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: The objective of countercyclical capital buffer is to
encourage banks to build up buffers in good times that can be drawn
down in bad times. The aim of the report is to assess such decisions
by banks derived from three approaches. The approaches are the
aggregate credit-to-GDP ratio, credit growth as well as banking
sector profits. The approaches are implemented for Estonia, Latvia
and Lithuania for the time period 2000-2012. The report compares
three approaches and analyses their relevance to the Baltic States by
testing the correlation between a growth in studied variables and a
growth of corresponding gaps. Methods used in the empirical part of
the report are econometric analysis as well as economic analysis,
development indicators, relative and absolute indicators and other
methods. The research outcome is a cross-Baltic comparison of two
alternative approaches to establish or release a countercyclical capital
buffer by banks and their implications for each Baltic country.
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: Game theory is the study of how people interact and
make decisions to handle competitive situations. It has mainly been
developed to study decision making in complex situations. Humans
routinely alter their behaviour in response to changes in their social
and physical environment. As a consequence, the outcomes of
decisions that depend on the behaviour of multiple decision makers
are difficult to predict and require highly adaptive decision-making
strategies. In addition to the decision makers may have preferences
regarding consequences to other individuals and choose their actions
to improve or reduce the well-being of others. Nash equilibrium is a
fundamental concept in the theory of games and the most widely used
method of predicting the outcome of a strategic interaction in the
social sciences. A Nash Equilibrium exists when there is no unilateral
profitable deviation from any of the players involved. On the other
hand, no player in the game would take a different action as long as
every other player remains the same.
Abstract: Since “Hello Kitty” was manufactured in the market in
1974, the manufacturer, Sanrio Co., Ltd. gains high profits not only
Kitty’s products but also Kitty license, which gives us a picture of
Sanrio’s sales strategy in the global market. Kitty’s history, its
products, and Sanrio’s sales strategy are researched in this paper.
Comparing it to American Girl, and focusing on KITTYLAB, a type of
attraction where you can enjoy games with Kitty, and choose its parts
to build your own Kitty, the image of the cultural icon can be altered.
Abstract: Factors affecting construction unit cost vary
depending on a country’s political, economic, social and
technological inclinations. Factors affecting construction costs have
been studied from various perspectives. Analysis of cost factors
requires an appreciation of a country’s practices. Identified cost
factors provide an indication of a country’s construction economic
strata. The purpose of this paper is to identify the essential factors
that affect unit cost estimation and their breakdown using artificial
neural networks. Twenty five (25) identified cost factors in road
construction were subjected to a questionnaire survey and employing
SPSS factor analysis the factors were reduced to eight. The 8 factors
were analysed using neural network (NN) to determine the
proportionate breakdown of the cost factors in a given construction
unit rate. NN predicted that political environment accounted 44% of
the unit rate followed by contractor capacity at 22% and financial
delays, project feasibility and overhead & profit each at 11%. Project
location, material availability and corruption perception index had
minimal impact on the unit cost from the training data provided.
Quantified cost factors can be incorporated in unit cost estimation
models (UCEM) to produce more accurate estimates. This can create
improvements in the cost estimation of infrastructure projects and
establish a benchmark standard to assist the process of alignment of
work practises and training of new staff, permitting the on-going
development of best practises in cost estimation to become more
effective.
Abstract: e-Service has moved from the usual manual and
traditional way of rendering services to electronic service provision
for the public and there are several reasons for implementing these
services, Airline ticketing have gone from its manual traditional way
to an intelligent web-driven service of purchasing. Many companies
have seen their profits doubled through the use of online services in
their operation and a typical example is Hewlett Packard (HP) which
is rapidly transforming their after sales business into a profit
generating e-service business unit.
This paper will examine the various challenges confronting e-
Service adoption and implementation in Nigeria and also analyse
lessons learnt from e-Service adoption and implementation in Asia to
see how it could be useful in Nigeria which is a lower middle income
country. From the analysis of the online survey data, it has been
identified that the public in Nigeria are much aware of e-Services but
successful adoption and implementation have been the problems
faced.
Abstract: In this paper a comprehensive review on various
factory layouts has been carried out for designing a lucrative process
layout for medium scale industries. Industry data base reveals that the
end product rejection rate is on the order of 10% amounting large
profit loss. In order to avoid these rejection rates and to increase the
quality product production an intermediate non-destructive testing
facility (INDTF) has been recommended for increasing the overall
profit. We observed through detailed case studies that while
introducing INDTF to medium scale industries the expensive
production process can be avoided to the defective products well
before its final shape. Additionally, the defective products identified
during the intermediate stage can be effectively utilized for other
applications or recycling; thereby the overall wastage of the raw
materials can be reduced and profit can be increased. We concluded
that the prudent design of a factory layout through critical path
method facilitating with INDTF will warrant profitable outcome.
Abstract: A cleaner production project was implemented in a
bakery. The project is based on the substitution of the best available
technique for an obsolete leaven production technology. The new
technology enables production of durable, high-quality leavens.
Moreover, 25% of flour as the original raw material can be replaced
by pastry from the previous day production which has not been sold.
That pastry was previously disposed in a waste incineration plant.
Besides the environmental benefits resulting from less waste, lower
consumption of energy, reduction of sewage waters quantity and
floury dustiness there are also significant economic benefits. Payback
period of investment was calculated with help of static method of
financial analysis about 2.6 years, using dynamic method 3.5 years
and an internal rate of return more than 29%. The supposed annual
average profit after taxationin the second year of operation was
incompliance with the real profit.
Abstract: Cloud service brokering is a new service paradigm that
provides interoperability and portability of application across multiple
Cloud providers. In this paper, we designed Cloud service brokerage
system, anyBroker, supporting integrated service provisioning and
SLA based service lifecycle management. For the system design, we
introduce the system concept and whole architecture, details of main
components and use cases of primary operations in the system. These
features ease the Cloud service provider and customer’s concern and
support new Cloud service open market to increase Cloud service
profit and prompt Cloud service echo system in Cloud computing
related area.
Abstract: The objectives of this study is to investigate the
existence of the sticky cost behavior of firms listed in the Indonesia
Stock Exchange (IDX) and to find evidence on the effects of sticky
operating expenses (SG&A expenses) on profitability of firms. For
the first objective, this study finds that the sticky cost behavior does
exist. For the second objective, this study finds that the stickier the
operating expenses the lesser future profitability of the firms. This
study concludes that sticky cost affects negatively to the performance
and, therefore, firms should include flexibility in designing the cost
structure of their firms.
Abstract: The organizations of European and Czech critical
infrastructure have specific position, mission, characteristics and
behaviour in European Union and Czech state/business environments,
regarding specific requirements for regional and global security
environments. They must respect policy of national security and
global rules, requirements and standards in all their inherent and
outer processes of supply - customer chains and networks. A
controlling is generalized capability to have control over situational
policy. This paper aims and purposes are to introduce the controlling
as quite new necessary process attribute providing for critical
infrastructure is environment the capability and profit to achieve its
commitment regarding to the effectiveness of the quality
management system in meeting customer/ user requirements and also
the continual improvement of critical infrastructure organization’s
processes overall performance and efficiency, as well as its societal
security via continual planning improvement via DYVELOP
modelling.
Abstract: In Capitalism all economic activity rests upon a set of
core institutional foundations, main from which are privately owned
capital assets and profit. How these core institutional foundations are
working in former soviet countries, in particular in Travel and
Tourism Industry of Georgia?
The role of Travel and Tourism as a key pillar of economic growth
is being increasingly recognized by governments in all regions of the
world. For the last few years Georgia succeeded in the World Bank
and IFC “Doing Business” rankings. Despite of that, during decades
totally different statistical data of the tourism sector were provided by
the different State bodies; economic parameters were published few,
or not published at all.
The frequency and extent of property rights violation in Georgia
has repeatedly been the subject of concern for the last decade. Total
value of abrogated by the former Georgian Government private
property is estimated approximately in US$4-5 billion.
Thus, if economic profitability is unknown and property rights are
not protected – that means that the main institutional foundations of
capitalism in Georgia, are not working properly yet, that cause
management problems at all levels of the national Travel and
Tourism industry of Georgia.
Abstract: This work proposes a fuzzy methodology to support
the investment decisions. While choosing among competitive
investment projects, the methodology makes ranking of projects
using the new aggregation OWA operator – AsPOWA, presented in
the environment of possibility uncertainty. For numerical evaluation
of the weighting vector associated with the AsPOWA operator the
mathematical programming problem is constructed. On the basis of
the AsPOWA operator the projects’ group ranking maximum criteria
is constructed. The methodology also allows making the most
profitable investments into several of the project using the method
developed by the authors for discrete possibilistic bicriteria problems.
The article provides an example of the investment decision-making
that explains the work of the proposed methodology.
Abstract: Paper deals with analysis of strategic management
methods in non-profit making organization in the Czech Republic.
Strategic management represents an aggregate of methods and
approaches that can be applied for managing organizations - in this
article the organizations which associate owners and keepers of nonstate
forest properties. Authors use these methods of strategic
management: analysis of stakeholders, SWOT analysis and
questionnaire inquiries. The questionnaire was distributed
electronically via e-mail. In October 2013 we obtained data from a
total of 84 questionnaires. Based on the results the authors
recommend the using of confrontation strategy which improves the
competitiveness of non-profit making organizations.
Abstract: The objectives of this research were to study the
influencing factors that contributed to the success of e-collaborative
in e-commerce of B2C (Business to Customer) business in Bangkok,
Thailand. The influencing factors included organization, people,
information technology and the process of e-collaborative. A
questionnaire was used to collect data from 200 small e-commerce
businesses and the path analysis was utilized as the tool for data
analysis.
By using the path analysis, it was revealed that the factors
concerning with organization, people and information technology
played an influence on e-collaborative process and the success of ecollaborative,
whereas the process of e-collaborative factor
manipulated its success. The findings suggested that B2C ecommerce
business in Thailand should opt in improvement approach
in terms of managerial structure, leaderships, staff’s skills and
knowledge, and investment of information technology in order to
capacitate higher efficiency of e-collaborative process that would
result in profit and competitive advantage.
Abstract: Raphia wine is an important forest product with cultural significance besides its use as medicine and food in southern Nigeria. This work aims to evaluate the profitability of Raphia wine production and marketing in Sapele Local Government Area, Nigeria. Four communities (Sapele, Ogiede, Okuoke and Elume) were randomly selected for data collection via questionnaires among producers and marketers. A total of 50 producers and 34 marketers were randomly selected for interview. Data was analyzed using descriptive statistics, profit margin, multiple regression and rate of returns on investment (RORI). Annual average profit was highest in Okuoke (Producers – N90, 000.00, Marketers - N70, 000.00) and least in Sapele (Producers N50, 000.00, Marketers – N45, 000.00). Calculated RORI for marketers were Elume (40.0%), Okuoke (25.0%), Ogiede (33.3%) and Sapele (50.0%). Regression results showed that location has significant effects (0.000, ρ ≤ 0.05) on profit margins. Male (58.8%) and female (41.2%) invest in Raphia wine marketing, while males (100.0%) dominate production. Results showed that Raphia wine has potentials to generate household income, enhance food security and improve quality of life in rural, semi-urban and urban communities. Improved marketing channels, storage facilities and credit facilities via cooperative groups are recommended for producers and marketers by concerned agencies.
Abstract: In the near future, companies will be increasingly forced to shift their activities along a new road in order to decrease the harmful effects of their design, production and after-life on our environment. Products must meet environmental standards to not only prevent penalties but to consider the sustainability for future generations. However, the most important factor that companies will face is selecting a reasonable strategy to maximize their profit. Thus, companies need to have precise forecast from their profit after design stage through Trade-off analysis. This paper is an attempt to introduce a mathematical model that considers effective factors that impact the total profit when products are designed for resource and energy efficiency or recyclability. The modification is according to different strategies based on a Cost-Volume-Profit model. Here, the cost structure consists of Recycling cost, Development cost, Ramp-up cost, Production cost, and Pollution cost. Also, the model shows the effect of implementation of design for recyclable on revenue structure through revenue of used parts and revenue of recycled materials. A numerical example is used to evaluate the proposed model. Results show that fulfillment of Green Product Development not only can reduce the environmental impact of products but also it will increase profit of company in long term.
Abstract: Non-Government Organizations (NGOs), Non-Profit Organizations (NPOs), Social Enterprises and other actors play an important role in political decisions in governments at the international levels. Especially, such organizations’ and activists’ network in civil society is quite important to effect to the global politics. To solve the complex social problems in global era, diverse actors should corporate each other. Moreover, network of protesters is also contributes to diffuse tactics, information and other resources of social movements.
Based on the findings from the study of International Trade Fairs (ITFs), the author analyzes the network of activists in anti-globalism movement. This research focuses the transition of 54 activists’ whole network in the “protest event” against 2008 G8 summit in Japan. Their network is examined at the three periods: Before protest event phase, during protest event phase and after event phase. A mixed method is used in this study: the author shows the hypothesis from social network analysis and evaluates that with interview data analysis.
This analysis gives the two results. Firstly, the more protesters participate to the various events during the protest event, the more they build the network. After that, active protesters keep their network as well. From interview data, we can understand that the active protesters can build their network and diffuse the information because they communicate with other participants and understand that diverse issues are related.
This paper comes to same conclusion with previous researches: protest events activate the network among the political activists. However, some participants succeed to build their network, others do not. “Networked” activists are participated in the various events for short period of time and encourage the diffusion of information and tactics of social movements.