Abstract: Using a large dataset of more than 2,400 individual microfinance institutions (MFIs) from 120 countries from 1999 to 2016, this study finds that nearly half of the international MFIs operate as for-profit institutions. Formal institutions (business regulatory environment, property rights, social protection, and a developed financial sector) impact the likelihood of MFIs being for-profit across countries. Cultural differences across countries (power distance, individualism, masculinity, and indulgence) seem to be a factor in the legal status of the MFI (non-profit or for-profit). MFIs in countries with stronger formal institutions, a greater degree of power distance, and a higher degree of collectivism experience better financial and social performance.
Abstract: In the past, we could increase profit by increasing product prices. But in the new decade, a competitive market does not let us to increase profit with increase prices. Therefore, the only way to increase profit will be reduce costs. A significant percentage of production costs are the maintenance costs, and analysis of these costs could achieve more profit. Most maintenance strategies such as RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance), PM (Preventive Maintenance) etc., are trying to reduce maintenance costs. In this paper, decreasing the maintenance costs of Concentration Plant of Golgohar Company (GEG) was examined by using of MTBF (Mean Time between Failures) and MTTR (Mean Time to Repair) analyses. These analyses showed that instead of buying new machines and increasing costs in order to promote capacity, the improving of MTBF and MTTR indexes would solve capacity problems in the best way and decrease costs.
Abstract: In the past, we could increase profit by increasing product prices. But in the new decade, a competitive market does not let us to increase profit with increased prices. Therefore, the only way to increase profit will be to reduce costs. A significant percentage of production costs are the maintenance costs, and analysis of these costs could achieve more profit. Most maintenance strategies such as RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance), PM (Preventive Maintenance) and etc., are trying to reduce maintenance costs. In this paper, decreasing the maintenance costs of Concentration Plant of Golgohar Iron Ore Mining & Industrial Company (GeG) was examined by using of MTBF (Mean Time Between Failures) and MTTR (Mean Time To Repair) analyses. These analyses showed that instead of buying new machines and increasing costs in order to promote capacity, the improving of MTBF and MTTR indexes would solve capacity problems in the best way and decrease costs.
Abstract: Few Saudi Arabia production companies face financial profit issues until this moment. This work presents a linear integer programming model that solves a production problem of a Saudi Food Company in Saudi Arabia. An optimal solution to the above-mentioned problem is a Linear Programming solution. In this regard, the main purpose of this project is to maximize profit. Linear Programming Technique has been used to derive the maximum profit from production of natural juice at Saudi Food Co. The operations of production of the company were formulated and optimal results are found out by using Lindo Software that employed Sensitivity Analysis and Parametric linear programming in order develop Linear Programming. In addition, the parameter values are increased, then the values of the objective function will be increased.
Abstract: World, nowadays, encounters serious water scarcity problem. During the past few years, by advent of Smart Energy and Water Meter (SEWM) and its installation at the electro-pumps of the water wells, one had believed that it could be the golden key to address the groundwater resources over-pumping issue. In fact, implementation of these Smart Meters managed to control the water table drawdown for short; but it was not a sustainable approach. SEWM has been considered as law enforcement facility at first; however, for solving a complex socioeconomic problem like shared groundwater resources management, more than just enforcement is required: participation to conserve common resources. The well owners or farmers, as water consumers, are the main and direct stakeholders of this system and other stakeholders could be government sectors, investors, technology providers, privet sectors or ordinary people. Designing a socio-technical system not only defines the role of each stakeholder but also can lubricate the communication to reach the system goals while benefits of each are considered and provided. Farmers, as the key participators for solving groundwater problem, do not trust governments but they would trust a fair system in which responsibilities, privileges and benefits are clear. Technology could help this system remained impartial and productive. Social aspects provide rules, regulations, social objects and etc. for the system and help it to be more human-centered. As the design methodology, Design Thinking provides probable solutions for the challenging problems and ongoing conflicts; it could enlighten the way in which the final system could be designed. Using Human Centered Design approach of IDEO helps to keep farmers in the center of the solution and provides a vision by which stakeholders’ requirements and needs are addressed effectively. Farmers would be considered to trust the system and participate in their groundwater resources management if they find the rules and tools of the system fair and effective. Besides, implementation of the socio-technical system could change farmers’ behavior in order that they concern more about their valuable shared water resources as well as their farm profit. This socio-technical system contains nine main subsystems: 1) Measurement and Monitoring system, 2) Legislation and Governmental system, 3) Information Sharing system, 4) Knowledge based NGOs, 5) Integrated Farm Management system (using IoT), 6) Water Market and Water Banking system, 7) Gamification, 8) Agribusiness ecosystem, 9) Investment system.
Abstract: One of the main concerns of miners is to increase the quality level of their products because the mining metals price depends on their quality level; however, increasing the quality level of these products has different costs at different levels of the supply chain. These costs usually increase after extractor level. This paper studies the coordination issue of a decentralized three-level supply chain with one supplier (extractor), one mineral processor and one manufacturer in which the increasing product quality level cost at the processor level is higher than the supplier and at the level of the manufacturer is more than the processor. We identify the optimal product quality level for each supply chain member by designing a revenue sharing contract. Finally, numerical examples show that the designed contract not only increases the final product quality level but also provides a win-win condition for all supply chain members and increases the whole supply chain profit.
Abstract: In recent times the resource-based view (RBV) of strategic management has recorded a sizeable attention yet there has not been a considerable scholarly and managerial discourse, debate and attention. As a result, this paper gives special bit of critical reasoning as well as top-notch analyses and relationship between RBV and organizational innovation. The study examines those salient aspects of RBV that basically have the will power in ensuring the organization's capacity to go for innovative capability. In achieving such fit and standpoint, the paper joins other relevant academic discourse and empirical evidence. To this end, a reasonable amount of contributions in setting the ground running for future empirical researches would have been provided. More so, the study is guided and built on the following strength and significance: Firstly, RBV sees resources as heterogeneity which forms a strong point of strength and allows organisations to gain competitive advantage. In order words, competitive advantage can be achieved or delivered to the organization when resources are distinctively utilized in a valuable manner more than the envisaged competitors of the organization. Secondly, RBV is significantly influential in determining the real resources that are available in the organization with a view to locate capabilities within in order to attract more profitability into the organization when applied. Thus, there will be more sustainable growth and success in the ever competitive and emerging market. Thus, to have succinct description of the basic methodologies, the study adopts both qualitative as well as quantitative approach with a view to have a broad samples of opinion in establishing and identifying key and strategic organizational resources to enable managers of resources to gain a competitive advantage as well as generating a sustainable increase and growth in profit. Furthermore, a comparative approach and analysis was used to examine the performance of RBV within the organization. Thus, the following are some of the findings of the study: it is clear that there is a nexus between RBV and growth of competitively viable organizations. More so, in most parts, organizations have heterogeneous resources domiciled in their organizations but not all organizations as it was specifically and intelligently adopting the tenets of RBV to strengthen heterogeneity of resources which allows organisations to gain competitive advantage. Other findings of this study reveal that of managerial perception of RBV with respect to application and transformation of resources to achieve a profitable end. It is against this backdrop, the importance of RBV cannot be overemphasized; the study is strongly convinced and think that RBV view is one focal and distinct approach that is focused on internal to outside strategy which engenders sourcing or generating resources internally as well as having the quest to apply such internally sourced resources diligently to increase or gain competitive advantage.
Abstract: The idea of cropping-system is a method used by
farmers. It is an environmentally-friendly method, protecting the
natural resources (soil, water, air, nutritive substances) and increase
the production at the same time, taking into account some crop
particularities. The combination of this powerful method with the
concepts of genetic algorithms results into a possibility of generating
sequences of crops in order to form a rotation. The usage of this type
of algorithms has been efficient in solving problems related to
optimization and their polynomial complexity allows them to be used
at solving more difficult and various problems. In our case, the
optimization consists in finding the most profitable rotation of
cultures. One of the expected results is to optimize the usage of the
resources, in order to minimize the costs and maximize the profit. In
order to achieve these goals, a genetic algorithm was designed. This
algorithm ensures the finding of several optimized solutions of
cropping-systems possibilities which have the highest profit and,
thus, which minimize the costs. The algorithm uses genetic-based
methods (mutation, crossover) and structures (genes, chromosomes).
A cropping-system possibility will be considered a chromosome and
a crop within the rotation is a gene within a chromosome. Results
about the efficiency of this method will be presented in a special
section. The implementation of this method would bring benefits into
the activity of the farmers by giving them hints and helping them to
use the resources efficiently.
Abstract: A distributor of Apple products' experiences numerous difficulties in developing marketing strategies for new and existing mobile product entries that maximize customer satisfaction and the firm's profitability. This research, therefore, integrates market segmentation in platform-based product family design and conjoint analysis to identify iSystem combinations that increase customer satisfaction and business profits. First, the enhanced market segmentation grid is created. Then, the estimated demand model is formulated. Finally, the profit models are constructed then used to determine the ideal product family design that maximizes profit. Conjoint analysis is used to explore customer preferences with their satisfaction levels. A total of 200 surveys are collected about customer preferences. Then, simulation is used to determine the importance values for each attribute. Finally, sensitivity analysis is conducted to determine the product family design that maximizes both objectives. In conclusion, the results of this research shall provide great support to Apple distributors in determining the best marketing strategies that enhance their market share.
Abstract: The customers use the best compromise criterion
between price and quality of service (QoS) to select or change
their Service Provider (SP). The SPs share the same market and
are competing to attract more customers to gain more profit. Due
to the divergence of SPs interests, we believe that this situation is a
non-cooperative game of price and QoS. The game converges to an
equilibrium position known Nash Equilibrium (NE). In this work, we
formulate a game theoretic framework for the dynamical behaviors
of SPs. We use Genetic Algorithms (GAs) to find the price and
QoS strategies that maximize the profit for each SP and illustrate
the corresponding strategy in NE. In order to quantify how this NE
point is performant, we perform a detailed analysis of the price of
anarchy induced by the NE solution. Finally, we provide an extensive
numerical study to point out the importance of considering price and
QoS as a joint decision parameter.
Abstract: The paper identifies the features of Polish sports clubs
in the particular organizational forms: profit and nonprofit.
Identification and description of these features is carried out in terms
of financial efficiency of the given organizational form. Under the
terms of the efficiency the research allows you to specify the
advantages of particular organizational sports club form and the
following limitations. Paper considers features of sports clubs in
range of Polish conditions as legal regulations. The sources of the
functioning efficiency of sports clubs may lie in the organizational
forms in which they operate. Each of the available forms can be
considered either a for-profit or nonprofit enterprise. Depending on
this classification there are different capabilities of increasing
organizational and financial efficiency of a given sports club. Authors
start with general classification and difference between for-profit and
non-profit sport clubs. Next identifies specific financial and
organizational conditions of both organizational form and then show
examples of mixed activity forms and their efficiency effect.
Abstract: Supply chains are the backbone of trade and
commerce. Their logistics use different transport corridors on regular
basis for operational purpose. The international supply chain
transport corridors include different infrastructure elements (e.g.
weighbridge, package handling equipments, border clearance
authorities, and so on). This paper presents the use of multi-agent
systems (MAS) to model and simulate some aspects of transportation
corridors, and in particular the area of weighbridge resource
optimization for operational profit. An underlying multi-agent model
provides a means of modeling the relationships among stakeholders
in order to enable coordination in a transport corridor environment.
Simulations of the costs of container unloading, reloading, and
waiting time for queuing up tracks have been carried out using data
sets. Results of the simulation provide the potential guidance in
making decisions about optimal service resource allocation in a trade
corridor.
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: 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: 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: 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: The transportation problems are primarily concerned with the optimal way in which products produced at different plants (supply origins) are transported to a number of warehouses or customers (demand destinations). The objective in a transportation problem is to fully satisfy the destination requirements within the operating production capacity constraints at the minimum possible cost. The objective of this study is to determine ways of minimizing transportation cost in order to maximum profit. Data were sourced from the records of the Distribution Department of 7-Up Bottling Company Plc., Ilorin, Kwara State, Nigeria. The data were computed and analyzed using the three methods of solving transportation problem. The result shows that the three methods produced the same total transportation costs amounting to N1, 358, 019, implying that any of the method can be adopted by the company in transporting its final products to the wholesale dealers in order to minimize total production cost.
Abstract: How to maintain the service speeds for the business
to make the biggest profit is a problem worthy of study, which is
discussed in this paper with the use of queuing theory. An M/M/1/N
queuing model with variable input rates, variable service rates and
impatient customers is established, and the following conclusions
are drawn: the stationary distribution of the model, the relationship
between the stationary distribution and the probability that there are n
customers left in the system when a customer leaves (not including
the customer who leaves himself), the busy period of the system,
the average operating cycle, the loss probability for the customers
not entering the system while they arriving at the system, the mean
of the customers who leaves the system being for impatient, the
loss probability for the customers not joining the queue due to the
limited capacity of the system and many other indicators. This paper
also indicates that the following conclusion is not correct: the more
customers the business serve, the more profit they will get. At last,
this paper points out the appropriate service speeds the business
should keep to make the biggest profit.
Abstract: This paper presents one comprehensive modelling approach for maintenance scheduling problem of thermal power units in competitive market. This problem is formulated as a 0/1 mixedinteger linear programming model. Model incorporates long-term bilateral contracts with defined profiles of power and price, and weekly forecasted market prices for market auction. The effectiveness of the proposed model is demonstrated through case study with detailed discussion.