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Journal articles on the topic 'Managerial economics. Supply and demand'
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1
Sridharan, Ramaswami, and Togar M. Simatupang. "Managerial Views of Supply Chain Collaboration: An Empirical Study." Gadjah Mada International Journal of Business 11, no. 2 (May 12, 2009): 253. http://dx.doi.org/10.22146/gamaijb.5527.
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This paper is carried out to empirically examine managerial perceptions on the relationship between supply chain collaboration practice and operational performance. The framework suggests that collaborative practice is characterised by three distinct factors: (1) decision synchronisation, (2) information sharing, and (3) incentive alignment, which enable the chain members to effectively match supply with customer demand. An important question is whether or not collaborative practice leads to better operational performance. A survey research was employed to assess the relationship between collaborative practice and operational performance of New Zealand companies. The survey results show significant positive impacts of key factors of collaborative practice on operational performance. The findings suggest that information sharing, decision synchronisation, and incentive alignment are important determinants of operational performance. This study demonstrates that the chain members need to understand the role of different key factors of collaborative practice that can be redesigned to leverage operational performance.
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Mazambani, Last, and Emmanuel Mutambara. "Sustainable performance of microinsurance in low-income markets." Risk Governance and Control: Financial Markets and Institutions 8, no. 2 (2018): 41–53. http://dx.doi.org/10.22495/rgcv8i2p2.
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Sustainable performance in microinsurance offering in low-income markets is important to ensure that the service simultaneously achieves corporate profitability and poverty alleviation. Sustainable performance requires a balanced integration of supply and demand factors in the offering of the service. Microinsurance is still supply driven thereby creating a lopsided mismatch between demand and supply that leads to oversupply and low uptake. On the basis of extant literature, the paper aims to propose and discuss factors critical to demand and supply of microinsurance. A conceptual framework for sustainable microinsurance is presented with individual metrics that can be addressed as managerial tools for driving and controlling sustained superior performance. While this is a theoretical paper, microinsurance practitioners may benefit from the application of the presented theory.
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Hurley, Patrick J., and Brian W. Mayhew. "Market Reactions to a High-Quality Auditor and Managerial Preference for Audit Quality." AUDITING: A Journal of Practice & Theory 38, no. 4 (July 1, 2019): 131–49. http://dx.doi.org/10.2308/ajpt-52478.
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SUMMARY We insert an automated high-quality (HQ) auditor into established experimental audit markets to test the impact of high-quality competition on other auditors' supply of and managers' demand for audit quality. Theory predicts that managers will demand high levels of audit quality to avoid investors' price-protecting behavior. This demand should result in the HQ auditor dominating the market and increase other auditors' audit quality provision to compete with the HQ auditor. However, we find that the HQ auditor does not dominate the market—despite holding audit costs constant and investors placing a premium on HQ auditor reports. We also find that adding an HQ auditor results in other auditors lowering audit quality. Additional analyses indicate some managers demand lower audit quality to avoid negative audit reports, consistent with loss aversion as a potential explanation. Our findings indicate a need to develop a more comprehensive theory of the demand for auditing. Data Availability: The laboratory market data used in this study are available from the authors upon request.
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Mbhele, Thokozani Patmond, and Maxwell Agabu Phiri. "Challenging bullwhip effect dynamics with electronically enabled-supply chain management systems." Risk Governance and Control: Financial Markets and Institutions 6, no. 4 (2016): 244–56. http://dx.doi.org/10.22495/rgcv6i4c2art1.
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The bullwhip effect shows the dynamics of accumulating order rate that exceeds the tentatively stable actual demand rate. This paper aimed to assess the relative role of e-SCM systems as consumer demand orders cascading upstream supply chain network. The study’s population, consisting of the managers (senior and functional levels) including supervisory level (non-managerial) from retail sales, logistics, warehousing, marketing, manufacturing and IT hubs organisations, comprised of 460 respondents. In order to achieve the paper’s objective, the researcher developed and distributed a survey questionnaire and collected and analysed the data using Statistical Package for the Social Sciences (SPSS). The empirical results from the study reveal that business-to-business information technology (B2BIT) diffusion frequencies have an effect on supply chain performance and e-SCM implementation promotes connectivity among supply chain partners to entrench commitment of the exchanged demand order information to mitigate the bullwhip effect.
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Mitchell, Falconer, Gavin C. Reid, and Nicholas G. Terry. "Venture Capital Supply and Accounting Information System Development." Entrepreneurship Theory and Practice 21, no. 4 (July 1997): 45–62. http://dx.doi.org/10.1177/104225879702100404.
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One of the most important events in the early life-cycle of any entrepreneurial firm that harbors serious growth ambitions is the Infusion of external capital (Reid, 1996). This event can lead to significant changes in the firm's ownership composition. It affects its subsequent rate of growth and, consequently, its size and organizational structure. It is within the context of such changes that the managerial demand for information about the firm is stimulated. This study examines the origins and characteristics of developments in the accounting information systems (AIS) of firms that are going through this stage. It does so by investigating the consequences of venture capital1 intervention for the entrepreneurial firm, particularly as regards the characteristics of its accounting information system.
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Li, Zhengyi, and Jiangtao Hai. "A Capacitated Location-Inventory Model with Demand Selection." Journal of Advanced Transportation 2019 (January 23, 2019): 1–11. http://dx.doi.org/10.1155/2019/2143042.
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In this paper, we consider an integrated supply chain network design problem, which incorporates inventory and pricing decisions into the capacitated facility location model. We assume that each warehouse has a capacity limitation that limits the average demand flowing through the warehouse and that the supplier can choose whether to satisfy each potential retailer’s demand. We formulate the problem as a nonlinear integer programming model and solve the model via a Lagrangian relaxation based approach. We develop an efficient algorithm to solve the subproblem that arises from the Lagrangian relaxation procedure. Finally, we conduct extensive computational experiments to test the performance of the algorithms proposed in this paper and provide the managerial insights based on the computational results.
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Quinn, Simon, and Christopher Woodruff. "Experiments and Entrepreneurship in Developing Countries." Annual Review of Economics 11, no. 1 (August 2, 2019): 225–48. http://dx.doi.org/10.1146/annurev-economics-080218-030246.
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We discuss the value of experiments in illuminating constraints on the growth of firms in developing countries. Experiments have provided insight into both the value and the difficulty of alleviating capital constraints in small firms. They suggest that urban, low-skilled labor markets appear to work reasonably well for firms, although there is a suggestion that frictions in markets for skilled workers may have more effect on firms. While observational data suggest that managerial training is important, experiments have shown that the traditional methods of delivering this training to small enterprises, at least, are not effective. Finally, while most work has focused on alleviating supply constraints, recent experiments have shown that positive demand shocks can be sufficient to generate firm growth. Experiments have been particularly illuminating in uncovering patterns in individual decision making, showing how agents respond to the specific changes in circumstances or incentives generated by the experiment. They are most valuable when they complement insight driven by theory.
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Holzhacker, Martin, Ranjani Krishnan, and Matthias D. Mahlendorf. "Unraveling the Black Box of Cost Behavior: An Empirical Investigation of Risk Drivers, Managerial Resource Procurement, and Cost Elasticity." Accounting Review 90, no. 6 (March 1, 2015): 2305–35. http://dx.doi.org/10.2308/accr-51092.
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ABSTRACT This paper extends prior literature on cost behavior by providing insights into how firms achieve changes to cost structure in response to two important risk drivers, i.e., demand uncertainty and financial risk. Using theory from labor economics, supply-chain management, and finance, we posit that demand uncertainty and financial risk influence cost management activities. Specifically, we argue that firms are likely to alter resource procurement choices to increase cost elasticity in response to these two risk drivers. We use data from California hospitals that allow for the calibration of three distinct resource procurement choices that increase cost elasticity: outsourcing, leasing of equipment, and hiring contract labor. Mediation analysis using 2,202 hospital year observations indicates that both demand uncertainty and financial risk influence cost elasticity. Importantly, these effects are mediated by the three aforementioned resource procurement choices. Overall, our findings support the view that firms make procurement choices to manage the risk associated with cost structures. Data Availability: Data used in this study are publicly available from the Office of Statewide Health Planning and Development (see: http://www.oshpd.ca.gov/). JEL Classifications: I18; M41.
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Black, Jonathan, Jeff Zeyun Chen, and Marc Cussatt. "The Association between SFAS No. 157 Fair Value Hierarchy Information and Conditional Accounting Conservatism." Accounting Review 93, no. 5 (November 1, 2017): 119–44. http://dx.doi.org/10.2308/accr-51963.
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ABSTRACT Investors demand conditional conservatism to restrict managers' ability to opportunistically exploit unverifiable accounting estimates. The fair value estimation process is subject to verifiability concerns when market prices are unavailable and, thus, susceptible to managerial discretion. We explore whether banks' exposure to less-verifiable fair value estimates is associated with conditional conservatism. General and bank-specific conservatism measures indicate that banks with greater proportions of less-verifiable fair value assets exhibit more conditional conservatism. Cross-sectional analyses provide evidence that this relation varies predictably with investor-demand and manager-supply proxies. Further analyses indicate that monitoring institutional investors drive the demand for conservatism. We identify high-quality auditors and board independence as two mechanisms used to invoke conservatism. Findings are robust to the exclusion of fair value earnings components, suggesting that the effect is not confined to fair value accounts. Together, our results indicate that less-verifiable fair value estimates generate demand for conditional conservatism in the financial industry.
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Kroll, Yoram, and David Yechiam Aharon. "Analytical redefinition of DOL and managerial investment decisions." Managerial Finance 40, no. 7 (June 3, 2014): 734–54. http://dx.doi.org/10.1108/mf-08-2013-0218.
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Purpose – The purpose of this paper is to develop alternative analytical measures for the degree of operating leverage (DOL) that reflect the impact of uncertain demand shocks in the product's market on optimal production levels, sales and profits of the firm. Design/methodology/approach – The elasticity measures are constructed according to a theoretical formulation of optimal production level that corresponds to demand shocks for given predetermined levels of fixed cost. Findings – The paper suggests two main findings. First, the analytical marginal DOL is at least twice the traditional DOL depending on the structure of the shock, the production function and demand's elasticity. The traditional DOL is equal to the measure only when large-scale negative demand prompts the firm to abandon production. Second, the paper also provides an analytical measure of DOL in terms of elasticity of profit to sales rather than to production level. Both theoretically and empirically elasticity of profit to sales can be better measured and better reflects risk. Research limitations/implications – This paper should be extended to encompass multiple shocks on demand and supply while investigating the empirical multi variants distribution of the shocks. Practical implications – The model can be used by managers who are well informed about the fixed and variable costs of their firm. The model determines the mean profit- risk trade off which is an important factor in all investment decision problems. Originality/value – Surprisingly and according to the best knowledge, this paper is the first attempt in the literature for alternative analytical DOLs’ formulations that is coherent with basic economic theories of optimal production level under risk.
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Zhang, Guitao, Qingmei Sui, Jinsong Hu, Yongguang Zhong, and Hao Sun. "Equilibrium Model of Discrete Dynamic Supply Chain Network with Random Demand and Advertisement Strategy." Mathematical Problems in Engineering 2014 (2014): 1–14. http://dx.doi.org/10.1155/2014/539768.
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The advertisement can increase the consumers demand; therefore it is one of the most important marketing strategies in the operations management of enterprises. This paper aims to analyze the impact of advertising investment on a discrete dynamic supply chain network which consists of suppliers, manufactures, retailers, and demand markets associated at different tiers under random demand. The impact of advertising investment will last several planning periods besides the current period due to delay effect. Based on noncooperative game theory, variational inequality, and Lagrange dual theory, the optimal economic behaviors of the suppliers, the manufactures, the retailers, and the consumers in the demand markets are modeled. In turn, the supply chain network equilibrium model is proposed and computed by modified project contraction algorithm with fixed step. The effectiveness of the model is illustrated by numerical examples, and managerial insights are obtained through the analysis of advertising investment in multiple periods and advertising delay effect among different periods.
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Delkhosh, Fatemeh, and Seyed Jafar Sadjadi. "A robust optimization model for a biofuel supply chain under demand uncertainty." International Journal of Energy and Environmental Engineering 11, no. 2 (December 17, 2019): 229–45. http://dx.doi.org/10.1007/s40095-019-00329-w.
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AbstractThe growing demand for fuels combined with the fact that there are limited fossil fuel resources has led the world to seek renewable energy resources such as biofuels. Micro-algae can be an efficient source of biofuel energy, since it significantly reduces air pollution. In this paper, we develop a micro-algae biofuel supply chain through a two-stage approach. This study aims to commercialize micro-algae as a new source of energy. In the first stage, we utilize the Best-Worst Method (BWM) to determine the best cultivation system, and in the second stage, a bi-objective mathematical model is presented which simultaneously optimizes the economic and environmental objectives. We also propose a robust optimization model to deal with the uncertain nature of the biofuel supply chain. Our analysis on the trade-off between the supply chain’s total cost and unfulfillment demand arrives at interesting managerial insights. Furthermore, to show the effectiveness of the robust optimization model, we compare the performance of the robust and deterministic models, and the results show that the robust model dominates over the deterministic model in all scenarios. Finally, sensitivity analysis on critical parameters is conducted to help decision-makers find the optimal trade-off between investment and its benefits.
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Bochkay, Khrystyna, Roman Chychyla, and Dhananjay (DJ) Nanda. "Dynamics of CEO Disclosure Style." Accounting Review 94, no. 4 (September 1, 2018): 103–40. http://dx.doi.org/10.2308/accr-52281.
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ABSTRACT We examine changes in CEOs' disclosure styles in quarterly earnings conference calls over their tenure. Our longitudinal analysis of newly hired CEOs shows that CEOs' forward-looking disclosures and their disclosures' relative optimism decline in their tenure. Further, externally hired and inexperienced CEOs are more future-oriented, and younger CEOs exhibit greater optimism in their disclosures. We also find that non-CEO executives' disclosure styles remain time-invariant over their CEOs' tenure. Our evidence is consistent with uncertainty reduction about managers' ability over their tenure (1) reducing the demand for and the supply of forward-looking disclosures, and (2) attenuating managerial career concerns leading to the decline in disclosure optimism. JEL Classifications: D22; D70; D82; D83; L20; M12.
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Ma, Rufei, and Pengxiang Zhai. "A jump-diffusion real option approach for hotel investment under uncertain lodging demand." Kybernetes 45, no. 10 (November 7, 2016): 1604–16. http://dx.doi.org/10.1108/k-02-2016-0025.
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Purpose One of the important characteristics of the hotel business is uncertainty of lodging demand, which can jeopardize hotel operation and ultimately even threaten a hotel’s survival during an economic recession. The purpose of this paper is to propose an approach to determine optimal hotel investment issues under uncertain lodging demand. Design/methodology/approach Uncertainty of lodging demand is classified into two types: the impact of unexpected economic recession and the temporary imbalance between supply of hotel rooms and lodging demand. A jump-diffusion real option approach is proposed to analyze how these two types affect optimal investment timing and the potential value of new hotel projects. The case of hotel investment in Macao is used to illustrate the jump-diffusion real option approach. Findings The results of numerical analysis show that the uncertainty induced by temporary imbalance between supply of hotel rooms and lodging demand increases the threshold of investment and hotel value, while the uncertainty induced by unexpected economic recession has ambiguous effects on the value and optimal investment timing of new hotel projects. Practical implications The jump-diffusion real option approach increases managerial flexibility for managers when making investment decisions on new hotel projects, allowing greater value to be generated than is possible with the conventional discounted cash flow method. Originality/value The approach separates the impact of unexpected economic recession on lodging demand from that of “normal” fluctuations in lodging demand, and it considers the impact of both types of uncertainty on hotel investment.
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Bauer, Kinga. "Przesłanki i warunki wykorzystania rachunkowości i analizy finansowej w biznesplanie małego przedsiębiorcy." Przedsiębiorczość - Edukacja 6 (January 1, 2010): 141–56. http://dx.doi.org/10.24917/20833296.6.11.
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A business plan focuses on a formal statement of the set business goals, the reasons why theyare believed attainable, and the plan for reaching those goals. It may also contain informationabout the organization. A business plan is usually created for the benefit of the external ownersof capital. The most important information for investors is that about costs, profits and risk.Accounting provides information about a separate economic unit. Accounting informationis verifiable, objective and quantitative. It is the basis for economic decision making. The accountinginformation system basically serves two categories of users – those that are external tothe business organization and those that are internal. Both financial and managerial accountingare possible. Organizations require both. Financial accounting is primarily for those externalto the organization; managerial accounting is for the internal use of managers, but it can alsobe used by external users. Accounting data can be used in a business plan.The demand for accounting data has grown rapidly because it increases knowledge andreduces risk. Financial institutions that supply the business with capital for investment orexpansion are very interested in such factors as the reputation and ability of the company’smanagement, its ability to meet its financial obligations, and its prospects for future success.A company’s financial statements, financial analyses and managerial accounting are an importantsource of this information. To reduce their risks lenders can demand accounting data in abusiness plan.
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Kulp, Susan Cohen. "The Effect of Information Precision and Information Reliability on Manufacturer-Retailer Relationships." Accounting Review 77, no. 3 (July 1, 2002): 653–77. http://dx.doi.org/10.2308/accr.2002.77.3.653.
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This study investigates the extent to which a retailer's willingness to share internal (sales and inventory) information with a manufacturer and the reliability of the information transmission between the retailer and the manufacturer affect the total supply-chain profits resulting from two alternative inventory management systems. I present analytical models of a traditional system and a Vendor Managed Inventory (VMI) system. The VMI system is a supply-chain management technique in which the retailer delegates its inventory decisions to, and shares its internal accounting information with, the manufacturer. With VMI, the parties aim to reduce inventory-related costs and increase supply-chain profits. The theoretical analysis indicates that the system that produces higher supply-chain profits depends on the extent to which the retailer reveals its internal accounting information to the manufacturer and the ability of the manufacturer to accurately receive and use this information in its decisions. Survey data corroborate the model's prediction that manufacturers are more likely to select VMI when retailers provide more precise sales and inventory (i.e., demand) information and when the manufacturers' systems ensure reliable transmission and receipt of this information. The study's results suggest that managerial accountants should consider the retailer's willingness to share sales and inventory information with the manufacturer and the manufacturer's ability to reliably transmit this information before implementing VMI systems.
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Gryshova, Inna, Nataliia Demchuk, Iryna Koshkalda, Nataliia Stebliuk, and Nataliia Volosova. "Strategic Imperatives of Managing the Sustainable Innovative Development of the Market of Educational Services in the Higher Education System." Sustainability 11, no. 24 (December 17, 2019): 7253. http://dx.doi.org/10.3390/su11247253.
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The conditions of the functioning of state higher education institutions at the present stage of development of the Ukrainian economy require new approaches to solve the problem of the relationship between the volume of training of specialists with higher education and their employment in the sphere of economic activity. The purpose of this article was to provide theoretical substantiation and practical recommendations for the development of a higher education institution development strategy for making managerial innovative decisions on balancing the demand and supply of educational services in a competitive environment. The following methods were used in the study: abstract logical; comparative economic and system structural; statistical; sociological; modeling; the algorithm of practical application of the theory of constraints of systems; and the apparatus of the theory of fuzzy sets. Methodological approaches to the implementation of the optimal allocation of budget places of the university by means of a practical application of system restriction theory and fuzzy set theory were proposed. The result was the allocation of budgetary places, taking into account the demand for specialties in terms of the economic situation of the region, the demand in the labor market, the demand among entrants, and the proposal of the institution of higher education and the Ministry of Education and Science of Ukraine. It will make it possible to reach the optimum balance between demand for specialists in specific specialties and their supply. The practical value of the research results lies in the development and use of methodological provisions for forecasting the demand and supply of educational services of higher education institutions, which are means of prospective reflection, predicting the ways of further development of the higher education system and modeling of various options for its functioning.
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LAUT, Lorentino Togar, Rr Retno SUGIHARTI, and Jihad Lukis PANJAWA. "DOES TOURISM SECTOR MATTER IN REGIONAL ECONOMIC DEVELOPMENT." GeoJournal of Tourism and Geosites 37, no. 3 (September 30, 2021): 832–37. http://dx.doi.org/10.30892/gtg.37313-715.
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The regional autonomy policy is expected to promote the government in carrying out fiscal management independently. However, local own-source revenue was the only source of revenue and measurement of independence and it has not been achieved optimally. Many provinces failed to fully support regional needs, even though it has the highest tourism sector revenue contributors. The purpose of this study is to analyze the influence of the tourism sector in terms of supply and demand on regional independence. To analyze the regional income model seen from the contribution of the tourism sector by including the lag variable, this study used a Dynamic Panel method which is also known as Partial Adjusted in Central Java Province, Indonesia from 2013-2018. The result showed that the increase in local own-source revenue from the demand side is more elastic than the supply contribution. The addition of new tourist objects without proper management tends not to have a significant impact on regional income. Also, the attraction of people visiting the tourist in Central Java Province is still high because of a significant positive number of tourist arrivals. The government needs to focus on managerial improvements, development, and innovation of existing tourist objects
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Oliveira, Fabiana Lucena, Aristides da Rocha Oliveira Junior, and Luiza M. Bessa Rebelo. "Adapting transport modes to supply chains classified by the uncertainty supply chain model: A case study at Manaus Industrial Pole." International Journal of Production Management and Engineering 5, no. 1 (January 31, 2017): 39. http://dx.doi.org/10.4995/ijpme.2017.5775.
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<p class="FonteResumo">This paper discusses transport modes supporting Uncertainty Supply Chain Model (USCM) in the case of Manaus Industrial Pole (PIM), an industrial cluster in the Brazilian Amazon that hosts six hundred factories with diverse logistics and supply chain managerial strategies. USCM (Lee, 2002; Fisher, 1997)develops a dot matrix classification of the supply chains considering several attributes (e.g., agility, cost, security, responsiveness) and argues that emergent economies industrial clusters, in the effort to keep attractiveness for technological frontier firms, need to adapt supply chain strategies according to USCM attributes. The paper takes a further step, discussing which transport modes are suitable to each supply chain classified at the USCM in PIM´s case. The research´s methods covered the use of PIM´s statistical official database (secondary data), interviews with the main logistical services providers of PIM and phone survey with a sample of firms (primary data). Findings confirm the theoretical argument that different supply chains will demand different transport modes running at the same time in the same industrial cluster (Oliveira, 2009). In the case of PIM, this implies investments on port and airport infrastructure and a strategic focus on air transport mode, due to (1) short life cycle of products, (2) distance from suppliers, (3) quick response to demand and (4) the fact that even PIM´s standard products use, in average, forty per cent of air transport at inbound logistics.</p>
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Brown-Liburd, Helen, and Valentina L. Zamora. "The Role of Corporate Social Responsibility (CSR) Assurance in Investors' Judgments When Managerial Pay is Explicitly Tied to CSR Performance." AUDITING: A Journal of Practice & Theory 34, no. 1 (May 1, 2014): 75–96. http://dx.doi.org/10.2308/ajpt-50813.
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SUMMARY While corporate social responsibility (CSR) reports are intended to faithfully represent CSR performance, voluntarily disclosed CSR information tends to be positive, and demand is rising for both independent assurance and integrated reporting of CSR. However, the supply of CSR assurance is not widespread in the United States, and CSR performance information remains largely separated from supporting and governance information. We thus examine the role of CSR assurance when information on CSR investment level is integrated with information on whether managerial pay is explicitly tied to sustainability. While a firm may report a high level of CSR investment to indicate an authentic commitment to CSR, investors may become skeptical of reported information if managerial pay is explicitly tied to CSR performance. Such pay-for-CSR-performance provides managers with greater incentives to overinvest in CSR and thereby report strong CSR performance. In turn, investors will seek CSR assurance as a disclosure credibility signal. Accordingly, we find that, in the presence of pay-for-CSR-performance and high CSR investment level, investors' stock price assessments are greater only when CSR assurance is also present. Our findings highlight the importance of examining CSR disclosure factor interaction effects, and provide support for the expansion of CSR assurance and integrated reporting. Data Availability: Data available upon request.
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Obeta, Michael Chukwuma, and Cletus Famous Nwankwo. "Factors Responsible For Rural Residential Water Supply Shortage In Southeastern Nigeria." Journal of Environmental Geography 8, no. 3-4 (December 1, 2015): 21–32. http://dx.doi.org/10.1515/jengeo-2015-0009.
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Abstract Efficient water supply is very crucial to sustenance of socio-economic growth, poverty attenuation, and food security. In most rural areas of developing countries including Nigeria water supplies are not commensurate with demand leading to a shortfall in water use and many people suffer from this scenario. This research investigated the factors responsible for rural residential water supply shortage in Southeastern Nigeria. Data were collected through the use of four mixed but complimentary methods namely questionnaire survey, interviews, focus group discussions and secondary data sources. The data generated were analyzed through the use of descriptive and inferential statistical tools. Principal Component Analysis was employed to combine the variables accounting for water supply shortage into a few underlying dimensions. The results indicated that physical environment and inadequate water supply infrastructure; socio-economic and geographical location; management and socio-cultural problems are responsible for water supply shortage in the area. Residential water supply can be sustainable in the area by regulating the influence of these factors impacting on water supply as well as lessen the implications of water deficiency. The research concludes that the process of water supply development should be stepwise in accordance with the participatory and managerial capacity of communities.
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Byrne, Paul, Dmitriy Chulkov, and Dmitri Nizovtsev. "Philadelphia’s taxing decision: pros and cons of a “soda tax”." CASE Journal 15, no. 4 (March 30, 2019): 337–54. http://dx.doi.org/10.1108/tcj-03-2019-0014.
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Theoretical basis This descriptive case study applies economic concepts to an issue of public policy, and helps build students’ critical thinking, analytical and quantitative skills. The case addresses a variety of topics typically taught in microeconomics and public economics courses. Topics most prominently represented in the case include elasticity of demand and supply, tax policy, tax incidence and negative externalities. Theoretical basis for each topic is laid out in the discussion section of the instructors’ manual, along with insights from student responses. The core nature of the concepts covered in this case study allows it to be integrated with common economics textbooks. Research methodology This descriptive case is based on critical economic analysis of secondary sources. Case overview/synopsis This case study focuses on the imposition of the controversial “soda tax” on sweetened beverages in the City of Philadelphia in 2017 and considers the economic lessons that can be learned from Philadelphia’s experience with the tax. The tax was proposed as a way to raise the city’s revenue while reducing obesity. After the tax was enacted, the sales of sweetened beverages declined in the city, but increased outside the city’s borders. The receipts from the tax have been below projections. Complexity/academic level Learning outcomes covered by the case are typical for a microeconomics, public economics or managerial economics course. The appropriate course levels range from the principles to the MBA level of the economics and business curriculum. Discussion questions may be selected to fit a specific course focus and level. The instructors’ manual outlines question sets suitable for various types of economics courses.
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Kapoor, Rahul, and Thomas Klueter. "Unbundling and Managing Uncertainty Surrounding Emerging Technologies." Strategy Science 6, no. 1 (March 2021): 62–74. http://dx.doi.org/10.1287/stsc.2020.0118.
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Emerging technologies, while offering enormous potential for economic growth, carry a high degree of uncertainty regarding whether and when that potential may be realized. How can firms evaluate the uncertainty surrounding an emerging technology? To address this question, we offer a structured approach that unbundles the uncertainty surrounding emerging technologies, incorporating both supply- and demand-side factors. These include the focal technology itself, the potential market applications, the users adopting the technology, the ecosystem of activities that support the technology’s value creation, and the business model with which the technology is being commercialized. We further consider that the uncertainty surrounding each of these sources may not be resolved in a vacuum, but, rather, that it may interact with other sources of uncertainty in a pooled, sequential, or reciprocal way. Such a structured approach of evaluating uncertainty can help firms and managers in terms of the cognitive processes and the managerial practices and provide microfoundations for dynamic managerial capabilities. We illustrate the applicability of the framework for two emerging technologies—gene therapy and autonomous vehicles—and how the framework can be integrated with prominent managerial practices for managing uncertainty.
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Bramall, Chris. "The Chinese Coal Industry: An Economic History. By Elspeth Thomson. [London: RoutledgeCurzon, 2003. xx+412 pp. £75.00. ISBN 0-7007-1727-7.]." China Quarterly 176 (December 2003): 1089–91. http://dx.doi.org/10.1017/s0305741003240637.
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The performance of the Chinese coal industry in the 20th century is undeniably important given the pivotal role played by coal as a source of energy for Chinese industry and consumers alike until very recently. Was the coal industry a binding constraint on Chinese economic growth across the 1949 divide? And if so, can we identify some form of managerial failure as its root cause?The answer offered by Tim Wright, in his well-known Coal Mining in China's Economy and Society 1895–1937 (1984), is that the coal shortages did not constrain pre-war economic growth. On the contrary: it was the slow growth of the Chinese economy in aggregate that limited the expansion of the coal industry. The main obstacle to the expansion of coal production was thus to be found on the demand side, and not in entrepreneurial failure or some other supply-side cause. Accepting this (rather Keynesian) conclusion, the question naturally arises as to whether the coal industry fared any better under Mao, and after. In particular, this framework of analysis invites us to consider whether the Maoist regime (and its successors) lifted the demand-side constraint, only to substitute a supply-side constraint in the form of state ownership and management.
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Fuest, Veronika, and Stefan A. Haffner. "PPP – policies, practices and problems in Ghana's urban water supply." Water Policy 9, no. 2 (April 1, 2007): 169–92. http://dx.doi.org/10.2166/wp.2007.060.
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Since the beginning of the 1990s, comprehensive reforms of the Ghanaian water sector were initiated by the Bretton Woods Institutions. The Government of Ghana was obliged to restructure the sector by establishing regulatory bodies, opening the sector to private sector participation and separating responsibilities for urban water supply from rural water supply. The parastatal Ghana Water Company Limited (GWCL) was created to be solely in charge of urban water supply. In spite of external assistance, GWCL continued to suffer from massive financial, managerial and technical problems. The gap between supply and demand increased while demand for potable water in the cities was on the rise and the supply systems were degenerating. In order to introduce greater efficiency, two options for public–private partnerships (PPP) were developed and contested, over a period of 10 years. At first private companies were invited to take over the GWCL by a lease contract. Numerous factors, among them a massive anti-privatisation campaign and global economic trends unfavourable to private investment, particularly in the water sector, caused a comprehensive revision of the policy and the modification of the PPP programme from lease to short-term management contract with an ensuing affermage concession in 2004. This process was to be supported by external donor agencies substantially upgrading the water supply infrastructure. However, it seemed doubtful if the recent policy would lead to a sustainable system of urban water supply and substantial improvements in the supply situation of the poor. Patronage relations were not sufficiently addressed and alternative PPP options based on local potential had not been considered. The case of Ghana raises issues of imposed PPP policies that are not based on adequate information about local, national and international framework conditions.
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Gunarathne, Nuwan, and Samanthi Senaratne. "Diffusion of integrated reporting in an emerging South Asian (SAARC) nation." Managerial Auditing Journal 32, no. 4/5 (April 4, 2017): 524–48. http://dx.doi.org/10.1108/maj-01-2016-1309.
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Purpose This paper aims to examine how and why integrated reporting (IR) as a managerial technology is diffused in Sri Lanka, an emerging South Asian (South Asian Association for Regional Cooperation) nation, from an expansion diffusion perspective. Design/methodology/approach The study followed two analytical steps. First, the adopter groups of IR of the country’s stock exchange were identified based on their annual reports. Second, the key stakeholders (both internal and external) in the process of IR diffusion in the country were interviewed. Thereafter, a content analysis of these semi-structured interviews was carried out based on the demand-pull and supply-push sides of the diffusion theory of innovation. Findings The temporal trend of IR suggests that the country is currently in the diffusion stage with many first time adopters are likely to join the bandwagon of IR. In the primary stage, its early adoption has been driven by the efficient-choice perspective. However, in the diffusion stage, most of the adopters are driven by fashion setting, which is mainly attributable to the active propagators in the supply side of IR diffusion. IR has been mainly a transition evolving through the incremental changes in sustainability reporting. Many firms have not internalized the IR principles with the danger of IR becoming a mere reporting mechanism. Originality/value The application of both demand-pull and supply-push sides of the diffusion theory of innovation is still limited, particularly in the case of new reporting mechanisms. The study provides new insights into how these two forces contribute to creating a “practice-reporting portrayal gap” in IR.
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Jiang, Chenming, Linjun Lu, Junliang He, and Caimao Tan. "A Two-Class Stochastic Network Equilibrium Model under Adverse Weather Conditions." Journal of Advanced Transportation 2020 (June 22, 2020): 1–14. http://dx.doi.org/10.1155/2020/2626084.
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Adverse weather condition is one of the inducements that lead to supply uncertainty of an urban transportation system, while travelers’ multiple route choice criteria are the nonignorable reason resulting in demand uncertainty. This paper proposes a novel stochastic traffic network equilibrium model considering impacts of adverse weather conditions on roadway capacity and route choice criteria of two-class mixed roadway travellers on demand modes, in which the two-class route choice criteria root in travelers’ different network information levels (NILs). The actual route travel time (ARTT) and perceived route travel time (PRTT) are considered as the route choice criteria of travelers with perfect information (TPI) and travelers with bounded information (TBI) under adverse weather conditions, respectively. We then formulate the user equilibrium (UE) traffic assignment model in a variational inequality problem and propose a solution algorithm. Numerical examples including a small triangle network and the Sioux Falls network are presented to testify the validity of the model and to clarify the inner mechanism of the two-class UE model under adverse weather conditions. Managerial implications and applications are also proposed based on our findings to improve the operation efficiency of urban roadway network under adverse weather conditions.
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Андрій Андибур. "ЩОДО ЗАБЕЗПЕЧЕННЯ ГАЛУЗЕЙ І ПІДПРИЄМСТВ НАЦІОНАЛЬНОГО ГОСПОДАРСТВА УКРАЇНИ НАЛЕЖНИМИ ЛЮДСЬКИМИ РЕСУРСАМИ НА ЗАСАДАХ ПРЯМОЇ ВЗАЄМОДІЇ СУБ’ЄКТІВ ФОРМУВАННЯ РИНКУ ПРАЦІ." International Journal of Innovative Technologies in Economy, no. 8(20) (November 30, 2018): 16–22. http://dx.doi.org/10.31435/rsglobal_ijite/30112018/6209.
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In the article, from the standpoint of market conditions for the formation of labor demand and supply on qualified human resources, the existing problems of unregulated interaction of a plurality of enterprises of branches of the national economy of Ukraine with a number of higher educational institutions as consumers and suppliers of these resources are considered. The conditions and the scheme of organization of direct interaction of enterprises and educational establishments in the mode of "subject-subject" in the processes of ordering-training-supplying the necessary categories of human resources by minimizing the financial participation of the state budget and the managerial influences of the state are proposed and substantiated. It has been demonstrated that if a new scheme of cluster organization of relations between the subjects of supply and consumption of skilled human resources takes place on the labor market, the advantages of using the proposed organizational decisions from the standpoint of increasing the economic independence of the market participants, the possibilities of increasing the economic efficiency of their relations and, as a consequence, a reduction in the burden on the state budget.
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Alvaredo, Facundo, Anthony B. Atkinson, Thomas Piketty, and Emmanuel Saez. "The Top 1 Percent in International and Historical Perspective." Journal of Economic Perspectives 27, no. 3 (August 1, 2013): 3–20. http://dx.doi.org/10.1257/jep.27.3.3.
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The top 1 percent income share has more than doubled in the United States over the last 30 years, drawing much public attention in recent years. While other English-speaking countries have also experienced sharp increases in the top 1 percent income share, many high-income countries such as Japan, France, or Germany have seen much less increase in top income shares. Hence, the explanation cannot rely solely on forces common to advanced countries, such as the impact of new technologies and globalization on the supply and demand for skills. Moreover, the explanations have to accommodate the falls in top income shares earlier in the twentieth century experienced in virtually all high-income countries. We highlight four main factors. The first is the impact of tax policy, which has varied over time and differs across countries. Top tax rates have moved in the opposite direction from top income shares. The effects of top rate cuts can operate in conjunction with other mechanisms. The second factor is a richer view of the labor market, where we contrast the standard supply-side model with one where pay is determined by bargaining and the reactions to top rate cuts may lead simply to a redistribution of surplus. Indeed, top rate cuts may lead managerial energies to be diverted to increasing their remuneration at the expense of enterprise growth and employment. The third factor is capital income. Overall, private wealth (relative to income) has followed a U-shaped path over time, particularly in Europe, where inherited wealth is, in Europe if not in the United States, making a return. The fourth, little investigated, element is the correlation between earned income and capital income, which has substantially increased in recent decades in the United States.
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Sampson, Scott E., and R. Bruce Money. "Modes of customer co-production for international service offerings." Journal of Service Management 26, no. 4 (August 17, 2015): 625–47. http://dx.doi.org/10.1108/josm-01-2015-0033.
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Purpose – Much has been written about the manifestations and managerial implications of customer co-production in service offerings. However, there have been relatively few references to issues of co-production in international service environments. Co-production is very relevant in international environments because of the requirements for interaction between producers and consumers, which interaction spans international borders and national cultures. The purpose of this paper is to apply an established theory of co-production, the Unified Service Theory (UST), to the international service context. This provides the authors with structured models for conceptualizing the co-productive nature of international service offerings and assessing-related managerial implications. Design/methodology/approach – The UST provides a model of co-productive service delivery. Extending that model, the authors develop a taxonomy of international service based on the “four modes of service supply” provided in the General Agreement on Trade and Services instituted by the World Trade Organization (WTO). Then, using data from the WTO and World Bank, the authors propose and test six hypotheses for predicting service exporting focus corresponding to the co-production taxonomy. Findings – Based on the analysis of empirical data, the authors find more service exporting focus in small, growing, high-wage economies that have a significant service base and focus in merchandise exporting. The strength of these effects differs for different modes of service supply. Research limitations/implications – The authors also discuss cultural issues of international service, but the empirical analysis of culture effects is thus far inconclusive. Also, the analysis is limited to modeling and studying dyadic relationships, i.e., service providers in one country involved in an interchange with customers in another country. A natural extension would be to consider triads and more complex networks of co-productive service offerings. Practical implications – This research shows how managerial implication of the UST can be extended to international service contexts. The authors review managerial implications pertaining to meeting variable demand, describing service characteristics, and pricing. Originality/value – Co-production research is well-established in service management literature. This paper extends that research to international contexts by describing the WTO taxonomy in terms of the UST. This allows the authors to apply various insights of co-production to international service offerings.
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Duan, Xiu, and Yao. "Multi-Period E-Closed-Loop Supply Chain Network Considering Consumers’ Preference for Products and AI-Push." Sustainability 11, no. 17 (August 22, 2019): 4571. http://dx.doi.org/10.3390/su11174571.
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The remanufacturing industry plays a significant role to improve the utilization of resources and contribute to environmental protection and sustainable development. E-commerce channel (e-channel) has become an important retail channel. The multi-period closed-loop supply chain network of electronic channels (E-CLSCN) is studied. Moreover, this study considers the influence of consumers’ preference for products and artificial intelligence push (AI-push) on network balance under the conditions of dynamic and static. The network consists of manufacturers, remanufacturers, and demand markets. Remanufacturers are responsible for collecting and remanufacturing. The multi-period E-CLSCN model is established through variational inequalities. The study finds that whether dynamic or static, consumers’ preference for new products (NP) has positively correlated with the profits of manufacturers and the whole E-CLSCN. Consumers’ preference for remanufacturer products (RP) has only positively correlated with the profits of remanufactures. In the aspect of AI-push, the manufacturers’ AI-push has positively correlated with the profits of the entire players of E-CLSCN, while the remanufacturers’ AI-push has only positively correlated with the profits of the remanufacturers. Also, considering the multi-period, the sensitivity of the demand markets for the investment of manufacturers’ and remanufacturers’ AI-push gradually reduces, and the marginal benefit of AI-push gradually decreases. Finally, this paper addresses interesting managerial insights from the perspective of government and enterprises. Under the dual objectives of environmental protection and economic interests of enterprises, this study provides a reference for governments and enterprises to develop relevant dynamic policies. Namely, the government formulates dynamic environmental protection measures, and enterprises formulate dynamic strategic plans and implement government policies. While promoting the management level of E-CLSCN, it effectively boosts the development of the remanufacturing industry and recycling sustainable economy.
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Becsky-Nagy, Patrícia. "Growth and venture capital investment potential for university spin-offs in Hungary." Applied Studies in Agribusiness and Commerce 7, no. 4-5 (December 30, 2013): 31–38. http://dx.doi.org/10.19041/apstract/2013/4-5/4.
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Venture backed spin-offs represent a low proportion of companies, even of innovative companies. The research question was, whether these companies have an important role in innovation and economic growth. I present the most important indicators of innovation in connection with entrepreneurship, the measures of start-ups, mainly the high-tech ones. I describe the position of venture capital industry nowadays, detailing the classical venture capital investments, targeting high-growth potential small firms, even university spin-offs. The study presents the results of a survey made as a counterpart of an academic research team, examining spin-offs, entrepreneurs and technology transfer in the most important Hungarian universities. I found that the most important obstacles of venture capital investments in high-tech spin-offs are the information gap between demand and supply side, the lack of entrepreneurs’ willingness to give up freedom in decision making, despite of low managerial skills. The low quality of financial environment is also an obstacle of the segment.
JEL Codes: G24, M13
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Kovtun, Natalia, and Nadiia Yushchenko. "Logistics models of modernization of distribution and transmission systems for the development of Ukraine as an exporter of green energy." MATEC Web of Conferences 339 (2021): 01018. http://dx.doi.org/10.1051/matecconf/202133901018.
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The article compares scientific facts and analyzes the prospects for the development of the export potential of Ukraine in the field of green energy against the background of an increase in the cost of silver used in the production of solar panels, and due to difficulties in meeting the increased demand for it by mining companies, as well as the expected reduction in the cost of thermonuclear energy due to the rapid implementation of the modified, thanks to advanced artificial intelligence systems, the design of the SPARC reactor. Economic and mathematical models for the regulation of stocks of material resources and equipment, including silver-containing ones, are proposed, which make it possible to study the invariants of managerial decisions and minimize costs. The main factors affecting the volume of formation of stocks are generalized, the types of costs associated with the management of stocks of material resources, the main types of economic and mathematical models for regulating stocks and computer programs available on the market that implement models and methods of supply management and stocks of material resources are systematized.
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Kalugina, D. A., and O. S. Kalmykova. "UPDATING THE LIST OF TOP REGIONS AS A WAY TO OVERCOME THE IMBALANCE BETWEEN SUPPLY AND DEMAND IN THE REGIONAL LABOR MARKET. EXPERIENCE OF THE SVERDLOVSK REGION." KAZAN SOCIALLY-HUMANITARIAN BULLETIN 11, no. 4 (August 2020): 27–31. http://dx.doi.org/10.24153/2079-5912-2020-11-4-27-31.
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Overcoming the contradiction between specialists who are trained by the system of secondary vocational education, on the one hand, and the need of employers for personnel, on the other, is one of the priorities of state policy in the field of professional training. The article contains a number of provisions: understanding the problem of imbalance in the labor market, the activities of state Executive bodies to overcome this problem at the Federal and regional levels, as well as the assistance of all stakeholders and social organizations. Such a problem as an imbalance between supply and demand in the labor market of various professions, specialties and qualifications was characteristic of the Sverdlovsk region, as evidenced by its reflection in the current Strategy of socio-economic development of the region. That is why improving the training system has become one of the goals of socio-economic policy. At the Federal level, a list of the TOP 50 most popular in the labor market, new and promising professions that require secondary vocational education has been developed. This list is a guideline for structural changes in the system of secondary vocational education, but it is not enough to bridge the gaps between supply and demand in the market of these regions. To take into account regional specifics, it is necessary to develop a similar list of professions in each subject of the Russian Federation. The adoption and updating of such a list requires an organized interaction of enterprises, authorities and educational organizations. The joint managerial and sociological problems that affect the interaction of social groups and public organizations of Sverdlovsk region in the process of achieving common goals, contains a compilation of practices that can be applied in other subjects of the Russian Federation.
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Asghar, Iqra, Biswajit Sarkar, and Sung-jun Kim. "Economic Analysis of an Integrated Production–Inventory System under Stochastic Production Capacity and Energy Consumption." Energies 12, no. 16 (August 19, 2019): 3179. http://dx.doi.org/10.3390/en12163179.
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Expensive power cost is a significant concern in today’s manufacturing world. Reduction in energy consumption is an ultimate measure towards achieving manufacturing efficiency and emissions control. In the existing literature of scheduling problems, the consumption of energy is considered uncertain under the dimensions of uncertain demand and supply. In reality, it is a random parameter that also depends on production capacity, manufacturing technology, and operational condition of the manufacturing system. As the unit production cost varies with production rate and reliability of the manufacturing system, the energy consumption of the system also varies accordingly. Therefore, this study investigated an unreliable manufacturing system under stochastic production capacities and energy consumption. A stochastic production–inventory policy is developed to optimize production quantity, production rate, and manufacturing reliability under variable energy consumption costs. As energy consumption varies in different operational states of manufacturing, we consider three specific states of power consumption, namely working, idle, and repair time, for an integrated production–maintenance model. The considered production system is subjected to stochastic failure and repair time, where productivity and manufacturing reliability is improved through additional technology investment. The robustness of the model is shown through numerical example, comparative study, and sensitivity analysis of model parameters. Several graphical illustrations are also provided to obtain meaningful managerial insights.
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C. Ofori-Dankwa, Joseph, and Scott Julian. "A heuristic model for explaining diversity's paradox." Journal of Organizational Change Management 27, no. 1 (February 4, 2014): 147–61. http://dx.doi.org/10.1108/jocm-03-2012-0038.
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Purpose – The purpose of this paper is to present a heuristic model to better understand the inherently paradoxical and concomitant positive and negative organizational outcomes associated with demographic diversity and value congruence in organizations. It further illustrates the resultant organizational dynamics that result from shifting levels of diversity and value congruence. Design/methodology/approach – This paper adopts the supply and demand heuristic from the economics discipline and further develops the diversity and similarity curves (DSC) model proposed by Ofori-Dankwa and Julian. Further, this analysis is carried out from both short-run (static) and long-run (dynamic) perspectives. Findings – This study illustrates how different levels of organizational diversity and value congruence (reflected by diversity and similarity curves respectively) could concurrently result in both positive and negative levels of organizational creativity and competitiveness. Research limitations/implications – As a heuristic, this study's model is a simplistic representation of the inherently complex set of relationships and outcomes that are associated with paradox in a social setting. Practical implications – This model has managerial utility for explaining how different levels of diversity in an organizational setting could potentially have different positive and negative outcomes. Originality/value – This study unpacks the implications of different levels of diversity in an organizational setting and sheds original light on the dynamic nature of virtuous and vicious organizational cycles associated with diversity.
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Prasad, Ch J. S., and D. Raghunatha Reddy. "A Study on the Role of Demographic and Psychographic Dynamics in Food and Grocery Retailing." Vision: The Journal of Business Perspective 11, no. 4 (October 2007): 21–30. http://dx.doi.org/10.1177/097226290701100403.
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The Indian food and grocery retail sector is in the transformation mode for various reasons like strong macro-economic fundamentals and the changing socio-economic scene are driving what were once traditional and small scale retail outlets into organised retail formats aimed at catering to the evolving tastes and needs of the discerning consumers. But the very fast changing trends in food and eating habits of consumers have contributed immensely to the growth of ‘Western’ format typologies such as convenience stores, departmental stores, supermarkets, specialty stores and hypermarkets. This has happened for various conspicuous reasons namely demand and supply, socio-cultural, demographic, psychographic, economic and technology advancements like a large segment of young population, a rapidly expanding middle class, rising income levels, growing literacy, increasing number of working women and nuclear family structures which in turn have created an enormous demand for consumer goods and paved way for modern retail formats. The ever changing consumer's psychographic variables like activities, interests, opinions, values and lifestyles have also completely changed the formats namely convenience stores, supermarkets and hypermarkets etc. are the crystal clear reflections of tectonic shifts in demographic and psychographic changes of consumers. However, little is known about its actual influence and contribution to the organised retailing in food and grocery sector from an empirical analysis. Thus, understanding of demo-psychographic dynamics has become an imperative in designing modern food and grocery retail formats based on the purchase patterns. The study is purely based on primary data and necessary secondary data to reinforce the model. A total of 200 retail customers in Hyderabad actively participated in the survey. Findings, various managerial and marketing implications are extensively discussed.
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Li, Wei, and Mi Ouyang. "Advertising decisions of new and remanufactured products under direct sales model." Kybernetes 45, no. 9 (October 3, 2016): 1452–71. http://dx.doi.org/10.1108/k-11-2015-0288.
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Purpose There are manufacturer, remanufacturer and advertising agency in the study. The first manufacturer is a traditional manufacturer that produces new product, while the second one operates a reverse channel producing remanufactured products from used cores. Both manufacturers bundle their products with advertisement and outsource advertising services to agents. The agents independently determine the advertising levels and take the advertising prices from manufacturers. The purpose of this paper is to study the advertising decisions of new and remanufactured products under direct-sales model. Design/methodology/approach In this study, it is assumed that the remanufacturer invests extra effort in facilitating the remanufacturing process. First, the authors establish a noncooperative Stackelberg model, where the manufacturers are the leaders and the agents are the followers. And the authors solve the equilibrium strategies backward in this two-stage model. Second, the authors observe the equilibrium characteristics with respect to the advertising price and level decisions for all members in the supply chain. The third, the authors also investigate the competition between two products and the profits of chain members. Based on the theoretical and numerical analysis, the authors derive economic and managerial insights for chain members. Findings The analysis generates the following insights. First, advertising prices and levels decrease with the increase of ultimate cost of advertising and product unit cost. Second, with greater cost-savings, remanufactured products have advantages over new products in advertising price, level and market demand. Third, when advertising elasticity is greater, remanufactured products are superior to new products in demand, advertising price and level, and remanufactured products become more competent than new products. Manufacturers and agents would like to choose the products with high advertising elasticity for remanufacturing or advertising, respectively, to pursue their maximum profits. Originality/value The contribution is constructive as no prior research has abstracted advertising service and regarded agents as chain members in a closed-loop supply chain (CLSC) with remanufacturing. Besides, the results also provide guidelines for choosing marketing strategies for advertising price and level decisions under CLSC condition.
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Cruz Roche, Ignacio, Jaime Romero, and Ricardo Sellers-Rubio. "Retail services efficiency: impact of country-specific factors." International Journal of Retail & Distribution Management 47, no. 8 (August 12, 2019): 774–92. http://dx.doi.org/10.1108/ijrdm-12-2018-0275.
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Purpose Efficiency in retailing companies is mandatory for survival. Literature acknowledges external factors impact on efficiency. However, this impact remains understudied, as previous research typically focuses on managerial decisions. The purpose of this paper is to partially fill this gap by exploring the influence of external factors on retailers’ efficiency. Design/methodology/approach This research simultaneously measures retail efficiency and evaluates the impact of six potential drivers by applying bootstrap techniques in a sample of 25 European Union countries during the period 2006–2015. Findings The efficiency of the retail system in the countries under analysis evolves at different paces during the observation period. This evolution can be explained by country population density, average store size within countries, foreign trade ratio, concentration, economic freedom and percentage of urban population. Research limitations/implications This research does not account for supply and demand restrictions that might affect retailers’ efficiency, as well as other variables that influence their production process. Practical implications This paper might help retail managers to comprehend and manage their companies’ efficiency. Furthermore, it provides clues to evaluate market attractiveness in retailers’ international expansion strategies. Social implications Policy makers can facilitate retailers’ efficiency through regulations on external variables that influence retailers’ performance, namely economic freedom and foreign trade ratio. Originality/value For the first time, this study analyses the impact of external factors on retail services efficiency across countries.
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Luo, Ying, Xiaowen Jie, Xiaoping Li, and Liming Yao. "Ranking Chinese SMEs Green Manufacturing Drivers Using a Novel Hybrid Multi-Criterion Decision-Making Model." Sustainability 10, no. 8 (July 29, 2018): 2661. http://dx.doi.org/10.3390/su10082661.
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While the rapid development of Chinese manufacturing SMEs has contributed significantly to economic growth, it has also resulted in environmental pollution and resource abuse problems. To resolve these problems, Chinese manufacturing SMEs need to accelerate their implementation of comprehensive green manufacturing (GM); However, this is a complex and arduous task as it involves government, enterprise and societal considerations. Therefore, it is has become imperative to identify Chinese manufacturing SMEs green drivers. Focusing on the current situation in China and using a combination of previous research and expert views, this paper comprehensively examines the development of SMEs in China to deconstruct the green driver dimensions. The identified drivers are then evaluated using a novel hybrid multi-criterion decision-making methods (MCDM), the evaluation criteria weights calculated using fuzzy DEMATEL and fuzzy TOPSIS employed to rank the green drivers. It was found that technology innovation, customer demand, incentives, regulations, supply chain pressure and public pressure were the most significant drivers for the implementation of GM in Chinese manufacturing SMEs. Finally, some managerial implications are given to assist the government, enterprises and the public focus on a few crucial drivers to ensure that the green transformation of Chinese manufacturing SMEs is scientific and efficient.
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Chiu, Singa Wang, Hua-Yao Wu, Tsu-Ming Yeh, and Yunsen Wang. "Solving a hybrid batch production problem with unreliable equipment and quality reassurance." International Journal of Industrial Engineering Computations 12, no. 3 (2021): 235–48. http://dx.doi.org/10.5267/j.ijiec.2021.4.001.
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A hybrid batch fabrication plan involving an outsourcing option is often established to deal with the in-house capacity constraint and/or meet timely demand with a reduced cycle time. Besides, the occurrences of unpredictable equipment malfunction and imperfect product quality should also be effectively managed during in-house fabrication to meet the production schedule and the required quality level. To address these concerns, we examine a hybrid economic production quantity (EPQ) problem with an unreliable machine and quality reassurance; wherein, an outside provider helps supply a portion of the batch at a requested timing and desirable quality, but at the price of a higher than in-house unit cost. Corrective action is performed immediately when a Poisson-distributed breakdown occurs. Once the equipment repairing task completes, the interrupted lot’s fabrication resumes. Random nonconforming products are identified, and the re-workable items among them are separated from the scraps. A rework task follows the regular process in each cycle at an extra cost. A portion of reworked items fails and are scrapped. A model portraying the problem’s characteristics is built, and an optimization methodology is utilized to find the optimal runtime solution to the problem. A numerical example reveals our result’s applicability, and specific managerial implications are suggested.
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Солоненчук, Іван Вікторович. "МЕХАНІЗМ ДЕРЖАВНОГО РЕГУЛЮВАННЯ РИНКУ ЕНЕРГОРЕСУРСІВ." Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences 139, no. 5 (April 3, 2020): 67–77. http://dx.doi.org/10.30857/2413-0117.2019.5.7.
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The article provides insights to describing specific features of government regulation of the energy market. The study offers an overview on the evolution of methods, forms and tools of government control of power supply system components across different countries. Domestic and international business practices bear evidence of a number of problems in government regulation which drives the search for their solution by building a new, more progressive model of energy market regulation, in particular, the configuration management model. This configuration regulation model contributes to more effective implementation of tools and methods of managerial intervention to the energy market at four levels: micro- (companies, households) and meso- (regional) – in shaping demand for certain types of energy resources; on meso- (sectoral) and macro- (national) – in building energy supply patterns. The effectiveness of the energy market configuration regulation model tools by their functional load is validated through a range of organizational measures (reduction of dependence on the oil and gas market; decommissioning of obsolete facilities; liberalization of the energy market in the area of distribution; further liberalization as to distributed energy generation); technological measures (building local networks with renewable sources generation; Smart Grid versions –"smart networks"; implementation of passive / active house standards; creating the electricity storage market); financial measures (attracting large investments in the energy sector; implementing project financing technologies to attract long-term investments from the banking system; launching special economic zones to reduce the tax burden on business entities within the framework of the government energy saving policy). The implementation of all these activities will enhance energy efficiency and energy saving systems, as well as contributes to attaining strategic benchmarks defined in the Energy Strategy of Ukraine until 2030.
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Yurchenko, N. I. "The Current Trends in Marketing Research in the Tourism Industry." Business Inform 10, no. 513 (2020): 450–59. http://dx.doi.org/10.32983/2222-4459-2020-10-450-459.
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Currently, the tourism industry continues to outpace the global economy despite deteriorating global economic prospects, tensions in international trade, social worries, geopolitical uncertainty, instability and the COVID-19 pandemic. The article is aimed at identifying modern trends of marketing research as part of the complex of marketing instruments in the tourism sphere. To achieve this aim, the article uses the following research methods: abstract-logical; situational analysis; mean, absolute and relative values; comparison, graphic, sociological; statistical analysis; economic-mathematical; expert surveys and estimations. Based on the data of the World Tourism Organization, the indicators of development of the world market of tourist services are analyzed. Performed were the following: analysis of the dynamics of the number of subjects of tourism activity (tour operators and travel agents) in Ukraine; total average number of full-time employees; income from the provision of tourist services; operating expenses for the provision of tourist services; number of tourists served by tour operators and travel agents in Ukraine. The content of marketing research is disclosed as a multi-stage process, which should include the collection, registration and analysis of data in the sphere of tourism business. Marketing researches should be conducted according to 8 stages: determining the problem; development of the concept of research; cabinet marketing research; field market research; analysis of market conditions (supply and demand); research of foreign markets; simulation modeling; formation of a marketing information system. In order to determine the rating of tour operators of the mass segment of the tourism market in 2020, a questionnaire containing 16 questions is specified. Its results can be used when evaluating tour operators in terms of customer comfort and cooperation with travel agents. It is proved that marketing research in the tourism industry is advisable to be carried out systematically. This will provide for substantiating and elaborating managerial solutions in order to maximize the satisfaction of the needs of consumers of tourist services and solve the problems of significant seasonal fluctuations in demand.
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Kulkarni, Virupaxayya. "Emerging Role of Management Education for Growing and Developing Agri-business In Indian Scenario: A Review." Journal of International Business, Economics and Entrepreneurship 4, no. 1 (June 30, 2019): 42. http://dx.doi.org/10.24191/jibe.v4i1.14415.
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In India, agriculture is considered as the backbone of its economy. It has been around since ancient times when other sectors were not even in existence yet. Today agriculture has achieved commercial importance and one of the powerful sectors contributing to nations’ GDP. The population of our country is increasing day by day and the size of land remains same. So, with increasing productivity, another important concept is “MANAGEMENT”. Agribusiness Management Education is a discipline that blends economic, agriculture, business (commerce) and management principles. In agriculture education, management field is gaining popularity day by day. Since the last few decades, agriculture has achieved satisfactory growth but due to some factors, the agricultural growth is relatively stagnated. So, upgradation is needed, right from pre harvesting until it reaches at the consumer level. Farmers are key performers in farming but are not able to get good returns to his produce due to many middlemen in the marketing channel. Due to a growing population, it creates a disparity between market demand and supply. So, proper management practices are required including reducing raw material wastage at farm and processing level and effective marketing strategies are also needed. Hence, an attempt is made in this paper to study the role of management education in agri-business sector and how it will help in developing managerial skills and to develop management workforce to cater for the Indian agricultural industry which serves as a good option for potential employment in corporate sector.
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Poltavskaya, Mariya, Elena Danilova, and Elena Abashkina. "Development Prospects of Non-Profit Organizations as Suppliers of Social Services: on the Example of the Volgograd Region." Logos et Praxis, no. 4 (March 2020): 74–85. http://dx.doi.org/10.15688/lp.jvolsu.2019.4.9.
Full textAbstract:
The article provides an analysis of the formation of the social services market in the Volgograd region since the adoption of a federal law that introduced fundamental changes in the field of social services, allowing non-profit organizations to act as full participants in the social services market. A review of domestic publications addressing key issues is presented: economic and managerial aspects of access of non-profit sector organizations to the social services market, infrastructure support, the formation of a state support system, successful regional practices. The role of non-governmental suppliers in the social services market is shown, the specifics of the modern institutional structure of the social services market are described. The current state of the social services market is characterized, the data of the report of the Ministry of Economic Development of Russia for 2018 on the implementation by the constituent entities of the Russian Federation of measures to ensure access to non-profit organizations to budgetary funds are presented. The main quantitative indicators of the social services market of the Volgograd region are highlighted. The results of a sociological study showed that the majority of the population does not use the services of non-profit organizations, the popularity of their services is low, and free services are most in demand. The possibilities of non-profit organizations when entering the social services market of the Volgograd region were identified: extensive experience in providing services, the availability of proven social technologies, targeted nature of assistance, customer focus. Despite the creation of conditions for expanding the access of non-governmental organizations to budget financing, there are barriers to accessing the social services market: delayed cost recovery when services are completed, economically unjustified tariffs, insufficient compensation to non-state suppliers, unnecessarily bureaucratic reporting procedure of non-profit organizations for services provided. To develop the demand and supply of non-profit organizations, it is necessary to inform the beneficiaries in more detail about the quality of the services provided, tariffs, increase the level of public confidence, introduce successful experience in other regions. Creating favorable social and economic conditions, consolidating the efforts of all interested parties can create an effective system of social services in the Volgograd region on the principles of interagency cooperation.
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Bowden, Bradley. "An exploration into the relationship between management and market forces." Journal of Management History 23, no. 3 (June 12, 2017): 297–314. http://dx.doi.org/10.1108/jmh-12-2016-0062.
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Purpose Are business outcomes due primarily to entrepreneurial and managerial ability or are they mainly the result of business content? The purpose of this study is to explore this question by comparing the railroads of Victoria and Queensland (Australia) and the South-West and Northern Plains of America between 1881 and 1900. Given the commonalities of the four railway systems in terms of their economic orientation towards rural custom, and their marked difference in terms of ownership, one would expect similarities in their financial circumstances if outcomes were primarily determined by fluctuations in global commodity markets. Conversely, marked differences would be expected if outcomes primarily resulted from managerial initiative. Design/methodology/approach Conceptually, this study is informed by the idea that social and economic outcomes are shaped by long historical movements, with meaningful structural change occurring rarely but to great effect. In exploring this concept through a comparison of the railways of Australia and the American West, the study draws on two forms of archival evidence. One source of evidence relates to railroad management, operations and finances. Figures cited come primarily from Australian railway commissioners’ reports and Poor’s Manual of the Railroads of the USA. The other source of evidence relates to agricultural statistics. These are drawn from official reports. Findings This study argues that effective strategic decision-making can only occur if we understand the structural changes that alter our world. In the late nineteenth century, the Australian and American railroads servicing newly settled rural regions were financial failures because management failed to appreciate the structural changes that the revolution in steam-powered transport had initiated; a revolution which resulted in commodity prices – and hence, the railway rates for farm produce – being determined by global demand and supply balances rather than by local factors. As a result, they continued a policy of expansion that was no longer financially justified. Originality/value This study seeks to contribute to a fundamental debate in historical studies and management about the drivers of social and economic change. Increasingly, there is acceptance of the view that historical circumstances are inherently unstable and what counts is the particular change cascading through a myriad of “events”. This study points in a contrary direction, suggesting that business outcomes are primarily determined by deep structural shifts that can be understood and steered but seldom opposed.
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Koval, N. V., N. L. Korzhenivska, and E. V. Dobrovolska. "DEVELOPMENT AND LEVEL OF EFFICIENCY OF TRADE ACTIVITIES BY RETAIL ENTERPRISES OF UKRAINE." Podilian Bulletin: Agriculture, Engineering, Economics, no. 32 (June 29, 2020): 132–44. http://dx.doi.org/10.37406/2706-9052-2020-1-16.
Full textAbstract:
Development of trading activities is carried out in accordance with the current Concept of development of internal trade of Ukraine. At a rapid pace, changes are occurring in consumer preferences, assortment conditions, and the expansion of the influence of the geographical and species capabilities of the presented goods. The analysis of internal changes in the volume of goods turnover of enterprises by product groups, business entities at the country level and its individual regions made it possible to argue and justify the importance of observing the totality of organization principles, the balance of supply and demand, purchasing power, economic feasibility and payback. The used methods of author generalizations, analytical and statistical calculations, comparisons made it possible to systematize the digital material of the study and substantiate conclusions regarding the state and dynamics of the development of trade activities in Ukraine, as well as the Khmelnitsky region, as one of its regions. The study focuses on network marketing, as one of the forms of development and improvement of trade and the determination of the necessary nomenclature and bottlenecks in the activities of trade entities, including markets. The prospects of the use of electronic commerce (purchase and sales) are substantiated, which significantly expands the possibilities for carrying out trading activities for both buyers and trade enterprises. It is proposed to take into account the influence of demographic security, as one of the factors that shape the country's product policy and its export potential. It is determined that the influence on the increase in turnover indicators has an extensive factor in the growth of prices for consumed goods, in a certain way introduces distortions in the perception of digital information. The use of innovative technologies, modern methods of managerial decision-making in the field of marketing, logistics allows us to improve the trading process, satisfy consumer demand and ensure the effectiveness of enterprises in the trading sphere.
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Ahmad, Firoz, Shafiq Ahmad, Mazen Zaindin, and Ahmad Yusuf Adhami. "A Robust Neutrosophic Modeling and Optimization Approach for Integrated Energy-Food-Water Security Nexus Management under Uncertainty." Water 13, no. 2 (January 7, 2021): 121. http://dx.doi.org/10.3390/w13020121.
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Natural resources are a boon for human beings, and their conservation for future uses is indispensable. Most importantly, energy-food-water security (EFWS) nexus management is the utmost need of our time. An effective managerial policy for the current distribution and conservation to meet future demand is necessary and challenging. Thus, this paper investigates an interconnected and dynamic EFWS nexus optimization model by considering the socio-economic and environmental objectives with the optimal energy supply, electricity conversion, food production, water resources allocation, and CO2 emissions control in the multi-period time horizons. Due to real-life complexity, various parameters are taken as intuitionistic fuzzy numbers. A novel method called interactive neutrosophic programming approach (INPA) is suggested to solve the EFWS nexus model. To verify and validate the proposed EFWS model, a synthetic computational study is performed. The obtained solution results are compared with other optimization approaches, and the outcomes are also evaluated with significant practical implications. The study reveals that the food production processes require more water resources than electricity production, although recycled water has not been used for food production purposes. The use of a coal-fired plant is not a prominent electricity conversion source. However, natural gas power plants’ service is also optimally executed with a marginal rate of production. Finally, conclusions and future research are addressed. This current study emphasizes how the proposed EFWS nexus model would be reliable and beneficial in real-world applications and help policy-makers identify, modify, and implement the optimal EFWS nexus policy and strategies for the future conservation of these resources.
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Ahmad, Firoz, Shafiq Ahmad, Mazen Zaindin, and Ahmad Yusuf Adhami. "A Robust Neutrosophic Modeling and Optimization Approach for Integrated Energy-Food-Water Security Nexus Management under Uncertainty." Water 13, no. 2 (January 7, 2021): 121. http://dx.doi.org/10.3390/w13020121.
Full textAbstract:
Natural resources are a boon for human beings, and their conservation for future uses is indispensable. Most importantly, energy-food-water security (EFWS) nexus management is the utmost need of our time. An effective managerial policy for the current distribution and conservation to meet future demand is necessary and challenging. Thus, this paper investigates an interconnected and dynamic EFWS nexus optimization model by considering the socio-economic and environmental objectives with the optimal energy supply, electricity conversion, food production, water resources allocation, and CO2 emissions control in the multi-period time horizons. Due to real-life complexity, various parameters are taken as intuitionistic fuzzy numbers. A novel method called interactive neutrosophic programming approach (INPA) is suggested to solve the EFWS nexus model. To verify and validate the proposed EFWS model, a synthetic computational study is performed. The obtained solution results are compared with other optimization approaches, and the outcomes are also evaluated with significant practical implications. The study reveals that the food production processes require more water resources than electricity production, although recycled water has not been used for food production purposes. The use of a coal-fired plant is not a prominent electricity conversion source. However, natural gas power plants’ service is also optimally executed with a marginal rate of production. Finally, conclusions and future research are addressed. This current study emphasizes how the proposed EFWS nexus model would be reliable and beneficial in real-world applications and help policy-makers identify, modify, and implement the optimal EFWS nexus policy and strategies for the future conservation of these resources.
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Koca, Eylem, Mohammad Sedaghat, and K. Paul Yoon. "Optimal Supply & Demand Balance In Service Environments." Journal of Service Science (JSS) 7, no. 1 (November 3, 2014): 43–52. http://dx.doi.org/10.19030/jss.v7i1.8888.
Full textAbstract:
We study service environments that can be modeled as stochastic finite-capacity double-ended queues, where supply and demand arrive in independent Poisson processes to be instantly paired-off. In the case where throughput (output rate) is not a significant metric of system performance (as typically studied in the literature), we derive analytical results to gain managerial insights. We find that the operational decision on optimal supply/demand balance and the strategic decision on how to achieve that optimal balance can be decoupled and stratified. With the purpose of providing a managerial guide, we identify conditions for when to manipulate demand rather than supply, and vice versa. For the first time in the literature, we study throughput considerations in this context, and we analytically characterize the optimal strategy. Specifically, we show that it is optimal to manipulate either demand, or supply (and not both), and that the optimal system balance and the strategy on how to achieve it are strongly tied. Our findings can shed light on the managerial decision making process in these environments, and they can be used to revisit any governing strategies dictating management of demand (or supply) as a first course of action.