Search results for: Business process adaptation
5704 Quality Assurance and Effectiveness in Kurdistan Higher Education: The Reform Process
Authors: Selar Othman Ali
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Implementing quality assurance in higher education establishments is the main focus of the reform process currently undertaken by the Ministry of Higher Education and Scientific Research in the Kurdistan Region of Iraq. The reform agenda has involved attempts to improve academic quality and management processes in universities, technical institutions and colleges. The central challenge for the reform process is to produce change in higher education in a region where administration is described as centralized and bureaucratic. To make these changes, there should be a well-designed plans and follow up processes in order to monitor progress and develop responses to obstacles. Lack of skills, resources, political dilemmas, poor motivation, and readiness to face the consequences of change are factors which will determine the success of the reform process.
Keywords: Higher Education, Kurdistan-Iraq, Quality Assurance
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16415703 Fault Detection of Drinking Water Treatment Process Using PCA and Hotelling's T2 Chart
Authors: Joval P George, Dr. Zheng Chen, Philip Shaw
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This paper deals with the application of Principal Component Analysis (PCA) and the Hotelling-s T2 Chart, using data collected from a drinking water treatment process. PCA is applied primarily for the dimensional reduction of the collected data. The Hotelling-s T2 control chart was used for the fault detection of the process. The data was taken from a United Utilities Multistage Water Treatment Works downloaded from an Integrated Program Management (IPM) dashboard system. The analysis of the results show that Multivariate Statistical Process Control (MSPC) techniques such as PCA, and control charts such as Hotelling-s T2, can be effectively applied for the early fault detection of continuous multivariable processes such as Drinking Water Treatment. The software package SIMCA-P was used to develop the MSPC models and Hotelling-s T2 Chart from the collected data.
Keywords: Principal component analysis, hotelling's t2 chart, multivariate statistical process control, drinking water treatment.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27855702 Coping with the Rapidity of Information Technology Changes – A Comparison Reviewon Current Practices
Authors: Nurshuhada Zainon, Hafez Salleh, Faizul A. Rahim
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Information technology managers nowadays are facing with tremendous pressure to plan, implement, and adopt new technology solution due to the rapidity of technology changes. Resulted from a lack of study that have been done in this topic, the aim of this paper is to provide a comparison review on current tools that are currently being used in order to respond to technological changes. The study is based on extensive literature review of published works with majority of them are ranging from 2000 to the first part of 2011. The works were gathered from journals, books, and other information sources available on the Web. Findings show that, each tools has different focus and none of the tools are providing a framework in holistic view, which should include technical, people, process, and business environment aspect. Hence, this result provides potential information about current available tools that IT managers could use to manage changes in technology. Further, the result reveals a research gap in the area where the industries a short of such framework.Keywords: Information technology, IT adaption, IT revolution, IT trends
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17235701 Manufacturing Process and Cost Estimation through Process Detection by Applying Image Processing Technique
Authors: Chalakorn Chitsaart, Suchada Rianmora, Noppawat Vongpiyasatit
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In order to reduce the transportation time and cost for direct interface between customer and manufacturer, the image processing technique has been introduced in this research where designing part and defining manufacturing process can be performed quickly. A3D virtual model is directly generated from a series of multi-view images of an object, and it can be modified, analyzed, and improved the structure, or function for the further implementations, such as computer-aided manufacturing (CAM). To estimate and quote the production cost, the user-friendly platform has been developed in this research where the appropriate manufacturing parameters and process detections have been identified and planned by CAM simulation.
Keywords: Image processing technique, Feature detections, Surface registrations, Capturing multi-view images, Production costs, and Manufacturing processes.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19755700 European Radical Right Parties as Actors in Securitization of Migration
Authors: Mehmet Gökay Özerim
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This study reveals that anti-immigrant policies in Europe result from a process of securitization, and that, within this process, radical right parties have been formulating discourses and approaches through a construction process by using some common security themes. These security themes can be classified as national security, economic security, cultural security and internal security. The frequency with which radical right parties use these themes may vary according to the specific historical, social and cultural characteristics of a particular country.
Keywords: European Union, International Migration, Radical Right Parties, Securitization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 34125699 Situation-based Knowledge Presentation for Mobile Workers
Authors: Alessandra Agostini, Roberto Boselli, Flavio De Paoli, Riccardo Dondi
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The work presented in this paper focus on Knowledge Management services enabling CSCW (Computer Supported Cooperative Work) applications to provide an appropriate adaptation to the user and the situation in which the user is working. In this paper, we explain how a knowledge management system can be designed to support users in different situations exploiting contextual data, users' preferences, and profiles of involved artifacts (e.g., documents, multimedia files, mockups...). The presented work roots in the experience we had in the MILK project and early steps made in the MAIS project.Keywords: Information Management Systems, InformationRetrieval, Knowledge Management, Mobile CommunicationSystems.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15605698 Binary Programming for Manufacturing Material and Manufacturing Process Selection Using Genetic Algorithms
Authors: Saleem Z. Ramadan
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The material selection problem is concerned with the determination of the right material for a certain product to optimize certain performance indices in that product such as mass, energy density, and power-to-weight ratio. This paper is concerned about optimizing the selection of the manufacturing process along with the material used in the product under performance indices and availability constraints. In this paper, the material selection problem is formulated using binary programming and solved by genetic algorithm. The objective function of the model is to minimize the total manufacturing cost under performance indices and material and manufacturing process availability constraints.Keywords: Optimization, Material selection, Process selection, Genetic algorithm.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15975697 Critical Factors to Company Success in the Construction Industry
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Achieving success is a highly critical issue for the companies to survive in a competitive business environment. The construction industry is also an area where there is strong competition due to a large number of construction contractors. There have been many factors such as qualified employees, quality workmanship and financial management that can lead to company success in the construction industry. The aim of this study was to investigate the critical factors leading to construction company success. Within this context, a survey was carried out among 40 Turkish construction companies which are located in the Northwest region of Turkey. In this survey, top-level managers and owners of the companies were interviewed. The interviews took place over a five month period between January and May 2007. Finally, the ranking of the critical success factors has been determined by using the Simple Multi Attribute Rating Technique (SMART). Based on the results, business management, financial conditions and owner/manager characteristics were determined as the most important factors to company success.Keywords: Company success, construction, organization, success factors.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 98095696 Management Challenges and Product Quality of Fish Farms in Greece
Authors: S. Anastasiou, C. Nathanailides, P. Logothetis, G. Kanlis
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The purpose of the present work is to review some data for the management challenges that the aquaculture industry in Greece is currently facing. The results indicate that Greek aquaculture fish farms apply Human Resources Management (HRM) practices which can increase motivation, commitment and job satisfaction of their personnel. In turn, these practices can increase the productivity of the business. The Greek fish farms appear to invest in research and technological innovation with a good record in research activities and the generation of patents. Interestingly, the results of the present work were carried out during the period of the recent economic crisis in Greece. Several sectors of the Greek economy were severely affected by the financial problems of the Greek government and the Greek banks. Under the adverse economical conditions created by the Greek economic crisis, even the Greek aquaculture industry, which historically is considered as a thriving national exporting business sector, experienced harsh economic and market conditions. As a result of the global, European and national economic crisis, consumption of fish dropped while companies had to hold most of their stocked fish in order to regulated the flow to the market and the price. This occurred at a time where Banks in Greece had their own financial crisis – banking crisis - which resulted in limited access to lending for the all business sectors of the national economy including the Greek aquaculture industry. In spite of these economic conditions, the Greek aquaculture industry, after a series of mergers and acquisitions, has now stabilized production and exhibits very good prospects for future growth. Evidently, the firms had to cut salaries and on some occasions even pay their staff in arrears. Nevertheless, the results presented in this paper indicate that during the economic crisis, the surveyed fish farms maintained their HRM practices, investing in their human capital and technological input. In fact, human capital and technological input are the ticket for future success of companies in any business sector.
Keywords: Aquaculture, Human Resources Management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 28415695 Performance Evaluation of Improved Ball End Magnetorheological Finishing Process
Authors: Anant Kumar Singh, Sunil Jha, Pulak M. Pandey
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A novel nanofinishing process using improved ball end magnetorheological (MR) finishing tool was developed for finishing of flat as well as 3D surfaces of ferromagnetic and non ferromagnetic workpieces. In this process a magnetically controlled ball end of smart MR polishing fluid is generated at the tip surface of the tool which is used as a finishing medium and it is guided to follow the surface to be finished through computer controlled 3-axes motion controller. The experiments were performed on ferromagnetic workpiece surface in the developed MR finishing setup to study the effect of finishing time on final surface roughness. The performance of present finishing process on final finished surface roughness was studied. The surface morphology was observed under scanning electron microscopy and atomic force microscope. The final surface finish was obtained as low as 19.7 nm from the initial surface roughness of 142.9 nm. The outcome of newly developed finishing process can be found useful in its applications in aerospace, automotive, dies and molds manufacturing industries, semiconductor and optics machining etc.Keywords: Ball end MR finishing tool, Magnetorheological finishing, Nanofinishing
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23435694 Modeling Cost Structure for Assessment Production Cost of Algal - Biofue
Authors: A. Eman Mohammed
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Algae-based fuel are considered a promising sources of clean energy, and because it has many advantages over traditional biofuel, research and business ventures have driven into developing and producing Algal-biofuel. But its production stages create a cost structure that it is not competitive with traditional fuels. Therefore, cost becomes the main obstacle in commercial production purpose. However, the present research which aims at using cost structure model, and designed MS-Dose program, to investigate the a mount of production cost and determined the parameter had great effect on it, second to measured the amount of contribution rate of algae in process the pollution by capturing Co2 from air . The result generated from the model shows that the production cost of biomass is between $0.137 /kg for 100 ha and $0.132 /kg for 500 ha which was less than cost of other studies, while gallon costs between $3.4 - 3.5, more than traditional sources of oil about $1 ,which regarded as a rate of contribution of algal in capturing CO2 from air.Keywords: Cost Structure Model, Operation Costs(Production Cost), Capital Costs, Algae.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20275693 Meteorological Data Study and Forecasting Using Particle Swarm Optimization Algorithm
Authors: S. Esfandeh, M. Sedighizadeh
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Weather systems use enormously complex combinations of numerical tools for study and forecasting. Unfortunately, due to phenomena in the world climate, such as the greenhouse effect, classical models may become insufficient mostly because they lack adaptation. Therefore, the weather forecast problem is matched for heuristic approaches, such as Evolutionary Algorithms. Experimentation with heuristic methods like Particle Swarm Optimization (PSO) algorithm can lead to the development of new insights or promising models that can be fine tuned with more focused techniques. This paper describes a PSO approach for analysis and prediction of data and provides experimental results of the aforementioned method on realworld meteorological time series.Keywords: Weather, Climate, PSO, Prediction, Meteorological
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20765692 The Comparison of Anchor and Star Schema from a Query Performance Perspective
Authors: Radek Němec
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Today's business environment requires that companies have access to highly relevant information in a matter of seconds. Modern Business Intelligence tools rely on data structured mostly in traditional dimensional database schemas, typically represented by star schemas. Dimensional modeling is already recognized as a leading industry standard in the field of data warehousing although several drawbacks and pitfalls were reported. This paper focuses on the analysis of another data warehouse modeling technique - the anchor modeling, and its characteristics in context with the standardized dimensional modeling technique from a query performance perspective. The results of the analysis show information about performance of queries executed on database schemas structured according to principles of each database modeling technique.Keywords: Data warehousing, anchor modeling, star schema, anchor schema, query performance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 33195691 Reduce, Reuse and Recycle: Grand Challenges in Construction Recovery Process
Authors: Abioye A. Oyenuga, Rao Bhamidimarri
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Hurling a successful Construction and Demolition Waste (C&DW) recycling operation around the globe is a challenge today, predominantly because secondary materials markets are yet to be integrated. Reducing, Reusing and recycling of (C&DW) have been employed over the years, and various techniques have been investigated. However, the economic and environmental viability of its application seems limited. This paper discusses the costs and benefits in using secondary materials and focus on investigating reuse and recycling process for five major types of construction materials: concrete, metal, wood, cardboard/paper and plasterboard. Data obtained from demolition specialists and contractors are considered and evaluated. The research paper found that construction material recovery process fully incorporate a 3R’s principle contributing to saving energy and natural resources. This scrutiny leads to the empathy of grand challenges in construction material recovery process. Recommendations to deepen material recovery process are also discussed.
Keywords: Construction & Demolition Waste (C&DW), 3R concept, Recycling, Reuse, Life-Cycle Assessment (LCA), Waste Management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 50985690 Removal of Iron from Groundwater by Sulfide Precipitation
Authors: H. Jusoh, N. Sapari, R.Z. Raja Azie
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Iron in groundwater is one of the problems that render the water unsuitable for drinking. The concentration above 0.3 mg/L is common in groundwater. The conventional method of removal is by precipitation under oxic condition. In this study, iron removal under anaerobic conditions was examined by batch experiment as a main purpose. The process involved by purging of groundwater samples with H2S to form iron sulfide. Removal up to 83% for 1 mg/L iron solution was achieved. The removal efficiency dropped to 82% and 75% for the higher initial iron concentrations 3.55 and 5.01 mg/L, respectively. The average residual sulfide concentration in water after the process was 25*g/L. The Eh level during the process was -272 mV. The removal process was found to follow the first order reaction with average rate constant of 4.52 x 10-3. The half-life for the concentrations to reduce from initial values was 157 minutes.
Keywords: Anaerobic, chemical kinetics, hydrogen sulfide, iron, rate constant
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27355689 A Proposed Innovation Management System Framework – A Solution for Organizations Aimed for Obtaining Performance
Authors: Andreea Maier, Stelian Brad, Mircea Fulea, Diana Nicoară, Dorin Maier
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Today, any organization - regardless of the specific activity - must be prepared to face continuous radical changes, innovation thus becoming a condition of survival in a globalized market. Few managers have a wider vision that includes innovation, to enable better performance of the critical activities, namely the degree of novelty that it must submit an innovation to be considered as such. Companies need not only radical changes in the products or their services, but also to their business strategies. Not all managers have an overall view on the real size of necessary innovation potential. Unfortunately there is still no common understanding (and correct) of the term of innovation among managers. Moreover, not all managers are aware of the need for innovation. In these conditions, increasing the processes adaptability of firms (through innovation) to meet the needs and performance requirements is difficult without a systematic framework. To overcome this disadvantage, the authors propose a framework for designing an innovation management system,, to cover all the important aspects of a business system, to reach the actual performance of an organization.
Keywords: Innovation, innovation framework, innovation management system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19585688 Modelling of the Fire Pragmatism in the Area of Military Management and Its Experimental Verification
Authors: Ivana Mokrá
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The article deals with modelling of the fire pragmatism in the area of military management and its experimental verification. Potential approaches are based on the synergy of mathematical and theoretical ideas, operational and tactical requirements and the military decision-making process. This issue has taken on importance in recent times, particularly with the increasing trend of digitized battlefield, the development of C4ISR systems and intention to streamline the command and control process at the lowest levels of command. From fundamental and philosophical point of view, these new approaches seek to significantly upgrade and enhance the decision-making process of the tactical commanders.
Keywords: Military management, decision-making process, strike modeling, experimental evaluation, pragmatism, tactical strike modeling
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15325687 A Hybrid Scheme for on-Line Diagnostic Decision Making Using Optimal Data Representation and Filtering Technique
Authors: Hyun-Woo Cho
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The early diagnostic decision making in industrial processes is absolutely necessary to produce high quality final products. It helps to provide early warning for a special event in a process, and finding its assignable cause can be obtained. This work presents a hybrid diagnostic schmes for batch processes. Nonlinear representation of raw process data is combined with classification tree techniques. The nonlinear kernel-based dimension reduction is executed for nonlinear classification decision boundaries for fault classes. In order to enhance diagnosis performance for batch processes, filtering of the data is performed to get rid of the irrelevant information of the process data. For the diagnosis performance of several representation, filtering, and future observation estimation methods, four diagnostic schemes are evaluated. In this work, the performance of the presented diagnosis schemes is demonstrated using batch process data.
Keywords: Diagnostics, batch process, nonlinear representation, data filtering, multivariate statistical approach
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13165686 Industrial Applications of Laser Engraving: Influence of the Process Parameters on Machined Surface Quality
Authors: F.Agalianos, S.Patelis , P. Kyratsis, E. Maravelakis, E.Vasarmidis, A.Antoniadis
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Laser engraving is a manufacturing method for those applications where previously Electrical Discharge Machining (EDM) was the only choice. Laser engraving technology removes material layer-by-layer and the thickness of layers is usually in the range of few microns. The aim of the present work is to investigate the influence of the process parameters on the surface quality when machined by laser engraving. The examined parameters were: the pulse frequency, the beam speed and the layer thickness. The surface quality was determined by the surface roughness for every set of parameters. Experimental results on Al7075 material showed that the surface roughness strictly depends on the process parameters used.
Keywords: Laser engraving, Al7075, Yb: YAG laser, laser process parameters, material roughness.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25605685 Optimization of Surface Roughness in Turning Process Utilizing Live Tooling via Taguchi Methodology
Authors: Weinian Wang, Joseph C. Chen
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The objective of this research is to optimize the process of cutting cylindrical workpieces utilizing live tooling on a HAAS ST-20 lathe. Surface roughness (Ra) has been investigated as the indicator of quality characteristics for machining process. Aluminum alloy was used to conduct experiments due to its wide range usages in engineering structures and components where light weight or corrosion resistance is required. In this study, Taguchi methodology is utilized to determine the effects that each of the parameters has on surface roughness (Ra). A total of 18 experiments of each process were designed according to Taguchi’s L9 orthogonal array (OA) with four control factors at three levels of each and signal-to-noise ratios (S/N) were computed with Smaller the better equation for minimizing the system. The optimal parameters identified for the surface roughness of the turning operation utilizing live tooling were a feed rate of 3 inches/min(A3); a spindle speed of 1300 rpm(B3); a 2-flute titanium nitrite coated 3/8” endmill (C1); and a depth of cut of 0.025 inches (D2). The mean surface roughness of the confirmation runs in turning operation was 8.22 micro inches. The final results demonstrate that Taguchi methodology is a sufficient way of process improvement in turning process on surface roughness.
Keywords: Live tooling, surface roughness, Taguchi Parameter Design, CNC turning operation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8045684 Discrete Estimation of Spectral Density for Alpha Stable Signals Observed with an Additive Error
Authors: R. Sabre, W. Horrigue, J. C. Simon
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This paper is interested in two difficulties encountered in practice when observing a continuous time process. The first is that we cannot observe a process over a time interval; we only take discrete observations. The second is the process frequently observed with a constant additive error. It is important to give an estimator of the spectral density of such a process taking into account the additive observation error and the choice of the discrete observation times. In this work, we propose an estimator based on the spectral smoothing of the periodogram by the polynomial Jackson kernel reducing the additive error. In order to solve the aliasing phenomenon, this estimator is constructed from observations taken at well-chosen times so as to reduce the estimator to the field where the spectral density is not zero. We show that the proposed estimator is asymptotically unbiased and consistent. Thus we obtain an estimate solving the two difficulties concerning the choice of the instants of observations of a continuous time process and the observations affected by a constant error.
Keywords: Spectral density, stable processes, aliasing, periodogram.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6635683 Middle East towards Incubator Benefits: Case Studies
Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler
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In the context of business incubation (BI) as strategic enablers, this paper critically reviews the literature relating to the strategic benefits of BI in the Middle East. The taxonomy of BI benefits in the strategic elements on 1) type, 2) financial model, 3) services, 4) objectives, 5) number of clients, 6) number of graduates, and 7) jobs creation. Understanding the importance of BI benefits can be significant in the economic development although most incubators lead to diversify the economy. Thus, taxonomies of the benefits of BI are produced from both the academic literature and published case studies. In this way, a classification of strategic benefits elements as they relate to incubators has been developed to provide a greater understanding of the benefits needed to obtain a specific element. The result of this paper is Business incubators is aimed entrepreneurship, jobs creation, research commercialization and profitable enterprises in Middle Eastern countries.Keywords: Economic Development, Incubators, Middle East, Strategic.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22225682 Role of Process Parameters on Pocket Milling with Abrasive Water Jet Machining Technique
Authors: T. V. K. Gupta, J. Ramkumar, Puneet Tandon, N. S. Vyas
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Abrasive Water Jet Machining is an unconventional machining process well known for machining hard to cut materials. The primary research focus on the process was for through cutting and a very limited literature is available on pocket milling using AWJM. The present work is an attempt to use this process for milling applications considering a set of various process parameters. Four different input parameters, which were considered by researchers for part separation, are selected for the above application, i.e., abrasive size, flow rate, standoff distance and traverse speed. Pockets of definite size are machined to investigate surface roughness, material removal rate and pocket depth. Based on the data available through experiments on SS304 material, it is observed that higher traverse speeds gives a better finish because of reduction in the particle energy density and lower depth is also observed. Increase in the standoff distance and abrasive flow rate reduces the rate of material removal as the jet loses its focus and occurrence of collisions within the particles. ANOVA for individual output parameter has been studied to know the significant process parameters.
Keywords: Abrasive flow rate, surface finish, abrasive size, standoff distance, traverse speed.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 42325681 Learning Materials of Atmospheric Pressure Plasma Process: Application in Wrinkle-Resistant Finishing of Cotton Fabric
Authors: C. W. Kan
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Cotton fibre is a commonly-used natural fibre because of its good fibre strength, high moisture absorption behaviour and minimal static problems. However, one of the main drawbacks of cotton fibre is wrinkling after washing, which is recently overcome by wrinkle-resistant treatment. 1,2,3,4-butanetetracarboxylic acid (BTCA) could improve the wrinkle-resistant properties of cotton fibre. Although the BTCA process is an effective method for wrinkle resistant application of cotton fabrics, reduced fabric strength was observed after treatment. Therefore, this paper would explore the use of atmospheric pressure plasma treatment under different discharge powers as a pretreatment process to enhance the application of BTCA process on cotton fabric without generating adverse effect. The aim of this study is to provide learning information to the users to know how the atmospheric pressure plasma treatment can be incorporated in textile finishing process with positive impact.Keywords: Learning materials, atmospheric pressure plasma treatment, cotton, wrinkle-resistant, BTCA.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13905680 A Framework of Monte Carlo Simulation for Examining the Uncertainty-Investment Relationship
Authors: George Yungchih Wang
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This paper argues that increased uncertainty, in certain situations, may actually encourage investment. Since earlier studies mostly base their arguments on the assumption of geometric Brownian motion, the study extends the assumption to alternative stochastic processes, such as mixed diffusion-jump, mean-reverting process, and jump amplitude process. A general approach of Monte Carlo simulation is developed to derive optimal investment trigger for the situation that the closed-form solution could not be readily obtained under the assumption of alternative process. The main finding is that the overall effect of uncertainty on investment is interpreted by the probability of investing, and the relationship appears to be an invested U-shaped curve between uncertainty and investment. The implication is that uncertainty does not always discourage investment even under several sources of uncertainty. Furthermore, high-risk projects are not always dominated by low-risk projects because the high-risk projects may have a positive realization effect on encouraging investment.Keywords: real options, geometric Brownian motion, mixeddiffusion-jump process, mean- reverting process, jump amplitudeprocess
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15465679 Directors’ Duties, Civil Liability, and the Business Judgment Rule under the Portuguese Legal Framework
Authors: Marisa Catarina da Conceição Dinis
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The commercial companies’ management has suffered an important material and legal transformation in the last years, mainly related to the changes in the Portuguese legal framework and because of the fact they were recently object of great expansion. In fact, next to the smaller family businesses, whose management is regularly assumed by partners, companies with social investment highly scattered, whose owners are completely out from administration, are now arising. In those particular cases, the business transactions are much more complex and require from the companies’ managers a highly technical knowledge and some specific professionals’ skills and abilities. This kind of administration carries a high-level risk that can both result in great success or in great losses. Knowing that the administration performance can result in important losses to the companies, the Portuguese legislator has created a legal structure to impute them some responsibilities and sanctions. The main goal of this study is to analyze the Portuguese law and some jurisprudence about companies’ management rules and about the conflicts between the directors and the company. In order to achieve these purposes we have to consider, on the one hand, the legal duties directly connected to the directors’ functions and on the other hand the disrespect for those same rules. The Portuguese law in this matter, influenced by the common law, determines that the directors’ attitude should be guided by loyalty and honesty. Consequently, we must reflect in which cases the administrators should respond to losses that they might cause to companies as a result of their duties’ disrespect. In this way is necessary to study the business judgment rule wich is a rule that refers to a liability exclusion rule. We intend, in the same way, to evaluate if the civil liability that results from the directors’ duties disrespect can extend itself to those who have elected them ignoring or even knowing that they don´t have the necessary skills or appropriate knowledge to the position they hold. To charge directors’, without ruining entrepreneurship, charging, in the same way, those who select them reinforces the need for more responsible and cautious attitudes which will lead consequently to more confidence in the markets.
Keywords: Duty of loyalty, duty of care, business judgment rule, civil liability of directors.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12525678 Determinants for Success in Expatriation of Malaysian International Corporations
Authors: Senian Malie, Oriah Akir
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Malaysian corporations going global increased many folds. The shift from domestic to international operations requires increased expatriation to achieve global business goals. Therefore, this study aims to identify the determinants for success in expatriation of Malaysian international corporations. There are certain attributes necessary for a global employee to succeed in international assignment. Self-administered questionnaires were sent to 327 respondents with a response rate of 35.2 percent. The results indicated that most Malaysian manufacturers are involved in expatriation. For a global employee to succeed in an international assignment, the ability to work in international teams was identified and ranked as the most important factor in determining the effectiveness of expatriation followed by language proficiency, adaptability to the international assignment and expatriate sensitivity to cultural elements. The results support previous research with regard to the importance of an effective expatriation selection process in order for a company-s international expansion strategy to succeed.Keywords: Key Competencies, Expatriate, Expatriation, Globalization, and International Assignment
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25645677 The Effect of IT Service Quality Attributes on Supply Chain Management and Performance
Authors: Narasimhaiah Gorla, Annibal Scavarda
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Nowadays, where most of the leading economies are service oriented and e-business is being widely used for their management, supply chain management has become one of the most studied and practiced fields. Quality has an important role on today-s business processes, so it is important to understand the impact of IT service quality on the performance of supply chains. This paper will start by analyzing the Supply Chain Operations Reference (SCOR) model and each of its five activities: Plan, Source, Make, Delivery, and Return. This article proposes a framework for analyzing Effect of IT Service Quality on Supply Chain Performance. Using the proposed framework, hypotheses are framed for the direct effect of IT service quality on Supply Chain Performance and its indirect effect through effective Supply Chain Management. The framework will be validated empirically based on the surveys of executives of various organizations and statistical analyses of the data collected.Keywords: IT service quality, SCOR model, Supply Chain Management, Supply Chain Performance
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19455676 Requirements Engineering for Enterprise Applications Development: Seven Challenges in Higher Education Environment
Authors: Jamaludin Sallim
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This paper describes the challenges on the requirements engineering for developing an enterprise applications in higher education environment. The development activities include software implementation, maintenance, and enhancement and support for online transaction processing and overnight batch processing. Generally, an enterprise application for higher education environment may include Student Information System (SIS), HR/Payroll system, Financial Systems etc. By the way, there are so many challenges in requirement engineering phases in order to provide two distinctive services that are production processing support and systems development.Keywords: enterprise applications development, enterprise information systems, business process, requirement engineering, requirement standards, software development activities, software requirement reviews.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17195675 An Assessment of Software Process Optimization Compared to International Best Practice in Bangladesh
Authors: Mohammad Shahadat Hossain Chowdhury, Tania Taharima Chowdhary, Hasan Sarwar
Abstract:
The challenge for software development house in Bangladesh is to find a path of using minimum process rather than CMMI or ISO type gigantic practice and process area. The small and medium size organization in Bangladesh wants to ensure minimum basic Software Process Improvement (SPI) in day to day operational activities. Perhaps, the basic practices will ensure to realize their company's improvement goals. This paper focuses on the key issues in basic software practices for small and medium size software organizations, who are unable to effort the CMMI, ISO, ITIL etc. compliance certifications. This research also suggests a basic software process practices model for Bangladesh and it will show the mapping of our suggestions with international best practice. In this IT competitive world for software process improvement, Small and medium size software companies that require collaboration and strengthening to transform their current perspective into inseparable global IT scenario. This research performed some investigations and analysis on some projects- life cycle, current good practice, effective approach, reality and pain area of practitioners, etc. We did some reasoning, root cause analysis, comparative analysis of various approach, method, practice and justifications of CMMI and real life. We did avoid reinventing the wheel, where our focus is for minimal practice, which will ensure a dignified satisfaction between organizations and software customer.Keywords: Compare with CMMI practices, Key success factors, Small and medium software house, Software process improvement; Software process optimization.
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