Search results for: Real estate marketing
2308 A Reinforcement Learning Approach for Evaluation of Real-Time Disaster Relief Demand and Network Condition
Authors: Ali Nadi, Ali Edrissi
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Relief demand and transportation links availability is the essential information that is needed for every natural disaster operation. This information is not in hand once a disaster strikes. Relief demand and network condition has been evaluated based on prediction method in related works. Nevertheless, prediction seems to be over or under estimated due to uncertainties and may lead to a failure operation. Therefore, in this paper a stochastic programming model is proposed to evaluate real-time relief demand and network condition at the onset of a natural disaster. To address the time sensitivity of the emergency response, the proposed model uses reinforcement learning for optimization of the total relief assessment time. The proposed model is tested on a real size network problem. The simulation results indicate that the proposed model performs well in the case of collecting real-time information.
Keywords: Disaster management, real-time demand, reinforcement learning, relief demand.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19372307 A General Framework for Modeling Replicated Real-Time Database
Authors: Hala Abdel hameed, Hazem M. El-Bakry, Torky Sultan
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There are many issues that affect modeling and designing real-time databases. One of those issues is maintaining consistency between the actual state of the real-time object of the external environment and its images as reflected by all its replicas distributed over multiple nodes. The need to improve the scalability is another important issue. In this paper, we present a general framework to design a replicated real-time database for small to medium scale systems and maintain all timing constrains. In order to extend the idea for modeling a large scale database, we present a general outline that consider improving the scalability by using an existing static segmentation algorithm applied on the whole database, with the intent to lower the degree of replication, enables segments to have individual degrees of replication with the purpose of avoiding excessive resource usage, which all together contribute in solving the scalability problem for DRTDBS.
Keywords: Database modeling, Distributed database, Real time databases, Replication
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13672306 Hybrid Adaptive Modeling to Enhance Robustness of Real-Time Optimization
Authors: Hussain Syed Asad, Richard Kwok Kit Yuen, Gongsheng Huang
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Real-time optimization has been considered an effective approach for improving energy efficient operation of heating, ventilation, and air-conditioning (HVAC) systems. In model-based real-time optimization, model mismatches cannot be avoided. When model mismatches are significant, the performance of the real-time optimization will be impaired and hence the expected energy saving will be reduced. In this paper, the model mismatches for chiller plant on real-time optimization are considered. In the real-time optimization of the chiller plant, simplified semi-physical or grey box model of chiller is always used, which should be identified using available operation data. To overcome the model mismatches associated with the chiller model, hybrid Genetic Algorithms (HGAs) method is used for online real-time training of the chiller model. HGAs combines Genetic Algorithms (GAs) method (for global search) and traditional optimization method (i.e. faster and more efficient for local search) to avoid conventional hit and trial process of GAs. The identification of model parameters is synthesized as an optimization problem; and the objective function is the Least Square Error between the output from the model and the actual output from the chiller plant. A case study is used to illustrate the implementation of the proposed method. It has been shown that the proposed approach is able to provide reliability in decision making, enhance the robustness of the real-time optimization strategy and improve on energy performance.
Keywords: Energy performance, hybrid adaptive modeling, hybrid genetic algorithms, real-time optimization, heating, ventilation, and air-conditioning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11392305 A Proposed Managerial Framework for International Marketing Operations in the Fast Food Industry
Authors: Emmanuel Selase Asamoah, Miloslava Chovancová
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When choosing marketing strategies for international markets, one of the factors that should be considered is the cultural differences that exist among consumers in different countries. If the branding strategy has to be contextual and in tune with the culture, then the brand positioning variables has to interact, adapt and respond to the cultural variables in which the brand is operating. This study provides an overview of the relevance of culture in the development of an effective branding strategy in the international business environment. Hence, the main objective of this study is to provide a managerial framework for developing strategies for cross cultural brand management. The framework is useful because it incorporates the variables that are important in the competitiveness of fast food enterprises irrespective of their size. It provides practical, proactive and result oriented analysis that will help fast food firms augment their strategies in the international fast food markets. The proposed framework will enable managers understand the intricacies involved in branding in the global fast food industry and decrease the use of 'trial and error' when entering into unfamiliar markets.
Keywords: culture, branding strategy, marketing mix, mass customization, standardization
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26442304 3D Dynamic Representation System for the Human Head
Authors: Laurenţiu Militeanu, Cristina Gena Dascâlu, D. Cristea
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The human head representations usually are based on the morphological – structural components of a real model. Over the time became more and more necessary to achieve full virtual models that comply very rigorous with the specifications of the human anatomy. Still, making and using a model perfectly fitted with the real anatomy is a difficult task, because it requires large hardware resources and significant times for processing. That is why it is necessary to choose the best compromise solution, which keeps the right balance between the details perfection and the resources consumption, in order to obtain facial animations with real-time rendering. We will present here the way in which we achieved such a 3D system that we intend to use as a base point in order to create facial animations with real-time rendering, used in medicine to find and to identify different types of pathologies.Keywords: 3D models, virtual reality.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14562303 Empirical Study of Real Retail Trade Turnover
Authors: J. Arneric, E. Jurun, L. Kordic
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This paper deals with econometric analysis of real retail trade turnover. It is a part of an extensive scientific research about modern trends in Croatian national economy. At the end of the period of transition economy, Croatia confronts with challenges and problems of high consumption society. In such environment as crucial economic variables: real retail trade turnover, average monthly real wages and household loans are chosen for consequence analysis. For the purpose of complete procedure of multiple econometric analysis data base adjustment has been provided. Namely, it has been necessary to deflate original national statistics data of retail trade turnover using consumer price indices, as well as provide process of seasonally adjustment of its contemporary behavior. In model establishment it has been necessary to involve the overcoming procedure for the autocorrelation and colinearity problems. Moreover, for case of time-series shift a specific appropriate econometric instrument has been applied. It would be emphasize that the whole methodology procedure is based on the real Croatian national economy time-series.Keywords: Consumption society, multiple econometric model, real retail trade turnover, second order autocorrelation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14682302 Analyzing the Participation of Young People in Politics: An Exploratory Study Applied on Motivation in Croatia
Authors: Valentina Piric, Maja Martinovic, Zoran Barac
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The application of marketing to the domain of politics has become relevant in recent times. With this article the authors wanted to explore the issue of the current political engagement among young people in Croatia. The question is what makes young people (age 18-30) politically active in young democracies such as that of the Republic of Croatia. Therefore, the objective of this study was to discover the real or hidden motivations behind the decision to actively participate in politics among young members of the two largest political parties in the country – the Croatian Democratic Union and the Social Democratic Party of Croatia. The study expected to find that the motivation for political engagement of young people is often connected with a possible achievement of individual goals and egoistic needs such as: self-acceptance, social success, financial success, prestige, reputation, status, recognition from the others etc. It was also expected that, due to the poor economic and social situation in the country, young people feel an increasing disconnection from politics. Additionally, the authors expected to find that there is a huge potential to engage young people in the political life of the country through a proper and more interactive use of marketing communication campaigns and social media platforms, with an emphasis on highly ethical motives of political activity and their benefits to society. All respondents included in the quantitative survey (sample size [N=100]) are active in one of the two largest political parties in Croatia. The sampling and distribution of the survey occurred in the field in September 2016. The results of the survey demonstrate that in Croatia, the way young people feel about politics and act accordingly, are in fact similar to what the theory describes. The research findings reveal that young people are politically active; however, the challenge is to find a way to motivate even more young people in Croatia to actively participate in the political and democratic processes in the country and to encourage them to see additional benefits out of this practice, not only related to their individual motives, but related more to the well-being of Croatia as a country and of every member of society. The research also discovered a huge potential for political marketing communication possibilities, especially related to interactive social media. It is possible that the social media channels have a stronger influence on the decision-making process among young people when compared to groups of reference. The level of interest in politics among young Croatians varies; some of them are almost indifferent, whilst others express a serious interest in different ways to actively contribute to the political life of the country, defining a participation in the political life of their country almost as their moral obligation. However, additional observations and further research need to be conducted to get a clearer and more precise picture about the interest in politics among young people in Croatia and their social potential.
Keywords: Croatia, marketing communication, motivation, politics, young people.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14742301 Integrating Hedgerow into Town Planning: A Framework for Sustainable Residential Development
Authors: Siqing Chen
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The vast rural landscape in the southern United States is conspicuously characterized by the hedgerow trees or groves. The patchwork landscape of fields surrounded by high hedgerows is a traditional and familiar feature of the American countryside. Hedgerows are in effect linear strips of trees, groves, or woodlands, which are often critical habitats for wildlife and important for the visual quality of the landscape. As landscape interfaces, hedgerows define the spaces in the landscape, give the landscape life and meaning, and enrich ecologies and cultural heritages of the American countryside. Although hedgerows were originally intended as fences and to mark property and townland boundaries, they are not merely the natural or man-made additions to the landscape--they have gradually become “naturalized" into the landscape, deeply rooted in the rural culture, and now formed an important component of the southern American rural environment. However, due to the ever expanding real estate industry and high demand for new residential development, substantial areas of authentic hedgerow landscape in the southern United States are being urbanized. Using Hudson Farm as an example, this study illustrated guidelines of how hedgerows can be integrated into town planning as green infrastructure and landscape interface to innovate and direct sustainable land use, and suggest ways in which such vernacular landscapes can be preserved and integrated into new development without losing their contextual inspiration.Keywords: Hedgerow, Town planning, Sustainable design, Ecological infrastructure
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16702300 Valuation of Green Commercial Office Building: A Preliminary Study of Malaysian Valuers’ Insight
Authors: Tuti Haryati Jasimin, Hishamuddin Mohd Ali
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Malaysia’s green building development is gaining momentum and green buildings have become a key focus area, especially within the commercial sector with the encouragement of government legislation and policy. Due to the emerging awareness among the market players’ views of the benefits associated with the ownership of green buildings in Malaysia, there is a need for valuers to incorporate consideration of sustainability into their assessments of property market value to ensure the green buildings continue to increase in the market. This paper analyses the valuers’ current perception on the valuation practices with regard to the green issues in Malaysia. The study was based on a survey of registered real estate valuers and the experts whose work related to valuation in the Klang Valley area to rate their view regarding the perception on valuation of green building. The findings present evidence that even though Malaysian valuers have limited knowledge of green buildings, they recognise the importance of incorporating the green features in the valuation process. The inclusion of incorporating the green features in valuations in practice was hindered by the inadequacy of sufficient transaction data in the market. Furthermore, valuers experienced difficulty in identifying what are the various input parameters of green building and how to adjust it in order to reflect the benefit of sustainability features correctly in the valuation process. This paper focuses on the present challenges confronted by Malaysian valuers with regards to incorporating the green features in their valuation.Keywords: Green commercial office building, Malaysia, valuers’ perception, valuation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 29752299 Gamification as a Tool for Influencing Customers' Behaviour
Authors: B. Zatwarnicka-Madura
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The objective of the article was to identify the impacts of gamification on customers' behaviour. The most important applications of games in marketing and mechanisms of gamification are presented in the article. A detailed analysis of the influence of gamification on customers using two brands, Foursquare and Nike, was also presented. Research studies using auditory survey methods were carried out among 176 young respondents, who are potential targets of gamification. The studies confirmed a huge participation of young people in customer loyalty programs with relatively low participation in other gamificationbased marketing activities. The research findings clearly indicate that gamification mechanisms are the most attractive.
Keywords: Customer loyalty, games, gamification, social aspects.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 24162298 Drivers of Customer Satisfaction in an Industrial Company from Marketing Aspect
Authors: M. Arefi, A.M. Amini, K. Fallahi
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One of the basic concepts in marketing is the concept of meeting customers- needs. Since customer satisfaction is essential for lasting survival and development of a business, screening and observing customer satisfaction and recognizing its underlying factors must be one of the key activities of every business. The purpose of this study is to recognize the drivers that effect customer satisfaction in a business-to-business situation in order to improve marketing activities. We conducted a survey in which 93 business customers of a manufacturer of Diesel Generator in Iran participated and they talked about their ideas and satisfaction of supplier-s services related to its products. We developed the measures for drivers of satisfaction first by as investigative research (by means of feedback from executives and customers of sponsoring firm). Then based on these measures, we created a mail survey, and asked the respondents to explain their opinion about the sponsoring firm which was a supplier of diesel generator and similar products. Furthermore, the survey required the participants to mention their functional areas and their company features. In Conclusion we found that there are three drivers for customer satisfaction, which are reliability, information about product, and commercial features. Buyers/users from different functional areas attribute different degree of importance to the last two drivers. For instance, people from buying and management areas believe that commercial features are more important than information about products. But people in engineering, maintenance and production areas believe that having information about products is more important than commercial aspects. Marketing experts should consider the attribute of customers regarding information about the product and commercial features to improve market share.Keywords: B2B, Customer satisfaction, Commercial, Industry.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26832297 Design of Real Time Early Response Systems for Natural Disaster Management Based On Automation and Control Technologies
Authors: C. Pacheco, A. Cipriano
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A new concept of response system is proposed for filling the gap that exists in reducing vulnerability during immediate response to natural disasters. Real Time Early Response Systems (RTERSs) incorporate real time information as feedback data for closing control loop and for generating real time situation assessment. A review of the state of the art on works that fit the concept of RTERS is presented, and it is found that they are mainly focused on manmade disasters. At the same time, in response phase of natural disaster management many works are involved in creating early warning systems, but just few efforts have been put on deciding what to do once an alarm is activated. In this context a RTERS arises as a useful tool for supporting people in their decision making process during natural disasters after an event is detected, and also as an innovative context for applying well-known automation technologies and automatic control concepts and tools.
Keywords: Disaster management, emergency response system, natural disasters, real time.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 35812296 Identifying Business Incubators Based on Their Real Activities: Evidence from China
Authors: Lu Wei, Yunhao Zhu, Ping Deng, Wentao Yu
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Past literature on business incubators distinguished incubators based on their mission statements. However, more and more mission statements become a slogan rather than a reality. It is therefore more appropriate to identify business incubators based on their real activities, rather than the missions they declared. With a sample of technology business incubators (TBIs) in China, we try to investigate business incubators’ real activities by examining the incubation efficiency along the following five dimensions, i.e., survival of new ventures, technology transfer, local economic growth, job creation, and profit generation. Furthermore, we identified six types of business incubators. The results indicate that generally Chinese TBIs have a greater preference for acquiring profits over other dimensions.
Keywords: Business incubators, mission statements, real activities, incubation efficiency, technology business incubators, China.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14792295 Thai Halal Products Brand Tips
Authors: Pibool Waijittragum
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The purpose of this research is to analyze the marketing strategies of Thai Halal products which related to the way of life for Thai Muslims. The expected benefit is the marketing strategy for brand building process for Halal products in Thailand. 4 elements of marketing strategies which necessary for the brand identity creation is the research framework: consists of Attributes, Benefits, Values and Personality. The research methodology was applied using qualitative and quantitative; 19 marketing experts with dynamic roles in Thai consumer products were interviewed. In addition, a field survey of 122 Thai Muslims selected from 175 Muslim communities in Bangkok was studied. Data analysis will be according to 5 categories of Thai Halal product: 1) Meat 2) Vegetable and Fruits 3) Instant foods and Garnishing ingredient 4) Beverages, Desserts and Snacks 5) Hygienic daily products; such as soap, shampoo and body lotion.
Keywords: Marketing strategies, Product identity, Branding, Thai Halal products.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22602294 Iranian Bazaars: The Illustration of Stable Thoughts
Authors: Aida Amirazodi
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"Bazaar" is a Persian word from the language of Iranians of 2500 years ago which has entered the languages of other countries. “Bazaar", the trading or marketing place with the architectural principles and concerns, was formed in Iran because of the long experience of marketing. This has become a valuable inheritance of Islamic ideological civilization and Iranian advanced architecture and a model of Islamic-marketing places with spectacular elements and parts, and the place for economical, social and cultural exchanges. “Bazaars" are found in cities of Iran and many Islamic countries in west of Asia and north of Africa. With the stable structure and function as a symbol of social values, this place has become the economic center and the illustration of stable architecture and advanced principles. “Bazaars" as the heart of Iranian cities economy with several major and minor rows of shops, in closed and open areas, along a fixed line or branches with beautiful arcs, patios, and frameworks are among the main national inheritance of Iran and one of the important Iranian architectural treasures because of its Iranian nobility.
Keywords: Traditional Bazaar, Form of Bazaar, Iranian Architecture
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17482293 Real-Time Data Stream Partitioning over a Sliding Window in Real-Time Spatial Big Data
Authors: Sana Hamdi, Emna Bouazizi, Sami Faiz
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In recent years, real-time spatial applications, like location-aware services and traffic monitoring, have become more and more important. Such applications result dynamic environments where data as well as queries are continuously moving. As a result, there is a tremendous amount of real-time spatial data generated every day. The growth of the data volume seems to outspeed the advance of our computing infrastructure. For instance, in real-time spatial Big Data, users expect to receive the results of each query within a short time period without holding in account the load of the system. But with a huge amount of real-time spatial data generated, the system performance degrades rapidly especially in overload situations. To solve this problem, we propose the use of data partitioning as an optimization technique. Traditional horizontal and vertical partitioning can increase the performance of the system and simplify data management. But they remain insufficient for real-time spatial Big data; they can’t deal with real-time and stream queries efficiently. Thus, in this paper, we propose a novel data partitioning approach for real-time spatial Big data named VPA-RTSBD (Vertical Partitioning Approach for Real-Time Spatial Big data). This contribution is an implementation of the Matching algorithm for traditional vertical partitioning. We find, firstly, the optimal attribute sequence by the use of Matching algorithm. Then, we propose a new cost model used for database partitioning, for keeping the data amount of each partition more balanced limit and for providing a parallel execution guarantees for the most frequent queries. VPA-RTSBD aims to obtain a real-time partitioning scheme and deals with stream data. It improves the performance of query execution by maximizing the degree of parallel execution. This affects QoS (Quality Of Service) improvement in real-time spatial Big Data especially with a huge volume of stream data. The performance of our contribution is evaluated via simulation experiments. The results show that the proposed algorithm is both efficient and scalable, and that it outperforms comparable algorithms.Keywords: Real-Time Spatial Big Data, Quality Of Service, Vertical partitioning, Horizontal partitioning, Matching algorithm, Hamming distance, Stream query.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10562292 Studying the Influence of Logistics on Organizational Performance through a Supply Chain Strategy: Case Study in Goldiran Electronics Co.
Authors: Ali Hajiesmaeili, Mehdi Rahimi, Ehsan Jaberi, Amir Abbas Hosseini
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The purpose of this study is investigating the influences of logistics performance on organizational performance including both marketing & financial aspects, and showing the financial impacts of selecting the right marketing and logistics priorities in line with their supply chain type, and also giving the practitioners an advance identification of their priorities and participation types of supply chain, and the best combination of their strategies and resources in this regard. We made use of the original model’s questionnaire to gather all expert’s data and also SPSS and AMOS Ver.22 to analyze the gathered data. CFA method was also used to test whether a relationship between observed variables and their underlying latent constructs exists. Supply chain strategy implementation leads to logistics performance improvement, and marketing performance will be affected as well. Logistics service providers should focus on enhancement of supply chain performance, since logistics performance has been considered as a basis of evaluation of supply chain management strategy. Consequently, performance of the organization will be enhanced. This case is the first research made in Iran that analyzes the relationship between Logistics & Organizational performance in Home Appliances and Home Entertainment companies.
Keywords: Logistics, organizational performance, supply chain, supply chain strategy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 35522291 Sensitivity Analysis of Real-Time Systems
Authors: Benjamin Gorry, Andrew Ireland, Peter King
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Verification of real-time software systems can be expensive in terms of time and resources. Testing is the main method of proving correctness but has been shown to be a long and time consuming process. Everyday engineers are usually unwilling to adopt formal approaches to correctness because of the overhead associated with developing their knowledge of such techniques. Performance modelling techniques allow systems to be evaluated with respect to timing constraints. This paper describes PARTES, a framework which guides the extraction of performance models from programs written in an annotated subset of C.Keywords: Performance Modelling, Real-time, SensitivityAnalysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15132290 A Real-Time Tracking System Developed for an Interactive Stage Performance
Authors: S. Hu, J. Mortensen, Bernard F. Buxton
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A real-time tracking system was built to track performers on an interactive stage. Using an ordinary, up to date, desktop workstation, the performers- silhouette was segmented from the background and parameterized by calculating the normalized central image moments. In the stage system, the silhouette moments were then sent to a parallel workstation, which used them to generate corresponding 3D virtual geometry and projected the generated graphic back onto the stage.
Keywords: Image moment, interactive stage, real-time, silhouette.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12182289 Brand Identity Creation for Thai Halal Brands
Authors: Pibool Waijittragum
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The purpose of this paper is to synthesize the research result of brand Identities of Thai Halal brands which related to the way of life for Thai Muslims. The results will be transforming to Thai Halal Brands packaging and label design. The expected benefit is an alternative of marketing strategy for brand building process for Halal products in Thailand. Four elements of marketing strategies which necessary for the brand identity creation is the research framework: consists of Attributes, Benefits, Values and Personality. The research methodology was applied using qualitative and quantitative; 19 marketing experts with dynamic roles in Thai consumer products were interviewed. In addition, a field survey of 122 Thai Muslims selected from 175 Muslim communities in Bangkok was studied. Data analysis will be according to 5 categories of Thai Halal product: 1) Meat 2) Vegetable and Fruits 3) Instant foods and Garnishing ingredient 4) Beverages, Desserts and Snacks 5) Hygienic daily products.
The results will explain some suitable approach for brand Identities of Thai Halal brands as are: 1) Benefit approach as the characteristics of the product with its benefit. The brand identity created transform to the packaging design should be clear and display a fresh product 2) Value approach as the value of products that affect to consumers’ perception. The brand identity created transform to the packaging design should be simply look and using a trustful image 3) Personality approach as the reflection of consumers thought. The brand identity created transform to the packaging design should be sincere, enjoyable, merry, flamboyant look and using a humoristic image.
Keywords: Marketing strategies, Brand identity, Packaging and Label Design, Thai Halal products.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22212288 The Application of Real Options to Capital Budgeting
Authors: George Yungchih Wang
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Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.
Keywords: real options, capital budgeting, geometric Brownianmotion, mixed diffusion-jump, mean-reverting process
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27702287 Real-Time Image Analysis of Capsule Endoscopy for Bleeding Discrimination in Embedded System Platform
Authors: Yong-Gyu Lee, Gilwon Yoon
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Image processing for capsule endoscopy requires large memory and it takes hours for diagnosis since operation time is normally more than 8 hours. A real-time analysis algorithm of capsule images can be clinically very useful. It can differentiate abnormal tissue from health structure and provide with correlation information among the images. Bleeding is our interest in this regard and we propose a method of detecting frames with potential bleeding in real-time. Our detection algorithm is based on statistical analysis and the shapes of bleeding spots. We tested our algorithm with 30 cases of capsule endoscopy in the digestive track. Results were excellent where a sensitivity of 99% and a specificity of 97% were achieved in detecting the image frames with bleeding spots.Keywords: bleeding, capsule endoscopy, image processing, real time analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18752286 The Fit Effect Model among Facilitating Factors on Service Innovation Performance
Authors: Yue-Yang Chen, Hui-Ling Huang, Wan-Yu Yu, Chung-Lun Wei
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In recent years, though, the concept of fit has been now in widespread used in strategic management research, it is in its infancy for applying fit concept to service innovation issue. Therefore, drawing on the concept of fit, this present research proposed an innovation service fit model within service innovation, market orientation, marketing strategy, and IT adoption are coexisted. The perspective of fit as covariation will be employed to test the hypothesis and identify the effects of fit. We contend that the fit among these four factors will contribution to business performance. Finally, according to the empirical data collected from manufacturing, service, and financial industry in Taiwan, meaningful findings and conclusions will be proposed and discussed.Keywords: Service innovation, market orientation, IT adoption, marketing strategy, fit
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16552285 Entrepreneurship and the Discovery and Exploitation of Business Opportunities: Empirical Evidence from the Malawian Tourism Sector
Authors: Aravind Mohan Krishnan
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This paper identifies a research gap in the literature on tourism entrepreneurship in Malawi, Africa, and investigates how entrepreneurs from the Malawian tourism sector discover and exploit business opportunities. In particular, the importance of prior experience and business networks in the opportunity development process is debated. Another area of empirical research examined here is the opportunity recognition-venture creation sequence. While Malawi presents fruitful business opportunities, exploiting these opportunities into fully realized business ideas is a real challenge due to the country’s difficult business environment and poor promotional and marketing efforts. The study concludes by calling for further research in Sub-Saharan Africa in order to develop our understanding of entrepreneurship in this (African) context.
Keywords: Tourism, entrepreneurship, Malawi, business opportunities.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23492284 Customers’ Perception towards the Service Marketing Mix and Frequency of Use of Mercedes Benz Automobile Service, Thailand
Authors: Pranee Tridhoskul
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This research paper is aimed to examine a relationship between the service marketing mix and customers’ frequency of use of service at Mercedes Benz Auto Repair Centres under Thonburi Group, Thailand. Based on 2,267 customers who used the service of Thonburi Group’s Auto Repair Centres as the population, the sampling of this research was a total of 340 samples, by use of Probability Sampling Technique. Systematic Random Sampling was applied by use of questionnaire in collecting the data at Thonburi Group’s Auto Repair Centres. Mean and Pearson’s basic statistical correlations were utilized in analyzing the data. The study discovered a medium level of customers’ perception towards product and service of Thonburi Group’s Auto Repair Centres, price, place or distribution channel and promotion. People who provided service were perceived also at a medium level, whereas the physical evidence and service process were perceived at a high level. Furthermore, there appeared a correlation between the physical evidence and service process, and customers’ frequency of use of automobile service per year.
Keywords: Service Marketing Mix, Behavior, Mercedes Auto Service Centre.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 29662283 Development of an Autonomous Greenhouse Gas Monitoring System
Authors: Breda M. Kiernan, Cormac Fay, Stephen Beirne, Dermot Diamond
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This paper describes the designs of a first and second generation autonomous gas monitoring system and the successful field trial of the final system (2nd generation). Infrared sensing technology is used to detect and measure the greenhouse gases methane (CH4) and carbon dioxide (CO2) at point sources. The ability to monitor real-time events is further enhanced through the implementation of both GSM and Bluetooth technologies to communicate these data in real-time. These systems are robust, reliable and a necessary tool where the monitoring of gas events in real-time are needed.Keywords: Environmental monitoring, infrared sensing, autonomous system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22522282 Tracking Activity of Real Individuals in Web Logs
Authors: Sándor Juhász, Renáta Iváncsy
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This paper describes an enhanced cookie-based method for counting the visitors of web sites by using a web log processing system that aims to cope with the ambitious goal of creating countrywide statistics about the browsing practices of real human individuals. The focus is put on describing a new more efficient way of detecting human beings behind web users by placing different identifiers on the client computers. We briefly introduce our processing system designed to handle the massive amount of data records continuously gathered from the most important content providers of the Hungary. We conclude by showing statistics of different time spans comparing the efficiency of multiple visitor counting methods to the one presented here, and some interesting charts about content providers and web usage based on real data recorded in 2007 will also be presented.Keywords: Cookie based identification, real data, user activitytracking, web auditing, web log processing
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13142281 HERMES System: a Virtual Reality Simulator for the Angioplasty Intervention Training
Authors: Giovanni Aloisio, Lucio T. De Paolis, Luciana Provenzano, Lucio Colizzi, Gianluca Pantile
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One of the essential requirements in order to have a realistic surgical simulator is real-time interaction by means of a haptic interface is. In fact, reproducing haptic sensations increases the realism of the simulation. However, the interaction need to be performed in real-time, since a delay between the user action and the system reaction reduces the user immersion. In this paper, we present a prototype of the coronary stent implant simulator developed in the HERMES Project; this system allows real-time interactions with a artery by means of a specific haptic device; thus the user can interactively navigate in a reconstructed artery and force feedback is produced when contact occurs between the artery walls and the medical instrumentsKeywords: Collision Detection, Haptic Interface, Real-Time Interaction, Surgical Simulator.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20672280 An Agent-Based Scheduling Framework for Flexible Manufacturing Systems
Authors: Iman Badr
Abstract:
The concept of flexible manufacturing is highly appealing in gaining a competitive edge in the market by quickly adapting to the changing customer needs. Scheduling jobs on flexible manufacturing systems (FMSs) is a challenging task of managing the available flexibility on the shop floor to react to the dynamics of the environment in real-time. In this paper, an agent-oriented scheduling framework that can be integrated with a real or a simulated FMS is proposed. This framework works in stochastic environments with a dynamic model of job arrival. It supports a hierarchical cooperative scheduling that builds on the available flexibility of the shop floor. Testing the framework on a model of a real FMS showed the capability of the proposed approach to overcome the drawbacks of the conventional approaches and maintain a near optimal solution despite the dynamics of the operational environment.Keywords: Autonomous agents, Flexible manufacturing systems(FMS), Manufacturing scheduling, Real-time systems.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18192279 Analyzing the Effects of Resource Relatedness on Strategic Alliances Performance
Abstract:
Very few studies have examined performance implications of strategic alliance announcements in the information technologies industry from a resource-based view. Furthermore, none of these studies have investigated resource congruence and alliance motive as potential sources of abnormal firm performance. This paper extends upon current resource-based literature to discover and explore linkages between these concepts and the practical performance of strategic alliances. This study finds that strategic alliance announcements have provided overall abnormal positive returns, and that marketing alliances with marketing resource incongruence have also contributed to significant firm performance.Keywords: Event study methodology, resource-based theory, resource relatedness, strategic alliance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1642