Abstract: The construction industry has been demonstrating
increased growth and importance in Brazil’s national economic
development. This study aims to evaluate the financial performance
of the leading companies in the construction sector in Brazil in the
period from 2009 to 2012. An analysis is made of the capital
structure, liquidity, and profitability of the six largest companies in
the construction sector in Brazil: Brookfield, Cyrela, Gafisa, MRV,
PDG and Rossi. The results are then compared with standard industry
ratios. It was found that among the companies analyzed, MRV and
Cyrela showed the best relative performance in the period under
consideration.
Abstract: This exploratory study gives an overview of the
evolution of the main financial and performance indicators of the
Academic Spin-Off’s and High Growth Academic Spin-Off’s in year
3 and year 6 after its creation in the region of Catalonia in Spain. The
study compares and evaluates results of these different measures of
performance and the degree of success of these companies for each
University.
We found that the average Catalonian Academic Spin-Off is small
and have not achieved the sustainability stage at year 6. On the
contrary, a small group of High Growth Academic Spin-Off’s
exhibits robust performance with high profits in year 6. Our results
support the need to increase selectivity and support for these
companies especially near year 3, because are the ones that will bring
wealth and employment. University role as an investor has rigid
norms and habits that impede an efficient economic return from their
ASO investment.
Universities with high performance on sales and employment in
year 3 not always could sustain this growth in year 6 because their
ASO’s are not profitable. On the contrary, profitable ASO exhibit
superior performance in all measurement indicators in year 6. We
advocate the need of a balanced growth (with profits) as a way to
obtain subsequent continuous growth.
Abstract: Recently, the competition between websites becomes
intense. How to make users “adopt” their websites is an issue of urgent
importance for online communities companies. Social procedures
(such as social influence) can possibly explain how and why users’
technologies usage behaviors affect other people to use the
technologies. This study proposes two types of social influences on the
initial usage of Facebook Check In-friends and group members.
Besides, this study combines social influences theory and social
network theory to explore the factors influencing initial usage of
Facebook Check In. This study indicates that Facebook friends’
previous usage of Facebook Check In and Facebook group members’
previous usage of Facebook Check In will positively influence focal
actors’ Facebook Check In adoption intention, and network centrality
will moderate the relationships among Facebook friends’ previous
usage of Facebook Check In, Facebook group members’ previous
usage of Facebook Check In and focal actors’ Facebook Check In
adoption intention. The article concludes with contributions to
academic research and practice.
Abstract: This paper aims to investigate the influence of quality
of education and quality of research, provided by local educational
institutions, on the adoption of Information and Communication
Technology (ICT) in managing business operations for companies in
Saudi market. A model was developed and tested using data collected
from 138 Chief Executive Officers (CEOs) of foreign companies in
diverse business sectors. The data is analyzed and managed using
multivariate approaches through standard statistical packages. The
results showed that educational quality has little contribution to the
ICT adoption while research quality seems to play a more prominent
role. These results are analyzed in terms of business environment and
market constraints and further extended to the perceived effectiveness
of applied pedagogical approaches in schools and universities.
Abstract: This paper is focusing on the attitude of Georgian
consumers toward social media, influence of social media on
consumer buying behavior. The purpose of this paper is to explore
the usage of social media marketing for small business companies of
Georgia. The result of marketing research has revealed that social
webs are mostly used by Georgian consumers, but they have little
impact on the buying decision. The research method was exploratory
and descriptive. Conclusions summarize the research results and
offers insight to provide better understandings of consumers demand
and implementation of marketing strategy through social media in
Georgia.
Abstract: Now in some countries of the world the cellular
market is on the point of saturation, in others - positive dynamics of
development kept on. The reasons for it are also different, but there
are united by their general susceptibility to innovation changes, if
they are really innovative. If to take as an example the cellular market
of Kazakhstan it is defined by the low percent of smart phones at
consumers, the low population density, undercapacity of the 3G
channel, and absence of universal access to the LTE technology that
limits dynamical growth of this branch. These moments are
aggravated by failures of starting commercial projects by private
companies which prevent to be implemented and widely adopted to a
new product among consumers. The object of the research is possible
integration of wireless and program technologies at which
introduction the idea can regenerate in an innovation. The analysis of
existing projects in the market and the possible union of the
technologies through a prism of theoretical bases of innovative
activity shows that efficiency of the company by development and
introduction of innovations is possible only thanks to strict
observance of all terms and conditions of the innovative process
which main term is profit. Despite that fact that on a global scale the
innovativeness issue of companies is very popular, there are no
researches about possibility of innovative breaks in the field of
wireless access to the Internet in the cellular market of Kazakhstan.
Abstract: Knowledge is considered as an important asset which
can help organizations to create competitive advantage. The necessity
of taking care of these assets is more important in these days – in
days of turbulent changes in business environment. Knowledge could
facilitate adaption to constant changes. The aim of this paper is to
describe how the knowledge sharing can be supported in the
manufacturing companies. The methods of case studies and grounded
theory were used to present information gained by carrying out semistructured
interviews. Results show that knowledge sharing is
supported in very similar ways in respondent companies.
Abstract: Thin-walled elements with a matrix set on a base of
high-valuable Portland cement with dispersed reinforcement from
alkali-resistant glass fibres are used in a range of applications as
claddings of buildings and infrastructure constructions as well as
various architectural elements of residential buildings.
Even though their elementary thickness and therefore total weight
is quite low, architects and building companies demand on even
further decreasing of the bulk density of these fibre-cement elements
for the reason of loading elimination of connected superstructures
and easier assembling in demand conditions.
By the means of various kinds of light-weight aggregates it is
possible to achieve light-weighing of these composite elements.
From the range of possible fillers with different material properties
granulated expanded glass worked the best.
By the means of laboratory testing an effect of two fillers based on
expanded glass on the fibre reinforced cement composite was
verified.
Practical applicability was tested in the production of commonly
manufactured glass fibre reinforced concrete elements, such as
channels for electrical cable deposition, products for urban equipment
and especially various cladding elements.
Even though these are not structural elements, it is necessary to
evaluate also strength characteristics and resistance to environment
for their durability in certain applications.
Abstract: Offering a Product-Service System (PSS) is a
well-accepted strategy that companies may adopt to provide a set of
systemic solutions to customers. PSSs were initially provided in a
simple form but now take diversified and complex forms involving
multiple services, products and technologies. With the growing
interest in the PSS, frameworks for the PSS development have been
introduced by many researchers. However, most of the existing
frameworks fail to examine various relations existing in a complex
PSS. Since designing a complex PSS involves full integration of
multiple products and services, it is essential to identify not only
product-service relations but also product-product/ service-service
relations. It is also equally important to specify how they are related
for better understanding of the system. Moreover, as customers tend to
view their purchase from a more holistic perspective, a PSS should be
developed based on the whole system’s requirements, rather than
focusing only on the product requirements or service requirements.
Thus, we propose a framework to develop a complex PSS that is
coordinated fully with the requirements of both worlds. Specifically,
our approach adopts a multi-domain matrix (MDM). A MDM
identifies not only inter-domain relations but also intra-domain
relations so that it helps to design a PSS that includes highly desired
and closely related core functions/ features. Also, various dependency
types and rating schemes proposed in our approach would help the
integration process.
Abstract: One of the best examples, in evolution of the public
procurement, from post-soviet countries are reforms carried out in
Georgia, which brought them close to international standards of
procurement. In Georgia, public procurement legislation started
functioning short after gaining independence. The reform has passed
several stages and came in the form as it is today. It should also be
noted, that countries with economy in transition, including Georgia,
implemented all the reforms in public procurement based on
recommendations and support of World Bank, the United Nations
and other international organizations.
The aim of first adopted law was regulation of the procurement
process of budget-organizations, transparency and creation of
competitive environment for private companies to access state funds
legally. The priorities were identified quite clearly in the wording of
the law, but operation/function of this law could not be reached on its
level, because of some objective and subjective reasons. The high
level of corruption in all levels of governance can be considered as a
main obstacle reason and of course, it is natural, that it had direct
impact on the procurement process, as well as on transparency and
rational use of state funds. These circumstances were the reasons that
reforms in this sphere continued, to improve procurement process, in
particular, the first wave of reforms began after several years. Public
procurement agency carried out reform with World Bank with main
purpose of smartening the procurement legislation and its
harmonization with international treaties and agreements. Also with
the support of World Bank various activities were carried out to raise
awareness of participants involved in procurement system.
Further major changes in the legislation were filed bit later, which
was also directed towards the improvement and smarten of the
procurement process. The third wave of the reform more or less
guaranteed the transparency of the procurement process, which later
became the basis for the rational spending of state funds. The reform
of the procurement system completely changed the procedures.
Carried out reform in Georgia resulted in introducing new
electronic tendering system, which benefit the transparency of the
process, after this became the basis for the further development of a
competitive environment, which become a prerequisite for the state
rational spending. Increased number of supplier organizations
participating in the procurement process resulted in reduction of the
estimated cost and the actual cost.
Assessment of the reforms in Georgia in the field of public
procurement can be concluded, that proper regulation of the sector
and relevant policy may proceed to rational and transparent spending
of the budget from country’s state institutions. Also, the business
sector has the opportunity to work in competitive market conditions
and to make a preliminary analysis, which is a prerequisite for future
strategy and development.
Abstract: MSMEs are regarded as the sunrise sector of the
Indian economy in view of its large potential for growth and likely
socio economic impact specifically on employment and income
generation. In today’s competitive business environment, global
competition forces companies to continuously seek ways of
improving their products and services. The pressure on organizations
to adapt to new technologies and external threats requires
resourcefulness, creativity and innovation. Market has become more
open, competitive and customers more demanding. Without
continuous technology innovation, no organization can ever remain
competitive. Innovations reflect a critical way in which organizations
respond to either technological or market challenges. The need of the
market is to deliver high quality products through continuous
changing in features in product, improve existing products, reduce
their cost, and improve employee skills, training, technology
infrastructure and financial policies. Therefore, the key factor of
organization’s ability to change is innovation. The study presents a
detailed review of literature on the role of technology innovation in
improving manufacturing performance of industries.
Abstract: A well designed and executed Production Planning
and Control (PPC) system is one of the key levers for superior
performance in the current manufacturing set-up. Hence, measuring
the PPC system performance has become a necessity for long term
success. The present study examined PPC related issues which
impact the production capacity and productivity of leather companies
with special focus on Kombolcha Tannery Share Company (KTSC),
Ethiopia. Physical observation, interview, and questionnaire were
used to generate necessary information from the respondents and
reach valid conclusions. Company annual reports were referred and
analyzed to triangulate primary data. Consequently, the study
revealed that KTSC runs below its capacity due to its inefficient PPC
system being in use for which the root causes were identified. The
study thereby conceptualizes a PPC system improvement framework
comprising three pillars viz., management culture, internal capability
and performance measurement together with key considerations in
each case. The study findings enable the company to recognize the
importance of efficient PPC system as a source of competitive
advantage. It also aid managers in evaluating various PPC execution
schemes to enhance productivity.
Abstract: Presently, it is necessary to ensure the sustainable
development of passenger and freight transport. Increasing
performance of road freight has had a negative impact to environment
and society. It is therefore necessary to increase the competitiveness
of intermodal transport, which is more environmentally friendly. The
study describes the effectiveness of logistical centers realization for
companies and society and research how the partial internalization of
external costs reflected in the efficient use of these centers and
increase the competitiveness of intermodal transport to road freight.
In our research, we use the method of comparative analysis and
market research to describe the advantages of logistic centers for their
users as well as for society as a whole. Method normal costing is used
for calculation infrastructure and total costs, method of conversion
costing for determine the external costs. We modelled total society
costs for road freight transport and inter modal transport chain (we
assumed that most of the traffic is carried by rail) with different
loading schemes for condition in the Slovak Republic. Our research
has shown that higher utilization of inter modal transport chain do
good not only for society, but for companies providing freight
services too. Increase in use of inter modal transport chain can bring
many benefits to society that do not bring direct immediate financial
return. They often bring the multiplier effects, such as greater use of
environmentally friendly transport mode and reduce the total society
costs.
Abstract: Over the past few years, the online multimedia
collection has grown at a fast pace. Several companies showed
interest to study the different ways to organise the amount of audio
information without the need of human intervention to generate
metadata. In the past few years, many applications have emerged on
the market which are capable of identifying a piece of music in a
short time. Different audio effects and degradation make it much
harder to identify the unknown piece. In this paper, an audio
fingerprinting system which makes use of a non-parametric based
algorithm is presented. Parametric analysis is also performed using
Gaussian Mixture Models (GMMs). The feature extraction methods
employed are the Mel Spectrum Coefficients and the MPEG-7 basic
descriptors. Bin numbers replaced the extracted feature coefficients
during the non-parametric modelling. The results show that nonparametric
analysis offer potential results as the ones mentioned in
the literature.
Abstract: Internet financial reporting and corporate governance
issues are in the focus of academic and professional studies due to
their attributed importance by stakeholders of corporations. Major
aim of this study is to reveal the relationship between internet
financial reporting which is held as dependent variable and some
indicators of corporate governance such as the ratio of managerial
ownership, blockholder ownership, number of independent members
in the board of directors, frequency of meetings by audit committee
and education level of audit committee members which are held as
independent variables. Main purpose is to reveal the effect of
corporate governance on the voluntary efforts of Internet Financial
reporting. The scope of the research is limited to the Turkish
Corporations listed in Borsa Istanbul (Istanbul Stock Exchange) and
findings which are generated by means of SPSS software are revealed
in results section and interpreted in conclusions.
Abstract: The impact of Special Economic Zones (SEZs) has
been analyzed for many years by researchers. There are lot of
theoretical studies proving the SEZs importance for regional
development, however, there is lack of empirical studies (and they
are mainly focused on China market) that are based on available data.
The theoretical studies indicate the various impacts of enterprises
operating within SEZs on the economy. The article proves that, in
case of Poland, locating SEZs in municipalities is an important part
of increasing municipalities’ income. Therefore SEZs have a positive
impact on regional development. Municipality income is understood
as taxes paid by taxpayers who depend on SEZ companies’
performance. The analysis includes the Corporate Income Tax (CIT),
Personal Income Tax (PIT) and real estate tax. The effects of SEZs
on regional development were narrowed to a few variables that are
most significant for the financial system. The analysis indicates the
significant impact of SEZs on the amount of taxes influencing the
municipality budget.
Abstract: Absorptive capacity generally facilitates the adoption
of innovation. How does this relationship change when economic
return is not the sole driver of innovation uptake? We investigate
whether absorptive capacity facilitates the adoption of green
innovation based on a survey of 79 construction companies in
Scotland. Based on the results of multiple regression analyses, we
confirm that existing knowledge utilisation (EKU), knowledge
building (KB) and external knowledge acquisition (EKA) are
significant predictors of green process GP), green administrative
(GA) and green technical innovation (GT), respectively. We discuss
the implications for theories of innovation adoption and knowledge
enhancement associated with environmentally-friendly practices.
Abstract: Living today in turbulent business environment forces
companies to distinguish from each other, securing sustainable
competitive growth and competitive advantage. The best possible
solution is to invest (effort and financial resources) within
companies’ different practices of human resource management
(HRM), more specifically in employees’ knowledge, skills and
abilities. Applying this approach companies will create enviable level
of human capital securing its economic growth. Employees become
human capital for their employers at the moment when they
contribute with their own knowledge and abilities in creating material
and non-material value of the company. The main aim of this
research is to explore the relations between human capital
investments and business excellence of Croatian companies.
Furthermore, the differences in the level of human capital
investments with regard to several companies’ characteristics (e.g.
size of the company, ownership and type of the industry) are
investigated.
Abstract: A knowledge-based expert system with the acronym
RASPE is developed as an application tool to help decision makers in
construction companies make informed decisions about managing
risks in pipeline construction projects. Choosing to use expert
systems from all available artificial intelligence techniques is due to
the fact that an expert system is more suited to representing a
domain’s knowledge and the reasoning behind domain-specific
decisions. The knowledge-based expert system can capture the
knowledge in the form of conditional rules which represent various
project scenarios and potential risk mitigation/response actions. The
built knowledge in RASPE is utilized through the underlying
inference engine that allows the firing of rules relevant to a project
scenario into consideration. Paper provides an overview of the
knowledge acquisition process and goes about describing the
knowledge structure which is divided up into four major modules.
The paper shows one module in full detail for illustration purposes
and concludes with insightful remarks.
Abstract: Managing and improving efficiency in the current
highly competitive global automotive industry demands that those
companies adopt leaner and more flexible systems. During the past
20 years the domestic automotive industry in North America has been
focusing on establishing new management strategies in order to meet
market demands. The lean management process also known as
Toyota Manufacturing Process (TPS) or lean manufacturing
encompasses tools and techniques that were established in order to
provide the best quality product with the fastest lead time at the
lowest cost. The following paper presents a study that focused on
improving labor efficiency at one of the Big Three (Ford, GM,
Chrysler LLC) domestic automotive facility in North America. The
objective of the study was to utilize several lean management tools in
order to optimize the efficiency and utilization levels at the “Pre-
Marriage” chassis area in a truck manufacturing and assembly
facility. Utilizing three different lean tools (i.e. Standardization of
work, 7 Wastes, and 5S) this research was able to improve efficiency
by 51%, utilization by 246%, and reduce operations by 14%. The
return on investment calculated based on the improvements made
was 284%.