Search results for: Business Rules

Authors: Pavel Y. Tabakov, Kevin Duffy

Abstract:

The present study presents a new approach to automatic data clustering and classification problems in large and complex databases and, at the same time, derives specific types of explicit rules describing each cluster. The method works well in both sparse and dense multidimensional data spaces. The members of the data space can be of the same nature or represent different classes. A number of N-dimensional ellipsoids are used for enclosing the data clouds. Due to the geometry of an ellipsoid and its free rotation in space the detection of clusters becomes very efficient. The method is based on genetic algorithms that are used for the optimization of location, orientation and geometric characteristics of the hyper-ellipsoids. The proposed approach can serve as a basis for the development of general knowledge systems for discovering hidden knowledge and unexpected patterns and rules in various large databases.

Keywords: Classification, clustering, data minig, genetic algorithms.

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Authors: Alireza Ghasemizad

Abstract:

In Both developed and developing countries, governments play a basic role in making policies, programs and instruments which support the development of micro, small and medium enterprises. One of the mechanisms employed to nurture small firms for more than two decades is business incubation. One of the mechanisms employed to nurture small firms for more than two decades is technology business incubation. The main aim of this research was to establish influencing factors in Technology Business Incubator's effectiveness and their explanatory model. Therefore, among 56 Technology Business Incubators in Iran, 32 active incubators were selected and by stratified random sampling, 528 start-ups were chosen. The validity of research questionnaires was determines by expert consensus, item analysis and factor analysis; and their reliability calculated by Cronbach-s alpha. Data analysis was then made through SPSS and LISREL soft wares. Both organizational procedures and entrepreneurial behaviors were the meaningful mediators. Organizational procedures with (P < .01, β =0.45) was stronger mediator for the improvement of Technology Business Incubator's effectiveness comparing to entrepreneurial behavior with (P < .01, β =0.36).

Keywords: Technology, Incubators, Effectiveness, Explanatorymodel.

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Authors: Anand Dass, Hiroaki Murakami

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The paper outlines the drivers behind the movement from products to solutions in the Hi-Tech Business-to-Business markets. The paper lists out the challenges in enabling the transformation from products to solutions and also attempts to explore strategic and operational recommendations based on the authors- factual experiences with Japanese Hi-tech manufacturing organizations. Organizations in the Hi-Tech Business-to-Business markets are increasingly being compelled to move to a solutions model from the conventional products model. Despite the added complexity of solutions, successful technology commercialization can be achieved by making prudent choices in defining a relevant solutions model, by backing the solution model through appropriate organizational design, and by overhauling the new product development process and supporting infrastructure.

Keywords: Technology commercialization, Solutions, Hi-Tech companies, Japan, Management of technology

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Authors: Le Hieu Giang, Truong Nguyen Luan Vu, Le Linh

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In this paper, the analytical tuning rules of IMC-PID controller are presented for the multivariable Smith predictor that involved the ideal decoupling. Accordingly, the decoupler is first introduced into the multivariable Smith predictor control system by a well-known approach of ideal decoupling, which is compactly extended for general nxn multivariable processes and the multivariable Smith predictor controller is then obtained in terms of the multiple single-loop Smith predictor controllers. The tuning rules of PID controller in series with filter are found by using Maclaurin approximation. Many multivariable industrial processes are employed to demonstrate the simplicity and effectiveness of the presented method. The simulation results show the superior performances of presented method in compared with the other methods.

Keywords: Ideal decoupler, IMC-PID controller, multivariable Smith predictor, Maclaurin approximation.

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Authors: Pavel Adámek

Abstract:

The concept of corporate social responsibility (CSR) in the Czech Republic has evolved notably during the last few years and an issue that started as an interest- and motive-based activity for businesses is becoming more commonplace. Governments have a role to play in ensuring that corporations behave according to the rules and norms of society and can legislate, foster, collaborate with businesses and endorse good practice in order to facilitate the development of CSR. The purpose of this paper is to examine the opportunities and options of CSR in government policy and research its relevance to a business sector. An increasing number of companies is engaging in responsible activities, the public awareness of CSR is rising, and customers are giving higher importance to CSR of companies in their choice. By drawing on existing CSR approach in Czech and understanding of CSR are demonstrated. The paper provides an overview, more detailed government approach of CSR.

Keywords: Approach, corporate social responsibility, government policy, instruments.

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Authors: Mahadevan Supramaniam, Mudiarasan Kuppusamy

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In order to survive in a rapidly changing business environment, Malaysian business firms must improve their own business practices and procedures. This paper describes the impact of Critical Success Factors (CSFs) during the Enterprise Resource Planning (ERP) system implementations using the responses from 151 organizations that completed or are in the process of completing an ERP implementation and identifying the key benefits of ERP implementation in the firm. The importance of these factors was investigated within Malaysian companies using questionnaire survey method. Our results provide advice to management on how best to utilize their limited resources to choose those CSFs that are most likely to have an impact upon the implementation of the ERP system.

Keywords: Critical Success Factors (CSFs), Enterprise Resource Planning (ERP), system, vendor.

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Authors: Jae-Min Yu, Hyoung-Ho Doh, Ji-Su Kim, Dong-Ho Lee, Sung-Ho Nam

Abstract:

A reconfigurable manufacturing system (RMS) is an advanced system designed at the outset for rapid changes in its hardware and software components in order to quickly adjust its production capacity and functionally. Among various operational decisions, this study considers the scheduling problem that determines the input sequence and schedule at the same time for a given set of parts. In particular, we consider the practical constraints that the numbers of pallets/fixtures are limited and hence a part can be released into the system only when the fixture required for the part is available. To solve the integrated input sequencing and scheduling problems, we suggest a priority rule based approach in which the two sub-problems are solved using a combination of priority rules. To show the effectiveness of various rule combinations, a simulation experiment was done on the data for a real RMS, and the test results are reported.

Keywords: Reconfigurable manufacturing system, scheduling, priority rules, multiple process plans, pallets/fixtures

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Authors: Hassan M. Elragal

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This paper discusses a method for improving accuracy of fuzzy-rule-based classifiers using particle swarm optimization (PSO). Two different fuzzy classifiers are considered and optimized. The first classifier is based on Mamdani fuzzy inference system (M_PSO fuzzy classifier). The second classifier is based on Takagi- Sugeno fuzzy inference system (TS_PSO fuzzy classifier). The parameters of the proposed fuzzy classifiers including premise (antecedent) parameters, consequent parameters and structure of fuzzy rules are optimized using PSO. Experimental results show that higher classification accuracy can be obtained with a lower number of fuzzy rules by using the proposed PSO fuzzy classifiers. The performances of M_PSO and TS_PSO fuzzy classifiers are compared to other fuzzy based classifiers

Keywords: Fuzzy classifier, Optimization of fuzzy systemparameters, Particle swarm optimization, Pattern classification.

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Authors: Tang Mui Joo, Chan Eang Teng

Abstract:

The use of social media has become more defined. It has been widely used for the purpose of business. More marketers are now using social media as tools to enhance their businesses. Whereas on the other hand, there are more and more people spending their time through mobile apps to be engaged in the social media sites like YouTube, Facebook, Twitter and others. Social media has even become common in Public Relations (PR). It has become number one platform for creating and sharing content. In view to this, social media has changed the rules in PR where it brings new challenges and opportunities to the profession. Although corporate websites, chat-rooms, email customer response facilities and electronic news release distribution are now viewed as standard aspects of PR practice, many PR practitioners are still struggling with the impact of new media though the implementation of social media is potentially reducing the cost of communication. It is to the point that PR practitioners are not fully embracing new media, they are ill-equipped to do so and they have a fear of the technology. Somehow that social media has become a new style of communication that is characterized by conversation and community. It has become a platform that allows individuals to interact with one another and build relationship among each other. Therefore, in the use of business world, consumers are able to interact with those companies that have joined any social media. Based on their experiences with social networking site interactions, they are also exposed to personal interaction while communicating. This paper is to study the impact of social media to PR. This paper discovers the potential changes of PR practices in a developing country like Malaysia. Eventually the study reflects on how PR practitioners are actually using social media in the country. This paper is based on two theories in its development of this research foundation. Media Ecology Theory is to support the impact and changes to PR. Social Penetration Theory is to reflect on how the use of social media is among PRs. This research is using survey with PR practitioners in its data collection. The results have shown that PR professionals value social media more than they actually use it and the way of organizations communicate had been changed due to the transformation of social media.

Keywords: New media, social media, PR.

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Authors: F. Di Pillo, G. Capece, L. Cricelli, N. Levialdi

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The liberalization and privatization processes have forced public utility companies to face new competitive challenges, implementing strategies to gain market share and, at the same time, keep the old customers. To this end, many companies have carried out mergers, acquisitions and conglomerations in order to diversify their business. This paper focuses on companies operating in the free energy market in Italy. In the last decade, this sector has undergone profound changes that have radically changed the competitive scenario and have led companies to implement diversification strategies of the business. Our work aims to evaluate the economic and financial performances obtained by energy companies, following the beginning of the liberalization process, verifying the possible relationship with the implemented diversification strategies.

Keywords: Business diversification strategies, M&A, the Italian energy market liberalization, economic and financial performances.

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Authors: Wijittra Srisorn

Abstract:

This research studied about green logistics and the expected benefit that organization gotten when adapted to green logistics also the organization concerned about the important activity in green logistics to apply in implementation from study was found that the benefit of green logistics that organization was gotten by logistics management which was the increased efficiency process of management the product from producer to customer all of reduce production cost, increased value added save energy and prevented environment together From study was found that the organization had green logistics to apply in logistics activities in supply chain since downstream till upstream to prevent environment as follow 1). Purchasing process, trade facilitation enhance such as linking of information technology during business to business (B2B business). 2). Productions process improved by business logistics improvement 3). Warehouse management process such as recycled packaging, moving goods in to warehouse, transportation goods and inside receiving and delivery products plan.

Keywords: Green Logistics, Trade Facilitation, Business Logistics Improvement, Double handling.

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Authors: Zhongjie Wang, Xiaofei Xu, Dechen Zhan

Abstract:

With deep development of software reuse, componentrelated technologies have been widely applied in the development of large-scale complex applications. Component identification (CI) is one of the primary research problems in software reuse, by analyzing domain business models to get a set of business components with high reuse value and good reuse performance to support effective reuse. Based on the concept and classification of CI, its technical stack is briefly discussed from four views, i.e., form of input business models, identification goals, identification strategies, and identification process. Then various CI methods presented in literatures are classified into four types, i.e., domain analysis based methods, cohesion-coupling based clustering methods, CRUD matrix based methods, and other methods, with the comparisons between these methods for their advantages and disadvantages. Additionally, some insufficiencies of study on CI are discussed, and the causes are explained subsequently. Finally, it is concluded with some significantly promising tendency about research on this problem.

Keywords: Business component, component granularity, component identification, reuse performance.

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Authors: Angelo Corallo, Maria Elena Latino, Marta Menegoli

Abstract:

Agri-food value chain involves various stakeholders with different roles. All of them abide by national and international rules and leverage marketing strategies to advance their products. Food products and related processing phases carry with it a big mole of data that are often not used to inform final customer. Some data, if fittingly identified and used, can enhance the single company, and/or the all supply chain creates a math between marketing techniques and voluntary traceability strategies. Moreover, as of late, the world has seen buying-models’ modification: customer is careful on wellbeing and food quality. Food citizenship and food democracy was born, leveraging on transparency, sustainability and food information needs. Internet of Things (IoT) and Analytics, some of the innovative technologies of Industry 4.0, have a significant impact on market and will act as a main thrust towards a genuine ‘4.0 change’ for agriculture. But, realizing a traceability system is not simple because of the complexity of agri-food supply chain, a lot of actors involved, different business models, environmental variations impacting products and/or processes, and extraordinary climate changes. In order to give support to the company involved in a traceability path, starting from business model analysis and related business process a Framework to Manage Product Data in Agri-Food Supply Chain for Voluntary Traceability was conceived. Studying each process task and leveraging on modeling techniques lead to individuate information held by different actors during agri-food supply chain. IoT technologies for data collection and Analytics techniques for data processing supply information useful to increase the efficiency intra-company and competitiveness in the market. The whole information recovered can be shown through IT solutions and mobile application to made accessible to the company, the entire supply chain and the consumer with the view to guaranteeing transparency and quality.

Keywords: Agriculture 4.0, agri-food supply chain, Industry 4.0, voluntary traceability.

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Authors: H.S. Kim

Abstract:

In this study, control performance of a smart base isolation system consisting of a friction pendulum system (FPS) and a magnetorheological (MR) damper has been investigated. A fuzzy logic controller (FLC) is used to modulate the MR damper so as to minimize structural acceleration while maintaining acceptable base displacement levels. To this end, a multi-objective optimization scheme is used to optimize parameters of membership functions and find appropriate fuzzy rules. To demonstrate effectiveness of the proposed multi-objective genetic algorithm for FLC, a numerical study of a smart base isolation system is conducted using several historical earthquakes. It is shown that the proposed method can find optimal fuzzy rules and that the optimized FLC outperforms not only a passive control strategy but also a human-designed FLC and a conventional semi-active control algorithm.

Keywords: Fuzzy logic controller, genetic algorithm, MR damper, smart base isolation system

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Authors: Anne Sorebo, Oystein Sorebo

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The present study was designed to test the influence of intrinsic ICT-motivation, perceived usefulness and ease of use on business students- willingness to use a particular software package. A questionnaire was completed by 196 business students in Norway. We found that 34% of the variance in the students- willingness to use the software could be explained by the three proposed antecedents. Intrinsic ICT-motivation seems to be the most important predictor of students- satisfaction willingness to use the software package.

Keywords: Spreadsheet, business students, technology acceptance, intrinsic motivation.

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Authors: Yananda Siraphatthada

Abstract:

This policy participation action research explores the roles of Thai government units during its 2010 fiscal year on how to create value added to recycling business in the central part of Thailand. The research aims to a) study how the government plays a role to support the business, and its problems and obstacles on supporting the business, b) to design a strategic action – short, medium, and long term plans -- to create value added to the recycling business, particularly in local full-loop companies/organizations licensed by Wongpanit Waste Separation Plant as well as those licensed by the Department of Provincial Administration. Mixed method research design, i.e., a combination of quantitative and qualitative methods is utilized in the present study in both data collection and analysis procedures. Quantitative data was analyzed by frequency, percent value, mean scores, and standard deviation, and aimed to note trend and generalizations. Qualitative data was collected via semi-structured interviews/focus group interviews to explore in-depth views of the operators. The sampling included 1,079 operators in eight provinces in the central part of Thailand.

Keywords: Management, Recycling Business, Value Added.

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Authors: Chyn Liaw, Chun-Wei Tung, Shinn-Jang Ho, Shinn-Ying Ho

Abstract:

The γ-turns play important roles in protein folding and molecular recognition. The prediction and analysis of γ-turn types are important for both protein structure predictions and better understanding the characteristics of different γ-turn types. This study proposed a physicochemical property-based decision tree (PPDT) method to interpretably predict γ-turn types. In addition to the good prediction performance of PPDT, three simple and human interpretable IF-THEN rules are extracted from the decision tree constructed by PPDT. The identified informative physicochemical properties and concise rules provide a simple way for discriminating and understanding γ-turn types.

Keywords: Classification and regression tree (CART), γ-turn, Physicochemical properties, Protein secondary structure.

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Authors: M. Cizmesija, N. Erjavec, V. Bahovec

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While the European Union (EU) harmonized methodology is a benchmark of worldwide used business survey (BS) methodology, the choice of variables that are components of the confidence indicators, as the leading indicators, is not strictly determined and unique. Therefore, the aim of this paper is to investigate and to quantify the relationship between all business survey variables in manufacturing industry and industrial production as a reference macroeconomic series in Croatia. The assumption is that there are variables in the business survey, that are not components of Industrial Confidence Indicator (ICI) and which can accurately (and sometimes better then ICI) predict changes in Croatian industrial production. Empirical analyses are conducted using quarterly data of BS variables in manufacturing industry and Croatian industrial production over the period from the first quarter 2005 to the first quarter 2013. Research results confirmed the assumption: three BS variables which is not components of ICI (competitive position, demand and liquidity) are the best leading indicator then ICI, in forecasting changes in Croatian industrial production instantaneously, with one, two or three quarter ahead.

Keywords: Balance, Business Survey, Confidence Indicators, Industrial Production, Forecasting.

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Authors: Cheryl Marie Cordeiro

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Although fisheries and aquaculture studies might seem marginal to international business (IB) studies in general, fisheries and aquaculture IB (FAIB) management is currently facing increasing pressure to meet global demand and consumption for fish in the next coming decades. In part address to this challenge, the purpose of this systematic review of literature (SLR) study is to investigate the use of the term ‘market access’ in its context of use in the generic literature and business sector discourse, in comparison to the more specific literature and discourse in fisheries, aquaculture and seafood. This SLR aims to uncover the knowledge/interest gaps between the academic subject discourses and business sector practices. Corpus driven in methodology and using a triangulation method of three different text analysis software including AntConc, VOSviewer and Web of Science (WoS) analytics, the SLR results indicate a gap in conceptual knowledge and business practices in how ‘market access’ is conceived and used in the context of the pharmaceutical healthcare industry and FAIB research and practice. While it is acknowledged that the product orientation of different business sectors might differ, this SLR study works with the assumption that both business sectors are global in orientation. These business sectors are complex in their operations from product to market. This SLR suggests a conceptual model in understanding the challenges, the potential barriers as well as avenues for solutions to developing market access for FAIB.

Keywords: Market access, fisheries and aquaculture, international business, systematic literature review.

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Authors: Ronald M. Yannone

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For decades, the defense business has been plagued by not having a reliable, deterministic method to know when the Kalman filter solution for passive ranging application is reliable for use by the fighter pilot. This has made it hard to accurately assess when the ranging solution can be used for situation awareness and weapons use. To date, we have used ad hoc rules-of-thumb to assess when we think the estimate of the Kalman filter standard deviation on range is reliable. A reliable algorithm has been developed at BAE Systems Electronics & Integrated Solutions that monitors the Kalman gain matrix elements – and a patent is pending. The “settling" of the gain matrix elements relates directly to when we can assess the time when the passive ranging solution is within the 10 percent-of-truth value. The focus of the paper is on surface-based passive ranging – but the method is applicable to airborne targets as well.

Keywords: Electronic warfare, extended Kalman filter (EKF), fighter aircraft, passive ranging, track convergence.

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Authors: Hossein Amoozad Khalili, Anahita Maleki

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Normally business changes are made in order to change a level of activity in some way, whether it is sales, cash flow, productivity, or product portfolio. When attempts are made to make such changes, too often the business reverts to the old levels of activity as soon as management attention is diverted. Risk management is a field of growing interest to project managers as well as in general business and organizational management. There are several approaches used to manage risk in projects and this paper is a brief outline of some that you might encounter, with an indication of their strengths and weaknesses.

Keywords: Risk Management, Project Management, Scheduling, Planning

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Authors: Saimir Heta, Kers Kapa, Rialda Xhizdari, Ilma Robo

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Despite the existence of different dental specialties, the dentist-patient relationship is unique, in the very fact that the treatment is performed by one doctor and the patient identifies the malpractice presented as part of that doctor's practice; this is in complete contrast to cases of medical treatments where the patient can be presented to a team of doctors, to treat a specific pathology. The rules of dental ethics are almost the same as the rules of medical ethics. The appearance of dental malpractice affects exactly this two-party relationship, created on the basis of professionalism, without deviations in this direction, between the dentist and the patient, but with very narrow individual boundaries, compared to cases of medical malpractice. Malpractice can have different reasons for its appearance, starting from professional negligence, but also from the lack of professional knowledge of the dentist who undertakes the dental treatment. It should always be seen in perspective that we are not talking about the individual - the dentist who goes to work with the intention of harming their patients. Malpractice can also be a consequence of the impossibility, for anatomical or physiological reasons of the tooth under dental treatment, to realize the predetermined dental treatment plan. On the other hand, the dentist himself is an individual who can be affected by health conditions, or have vices that affect the systemic health of the dentist as an individual, which in these conditions can cause malpractice. So, depending on the reason that led to the appearance of malpractice, the method of treatment from a legal point of view also varies, for the dentist who committed the malpractice, evaluating the latter if the malpractice came under the conditions of applying the rules of dental ethics. The deviation from the predetermined dental plan is the minimum sign of malpractice and the latter should not be definitively related only to cases of difficult dental treatments. The identification of the reason for the appearance of malpractice is the initial element, which makes the difference in the way of its treatment, from a legal point of view, and the involvement of the dentist in the assessment of the malpractice committed, must be based on the legislation in force, which must be said to have their specific changes in different states. Malpractice should be referred to, or included in the lectures or in the continuing education of professionals, because it serves as a method of obtaining professional experience in order not to repeat the same thing several times, by different professionals.

Keywords: Dental ethics, malpractice, negligence, legal basis, continuing education, dental treatments.

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Authors: J. D. D. Daniel, K. N. Goh, S. M. Yusop

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Trends in business intelligence, e-commerce and remote access make it necessary and practical to store data in different ways on multiple systems with different operating systems. As business evolve and grow, they require efficient computerized solution to perform data update and to access data from diverse enterprise business applications. The objective of this paper is to demonstrate the capability of DTS [1] as a database solution for automatic data transfer and update in solving business problem. This DTS package is developed for the sales of variety of plants and eventually expanded into commercial supply and landscaping business. Dimension data modeling is used in DTS package to extract, transform and load data from heterogeneous database systems such as MySQL, Microsoft Access and Oracle that consolidates into a Data Mart residing in SQL Server. Hence, the data transfer from various databases is scheduled to run automatically every quarter of the year to review the efficient sales analysis. Therefore, DTS is absolutely an attractive solution for automatic data transfer and update which meeting today-s business needs.

Keywords: Data Transformation Services (DTS), ObjectLinking and Embedding Database (OLEDB), Data Mart, OnlineAnalytical Processing (OLAP), Online Transactional Processing(OLTP).

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Authors: Eddie Soulier, Philippe Calvez, Florie Bugeaud, Francis Rousseaux, Jacky Legrand

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Social, mobility and information aggregation inside business environment need to converge to reach the next step of collaboration to enhance interaction and innovation. The following article is based on the “Assemblage" concept seen as a framework to formalize new user interfaces and applications. The area of research is the Energy Social Business Environment, especially the Energy Smart Grids, which are considered as functional and technical foundations of the revolution of the Energy Sector of tomorrow. The assemblages are modelized by means of mereology and simplicial complexes. Its objective is to offer new central attention and decision-making tools to end-users.

Keywords: Activity Streams, Assemblage, Energy Social Business Environment, Simplicial Complex, Smart Grid

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Authors: Krisada Sungkhamanee

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The objectives of this research are to search the management pattern of Nakhon Pathom lodging entrepreneurs for sufficient economy ways, to know the threat that affects this sector and design fit arrangement model to sustain their business with Nakhon Pathom style. What will happen if they do not use this approach? Will they have a financial crisis? The data and information are collected by informal discussions with 12 managers and 400 questionnaires. A mixed method of both qualitative research and quantitative research are used. Bent Flyvbjerg’s phronesis is utilized for this analysis. Our research will prove that sufficient economy can help small business firms to solve their problems. We think that the results of our research will be a financial model to solve many problems of the entrepreneurs and this way will can be a model for other provinces of Thailand.

Keywords: Nakhon Pathom Province, Lodging Business, Sufficient Economy.

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Authors: Maria Luskova, Maria Hudakova, Katarina Buganova

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Established objective and subjective preconditions for entrepreneurship, forming the business organically related whole, are the necessary condition of successful entrepreneurial activities. Objective preconditions for entrepreneurship are developed by market economy that should stimulate entrepreneurship by allowing the use of economic opportunities for all those who want to do business in respective field while providing guarantees to all owners and creating a stable business environment for entrepreneurs. Subjective preconditions of entrepreneurship are formed primarily by personal characteristics of the entrepreneur. These are his properties, abilities, skills, physiological and psychological preconditions which may be inherited, inborn or sequentially developed and obtained during his life on the basis of education and influences of surrounding environment. The paper is dealing with issues of objective and subjective preconditions for entrepreneurship and provides their analysis in view of the current situation in Slovakia. It presents risks of the business environment in Slovakia that the Slovak managers considered the most significant in 2014 and defines the dominant attributes of the entrepreneur in the current business environment in Slovakia.

Keywords: Entrepreneurship, innovations, opportunity, risk, uncertainty.

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Authors: Margaret F. Shipley

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Fuzzy logic can be used when knowledge is incomplete or when ambiguity of data exists. The purpose of this paper is to propose a proactive fuzzy set- based model for reacting to the risk inherent in investment activities relative to a complete view of portfolio management. Fuzzy rules are given where, depending on the antecedents, the portfolio size may be slightly or significantly decreased or increased. The decision maker considers acceptable bounds on the proportion of acceptable risk and return. The Fuzzy Controller model allows learning to be achieved as 1) the firing strength of each rule is measured, 2) fuzzy output allows rules to be updated, and 3) new actions are recommended as the system continues to loop. An extension is given to the fuzzy controller that evaluates potential financial loss before adjusting the portfolio. An application is presented that illustrates the algorithm and extension developed in the paper.

Keywords: Portfolio Management, Financial Market Monitoring, Fuzzy Controller, Fuzzy Logic,

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Authors: Ranajay Bhowmick

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Elastoplastic analysis of a structural system involves defining failure/yield criterion, flow rules and hardening rules. The failure/yield criterion defines the limit beyond which the material flows plastically and hardens/softens or remains perfectly plastic before ultimate collapse. The failure/yield criterion is represented geometrically in three/two dimensional Haigh-Westergaard stress-space to facilitate a better understanding of the behavior of the material. In the present study geometric representations in three and two-dimensional stress-space of a few important failure/yield criterion are presented. The criteria presented are the modified forms obtained due to the conditional solutions of the equation of stress invariants. A comparison of the failure/yield surfaces is also presented here to obtain the effectiveness of each of them and it has been found that for identical conditions the Rankine’s criterion gives the largest values of limiting stresses.

Keywords: Deviatoric plane, failure criteria, geometric representation, hydrostatic axis, modified form.

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Authors: Eakong Atiptamvaree, Twittie Senivongse

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Process-oriented software development is a new software development paradigm in which software design is modeled by a business process which is in turn translated into a process execution language for execution. The building blocks of this paradigm are software units that are composed together to work according to the flow of the business process. This new paradigm still exhibits the characteristic of the applications built with the traditional software component technology. This paper discusses an approach to apply a traditional technique for software component fabrication to the design of process-oriented software units, called process components. These process components result from decomposing a business process of a particular application domain into subprocesses, and these process components can be reused to design the business processes of other application domains. The decomposition considers five managerial goals, namely cost effectiveness, ease of assembly, customization, reusability, and maintainability. The paper presents how to design or decompose process components from a business process model and measure some technical features of the design that would affect the managerial goals. A comparison between the measurement values from different designs can tell which process component design is more appropriate for the managerial goals that have been set. The proposed approach can be applied in Web Services environment which accommodates process-oriented software development.

Keywords: Business Process Model, Managerial Goals, ProcessComponent.

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Authors: V. Lendel, M. Varmus

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The aim of the paper is based on detailed analysis of literary sources and carried out research to develop a model development and implementation of innovation strategy in the business. The paper brings the main results of the authors conducted research on a sample of 462 respondents that shows the current situation in the Slovak enterprises in the use of innovation strategy. Carried out research and analysis provided the base for a model development and implementation of innovation strategy in the business, which is in the paper in detail, step by step explained with emphasis on the implementation process. Implementing the innovation strategy is described a separate model. Paper contains recommendations for successful implementation of innovation strategy in the business. These recommendations should serve mainly business managers as valuable tool in implementing the innovation strategy.

Keywords: innovation, innovation strategy, innovative management, innovative potential

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