Search results for: Strategic Management
2003 Design and Development of Real-Time Optimal Energy Management System for Hybrid Electric Vehicles
Authors: Masood Roohi, Amir Taghavipour
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This paper describes a strategy to develop an energy management system (EMS) for a charge-sustaining power-split hybrid electric vehicle. This kind of hybrid electric vehicles (HEVs) benefit from the advantages of both parallel and series architecture. However, it gets relatively more complicated to manage power flow between the battery and the engine optimally. The applied strategy in this paper is based on nonlinear model predictive control approach. First of all, an appropriate control-oriented model which was accurate enough and simple was derived. Towards utilization of this controller in real-time, the problem was solved off-line for a vast area of reference signals and initial conditions and stored the computed manipulated variables inside look-up tables. Look-up tables take a little amount of memory. Also, the computational load dramatically decreased, because to find required manipulated variables the controller just needed a simple interpolation between tables.Keywords: Hybrid electric vehicles, energy management system, nonlinear model predictive control, real-time.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13872002 Tools and Techniques in Risk Assessment in Public Risk Management Organisations
Authors: Atousa Khodadadyan, Gabe Mythen, Hirbod Assa, Beverley Bishop
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Risk assessment and the knowledge provided through this process is a crucial part of any decision-making process in the management of risks and uncertainties. Failure in assessment of risks can cause inadequacy in the entire process of risk management, which in turn can lead to failure in achieving organisational objectives as well as having significant damaging consequences on populations affected by the potential risks being assessed. The choice of tools and techniques in risk assessment can influence the degree and scope of decision-making and subsequently the risk response strategy. There are various available qualitative and quantitative tools and techniques that are deployed within the broad process of risk assessment. The sheer diversity of tools and techniques available to practitioners makes it difficult for organisations to consistently employ the most appropriate methods. This tools and techniques adaptation is rendered more difficult in public risk regulation organisations due to the sensitive and complex nature of their activities. This is particularly the case in areas relating to the environment, food, and human health and safety, when organisational goals are tied up with societal, political and individuals’ goals at national and international levels. Hence, recognising, analysing and evaluating different decision support tools and techniques employed in assessing risks in public risk management organisations was considered. This research is part of a mixed method study which aimed to examine the perception of risk assessment and the extent to which organisations practise risk assessment’ tools and techniques. The study adopted a semi-structured questionnaire with qualitative and quantitative data analysis to include a range of public risk regulation organisations from the UK, Germany, France, Belgium and the Netherlands. The results indicated the public risk management organisations mainly use diverse tools and techniques in the risk assessment process. The primary hazard analysis; brainstorming; hazard analysis and critical control points were described as the most practiced risk identification techniques. Within qualitative and quantitative risk analysis, the participants named the expert judgement, risk probability and impact assessment, sensitivity analysis and data gathering and representation as the most practised techniques.
Keywords: Decision-making, public risk management organisations, risk assessment, tools and techniques.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16472001 Soft Cost Elements That Affect Developers’ Decision to Build Green
Authors: Nurul Zahirah M.A., N. Zainul Abidin, Azlan Raofuddin Nuruddin
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Despite all the hype about green building, many developers are still resistant to the idea of building green due to the common perception that green building construction is expensive. This contradicts with scholarly findings that identify only a marginal cost premium or none at all given that green design is considered during the design process and planning stage. Nevertheless, cost implications continue to become an issue when deciding to build green. The planning stage is of strategic importance as decisions made at this early stage would influence the project cost thereafter. Using analysis of existing literature, the paper identifies six elements of soft cost that are considered in the planning stage. The elements include consultants, green building consultant, certification, commissioning, market, and tax. Out of the six elements, commissioning represents the bulk of soft cost for buildings seeking green certification. The study concluded that, although hard cost may have a bigger impact on the project cost, but soft cost is the hidden cost which people tend to ignore. Poor consideration of soft cost during planning stage may lead to over-realistic expectations and ultimately, overlooked cost additions.
Keywords: Green building, cost element, soft cost, developer decision.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19822000 Production Structures of Energy Based on Water Force, Its Infrastructure Protection, and Possible Causes of Failure
Authors: Gabriela-Andreea Despescu, Mădălina-Elena Mavrodin, Gheorghe Lăzăroiu, Florin Adrian Grădinaru
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The purpose of this paper is to contribute to the enhancement of a hydroelectric plant protection by coordinating protection measures / existing security and introducing new measures under a risk management process. In addition, plan identifies key critical elements of a hydroelectric plant, from its level vulnerabilities and threats it is subjected to in order to achieve the necessary protection measures to reduce the level of risk.Keywords: Critical infrastructure, risk analysis, critical infrastructure protection, vulnerability, risk management, turbine, Impact analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15641999 CybeRisk Management in Banks: An Italian Case Study
Authors: E. Cenderelli, E. Bruno, G. Iacoviello, A. Lazzini
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The financial sector is exposed to the risk of cyber-attacks like any other industrial sector. Furthermore, the topic of CybeRisk (cyber risk) has become particularly relevant given that Information Technology (IT) attacks have increased drastically in recent years, and cannot be stopped by single organizations requiring a response at international and national level. IT risk is never a matter purely for the IT manager, although he clearly plays a key role. A bank's risk management function requires a thorough understanding of the evolving risks as well as the tools and practical techniques available to address them. Upon the request of European and national legislation regarding CybeRisk in the financial system, banks are therefore called upon to strengthen the operational model for CybeRisk management. This will require an important change with a more intense collaboration with the structures that deal with information security for the development of an ad hoc system for the evaluation and control of this type of risk. The aim of the work is to propose a framework for the management and control of CybeRisk that will bridge the gap in the literature regarding the understanding and consideration of CybeRisk as an integral part of business management. The IT function has a strong relevance in the management of CybeRisk, which is perceived mainly as operational risk, but with a positive tendency on the part of risk management to the identification of CybeRisk assessment methods that are increasingly complete, quantitative and able to better describe the possible impacts on the business. The paper provides answers to the research questions: Is it possible to define a CybeRisk governance structure able to support the comparison between risk and security? How can the relationships between IT assets be integrated into a cyberisk assessment framework to guarantee a system of protection and risks control? From a methodological point of view, this research uses a case study approach. The choice of “Monte dei Paschi di Siena” was determined by the specific features of one of Italy’s biggest lenders. It is chosen to use an intensive research strategy: an in-depth study of reality. The case study methodology is an empirical approach to explore a complex and current phenomenon that develops over time. The use of cases has also the advantage of allowing the deepening of aspects concerning the "how" and "why" of contemporary events, on which the scholar has little control. The research bases on quantitative data and qualitative information obtained through semi-structured interviews of an open-ended nature and questionnaires to directors, members of the audit committee, risk, IT and compliance managers, and those responsible for internal audit function and anti-money laundering. The added value of the paper can be seen in the development of a framework based on a mapping of IT assets from which it is possible to identify their relationships for purposes of a more effective management and control of cyber risk.
Keywords: Bank, CybeRisk, information technology, risk management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14311998 Exploiting Self-Adaptive Replication Management on Decentralized Tuple Space
Authors: Xing Jiankuan, Qin Zheng, Zhang Jinxue
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Decentralized Tuple Space (DTS) implements tuple space model among a series of decentralized hosts and provides the logical global shared tuple repository. Replication has been introduced to promote performance problem incurred by remote tuple access. In this paper, we propose a replication approach of DTS allowing replication policies self-adapting. The accesses from users or other nodes are monitored and collected to contribute the decision making. The replication policy may be changed if the better performance is expected. The experiments show that this approach suitably adjusts the replication policies, which brings negligible overhead.Keywords: Decentralization, Replication Management, SelfAdaption, Tuple Space.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12181997 Sectoral Energy Consumption in South Africa and Its Implication for Economic Growth
Authors: Kehinde Damilola Ilesanmi, Dev Datt Tewari
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South Africa is in its post-industrial era moving from the primary and secondary sector to the tertiary sector. The study investigated the impact of the disaggregated energy consumption (coal, oil, and electricity) on the primary, secondary and tertiary sectors of the economy between 1980 and 2012 in South Africa. Using vector error correction model, it was established that South Africa is an energy dependent economy, and that energy (especially electricity and oil) is a limiting factor of growth. This implies that implementation of energy conservation policies may hamper economic growth. Output growth is significantly outpacing energy supply, which has necessitated load shedding. To meet up the excess energy demand, there is a need to increase the generating capacity which will necessitate increased investment in the electricity sector as well as strategic steps to increase oil production. There is also need to explore more renewable energy sources, in order to meet the growing energy demand without compromising growth and environmental sustainability. Policy makers should also pursue energy efficiency policies especially at sectoral level of the economy.Keywords: Causality, economic growth, energy consumption, hypothesis, sectoral output.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16561996 Measuring Business and Information Technology Value in BPR: An Empirical Study in the Japanese Enterprises
Authors: Michiko Miyamoto, Shuhei Kudo, Kayo Iizuka
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This paper presents an analysis result of relationship between business and information technology (IT) in business process reengineering (BPR). 258 Japanese firm-level data collected have been analyzed using structural equation modeling. This analysis was aimed to illuminating success factors of achieve effective BPR. Analysis was focused on management factors (including organizational factors) and implementing management method (e.g. balanced score card, internal control, etc.).These results would contribute for achieving effective BPR by showing effective tasks and environment to be focused.Keywords: BPR, SEM, IS Success Model, user satisfaction
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14191995 Need of National Space Legislation for Space Faring Nations
Authors: Muhammad Naveed, Yang Caixia
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The need for national space legislation is pivotal, particularly in light of the fact that in recent years space activities have grown immensely both in volume and diversity. Countries are progressively developing capabilities in space exploration and scientific discoveries, market their capabilities to manufacture satellites, provide launch services from their facilities and are looking to privatize and commercialize their space resources. Today, nations are also seeking to comprehend the technological and financial potential of the private sector and are considering to share their financial burdens with them and to limit their exposures to risks, but they are lagging behind in legal framework in this regard. In the perspective of these emerging developments, it is therefore, felt that national space legislation should be enacted with the goal of building and implementing a vibrant and transparent legal framework at the national level to hasten investments and to ensure growth in this capital intensive - highly yield strategic sector. This study looks at (I) the international legal framework that governs space activities; (II) motivation behind making national space laws; and (III) the need for national space legislation. The paper concludes with some recommendations with regards to the conceivable future direction for national space legislation, in particular space empowered sub-areas for countries.
Keywords: International conventions, national legislation, space faring nation, space law.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12081994 A Reference Framework Integrating Lean and Green Principles within Supply Chain Management
Authors: M. Bortolini, E. Ferrari, F. G. Galizia, C. Mora
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In the last decades, an increasing set of companies adopted lean philosophy to improve their productivity and efficiency promoting the so-called continuous improvement concept, reducing waste of time and cutting off no-value added activities. In parallel, increasing attention rises toward green practice and management through the spread of the green supply chain pattern, to minimise landfilled waste, drained wastewater and pollutant emissions. Starting from a review on contributions deepening lean and green principles applied to supply chain management, the most relevant drivers to measure the performance of industrial processes are pointed out. Specific attention is paid on the role of cost because it is of key importance and it crosses both lean and green principles. This analysis leads to figure out an original reference framework for integrating lean and green principles in designing and managing supply chains. The proposed framework supports the application, to the whole value chain or to parts of it, e.g. distribution network, assembly system, job-shop, storage system etc., of the lean-green integrated perspective. Evidences show that the combination of the lean and green practices lead to great results, higher than the sum of the performances from their separate application. Lean thinking has beneficial effects on green practices and, at the same time, methods allowing environmental savings generate positive effects on time reduction and process quality increase.
Keywords: Environmental sustainability, green supply chain, integrated framework, lean thinking, supply chain management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27841993 Diversity Management of Gender, Age and Disability in the Banking Sector in the Kingdom of Saudi Arabia
Authors: Nada Azhar
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As a developing country, The Kingdom of Saudi Arabia (KSA) needs to make the best possible use of its workforce for social and economic reasons. The workforce is diverse, calling for appropriate diversity management (DM). The thesis focuses on the banking sector in KSA. To date, there have been no studies on DM in the banking sector in this country. Many organizations have introduced specific policies and programmes to improve the recruitment, inclusion, promotion, and retention of diverse employees, in addition to the legal requirements existing in many countries. However, Western-centric models of DM may not be applicable, at least not in their entirety, in other regions.
The aim of the study is to devise a framework for understanding gender, age and disability DM in the banking sector in KSA in order to enhance DM in this sector. A sample of 24 managers, 2 from each of the 12 banks, was interviewed to obtain their views on DM in the banking sector in KSA. Thematic analysis was used to analyze the data. These themes were used to develop the questionnaire, which was administered to 10 managers in each of the 12 banks. After analysis of these data, and completion of the study, the research will make a theoretical contribution to the knowledge on DM and a practical contribution to the management of diversity in Saudi banks. This paper concerns a work in progress.
Keywords: Age, disability, diversity, gender, Kingdom of Saudi Arabia.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 45001992 The Grey Relational Analysis of the Influence Factors of Profit in Cartoon-s Character Merchandising Rights
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This paper constructs a four factors theoretical model of Chinese small and medium enterprises based on the “cartoon characters- reputation - enterprise marketing and management capabilities – protection of the cartoon image - institutional environment" by literature research, case studies and investigation. The empirical study show that the greatest impact on current merchandising rights income is the institutional environment friendliness, followed by marketing and management capabilities, input of character image protection and Cartoon characters- reputation through the real-time grey relational analysis, and the greatest impact on post-merchandising rights profit is Cartoon characters reputation, followed by the institutional environment friendliness, then marketing and management ability and input of character image protection through the time-delay grey relational analysis.
Keywords: Cartoon characters, merchandising rights, influencefactors, grey relational analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15961991 A Study on Vulnerability of Alahsa Governorate to Generate Urban Heat Islands
Authors: Ilham S. M. Elsayed
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The purpose of this study is to investigate Alahsa Governorate status and its vulnerability to generate urban heat islands. Alahsa Governorate is a famous oasis in the Arabic Peninsula including several oil centers. Extensive literature review was done to collect previous relative data on the urban heat island of Alahsa Governorate. Data used for the purpose of this research were collected from authorized bodies who control weather station networks over Alahsa Governorate, Eastern Province, Saudi Arabia. Although, the number of weather station networks within the region is very limited and the analysis using GIS software and its techniques is difficult and limited, the data analyzed confirm an increase in temperature for more than 2 °C from 2004 to 2014. Such increase is considerable whenever human health and comfort are the concern. The increase of temperature within one decade confirms the availability of urban heat islands. The study concludes that, Alahsa Governorate is vulnerable to create urban heat islands and more attention should be drawn to strategic planning of the governorate that is developing with a high pace and considerable increasing levels of urbanization.
Keywords: Urban heat island, Alahsa Governorate, weather station, population density.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11291990 The Urban Project and the Urban Improvement to the Test of the Participation, Case: Project of Modernization of Constantine
Authors: Mouhoubi Nedjima, Sassi Boudemagh Souad
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In the framework of the modernization of the city of Constantine and in order to restore its status as a regional metropolis introducing it into the network of cities international metropolises, has major urban project was launched: project of modernization and of metropolitanization of the city of Constantine. Our research project focuses on the management of the project for the modernization of the city of Constantine (PMMC) focusing on the management of some aspects of the urban project whose participation, with the objective assessment of the managerial approach business. In this contribution, we focus on two cases revealing taken into account in our research work on the question of participation of actors and their organizations. It is "the urban project of modernization of Constantine" and the operation relating to "the urban improvement in the city of the Brothers FERRAD in the district of Zouaghi". This project and this operation with the objective of improving the living conditions of citizens have faced several challenges and obstacles that have been in major part the factors of its failures. Through this study, we examined the management process and the mode of organization of the actors of the project as well as the level of participation of the citizen to finally proposed managerial solutions toconflict situations observed.
Keywords: The urban project, urban improvement, participation, Constantine.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20601989 Sustainable Urban Transport Management and Its Strategies
Authors: Touba Amirazodi
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Rapid process of urbanism development has increased the demand for some infrastructures such as supplying potable water, electricity network and transportation facilities and etc. Nonefficiency of the existing system with parallel managements of urban traffic management has increased the gap between supply and demand of traffic facilities. A sustainable transport system requires some activities more important than air pollution control, traffic or fuel consumption reduction and the studies show that there is no unique solution for solving complicated transportation problems and solving such a problem needs a comprehensive, dynamic and reliable mechanism. Sustainable transport management considers the effects of transportation development on economic efficiency, environmental issues, resources consumption, land use and social justice and helps reduction of environmental effects, increase of transportation system efficiency as well as improvement of social life and aims to enhance efficiency, goods transportation, provide services with minimum access problems that cannot be realized without reorganization of strategies, policies and plans.Keywords: Sustainable Urban Transport, Environment, Social Justice, Air Pollution
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25261988 Improving Cryptographically Generated Address Algorithm in IPv6 Secure Neighbor Discovery Protocol through Trust Management
Authors: M. Moslehpour, S. Khorsandi
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As transition to widespread use of IPv6 addresses has gained momentum, it has been shown to be vulnerable to certain security attacks such as those targeting Neighbor Discovery Protocol (NDP) which provides the address resolution functionality in IPv6. To protect this protocol, Secure Neighbor Discovery (SEND) is introduced. This protocol uses Cryptographically Generated Address (CGA) and asymmetric cryptography as a defense against threats on integrity and identity of NDP. Although SEND protects NDP against attacks, it is computationally intensive due to Hash2 condition in CGA. To improve the CGA computation speed, we parallelized CGA generation process and used the available resources in a trusted network. Furthermore, we focused on the influence of the existence of malicious nodes on the overall load of un-malicious ones in the network. According to the evaluation results, malicious nodes have adverse impacts on the average CGA generation time and on the average number of tries. We utilized a Trust Management that is capable of detecting and isolating the malicious node to remove possible incentives for malicious behavior. We have demonstrated the effectiveness of the Trust Management System in detecting the malicious nodes and hence improving the overall system performance.
Keywords: NDP, SEND, CGA, modifier, malicious node.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12061987 A Strategy to Optimize the SPC Scheme for Mass Production of HDD Arm with ClusteringTechnique and Three-Way Control Chart
Authors: W. Chattinnawat
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Consider a mass production of HDD arms where hundreds of CNC machines are used to manufacturer the HDD arms. According to an overwhelming number of machines and models of arm, construction of separate control chart for monitoring each HDD arm model by each machine is not feasible. This research proposed a strategy to optimize the SPC management on shop floor. The procedure started from identifying the clusters of the machine with similar manufacturing performance using clustering technique. The three way control chart ( I - MR - R ) is then applied to each clustered group of machine. This proposed research has advantageous to the manufacturer in terms of not only better performance of the SPC but also the quality management paradigm.Keywords: Three way control chart. I - MR - R , between/within variation, HDD arm.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16351986 Enhancing Security in Resource Sharing Using Key Holding Mechanism
Authors: M. Victor Jose, V. Seenivasagam
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This paper describes a logical method to enhance security on the grid computing to restrict the misuse of the grid resources. This method is an economic and efficient one to avoid the usage of the special devices. The security issues, techniques and solutions needed to provide a secure grid computing environment are described. A well defined process for security management among the resource accesses and key holding algorithm is also proposed. In this method, the identity management, access control and authorization and authentication are effectively handled.
Keywords: Grid security, Irregular binary series, Key holding mechanism, Resource identity, Secure resource access.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17251985 Collaborative Design System based on Object- Oriented Modeling of Supply Chain Simulation: A Case Study of Thai Jewelry Industry
Authors: Somlak Wannarumon, Apichai Ritvirool, Thana Boonrit
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The paper proposes a new concept in developing collaborative design system. The concept framework involves applying simulation of supply chain management to collaborative design called – 'SCM–Based Design Tool'. The system is developed particularly to support design activities and to integrate all facilities together. The system is aimed to increase design productivity and creativity. Therefore, designers and customers can collaborate by the system since conceptual design. JAG: Jewelry Art Generator based on artificial intelligence techniques is integrated into the system. Moreover, the proposed system can support users as decision tool and data propagation. The system covers since raw material supply until product delivery. Data management and sharing information are visually supported to designers and customers via user interface. The system is developed on Web–assisted product development environment. The prototype system is presented for Thai jewelry industry as a system prototype demonstration, but applicable for other industry.Keywords: Collaborative design, evolutionary art, jewelry design, supply chain management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17441984 Collaborative Design System based on Object-Oriented Modeling of Supply Chain Simulation: A Case Study of Thai Jewelry Industry
Authors: Somlak Wannarumon, Apichai Ritvirool, Thana Boonrit
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The paper proposes a new concept in developing collaborative design system. The concept framework involves applying simulation of supply chain management to collaborative design called – 'SCM–Based Design Tool'. The system is developed particularly to support design activities and to integrate all facilities together. The system is aimed to increase design productivity and creativity. Therefore, designers and customers can collaborate by the system since conceptual design. JAG: Jewelry Art Generator based on artificial intelligence techniques is integrated into the system. Moreover, the proposed system can support users as decision tool and data propagation. The system covers since raw material supply until product delivery. Data management and sharing information are visually supported to designers and customers via user interface. The system is developed on Web–assisted product development environment. The prototype system is presented for Thai jewelry industry as a system prototype demonstration, but applicable for other industry.Keywords: Collaborative design, evolutionary art, jewelry design, supply chain management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15421983 Decomposing the Impact Factors of Energy Consumption of Hotel through LMDI
Authors: Zongjie Du, Shulin Sui, Panpan Xu
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Energy consumption of a hotel can be a hot topic in smart city; it is difficult to evaluate the contribution of impact factors to energy consumption of a hotel. Therefore, grasping the key impact factors has great effect on the energy saving management of a hotel. Based on the SPIRTPAT model, we establish the identity with the impact factors of occupancy rate, unit area of revenue, temperature factor, unit revenue of energy consumption. In this paper, we use the LMDI (Logarithmic Mean Divisia Index) to decompose the impact factors of energy consumption of hotel from Jan. to Dec. in 2001. The results indicate that the occupancy rate and unit area of revenue are the main factors that can increase unit area of energy consumption, and the unit revenue of energy consumption is the main factor to restrain the growth of unit area of energy consumption. When the energy consumption of hotel can appear abnormal, the hotel manager can carry out energy saving management and control according to the contribution value of impact factors.Keywords: Smart city, SPIRTPAT model, LMDI, saving management and control.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14061982 Financial Innovations for Companies Offered by Banks: Polish Experience
Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala
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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the nonfinancial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.Keywords: Banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22591981 Application of IED to Condition Based Maintenance of Medium Voltage GCB/VCB
Authors: Ming-Ta Yang, Jyh-Cherng Gu, Chun-Wei Huang, Jin-Lung Guan
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Time base maintenance (TBM) is conventionally applied by the power utilities to maintain circuit breakers (CBs), transformers, bus bars and cables, which may result in under maintenance or over maintenance. As information and communication technology (ICT) industry develops, the maintenance policies of many power utilities have gradually changed from TBM to condition base maintenance (CBM) to improve system operating efficiency, operation cost and power supply reliability. This paper discusses the feasibility of using intelligent electronic devices (IEDs) to construct a CB CBM management platform. CBs in power substations can be monitored using IEDs with additional logic configuration and wire connections. The CB monitoring data can be sent through intranet to a control center and be analyzed and integrated by the Elipse Power Studio software. Finally, a human-machine interface (HMI) of supervisory control and data acquisition (SCADA) system can be designed to construct a CBM management platform to provide maintenance decision information for the maintenance personnel, management personnel and CB manufacturers.
Keywords: Circuit breaker, Condition base maintenance, Intelligent electronic device, Time base maintenance, SCADA.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22881980 Analysis of Histogram Asymmetry for Waste Recognition
Authors: Janusz Bobulski, Kamila Pasternak
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Despite many years of effort and research, the problem of waste management is still current. There is a lack of fast and effective algorithms for classifying individual waste fractions. Many programs and projects improve statistics on the percentage of waste recycled every year. In these efforts, it is worth using modern Computer Vision techniques supported by artificial intelligence. In the article, we present a method of identifying plastic waste based on the asymmetry analysis of the histogram of the image containing the waste. The method is simple but effective (94%), which allows it to be implemented on devices with low computing power, in particular on microcomputers. Such de-vices will be used both at home and in waste sorting plants.
Keywords: Computer vision, environmental protection, image processing, waste management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3131979 Examination of Pre-Tender Budgeting Techniques for Mechanical and Electrical Services in Malaysia
Authors: Ganiyu Amuda Yusuf, Sarajul Fikri Mohamed
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The procurement and cost management approach adopted for mechanical and electrical (M&E) services in Malaysian construction industry have been criticized for its inefficiency. The study examined early cost estimating practices adopted for mechanical and electrical services (M&E) in Malaysia so as to understand the level of compliance of the current techniques with best practices. The methodology adopted for the study is a review of bidding documents used on both completed and on – going building projects awarded between 2008 – 2010 under 9th Malaysian Plan. The analysis revealed that, M&E services cost cannot be reliably estimated at pre-contract stage; the bidding techniques adopted for M&E services failed to provide uniform basis for contractors to submit tender; detailed measurement of items were not made which could complicate post contract cost control and financial management. The paper concluded that, there is need to follow a structured approach in determining the pre-contract cost estimate for M&E services which will serve as a virile tool for post contract cost control.
Keywords: Cost Management, Mechanical and Electrical Services, Procurement, Standard Method of Measurement
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19101978 Corporate Governance Mechanisms, Whistle-Blowing Policy and Earnings Management Practices of Firms in Malaysia
Authors: Mujeeb Saif Mohsen Al-Absy, Ku Nor Izah Ku Ismail, Sitraselvi Chandren
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This study examines whether corporate governance (CG) mechanisms in firms that have a whistle-blowing policy (WHBLP) are more effective in constraining earnings management (EM), than those without. A sample of 288 Malaysian firms for the years 2013 to 2015, amounting to 864 firm-years were grouped into firms with and without WHBLP. Results show that for firms without WHBLP, the board chairman tenure would minimize EM activities. Meanwhile, for firms with WHBLP, board chairman independence, board chairman tenure, audit committee size, audit committee meeting and women in the audit committees are found to be associated with less EM activities. Further, it is found that ownership concentration and Big 4 auditing firms help to reduce EM activities in firms with WHBLP, while not in firms without WHBLP. Hence, functional and effective governance can be achieved by having a WHBLP, which is in line with agency and resource dependent theories. Therefore, this study suggests that firms should have a WHBLP in place, and policymakers should come up with enhanced criteria to strengthen the mechanisms of WHBLP.
Keywords: Corporate governance, earnings management, whistle-blowing policy, audit committee, board of directors.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12721977 Studying the Relationship between Different Dimensions of CRM and Innovation Capabilities in Melli Bank of Iran
Authors: Peyman Ghafari, Reza Karjalian, Ali Mashayekhnia
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This paper investigates the relationship between different dimensions of customer relationship management and innovation capabilities in Melli Bank of Iran. Five dimensions of CRM include information sharing, customer involvement, long-term partnership, joint problem solving and technology-based CRM are selected to measure their relationship with innovation capabilities including innovation in product, innovation in process, innovation in administrative affairs, innovation in marketing, and finally innovation in services. Research findings indicate that there is significant relationship between CRM dimensions and innovation capabilities in Melli bank of Iran.
Keywords: Customer relationship management, innovation capabilities.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20691976 A Comprehensive Key Performance Indicators Dashboard for Emergency Medical Services
Authors: G. Feletti, D. Tedesco, P. Trucco
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The present study aims to develop a dashboard of Key Performance Indicators (KPI) to enhance information and predictive capabilities in Emergency Medical Services (EMS) systems, supporting both operational and strategic decisions of different actors. The employed research methodology consists of a first phase of revision of the technical-scientific literature concerning the indicators currently in use for the performance measurement of EMS. It emerges that current studies focus on two distinct areas and independent objectives: the ambulance service, a fundamental component of pre-hospital health treatment, and the patient care in the Emergency Department (ED). Conversely, the perspective proposed by this study is to consider an integrated view of the ambulance service process and the ED process, both essential to ensure high quality of care and patient safety. Thus, the proposal covers the end-to-end healthcare service process and, as such, allows considering the interconnection between the two EMS processes, the pre-hospital and hospital ones, connected by the assignment of the patient to a specific ED. In this way, it is possible to optimize the entire patient management. Therefore, attention is paid even to EMS aspects that in current literature tend to be neglected or underestimated. In particular, the integration of the two processes enables to evaluate the advantage of an ED selection decision having visibility on EDs’ saturation status and therefore considering, besides the distance, the available resources and the expected waiting times. Starting from a critical review of the KPIs proposed in extant literature, the design of the dashboard was carried out: the high number of analyzed KPIs was reduced by eliminating firstly the ones not in line with the aim of the study and then the ones supporting a similar functionality. The KPIs finally selected were tested on a realistic dataset, which draw us to exclude additional indicators due to unavailability of data required for their computation. The final dashboard, that was discussed and validated by experts in the field, includes a variety of KPIs able to support operational and planning decisions, early warning, and citizens’ awareness on EDs accessibility in real time. The association of each KPI to the EMS phase it refers to enabled the design of a well-balanced dashboard, covering both efficiency and effectiveness performance objectives of the entire EMS process. Indeed, just the initial phases related to the interconnection between ambulance service and patient care are covered by traditional KPIs. Future developments could be directed to building a hierarchical dashboard, composed by a high-level minimal set of KPIs for measuring the basic performance of the EMS system, at an aggregate level, and lower levels of KPIs that bring additional and more detailed information on specific performance dimensions or EMS phases.
Keywords: Emergency Medical Services, Key Performance Indicators, Dashboard, Decision Support.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4721975 A Study of Current Maintenance Strategies and the Reliability of Critical Medical Equipment in Hospitals in Relation to Patient Outcomes
Authors: Khelood A. Mkalaf, Peter Gibson, John Flanagan
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This study investigates the relationship between the reliability of critical medical equipment (CME) and the effectiveness of CME maintenance management strategies in relation to patient outcomes in 84 public hospitals of a top 20 OECD country. The work has examined the effectiveness of CME maintenance management strategies used by the public hospital system of a large state run health organization. The conceptual framework was designed to examine the significance of the relationship between six variables: (1) types of maintenance management strategies, (2) maintenance services, (3) maintenance practice, (4) medical equipment reliability, (5) maintenance costs and (6) patient outcomes. The results provide interesting insights into the effectiveness of the maintenance strategies used. For example, there appears to be about a 1 in 10 000 probability of failure of anesthesia equipment, but these seem to be confined to specific maintenance situations. There are also some findings in relation to outsourcing of maintenance. For each of the variables listed, results are reported in relation to the various types of maintenance strategies and services. Decision-makers may use these results to evaluate more effective maintenance strategies for their CME and generate more effective patient outcomes.
Keywords: Critical medical equipment, maintenance strategy, patient outcomes, reliability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 49161974 Development of Storm Water Quality Improvement Strategy Plan for Local City Councils in Western Australia
Authors: Ranjan Sarukkalige, Dinushi Gamage
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The aim of this study was to develop a storm water quality improvement strategy plan (WQISP) which assists managers and decision makers of local city councils in enhancing their activities to improve regional water quality. City of Gosnells in Western Australia has been considered as a case study. The procedure on developing the WQISP consists of reviewing existing water quality data, identifying water quality issues in the study areas and developing a decision making tool for the officers, managers and decision makers. It was found that land use type is the main factor affecting the water quality. Therefore, activities, sources and pollutants related to different land use types including residential, industrial, agricultural and commercial are given high importance during the study. Semi-structured interviews were carried out with coordinators of different management sections of the regional councils in order to understand the associated management framework and issues. The issues identified from these interviews were used in preparing the decision making tool. Variables associated with the defined “value versus threat" decision making tool are obtained from the intensive literature review. The main recommendations provided for improvement of water quality in local city councils, include non-structural, structural and management controls and potential impacts of climate change.
Keywords: Storm water quality, Storm water Management, Land use, Strategy plan
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1668