Search results for: strategic decisions.
71 Six Sigma Solutions and its Benefit-Cost Ratio for Quality Improvement
Authors: S. Homrossukon, A. Anurathapunt
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This is an application research presenting the improvement of production quality using the six sigma solutions and the analyses of benefit-cost ratio. The case of interest is the production of tile-concrete. Such production has faced with the problem of high nonconforming products from an inappropriate surface coating and had low process capability based on the strength property of tile. Surface coating and tile strength are the most critical to quality of this product. The improvements followed five stages of six sigma solutions. After the improvement, the production yield was improved to 80% as target required and the defective products from coating process was remarkably reduced from 29.40% to 4.09%. The process capability based on the strength quality was increased from 0.87 to 1.08 as customer oriented. The improvement was able to save the materials loss for 3.24 millions baht or 0.11 million dollars. The benefits from the improvement were analyzed from (1) the reduction of the numbers of non conforming tile using its factory price for surface coating improvement and (2) the materials saved from the increment of process capability. The benefit-cost ratio of overall improvement was high as 7.03. It was non valuable investment in define, measure, analyses and the initial of improve stages after that it kept increasing. This was due to there were no benefits in define, measure, and analyze stages of six sigma since these three stages mainly determine the cause of problem and its effects rather than improve the process. The benefit-cost ratio starts existing in the improve stage and go on. Within each stage, the individual benefitcost ratio was much higher than the accumulative one as there was an accumulation of cost since the first stage of six sigma. The consideration of the benefit-cost ratio during the improvement project helps make decisions for cost saving of similar activities during the improvement and for new project. In conclusion, the determination of benefit-cost ratio behavior through out six sigma implementation period provides the useful data for managing quality improvement for the optimal effectiveness. This is the additional outcome from the regular proceeding of six sigma.Keywords: Six Sigma Solutions, Process Improvement, QualityManagement, Benefit Cost Ratio
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 213870 Decision Algorithm for Smart Airbag Deployment Safety Issues
Authors: Aini Hussain, M A Hannan, Azah Mohamed, Hilmi Sanusi, Burhanuddin Yeop Majlis
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Airbag deployment has been known to be responsible for huge death, incidental injuries and broken bones due to low crash severity and wrong deployment decisions. Therefore, the authorities and industries have been looking for more innovative and intelligent products to be realized for future enhancements in the vehicle safety systems (VSSs). Although the VSSs technologies have advanced considerably, they still face challenges such as how to avoid unnecessary and untimely airbag deployments that can be hazardous and fatal. Currently, most of the existing airbag systems deploy without regard to occupant size and position. As such, this paper will focus on the occupant and crash sensing performances due to frontal collisions for the new breed of so called smart airbag systems. It intends to provide a thorough discussion relating to the occupancy detection, occupant size classification, occupant off-position detection to determine safe distance zone for airbag deployment, crash-severity analysis and airbag decision algorithms via a computer modeling. The proposed system model consists of three main modules namely, occupant sensing, crash severity analysis and decision fusion. The occupant sensing system module utilizes the weight sensor to determine occupancy, classify the occupant size, and determine occupant off-position condition to compute safe distance for airbag deployment. The crash severity analysis module is used to generate relevant information pertinent to airbag deployment decision. Outputs from these two modules are fused to the decision module for correct and efficient airbag deployment action. Computer modeling work is carried out using Simulink, Stateflow, SimMechanics and Virtual Reality toolboxes.Keywords: Crash severity analysis, occupant size classification, smart airbag, vehicle safety system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 411869 Multiple Criteria Decision Making Analysis for Selecting and Evaluating Fighter Aircraft
Authors: C. Ardil, A. M. Pashaev, R.A. Sadiqov, P. Abdullayev
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In this paper, multiple criteria decision making analysis technique, is presented for ranking and selection of a set of determined alternatives - fighter aircraft - which are associated with a set of decision factors. In fighter aircraft design, conflicting decision criteria, disciplines, and technologies are always involved in the design process. Multiple criteria decision making analysis techniques can be helpful to effectively deal with such situations and make wise design decisions. Multiple criteria decision making analysis theory is a systematic mathematical approach for dealing with problems which contain uncertainties in decision making. The feasibility and contributions of applying the multiple criteria decision making analysis technique in fighter aircraft selection analysis is explored. In this study, an integrated framework incorporating multiple criteria decision making analysis technique in fighter aircraft analysis is established using entropy objective weighting method. An improved integrated multiple criteria decision making analysis method is utilized to aggregate the multiple decision criteria into one composite figure of merit, which serves as an objective function in the decision process. Therefore, it is demonstrated that the suitable multiple criteria decision making analysis method with decision solution provides an effective objective function for the decision making analysis. Considering that the inherent uncertainties and the weighting factors have crucial decision impacts on the fighter aircraft evaluation, seven fighter aircraft models for the multiple design criteria in terms of the weighting factors are constructed. The proposed multiple criteria decision making analysis model is based on integrated entropy index procedure, and additive multiple criteria decision making analysis theory. Hence, the applicability of proposed technique for fighter aircraft selection problem is considered. The constructed multiple criteria decision making analysis model can provide efficient decision analysis approach for uncertainty assessment of the decision problem. Consequently, the fighter aircraft alternatives are ranked based their final evaluation scores, and sensitivity analysis is conducted.
Keywords: Fighter Aircraft, Fighter Aircraft Selection, Multiple Criteria Decision Making, Multiple Criteria Decision Making Analysis, MCDMA
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 62668 Comparison of Composite Programming and Compromise Programming for Aircraft Selection Problem Using Multiple Criteria Decision Making Analysis Method
Authors: C. Ardil
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In this paper, the comparison of composite programming and compromise programming for the aircraft selection problem is discussed using the multiple criteria decision analysis method. The decision making process requires the prior definition and fulfillment of certain factors, especially when it comes to complex areas such as aircraft selection problems. The proposed technique gives more efficient results by extending the composite programming and compromise programming, which are widely used in modeling multiple criteria decisions. The proposed model is applied to a practical decision problem for evaluating and selecting aircraft problems.A selection of aircraft was made based on the proposed approach developed in the field of multiple criteria decision making. The model presented is solved by using the following methods: composite programming, and compromise programming. The importance values of the weight coefficients of the criteria are calculated using the mean weight method. The evaluation and ranking of aircraft are carried out using the composite programming and compromise programming methods. In order to determine the stability of the model and the ability to apply the developed composite programming and compromise programming approach, the paper analyzes its sensitivity, which involves changing the value of the coefficient λ and q in the first part. The second part of the sensitivity analysis relates to the application of different multiple criteria decision making methods, composite programming and compromise programming. In addition, in the third part of the sensitivity analysis, the Spearman correlation coefficient of the ranks obtained was calculated which confirms the applicability of all the proposed approaches.
Keywords: composite programming, compromise programming, additive weighted model, multiplicative weighted model, multiple criteria decision making analysis, MCDMA, aircraft selection
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 69567 The Effects of Placement and Cross-Section Shape of Shear Walls in Multi-Story RC Buildings with Plan Irregularity on Their Seismic Behavior by Using Nonlinear Time History Analyses
Authors: Mohammad Aminnia, Mahmood Hosseini
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Environmental and functional conditions, sometimes, necessitate the architectural plan of the building to be asymmetric, and this result in an asymmetric structure. In such cases finding an optimal pattern for locating the components of lateral load bearing system, including shear walls, in the building’s plan is desired. In case of shear wall in addition to the location the shape of the wall cross-section is also an effective factor. Various types of shear walls and their proper layout might come effective in better stiffness distribution and more appropriate seismic response of the building. Several studies have been conducted in the context of analysis and design of shear walls; however, few studies have been performed on making decisions for the location and form of shear walls in multistory buildings, especially those with irregular plan. In this study, an attempt has been made to obtain the most reliable seismic behavior of multi-story reinforced concrete vertically chamfered buildings by using more appropriate shear walls form and arrangement in 7-, 10-, 12-, and 15-stoy buildings. The considered forms and arrangements include common rectangular walls and L-, T-, U- and Z-shaped plan, located as the core or in the outer frames of the building structure. Comparison of seismic behaviors of the buildings, including maximum roof displacement and particularly formation of plastic hinges and their distribution in the buildings’ structures, have been done based on the results of a series of nonlinear time history analyses, by using a set of selected earthquake records. Results show that shear walls with U-shaped cross-section, placed as the building central core, and also walls with Z-shaped cross-section, placed at the corners give the building more reliable seismic behavior.Keywords: Vertically chamfered buildings, non-linear time history analyses, L-, T-, U- and Z-shaped plan walls.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 292966 Extraction of Forest Plantation Resources in Selected Forest of San Manuel, Pangasinan, Philippines Using LiDAR Data for Forest Status Assessment
Authors: Mark Joseph Quinto, Roan Beronilla, Guiller Damian, Eliza Camaso, Ronaldo Alberto
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Forest inventories are essential to assess the composition, structure and distribution of forest vegetation that can be used as baseline information for management decisions. Classical forest inventory is labor intensive and time-consuming and sometimes even dangerous. The use of Light Detection and Ranging (LiDAR) in forest inventory would improve and overcome these restrictions. This study was conducted to determine the possibility of using LiDAR derived data in extracting high accuracy forest biophysical parameters and as a non-destructive method for forest status analysis of San Manual, Pangasinan. Forest resources extraction was carried out using LAS tools, GIS, Envi and .bat scripts with the available LiDAR data. The process includes the generation of derivatives such as Digital Terrain Model (DTM), Canopy Height Model (CHM) and Canopy Cover Model (CCM) in .bat scripts followed by the generation of 17 composite bands to be used in the extraction of forest classification covers using ENVI 4.8 and GIS software. The Diameter in Breast Height (DBH), Above Ground Biomass (AGB) and Carbon Stock (CS) were estimated for each classified forest cover and Tree Count Extraction was carried out using GIS. Subsequently, field validation was conducted for accuracy assessment. Results showed that the forest of San Manuel has 73% Forest Cover, which is relatively much higher as compared to the 10% canopy cover requirement. On the extracted canopy height, 80% of the tree’s height ranges from 12 m to 17 m. CS of the three forest covers based on the AGB were: 20819.59 kg/20x20 m for closed broadleaf, 8609.82 kg/20x20 m for broadleaf plantation and 15545.57 kg/20x20m for open broadleaf. Average tree counts for the tree forest plantation was 413 trees/ha. As such, the forest of San Manuel has high percent forest cover and high CS.
Keywords: Carbon stock, forest inventory, LiDAR, tree count.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 128165 Government of Ghana’s Budget: An Assessment of Its Compliance with Fundamental Budgeting Principles
Authors: Mohammed Sani Abdulai
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Public sector budgeting, all over the world, is underpinned by some universally accepted principles of sound budget management such as budget unity, universality, annuality, and a balanced budget. These traditional principles, though fundamental, had, in recent years, been augmented by the more modern principles of budgeting within fiscal objective, alignment with medium-term strategic plans as well as the observance of such related concepts as transparency, openness and accessibility. In this paper, we have endeavored to shed light, from literature and practice, on the meaning and purposes of such fundamental budgeting principles. We have also assessed the extent to which the Government of Ghana’s budget complies with the four traditional principles of budget unity, universality, annuality, and a balanced budget and the three out of the ten modern principles of budgetary governance of Organisation for Economic Co-operation and Development (OECD). We did so by using a qualitative method of review and analysis of existing documents and the performance assessment reports on Ghana’s Public Financial Management (PFM) measured using such frameworks as the Public Expenditure and Financial Accountability (PEFA), the Open Budget Survey (OBS) and its Index (OBI), the reports and action plans of Open Government Partnership (OGP) and the Global Initiative for Fiscal Transparency (GIFT). Other performance assessment reports that were relied on included, but not limited to, the Joint Evaluation Report of PFM in Ghana, 2001-2010, and the Joint Evaluation of Budget Support to Ghana, 2005-2015. We have, through this paper, brought to the fore the lessons that could be learned on how those budgetary principles undergird the Government of Ghana’s budget formulation, execution, accounting, control, and oversight. These lessons include, but are not limited to, the need for both scholars and practitioners in the PFM space to be aware of the impact of those principles on public sector budgeting.
Keywords: Annulaity, Balanced Budget, Budget Unity, Budgetary Principles, OECD’s Principles on Budgetary Governance, Open Budget Index, Public Expenditure and Financial Accountability, Universality.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 66464 Wind Energy Status in Turkey
Authors: Mustafa Engin Başoğlu, Bekir Çakir
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Since large part of electricity is generated by using fossil based resources, energy is an important agenda for countries. In this context, renewable energy sources are alternative to conventional sources due to the depletion of fossil resources, increasing awareness of climate change and global warming concerns. Solar, wind and hydropower energy are the main renewable energy sources. Among of them, since installed capacity of wind power has increased approximately eight times between 2008 - November of 2014, wind energy is a promising source for Turkey. Furthermore, signing of Kyoto Protocol can be accepted as a milestone for Turkey's energy policy. Turkish Government has announced Vision 2023 (energy targets by 2023) in 2010-2014 Strategic Plan prepared by Ministry of Energy and Natural Resources (MENR). Energy targets in this plan can be summarized as follows: Share of renewable energy sources in electricity generation is 30% of total electricity generation by 2023. Installed capacity of wind energy will be 20 GW by 2023. Other renewable energy sources such as solar, hydropower and geothermal are encouraged with new incentive mechanisms. Dependence on foreign energy is reduced for sustainability and energy security. On the other hand, since Turkey is surrounded by three coastal areas, wind energy potential is convenient for wind power application. As of November of 2014, total installed capacity of wind power plants is 3.51 GW and a lot of wind power plants are under construction with capacity 1.16 GW. Turkish government also encourages the locally manufactured equipments. In this context, one of the projects funded by private sector, universities and TUBİTAK names as MILRES is an important project aimed to promote the use wind energy in electricity generation. Within this project, wind turbine with 500 kW power has been produced and will be installed at the beginning of the 2015. After that, by using the experience obtained from the first phase of the project, a wind turbine with 2.5 MW power will be manufactured in an industrial scale.
Keywords: Wind energy, wind speed, Vision 2023, MILRES (national wind energy system), wind energy potential, Turkey.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 327363 Military Fighter Aircraft Selection Using Multiplicative Multiple Criteria Decision Making Analysis Method
Authors: C. Ardil
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Multiplicative multiple criteria decision making analysis (MCDMA) method is a systematic decision support system to aid decision makers reach appropriate decisions. The application of multiplicative MCDMA in the military aircraft selection problem is significant for proper decision making process, which is the decisive factor in minimizing expenditures and increasing defense capability and capacity. Nine military fighter aircraft alternatives were evaluated by ten decision criteria to solve the decision making problem. In this study, multiplicative MCDMA model aims to evaluate and select an appropriate military fighter aircraft for the Air Force fleet planning. The ranking results of multiplicative MCDMA model were compared with the ranking results of additive MCDMA, logarithmic MCDMA, and regrettive MCDMA models under the L2 norm data normalization technique to substantiate the robustness of the proposed method. The final ranking results indicate the military fighter aircraft Su-57 as the best available solution.
Keywords: Aircraft Selection, Military Fighter Aircraft Selection, Air Force Fleet Planning, Multiplicative MCDMA, Additive MCDMA, Logarithmic MCDMA, Regrettive MCDMA, Mean Weight, Multiple Criteria Decision Making Analysis, Sensitivity Analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 77362 Exploring Management of the Fuzzy Front End of Innovation in a Product Driven Startup Company
Authors: Dmitry K. Shaytan, Georgy D. Laptev
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In our research we aimed to test a managerial approach for the fuzzy front end (FFE) of innovation by creating controlled experiment/ business case in a breakthrough innovation development. The experiment was in the sport industry and covered all aspects of the customer discovery stage from ideation to prototyping followed by patent application. In the paper we describe and analyze mile stones, tasks, management challenges, decisions made to create the break through innovation, evaluate overall managerial efficiency that was at the considered FFE stage. We set managerial outcome of the FFE stage as a valid product concept in hand. In our paper we introduce hypothetical construct “Q-factor” that helps us in the experiment to distinguish quality of FFE outcomes. The experiment simulated for entrepreneur the FFE of innovation and put on his shoulders responsibility for the outcome of valid product concept. While developing managerial approach to reach the outcome there was a decision to look on product concept from the cognitive psychology and cognitive science point of view. This view helped us to develop the profile of a person whose projection (mental representation) of a new product could optimize for a manager or entrepreneur FFE activities. In the experiment this profile was tested to develop breakthrough innovation for swimmers. Following the managerial approach the product concept was created to help swimmers to feel/sense water. The working prototype was developed to estimate the product concept validity and value added effect for customers. Based on feedback from coachers and swimmers there were strong positive effect that gave high value for customers, and for the experiment – the valid product concept being developed by proposed managerial approach for the FFE. In conclusions there is a suggestion of managerial approach that was derived from experiment.
Keywords: Concept development, concept testing, customer discovery, entrepreneurship, entrepreneurial management, idea generation, idea screening, startup management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 185361 Statistical Approach to Identify Stress and Biases Impairing Decision-Making in High-Risk Industry
Authors: Ph. Fauquet-Alekhine
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Decision-making occurs several times an hour when working in high risk industry and an erroneous choice might have undesirable outcomes for people and the environment surrounding the industrial plant. Industrial decisions are very often made in a context of acute stress. Time pressure is a crucial stressor leading decision makers sometimes to boost up the decision-making process and if it is not possible then shift to the simplest strategy. We thus found it interesting to update the characterization of the stress factors impairing decision-making at Chinon Nuclear Power Plant (France) in order to optimize decision making contexts and/or associated processes. The investigation was based on the analysis of reports addressing safety events over the last 3 years. Among 93 reports, those explicitly addressing decision-making issues were identified. Characterization of each event was undertaken in terms of three criteria: stressors, biases impairing decision making and weaknesses of the decision-making process. The statistical analysis showed that biases were distributed over 10 possibilities among which the hypothesis confirmation bias was clearly salient. No significant correlation was found between criteria. The analysis indicated that the main stressor was time pressure and highlights an unexpected form of stressor: the trust asymmetry principle of the expert. The analysis led to the conclusion that this stressor impaired decision-making from a psychological angle rather than from a physiological angle: it induces defensive bias of self-esteem, self-protection associated with a bias of confirmation. This leads to the hypothesis that this stressor can intervene in some cases without being detected, and to the hypothesis that other stressors of the same kind might occur without being detected too. Further investigations addressing these hypotheses are considered. The analysis also led to the conclusion that dealing with these issues implied i) decision-making methods being well known to the workers and automated and ii) the decision-making tools being well known and strictly applied. Training was thus adjusted.
Keywords: Bias, expert, high risk industry, stress.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 66760 Creative Skills Supported by Multidisciplinary Learning: Case Innovation Course at the Seinäjoki University of Applied Sciences
Authors: Satu Lautamäki
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This paper presents findings from a multidisciplinary course (bachelor level) implemented at Seinäjoki University of Applied Sciences, Finland. The course aims to develop innovative thinking of students, by having projects given by companies, using design thinking methods as a tool for creativity and by integrating students into multidisciplinary teams working on the given projects. The course is obligatory for all first year bachelor students across four faculties (business and culture, food and agriculture, health care and social work, and technology). The course involves around 800 students and 30 pedagogical coaches, and it is implemented as an intensive one-week course each year. The paper discusses the pedagogy, structure and coordination of the course. Also, reflections on methods for the development of creative skills are given. Experts in contemporary, global context often work in teams, which consist of people who have different areas of expertise and represent various professional backgrounds. That is why there is a strong need for new training methods where multidisciplinary approach is at the heart of learning. Creative learning takes place when different parties bring information to the discussion and learn from each other. When students in different fields are looking for professional growth for themselves and take responsibility for the professional growth of other learners, they form a mutual learning relationship with each other. Multidisciplinary team members make decisions both individually and collectively, which helps them to understand and appreciate other disciplines. Our results show that creative and multidisciplinary project learning can develop diversity of knowledge and competences, for instance, students’ cultural knowledge, teamwork and innovation competences, time management and presentation skills as well as support a student’s personal development as an expert. It is highly recommended that higher education curricula should include various studies for students from different study fields to work in multidisciplinary teams.
Keywords: Multidisciplinary learning, creative skills, innovative thinking, project-based learning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 52559 Ethically Integrating Robots in Elder Care
Authors: Suresh Lokiah, Samarth Suresh, Yashaswini Vismaya, Sudha Jamthe
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The emerging trend of integrating robots into elderly care, particularly for assisting patients with dementia, holds the potential to greatly transform the sector. Assisted living facilities, which house a significant number of elderly individuals and dementia patients, constantly strive to engage their residents in stimulating activities. However, due to staffing shortages, they often rely on volunteers to introduce new activities. Despite the availability of social interaction, the residents are in desperate need of additional support. Robots designed for elder care are categorized based on their design and functionality. These categories include Companion Robots, Telepresence Robots, Health Monitoring Robots, and Rehab Robots. However, the integration of such robots raises significant ethical concerns, notably regarding privacy, autonomy, and the risk of dehumanization. Privacy issues arise when robots need to continually monitor patient activities. There is also a risk of patients becoming overly dependent on these robots, potentially undermining patients’ autonomy. Furthermore, the replacement of human touch with robotic interaction can lead to the dehumanization of care. This positional paper delves into the ethical considerations of incorporating robotic assistance in eldercare. It proposes a series of guidelines and strategies to ensure the ethical deployment of these robots. These guidelines suggest involving patients in the design and development process of robots and emphasize the critical need for human oversight to respect the dignity and rights of elderly and dementia patients. The paper also recommends implementing robust privacy measures, including secure data transmission and data anonymization. In conclusion, this paper offers a thorough examination of the ethical implications of using robotic assistance in elder care. It provides a strategic roadmap to ensure this technology is utilized ethically, thereby maximizing its potential benefits and minimizing any potential harm.
Keywords: Robots for eldercare, ethics, human-robot interaction, assisted living.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3758 An Introduction to the Concept of Environmental Audit: Indian Context
Authors: Pradip Kumar Das
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Phenomenal growth of population and industry exploits the environment in varied ways. Consequently, the greenhouse effect and other allied problems are threatening mankind the world over. Protection and up gradation of environment have, therefore, become the prime necessity all of mankind for the sustainable development of environment. People in humbler walks of life including the corporate citizens have become aware of the impacts of environmental pollution. Governments of various nations have entered the picture with laws and regulations to correct and cure the effects of present and past violations of environmental practices and to obstruct future violations of good environmental disciplines. In this perspective, environmental audit directs verification and validation to ensure that the various environmental laws are complied with and adequate care has been taken towards environmental protection and preservation. The discipline of environmental audit has experienced expressive development throughout the world. It examines the positive and negative effects of the activities of an enterprise on environment and provides an in-depth study of the company processes any growth in realizing long-term strategic goals. Environmental audit helps corporations assess its achievement, correct deficiencies and reduce risk to the health and improving safety. Environmental audit being a strong management tool should be administered by industry for its own self-assessment. Developed countries all over the globe have gone ahead in environment quantification; but unfortunately, there is a lack of awareness about pollution and environmental hazards among the common people in India. In the light of this situation, the conceptual analysis of this study is concerned with the rationale of environmental audit on the industry and the society as a whole and highlights the emerging dimensions in the auditing theory and practices. A modest attempt has been made to throw light on the recent development in environmental audit in developing nations like India and the problems associated with the implementation of environmental audit. The conceptual study also reflects that despite different obstacles, environmental audit is becoming an increasing aspect within the corporate sectors in India and lastly, conclusions along with suggestions have been offered to improve the current scenario.
Keywords: Environmental audit, environmental hazards, environmental laws, environmental protection, environmental preservation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 271557 A Multi-Criteria Decision Method for the Recruitment of Academic Personnel Based on the Analytical Hierarchy Process and the Delphi Method in a Neutrosophic Environment
Authors: Antonios Paraskevas, Michael Madas
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For a university to maintain its international competitiveness in education, it is essential to recruit qualitative academic staff as it constitutes its most valuable asset. This selection demonstrates a significant role in achieving strategic objectives, particularly by emphasizing a firm commitment to exceptional student experience and innovative teaching and learning practices of high quality. In this vein, the appropriate selection of academic staff establishes a very important factor of competitiveness, efficiency and reputation of an academic institute. Within this framework, our work demonstrates a comprehensive methodological concept that emphasizes on the multi-criteria nature of the problem and on how decision makers could utilize our approach in order to proceed to the appropriate judgment. The conceptual framework introduced in this paper is built upon a hybrid neutrosophic method based on the Neutrosophic Analytical Hierarchy Process (N-AHP), which uses the theory of neutrosophy sets and is considered suitable in terms of significant degree of ambiguity and indeterminacy observed in decision-making process. To this end, our framework extends the N-AHP by incorporating the Neutrosophic Delphi Method (N-DM). By applying the N-DM, we can take into consideration the importance of each decision-maker and their preferences per evaluation criterion. To the best of our knowledge, the proposed model stands out within the realm of related literature as one of the few studies to employ N-DM in the context of academic staff selection. As a case study, it was decided to use our method to a real problem of academic personnel selection, having as main goal to enhance the algorithm proposed in previous scholars’ work, and thus taking care of the inherit ineffectiveness which becomes apparent in traditional multi-criteria decision-making methods when dealing with situations alike. As a further result, we prove that our method demonstrates greater applicability and reliability when compared to other decision models.
Keywords: Analytical Hierarchy Process, Delphi Method, Multi-criteria decision making methods, neutrosophic set theory, personnel recruitment.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4056 Enhancing Learning for Research Higher Degree Students
Authors: Jenny Hall, Alison Jaquet
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Universities’ push toward the production of high quality research is not limited to academic staff and experienced researchers. In this environment of research rich agendas, Higher Degree Research (HDR) students are increasingly expected to engage in the publishing of good quality papers in high impact journals. IFN001: Advanced Information Research Skills (AIRS) is a credit bearing mandatory coursework requirement for Queensland University of Technology (QUT) doctorates. Since its inception in 1989, this unique blended learning program has provided the foundations for new researchers to produce original and innovative research. AIRS was redeveloped in 2012, and has now been evaluated with reference to the university’s strategic research priorities. Our research is the first comprehensive evaluation of the program from the learner perspective. We measured whether the program develops essential transferrable skills and graduate capabilities to ensure best practice in the areas of publishing and data management. In particular, we explored whether AIRS prepares students to be agile researchers with the skills to adapt to different research contexts both within and outside academia. The target group for our study consisted of HDR students and supervisors at QUT. Both quantitative and qualitative research methods were used for data collection. Gathering data was by survey and focus groups with qualitative responses analyzed using NVivo. The results of the survey show that 82% of students surveyed believe that AIRS assisted their research process and helped them learn skills they need as a researcher. The 18% of respondents who expressed reservation about the benefits of AIRS were also examined to determine the key areas of concern. These included trends related to the timing of the program early in the candidature and a belief among some students that their previous research experience was sufficient for postgraduate study. New insights have been gained into how to better support HDR learners in partnership with supervisors and how to enhance learning experiences of specific cohorts, including international students and mature learners.
Keywords: Data management, enhancing learning experience, publishing, research higher degree students.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 147755 A 3D Numerical Environmental Modeling Approach for Assessing Transport of Spilled Oil in Porous Beach Conditions under a Meso-Scale Tank Design
Authors: J. X. Dong, C. J. An, Z. Chen, E. H. Owens, M. C. Boufadel, E. Taylor, K. Lee
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Shorelines are vulnerable to significant environmental impacts from oil spills. Stranded oil can cause potential short- to long-term detrimental effects along beaches that include injuries to ecosystem, socio-economic and cultural resources. In this study, a three-dimensional (3D) numerical modeling approach is developed to evaluate the fate and transport of spilled oil for hypothetical oiled shoreline cases under various combinations of beach geomorphology and environmental conditions. The developed model estimates the spatial and temporal distribution of spilled oil for the various test conditions, using the finite volume method and considering the physical transport (dispersion and advection), sinks, and sorption processes. The model includes a user-friendly interface for data input on variables such as beach properties, environmental conditions, and physical-chemical properties of spilled oil. An experimental meso-scale tank design was used to test the developed model for dissolved petroleum hydrocarbon within shorelines. The simulated results for effects of different sediment substrates, oil types, and shoreline features for the transport of spilled oil are comparable to that obtained with a commercially available model. Results show that the properties of substrates and the oil removal by shoreline effects have significant impacts on oil transport in the beach area. Sensitivity analysis, through the application of the one-step-at-a-time method (OAT), for the 3D model identified hydraulic conductivity as the most sensitive parameter. The 3D numerical model allows users to examine the behavior of oil on and within beaches, assess potential environmental impacts, and provide technical support for decisions related to shoreline clean-up operations.
Keywords: dissolved petroleum hydrocarbons, environmental multimedia model, finite volume method, FVM, sensitivity analysis, total petroleum hydrocarbons, TPH
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 52454 Relocation of Livestocks in Rural of Canakkale Province Using Remote Sensing and GIS
Authors: Melis Inalpulat, Levent Genc, Unal Kizil, Tugce Civelek
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Livestock production is one of the most important components of rural economy. Due to the urban expansion, rural areas close to expanding cities transform into urban districts during the time. However, the legislations have some restrictions related to livestock farming in such administrative units since they tend to create environmental concerns like odor problems resulted from excessive manure production. Therefore, the existing animal operations should be moved from the settlement areas. This paper was focused on determination of suitable lands for livestock production in Canakkale province of Turkey using remote sensing (RS) data and GIS techniques. To achieve the goal, Formosat 2 and Landsat 8 imageries, Aster DEM, and 1:25000 scaled soil maps, village boundaries, and village livestock inventory records were used. The study was conducted using suitability analysis which evaluates the land in terms of limitations and potentials, and suitability range was categorized as Suitable (S) and Non-Suitable (NS). Limitations included the distances from main and crossroads, water resources and settlements, while potentials were appropriate values for slope, land use capability and land use land cover status. Village-based S land distribution results were presented, and compared with livestock inventories. Results showed that approximately 44230 ha area is inappropriate because of the distance limitations for roads and etc. (NS). Moreover, according to LULC map, 71052 ha area consists of forests, olive and other orchards, and thus, may not be suitable for building such structures (NS). In comparison, it was found that there are a total of 1228 ha S lands within study area. The village-based findings indicated that, in some villages livestock production continues on NS areas. Finally, it was suggested that organized livestock zones may be constructed to serve in more than one village after the detailed analysis complemented considering also political decisions, opinion of the local people, etc.Keywords: GIS, livestock, LULC, remote sensing, suitable lands.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 132453 Spatial Data Science for Data Driven Urban Planning: The Youth Economic Discomfort Index for Rome
Authors: Iacopo Testi, Diego Pajarito, Nicoletta Roberto, Carmen Greco
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Today, a consistent segment of the world’s population lives in urban areas, and this proportion will vastly increase in the next decades. Therefore, understanding the key trends in urbanization, likely to unfold over the coming years, is crucial to the implementation of sustainable urban strategies. In parallel, the daily amount of digital data produced will be expanding at an exponential rate during the following years. The analysis of various types of data sets and its derived applications have incredible potential across different crucial sectors such as healthcare, housing, transportation, energy, and education. Nevertheless, in city development, architects and urban planners appear to rely mostly on traditional and analogical techniques of data collection. This paper investigates the prospective of the data science field, appearing to be a formidable resource to assist city managers in identifying strategies to enhance the social, economic, and environmental sustainability of our urban areas. The collection of different new layers of information would definitely enhance planners' capabilities to comprehend more in-depth urban phenomena such as gentrification, land use definition, mobility, or critical infrastructural issues. Specifically, the research results correlate economic, commercial, demographic, and housing data with the purpose of defining the youth economic discomfort index. The statistical composite index provides insights regarding the economic disadvantage of citizens aged between 18 years and 29 years, and results clearly display that central urban zones and more disadvantaged than peripheral ones. The experimental set up selected the city of Rome as the testing ground of the whole investigation. The methodology aims at applying statistical and spatial analysis to construct a composite index supporting informed data-driven decisions for urban planning.
Keywords: Data science, spatial analysis, composite index, Rome, urban planning, youth economic discomfort index.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 90052 The Role of Knowledge Management in Innovation: Spanish Evidence
Authors: María Jesús Luengo-Valderrey, Mónica Moso-Díez
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In the knowledge-based economy, innovation is considered essential in order to achieve survival and growth in organizations. On the other hand, knowledge management is currently understood as one of the keys to innovation process. Both factors are generally admitted as generators of competitive advantage in organizations. Specifically, activities on R&D&I and those that generate internal knowledge have a positive influence in innovation results. This paper examines this effect and if it is similar or not is what we aimed to quantify in this paper. We focus on the impact that proportion of knowledge workers, the R&D&I investment, the amounts destined for ICTs and training for innovation have on the variation of tangible and intangibles returns for the sector of high and medium technology in Spain. To do this, we have performed an empirical analysis on the results of questionnaires about innovation in enterprises in Spain, collected by the National Statistics Institute. First, using clusters methodology, the behavior of these enterprises regarding knowledge management is identified. Then, using SEM methodology, we performed, for each cluster, the study about cause-effect relationships among constructs defined through variables, setting its type and quantification. The cluster analysis results in four groups in which cluster number 1 and 3 presents the best performance in innovation with differentiating nuances among them, while clusters 2 and 4 obtained divergent results to a similar innovative effort. However, the results of SEM analysis for each cluster show that, in all cases, knowledge workers are those that affect innovation performance most, regardless of the level of investment, and that there is a strong correlation between knowledge workers and investment in knowledge generation. The main findings reached is that Spanish high and medium technology companies improve their innovation performance investing in internal knowledge generation measures, specially, in terms of R&D activities, and underinvest in external ones. This, and the strong correlation between knowledge workers and the set of activities that promote the knowledge generation, should be taken into account by managers of companies, when making decisions about their investments for innovation, since they are key for improving their opportunities in the global market.
Keywords: High and medium technology sector, innovation, knowledge management, Spanish companies.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 219851 Third Places for Social Sustainability: A Planning Framework Based on Local and International Comparisons
Authors: Z. Goosen, E. J. Cilliers
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Social sustainability, as an independent perspective of sustainable development, has gained some acknowledgement, becoming an important aspect in sustainable urban planning internationally. However, limited research aiming at promoting social sustainability within urban areas exists within the South African context. This is mainly due to the different perspectives of sustainable development (e.g., Environmental, Economic, and Social) not being equally prioritized by policy makers and supported by implementation strategies, guidelines, and planning frameworks. The enhancement of social sustainability within urban areas relies on urban dweller satisfaction and the quality of urban life. Inclusive cities with high-quality public spaces are proposed within this research through implementing the third place theory. Third places are introduced as any place other than our homes (first place) and work (second place) and have become an integrated part of sustainable urban planning. As Third Places consist of every place 'in between', the approach has taken on a large role of the everyday life of city residents, and the importance of planning for such places can only be measured through identifying and highlighting the social sustainability benefits thereof. The aim of this research paper is to introduce third place planning within the urban area to ultimately enhance social sustainability. Selected background planning approaches influencing the planning of third places will briefly be touched on, as the focus will be placed on the social sustainability benefits provided through third place planning within an urban setting. The study will commence by defining and introducing the concept of third places within urban areas as well as a discussion on social sustainability, acting as one of the three perspectives of sustainable development. This will gain the researcher an improved understanding on social sustainability in order for the study to flow into an integrated discussion of the benefits Third places provide in terms of social sustainability and the impact it has on improved quality of life within urban areas. Finally, a visual case study comparison of local and international examples of third places identified will be illustrated. These international case studies will contribute towards the conclusion of this study where a local gap analysis will be formulated, based on local third place evidence and international best practices in order to formulate a strategic planning framework on improving social sustainability through third place planning within the local South African context.
Keywords: Planning benefits, social sustainability, third places, urban area.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 158850 Brazilian Constitution and the Fundamental Right to Sanitation
Authors: Michely Vargas Delpupo, José Geraldo Romanello Bueno
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The right to basic sanitation, was elevated to the category of fundamental right by the Constitution of 1988 to protect the ecologically balanced environment, ensuring social rights to health and adequate housing and put the dignity of the human person as the foundation of the Brazilian Democratic State. Before their essentiality to humans, this article seeks to understand why universal access to basic sanitation is a goal so difficult to achieve in Brazil. Therefore, this research uses the deductive and analytical method. Given the nature of the research literature, research techniques were centered in specialized books on the subject, journals, theses and dissertations, laws, relevant law case and raising social indicators relating to the theme. The relevance of the topic stems, among other things, the fact that sanitation services are essential for a dignified life, i.e., everyone is entitled to the maintenance of the necessary existence conditions are satisfied. However, the effectiveness of this right is undermined in society, since Brazil has huge deficit in sanitation services, denying thus a worthy life to most of the population. Thus, it can be seen that the provision of water and sewage services in Brazil is still characterized by a large imbalance, since the municipalities with lower population index have greater disability in the sanitation service. The truth is that the precariousness of water and sewage services in Brazil is still very concentrated in the North and Northeast regions, limiting the effective implementation of the Law 11.445/2007 in the country. Therefore, there is urgent need for a positive service by the State in the provision of sanitation services in order to prevent and control disease, improve quality of life and productivity of individuals, besides preventing contamination of water resources. More than just social and economic necessity, there is a government duty to implement such services. In this sense, given the current scenario, to achieve universal access to basic sanitation imposes many hurdles. These are mainly in the field of properly formulated and implemented public policies, i.e., it requires an excellent institutional organization, management services, strategic planning, social control, in order to provide answers to complex challenges.Keywords: Fundamental rights, sanitation, universal access.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 163249 Trainer Aircraft Selection Using Preference Analysis for Reference Ideal Solution (PARIS)
Authors: C. Ardil
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This article presents a multiple criteria evaluation for a trainer aircraft selection problem using "preference analysis for reference ideal solution (PARIS)” approach. The available relevant literature points to the use of multiple criteria decision making analysis (MCDMA) methods for the problem of trainer aircraft selection, which often involves conflicting multiple criteria. Therefore, this MCDMA study aims to propose a robust systematic integrated framework focusing on the trainer aircraft selection problem. For this purpose, an integrated preference analysis approach based the mean weight and entropy weight procedures with PARIS, and TOPSIS was used for a MCDMA compensating solution. In this study, six trainer aircraft alternatives were evaluated according to six technical decision criteria, and data were collected from the current relevant literature. As a result, the King Air C90GTi alternative was identified as the most suitable trainer aircraft alternative. In order to verify the stability and accuracy of the results obtained, comparisons were made with existing MCDMA methods during the sensitivity and validity analysis process.The results of the application were further validated by applying the comparative analysis-based PARIS, and TOPSIS method. The proposed integrated MCDMA systematic structure is also expected to address the issues encountered in the aircraft selection process. Finally, the analysis results obtained show that the proposed MCDMA method is an effective and accurate tool that can help analysts make better decisions.
Keywords: aircraft, trainer aircraft selection, multiple criteria decision making, multiple criteria decision making analysis, mean weight, entropy weight, MCDMA, PARIS, TOPSIS
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 43048 The Role of Acoustical Design within Architectural Design in the Early Design Phase
Authors: O. Wright, N. Perkins, M. Donn, M. Halstead
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This research responded to anecdotal evidence that suggested inefficiencies within the Architect and Acoustician relationship may lead to ineffective acoustic design decisions. The acoustician spoken to believed that he was approached too late in the design phase. The approached architect valued acoustical qualities, yet, struggled to interpret common measurement parameters. The preliminary investigation of these opinions indicated a gap in the current New Zealand Architectural discourse and currently informs the creation of a 2016 Master of Architecture (Prof) thesis research. Little meaningful information about acoustic intervention in the early design phase could be found from past literature. In the information that was sourced, authors focus on software as an incorporation tool without investigating why the flaws in the relationship originally exist. To further explore this relationship, a survey was designed. It underwent three phases to ensure its consistency, and was delivered to a group of 51 acousticians from one international Acoustics company. The results were then separated between New Zealand and off-shore to identify trends. The survey results suggest that 75% of acousticians meet the architect less than 5 times per project. Instead of regular contact, a mediated method is adopted though a mix of telecommunication and written reports. Acousticians tend to be introduced later into New Zealand building project than the corresponding off-shore building. This delay corresponds to an increase in remedial action for each of the building types in the survey except Auditoria and Office Buildings. 31 participants have had their specifications challenged by an architect. Furthermore, 71% of the acousticians believe that architects do not have the knowledge to understand why the acoustic specifications are in place. The issues raised in this investigation align to the colloquial evidence expressed by the two consultants. It identifies a larger gap in the industry were acoustics is remedially treated rather than identified as a possible design driver. Further research through design is suggested to understand the role of acoustics within architectural design and potential tools for its inclusion during, not after, the design process.Keywords: Architectural acoustics, early-design, interdisciplinary communication, remedial response.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 143747 Tender Systems and Processes within the Mauritian Construction Industry: Investigating the Predominance of International Firms and the Lack of Absorptive Capacity in Local Firms
Authors: K. Appasamy, P. Paul
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Mauritius, a developing small-island-state, is facing a recession which is having a considerable economic impact particularly on its construction sector. Further, the presence of foreign entities, both as companies and workers, within this sector is creating a very competitive environment for local firms. This study investigates the key drivers that allow foreign firms to participate in this sector, in particular looking at the international and local tender processes, and the capacity of local industry to participate. This study also looks at how the current set up may hinder the latter’s involvement. The methodology used included qualitative semi-structured interviews conducted with established foreign companies, local companies, and public bodies. Study findings indicate: there is an adequate availability of professional skills and expertise within the Mauritian construction industry but a lack of skilled labour especially at the operative level; projects awarded to foreign firms are either due to their uniqueness and hence lack of local knowledge, or due to foreign firms having lower tender bids; tendering systems and processes are weak, including monitoring and enforcement, which encourages corruption and favouritism; a high lev el of ignorance of this sector’s characteristics and opportunities exists amongst the local population; local entities are very profit oriented and have short term strategies that discourage long term investment in workforce training and development; but most importantly, stakeholders do not grasp the importance of encouraging youngsters to join this sector, they have no long term vision, and there is a lack of mutual involvement and collaboration between them. Although local industry is highly competent, qualified and experienced, the tendering and procurement systems in Mauritius are not conducive enough to allow for effective strategic planning and an equitable allocation of projects during an economic downturn so that the broadest spread of stakeholders’ benefit. It is of utmost importance that all sector and government entities collaborate to formulate strategies and reforms on tender processes and capacity building to ensure fairness and continuous growth of this sector in Mauritius.Keywords: Construction industry, tender process, international firms, local capacity, Mauritius.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 192246 Price Prediction Line, Investment Signals and Limit Conditions Applied for the German Financial Market
Authors: Cristian Păuna
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In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.
Keywords: Algorithmic trading, automated investment system, DAX Deutscher Aktienindex.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 69645 Miniature Fast Steering Mirrors for Space Optical Communication on NanoSats and CubeSats
Authors: Sylvain Chardon, Timotéo Payre, Hugo Grardel, Yann Quentel, Mathieu Thomachot, Gérald Aigouy, Frank Claeyssen
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With the increasing digitalization of society, access to data has become vital and strategic for individuals and nations. In this context, the number of satellite constellation projects is growing drastically worldwide and is a next-generation challenge of the New Space industry. So far, existing satellite constellations have been using radio frequencies (RF) for satellite-to-ground communications, inter-satellite communications, and feeder link communication. However, RF has several limitations, such as limited bandwidth and low protection level. To address these limitations, space optical communication will be the new trend, addressing both very high-speed and secured encrypted communication. Fast Steering Mirrors (FSM) are key components used in optical communication as well as space imagery and for a large field of functions such as Point Ahead Mechanisms (PAM), Raster Scanning, Beam Steering Mirrors (BSM), Fine Pointing Mechanisms (FPM) and Line of Sight stabilization (LOS). The main challenges of space FSM development for optical communication are to propose both a technology and a supply chain relevant for high quantities New Space approach, which requires secured connectivity for high-speed internet, Earth planet observation and monitoring, and mobility applications. CTEC proposes a mini-FSM technology offering a stroke of +/-6 mrad and a resonant frequency of 1700 Hz, with a mass of 50 g. This FSM mechanism is a good candidate for giant constellations and all applications on board NanoSats and CubeSats, featuring a very high level of miniaturization and optimized for New Space high quantities cost efficiency. The use of piezo actuators offers a high resonance frequency for optimal control, with almost zero power consumption in step and stay pointing, and with very high-reliability figures > 0,995 demonstrated over years of recurrent manufacturing for Optronics applications at CTEC.
Keywords: Fast steering mirror, feeder link, line of sight stabilization, optical communication, pointing ahead mechanism, raster scan.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17944 Usage of Internet Technology in Financial Education and Financial Inclusion by Students of Economics Universities
Authors: B. Frączek
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The paper analyses the usage of the Internet by university students in Visegrad Countries (4V Countries) who study economic fields in their formal and informal financial education and captures the areas of untapped potential of Internet in educational processes. Higher education and training, technological readiness, and the financial market development are in the group of pillars, that are key for efficiency driven economies. These three pillars have become an inspiration to the research on using the Internet in the financial education among economic university students as the group of the best educated people in finance. The financial education is a process that allows for improving the level of financial literacy. In turn, the financial literacy it is the set of financial knowledge, skills, awareness and patterns influencing the financial decisions. The level of financial literacy influences the level of financial well-being of individuals, determines the scale of saving of households and at the same time gives the greater chance for sustainable and more predictable development of the financial market with the positive impact on economy. The financial literacy is necessary for each group of society but its appropriate level is desirable especially in respect of economics students as future participants of financial markets as well as the experts and advisors in financial decision making. The low level of financial literacy is the great problem of many target groups in both developing and developed countries and the financial education is seen as the best way of improving this situation. Also the financial inclusion plays the special role in enhancing the level of financial literacy in the aspect of education by practice as well as due to interrelation between level of financial literacy and degree of financial inclusion. Despite many initiatives under financial education, the level of financial literacy is still very low. Scientists still search for new ways of solving this problem. One of the proposal is more effective usage of the new technology in financial education, especially the Internet, because of the growing popularity of e-learning and the increasing number of Internet users, especially among young people who are called the Generation Net. Due to special role of the university students studying the economics fields for the future financial markets, students of four universities from Visegrad Countries (Czech Republic, Hungary, Poland and Slovakia) were invited to participate in the survey. The aim of the article is to present the level and ways of using the Internet technology in financial education and indicating the so far unused or underused opportunities.
Keywords: Financial education, financial inclusion, financial literacy, usage of Internet in education.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 154043 Enhancing Self-Assessment and Management Potentials by Modifying Option Selections on Hartman’s Personality Test
Authors: Daniel L. Clinciu, Ikrom Abdulaev, Brian D. Oscar
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Various personality profile tests are used to identify personality strengths and limits in individuals, helping both individuals and managers to optimize work and team effort in organizations. One such test, the Hartman’s personality profile, emphasizes four driving "core motives" influenced or affected by both strengths and limitations classified into four colors: Red - motivated by power; Blue - discipline and loyalty; White - peace; and Yellow – fun loving. Two shortcomings of Hartman’s personality test are noted; 1) only one selection for every item / situation allowed and 2) selection of an item / option even if not applicable. A test taker may be as much nurturing as he is opinionated but since “opinionated” seems less attractive the individual would likely select nurturing, causing a misidentification in personality strengths and limits. Since few individuals have a “strong” personality, it is difficult to assess their true personality strengths and limits allowing only one choice or requiring unwanted choices, undermining the potential of the test. We modified Hartman’s personality profile allowing test takers to make either multiple choices for any item / situation or leave them blank if applicable. Sixty-eight participants (38 males and 30 females), 17 - 49 years old, from countries in Asia, Europe, N. America, CIS, Africa, Latin America, and Oceania were included. 58 participants (85.3%) reported the modified test, allowing multiple / no choices better identified their personality strengths and limits, while 10 participants (14.7%) expressed the original (one choice version) was sufficient. The overall results show that our modified test enhanced the identification and balance of core personalities’ strengths and limits, aiding test takers, managers and organizations to better assess individual characteristics, particularly useful in making task-related, teamwork, and management decisions.
Keywords: Organizational behavior, personality tests, personality limitations, personality strengths, task management, team work.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 273342 Using Business Intelligence Capabilities to Improve the Quality of Decision-Making: A Case Study of Mellat Bank
Authors: Jalal Haghighat Monfared, Zahra Akbari
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Today, business executives need to have useful information to make better decisions. Banks have also been using information tools so that they can direct the decision-making process in order to achieve their desired goals by rapidly extracting information from sources with the help of business intelligence. The research seeks to investigate whether there is a relationship between the quality of decision making and the business intelligence capabilities of Mellat Bank. Each of the factors studied is divided into several components, and these and their relationships are measured by a questionnaire. The statistical population of this study consists of all managers and experts of Mellat Bank's General Departments (including 190 people) who use commercial intelligence reports. The sample size of this study was 123 randomly determined by statistical method. In this research, relevant statistical inference has been used for data analysis and hypothesis testing. In the first stage, using the Kolmogorov-Smirnov test, the normalization of the data was investigated and in the next stage, the construct validity of both variables and their resulting indexes were verified using confirmatory factor analysis. Finally, using the structural equation modeling and Pearson's correlation coefficient, the research hypotheses were tested. The results confirmed the existence of a positive relationship between decision quality and business intelligence capabilities in Mellat Bank. Among the various capabilities, including data quality, correlation with other systems, user access, flexibility and risk management support, the flexibility of the business intelligence system was the most correlated with the dependent variable of the present research. This shows that it is necessary for Mellat Bank to pay more attention to choose the required business intelligence systems with high flexibility in terms of the ability to submit custom formatted reports. Subsequently, the quality of data on business intelligence systems showed the strongest relationship with quality of decision making. Therefore, improving the quality of data, including the source of data internally or externally, the type of data in quantitative or qualitative terms, the credibility of the data and perceptions of who uses the business intelligence system, improves the quality of decision making in Mellat Bank.
Keywords: Business intelligence, business intelligence capability, decision making, decision quality.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1384