Abstract: Financial innovations can be regarded as the cause
and the effect of the evolution of the financial system. Most of
financial innovations are created by various financial institutions for
their own purposes and needs. However, due to their diversity,
financial innovations can be also applied by various business entities
(other than financial institutions).
This paper focuses on the potential application of financial
innovations by non-financial companies. It is assumed that financial
innovations may be effectively applied in all fields of corporate
financial decisions integrating financial management with the risk
management process. Appropriate application of financial
innovations may enhance the development of the company and
increase its value by improving its financial situation and reducing
the level of risk. On the other hand, misused financial innovations
may become the source of extra risk for the company threatening its
further operation.
The main objective of the paper is to identify the major types of
financial innovations offered to non-financial companies by the
banking system in Poland. It also aims at identifying the main factors
determining the creation of financial innovations in the banking
system in Poland and indicating future directions of their
development.
This paper consists of conceptual and empirical part. Conceptual
part based on theoretical study is focused on the determinants of the
process of financial innovations and their application by the nonfinancial
companies. Theoretical study is followed by the empirical
research based on the analysis of the actual offer of the 20 biggest
banks operating in Poland with regard to financial innovations
offered to SMEs and large corporations. These innovations are
classified according to the main functions of the integrated financial
management, such as financing, investment, working capital
management and risk management.
Empirical study has proved that the biggest banks operating in the
Polish market offer to their business customers many types and
classes of financial innovations. This offer appears vast and adequate
to the needs and purposes of the Polish non-financial companies. It
was observed that financial innovations pertained to financing
decisions dominate in the banks’ offer. However, due to high
diversification of the offered financial innovations, business
customers may effectively apply them in all fields and areas of
integrated financial management. It should be underlined, that the
banks’ offer is highly dispersed, which may limit the implementation
of financial innovations in the corporate finance. It would be also
recommended for the banks operating in the Polish market to
intensify the education campaign aiming at increasing knowledge
about financial innovations among business customers.
Abstract: Despite the advances made in various new
technologies, application of these technologies for agriculture still
remains a formidable task, as it involves integration of diverse
domains for monitoring the different process involved in agricultural
management. Advances in ambient intelligence technology represents
one of the most powerful technology for increasing the yield of
agricultural crops and to mitigate the impact of water scarcity,
climatic change and methods for managing pests, weeds and diseases.
This paper proposes a GPS-assisted, machine to machine solutions
that combine information collected by multiple sensors for the
automated management of paddy crops. To maintain the economic
viability of paddy cultivation, the various techniques used in
agriculture are discussed and a novel system which uses ambient
intelligence technique is proposed in this paper. The ambient
intelligence based agricultural system gives a great scope.
Abstract: Aging infrastructures became a serious social problem.
This brought out the increased need for the legislation of a new strict
guideline for infrastructure management. Although existing guidelines
provided basics of how to evaluate and manage the condition of
infrastructures, they needed improvements for their evaluation
procedures. Most guidelines mainly focused on the structural
condition of infrastructures and did not properly reflect service aspects
of infrastructures such as performance, public demand, capacity, etc.,
which were significantly valuable to public. Regardless of the
importance, these factors were often neglected in infrastructure
evaluations, because they were quite subjective and difficult to
quantify in rational manner. Thus, this study proposed a framework to
properly identify and evaluate the service indicators. This study
showed that service indicators could be grouped into two categories
and properly evaluated using AHP and Fuzzy. Overall, proposed
framework is expected to assist governmental agency in establishing
effective investment strategies for infrastructure improvements.
Abstract: Waste Load Allocation (WLA) strategies usually
intend to find economic policies for water resource management.
Water quality trading (WQT) is an approach that uses discharge
permit market to reduce total environmental protection costs. This
primarily requires assigning discharge limits known as total
maximum daily loads (TMDLs). These are determined by monitoring
organizations with respect to the receiving water quality and
remediation capabilities. The purpose of this study is to compare two
approaches of TMDL assignment for WQT policy in small catchment
area of Haraz River, in north of Iran. At first, TMDLs are assigned
uniformly for the whole point sources to keep the concentrations of
BOD and dissolved oxygen (DO) at the standard level at checkpoint
(terminus point). This was simply simulated and controlled by
Qual2kw software. In the second scenario, TMDLs are assigned
using multi objective particle swarm optimization (MOPSO) method
in which the environmental violation at river basin and total treatment
costs are minimized simultaneously. In both scenarios, the equity
index and the WLA based on trading discharge permits (TDP) are
calculated. The comparative results showed that using economically
optimized TMDLs (2nd scenario) has slightly more cost savings rather
than uniform TMDL approach (1st scenario). The former annually
costs about 1 M$ while the latter is 1.15 M$. WQT can decrease
these annual costs to 0.9 and 1.1 M$, respectively. In other word,
these approaches may save 35 and 45% economically in comparison
with command and control policy. It means that using multi objective
decision support systems (DSS) may find more economical WLA,
however its outcome is not necessarily significant in comparison with
uniform TMDLs. This may be due to the similar impact factors of
dischargers in small catchments. Conversely, using uniform TMDLs
for WQT brings more equity that makes stakeholders not feel that
much envious of difference between TMDL and WQT allocation. In
addition, for this case, determination of TMDLs uniformly would be
much easier for monitoring. Consequently, uniform TMDL for TDP
market is recommended as a sustainable approach. However,
economical TMDLs can be used for larger watersheds.
Abstract: Construction projects are information intensive in
nature and involve many activities that are related to each other.
Wireless technologies can be used to improve the accuracy and
timeliness of data collected from construction sites and shares it with
appropriate parties. Nonetheless, the construction industry tends to be
conservative and shows hesitation to adopt new technologies. A main
concern for owners, contractors or any person in charge on a job site
is the cost of the technology in question. Wireless technologies are
not cheap. There are a lot of expenses to be taken into consideration,
and a study should be completed to make sure that the importance
and savings resulting from the usage of this technology is worth the
expenses. This research attempts to assess the effectiveness of using
the appropriate wireless technologies based on criteria such as
performance, reliability, and risk. The assessment is based on a utility
function model that breaks down the selection issue into alternatives
attribute. Then the attributes are assigned weights and single
attributes are measured. Finally, single attribute are combined to
develop one single aggregate utility index for each alternative.
Abstract: Mitigating soil erosion, especially in Mediterranean
countries such as Greece, is essential in order to maintain
environmental and agricultural sustainability. In this paper, scientific
publications related to soil erosion studies in Greece were reviewed
and categorized. To accomplish this, the online search engine of
Scopus was used. The key words were “soil”, “erosion” and
“Greece.” An analysis of the published articles was conducted at
three levels: i) type of publication, ii) chronologic and iii) thematic. A
hundred and ten publications published in scientific journals were
reviewed. The results showed that the awareness regarding the soil
erosion in Greece has increased only in the last decades. The
publications covered a wide range of thematic categories such as the
type of studied areas, the physical phenomena that trigger and
influence the soil erosion, the negative anthropogenic impacts on
them, the assessment tools that were used in order to examine the
threat and the proper management. The analysis of these articles was
significant and necessary in order to find the scientific gaps of soil
erosion studies in Greece and help enhance the sustainability of soil
management in the future.
Abstract: This paper presents development results of usage of
C-OTDR monitoring systems for rail traffic management. The COTDR
method is based on vibrosensitive properties of optical fibers.
Analysis of Rayleigh backscattering radiation parameters changes
which take place due to microscopic seismoacoustic impacts on the
optical fiber allows to determine seismoacoustic emission source
positions and to identify their types. This approach proved successful
for rail traffic management (moving block system, weigh- in-motion
system etc.).
Abstract: This paper reviews the model-based qualitative and
quantitative Operations Management research in the context of
Construction Supply Chain Management (CSCM). Construction
industry has been traditionally blamed for low productivity, cost and
time overruns, waste, high fragmentation and adversarial
relationships. The construction industry has been slower than other
industries to employ the Supply Chain Management (SCM) concept
and develop models that support the decision-making and planning.
However the last decade there is a distinct shift from a project-based
to a supply-based approach of construction management. CSCM
comes up as a new promising management tool of construction
operations and improves the performance of construction projects in
terms of cost, time and quality. Modeling the Construction Supply
Chain (CSC) offers the means to reap the benefits of SCM, make
informed decisions and gain competitive advantage. Different
modeling approaches and methodologies have been applied in the
multi-disciplinary and heterogeneous research field of CSCM. The
literature review reveals that a considerable percentage of the CSC
modeling research accommodates conceptual or process models
which present general management frameworks and do not relate to
acknowledged soft Operations Research methods. We particularly
focus on the model-based quantitative research and categorize the
CSCM models depending on their scope, objectives, modeling
approach, solution methods and software used. Although over the last
few years there has been clearly an increase of research papers on
quantitative CSC models, we identify that the relevant literature is
very fragmented with limited applications of simulation,
mathematical programming and simulation-based optimization. Most
applications are project-specific or study only parts of the supply
system. Thus, some complex interdependencies within construction
are neglected and the implementation of the integrated supply chain
management is hindered. We conclude this paper by giving future
research directions and emphasizing the need to develop optimization
models for integrated CSCM. We stress that CSC modeling needs a
multi-dimensional, system-wide and long-term perspective. Finally,
prior applications of SCM to other industries have to be taken into
account in order to model CSCs, but not without translating the
generic concepts to the context of construction industry.
Abstract: The flow duration curve (FDC) is an informative
method that represents the flow regime’s properties for a river basin.
Therefore, the FDC is widely used for water resource projects such as
hydropower, water supply, irrigation and water quality management.
The primary purpose of this study is to obtain synthetic daily flow
duration curves for Çoruh Basin, Turkey. For this aim, we firstly
developed univariate auto-regressive moving average (ARMA)
models for daily flows of 9 stations located in Çoruh basin and then
these models were used to generate 100 synthetic flow series each
having same size as historical series. Secondly, flow duration curves
of each synthetic series were drawn and the flow values exceeded 10,
50 and 95% of the time and 95% confidence limit of these flows were
calculated. As a result, flood, mean and low flows potential of Çoruh
basin will comprehensively be represented.
Abstract: For this study, a town based soil database created in
Gümüsçay District of Biga Town, Çanakkale, Turkey. Crop and
livestock production are major activities in the district. Nutrient
management is mainly based on commercial fertilizer application
ignoring the livestock manure. Within the boundaries of district, 122
soil sampling points determined over the satellite image. Soil samples
collected from the determined points with the help of handheld
Global Positioning System. Labeled samples were sent to a
commercial laboratory to determine 11 soil parameters including
salinity, pH, lime, organic matter, nitrogen, phosphorus, potassium,
iron, manganese, copper and zinc. Based on the test results soil maps
for mentioned parameters were developed using remote sensing, GIS,
and geostatistical analysis. In this study we developed a GIS database
that will be used for soil nutrient management. Methods were
explained and soil maps and their interpretations were summarized in
the study.
Abstract: Total Quality Management (TQM) is a managerial
approach that improves the competitiveness of the industry,
meanwhile Information technology (IT) was introduced with TQM
for handling the technical issues which is supported by quality
experts for fulfilling the customers’ requirement. Present paper aims
to utilise AHP (Analytic Hierarchy Process) methodology to
priorities and rank the hierarchy levels of TQM enablers and IT
resource together for its successful implementation in the Information
and Communication Technology (ICT) industry. A total of 17 TQM
enablers (nine) and IT resources (eight) were identified and
partitioned into 3 categories and were prioritised by AHP approach.
The finding indicates that the 17 sub-criteria can be grouped into
three main categories namely organizing, tools and techniques, and
culture and people. Further, out of 17 sub-criteria, three sub-criteria:
top management commitment and support, total employee
involvement, and continuous improvement got highest priority
whereas three sub-criteria such as structural equation modelling,
culture change, and customer satisfaction got lowest priority. The
result suggests a hierarchy model for ICT industry to prioritise the
enablers and resources as well as to improve the TQM and IT
performance in the ICT industry. This paper has some managerial
implication which suggests the managers of ICT industry to
implement TQM and IT together in their organizations to get
maximum benefits and how to utilize available resources. At the end,
conclusions, limitation, future scope of the study are presented.
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 aim of this exploratory research is to understand
further how organisations can evaluate their activities, which
generate knowledge creation, to meet changing stakeholder
expectations. A Scale of Knowledge (SoK) Framework is proposed
which links knowledge management and organisational activities to
changing stakeholder expectations. The framework was informed by
the knowledge management literature, as well as empirical work
conducted via a single case study of a multi-site hospital organisation
in Saudi Arabia. Eight in-depth semi-structured interviews were
conducted with managers from across the organisation regarding
current and future stakeholder expectations, organisational
strategy/activities and knowledge management. Data were analysed
using thematic analysis and a hierarchical value map technique to
identify activities that can produce further knowledge and
consequently impact on how stakeholder expectations are met.
The SoK Framework developed may be useful to practitioners as
an analytical aid to determine if current organisational activities
produce organisational knowledge which helps them meet
(increasingly higher levels of) stakeholder expectations. The
limitations of the research and avenues for future development of the
proposed framework are discussed.
Abstract: Quick adoption of e-business and emerging influence
of “Electronic Word of Mouth e-WOM” communication on guests
made leading hotel brands successful examples of electronic guest
relationship management. Main reasons behind such success are well
established procedures in collection, analysis and usage of highly
valuable data available on the Internet, generated through some form
of e-GRM programme. E-GRM is more than just a technology
solution. It’s a system which balance respective guest demands, hotel
technological capabilities and organizational culture of employees,
discharging the universal approach in guest relations “same for all”.
The purpose of this research derives from the necessity of
determining the importance of monitoring and applying e-WOM
communication as one of the methods used in managing guest
relations. This paper analyses and compares different hotelier’s
opinions on e-WOM communication.
Abstract: The past two decades, Thailand faced the natural
disasters, for instance, Gay typhoon in 1989, tsunami in 2004, and
huge flood in 2011. The disaster management in Thailand was
improved both structure and mechanism for cope with the natural
disaster since 2007. However, the natural disaster management in
Thailand has various problems, for examples, cooperation between
related an organizations have not unity, inadequate resources, the
natural disaster management of public sectors not proactive, people
has not awareness the risk of the natural disaster, and communities
did not participate in the natural disaster management.
Objective of this study is to find the methods for capacity building
in the natural disaster management of Thailand. The concept and
information about the capacity building and the natural disaster
management of Thailand were reviewed and analyzed by classifying
and organizing data. The result found that the methods for capacity
building in the natural disaster management of Thailand should be
consist of 1) link operation and information in the natural disaster
management between nation, province, local and community levels,
2) enhance competency and resources of public sectors which relate
to the natural disaster management, 3) establish proactive natural
disaster management both planning and implementation, 4)
decentralize the natural disaster management to local government
organizations, 5) construct public awareness in the natural disaster
management to community, 6) support Community Based Disaster
Risk Management (CBDRM) seriously, and 7) emphasis on
participation in the natural disaster management of all stakeholders.
Abstract: Indonesian higher education has experienced
significant changes over the last decade. In 1999, the government
published an overall strategy for decentralisation and enhancement of
local autonomy in many sectors, including (higher) education.
Indonesian higher education reforms have forced universities to
restructure their internal university governance to become more
entrepreneurial. These new types of internal university governance
are likely to affect the institutions’ leadership and management. This
paper discusses the approach and findings of a study on the
managerial leadership styles of deans in Indonesian universities. The
study aims to get a better understanding of styles exhibited by deans
manifested in their behaviours. Using the theories of reasoned action
and planned behaviour, in combination with the competing values
framework, a large-scale survey was conducted to gather information
on the deans’ behaviours, attitudes, subjective norms, and perceived
behavioural control. Based on the responses of a sample of 218
deans, the study identifies a number of leadership styles: the Master,
the Competitive Consultant, the Consensual Goal-Setter, the Focused
Team Captain, and the Informed Trust-Builder style. The study
demonstrates that attitudes are the primary determinant of the styles
that were found. Perceived behavioural control is a factor that
explains some managerial leadership styles. By understanding the
attitudes of deans in Indonesian universities, and their leadership
styles, universities can strengthen their management and governance,
and thus improve their effectiveness.
Abstract: The safety and health performances aspects of a building are the most challenging aspect of facility management. It requires a deep understanding by the building managers on the factors that contribute to health and safety performances. This study attempted to develop an explanatory architectural safety performance model for stratified low-cost housing in Malaysia. The proposed Building Safety and Health Performance (BSHP) model was tested empirically through a survey on 308 construction practitioners using partial least squares (PLS) and structural equation modelling (SEM) tool. Statistical analysis results supports the conclusion that architecture, building services, external environment, management approaches and maintenance management have positive influence on safety and health performance of stratified low-cost housing in Malaysia. The findings provide valuable insights for construction industry to introduce BSHP model in the future where the model could be used as a guideline for training purposes of managers and better planning and implementation of building management.
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.
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: In order to protect data privacy, image with sensitive or
private information needs to be encrypted before being outsourced to
the cloud. However, this causes difficulties in image retrieval and data
management. A secure image retrieval method based on orthogonal
decomposition is proposed in the paper. The image is divided into two
different components, for which encryption and feature extraction are
executed separately. As a result, cloud server can extract features from
an encrypted image directly and compare them with the features of the
queried images, so that the user can thus obtain the image. Different
from other methods, the proposed method has no special requirements
to encryption algorithms. Experimental results prove that the proposed
method can achieve better security and better retrieval precision.