Abstract: Knowledge is considered as an important asset which
can help organizations to create competitive advantage. The necessity
of taking care of these assets is more important in these days – in
days of turbulent changes in business environment. Knowledge could
facilitate adaption to constant changes. The aim of this paper is to
describe how the knowledge sharing can be supported in the
manufacturing companies. The methods of case studies and grounded
theory were used to present information gained by carrying out semistructured
interviews. Results show that knowledge sharing is
supported in very similar ways in respondent companies.
Abstract: Solid waste management in steel industry is broadly
classified in “4 Rs” i.e. reduce, reuse, recycle and restore the
materials. Reuse and recycling the entire solid waste generated in the
process of steel making is a viable solution in targeting a clean, green
and zero waste technology leading to sustainable development of the
steel industry. Solid waste management has gained importance in
steel industry in view of its uncertainty, volatility and speculation due
to world competitive standards, rising input costs, scarcity of raw
materials and solid waste generated like in other sectors. The
challenges that the steel Industry faces today are the requirement of a
sustainable development by meeting the needs of our present
generation without compromising the ability of future generations.
Technologies are developed not only for gainful utilization of solid
wastes in manufacture of conventional products but also for
conversion of same in to completely new products.
Abstract: Innovation plays an important role in economic
growth and development. Evolutionary economics has entrepreneurs
at the centre of the innovation system, but includes all other
participants as contributors to the performance of the innovation
system. Education and training institutions, one of the participants in
the innovation system, contributes in different ways to human capital.
The gap in literature on the competence building as part of human
capital in the analysis of innovation systems is addressed in this
paper. The Mpumalanga Province of South Africa is used as a case
study. It was found that the absence of a university, the level of
education, the quality and performance in the education sector and
the condition of the education infrastructure have not been conducive
to learning.
Abstract: The objectives of the study were to determine the
marketing mix factors that influencing tourist’s destination decision
making for cultural tourism in the Chonburi province. Both
quantitative and qualitative data were applied in this study. The
samples of 400 cases for quantitative analysis were tourists (both
Thai and foreign) who were interested in cultural tourism in the
Chonburi province, and traveled to cultural sites in Chonburi and 14
representatives from provincial tourism committee of Chonburi and
local tourism experts. Statistics utilized in this research included
frequency, percentage, mean, standard deviation, and multiple
regression analysis. The study found that Thai and foreign tourists
are influenced by different important marketing mix factors. The
important factors for Thai respondents were physical evidence, price,
people, and place at high importance level. For foreign respondents,
physical evidence, price, people, and process were high importance
level, whereas, product, place and promotion were moderate
importance level.
Abstract: The objective of countercyclical capital buffer is to
encourage banks to build up buffers in good times that can be drawn
down in bad times. The aim of the report is to assess such decisions
by banks derived from three approaches. The approaches are the
aggregate credit-to-GDP ratio, credit growth as well as banking
sector profits. The approaches are implemented for Estonia, Latvia
and Lithuania for the time period 2000-2012. The report compares
three approaches and analyses their relevance to the Baltic States by
testing the correlation between a growth in studied variables and a
growth of corresponding gaps. Methods used in the empirical part of
the report are econometric analysis as well as economic analysis,
development indicators, relative and absolute indicators and other
methods. The research outcome is a cross-Baltic comparison of two
alternative approaches to establish or release a countercyclical capital
buffer by banks and their implications for each Baltic country.
Abstract: The value co-creation has gained much attention in
sales research, but less is known about how salespeople and
customers interact in the authentic business to business (B2B) sales
meetings. The study presented in this paper empirically contributes to
existing research by presenting authentic B2B sales meetings that
were video recorded and analyzed using observation and qualitative
content analysis methods. This paper aims to study key elements of
successful sales interactions between salespeople and customers/
buyers. This study points out that salespeople are selling value rather
than the products or services themselves, which are only enablers in
realizing business benefits. Therefore, our findings suggest that
promoting and easing open discourse is an essential part of a
successful sales encounter. A better understanding of how
salespeople and customers successfully interact would help
salespeople to develop their interpersonal sales skills.
Abstract: This paper is focusing on the attitude of Georgian
consumers toward social media, influence of social media on
consumer buying behavior. The purpose of this paper is to explore
the usage of social media marketing for small business companies of
Georgia. The result of marketing research has revealed that social
webs are mostly used by Georgian consumers, but they have little
impact on the buying decision. The research method was exploratory
and descriptive. Conclusions summarize the research results and
offers insight to provide better understandings of consumers demand
and implementation of marketing strategy through social media in
Georgia.
Abstract: Within the framework of this research, the regulatory
documents, which are in force in relation to this industry, were
analyzed. The main attention is turned to their modernization and
necessity of their compliance with European standards.
It is a current issue to direct the efforts of state policy on support
of business by implementing infrastructural projects, as well as by
development of human resources, which may be possible by
supporting the relevant higher and vocational studying-educational
programs.
Abstract: Recently, the competition between websites becomes
intense. How to make users “adopt” their websites is an issue of urgent
importance for online communities companies. Social procedures
(such as social influence) can possibly explain how and why users’
technologies usage behaviors affect other people to use the
technologies. This study proposes two types of social influences on the
initial usage of Facebook Check In-friends and group members.
Besides, this study combines social influences theory and social
network theory to explore the factors influencing initial usage of
Facebook Check In. This study indicates that Facebook friends’
previous usage of Facebook Check In and Facebook group members’
previous usage of Facebook Check In will positively influence focal
actors’ Facebook Check In adoption intention, and network centrality
will moderate the relationships among Facebook friends’ previous
usage of Facebook Check In, Facebook group members’ previous
usage of Facebook Check In and focal actors’ Facebook Check In
adoption intention. The article concludes with contributions to
academic research and practice.
Abstract: This paper examines the effect of the volatility of oil
prices on food price in South Africa using monthly data covering the
period 2002:01 to 2014:09. Food price is measured by the South
African consumer price index for food while oil price is proxied by
the Brent crude oil. The study employs the GARCH-in-mean VAR
model, which allows the investigation of the effect of a negative and
positive shock in oil price volatility on food price. The model also
allows the oil price uncertainty to be measured as the conditional
standard deviation of a one-step-ahead forecast error of the change in
oil price. The results show that oil price uncertainty has a positive
and significant effect on food price in South Africa. The responses of
food price to a positive and negative oil price shocks is asymmetric.
Abstract: Improved resource efficiency of production is a key
requirement for sustainable growth, worldwide. In this regards, by
considering the energy and tourism as the extra inputs to the classical
Coub-Douglas production function, this study aims at investigating
the efficiency changes in the North African countries. To this end, the
study uses panel data for the period 1995-2010 and adopts the
Malmquist index based on the data envelopment analysis. Results
show that tourism increases technical and scale efficiencies, while it
decreases technological and total factor productivity changes. On the
other hand, when the production function is augmented by the energy
input; technical efficiency change decreases, while the technological
change, scale efficiency change and total factor productivity change
increase. Thus, in order to satisfy the needs for sustainable growth,
North African governments should take some measures for increasing
the contribution that the tourism makes to economic growth and some
others for efficient use of resources in the energy sector.
Abstract: This study analyzes the innovative orientation of the
Croatian entrepreneurs. Innovative orientation is represented by the
perceived extent to which an entrepreneur’s product or service or
technology is new, and no other businesses offer the same product.
The sample is extracted from the GEM Croatia Adult Population
Survey dataset for the years 2003-2013. We apply descriptive
statistics, t-test, Chi-square test and logistic regression. Findings
indicate that innovative orientations vary with personal, firm, meso
and macro level variables, and between different stages in
entrepreneurship process. Significant predictors are occupation of the
entrepreneurs, size of the firm and export aspiration for both early
stage and established entrepreneurs. In addition, fear of failure,
expecting to start a new business and seeing an entrepreneurial career
as a desirable choice are predictors of innovative orientation among
early stage entrepreneurs.
Abstract: Traditional document representation for classification
follows Bag of Words (BoW) approach to represent the term weights.
The conventional method uses the Vector Space Model (VSM) to
exploit the statistical information of terms in the documents and they
fail to address the semantic information as well as order of the terms
present in the documents. Although, the phrase based approach
follows the order of the terms present in the documents rather than
semantics behind the word. Therefore, a semantic concept based
approach is used in this paper for enhancing the semantics by
incorporating the ontology information. In this paper a novel method
is proposed to forecast the intraday stock market price directional
movement based on the sentiments from Twitter and money control
news articles. The stock market forecasting is a very difficult and
highly complicated task because it is affected by many factors such
as economic conditions, political events and investor’s sentiment etc.
The stock market series are generally dynamic, nonparametric, noisy
and chaotic by nature. The sentiment analysis along with wisdom of
crowds can automatically compute the collective intelligence of
future performance in many areas like stock market, box office sales
and election outcomes. The proposed method utilizes collective
sentiments for stock market to predict the stock price directional
movements. The collective sentiments in the above social media have
powerful prediction on the stock price directional movements as
up/down by using Granger Causality test.
Abstract: In the past researchers have questioned the
effectiveness of ethics training in higher education. Also, there are
observations that support the view that ethical behaviour (range of
actions)/ethical decision making models used in the past make use of
vignettes to explain ethical behaviour. The understanding remains in
the perspective that these vignettes play a limited role in determining
individual intentions and not actions. Some authors have also agreed
that there are possibilities of differences in one’s intentions and
actions. This paper makes an attempt to fill those gaps by evaluating
real actions rather than intentions. In a way this study suggests the
use of an experiential methodology to explore Berlo’s model of
communication as an action along with orchestration of various
principles. To this endeavor, an attempt was made to use
conversational analysis in the pursuance of evaluating ethical
decision making behaviour among students and middle level
managers. The process was repeated six times with the set of an
average of 15 participants. Similarities have been observed in the
behaviour of students and middle level managers that calls for
understanding that both the groups of individuals have no cognizance
of their actual actions. The deliberations derived out of conversation
were taken a step forward for meta-ethical evaluations to portray a
clear picture of ethical behaviour among participants. This study
provides insights for understanding demonstrated unconscious human
behaviour which may fortuitously be termed both ethical and
unethical.
Abstract: The paper discusses mineral water consumer market
and development policy in Georgia, the tools and measures, which
will contribute to production of mineral waters and increase its
export.
The paper studies and analyses current situation in mineral water
production sector as well as the factors affecting increase and
reduction of its export. It’s noted that in order to gain and maintain
competitive advantage, it’s necessary to provide continuous supply of
high quality goods with modern design, open new distribution
channels to enter new markets, carry out broad promotional activities,
organize e-commerce. Economic policy plays an important role in
protecting markets from counterfeit goods. The state also plays an
important role in attracting foreign direct investments. Stable
business environment and export oriented strategy is the basis for the
country’s economic growth.
Based on the research, the paper suggests the strategy for
improving competitiveness of Georgian mineral waters; relevant
conclusions and recommendations are provided.
Abstract: Employer branding is considered as a useful tool for
addressing the global-local problem facing complex organisations
that have operations scattered across the globe and face challenges of
dealing with the local environment alongside. Despite being an
established field of study within the Western developed world, there
is little empirical evidence concerning the relevance of employer
branding to global companies that operate in the under-developed
economies. This paper fills this gap by gaining rich insight into the
implementation of employer branding programs in a foreign
multinational operating in Pakistan dealing with the global-local
problem. The study is qualitative in nature and employs semistructured
and focus group interviews with senior/middle managers
and local frontline employees to deeply examine the phenomenon in
case organisation. Findings suggest that authenticity is required in
employer brands to enable them to respond to the local needs thereby
leading to the resolution of the global-local problem. However, the
role of signaling theory is key to the development of authentic
employer brands as it stresses on the need to establish an efficient and
effective signaling environment where in signals travel in both
directions (from signal designers to receivers and backwards) and
facilitate firms with the global-local problem. The paper also
identifies future avenues of research for the employer branding field.
Abstract: This study examined how individuals in their
respective teams contributed to innovation performance besides
defining the term of innovation in their own respective views. This
study also identified factors that motivated University staff to
contribute to the innovation products. In addition, it examined
whether there is a significant relationship between professional
training level and the length of service among university staff
towards innovation and to what extent do the two variables
contributed towards innovative products. The significance of this
study is that it revealed the strengths and weaknesses of the
university staff when contributing to innovation performance.
Stratified-random sampling was employed to determine the samples
representing the population of lecturers in the study, involving 123
lecturers in one of the local universities in Malaysia. The method
employed to analyze the data is through categorizing into themes for
the open-ended questions besides using descriptive and inferential
statistics for the quantitative data. This study revealed that two types
of definition for the term “innovation” exist among the university
staff, namely, creation of new product or new approach to do things
as well as value-added creative way to upgrade or improve existing
process and service to be more efficient. This study found that the
most prominent factor that propels them towards innovation is to
improve the product in order to benefit users, followed by selfsatisfaction
and recognition. This implies that the staff in the
organization viewed the creation of innovative products as a process
of growth to fulfill the needs of others and also to realize their
personal potential. This study also found that there was only a
significant relationship between the professional training level and
the length of service of 4 - 6 years among the university staff. The
rest of the groups based on the length of service showed that there
was no significant relationship with the professional training level
towards innovation. Moreover, results of the study on directional
measures depicted that the relationship for the length of service of 4-
6 years with professional training level among the university staff is
quite weak. This implies that good organization management lies on
the shoulders of the key leaders who enlighten the path to be
followed by the staff.
Abstract: In our research we aimed to test a managerial
approach for the fuzzy front end (FFE) of innovation by creating
controlled experiment/ business case in a breakthrough innovation
development. The experiment was in the sport industry and covered
all aspects of the customer discovery stage from ideation to
prototyping followed by patent application. In the paper we describe
and analyze mile stones, tasks, management challenges, decisions
made to create the break through innovation, evaluate overall
managerial efficiency that was at the considered FFE stage.
We set managerial outcome of the FFE stage as a valid product
concept in hand. In our paper we introduce hypothetical construct
“Q-factor” that helps us in the experiment to distinguish quality of
FFE outcomes.
The experiment simulated for entrepreneur the FFE of innovation
and put on his shoulders responsibility for the outcome of valid
product concept. While developing managerial approach to reach the
outcome there was a decision to look on product concept from the
cognitive psychology and cognitive science point of view. This view
helped us to develop the profile of a person whose projection (mental
representation) of a new product could optimize for a manager or
entrepreneur FFE activities. In the experiment this profile was tested
to develop breakthrough innovation for swimmers. Following the
managerial approach the product concept was created to help
swimmers to feel/sense water. The working prototype was developed
to estimate the product concept validity and value added effect for
customers.
Based on feedback from coachers and swimmers there were strong
positive effect that gave high value for customers, and for the
experiment – the valid product concept being developed by proposed
managerial approach for the FFE.
In conclusions there is a suggestion of managerial approach that
was derived from experiment.
Abstract: The intrinsic contradictions of entrepreneurship
development and self-development strategies complicate the task of
reaching compliance between the state economic policy and the
company entrepreneurship policy: on the one hand, there is a
contradiction between the social and the competitive order within
economic order policy and on the other hand, the contradiction exists
between entrepreneurship strategy and entrepreneurship culture
within entrepreneurship policy.
Abstract: The paper presents a new method for efficient
innovation process management. Even though the innovation
management methods, tools and knowledge are well established and
documented in literature, most of the companies still do not manage it
efficiently. Especially in SMEs the front end of innovation - problem
identification, idea creation and selection - is often not optimally
performed. Our eMIPS methodology represents a sort of "umbrella
methodology" - a well-defined set of procedures, which can be
dynamically adapted to the concrete case in a company. In daily
practice, various methods (e.g. for problem identification and idea
creation) can be applied, depending on the company's needs. It is
based on the proactive involvement of the company's employees
supported by the appropriate methodology and external experts. The
presented phases are performed via a mixture of face-to-face
activities (workshops) and online (eLearning) activities taking place
in eLearning Moodle environment and using other e-communication
channels. One part of the outcomes is an identified set of
opportunities and concrete solutions ready for implementation. The
other also very important result is connected to innovation
competences for the participating employees related with concrete
tools and methods for idea management. In addition, the employees
get a strong experience for dynamic, efficient and solution oriented
managing of the invention process. The eMIPS also represents a way
of establishing or improving the innovation culture in the
organization. The first results in a pilot company showed excellent
results regarding the motivation of participants and also as to the
results achieved.