Dynamic Modeling in Making Scientifically Grounded Business Decisions

2021 ◽  
Vol 39 (9) ◽  
Author(s):  
Tetyana Kalna-Dubinyuk ◽  
Kateryna Ladychenko ◽  
Lyudmila Syerova ◽  
Mariia Kuchma ◽  
Svitlana G. Litovka-Demenina
Keyword(s):  
Dynamic Modeling ◽  
Sequential Analysis ◽  
Business Management ◽  
Practical Implementation ◽  
Practical Application ◽  
Risk And Uncertainty ◽  
Business Decisions ◽  
Investment Allocation ◽  
Production Plans ◽  
Original Approach

The article considers the methods of dynamic modeling and features of their practical implementation for making scientifically sound business decisions. The article provides the classical theory of economic dynamics and forecasting, its development in the Ukrainian school of dynamic modeling with practical application in business management under certainty, risk, and uncertainty. The application of sequential analysis of variants, a new method of dynamic modeling, is substantiated. The authors suggest an original approach to forecast business development and optimize the investment allocation, logistical and human resources, the efficiency of calculations of production plans and programs, etc.

Optimizing preventive maintenance over a finite planning horizon in a semi-Markov framework

2020 ◽  
Author(s):  
Antonio Sánchez Herguedas ◽  
Adolfo Crespo Márquez ◽  
Francisco Rodrigo Muñoz
Keyword(s):  
Preventive Maintenance ◽  
Recurrence Relations ◽  
Direct Calculation ◽  
Planning Horizon ◽  
Practical Implementation ◽  
Practical Application ◽  
Mathematical Solution ◽  
Accumulated Reward ◽  
Finite Planning Horizon

Abstract This paper describes the optimization of preventive maintenance (PM) over a finite planning horizon in a semi-Markov framework. In this framework, the asset may be operating, and providing income for the asset owner, or not operating and undergoing PM, or not operating and undergoing corrective maintenance following failure. PM is triggered when the asset has been operating for τ time units. A number m of transitions specifies the finite horizon. This system is described with a set of recurrence relations, and their z-transform is used to determine the value of τ that maximizes the average accumulated reward over the horizon. We study under what conditions a solution can be found, and for those specific cases the solution τ* is calculated. Despite the complexity of the mathematical solution, the result obtained allows the analyst to provide a quick and easy-to-use tool for practical application in many real-world cases. To demonstrate this, the method has been implemented for a case study, and its accuracy and practical implementation were tested using Monte Carlo simulation and direct calculation.

scholarly journals About the possibility of identification of hydrocarbon deposits with the help of NMR

2016 ◽  
Vol 5 (2) ◽  
pp. 551-559
Author(s):  
Pavlo M. Ivashchenko ◽  
Eduard A. Bakai ◽  
Alexander I. Yurchuk
Keyword(s):  
Magnetic Field ◽  
Nuclear Magnetic Resonance ◽  
Magnetic Resonance ◽  
Absorption Spectra ◽  
Weak Magnetic Field ◽  
Directional Antennas ◽  
Practical Implementation ◽  
Practical Application ◽  
The Earth ◽  
Hydrocarbon Deposits

Abstract. The main purpose of this article is to review the theoretical prerequisites of nuclear magnetic resonance (NMR) application in tasks of search and exploration of hydrocarbon deposits. The identification peculiarities of hydrocarbon deposits in a weak magnetic field of the Earth were analysed. The necessity of using highly directional antennas for providing greater sounding depths as well as the use of absorption spectra of the sought-for minerals as sounding signals were identified and justified. A variant of practical implementation of such a system was examined and examples of practical application of the innovative NMR technology were provided.

scholarly journals The DPOBE Model for Organizational Sustainability: An Exploratory Study about its Structure, Pillars and Components among a Group of Master Degree Students

2020 ◽  
Vol 17 (1) ◽  
pp. 38-52
Author(s):  
Aníbal Areia ◽  
Francisco Esteves ◽  
João Rocha Santos ◽  
Pedro Anunciação
Keyword(s):  
Exploratory Study ◽  
Master's Degree ◽  
Early Stage ◽  
Business Management ◽  
Business Administration ◽  
Organizational Sustainability ◽  
Practical Application ◽  
Master’S Degree ◽  
Practical Implications ◽  
Made In

AbstractResearch purpose. To get a validation of the structure, pillars and components that seem to be central, and under which, business management and managers need to develop abilities and competences to ensure the sustainability of their organizations according to the ‘DPOBE Model for Organizational Sustainability’ structure.Design/Methodology/Approach. For the validation of the structure, pillars and components and it’s practical application to measure the organization’s sustainability level with the referred model, despite the focus group exercise made in an early stage, it’s also important to get a solid opinion about it among managers and also in academia, specifically among teachers and investigators on management, business administration and economics as well near master and doctorate students in this field. In this paper, we analyse the results obtained in an exploratory study, based on a survey made among students from four different master’s degree in several specific areas of business management from the School of Business Administration from the Polytechnic Institute of Setúbal (Portugal).Findings. Main results obtained with this exploratory study let the authors be granted with the developments made so far in the model and its structure, pillars and components. However, only with a major collection of opinions (answer to the survey) from the referred groups, it’s possible to define and adjust the final structure and components of the DPOBE Model.Originality/Value/Practical implications. Being an investigation with several years of development, with several articles, chapters of books, master’s degree thesis, congress presentations and papers made so far, only with a solid and validated structure, pillars and components of the DPOBE Model for Organizational Sustainability, it’s possible to go to its aim, the use of it as a quantitative tool to measure the effective organizations sustainability in a way different from other existing sustainability tools and indexes.

scholarly journals 170 lat realizacji systemu ochrony przez wychowanie w koncepcji Edmunda Bojanowskiego

2020 ◽  
pp. 199-208
Author(s):  
S. Maria Opiela
Keyword(s):  
Child Care ◽  
Early Education ◽  
School Education ◽  
Practical Implementation ◽  
Practical Application ◽  
New Research

The pedagogical thought and concept of the system of protection by Edmund Bojanowski’s upbringing, even though it was born 170 years ago, appears today to be innovative and exceptionally up-to-date. Applied in contemporary pre-school education and child care, it is a continuation of the concept of upbringing and its practical implementation by establishing on May 3, 1850 the nursery and Congregation of the Servant Sisters. The theoretical and practical application of this concept and new research and scientific studies on the essence of early education realized in Catholic pedagogical thought in the context of contemporary civilization challenges is still expected from various circles in Poland and worldwide.

Implementing Business Intelligence in Contemporary Organizations

2015 ◽  
pp. 177-192 ◽  
Author(s):  
Kijpokin Kasemsap
Keyword(s):  
Organizational Performance ◽  
Business Intelligence ◽  
Business Performance ◽  
Business Failure ◽  
Practical Implementation ◽  
Global Business ◽  
Business Decisions ◽  
Business Environments ◽  
Business Applications ◽  
Modern Business

This chapter introduces the implementation of Business Intelligence (BI), thus explaining the application overview of BI, the components of BI, the practical implementation of BI, the business value of BI, the trends in implementing BI, and the guidelines for implementing BI. BI is a broad category of business applications and technologies for gathering, providing access to, and analyzing data for the purpose of helping business enterprise users make better business decisions. BI enlarges business performance, thus leading to higher level of efficiency, better quality outputs, better marketing decisions, and lessened risk of business failure in order to gain a competitive advantage in the global business environments. It is important to create and develop a BI system to enable the useful transformation of information into the valuable knowledge for enhancing BI in organizations. Implementing BI will increase organizational performance and achieve business goals in modern business.

BSC-Based Framework for E-Business Strategy

2011 ◽  
pp. 536-547
Author(s):  
Fen Wang ◽  
Guisseppi Forgionne
Keyword(s):  
Business Strategy ◽  
Business Models ◽  
Business Management ◽  
Management Control ◽  
Strategy Development ◽  
Business Climate ◽  
Business Decisions ◽  
The Balanced Scorecard ◽  
New Business ◽  
And Performance

E-business is far more about strategy than technology (Raisinghani & Schkade, 2001). An effective e-business strategy is concerned with e-business multidimensional characteristics associated with different levels, parties, elements, and growth pattern features (Bakry & Bakry, 2001). In the process, the strategy must incorporate the effects of the instant and global Internet communication mechanism on the company’s business management architecture. The global reach and interconnectivity of the Internet have spawned new models of e-business strategy and radically transformed existing ones (Pant & Ravichandran, 2001). Indeed, what distinguishes many of the dot-coms is not their new technical power, but the radical new business models (Hamel, 2000). Aided by such innovative e-business models, managers will be able to identify the major decision factors involved in their business strategies and generate strategies that would improve their overall performance and profitability. In the current context, four essential perspectives are identified to be associated with an e-business strategy: financial, customer, internal processes, and learning and growth. These four perspectives were first introduced in early 1990s as the balanced scorecard concept (BSC) (Kaplan & Norton, 1992). Because the BSC methodology explicitly focuses on links among business decisions and outcomes, it is intended to guide strategy development, implementation, and provide reliable feedback for management control and performance evaluation. This BSC rationale is thereby appealing to managers who face new challenges in the current turbulent e-business climate. The real challenge is to determine how the BSC can be successfully applied in the context of e-business’s constantly changing environment of interdependencies (Hasan & Tibbits, 2000). E-business introduces new business objectives and strategies and the old measures of success may no longer apply. It is anticipated that the departure from the original BSC for a strategic e-business management framework would be more radical than the existing BSC adaptations (e.g., Martinson’s balanced IS scorecard; Martinsons, Davison, & Tse, 1999).

Visual Analysis of Merchandise Sales Trend Based on Online Transaction Log

2020 ◽  
Vol 34 (11) ◽  
pp. 2059036
Author(s):  
Shidong Yu ◽  
Dongsheng Yang ◽  
Ying Hao ◽  
Mengjia Lian ◽  
Ying Zang
Keyword(s):  
Visual Analysis ◽  
Dimensional Space ◽  
Dynamic Performance ◽  
Relevant Information ◽  
Purchase Behavior ◽  
Business Decisions ◽  
Analysis System ◽  
Changes Over Time ◽  
Production Plans ◽  
Sales Trend

Online transaction log records the relevant information of the users, commodities and transactions, as well as changes over time, which can help analysts understand commodities’ sales. The existing visualization methods mainly analyze the purchase behavior from the perspective of users, while analyzing the sales trend of commodities can better help merchants to make business decisions. Based on the transaction log, this paper puts forward the visual analysis framework of commodity sales trend and the corresponding data processing algorithm. The concepts of volatility and dynamic performance of sales trend are proposed, through which the multi-dimensional sales data of time-oriented are displayed in two-dimensional space. The “Feature Ring” is designed to display the detailed sales information of the products. Based on the above methods, a visual analysis system is designed and implemented. The usability and validity of the visualization methods are verified by using JD online transaction data. The visualization methods enable manufacturers to formulate production plans and carry out product research and develop better.

Valuation paradigm: a rationality and (un)certainty spectrum

2017 ◽  
Vol 35 (2) ◽  
pp. 228-239 ◽  
Author(s):  
David Jansen van Vuuren
Keyword(s):  
Real Estate ◽  
Design Methodology ◽  
Confidence Score ◽  
Valuation Theory ◽  
Practical Application ◽  
End User ◽  
Risk And Uncertainty ◽  
Content Type ◽  
Secondary Purpose ◽  
Practical Implications

Purpose The purpose of this paper is threefold: the primary purpose is to suggest a real estate paradigm spectrum to act as reference for the contextualisation of observed market phenomenon in system terms; the secondary purpose is for the spectrum to contextualise the efficacy of real estate and valuation theory, methods and techniques; and the tertiary purpose is to propose a confidence score for reporting uncertainty to the end user of a valuation report. Design/methodology/approach Literature was reviewed on the concepts of risk and uncertainty, rationality and several systems thinking domains. Findings The framework can provide context to observed market phenomenon and distinguishes between agency and mechanism in contributing to conditions of certainty and uncertainty. The argument followed in this paper is that it is necessary to contextualise the efficacy of real estate and valuation theory, methods and models under conditions of certainty, normal uncertainty and abnormal uncertainty. The characteristics of conditions can be used as basis to develop new theory and practical application or modify existing. Practical implications Real estate economic theory can be organised in terms of the spectrum and the framework can potentially identify where further research is required and the requirements it must meet as measured against the characteristics of the framework. Current valuation methods and models can continue to be used when valuing under conditions of certainty, however, modifications to methods and models are required to account for complexity when valuing under conditions of normal uncertainty and abnormal uncertainty. The confidence score included in this paper can also be used to report the conditions of certainty/uncertainty under which the valuation was performed. Originality/value This paper aims to set the basis for new theoretical and practical developments of insights into real estate economic and valuation theory, methods and models while also contributing to the reporting of uncertainty through the proposed confidence score.

scholarly journals Making the business case?

2015 ◽  
Vol 11 (1) ◽  
pp. 72-91 ◽  
Author(s):  
Petra Molthan-Hill
Keyword(s):  
Business Case ◽  
Economic Rationality ◽  
Instrumental Reason ◽  
Practical Application ◽  
Business Decisions ◽  
Content Type ◽  
Communicative Reason ◽  
Anglo American ◽  
Human Construction ◽  
Sustainability Challenges

Purpose – The purpose of this paper is to challenge the assumptions prominent in the Anglo-American context that the objective of a business is to increase its profits and that managers have to make “the business case” to implement environmentally sounder solutions or other sustainability considerations into their business decisions. The paper argues that these assumptions are not presented as a human construction or agreement, instead they are treated as though they are a given, a prerequisite to a business system. By comparing qualitative statements in a cross-cultural study, the paper highlights different ways in which economic rationality could be conceptualised. Design/methodology/approach – Habermas’ (1984) framework of instrumental and communicative reason has been used to analyse the accounts of German and British managers in the Food Retail and Energy Sector. Findings – Only the British managers “make the business case” when dealing with environmental problems. German managers use a different instrumental reason from that applied by British managers; they would argue that cost-intensive environmental improvements can be made as long as the survival of the company is not at risk. Practical implications – The study challenges the perceived objectiveness of the “business case”, which has strong implications for the theoretical and practical application of Business Administration in the British context and beyond. Furthermore the paper suggests that new conceptualisations of “economic rationality” might help to better solve sustainability challenges. Originality/value – Practical application of Habermas framework to question underlying assumptions in the business discourse about environmental issues.

scholarly journals Propedéutica y práctica de la investigación según los programas de Metodología en carreras de Sociología en Argentina y otros países latinos

2020 ◽  
pp. 1
Author(s):  
Gonzalo Seid ◽  
Federico Luis Abiuso
Keyword(s):  
Research Methodology ◽  
Classroom Practices ◽  
Social Research ◽  
Practical Implementation ◽  
Teaching Approaches ◽  
Practical Application ◽  
Significant Information ◽  
Is Research ◽  
Teaching Programs

In this article we discuss the teaching programs of Research Methodology subjects imparted in undergraduate Sociology degrees, mainly in Argentina (2018). Starting with questions about how research is taught, we analyzed programs as documents that develop and deliver information on formative practices and discourses. While these programs are by no means classroom practices, they provide significant information and help to increase the sample compared to observation in situ. Our results are divided into two axes: variations in teaching proposals and ways of understanding research practices. The corpus we analyzed reflects a broad consensus on the discursive level around the idea “You learn to investigate by investigating”. However, the extent and modes of the practical application of theoretical knowledge appear to depend on which topics need teaching. The most concrete techniques and operations are those that appear most related to their practical implementation. However, these techniques and operations are not always taught by framing them within a comprehensive investigative study. We highlight the importance of taking into account the conceptions about what is research and what is practice. We conclude that, since there are contradictory opinions on the teaching of social research methodology, the range of teaching approaches reflects these tensions and meets the various challenges in different ways.

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