Abstract: According to the existing literature, companies manage analysts’ expectations of their future earnings by issuing pessimistic
earnings guidance to meet the expectations. Consequently, one could expect that markets price this pessimistic bias in advance and penalize companies more for lowering the guidance than reward for beating the guidance. In this paper we confirm this empirically. In addition we show that although guidance revisions have a statistically significant relation to stock returns, that is not the case with the actual earnings surprise. Reason for this could be that, after the annual earnings report also information on future earnings power is given at the same time.
Abstract: In times of global warming and the increasing
shortage of resources, sustainable production is becoming more and
more inevitable. Companies cannot only heighten their
competitiveness but also contribute positively to environmental
protection through efficient energy and resource consumption.
Regarding this, technical solutions are often preferred during
production, although organizational and process-related approaches
also offer great potential. This project focuses on reducing resource
usage, with a special emphasis on the human factor. It is the
aspiration to develop a methodology that systematically implements
and embeds suitable and individual measures and methods regarding
resource efficiency throughout the entire production. The measures
and methods established help employees handle resources and energy
more sensitively. With this in mind, this paper also deals with the
difficulties that can occur during the sensitization of employees and
the implementation of these measures and methods. In addition,
recommendations are given on how to avoid such difficulties.
Abstract: The idea of Lean Manufacturing has been known for 20 years. In Polish enterprises its first implementation took place in the automotive industry in the 90s. Many companies, in order to reduce costs, use lower quality materials or overload employees with work and do not notice other possibilities for improving the company’s effectiveness. Enterprises are afraid of the unknown. And that is the problem in many cases with the Lean Manufacturing conception. This article presents the study results conducted in enterprises, the aim of which was to identify waste awareness and the need of lean manufacturing implementation. The authors also wanted to gain information on the most commonly used tools and the way of implementation and the methods of the effects assessment of using the mentioned conception. The study was conducted in large enterprises located on a limited area.
Abstract: The paper deals with the analysis of hazards and sensitivity of potential resource of emergency water supply of population in a selected region of the Czech Republic. The procedure of identification and analysis of hazards and sensitivity is carried out on the basis of a unique methodology of classifying the drinking water resources earmarked for emergency supply of population. The hazard identification is based on a general register of hazards for individual parts of hydrological structure and the elements of technological equipment. It is followed by a semi-quantitative point indexation for the activation of each identified hazard, i.e. fires of anthropogenic origin, flood and the increased radioactive background accompanied by the leak of radon. Point indexation of sensitivity has been carried out at the same time. The analysis is the basis for a risk assessment of potential resource of emergency supply of population and the subsequent classification of such resource within the system of crisis planning.
Abstract: Customer audits are generally used to ensure customer
that supplier is continuously able to meet his requirements while
supplying him required products and services. However, customer
audits can be considered as a very useful quality control tool for
suppliers as well. In our paper, we analyzed the process of customer
audits realized in Czech companies from both perspectives: a
supplier´s viewpoint and customer´s viewpoint. At the end, we tried
to emphasize some areas that should not be omitted during the audit
process.
Abstract: Building a service-centric business model requires
new knowledge and capabilities in companies. This paper enlightens
the challenges small and medium sized firms (SMEs) face when
developing their service-centric business models. This paper
examines the premise for knowledge transfer and capability
development required. The objective of this paper is to increase
knowledge about SME-s transformation to service-centric business
models.This paper reports an action research based case study. The
paper provides empirical evidence from three case companies. The
empirical data was collected through multiple methods. The findings
of the paper are: First, the developed model to analyze the current
state in companies. Second, the process of building the service –
centric business models. Third, the selection of suitable service
development methods. The lack of a holistic understanding on
service logic suggests that SMEs need practical and easy to use
methods to improve their business
Abstract: Recent environmental turbulence including financial
crisis, intensified competitive forces, rapid technological change and
high market turbulence have dramatically changed the current
business climate. The managers firms have to plan and decide what
the best approaches that best fit their firms in order to pursue superior
performance. This research aims to examine the influence of strategic
reasoning and top level managers- individual characteristics on the
effectiveness of organizational improvisation and firm performance.
Given the lack of studies on these relationships in the previous
literature, there is significant contribution to the body of knowledge
as well as for managerial practices. 128 responses from top
management of technology-based companies in Malaysia were used
as a sample. Three hypotheses were examined and the findings
confirm that (a) there is no relationship between intuitive reasoning
and organizational improvisation but there is a link between rational
reasoning and organizational improvisation, (b) top level managers-
individual characteristics as a whole affect organizational
improvisation; and (c) organizational improvisation positively affects
firm performance. The theoretical and managerial implications were
discussed in the conclusions.
Abstract: Defect prevention is the most vital but habitually
neglected facet of software quality assurance in any project. If
functional at all stages of software development, it can condense the
time, overheads and wherewithal entailed to engineer a high quality
product. The key challenge of an IT industry is to engineer a
software product with minimum post deployment defects.
This effort is an analysis based on data obtained for five selected
projects from leading software companies of varying software
production competence. The main aim of this paper is to provide
information on various methods and practices supporting defect
detection and prevention leading to thriving software generation. The
defect prevention technique unearths 99% of defects. Inspection is
found to be an essential technique in generating ideal software
generation in factories through enhanced methodologies of abetted
and unaided inspection schedules. On an average 13 % to 15% of
inspection and 25% - 30% of testing out of whole project effort time
is required for 99% - 99.75% of defect elimination.
A comparison of the end results for the five selected projects
between the companies is also brought about throwing light on the
possibility of a particular company to position itself with an
appropriate complementary ratio of inspection testing.
Abstract: In the 1980s, companies began to feel the effect of three major influences on their product development: newer and innovative technologies, increasing product complexity and larger organizations. And therefore companies were forced to look for new product development methods. This paper tries to focus on the two of new product development methods (DFM and CE). The aim of this paper is to see and analyze different product development methods specifically on Design for Manufacturability and Concurrent Engineering. Companies can achieve and be benefited by minimizing product life cycle, cost and meeting delivery schedule. This paper also presents simplified models that can be modified and used by different companies based on the companies- objective and requirements. Methodologies that are followed to do this research are case studies. Two companies were taken and analysed on the product development process. Historical data, interview were conducted on these companies in addition to that, Survey of literatures and previous research works on similar topics has been done during this research. This paper also tries to show the implementation cost benefit analysis and tries to calculate the implementation time. From this research, it has been found that the two companies did not achieve the delivery time to the customer. Some of most frequently coming products are analyzed and 50% to 80 % of their products are not delivered on time to the customers. The companies are following the traditional way of product development that is sequentially design and production method, which highly affect time to market. In the case study it is found that by implementing these new methods and by forming multi disciplinary team in designing and quality inspection; the company can reduce the workflow steps from 40 to 30.
Abstract: The service industry accounts for about 70% of GDP of
Japan, and the importance of the service innovation is pointed out. The
importance of the system use and the support service increases in the
information system that is one of the service industries. However,
because the system is not used enough, the purpose for which it was
originally intended cannot often be achieved in the CRM system. To
promote the use of the system, the effective service method is needed.
It is thought that the service model's making and the clarification of the
success factors are necessary to improve the operation service of the
CRM system. In this research the model of the operation service in the
CRM system is made.
Abstract: To achieve competitive advantage nowadays, most of
the industrial companies are considering that success is sustained to
great product development. That is to manage the product throughout
its entire lifetime ranging from design, manufacture, operation and
destruction. Achieving this goal requires a tight collaboration
between partners from a wide variety of domains, resulting in various
product data types and formats, as well as different software tools. So
far, the lack of a meaningful unified representation for product data
semantics has slowed down efficient product development. This
paper proposes an ontology based approach to enable such semantic
interoperability. Generic and extendible product ontology is
described, gathering main concepts pertaining to the mechanical field
and the relations that hold among them. The ontology is not
exhaustive; nevertheless, it shows that such a unified representation
is possible and easily exploitable. This is illustrated thru a case study
with an example product and some semantic requests to which the
ontology responds quite easily. The study proves the efficiency of
ontologies as a support to product data exchange and information
sharing, especially in product development environments where
collaboration is not just a choice but a mandatory prerequisite.
Abstract: Web-based systems have become increasingly
important due to the fact that the Internet and the World Wide Web
have become ubiquitous, surpassing all other technological
developments in our history. The Internet and especially companies
websites has rapidly evolved in their scope and extent of use, from
being a little more than fixed advertising material, i.e. a "web
presences", which had no particular influence for the company's
business, to being one of the most essential parts of the company's
core business.
Traditional software engineering approaches with process models
such as, for example, CMM and Waterfall models, do not work very
well since web system development differs from traditional
development. The development differs in several ways, for example,
there is a large gap between traditional software engineering designs
and concepts and the low-level implementation model, many of the
web based system development activities are business oriented (for
example web application are sales-oriented, web application and
intranets are content-oriented) and not engineering-oriented.
This paper aims to introduce Increment Iterative extreme
Programming (IIXP) methodology for developing web based
systems. In difference to the other existence methodologies, this
methodology is combination of different traditional and modern
software engineering and web engineering principles.
Abstract: Increasing attention has been given in academia to the concept of corporate social responsibility. Also, the number of companies that undertake social responsibility initiatives has been boosting day by day since behaving in a socially responsible manner brings a lot to the companies. Literature provides various benefits of social responsibility and under which situations these benefits could be realized. However, most of these studies focus on one aspect of the consequences of behaving in a socially responsible manner and there is no study that unifies the conditions that a company should fulfill to make customers prefer its brand. This study aims to fill this gap. More specifically, the purpose of this study is to identify the conditions that a socially responsible company should fulfill in order to attract customers. To this end, a scale is developed and its reliability and validity is assessed through the method of Multitrait- Multimethod Matrix.
Abstract: The purpose of this paper is to propose a text mining
approach to evaluate companies- practices on affective management.
Affective management argues that it is critical to take stakeholders-
affects into consideration during decision-making process, along with
the traditional numerical and rational indices. CSR reports published
by companies were collected as source information. Indices were
proposed based on the frequency and collocation of words relevant to
affective management concept using text mining approach to analyze
the text information of CSR reports. In addition, the relationships
between the results obtained using proposed indices and traditional
indicators of business performance were investigated using
correlation analysis. Those correlations were also compared between
manufacturing and non-manufacturing companies. The results of this
study revealed the possibility to evaluate affective management
practices of companies based on publicly available text documents.
Abstract: In today-s competitive market, most companies
develop manufacturing systems that can help in cost reduction and
maximum quality. Human issues are an important part of
manufacturing systems, yet most companies ignore their effects on
production performance. This paper aims to developing an integrated
workforce planning system that incorporates the human being.
Therefore, a multi-objective mixed integer nonlinear programming
model is developed to determine the amount of hiring, firing,
training, overtime for each worker type. This paper considers a
workforce planning model including human aspects such as skills,
training, workers- personalities, capacity, motivation, and learning
rates. This model helps to minimize the hiring, firing, training and
overtime costs, and maximize the workers- performance. The results
indicate that the workers- differences should be considered in
workforce scheduling to generate realistic plans with minimum costs.
This paper also investigates the effects of human learning rates on the
performance of the production systems.
Abstract: The prediction of meteorological parameters at a
meteorological station is an interesting and open problem. A firstorder
linear dynamic model GM(1,1) is the main component of the
grey system theory. The grey model requires only a few previous data
points in order to make a real-time forecast. In this paper, we
consider the daily average ambient temperature as a time series and
the grey model GM(1,1) applied to local prediction (short-term
prediction) of the temperature. In the same case study we use a fuzzy
predictive model for global prediction. We conclude the paper with a
comparison between local and global prediction schemes.
Abstract: Recently, business environment and customer needs
have become rapidly changing, hence it is very difficult to fulfill
sophisticated customer needs by product or service innovation only. In
practice, to cope with this problem, various manufacturing companies
have developed services to combine with their products. Along with
this, many academic studies on PSS (Product Service System) which is
the integrated system of products and services have been conducted
from the viewpoint of manufacturers. On the other hand, service
providers are also attempting to develop service-supporting products
to increase their service competitiveness and provide differentiated
value. However, there is a lack of research based on the service-centric
point of view. Accordingly, this paper proposes a concept generation
method for service-supporting product development from the
service-centric point of view. This method is designed to be executed
in five consecutive steps: situation analysis, problem definition,
problem resolution, solution evaluation, and concept generation. In
the proposed approach, some tools of TRIZ (Theory of Solving
Inventive Problem) such as ISQ (Innovative Situation Questionnaire)
and 40 inventive principles are employed in order to define problems
of the current services and solve them by generating
service-supporting product concepts. This research contributes to the
development of service-supporting products and service-centric PSSs.
Abstract: In the current context of globalization, a large number of companies sought to develop as a group in order to reach to other markets or meet the necessary criteria for listing on a stock exchange. The issue of consolidated financial statements prepared by a parent, an investor or a venture and the financial reporting standards guiding them therefore becomes even more important. The aim of our paper is to expose this issue in a consistent manner, first by summarizing the international accounting and financial reporting standards applicable before the 1st of January 2013 and considering the role of the crisis in shaping the standard setting process, and secondly by analyzing the newly issued/modified standards and main changes being brought
Abstract: International trade involves both large and small firms
engaged in business overseas. Possible drivers that force companies
to enter international markets include increasing competition at the
domestic market, maturing domestic markets, and limited domestic
market opportunities. Technology is an important driving factor in
shaping international marketing strategy as well as in driving force
towards a more global marketplace, especially technology in
communication. It includes telephones, the internet, computer
systems and e-mail. There are three main marketing strategy choices,
namely standardization approach, adaptation approach and middleof-
the-road approach that companies implement to overseas markets.
The decision depends on situations and factors facing the companies
in the international markets. In this paper, the contingency concept is
considered that no single strategy can be effective in all contexts.
The effect of strategy on performance depends on specific situational
variables. Strategic fit is employed to investigate export marketing
strategy adaptation under certain environmental conditions, which in
turn can lead to superior performance.
Abstract: The importance of supply chain and logistics
management has been widely recognised. Effective management of
the supply chain can reduce costs and lead times and improve
responsiveness to changing customer demands. This paper proposes a
multi-matrix real-coded Generic Algorithm (MRGA) based
optimisation tool that minimises total costs associated within supply
chain logistics. According to finite capacity constraints of all parties
within the chain, Genetic Algorithm (GA) often produces infeasible
chromosomes during initialisation and evolution processes. In the
proposed algorithm, chromosome initialisation procedure, crossover
and mutation operations that always guarantee feasible solutions
were embedded. The proposed algorithm was tested using three sizes
of benchmarking dataset of logistic chain network, which are typical
of those faced by most global manufacturing companies. A half
fractional factorial design was carried out to investigate the influence
of alternative crossover and mutation operators by varying GA
parameters. The analysis of experimental results suggested that the
quality of solutions obtained is sensitive to the ways in which the
genetic parameters and operators are set.