Search results for: success factors in financial innovation.

Authors: Sawsan J. Al-husseini, Talib A. Dosa

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Educational institutions are today facing increasing pressures due to economic, political and social upheaval. This is only exacerbated by the nature of education as an intangible good which relies upon the intellectual assets of the organisation, its staff. Top management support has been acknowledged as having a positive general influence on knowledge management and creativity. However, there is a lack of models linking top management support, knowledge sharing, and innovation within higher education institutions, in general within developing countries, and particularly in Iraq. This research sought to investigate the impact of top management support on innovation through the mediating role of knowledge sharing in Iraqi private HEIs. A quantitative approach was taken and 262 valid responses were collected to test the causal relationships between top management support, knowledge sharing, and innovation. Employing structural equation modelling with AMOS v.25, the research demonstrated that knowledge sharing plays a pivotal role in the relationship between top management support and innovation. The research has produced some guidelines for researchers as well as leaders, and provided evidence to support the use of knowledge sharing to increase innovation within the higher education environment in developing countries, particularly Iraq.

Keywords: Top management support, knowledge sharing, innovation, structural equation modelling.

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Authors: Chandan Deep Singh

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In present days, companies are facing the rapid competition in terms of customer requirements to be satisfied, new technologies to be integrated into future products, new safety regulations to be followed, new computer-based tools to be introduced into design activities that becomes more scientific. In today’s highly competitive market, survival focuses on various factors such as quality, innovation, adherence to standards, and rapid response as the basis for competitive advantage. For competitive advantage, companies have to produce various competencies: for improving the capability of suppliers and for strengthening the process of integrating technology. For more competitiveness, organizations should operate in a strategy driven way and have a strategic architecture for developing core competencies. Traditional ways to take such experience and develop competencies tend to take a lot of time and they are expensive. A new learning environment, which is built around a gaming engine, supports the development of competences in specific subject areas. Technology competencies have a significant role in firm innovation and competitiveness; they interact with the competitive environment. Technological competencies vary according to the type of competitive environment, thus enhancing firm innovativeness. Technological competency is gained through extensive experimentation and learning in its research, development and employment in manufacturing. This is a review paper based on competency and strategic success of automobile industry. The aim here is to study strategy formulation and competency tools in the industry. This work is a review of literature related to competency and strategy in automobile industry. This study involves review of 34 papers related to competency and strategy.

Keywords: Competency, competitiveness, manufacturing competency, strategic formulation.

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Authors: Radostina Popova

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The paper presents an analysis of the innovation performance of small and medium-sized furniture enterprises in Bulgaria, accounting for over 97% of the companies in the sector. It contains advanced features of innovation in enterprises, specific features of the furniture industry in Bulgaria and analysis of the results of studies on the topic. The results from studies of three successive periods - 2006-2008; 2008-2010; 2010-2012, during which were studied 594 small and medium-sized furniture enterprises. There are commonly used in the EU definitions and indicators (European Commission, OECD, Oslo Manual), which allows for the comparability of results.

Keywords: Innovation activity, competitiveness of innovation, furniture enterprises in Bulgaria.

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Authors: Terezie Bartusková, Jitka Baňařová, Zuzana Kusněřová

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Importance of strategic planning is unquestionable. However, the practical implementation of a strategic plan faces too many obstacles. The aim of the article is explained the importance of strategic planning and to find how companies in Moravian-Silesian Region deal with strategic planning, and to introduce the model, which helps to set strategic goals in financial indicators area. This model should be part of the whole process of strategic planning and can be use to predict the future values of financial indicators of the company with regard to the factor, which influence these indicators.

Keywords: Planning of Potentials, Planning of Strategic Objectives, Portfolio Planning, Significant Factors, Strategic Planning.

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Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler

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Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.

Keywords: Economic development, entrepreneurship, developed countries, innovation program.

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Authors: José Carlos Rodríguez, Mario Gómez

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This paper analyzes innovation trends in Latin America countries by means of the number of patent applications filed by residents and non residents during the period 1965 to 2012. Making use of patent data released by the World Intellectual Property Organization (WIPO), we search for the presence of multiple structural changes in patent application series in Argentina, Brazil Chile, and Mexico. These changes may suggest that firms’ innovative activity has been modified as a result of implementing a particular science, technology and innovation (STI) policy. Accordingly, the new regulations implemented in these countries during 1980s and 1990s have influenced their intellectual property regimes. The question conducting this research is thus how STI policies in these countries have affected their innovation activity? The results achieved in this research confirm the existence of multiple structural changes in the series of patent applications resulting from STI policies implemented in these countries.

Keywords: Econometric methods, innovation activity, Latin America countries, patents, science, technology and innovation (STI) policy.

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Authors: Monika Dwilinska

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Innovations, especially technological, are considered key-drivers for sustainable economic growth and competitiveness in the globalised world. As such they should also play an important role in the process of economical convergence inside the EU. Unfortunately, the problem of insufficient innovation performance concerns around half of the EU countries. Poland shows that a lack of a consistent high-tech financing system constitutes a serious obstacle for the development of innovative firms. In this article we will evaluate these questions referring to the example of Ammono S.A., a Polish company established to develop and commercialise an original technology for the production of bulk GaN crystals. We will focus on its efforts to accumulate the financial resources necessary at different stages of its development. The purpose of this article is to suggest possible ways to improve the national innovative system, which would make it more competent in generating high-tech leaders.

Keywords: High-tech financing, innovation, national innovative system

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Authors: Ramakrishnan Ramanathan, Yanqing Duan, Guangming Cao, Elaine Philpott

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We discuss a theoretical conceptual framework to help understand how the new business analytics technologies have diffused in firms. We draw on three theoretical perspectives for this purpose. They are innovation diffusion theory, IT Business Value and the technology-organization-environment theory. We develop a conceptual framework that helps understand the interlinkages among factors affecting diffusion of business analytics and its impact on performance.

Keywords: Innovation diffusion, IT-Business Value, Technology-Organization-Environment, Business Analytics, Business performance

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Authors: Popoola, C. F., Akinsanya, K., Babarinde, S. B., Farinde, D. A.

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This study investigated published financial statement as correlate of investment decision among commercial bank stakeholders in Nigeria. A correlation research design was used in the study. 180 users of published financial statement were purposively sampled from Lagos and Ibadan. Data generated were analyzed using Pearson correlation and regression. The findings of the study revealed that, balance sheet is negatively related with investment decision (r= -.483; p<.01) while income statement (r= .249; p<.001), notes on the account (r= .230; p<.001), cash flow statement (r= .202; p<.001), value added statement (r= .328; p<.001) and five-year financial summary (r= .191; p<.01) are positively related with investment decision. Findings also revealed that components of published financial statement significantly predicted good investment decision (R²= .983; F_(5,175)=284.5; p<.05) for commercial bank stakeholders. Therefore, it was suggested that Nigeria banks and professional bodies should instigate programs that will increase the knowledge of stakeholders on published financial statement.

Keywords: Commercial banks, Financial statement, Income Statement, Investment decision, Stakeholders.

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Authors: Wen-Pai Wang

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The growing influence of service industries has prompted greater attention being paid to service operations management. However, service managers often have difficulty articulating the veritable effects of their service innovation. Especially, the performance evaluation process of service innovation problems generally involves uncertain and imprecise data. This paper presents a 2-tuple fuzzy linguistic computing approach to dealing with heterogeneous information and information loss problems while the processes of subjective evaluation integration. The proposed method based on group decision-making scenario to assist business managers in measuring performance of service innovation manipulates the heterogeneity integration processes and avoids the information loss effectively.

Keywords: Group decision-making, Heterogeneity, Linguisticcomputing, Multi-criteria, Service innovation

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Authors: Yosia Mulumba, Klaus Schmidt

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Financial Inclusion is considered a key pillar for development in most countries around the world. Access to affordable financial services in a country’s economy can be a driver to overcome poverty and reduce income inequalities, and thus increase economic growth. Nevertheless, the number of financially excluded populations in developing countries continues to be very high. This paper explores the role of Financial Technology (Fintech) as a key driver for achieving financial inclusion in developing countries post the COVID-19 pandemic with an emphasis on four East African countries: Kenya, Tanzania, Uganda, and Rwanda. The research paper is inspired by the positive disruption caused by the pandemic, which has compelled societies in East Africa to adapt and embrace the use of financial technology innovations, specifically Mobile Money Services (MMS), to access financial services. MMS has been further migrated and integrated with other financial technology innovations such as Mobile Banking, Micro Savings, and Loans, and Insurance, to mention but a few. These innovations have been adopted across key sectors such as commerce, health care, or agriculture. The research paper will highlight the Mobile Network Operators (MNOs) that are behind MMS, along with numerous innovative products and services being offered to the customers. It will also highlight the regulatory framework under which these innovations are being governed to ensure the safety of the customers' funds.

Keywords: Financial inclusion, financial technology, regulatory framework, mobile money services.

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Authors: Marco Ogê Muniz, Luiz Fernando Gonçalves De Figueiredo

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Design, as an area of knowledge, is subject to changes that affect it through different approaches, both theoretical and practical; its include matters related with responsibility, environment, social worries, and things alike. Commensurately, such contemporary aspects open room for social initiatives. This scenario begins to be looked at, especially in creative communities. Such proposal for a systemic approach of design is seen as a way to involve the stakeholders in the processes of investigation and of social innovation, which can decisively contribute for the development of traditional local communities. As a theoretical basis for the research, this paper outlines some especial features of design and social innovation, in their particular and in their complementary aspects, as well as in the way they relate with each other.

Keywords: Responsible design, social innovation, creative community, systemic approach, network.

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Authors: Othoman Elsayah, Naren Gupta, Binsheng Zhang

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The construction sector constitutes one of the most important sectors in the economy of any country. Contractor selection is a critical decision that is undertaken by client organizations and is central to the success of any construction project. Contractor selection (CS) is a process which involves investigating, screening and determining whether candidate contractors have the technical and financial capability to be accepted to formally tender for construction work. The process should be conducted prior to the award of contract, characterized by many factors such as: contactor’s skills, experience on similar projects, track- record in the industry, and financial stability. However, this paper evaluates the current state of knowledge in relation to contractor selection process and demonstrates the findings from the analysis of the data collected from the Delphi questionnaire survey. The survey was conducted with a group of 12 experts working in the Libyan construction industry (LCI). The paper starts by briefly explaining the general outline of the questionnaire including the survey participation rate, the different fields the experts came from, and the business titles of the participants. Then the paper describes the tests used to determine when the experts had reached consensus. The paper is based on research which aims to develop rank contractor selection criteria with specific application to make construction projects in the Libyan context. The findings of this study will be utilized to establish the scope of work that will be used as part of a PhD research.

Keywords: Contractor selection, Libyan construction industry, Decision experts and Delphi technique.

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Authors: Victoria Wolf, Renata Dobrucka, Robert Prezkop, Stephan Haubold

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The COVID-19 causes a worldwide crisis and has an impact in every dimension of the economy. Organizations with the ability to adapt to new developments and which innovate solutions for the disrupted world during and after the Corona crises have the opportunity to not only survive the crisis but rather to use new trends to implement new business models and gain advantage. In this context, startups seem to have better opportunities to manage the Corona crisis through their innovation-based nature. The main result of this paper is the understanding that by applying a startup orientated innovation (SOCI) strategy, established companies can be motivated to meet the challenge of COVID-19 in a similar way like startups. This result can be achieved by describing the role of innovation and a SOCI strategy as helpful methods for organizations to meet the coming challenges during and after the COVID-19 epidemics. In addition to this, this paper presents a practical application of SOCI through the PANDA approach of the Fresenius University of Applied Sciences in Germany and discuss it in the context of COVID-19 as an exemplary successful real-world implementation of SOCI strategy.

Keywords: COVID-19, innovation, open innovation, startup, SOCI framework.

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Authors: José A. D. Machuca, Bernabé Escobar-Pérez, Pedro Garrido Vega, Darkys E. Lujan García

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Starting with an analysis of the financial and operational indicators that can be found in the specialised literature, this study aims to contribute to improvements in the performance measurement systems used when the unit of analysis is the manufacturing plant. For this a search was done in the highest impact Journals of Production and Operations Management and Management Accounting , with the aim of determining the financial and operational indicators used to evaluate performance when Advanced Production Practices have been implemented, more specifically when the practices implemented are Total Quality Management, JIT/Lean Manufacturing and Total Productive Maintenance. This has enabled us to obtain a classification of the two types of indicators based on how much each is used. For the financial indicators we have also prepared a proposal that can be adapted to manufacturing plants- accounting features. In the near future we will propose a model that links practices implementation with financial and operational indicators and these two last with each other. We aim to will test this model empirically with the data obtained in the High Performance Manufacturing Project.

Keywords: Advanced Production Practices, Financial Indicators, Non-Financial Indicators

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Authors: Pairaya J., Buddhagarn R., Sukree S., Punthumadee K.

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Application of Information Technology (IT) has revolutionized the functioning of business all over the world. Its impact has been felt mostly among the information of dependent industries. Tourism is one of such industry. The conceptual framework in this study represents an innovation of travel information searching system on mobile devices which is used as tools to deliver travel information (such as hotels, restaurants, tourist attractions and souvenir shops) for each user by travelers segmentation based on data mining technique to segment the tourists- behavior patterns then match them with tourism products and services. This system innovation is designed to be a knowledge incremental learning. It is a marketing strategy to support business to respond traveler-s demand effectively.

Keywords: Tourism, Innovation, Information Searching, Data Mining.

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Authors: Ying-Hsiu Chen, Pao-Peng Hsu

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This paper adopts a two-stage data envelopment analysis to explore the impacts of financial development and bank operating scale on bank efficiencies. The sample comprises unbalanced panel data of 32 Taiwanese listed domestic commercial banks over the period 1998 to 2013. Empirical results show that pure technical efficiency is positively related to financial development, whereas the effect of financial development on scale efficiency is insignificant. Enlargement of bank operating scale improves bank efficiencies, but the efficiency gains are decreased gradually when the scale increases. Increases in capital adequacy ratio and market power of loans lead into a growth of bank efficiencies.

Keywords: Financial development, Operating scale, Efficiency, DEA.

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Authors: Yuzhi Cai

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In this talk, we introduce a newly developed quantile function model that can be used for estimating conditional distributions of financial returns and for obtaining multi-step ahead out-of-sample predictive distributions of financial returns. Since we forecast the whole conditional distributions, any predictive quantity of interest about the future financial returns can be obtained simply as a by-product of the method. We also show an application of the model to the daily closing prices of Dow Jones Industrial Average (DJIA) series over the period from 2 January 2004 - 8 October 2010. We obtained the predictive distributions up to 15 days ahead for the DJIA returns, which were further compared with the actually observed returns and those predicted from an AR-GARCH model. The results show that the new model can capture the main features of financial returns and provide a better fitted model together with improved mean forecasts compared with conventional methods. We hope this talk will help audience to see that this new model has the potential to be very useful in practice.

Keywords: DJIA, Financial returns, predictive distribution, quantile function model.

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Authors: F. Fabeil Noor, Roslinah Mahmud, Janice L. H. Nga, Rasid Mail

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In Malaysia, particularly in Sabah, the government has been promoting entrepreneurship among rural people to encourage them to earn their living by making good use of the diverse natural resources and local cultures of Sabah. Nevertheless, despite the government’s aim to encourage more local community in rural area to involve in entrepreneurship, the involvement of community in entrepreneurial activity is still low. It is crucial to identify the factors stimulate (or prevent) the involvement of rural community in Sabah in entrepreneurial activity. Therefore, this study tries to investigate the personal and contextual factors that may have impact on decision to start a business among the local community in Mantanani Island. In addition, this study also aims to identify the perceived benefits they receive from entrepreneurial activity. A structured face-to-face interview was conducted with 61 local communities in Mantanani Island. Data analysis revealed that passion, personal skills and self-confidence are the significant internal factors to entrepreneurial activity, whereas access to finance, labour and infrastructure are the significant external factors that are found to influence entrepreneurship. In terms of perceived rewards they received from taking up small business, it was found that respondents are predominantly agreed that entrepreneurship offers financial benefit than non-financial. In addition, this study also offers several suggestions for entrepreneurship development in Mantanani Island and it is hoped that this study may help the related agency to develop effective support policies in order to encourage more people in rural area to involve in entrepreneurship.

Keywords: Entrepreneurship, motivation, perceived rewards, rural community.

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Authors: Jaroslav Pavlíček

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Company strategy expresses a basic idea of how to reach company objectives. A whole range of models of strategic management are used in practice. The concept of strategic management should fulfill some basic requirements to make it applicable for both the typical, but also more specific company environment. The financial strategy plays an important role in corporate strategy. The paper develops a methodology of strategic model implementing into the category of micro, small and medium-sized enterprises (SMEs). Furthermore, the methodology recommends procedures while solving an up-to-date worldwide task of the definition of the company strategy and its financial strategy.

Keywords: corporate strategy, financial strategy, corporate planning

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Authors: Satya Pilla

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This study explores how the mechanics of learning paves the way to engineering innovation. Theories related to learning in the new product/service innovation are reviewed from an organizational perspective, behavioral perspective, and engineering perspective. From this, an engineering team-s external interactions for knowledge brokering and internal composition for skill balance are examined from a learning and innovation viewpoints. As a result, an integrated learning model is developed by reconciling the theoretical perspectives as well as developing propositions that emphasize the centrality of learning, and its drivers, in the engineering product/service development. The paper also provides a review and partial validation of the propositions using the results of a previously published field study in the aerospace industry.

Keywords: Engineering Services, Integrated Learning, NewProduct Development, Service Innovation

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Authors: Eli Hustad, Aurilla A. Bechina

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The purpose of this research is to increase our knowledge as regards how Small-and-Medium-Sized Enterprises (SMEs) tackle ERP implementation projects to achieve successful adoption and use of these systems within the organization. SMEs have scare resources to handle these kinds of projects which have proved to be risky and costly. There are several studies focusing on ERP implementation in larger companies, however, few studies report on challenges experienced by SMEs. Our research seeks to bridge this gap. Through a multiple case study of four companies, we identified challenges and critical elements within the different phases (pre-implementation, implementation and post-implementation) of the ERP life cycle. To interpret our findings, we utilize a well-know ERP life cycle model and critical success factors developed for larger companies which are reported in former research literature. We discuss if these models are relevant for SMEs and suggest additional critical elements identified in this study to make a framework more adapted to the SME context.

Keywords: ERP implementation challenges, ERP implementation framework, ERP life cycle model, Small-and- Medium-Sized Enterprises, ERP critical success factors

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Authors: S. M. Azad, H. Ghodsipour, F. Roshannafas

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In recent years ‘technology management and policymaking’ is one of the most important problems in management science. In this field, different generations of innovation and technology management are presented which the earliest one is Innovation System (IS) approach. In a general classification, innovation systems are divided in to 4 approaches: technical, sectoral, regional, and national. There are many researches in relation to each of these approaches in different academic fields. Every approach has some benefits. If two or more approaches hybrid, their benefits would be combined. In addition, according to the sectoral structure of the governance model in Iran, in many sectors, such as information technology, the combination of three other approaches with sectoral approach is essential. Hence, in this paper, combining two IS approaches (technical and sectoral) and using system dynamics, a generic model is presented for a sample of software industry. As a complimentary point, this article is introducing a new hybrid approach called Techno-Sectoral Innovation System. This TSIS model is accomplished by Changing concepts of the ‘functions’-which came from Technological IS literature- and using them into sectoral system as measurable indicators.

Keywords: Innovation system, technology, techno-sectoral system, functional indicators, system dynamics.

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Authors: Lizbeth Puerta, Enselmina Marín

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The purpose of this research is to present a survey to be applied to professors of public universities, to identify the factors that benefit or hinder the university-industry relation. Hence, this research studies some elements that integrate the variables: Knowledge management, technology management, and technology transfer; to define the existence of a relation between these variables and the industry necessities of innovation. This study is exploratory, descriptive and non-experimental. The research question is: What is the impact of the knowledge management, the technology management, and the technology transfer, made by administrative support areas of the public universities, in the industries innovation? Thus, literature review was made to identify some elements that should be considered to design a survey that allows to obtain valid information to the study variables. After this, the survey was developed, and the Content Validity Analysis was made through the Lawshe Model. The analysis indicated that the Content Validity Index (CVI) was 0.80. Hence, it was determined that this survey presents acceptable psychometric properties to be used as an evaluation tool.

Keywords: Innovation, knowledge management, technology management, technology transfer.

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Authors: Noemy Witt Ferreira, Flávio de São Paulo Filho

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Innovation, technology and knowledge are the trilogy of impact to support the challenges arising from uncertainty. Evidence showed an opportunity to ask how to manage in this environment under constant innovation. In an attempt to get a response from the field of Management Sciences, based in the Contingency Theory, a research was conducted, with phenomenological and descriptive approaches, using the Case Study Method and the usual procedures for this task involving a focus group composed of managers and employees working in the pharmaceutical field. The problem situation was raised; the state of the art was interpreted and dissected the facts. In this tasks were involved four establishments. The result indicates that these focused ventures have been managed by its founder empirically and is experimenting agility described in this work. The expectation of this study is to improve concepts for stakeholders on creativity in business.

Keywords: Administration. Innovation. Knowledge, Management Technology

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Authors: Isabela Romanha de Alcantara, José Eustáquio Ribeiro Vieira Filho, José Garcia Gasques

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Innovation and technology can be determinant factors to ensure agricultural and sustainable growth, as well as productivity gains. Technical change has contributed considerably to supply agricultural expansion in Brazil. This agricultural growth could be achieved by incorporating more land or capital. If capital is the main source of agricultural growth, it is possible to increase production per unit of land. The objective of this paper is to estimate: 1) total factor productivity (TFP), which is measured in terms of the rate of output per unit of input; and 2) the land-saving effect (LSE) that is the amount of land required in the case that yield rate is constant over time. According to this study, from 1990 to 2019, it appears that 87% of Brazilian agriculture product growth comes from the gains of productivity; the remaining 13% comes from input growth. In the same period, the total LSE was roughly 400 Mha, which corresponds to 47% of the national territory. These effects reflect the greater efficiency of using productive factors, whose technical change has allowed an increase in the agricultural production based on productivity gains.

Keywords: agriculture, land-saving effect, livestock, productivity

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Authors: Toby Gibbs, Suwaree Yordchim

Abstract:

This research analyzes factors affecting the success of Litecoin Value within Thailand and develops a guideline for selfreliance for effective business implementation. Samples in this study included 119 people through surveys. The results revealed four main factors affecting the success as follows: 1) Future Career training should be pursued in applied Litecoin development. 2) Didn't grasp the concept of a digital currency or see the benefit of a digital currency. 3) There is a great need to educate the next generation of learners on the benefits of Litecoin within the community. 4) A great majority didn't know what Litecoin was. The guideline for self-reliance planning consisted of 4 aspects: 1) Development planning: by arranging meet up groups to conduct further education on Litecoin and share solutions on adoption into every day usage. Local communities need to develop awareness of the usefulness of Litecoin and share the value of Litecoin among friends and family. 2) Computer Science and Business Management staff should develop skills to expand on the benefits of Litecoin within their departments. 3) Further research should be pursued on how Litecoin Value can improve business and tourism within Thailand. 4) Local communities should focus on developing Litecoin awareness by encouraging street vendors to accept Litecoin as another form of payment for services rendered.

Keywords: Litecoin, Mining, Confirmations.

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Authors: Toby Gibbs, Suwaree Yordchim

Abstract:

This research analyzes factors affecting the success of Bitcoin Value within Thailand and develops a guideline for self-reliance for effective business implementation. Samples in this study included 121 people through surveys. The results revealed four main factors affecting the success as follows: 1) A great majority didn't know what Bitcoin was. 2) Didn't grasp the concept of a digital currency or see the benefit of a digital currency. 3) There is a great need to educate the next generation of learners on the benefits of Bitcoin within the community. 4) Future Career training should be pursued in applied Bitcoin development.

The guideline for self-reliance planning consisted of 4 aspects: 1) Local communities need to develop awareness of the usefulness of Bitcoin and share the value of Bitcoin among friends and family. 2) Computer Science and Business Management staff should develop skills to expand on the benefits of Bitcoin within their departments. 3) Further research should be pursued on how Bitcoin Value can improve business and tourism within Thailand. Local communities should focus on developing Bitcoin awareness by encouraging street vendors to accept Bitcoin as another form of payment for services rendered. 4) Development planning: by arranging meet up groups to conduct further education on Bitcoin and share solutions on adoption into every day usage.

Keywords: Bitcoin, Cryptocurrency, Decentralized.

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Authors: Amalia Suzianti

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This research elaborates decision models for product innovation in the early phases, focusing on one of the most widely implemented method in marketing research: conjoint analysis and the related conjoint-based models with special focus on heuristics programming techniques for the development of optimal product innovation. The concept, potential, requirements and limitations of conjoint analysis and its conjoint-based heuristics successors are analysed and the development of conceptual framework of Genetic Algorithm (GA) as one of the most widely implemented heuristic methods for developing product innovations are discussed.

Keywords: Product Innovation, Conjoint Analysis, Heuristic Model, Genetic Algorithm

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Authors: Balimu Mwiya, Mundia Muya, Chabota Kaliba, Peter Mukalula

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Factors affecting construction unit cost vary depending on a country’s political, economic, social and technological inclinations. Factors affecting construction costs have been studied from various perspectives. Analysis of cost factors requires an appreciation of a country’s practices. Identified cost factors provide an indication of a country’s construction economic strata. The purpose of this paper is to identify the essential factors that affect unit cost estimation and their breakdown using artificial neural networks. Twenty five (25) identified cost factors in road construction were subjected to a questionnaire survey and employing SPSS factor analysis the factors were reduced to eight. The 8 factors were analysed using neural network (NN) to determine the proportionate breakdown of the cost factors in a given construction unit rate. NN predicted that political environment accounted 44% of the unit rate followed by contractor capacity at 22% and financial delays, project feasibility and overhead & profit each at 11%. Project location, material availability and corruption perception index had minimal impact on the unit cost from the training data provided. Quantified cost factors can be incorporated in unit cost estimation models (UCEM) to produce more accurate estimates. This can create improvements in the cost estimation of infrastructure projects and establish a benchmark standard to assist the process of alignment of work practises and training of new staff, permitting the on-going development of best practises in cost estimation to become more effective.

Keywords: Construction cost factors, neural networks, roadworks, Zambian Construction Industry.

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