elaborates decision models for product innovation in the early phases, focusing on one of the most widely implemented method in marketing research: conjoint analysis and the related conjoint-based models with special focus on heuristics programming techniques for the development of optimal product innovation. The concept, potential, requirements and limitations of conjoint analysis and its conjoint-based heuristics successors are analysed and the development of conceptual framework of Genetic Algorithm (GA) as one of the most widely implemented heuristic methods for developing product innovations are discussed.

Keywords: Product Innovation, Conjoint Analysis, Heuristic Model, Genetic Algorithm

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1607

Authors: Juha Kettunen

Abstract:

This study presents a project that tests and adjusts active European learning and teaching methods in Indonesian universities to increase their external impact on enterprises and other organizations; it also assesses the implementation of the Erasmus+ projects funded by the European Union. The project is based on the approach of innovation pedagogy that responds to regional development needs and integrates applied research and development projects into education to create capabilities for students to participate in development work after graduation. The assessment of the Erasmus+ project resulted in many improvements that can be made to achieve higher quality and innovativeness. The results of this study are useful for those who want to improve the applied research and development projects of higher education institutions.

Keywords: Higher education, innovations, project management, networks.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1841

Authors: S. Karklina, I. Erins

Abstract:

The main problem is that there is a very low innovation performance in Latvia. Since Latvia is a Member State of European Union, it also shall have to fulfill the set targets and to improve innovative results.Universities are one of the main performers to provide innovative capacity of country. University, industry and government need to cooperate for getting best results.The intellectual property is one of the indicators to determine innovation level in the country or organization, and patents are one of the characteristics of intellectual property.The objective of the article is to determine indicators characterizing innovative environment in Latvia and influence of the development of universities on them.The methods that will be used in the article to achieve the objectives are quantitative and qualitative analysis of the literature, statistical data analysis and graphical analysis methods.

Keywords: HEI, innovations, Latvia, patents.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1881

Authors: Liubov Evstigneeva

Abstract:

In this paper an attempt is made to establish causal nexuses between innovation and international trade in Russia. The topicality of this issue is determined by the necessity of choosing policy instruments for economic modernization and transition to innovative development. The vector auto regression (VAR) model and Granger test are applied for the Russian monthly data from 2005 until the second quartile of 2015. Both lagged import and export at the national level cause innovation, the latter starts to stimulate foreign trade since it is a remote lag. In comparison to aggregate data, the results by patent’s categories are more diverse. Importing technologies from foreign countries stimulates patent activity, while innovations created in Russia are only Granger causality for import to Commonwealth of Independent States.

Keywords: Export, import, innovation, patents.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1194

Authors: N. Sefiani, L. Chraibi, K. Reklaoui, Y. Sefiani

Abstract:

Currently, business environment is characterized by pressure caused by stiff competition, constant changes (e.g., product/ technological innovations, decreasing product lifecycles, and product proliferation), and a high level of market uncertainty band unpredictability. The agility of the Supply Chain Management (SCM) is clearly identified as a key factor for success and a strategic essential lever. This paper explores the impact of deploying competence management and Supply Chain Operations Reference (SCOR) model on firm performance. Our approach is based on a systemic view by considering the SCOR reference model as the heart of competence management system.

Keywords: Competence, competence management, performance, SCOR model and agility.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1227

Authors: B. Fahimnia, L.H.S. Luong, B. Motevallian, R. M. Marian, M. M. Esmaeil

Abstract:

Product Lead Time (PLT) is the period of time from receiving a customer's order to delivering the final product. PLT is an indicator of the manufacturing controllability, efficiency and performance. Due to the explosion in the rate of technological innovations and the rapid changes in the nature of manufacturing processes, manufacturing firms can bring the new products to market quicker only if they can reduce their PLT and speed up the rate at which they can design, plan, control, and manufacture. Although there is a substantial body of research on manufacturing relating to cost and quality issues, there is no much specific research conducted in relation to the formulation of PLT, despite its significance and importance. This paper analyzes and formulates PLT which can be used as a guideline for achieving the shorter PLT. Further more this paper identifies the causes of delay and factors that contributes to the increased product lead-time.

Keywords: Manufacturing Control, Manufacturing Lead Time, Manufacturing Planning, Product Design, and Product Lead Time.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1761

Authors: Mykola S. Shestavin

Abstract:

A strategy for the creation of a Virtual Interactive Platform (or Networking Platform) to combine the four web-baseness of expert systems on the transfer and diffusion of low-carbon technologies. It used the concept of “Open Innovation” and “Triple Helix” with regard to theories of “Green Growth” and “Carbon Footprint”. Interpreters expert systems operate on the basis of models of the “Predator-Prey” for the process of transfer and diffusion of technologies, taking into account the features caused by the need to mitigate the effects of climate change.

Keywords: Climate Change, Expert Systems, Low-Carbon Technology, Open Innovation, Virtual Interactive Platform.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1892

Authors: Petra Hurbišová, Monika Davidová

Abstract:

The article deals with the personality of military professionals (commanders) and their way of leading and commanding today and in historical context. The first part focuses on the leadership skills of Alexander the Great, who introduced strategic innovations and even from today's perspective; he excelled in efficient work with people. This paper focuses on the way which he achieved his goals. Further attention is paid to approaches to commander´s personality by other great generals. The paper is also focused on personality traits of military professionals necessary for successful management and leadership in today's variable and challenging environment. Finally, attention is paid to the effective and ineffective ways of behavior of commanders and determining what styles of leadership is appropriate for a given situation, whether in peacetime or on deployment.

Keywords: Authority, commander, leader, leadership, military professional, personality.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2318

Authors: Pavol Molnar, Martin Dolinsky

Abstract:

Paper deals with environmental metrics and assessment systems devoted to Small and Medium Sized Enterprises. Authors are presenting proposed assessment model which has an ability to discover current environmental strengths and weaknesses of Small and Middle Sized Enterprise. Suggested model has also an ambition to become a Sustainability Decision Tool. Model is able to identify "best environmental devision" in the company, and to quantify how this decision contributed into overall environmental improvement. Authors understand environmental improvements as environmental innovations (product, process and organizational). Suggested model is based on its own concept; however, authors are also utilizing already existing environmental assessment tools.

Keywords: Corporate Social Responsibility, (e)IMPACT model, Environmental metrics, , Small and Middle Sized Enterprises

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1535

Authors: Zh.Mingaleva, K.Balkova

Abstract:

Innovations and innovative activity get the increasing value for successful financial and economic activity of the countries and regions. The level of innovative sphere development determines place of a country or a region in world economy and forms a basis of steady economic growth. This article is devoted to different aspects of organization of the national economic safety in the conditions of innovative development, its problems, risks and threats. Economy can be considered as aspiring for transition to innovative way only with finding of economic safety: financial independence, power stability and technological progress. There are statistical indicators, defining the level of economic security and factors, threatening economic safety of the state. The research is based on the analysis of factors and indicators in conditions of innovative development. The paper is illustrated by the examples of possible estimated system of the economic safety level.

Keywords: Economic safety, innovative activity, innovative development, innovative economy

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1534

Authors: Rachel Baruch

Abstract:

This article describes the implementation of an experimental model for teaching ICT tools and digital environments in teachers training college. In most educational systems in the Western world, new programs were developed in order to bridge the digital gap between teachers and students. In spite of their achievements, these programs are limited due to several factors: The teachers in the schools implement new methods incorporating technological tools into the curriculum, but meanwhile the technology changes and advances. The interface of tools changes frequently, some tools disappear and new ones are invented. These conditions require an experimental model of training the pre-service teachers. The appropriate method for instruction within the domain of ICT tools should be based on exposing the learners to innovations, helping them to gain experience, teaching them how to deal with challenges and difficulties on their own, and training them. This study suggests some principles for this approach and describes step by step the implementation of this model.

Keywords: ICT tools, e-learning, pre-service teachers.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1093

Authors: Saheed A. Gbadegeshin

Abstract:

Commercialization method is a means to make inventions available at the market for final consumption. It is described as an important tool for keeping business enterprises sustainable and improving national economic growth. Thus, there are several scholarly publications on it, either presenting or testing different methods for commercialization. However, young entrepreneurs, technologists and scientists would like to know the best method to commercialize their innovations. Then, this question arises: What is the best commercialization method? To answer the question, a systematic literature review was conducted, and practitioners were interviewed. The literary results revealed that there are many methods but new methods are needed to improve commercialization especially during these times of economic crisis and political uncertainty. Similarly, the empirical results showed there are several methods, but the best method is the one that reduces costs, reduces the risks associated with uncertainty, and improves customer participation and acceptability. Therefore, it was concluded that new commercialization method is essential for today's high technologies and a method was presented.

Keywords: Commercialization method, high technology, lean start-up methodology, technology, knowledge.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1301

Authors: M. Holle, M. Roth, M. R. Gürtler, U. Lindemann

Abstract:

This paper gives insights into the research project “InnoCyFer” (in the form of an outlook) which is funded by the German Federal Ministry of Economics and Technology. Enabling the integrated customer individual product design as well as flexible manufacturing of these products are the main objectives of the project. To achieve this, a web-based Open Innovation-Platform containing an integrated Toolkit will be developed. This toolkit enables the active integration of the customer’s creativity and potentials of innovation in the product development process. Furthermore, the project will show the chances and possibilities of customer individualized products by building and examining the continuous process from innovation through the customers to the flexible manufacturing of individual products.

Keywords: Customer Individual Product Design, Innovation Networks, Open Innovation, Open Innovation Platform and Toolkit.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1738

Authors: Asil Y. Zureigat, Ayat A. Oudat

Abstract:

Analyzing the old and bringing in the new is an ever-ongoing process in driving innovations in architecture. This paper looks at the excessive use of stone in apartment buildings in Amman and speculates on the existing possibilities of changing the cladding material. By looking at architectural exceptions present in Amman, the paper seeks to make the exception the rule, by adding new materials to the architectural library of Amman and in turn, project a series of possible new identities to the existing stone scape. Through distributing a survey, conducting a photographic study on exceptional buildings and shedding light on the historical narrative of stone, the paper highlights the ways in which new finishing materials such as plaster, paint and stone variations could be introduced in an attempt to project a new architectural identity to Amman.

Keywords: Architectural city identity, cladding materials, façade architecture, image of the city.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 584

Authors: Monika Dwilinska

Abstract:

Innovations, especially technological, are considered key-drivers for sustainable economic growth and competitiveness in the globalised world. As such they should also play an important role in the process of economical convergence inside the EU. Unfortunately, the problem of insufficient innovation performance concerns around half of the EU countries. Poland shows that a lack of a consistent high-tech financing system constitutes a serious obstacle for the development of innovative firms. In this article we will evaluate these questions referring to the example of Ammono S.A., a Polish company established to develop and commercialise an original technology for the production of bulk GaN crystals. We will focus on its efforts to accumulate the financial resources necessary at different stages of its development. The purpose of this article is to suggest possible ways to improve the national innovative system, which would make it more competent in generating high-tech leaders.

Keywords: High-tech financing, innovation, national innovative system

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1286

Authors: H. Magri, N. Abghour, M. Ouzzif

Abstract:

The 5th generation of mobile networks is term used in various research papers and projects to identify the next major phase of mobile telecommunications standards. 5G wireless networks will support higher peak data rate, lower latency and provide best connections with QoS guarantees. In this article, we discuss various promising technologies for 5G wireless communication systems, such as IPv6 support, World Wide Wireless Web (WWWW), Dynamic Adhoc Wireless Networks (DAWN), BEAM DIVISION MULTIPLE ACCESS (BDMA), Cloud Computing, cognitive radio technology and FBMC/OQAM. This paper is organized as follows: First, we will give introduction to 5G systems, present some goals and requirements of 5G. In the next, basic differences between 4G and 5G are given, after we talk about key technology innovations of 5G systems and finally we will conclude in last Section.

Keywords: WWWW, BDMA, DAWN, 5G, 4G, IPv6, Cloud Computing, cognitive radio, FBMC/OQAM.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3827

Authors: Andrej Miklošík, Eva Hvizdová, Štefan Žák

Abstract:

Many companies have switched their processes to project-oriented in the last years. This brings new possibilities and effectiveness not only in the field of external processes connected with the product delivery but also the internal processes as well. However centralized project organization which is based on the role of project manager in the team has proved insufficient in some cases. Agile methods of project organization are trying to solve this problem by bringing new view on the project organization, roles, processes and competences. Scrum is one of these methods which builds on the principles of knowledge management to drive the project to effectiveness from all view angles. Using this method to organize internal and delivery projects helps the organization to create and share knowledge throughout the company. It also supports forming unique competences of individuals and project teams and drives innovations in the company.

Keywords: agile software development, knowledge management, knowledge dissemination, project management, SCRUM

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2612

Authors: Patrick T. I. Lam, Wenjing Yang

Abstract:

A smart city project embraces benefits and costs which can be classified under direct and indirect categories. Externalities come into the picture, but they are often difficult to quantify. Despite this barrier, policy makers need to carry out cost-benefit analysis to justify the huge investments needed to make a city smart. The recent trend is towards the engagement of the private sector to utilize their resources and expertise, especially in the Information and Communication Technology (ICT) areas, where innovations blossom. This study focuses on the identification of costs (on a life cycle basis) and benefits associated with smart city project developments based on a comprehensive literature review and case studies, where public-private partnerships would warrant consideration, the related costs and benefits are highlighted. The findings will be useful for policy makers of cities.

Keywords: Costs and benefits, identification, public-private partnerships, smart city projects.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1692

Authors: Hung T. Tsou, Hsuan Y. Hsu

Abstract:

Service innovations are central concerns in fast changing environment. Due to the fitness in customer demands and advances in information technologies (IT) in service management, an expanded conceptualization of e-service innovation is required. Specially, innovation practices have become increasingly more challenging, driving managers to employ a different open innovation model to maintain competitive advantages. At the same time, firms need to interact with external and internal customers in innovative environments, like the open innovation networks, to co-create values. Based on these issues, an important conceptual framework of e-service innovation is developed. This paper aims to examine the contributing factors on e-service innovation and firm performance, including financial and non-financial aspects. The study concludes by showing how e-service innovation will play a significant role in growing the overall values of the firm. The discussion and conclusion will lead to a stronger understanding of e-service innovation and co-creating values with customers within open innovation networks.

Keywords: e-Service innovation, performance, open innovation networks, co-create value.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2126

Authors: L. Tirabeni, K. E. Soderquist, P. Pisano

Abstract:

Our purpose is to investigate how the relationship between employees and innovation management processes can drive organizations to successful innovations. This research is deeply related to a new way of thinking about human resources management practices. It’s not simply about improving the employees’ engagement, but rather about a different and more radical commitment: the employee can take on the role traditionally played by the customer, namely to become the first tester of an innovative product or service, the first user/customer and eventually the first investor in the innovation. This new perception of employees could create the basis of a novelty in the innovation process where innovation is taken to a next level when the problems with customer driven innovation on the one hand, and employees driven innovation on the other can be balanced. This research identifies an effective approach to innovation where the employees will participate throughout the whole innovation process, not only in the idea creation but also in the idea definition and development by giving feedback in parallel to that provided by customers and lead-users.

Keywords: Employee-Driven Innovation, engagement, human resource management, innovative companies.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2005

Authors: Ezeni Brzovska, Durdana Ozretic-Dosen

Abstract:

The purpose of this paper is to deepen the understanding of the product cues that influence purchase decision for a specific product category – chocolate, and to identify demographic differences in the buying behavior. ANOVA was employed for analyzing the significance level for nine product cues, and the survey showed statistically significant differences among different age and gender groups, and between respondents with different levels of education. From the theoretical perspective, the study adds to the existing knowledge by contributing with the research results from the new environment (Southeast Europe, Macedonia), which has been neglected so far. Establishing the level of significance for the product cues that affect buying behavior in the chocolate consumption context might help managers to improve marketing decision-making, and better meet consumer needs through identifying opportunities for packaging innovations and/or personalization toward different target groups.

Keywords: Chocolate consumption context, chocolate selection, demographic characteristics, product cues.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1294

Authors: Matthew O. Ikuabe, Ayodeji E. Oke, Clinton O. Aigbavboa, Douglas O. Aghimien, Tshepo P. Mokori

Abstract:

The use of technological innovations has been touted to be beneficial in the delivery of construction projects. Particularly, Radio Frequency Identification (RFID) technology is widely regarded to be of immense advantage for the management of construction projects. This study focused on evaluating the barriers to the use of RFID technology for the delivery of construction projects. Using Gauteng Province in South Africa as the study area, questionnaire was used in eliciting responses from construction professionals which made up the population of the study. Retrieved data were analyzed using Mean Item Score and One-Sample t-test. Findings from the study showed that the most significant barriers to the deployment of RFID for construction project delivery are high cost and lack of awareness. Conclusively, the study made recommendations that would aid in the abatement of the barriers to the use of RFID technology for construction project delivery.

Keywords: Barriers, construction, project delivery, RFID.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 459

Authors: Petr Teply

Abstract:

While the form of crises may change, their essence remains the same (such as a cycle of abundant liquidity, rapid credit growth, and a low-inflation environment followed by an asset-price bubble). The current market turbulence began in mid-2000s when the US economy shifted to imbalanced both internal and external macroeconomic positions. We see two key causes of these problems – loose US monetary policy in early 2000s and US government guarantees issued on the securities by government-sponsored enterprises what was further fueled by financial innovations such as structured credit products. We have discovered both negative and positive lessons deriving from this crisis and divided the negative lessons into three groups: financial products and valuation, processes and business models, and strategic issues. Moreover, we address key risk management lessons and exit strategies derived from the current crisis and recommend policies that should help diminish the negative impact of future potential crises.

Keywords: exist strategy, global crisis, risk management, corporate governance

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2084

Authors: Halil Fidan

Abstract:

In this work, the autoregressive vectors are used to know dynamics of the Agricultural export and import, and the real effective exchange rate (REER). In order to analyze the interactions, the impulse- response function is used in decomposition of variance, causality of Granger as well as the methodology of Johansen to know the relations co integration. The REER causes agricultural export and import in the sense of Granger. The influence displays the innovations of the REER on the agricultural export and import is not very great and the duration of the effects is short. It displays that REER has an immediate positive effect, after the tenth year it displays smooth results on the agricultural export. Evidence of a vector exists co integration, In short run, REER has smaller effects on export and import, compared to the long-run effects.

Keywords: Agricultural import, agricultural export, autoregressive causality of granger, impulse-response function, long run, short run.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2577

Authors: Abdel Aziz, Hadia H.

Abstract:

Since the 1980s, banks and financial service institutions have been running in an endless race of innovation to cope with the advancing technology, the fierce competition, and the more sophisticated and demanding customers. In order to guide their innovation efforts, several researches were conducted to identify the success and failure factors of new financial services. These mainly included organizational factors, marketplace factors and new service development process factors. They almost all emphasized the importance of customer and market orientation as a response to the highly perceptual and intangible characteristics of financial services. However, they deemphasized the critical characteristics of high involvement of risk and close correlation with the economic conditions, a factor that heavily contributed to the Global financial Crisis of 2008. This paper reviews the success and failure factors of new financial services. It then adds new perspectives emerging from the analysis of the role of innovation in the global financial crisis.

Keywords: Financial innovation, global financial crisis, lessons learned from global financial crisis, success factors in financial innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1730