Search results for: company valuation.

Authors: Gabriel Jinga, Madalina Dumitru

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The objective of this paper is to present the process of change in management accounting in Romania, a former communist country from Eastern Europe. In order to explain this process, we used the contingency and institutional theories. We focused on the following directions: the presentation of the scientific context and motivation of this research and the case study. We presented the state of the art in the process of change in the management accounting from the international and national perspective. We also described the evolution of management accounting in Romania in the context of economic and political changes. An important moment was the fall of communism in 1989. This represents a starting point for a new economic environment and for new management accounting. Accordingly, we developed a case study which presented this evolution. The conclusion of our research was that the changes in the management accounting system of the company analysed occurred in the same time with the institutionalisation of some elements (e.g. degree of competition, training and competencies in management accounting). The management accounting system was modelled by the contingencies specific to this company (e.g. environment, industry, strategy).

Keywords: Management accounting, change, Romania, contingency and institutional theory.

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Authors: Feng-Tsung Cheng, Shu-Li Wang, Mei-Fang Wu, Hui-Yu Chuang

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The rapid development technology and widespread Internet make business environment changing a lot. In order to stand in the global market and to keep subsistence, “changing” is unspoken rule for the company’s survival. The purpose of this paper is building up change model by using SWOT, strategy map, KPI and change management theory. The research findings indicate that the company needs to deal with employee’s resistance emotion firstly before building up change model. The ways of providing performance appraisal reward, consulting and counseling mechanisms that will great help to achieve reducing staff negative emotions and motivate staff’s efficiencies also. To revise strategy map, modify corporate culture, and improve internal operational processes which is based on change model. Through the change model, the increasing growth rate of net income helps company to achieve the goals and be a leading brand of precision machinery industry.

Keywords: Organizational change, SWOT analysis, strategy maps, performance indicators.

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Authors: Joseph Oh, Bo-Hyun Kim, Jae-Yong Baek

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This study suggests how an order-receiving company can avoid disclosing schedule information on unit tasks to the order-placing company when carrying out a collaborative project on the value chain in an order-oriented industry. Specifically, it suggests methods for keeping schedule information confidential, and categorizes potential situations by inter-task dependency. Lastly, an approach to select the most optimal non-disclosure method is discussed. With the methods for not disclosing work-related information suggested in the study, order-receiving companies can logically deal with political issues relating to the question of whether or not to disclose information upon the execution of a collaborative project in cooperation with an order-placing firm. Moreover, order-placing companies can monitor undistorted information, while respecting the legitimate rights of an order-receiving company. Therefore, it is fair to say that the suggestions made in this study will contribute to the smooth operation of collaborative intercompany projects.

Keywords: collaborative project, dependency, schedule management, unit task.

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Authors: B. Likar, K. Širok

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The paper presents a new method for efficient innovation process management. Even though the innovation management methods, tools and knowledge are well established and documented in literature, most of the companies still do not manage it efficiently. Especially in SMEs the front end of innovation - problem identification, idea creation and selection - is often not optimally performed. Our eMIPS methodology represents a sort of "umbrella methodology" - a well-defined set of procedures, which can be dynamically adapted to the concrete case in a company. In daily practice, various methods (e.g. for problem identification and idea creation) can be applied, depending on the company's needs. It is based on the proactive involvement of the company's employees supported by the appropriate methodology and external experts. The presented phases are performed via a mixture of face-to-face activities (workshops) and online (eLearning) activities taking place in eLearning Moodle environment and using other e-communication channels. One part of the outcomes is an identified set of opportunities and concrete solutions ready for implementation. The other also very important result is connected to innovation competences for the participating employees related with concrete tools and methods for idea management. In addition, the employees get a strong experience for dynamic, efficient and solution oriented managing of the invention process. The eMIPS also represents a way of establishing or improving the innovation culture in the organization. The first results in a pilot company showed excellent results regarding the motivation of participants and also as to the results achieved.

Keywords: Creativity, distance learning, front end, innovation, problem.

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Authors: Adamu Danlami Ahmed

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Inventory management is the determinant of effective and efficient work for any manager. This study looked at the relationship between inventory management and financial performance. The population of the study comprises all conglomerate quoted companies in the Nigerian Stock Exchange market as at 31^st December 2010. The scope of the study covered the period from 2010 to 2014. Descriptive, Pearson correlation and multiple regressions are used to analyze the data. It was found that inventory management is significantly related to the profitability of the company. This entails that an efficient management of the inventory cycle will enhance the profitability of the company. Also, lack of proper management of it will hinder the financial performance of organizations. Based on the results, it was recommended that a conglomerate company should try to see that inventories are kept to a minimum, as well as make sure the proper checks are maintained to make sure only needed inventories are in the store. As well as to keep track of the movement of goods, in order to avoid unnecessary delay of finished and work in progress (WIP) goods in the store and warehouse.

Keywords: Finished goods, work in progress, financial performance, inventory.

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Authors: Wimalin S. Laosiritaworn, Pongsak Holimchayachotikul

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this article proposed a methodology for computer numerical control (CNC) machine scoring. The case study company is a manufacturer of hard disk drive parts in Thailand. In this company, sample of parts manufactured from CNC machine are usually taken randomly for quality inspection. These inspection data were used to make a decision to shut down the machine if it has tendency to produce parts that are out of specification. Large amount of data are produced in this process and data mining could be very useful technique in analyzing them. In this research, data mining techniques were used to construct a machine scoring model called 'machine priority assessment model (MPAM)'. This model helps to ensure that the machine with higher risk of producing defective parts be inspected before those with lower risk. If the defective prone machine is identified sooner, defective part and rework could be reduced hence improving the overall productivity. The results showed that the proposed method can be successfully implemented and approximately 351,000 baht of opportunity cost could have saved in the case study company.

Keywords: Computer Numerical Control, Data Mining, HardDisk Drive.

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Authors: Ji-Hoon Hong, Dong-Hee Kim, Nam-Uk Kim, Tai-Myoung Chung

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Smartphone users are increasing rapidly. Accordingly, many companies are running BYOD (Bring Your Own Device: Policies to bring private-smartphones to the company) policy to increase work efficiency. However, smartphones are always under the threat of malware, thus the company network that is connected smartphone is exposed to serious risks. Most smartphone malware detection techniques are to perform an independent detection (perform the detection of a single target application). In this paper, we analyzed a variety of intrusion detection techniques. Based on the results of analysis propose an agent using the network IDS.

Keywords: Android malware detection, software-defined network.

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Authors: A. Leśniak, E. Plebankiewicz, K. Zima

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Construction projects can be implemented under various contractual and organizational systems. They can be divided into two groups: systems without the managing company where the Client manages the process, and systems with the managing company, where management is entrusted to an external company. In the public sector of the Polish market there are two ways of delivery of construction projects with the participation of the manager: one is to assign operations to another party, the so called Project Supervisor, whilst the other results from the application of FIDIC conditions of contract, which entail appointment of the Engineer. The decision is to be made by the Client and depends on various factors. On the public procurement market in Poland the selection of construction project manager boils down to awarding the contract for such a service. The selection can be done by one of eight public procurement procedures identified by the procurement law. The paper provides the analysis of 96 contracts for services awarded in 2011, which employed construction management. The study aimed to investigate the methods and criteria for selecting managers, applied in practice by the Polish public Clients.

Keywords: construction management, construction services, methods and criteria of tender selection, public procurement

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Authors: Edward C. W. Chan, Benny C. F. Cheung

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In the knowledge economy, the financial indicator is not the unique instrument to gauge the performance of a company. The role of intellectual capital contributing to the company performance is increasing. To measure the company performance due to intellectual capital, the value-added intellectual capital (VAIC) model is adopted to measure the intellectual capital utilization efficiency of the subject companies. The purpose of this study is to review the readiness of measuring intellectual capital for the Hong Kong listed companies in the property development and property investment industry by using VAIC model. This study covers the financial reports from the representative Hong Kong listed property development companies and property investment companies in the period 2014-2019. The findings from this study indicated the industry is ready for IC measurement employing VAIC framework but not yet ready for using the extended VAIC model.

Keywords: Intellectual capital, intellectual capital measurement, property development, property investment, Skandia Navigator, VAIC.

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Authors: Pradeep Singh, Shrish Verma

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Software fault prediction models are created by using the source code, processed metrics from the same or previous version of code and related fault data. Some company do not store and keep track of all artifacts which are required for software fault prediction. To construct fault prediction model for such company, the training data from the other projects can be one potential solution. Earlier we predicted the fault the less cost it requires to correct. The training data consists of metrics data and related fault data at function/module level. This paper investigates fault predictions at early stage using the cross-project data focusing on the design metrics. In this study, empirical analysis is carried out to validate design metrics for cross project fault prediction. The machine learning techniques used for evaluation is Naïve Bayes. The design phase metrics of other projects can be used as initial guideline for the projects where no previous fault data is available. We analyze seven datasets from NASA Metrics Data Program which offer design as well as code metrics. Overall, the results of cross project is comparable to the within company data learning.

Keywords: Software Metrics, Fault prediction, Cross project, Within project.

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Authors: Oscar Javier Herrera, Manuel Ángel Camacho

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This paper addresses a cutting edge method of business demand forecasting, based on an empirical probability function when the historical behavior of the data is random. Additionally, it presents error determination based on the numerical method technique ‘propagation of errors.’ The methodology was conducted characterization and process diagnostics demand planning as part of the production management, then new ways to predict its value through techniques of probability and to calculate their mistake investigated, it was tools used numerical methods. All this based on the behavior of the data. This analysis was determined considering the specific business circumstances of a company in the sector of communications, located in the city of Bogota, Colombia. In conclusion, using this application it was possible to obtain the adequate stock of the products required by the company to provide its services, helping the company reduce its service time, increase the client satisfaction rate, reduce stock which has not been in rotation for a long time, code its inventory, and plan reorder points for the replenishment of stock.

Keywords: Demand Forecasting, Empirical Distribution, Propagation of Error.

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Authors: E. A. Tkachenko, E. M. Rogova, V. V. Klimov

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One of the basic issues of development management is connected with performance measurement as a prerequisite for identifying the achievement of development objectives. The aim of our research is to develop an improved model of assessing a company’s development results. The model should take into account the cyclical nature of development and the high degree of uncertainty in dealing with numerous management tasks. Our hypotheses may be formulated as follows: Hypothesis 1. The cycle of a company’s development may be studied from the standpoint of a project cycle. To do that, methods and tools of project analysis are to be used. Hypothesis 2. The problem of the uncertainty when justifying managerial decisions within the framework of a company’s development cycle can be solved through the use of the mathematical apparatus of fuzzy logic. The reasoned justification of the validity of the hypotheses made is given in the suggested article. The fuzzy logic toolkit applies to the case of technology shift within an enterprise. It is proven that some restrictions in performance measurement that are incurred to conventional methods could be eliminated by implementation of the fuzzy logic apparatus in performance measurement models.

Keywords: Fuzzy logic, fuzzy sets, performance measurement, project analysis.

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Authors: Mengist Hailemariam, Silma Yoseph

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A well designed and executed Production Planning and Control (PPC) system is one of the key levers for superior performance in the current manufacturing set-up. Hence, measuring the PPC system performance has become a necessity for long term success. The present study examined PPC related issues which impact the production capacity and productivity of leather companies with special focus on Kombolcha Tannery Share Company (KTSC), Ethiopia. Physical observation, interview, and questionnaire were used to generate necessary information from the respondents and reach valid conclusions. Company annual reports were referred and analyzed to triangulate primary data. Consequently, the study revealed that KTSC runs below its capacity due to its inefficient PPC system being in use for which the root causes were identified. The study thereby conceptualizes a PPC system improvement framework comprising three pillars viz., management culture, internal capability and performance measurement together with key considerations in each case. The study findings enable the company to recognize the importance of efficient PPC system as a source of competitive advantage. It also aid managers in evaluating various PPC execution schemes to enhance productivity.

Keywords: Ethiopia, Leather manufacturing, Production planning and control, PPC improvement framework.

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Authors: Masimuddin Mohd Khaled

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This paper subsidizes to the discussion of Six Sigma in the Aerospace Industry. The main aim of this report is to study the literature review of Six Sigma emphasizing on the aerospace industry. The implementation of Six Sigma stages are studied and how the improvement cycle ‘Define, Measure, Analyze, Improve and Control cycle’ (DMAIC) and the design process is ‘Define, Measure, Analyze, Design and Verify cycle’ (DMADV) is used. The focus is also done by studying how the implementation of Six Sigma on an aerospace company has brought a positive effect to the company.

Keywords: Six Sigma, DMAIC, DMADV, aerospace.

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Authors: Markéta Gregušová, Vladimíra Schindlerová, Ivana Šajdlerová, Petr Mohyla, Jan Kedroň

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Company managers are always looking for more and more opportunities to succeed in today's fiercely competitive market. To maintain your place among the successful companies on the market today or to come up with a revolutionary business idea is much more difficult than before. Each new or improved method, tool, or approach that can improve the functioning of business processes or even of the entire system is worth checking and verification. The use of simulation in the design of manufacturing systems and their management in practice is one of the ways without increased risk, which makes it possible to find the optimal parameters of manufacturing processes and systems. The paper presents an example of use of simulation for solution of the bottleneck problem in the concrete company.

Keywords: Practical applications, business processes, systems, simulation.

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Authors: Daniel A. Montoya, Marta L. Tostes

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This investigation aims at analyzing and determining the relation between two very important variables in the human resource management: The organizational climate and the performance assessment. This study aims at contributing with knowledge in the search of the relation between the mentioned variables because the literature still does not provide solid evidence to this respect and the cases revised are incipient to reach conclusions enabling a typology about this relation.To this regard, a correlational and cross-sectional perspective was adopted in which quantitative and qualitative techniques were chosen with the total of the workers of the tourist service company PTS Peru. In order to measure the organizational climate, the OCQ (Organization Climate Questionnaire) from was used; it has 50 items and measures 9 dimensions of the Organizational Climate. Also, to assess performance, a questionnaire with 21 items and 6 dimensions was designed. As a means of assessment, a focus group was prepared and was applied to a worker in every area of the company. Additionally, interviews to human resources experts were conducted. The results of the investigation show a clear relation between the organizational climate and the personnel performance assessment as well as a relation between the nine dimensions of the organizational climate and the work performance in general and with some of its dimensions.

Keywords: Job performance, human resource management, organization climate, performance assessment.

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Authors: S. Pechpoothong, M. Kopystecki

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The eco-efficient use of “waste" makes sense from economic, social, and environmental perspectives. By efficiency diverting “waste" products back into useful and/or profitable inputs, industries and entire societies can reap the benefits of improved financial profit, decreased environmental degradation, and overall well-being of humanity. In this project, several material flows at Company Limited were investigated. Principles of "industrial ecology" were applied to improve the management of waste rubbers that are used in the jewelry manufacturing process. complete this project, a brief engineering analysis stream, and investigated eco-efficient principles for more efficient handling of the materials and wastes were conducted, and the result were used to propose implementation strategies.

Keywords: Rubber, ecology, waste.

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Authors: Emre Alptekin, Damla Yalçınyiğit, Gülfem Alptekin

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In highly competitive environments, a growing number of companies must regularly launch new products speedily and successfully. A company-s success is based on the systematic, conscious product designing method which meets the market requirements and takes risks as well as resources into consideration. Research has found that developing and launching new products are inherently risky endeavors. Hence in this research, we aim at introducing a risk evaluation framework for the new product innovation process. Our framework is based on the fuzzy analytical hierarchy process (FAHP) methodology. We have applied all the stages of the framework on the risk evaluation process of a pharmaceuticals company.

Keywords: Evaluation, risks, product innovation.

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Authors: Sara Bragança, Eric Costa

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The work presented in this paper was performed for a workstation of an assembly section in a company that manufactures radio modules and air conditioning for cars. After performing a workstation analysis and a questionnaire to the operators it was possible to understand the need to investigate the risk of musculoskeletal disorders originated from both the handling of loads as the incorrect dimensioning of the workstation. Regarding the handling of loads the NIOSH Equation was used and it was verified that there was no risk of musculoskeletal disorders. As the operators expressed their lack of satisfaction regarding back pains due to posture adopted they were established the appropriate dimensions (to satisfy 97.5% of the population and using the table of anthropometric data of the Portuguese population) for the workstation and it was proposed the availability of a chair for the workers.

Keywords: Anthropometry, Musculoskeletal disorders, NIOSH Equation.

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Authors: Chutarat Boontho

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The purposes of this study were as follows to evaluate the economic value of Phu Kradueng National Park by the travel cost method (TCM) and the contingent valuation method (CVM) and to estimate the demand for traveling and the willingness to pay. The data for this study were collected by conducting two large scale surveys on users and non-users. A total of 1,016 users and 1,034 non-users were interviewed. The data were analyzed using multiple linear regression analysis, logistic regression model and the consumer surplus (CS) was the integral of demand function for trips. The survey found, were as follows: 1)Using the travel cost method which provides an estimate of direct benefits to park users, we found that visitors- total willingness to pay per visit was 2,284.57 bath, of which 958.29 bath was travel cost, 1,129.82 bath was expenditure for accommodation, food, and services, and 166.66 bath was consumer surplus or the visitors -net gain or satisfaction from the visit (the integral of demand function for trips). 2) Thai visitors to Phu Kradueng National Park were further willing to pay an average of 646.84 bath per head per year to ensure the continued existence of Phu Kradueng National Park and to preserve their option to use it in the future. 3) Thai non-visitors, on the other hand, are willing to pay an average of 212.61 bath per head per year for the option and existence value provided by the Park. 4) The total economic value of Phu Kradueng National Park to Thai visitors and non-visitors taken together stands today at 9,249.55 million bath per year. 5) The users- average willingness to pay for access to Phu Kradueng National Park rises from 40 bath to 84.66 bath per head per trip for improved services such as road improvement, increased cleanliness, and upgraded information. This paper was needed to investigate of the potential market demand for bio prospecting in Phu Kradueng national Park and to investigate how a larger share of the economic benefits of tourism could be distributed income to the local residents.

Keywords: Contingent Valuation Method, Travel Cost Method, Consumer surplus.

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Authors: S. Fore, L. Zuze

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Frequent machine breakdowns, low plant availability and increased overtime are a great threat to a manufacturing plant as they increase operating costs of an industry. The main aim of this study was to improve Overall Equipment Effectiveness (OEE) at a manufacturing company through the implementation of innovative maintenance strategies. A case study approach was used. The paper focuses on improving the maintenance in a manufacturing set up using an innovative maintenance regime mix to improve overall equipment effectiveness. Interviews, reviewing documentation and historical records, direct and participatory observation were used as data collection methods during the research. Usually production is based on the total kilowatt of motors produced per day. The target kilowatt at 91% availability is 75 Kilowatts a day. Reduced demand and lack of raw materials particularly imported items are adversely affecting the manufacturing operations. The company had to reset its targets from the usual figure of 250 Kilowatt per day to mere 75 per day due to lower availability of machines as result of breakdowns as well as lack of raw materials. The price reductions and uncertainties as well as general machine breakdowns further lowered production. Some recommendations were given. For instance, employee empowerment in the company will enhance responsibility and authority to improve and totally eliminate the six big losses. If the maintenance department is to realise its proper function in a progressive, innovative industrial society, then its personnel must be continuously trained to meet current needs as well as future requirements. To make the maintenance planning system effective, it is essential to keep track of all the corrective maintenance jobs and preventive maintenance inspections. For large processing plants these cannot be handled manually. It was therefore recommended that the company implement (Computerised Maintenance Management System) CMMS.

Keywords: Maintenance, Manufacturing, Overall Equipment Effectiveness

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Authors: Babak Mohajeri, Sen Bao, Timo Nyberg

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Customer experience is increasingly the differentiator between successful companies and those who struggle. Currently, customer experiences become more dynamic; and they advance with each interaction between the company and a customer. Every customer conversation and any effort to evolve these conversations would be beneficial and should ultimately result in a positive customer experience. The aim of this paper is to analyze the evolving customer experience management landscape and the relevant challenges and opportunities. A case study on the “paper machine” companies is chosen. Hence, this paper analyzes the challenges and opportunities in customer experience management of paper machine companies for the case of “road to steel”. Road to steel shows the journey of steel from raw material to end product (i.e. paper machine in this paper). ALPHA (Steel company) and BETA (paper machine company), are chosen and their efforts to evolve the customer experiences are investigated. Semi-structured interviews are conducted with experts in those companies to identify the challenges and opportunities of the evolving customer experience management from their point of view. The findings of this paper contribute to the theory and business practices in the realm of the evolving customer experience management landscape.

Keywords: Customer experience management, paper machine risk analysis, value chain management.

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Authors: Eko Budi Santoso, Kazia Laturette, Stanislaus Adnanto Mastan

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This study aims to examine the association between disclosure of social responsibility and tax aggressiveness in developing countries, namely Thailand. This is due to the increasing trend of disclosure of social responsibility in developing countries, even though this disclosure of information is still voluntary. On the other hand, developing countries have low taxation rate and investor protection infrastructures that allow the disclosure of social responsibility to be used opportunistically as a tool to fool the attainment of interests. This study also examines the role of assurance on the association between corporate social responsibility disclosure and tax aggressiveness. The assurance aims to provide confidence that the disclosure of social responsibility by the company is valid. This research builds an index to measure the disclosure of social responsibility based on the rules issued by the innovative Global Reporting. The results of the study are based on a sample of publicly traded companies in Thailand, which showed a positive association between disclosure of corporate social responsibility and tax aggressiveness, but it was further discovered that these results were mitigated by the existence of assurance against disclosure of corporate social responsibility. The results of this study indicate that the disclosure of corporate social responsibility can show that the company cares about the issue of social responsibility but does not automatically make the company as one that holds ethical values ​​in its business practices.

Keywords: Corporate Social Responsibility disclosure, tax aggressiveness, sustainability assurance, business ethics.

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Authors: B. Bakır, İ. Batmaz, F. A. Güntürkün, İ. A. İpekçi, G. Köksal, N. E. Özdemirel

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The main aim of this study is to identify the most influential variables that cause defects on the items produced by a casting company located in Turkey. To this end, one of the items produced by the company with high defective percentage rates is selected. Two approaches-the regression analysis and decision treesare used to model the relationship between process parameters and defect types. Although logistic regression models failed, decision tree model gives meaningful results. Based on these results, it can be claimed that the decision tree approach is a promising technique for determining the most important process variables.

Keywords: Casting industry, decision tree algorithm C5.0, logistic regression, quality improvement.

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Authors: Pelaez Verdet, Antonio, Loscertales Sanchez, Pilar

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One of the mayor problems of programming a cruise circuit is to decide which destinations to include and which don-t. Thus a decision problem emerges, that might be solved using a linear and goal programming approach. The problem becomes more complex if several boats in the fleet must be programmed in a limited schedule, trying their capacity matches best a seasonal demand and also attempting to minimize the operation costs. Moreover, the programmer of the company should consider the time of the passenger as a limited asset, and would like to maximize its usage. The aim of this work is to design a method in which, using linear and goal programming techniques, a model to design circuits for the cruise company decision maker can achieve an optimal solution within the fleet schedule.

Keywords: Itinerary design, cruise programming, goalprogramming, linear programming

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Authors: Marius Pislaru, Alexandru F. Trandabat

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Environmental studies have expanded dramatically all over the world in the past few years. Nowadays businesses interact with society and the environment in ways that put their mark on both sides. Efforts improving human standard living, through the control of nature and the development of new products, have also resulted in contamination of the environment. Consequently companies play an important role in environmental sustainability of a region or country. Therefore we can say that a company's sustainable development is strictly dependent on the environment. This article presents a fuzzy model to evaluate a company's environmental impact. Article illustrates an example of the automotive industry in order to prove the usefulness of using such a model.

Keywords: fuzzy approach, environmental impact assessment, sustainability

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Authors: Mei-Fang Wu, Shu-Li Wang, Tsung-Yueh Lu, Feng-Tsung Cheng

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Strengthening core competitiveness is the main goal of enterprises in a fierce competitive environment. Accurate cost information is a great help for managers in dealing with operation strategies. This paper establishes a profitability management mechanism that applies the Activity-Based Benefit approach (ABBA) to solve the profitability for each customer from the market. ABBA provides financial and non-financial information for the operation, but also indicates what resources have expired in the operational process. The customer profit management model shows the level of profitability of each customer for the company. The empirical data were gathered from a case company operating in the leather industry in Taiwan. The research findings indicate that 30% of customers create little profit for the company as a result of asking for over 5% of sales discounts. Those customers ask for sales discount because of color differences of leather products. This paper provides a customer’s profitability evaluation mechanism to help enterprises to greatly improve operating effectiveness and promote operational activity efficiency and overall operation profitability.

Keywords: Activity-based benefit approach, customer profit analysis, leather industry, profitability management mechanism.

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Authors: A. Bencsik, 1V. Lıre, 2, I. Marosi

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Intensive changes of environment and strong market competition have raised management of information and knowledge to the strategic level of companies. In a knowledge based economy only those organizations are capable of living which have up-to-date, special knowledge and they are able to exploit and develop it. Companies have to know what knowledge they have by taking a survey of organizational knowledge and they have to fix actual and additional knowledge in organizational memory. The question is how to identify, acquire, fix and use knowledge effectively. The paper will show that over and above the tools of information technology supporting acquisition, storage and use of information and organizational learning as well as knowledge coming into being as a result of it, fixing and storage of knowledge in the memory of a company play an important role in the intelligence of organizations and competitiveness of a company.

Keywords: Individual memory, organizational memory, knowledge management, organizational intelligence.

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Authors: John M. Ikome, Martha E. Ikome, Therese Van Wyk

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Productivity optimization of a company can significantly increase the company’s output and productivity which can be in the form of corrective actions of ineffective activities, process simplification, and reduction of variations, responsiveness, and reduction of set-up-time which are all under the classification of waste within the manufacturing environment. Deriving a means to eliminate a number of these issues has a key importance for manufacturing organization. This paper focused on a number of industrial engineering techniques which include a cause and effect diagram, to identify and optimize the method or systems being used. Based on our results, it shows that there are a number of variations within the production processes that can significantly disrupt the expected output.

Keywords: Optimization, fishbone diagram, productivity.

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Authors: Maja Sajdak

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The aim of this paper is to present the concept of an agile enterprise model and to initiate discussion on the research assumptions of the model presented. The implementation of the research project "The agility of enterprises in the process of adapting to the environment and its changes" began in August 2014 and is planned to last three years. The article has the form of a work-inprogress paper which aims to verify and initiate a debate over the proposed research model. In the literature there are very few publications relating to research into agility; it can be concluded that the most controversial issue in this regard is the method of measuring agility. In previous studies the operationalization of agility was often fragmentary, focusing only on selected areas of agility, for example manufacturing, or analysing only selected sectors. As a result the measures created to date can only be treated as contributory to the development of precise measurement tools. This research project aims to fill a cognitive gap in the literature with regard to the conceptualization and operationalization of an agile company. Thus, the original contribution of the author of this project is the construction of a theoretical model that integrates manufacturing agility (consisting mainly in adaptation to the environment) and strategic agility (based on proactive measures). The author of this research project is primarily interested in the attributes of an agile enterprise which indicate that the company is able to rapidly adapt to changing circumstances and behave pro-actively.

Keywords: Agile company, acuity, entrepreneurship, flexibility, research model, strategic leadership.

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