Abstract: Microscopic simulation tool kits allow for
consideration of the two processes of railway operations and the
previous timetable production. Block occupation conflicts on both
process levels are often solved by using defined train priorities. These
conflict resolutions (dispatching decisions) generate reactionary
delays to the involved trains. The sum of reactionary delays is
commonly used to evaluate the quality of railway operations, which
describes the timetable robustness. It is either compared to an
acceptable train performance or the delays are appraised
economically by linear monetary functions. It is impossible to
adequately evaluate dispatching decisions without a well-founded
objective function. This paper presents a new approach for the
evaluation of dispatching decisions. The approach uses mode choice
models and considers the behaviour of the end-customers. These
models evaluate the reactionary delays in more detail and consider
other competing modes of transport. The new approach pursues the
coupling of a microscopic model of railway operations with the
macroscopic choice mode model. At first, it will be implemented for
railway operations process but it can also be used for timetable
production. The evaluation considers the possibility for the customer
to interchange to other transport modes. The new approach starts to
look at rail and road, but it can also be extended to air travel. The
result of mode choice models is the modal split. The reactions by the
end-customers have an impact on the revenue of the train operating
companies. Different purposes of travel have different payment
reserves and tolerances towards late running. Aside from changes to
revenues, longer journey times can also generate additional costs.
The costs are either time- or track-specific and arise from required
changes to rolling stock or train crew cycles. Only the variable values
are summarised in the contribution margin, which is the base for the
monetary evaluation of delays. The contribution margin is calculated
for different possible solutions to the same conflict. The conflict
resolution is optimised until the monetary loss becomes minimal. The
iterative process therefore determines an optimum conflict resolution
by monitoring the change to the contribution margin. Furthermore, a
monetary value of each dispatching decision can also be derived.
Abstract: This paper deals with various questions related to
functionality and providing banking services in the European union
on the Internet. Due to the fact that we live in the information
technologies era, the Internet become a new space for doing
economic and business activities in all areas, and especially important
in banking. Accepting the busy tempo of life, in the past several years
electronic banking has become necessity and a must for most users of
banking services. On a sample of 300 web sites of the banks
operating in European Union (EU) we conduct the research on the
functionality of e-banking services offered through banks web sites
with the key objective to reveal to what extent the information
technologies are used in their business operations. Characteristics of
EU banks websites will be examined and compared to the basic
groups of business activities on the web. Also some
recommendations for the successful bank web sites will be provided.
Abstract: With the flourishing development of online shopping,
an increasing number of customers see online shopping as an
entertaining experience. Because the online consumer has a double
identity as a shopper and an Internet user, online shopping should offer
hedonic values of shopping and Internet usage. The purpose of this
study is to investigate hedonic online shopping motivations from the
perspectives of traditional hedonic value and flow theory.
The study adopted a focus group interview method, including two
online and two offline interviews. Four focus groups of shoppers
consisted of online professionals, online college students, offline
professionals and offline college students. The results of the study
indicate that traditional hedonic values and dimensions of flow theory
exist in the online shopping environment. The study indicated that
online shoppers seem to appreciate being able to learn things and grow
to become competitive achievers online. Comparisons of online
hedonic motivations between groups are conducted. This study serves
as a basis for the future growth of Internet marketing.
Abstract: The aim of this paper is to present the concept of an
agile enterprise model and to initiate discussion on the research
assumptions of the model presented. The implementation of the
research project "The agility of enterprises in the process of adapting
to the environment and its changes" began in August 2014 and is
planned to last three years. The article has the form of a work-inprogress
paper which aims to verify and initiate a debate over the
proposed research model. In the literature there are very few
publications relating to research into agility; it can be concluded that
the most controversial issue in this regard is the method of measuring
agility. In previous studies the operationalization of agility was often
fragmentary, focusing only on selected areas of agility, for example
manufacturing, or analysing only selected sectors. As a result the
measures created to date can only be treated as contributory to the
development of precise measurement tools. This research project
aims to fill a cognitive gap in the literature with regard to the
conceptualization and operationalization of an agile company. Thus,
the original contribution of the author of this project is the
construction of a theoretical model that integrates manufacturing
agility (consisting mainly in adaptation to the environment) and
strategic agility (based on proactive measures). The author of this
research project is primarily interested in the attributes of an agile
enterprise which indicate that the company is able to rapidly adapt to
changing circumstances and behave pro-actively.
Abstract: The need to use high volumes of data and the high
competition are only two reasons which make necessary the use of
information technologies. The objective of our research is to establish
the impact of information technologies on the accounting department
of the Romanian companies. In order to achieve it, starting from the
literature review we made an empirical research based on a
questionnaire. We investigated the types of technologies used, the
reasons which led to the implementation of certain technologies, the
benefits brought by the use of the information technologies, the
difficulties brought by the implementation and the future effects of
the applications. The conclusions show that there is an evolution in
the degree of implementation of the information technologies in the
Romanian companies, compared with the results of other studies
conducted a few years before.
Abstract: This paper examines the utilization of public-private
partnerships for the building and operation of wastewater treatment
plants. Our research focuses on risk allocation in this kind of projects.
Our analysis builds on more than hundred wastewater treatment
plants built and operated through PPP projects in Aragon (Spain).
The paper illustrates the consequences of an inadequate management
of construction risk and an unsuitable transfer of demand risk in
wastewater treatment plants. It also shows that the involvement of
many public bodies at local, regional and national level further
increases the complexity of this kind of projects and make time
delays more likely.
Abstract: This paper investigates and compares the community
support for tourism development between two groups of minority
ethnic descendants in Malacca, Malaysia, namely the Baba-Nyonya
and Portuguese. A descriptive research design using a quantitative
method with self-reported and self-administered questionnaires
through across-sectional approach was applied. Through the
descriptive and inferential statistics, some significantly useful
insights pertaining to the issue investigated were obtained. The
research outcomes indicate that the sense of community is somewhat
more effective in small communities in terms of togetherness,
closeness and a sense of belonging compared to the slightly bigger
minority group. In addition, the sense of community attributes
through membership, influence, integration and shared emotional
connections contributes to community participation in tourism
development regardless of which ethnic group one belongs to.
Abstract: The US Consumer Price Indices (CPIs) measures
hundreds of items in the US economy. Many social programs
and government benefits index to the CPIs. The purpose of
this project is to modernize an existing process. This paper will
show the development of a small, visual, software product that
documents the Economic Price Adjustment (EPA) for longterm
contracts. The existing workbook does not provide the
flexibility to calculate EPAs where the base-month and the
option-month are different. Nor does the workbook provide
automated error checking. The small, visual, software product
provides the additional flexibility and error checking. This
paper presents the feedback to project.
Abstract: The purpose of the paper is to estimate the US small
wind turbines market potential and forecast the small wind turbines
sales in the US. The forecasting method is based on the application of
the Bass model and the generalized Bass model of innovations
diffusion under replacement purchases. In the work an exponential
distribution is used for modeling of replacement purchases. Only one
parameter of such distribution is determined by average lifetime of
small wind turbines. The identification of the model parameters is
based on nonlinear regression analysis on the basis of the annual
sales statistics which has been published by the American Wind
Energy Association (AWEA) since 2001 up to 2012. The estimation
of the US average market potential of small wind turbines (for
adoption purchases) without account of price changes is 57080
(confidence interval from 49294 to 64866 at P = 0.95) under average
lifetime of wind turbines 15 years, and 62402 (confidence interval
from 54154 to 70648 at P = 0.95) under average lifetime of wind
turbines 20 years. In the first case the explained variance is 90,7%,
while in the second - 91,8%. The effect of the wind turbines price
changes on their sales was estimated using generalized Bass model.
This required a price forecast. To do this, the polynomial regression
function, which is based on the Berkeley Lab statistics, was used. The
estimation of the US average market potential of small wind turbines
(for adoption purchases) in that case is 42542 (confidence interval
from 32863 to 52221 at P = 0.95) under average lifetime of wind
turbines 15 years, and 47426 (confidence interval from 36092 to
58760 at P = 0.95) under average lifetime of wind turbines 20 years.
In the first case the explained variance is 95,3%, while in the second
– 95,3%.
Abstract: Rapid growth of Information Technologies (IT) has
had huge influence on enterprises, and it has contributed to its
promotion and increasingly extensive use in enterprises. Information
Technologies have to a large extent determined the processes taking
place in an enterprise; what is more, IT development has brought the
need to adopt a brand new approach to human resources management
in an enterprise. The use of IT in human resource management
(HRM) is of high importance due to the growing role of information
and information technologies. The aim of this paper is to evaluate the
use of information technologies in human resources management in
enterprises. These practices will be presented in the following areas:
recruitment and selection, development and training, employee
assessment, motivation, talent management, personnel service.
Results of conducted survey show diversity of solutions applied in
particular areas of human resource management. In the future, further
development in this area should be expected, as well as integration of
individual HRM areas, growing mobile-enabled HR processes and
their transfer into the cloud. Presented IT solutions applied in HRM
are highly innovative, which is of great significance due to their
possible implementation in other enterprises.
Abstract: The main purpose of this study was to figure out
employees’ attitudes toward the new performance appraisal program
and to examine whether three different types of appraisal processes
differentially affected job satisfaction and employee engagement. The
second purpose of this study was to investigate the relationship
between performance appraisal reform, job satisfaction, and employee
engagement. A large polyester and textile corporation had 2046
non-operational employees in February 2014. The valid participants
were 1474 (72.04%) in this study. Data analysis included descriptive
statistics, one-way ANOVA, one-way MANOVA, Pearson correlation,
Content Validity Index, the exploratory factor analysis, and reliability
analysis. The general results showed that employees who received the
new performance appraisal program evaluated the program more
positively and showed more job satisfaction than those who did not. In
particular, the implementation effects of this new performance
appraisal program were most highly rated by employees who used the
KPI to rate their job performance. Moreover, employees’ attitudes
toward the new performance appraisal program were positively related
to their job satisfaction and employee engagement. Lastly, most
employees regarded themselves as engaged workers. To sum up, the
HR department of this company has made an effective contribution to
performance appraisal reforms.
Abstract: Authenticity in advertising is the cornerstone of
modern marketing. Despite research advances related to the role of
authenticity in marketing, it remains unclear why customers respond to
authentic brand stories. The results show that different personality
traits will moderate the influence of different authenticity on the levels
of emotion. Whether indexically authentic or iconically authentic
advertisements were shown to extroverts, open people and agreeable
people, they will evoke more positive emotions. When neurotic people
and conscientious people see the iconically authentic advertising
rather than the indexically authentic advertising, they will produce
more negative emotions. In addition, the emotion evoked by
advertising had significant positive impact on brand attitude evoked by
advertising had significant negative impact on brand attitude. These
findings provide some managerial implications and directions for
further research.
Abstract: In this study, one of the tools of Islamic financing
known as “Sukuk” a non-interest bearing investment which has
started to be implemented in Turkey and the world as a whole is
discussed. In order to increase the vitality and efficiency of the
economy, by taking lessons from the recent economic crisis new
developments in the banking and investment sector are being
expanded. The purpose of all investors is to obtain more revenue
through the use of capital. The inability of traditional investment
tools to meet the expectations of investors and the interest based
financial system where one investor benefits at the expense of
another there has been the need for a different, reliable and noninterest
bearing financial market that is consistent with the Islamic
rule. As a result an alternative and more reliable interest free
financing tool “Sukuk” rental certificates covering people who are
sensitive to Islamic rules, appeal to all segments, hidden remaining
capital that contributes to the economy, reduce disparities in income
distribution, common risk sharing system of profit and loss sharing
has emerged. Today, for the structural countries by examining the
state of the world market economy the applicability, enactment and
future issues associated with this attractive kind of Islamic finance
namely the “Sukuk” market has been explained.
Abstract: The concept of economic policy and the practical
economic policy diverge from each other at a certain stage of
development. This is related to the concept of realization of the
underlying problems. It comes with all the problems emerged in the
market oriented economic order due to the political processes based
on social welfare policy. The realization of the concept of economic
policy is impeded by economic and political obstacles. If you want to
fill the appeared between the concept and reality, it is necessary to
identify and avoid these obstacles. It requires the following: increase
of the level of the knowledge of prevention technology in
understanding of economic relations, as well as political aspects of
the formation of ideas; perfection of economic policy toolkit, and
political methods.
It is necessary to realize what is the main precondition of
implementation and further development of the concept of economic
policy, as well as the formation of opinions about economic and
public safety. This is a broad consensus on the basic values of the
content and the scale of action, which the general public wants to be
realized.
Abstract: The substantial development of the construction
industry has forced the cement industry, its major support, to focus
on achieving maximum productivity to meet the growing demand for
this material. This means that the reliability of a cement production
system needs to be at the highest level that can be achieved by good
maintenance. This paper studies the extent to which the
implementation of RCM is needed as a strategy for increasing the
reliability of the production systems component can be increased,
thus ensuring continuous productivity. In a case study of four Libyan
cement factories, 80 employees were surveyed and 12 top and middle
managers interviewed. It is evident that these factories usually
breakdown more often than once per month which has led to a
decline in productivity. In many times they cannot achieve the
minimum level of production amount. This has resulted from the
poor reliability of their production systems as a result of poor or
insufficient maintenance. It has been found that most of the factories’
employees misunderstand maintenance and its importance. The main
cause of this problem is the lack of qualified and trained staff, but in
addition it has been found that most employees are not found to be
motivated as a result of a lack of management support and interest. In
response to these findings, it has been suggested that the RCM
strategy should be implemented in the four factories. The results
show the importance of the development of maintenance strategies
through the implementation of RCM in these factories. The purpose
of it would be to overcome the problems that could secure the
reliability of the production systems. This study could be a useful
source of information for academic researchers and the industrial
organizations which are still experiencing problems in maintenance
practices.
Abstract: The objective of this paper is to present the process of
change in management accounting in Romania, a former communist
country from Eastern Europe. In order to explain this process, we used
the contingency and institutional theories. We focused on the
following directions: the presentation of the scientific context and
motivation of this research and the case study. We presented the state
of the art in the process of change in the management accounting from
the international and national perspective. We also described the
evolution of management accounting in Romania in the context of
economic and political changes. An important moment was the fall of
communism in 1989. This represents a starting point for a new
economic environment and for new management accounting.
Accordingly, we developed a case study which presented this
evolution. The conclusion of our research was that the changes in the
management accounting system of the company analysed occurred in
the same time with the institutionalisation of some elements (e.g.
degree of competition, training and competencies in management
accounting). The management accounting system was modelled by the
contingencies specific to this company (e.g. environment, industry,
strategy).
Abstract: This paper addresses a cutting edge method of
business demand forecasting, based on an empirical probability
function when the historical behavior of the data is random.
Additionally, it presents error determination based on the numerical
method technique ‘propagation of errors.’ The methodology was
conducted characterization and process diagnostics demand planning
as part of the production management, then new ways to predict its
value through techniques of probability and to calculate their mistake
investigated, it was tools used numerical methods. All this based on
the behavior of the data. This analysis was determined considering
the specific business circumstances of a company in the sector of
communications, located in the city of Bogota, Colombia. In
conclusion, using this application it was possible to obtain the
adequate stock of the products required by the company to provide its
services, helping the company reduce its service time, increase the
client satisfaction rate, reduce stock which has not been in rotation
for a long time, code its inventory, and plan reorder points for the
replenishment of stock.
Abstract: Exploration and exploitation capabilities are both
important within Operations as means for improvement when
managed separately, and for establishing dynamic improvement
capabilities when combined in balance. However, it is unclear what
exploration and exploitation capabilities imply in improvement and
development work within an Operations context. So, in order to
better understand how to develop exploration and exploitation
capabilities within Operations, the main characteristics of these
constructs needs to be identified and further understood. Thus, the
objective of this research is to increase the understanding about
exploitation and exploration characteristics, to concretize what they
translates to within the context of improvement and development
work in an Operations unit, and to identify practical challenges. A
literature review and a case study are presented. In the literature
review, different interpretations of exploration and exploitation are
portrayed, key characteristics have been identified, and a deepened
understanding of exploration and exploitation characteristics is
described. The case in the study is an Operations unit, and the aim is
to explore to what extent and in what ways exploration and
exploitation activities are part of the improvement structures and
processes. The contribution includes an identification of key
characteristics of exploitation and exploration, as well as an
interpretation of the constructs. Further, some practical challenges are
identified. For instance, exploration activities tend to be given low
priority, both in daily work as in the manufacturing strategy. Also,
the overall understanding about the concepts of exploitation and
exploration (or any similar aspect of dynamic improvement
capabilities) is very low.
Abstract: Experimental economics is subject to criticism with
regards to frequently discussed the trade-off between internal and
external validity requirements, which seems to be critically flawed.
This paper evaluates incompatibility of trade-off condition and
condition of internal validity as a prerequisite for external validity. In
addition, it outlines the imprecise concept of artificiality, which is
found to be rather improving the external validity and seems to
strengthen the illusory status of external versus internal validity
tension. Internal validity is further analyzed with regards to Duhem-
Quine problem, where unpredictability argument is significantly
weakened trough application of inductivism within the illustrative
hypothetical-deductive model. Our discussion partially weakens
critical arguments related to the robustness of results in experimental
economics, if the perfectly controlled experimental environment is
secured.
Abstract: In this paper, the goal programming methodology for
solving multiple objective problem of the technological variants and
production plan optimization has been applied. The optimization
criteria are determined and the multiple objective linear programming
model for solving a problem of the technological variants and
production plan optimization is formed and solved. Then the obtained
results are analysed. The obtained results point out to the possibility
of efficient application of the goal programming methodology in
solving the problem of the technological variants and production plan
optimization. The paper points out on the advantages of the
application of the goal programming methodology compare to the
Surrogat Worth Trade-off method in solving this problem.