Abstract: In rapidly changing market environment, firms are investing a lot of time and resources into new product development (NPD) projects to make profit and to obtain competitive advantage. However, failure rate of NPD projects is becoming high due to various internal and external risks which hinder successful NPD projects. To reduce the failure rate, it is critical that risks have to be managed effectively and efficiently through good strategy, and treated by optimal responses to minimize risk cost. Four strategies are adopted to handle the risks in this study. The optimal responses are characterized by high reduction of risk costs with high efficiency. This study suggests a framework to decide the optimal responses considering the core risks, risk costs, response efficiency and response costs for successful NPD projects. Both binary particles warm optimization (BPSO) and multi-objective particle swarm optimization (MOPSO) methods are mainly used in the framework. Although several limitations exist in use for real industries, the frame work shows good strength for handling the risks with highly scientific ways through an example.
Abstract: This paper aims to (1) analyze the profiles of
transgressors (detected evaders); (2) examine reason(s) that triggered a
tax audit, causes of tax evasion, audit timeframe and tax penalty
charged; and (3) to assess if tax auditors followed the guidelines as
stated in the 'Tax Audit Framework' when conducting tax audits. In
2011, the Inland Revenue Board Malaysia (IRBM) had audited and
finalized 557 company cases. With official permission, data of all the
557 cases were obtained from the IRBM. Of these, a total of 421 cases
with complete information were analyzed. About 58.1% was small and
medium corporations and from the construction industry (32.8%). The
selection for tax audit was based on risk analysis (66.8%), information
from third party (11.1%), and firm with low profitability or fluctuating
profit pattern (7.8%). The three persistent causes of tax evasion by
firms were over claimed expenses (46.8%), fraudulent reporting of
income (38.5%) and overstating purchases (10.5%). These findings
are consistent with past literature. Results showed that tax auditors
took six to 18 months to close audit cases. More than half of tax
evaders were fined 45% on additional tax raised during audit for the
first offence. The study found tax auditors did follow the guidelines in
the 'Tax Audit Framework' in audit selection, settlement and penalty
imposition.
Abstract: In Algeria, liberalization reforms undertaken since the 1990s have resulted in negative effects on the development and management of irrigation schemes, as well as on the conditions of farmers. Reforms have been undertaken to improve the performance of irrigation schemes, such as the national plan of agricultural development (PNDA) in 2000 and the water pricing policy of 2005. However, after implementation of these policies, questions have arisen with regard to irrigation performance and its suitability for agricultural development. Hence, the aim of this paper is to provide insight into the profitability of irrigation during the transition period under current irrigation agricultural policies in Algeria. By using the method of farm crop budget analysis in the East Mitidja irrigation scheme, the returns from using surface water resources based on farm typology were found to vary among crops and farmers- groups within the scheme. Irrigation under the current situation is profitable for all farmers, including both those who benefit from subsidies and those who do not. However, the returns to water were found to be very sensitive to crop price fluctuations, particularly for non-subsidized groups and less so for those whose farming is based on orchards. Moreover, the socio-economic environment of the farmers contributed to less significant impacts of the PNDA policy. In fact, the limiting factor is not only the water, but also the lack of land ownership title. Market access constraints led to less agricultural investment and therefore to low intensification and low water productivity. It is financially feasible to recover the annual O&M costs in the irrigation scheme. By comparing the irrigation water price, returns to water, and O&M costs of water delivery, it is clear that irrigation can be profitable in the future. However, water productivity must be improved by enhancing farmers- income through farming investment, improving assets access, and the allocation of activities and crops which bring high returns to water; this could allow the farmers to pay more for water and allow cost recovery for water systems.
Abstract: The review performed on the condition of energy
consumption & rate in Iran, shows that unfortunately the subject of
optimization and conservation of energy in active industries of
country lacks a practical & effective method and in most factories,
the energy consumption and rate is more than in similar industries of
industrial countries. The increasing demand of electrical energy and
the overheads which it imposes on the organization, forces
companies to search for suitable approaches to optimize energy
consumption and demand management. Application of value
engineering techniques is among these approaches. Value
engineering is considered a powerful tool for improving profitability.
These tools are used for reduction of expenses, increasing profits,
quality improvement, increasing market share, performing works in
shorter durations, more efficient utilization of sources & etc.
In this article, we shall review the subject of value engineering and
its capabilities for creating effective transformations in industrial
organizations, in order to reduce energy costs & the results have
been investigated and described during a case study in Mazandaran
wood and paper industries, the biggest consumer of energy in north
of Iran, for the purpose of presenting the effects of performed tasks
in optimization of energy consumption by utilizing value engineering
techniques in one case study.
Abstract: This study examines the impact of working capital
management on firms- performance and market value of the firms in
Nigeria. A sample of fifty four non-financial quoted firms in Nigeria
listed on the Nigeria Stock Exchange was used for this study. Data
were collected from annual reports of the sampled firms for the
period 1995-2009. This result shows there is a significant negative
relationship between cash conversion cycle and market valuation
and firm-s performance. It also shows that debt ratio is positively
related to market valuation and negatively related firm-s
performance. The findings confirm that there is a significant
relationship between Market valuation, profitability and working
capital component in line with previous studies. This mean that
Nigeria firms should ensure adequate management of working
capital especially cash conversion cycle components of account
receivables, account payables and inventories, as efficiency working
capital management is expected to contribute positively to the firms-
market value.
Abstract: In this paper variation of spot price and total profits of
the generating companies- through wholesale electricity trading are
discussed with and without Central Generating Stations (CGS) share
and seasonal variations are also considered. It demonstrates how
proper analysis of generators- efficiencies and capabilities, types of
generators owned, fuel costs, transmission losses and settling price
variation using the solutions of Optimal Power Flow (OPF), can
allow companies to maximize overall revenue. It illustrates how
solutions of OPF can be used to maximize companies- revenue under
different scenarios. And is also extended to computation of Available
Transfer Capability (ATC) is very important to the transmission
system security and market forecasting. From these results it is
observed that how crucial it is for companies to plan their daily
operations and is certainly useful in an online environment of
deregulated power system. In this paper above tasks are demonstrated
on 124 bus real-life Indian utility power system of Andhra Pradesh
State Grid and results have been presented and analyzed.
Abstract: Due to today-s fierce competition, companies have to
be proactive creators of the future by effectively developing
innovations. Especially radical innovations allow high profit margins
– but they also entail high risks. One possibility to realize radical
innovations and reduce the risk of failure is cross-industry innovation
(CII). CII brings together problems and solution ideas from different
industries. However, there is a lack of systematic ways towards CII.
Bridging this gap, the present paper provides a systematic approach
towards planned CII. Starting with the analysis of potentials, the
definition of promising search strategies is crucial. Subsequently,
identified solution ideas need to be assessed. For the most promising
ones, the adaption process has to be systematically planned –
regarding the risk affinity of a company. The introduced method is
explained on a project from the furniture industry.
Abstract: A ten-year grazing study was conducted at the
Agriculture and Agri-Food Canada Brandon Research Centre in
Manitoba to study the effect of alfalfa inclusion and fertilizer (N, P,
K, and S) addition on economics and efficiency of non-renewable
energy use in meadow brome grass-based pasture systems for beef
production. Fertilizing grass-only or alfalfa-grass pastures to full soil
test recommendations improved pasture productivity, but did not
improve profitability compared to unfertilized pastures. Fertilizing
grass-only pastures resulted in the highest net loss of any pasture
management strategy in this study. Adding alfalfa at the time of
seeding, with no added fertilizer, was economically the best pasture
improvement strategy in this study. Because of moisture limitations,
adding commercial fertilizer to full soil test recommendations is
probably not economically justifiable in most years, especially with
the rising cost of fertilizer. Improving grass-only pastures by adding
fertilizer and/or alfalfa required additional non-renewable energy
inputs; however, the additional energy required for unfertilized
alfalfa-grass pastures was minimal compared to the fertilized
pastures. Of the four pasture management strategies, adding alfalfa
to grass pastures without adding fertilizer had the highest efficiency
of energy use. Based on energy use and economic performance, the
unfertilized alfalfa-grass pasture was the most efficient and
sustainable pasture system.
Abstract: In this article the accumulated results out of the effects
and length of the manufacture and production projects in the
university and research standard have been settled with the usefulness
definition of the process of project management for the accessibility
to the proportional pattern in the “time and action" stages. Studies
show that many problems confronted by the researchers in these
projects are connected to the non-profiting of: 1) autonomous timing
for gathering the educational theme, 2) autonomous timing for
planning and pattern, presenting before the construction, and 3)
autonomous timing for manufacture and sample presentation from the
output. The result of this study indicates the division of every
manufacture and production projects into three smaller autonomous
projects from its kind, budget and autonomous expenditure, shape
and order of the stages for the management of these kinds of projects.
In this case study real result are compared with theoretical results.
Abstract: The purpose of study is to demonstrate how the characteristics of technology and the process required for development of technology affect technology transfer from public organisations to industry on the technology level. In addition, using the advantage of the analytic level and the novel means of measuring technology convergence, we examine the characteristics of converging technologies as compared to non-converging technologies in technology transfer process. In sum, our study finds that a technology from the public sector is likely to be transferred when its readiness level is closer to generation of profit, when its stage of life cycle is early and when its economic values is high. Our findings also show that converging technologies are less likely to be transferred.
Abstract: Islamic banking is one the most blossoming doctrine in
economic system of the world. The Fast growing awareness about
Islamic financial system has brought strong feeling to Muslims to
confront the western interest-based economic cycle. The Islamic
economic system is emerging as a reliable alternative to the interest
based system. This study is proposed to ascertain the motivational
factors encouraging people to go for Islamic banking in Pakistan.
These pulsing factors are determined by generation of hypothesis that
there are certain factors which are urging people to opt Islamic
banking system and to see the differences in their ranking by applying
Friedman test. These factors include: Economically derived factors
such as stability of Islamic banks in crisis, profit and loss sharing
doctrine and equity sharing etc. This study also highlights the
religiously derived factors such as interest free banking, Shariah
tenets and supervisory of Islamic Shariah board and sociopsychological
factors.
Abstract: Considering today-s increasing speed of change,
radical and innovative improvement - Kaikaku, is a necessity parallel
to continuous incremental improvement - Kaizen, especially for
SME-s in order to attain the competitive edge needed to be profitable.
During 2011, a qualitative single case study with the objective of
realizing a kaikaku in production has been conducted. The case study
was run as a one year project using a collaborative approach
including both researchers and company representatives. The case
study was conducted with the purpose of gaining further knowledge
about kaikaku realization as well as its implications. The empirical
results provide insights about the great productivity results achieved
by applying a specific kaikaku realization approach. However, it also
sheds light on the difficulty and contradiction of combining
innovation management and production system development.
Abstract: Using activity theory, organisational theory and
didactics as theoretical foundations, a comprehensive model of the
organisational dimensions relevant for learning and knowledge
transfer will be developed. In a second step, a Learning Assessment
Guideline will be elaborated. This guideline will be designed to
permit a targeted analysis of organisations to identify the status quo
in those areas crucial to the implementation of learning and
knowledge transfer. In addition, this self-analysis tool will enable
learning managers to select adequate didactic models for e- and
blended learning. As part of the European Integrated Project
"Process-oriented Learning and Information Exchange" (PROLIX),
this model of organisational prerequisites for learning and knowledge
transfer will be empirically tested in four profit and non-profit
organisations in Great Britain, Germany and France (to be finalized
in autumn 2006). The findings concern not only the capability of the
model of organisational dimensions, but also the predominant
perceptions of and obstacles to learning in organisations.
Abstract: A road pricing game is a game where various stakeholders and/or regions with different (and usually conflicting) objectives compete for toll setting in a given transportation network to satisfy their individual objectives. We investigate some classical game theoretical solution concepts for the road pricing game. We establish results for the road pricing game so that stakeholders and/or regions playing such a game will beforehand know what is obtainable. This will save time and argument, and above all, get rid of the feelings of unfairness among the competing actors and road users. Among the classical solution concepts we investigate is Nash equilibrium. In particular, we show that no pure Nash equilibrium exists among the actors, and further illustrate that even “mixed Nash equilibrium" may not be achievable in the road pricing game. The paper also demonstrates the type of coalitions that are not only reachable, but also stable and profitable for the actors involved.
Abstract: Most of the existing text mining approaches are
proposed, keeping in mind, transaction databases model. Thus, the
mined dataset is structured using just one concept: the “transaction",
whereas the whole dataset is modeled using the “set" abstract type. In
such cases, the structure of the whole dataset and the relationships
among the transactions themselves are not modeled and
consequently, not considered in the mining process.
We believe that taking into account structure properties of
hierarchically structured information (e.g. textual document, etc ...)
in the mining process, can leads to best results. For this purpose, an
hierarchical associations rule mining approach for textual documents
is proposed in this paper and the classical set-oriented mining
approach is reconsidered profits to a Direct Acyclic Graph (DAG)
oriented approach. Natural languages processing techniques are used
in order to obtain the DAG structure. Based on this graph model, an
hierarchical bottom up algorithm is proposed. The main idea is that
each node is mined with its parent node.
Abstract: In this paper, an inventory model with finite and
constant replenishment rate, price dependant demand rate, time
value of money and inflation, finite time horizon, lead time and
exponential deterioration rate and with the objective of maximizing
the present worth of the total system profit is developed. Using a
dynamic programming based solution algorithm, the optimal
sequence of the cycles can be found and also different optimal
selling prices, optimal order quantities and optimal maximum
inventories can be obtained for the cycles with unequal lengths,
which have never been done before for this model. Also, a
numerical example is used to show accuracy of the solution
procedure.
Abstract: Fast development of technologies, economic globalization and many other external circumstances stimulate company’s competitiveness. One of the major trends in today’s business is the shift to the exploitation of the Internet and electronic environment for entrepreneurial needs. Latest researches confirm that e-environment provides a range of possibilities and opportunities for companies, especially for micro-, small- and medium-sized companies, which have limited resources. The usage of e-tools raises the effectiveness and the profitability of an organization, as well as its competitiveness.
In the electronic market, as in the classic one, there are factors, such as globalization, development of new technology, price sensitive consumers, Internet, new distribution and communication channels that influence entrepreneurship. As a result of eenvironment development, e-commerce and e-marketing grow as well.
Objective of the paper: To describe and identify factors influencing company’s competitiveness in e-environment.
Research methodology: The authors employ well-established quantitative and qualitative methods of research: grouping, analysis, statistics method, factor analysis in SPSS 20 environment, etc. The theoretical and methodological background of the research is formed by using scientific researches and publications, such as that from mass media and professional literature; statistical information from legal institutions as well as information collected by the authors during the surveying process.
Research result: The authors detected and classified factors influencing competitiveness in e-environment.
In this paper, the authors presented their findings based on theoretical, scientific, and field research. Authors have conducted a research on e-environment utilization among Latvian enterprises.
Abstract: Inventory decisional environment of short life-cycle
products is full of uncertainties arising from randomness and
fuzziness of input parameters like customer demand requiring
modeling under hybrid uncertainty. Prior inventory models
incorporating fuzzy demand have unfortunately ignored stochastic
variation of demand. This paper determines an unambiguous optimal
order quantity from a set of n fuzzy observations in a newsvendor
inventory setting in presence of fuzzy random variable demand
capturing both fuzzy perception and randomness of customer
demand. The stress of this paper is in providing solution procedure
that attains optimality in two steps with demand information
availability in linguistic phrases leading to fuzziness along with
stochastic variation. The first step of solution procedure identifies
and prefers one best fuzzy opinion out of all expert opinions and the
second step determines optimal order quantity from the selected
event that maximizes profit. The model and solution procedure is
illustrated with a numerical example.
Abstract: Today the social marketing was constituted as a tool
of significant value in what he refers to the promotion of changes of
behaviors, attitudes end practices. With the objective of analyzing the
benefits that the social marketing can bring for the organizations that
use it the research was of the exploratory and descriptive. In the
present study the comparative method was used, through a qualitative
approach, to analyze the activities developed by three institutions:
the Recovery Center Rosa de Saron, the House of Recovery for
addicts and Teen Challenge Institute Children's Cancer of the
Wasteland (ICIA), kindred of pointing out the benefits of the social
marketing in organizations that don-t seek the profit.
Abstract: Information is a critical asset and an important source for gaining competitive advantage in firms. The effective maintenance of IT becomes an important task. In order to better understand the determinants of IT effectiveness, this study employs the Industrial Organization (I/O) and Resource Based View (RBV) theories and investigates the industry effect and several major firmspecific factors in relation to their impact on firms- IT effectiveness. The data consist of a panel data of ten-year observations of firms whose IT excellence had been recognized by the CIO Magazine. The non-profit organizations were deliberately excluded, as explained later. The results showed that the effectiveness of IT management varied significantly across industries. Industry also moderated the effects of firm demographic factors such as size and age on IT effectiveness. Surprisingly, R & D investment intensity had negative correlation to IT effectiveness. For managers and practitioners, this study offers some insights for evaluation criteria and expectation for IT project success. Finally, the empirical results indicate that the sustainability of IT effectiveness appears to be short in duration.