Economics of Downtime

2009 ◽  
pp. 23-39
Author(s):  
Nijaz Bajgoric
Keyword(s):  
Business Results ◽  
Basic Facts ◽  
Financial Impacts ◽  
The Impact ◽  
Computing Infrastructure

After introducing some basic facts on how today’s businesses are faced with several types of business risks, the second chapter tends to explain one of the major problems that a contemporary business may face in regard to the impact of its computing infrastructure to business results. System downtime is briefly explained and the resulting “economics of downtime” is elaborated in order to demonstrate the direct financial impacts of the unavailability of so-called “business-critical applications” to business results.

scholarly journals Quality management and business performance of Serbian companies

2021 ◽  
Vol 69 (6-7) ◽  
pp. 345-356
Author(s):  
Vesna Milovanović ◽  
Stevo Janošević ◽  
Mihailo Paunović
Keyword(s):  
Quality Management ◽  
Business Performance ◽  
Quality Management System ◽  
Iso 9001 ◽  
Company Size ◽  
Total Quality ◽  
Industry Type ◽  
Business Results ◽  
Management Perspective ◽  
The Impact

The impact of quality management (QM) programs on business results has been the subject of numerous studies worldwide. However, given the complexity of the contemporary QM paradigm and its context-dependence, it is difficult to generalise its impact on business performance. This study examines QM from the strategic management perspective by comprehensively analysing the effects of quality management system (QMS) certification to ISO 9001 in terms of improved business performance and the achieved level of total quality management (TQM) in Serbian companies. Control variables of industry type and company size are employed to observe their possible impact on motives for, and effects of, QMS certification to ISO 9001. The results reveal that the certification of Serbian companies' QMS to ISO 9001 positively influences their operational and market performance, with the impact intensity dependent upon company size and industry type. The impact of certification on financial performance was examined but not confirmed. Compared to companies motivated primarily by marketing interests and market pressure, companies that certify their QMS to ISO 9001 to improve the quality of their business show a higher level of TQM implementation and gain greater benefits from certification.

Empirical classification of European Foundation for Quality Management (EFQM) model enabler sub-criteria using a quadrant matrix

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Narasimha Murthy ◽  
Kuldip Singh Sangwan ◽  
Nuggenahalli S. Narahari
Keyword(s):  
Quality Management ◽  
Organizational Context ◽  
Underlying Structure ◽  
Content Type ◽  
Assessment Scores ◽  
Business Results ◽  
Efqm Model ◽  
European Foundation ◽  
The Impact ◽  
First Time

PurposeThe purpose of this paper is to examine how sub-criteria of the European Foundation for Quality Management (EFQM) model is structurally connected and influence each other. This paper also tries to find the underpinning logics in the EFQM model.Design/methodology/approachThe study uses the empirical methodology based on assessment scores of 58 different organizations to gauge the underlying structure, develop the construct and establish interlinkages among the various sub-criteria in the EFQM model. Statistical analysis is used to find the impact on results and cross influencing of criteria at the sub-criteria level. The factorial analysis is carried out using the Doe technique to create factorial plots for result categories (customer results, people results, society results and business results). The approach is to unravel (1) the role played by each sub-criterion of the model, (2) the effects of sub-criteria on the results of the EFQM model and (3) the influence of sub-criteria on the managerial aspects of the model in an organizational context.FindingsThe EFQM sub-criteria are categorised as promoters, proponents, defenders or detractors based on their impact on the results and cross-influence on each other. The study unfolded seven sub-criteria positively impacting the results and one sub-criterion negatively impacting the results if not handled properly. Out of 32 sub-criteria, nine sub-criteria are influencing more than six other sub-criteria.Originality/valueThe paper investigates, for the first time: (1) the role played by each sub-criteria of the model; (2) the relationships that are produced between these sub-criteria on the EFQM results and (3) identify how such sub-criteria would influence the managerial aspects of the model in an organizational context. This research develops underlying logics in the EFQM model using Doe factorial methods for overcoming the multi-collinearity.

XBRL Taxonomy for Estimating the Effects of Greenhouse Gas Emissions on Corporate Financial Positions

2012 ◽  
pp. 145-166
Author(s):  
Fumiko Satoh
Keyword(s):  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Third Parties ◽  
Environmental Taxes ◽  
Gas Emissions ◽  
Financial Reports ◽  
The World ◽  
Standardized Reporting ◽  
Financial Impacts ◽  
The Impact

Companies around the world are increasingly expected to report their greenhouse gas emissions. Currently there are various formulas to calculate emissions, and there are different reporting formats. Most of the reporting formats are paper-based or non-readable-by-machine formats. The emissions of companies will influence their accounting results due to ‘cap & trade’ systems or environmental taxes. Analyses of financial impacts are important for management decisions and corporate evaluations by interested third parties. A standardized reporting format for GHG (greenhouse gas) emissions is critical for reliable analysis of the impact of emissions on finances. This paper proposes an XBRL (eXtensible Business Markup Language) format as the foundation for standardizing the emissions reporting formats, and provides a preliminary XBRL taxonomy for emissions reporting. XBRL makes it possible to combine the financial reports and the emissions reports. Evaluations of the emissions impact are easier for both managers of the company and external parties, even if a large number of emissions reports must be analyzed.

Medical Malpractice Litigation

2019 ◽  
Author(s):  
David A. Hyman ◽  
Charles Silver
Keyword(s):  
Medical Malpractice ◽  
Healthcare Spending ◽  
Future Research ◽  
Real Problem ◽  
Damage Costs ◽  
The Subject ◽  
Basic Facts ◽  
Civil Justice System ◽  
The Impact ◽  
Noneconomic Damages

Medical malpractice is the best studied aspect of the civil justice system. But the subject is complicated, and there are heated disputes about basic facts. For example, are premium spikes driven by factors that are internal (i.e., number of claims, payout per claim, and damage costs) or external to the system? How large (or small) is the impact of a damages cap? Do caps have a bigger impact on the number of cases that are brought or the payment in the cases that remain? Do blockbuster verdicts cause defendants to settle cases for more than they are worth? Do caps attract physicians? Do caps reduce healthcare spending—and by how much? How much does it cost to resolve the high percentage of cases in which no damages are recovered? What is the comparative impact of a cap on noneconomic damages versus a cap on total damages? Other disputes involve normative questions. Is there too much med mal litigation or not enough? Are damage caps fair? Is the real problem bad doctors or predatory lawyers—or some combination of both? This article summarizes the empirical research on the performance of the med mal system, and highlights some areas for future research.

Clinical outcomes and financial impacts of malnutrition in sepsis

2020 ◽  
Vol 26 (3) ◽  
pp. 175-178
Author(s):  
Jessica McLaughlin ◽  
Nibras Chowdhury ◽  
Svetolik Djurkovic ◽  
Omer Shahab ◽  
Mehmet Sayiner ◽  
...  
Keyword(s):  
Critically Ill ◽  
Statistical Significance ◽  
The United States ◽  
Registered Dietitian ◽  
Nutritional Screening ◽  
Financial Outcomes ◽  
Specialized Care ◽  
Hospital Stays ◽  
Financial Impacts ◽  
The Impact

Background: In the United States in 2014 approximately 1.7 million adults were hospitalized with sepsis, resulting in about 270,000 deaths. Malnutrition in hospitalized patients contributes to increased morbidity, mortality, and costs, especially in the critically ill population. Aim: Our goal was to investigate the prevalence of malnutrition in sepsis and the impact it has on clinical and financial outcomes in our most critically ill patients. Methods: We implemented nutritional screening by a registered dietitian of 1000 patients admitted with sepsis to specialized care units. We calculated the prevalence of malnutrition, and compared outcomes including mortality, length of stay, and financial costs. Results: About 10% of patients with sepsis admitted to our specialized care units were diagnosed with malnutrition on admission after implementation of mandatory assessment. Conclusions: Although mortality did not reach statistical significance, these patients had more comorbidities, longer hospital stays, and higher total costs.

Teaching cardiovascular physiology with equivalent electronic circuits in a practically oriented teaching module

2011 ◽  
Vol 35 (2) ◽  
pp. 149-160 ◽  
Author(s):  
Samo Ribarič ◽  
Marjan Kordaš
Keyword(s):  
Medical Students ◽  
Student Perceptions ◽  
Time Dependent ◽  
Cardiovascular Physiology ◽  
Electronic Circuits ◽  
Undergraduate Medical Students ◽  
Physiological Processes ◽  
Basic Concepts ◽  
Basic Facts ◽  
The Impact

Here, we report on a new tool for teaching cardiovascular physiology and pathophysiology that promotes qualitative as well as quantitative thinking about time-dependent physiological phenomena. Quantification of steady and presteady-state (transient) cardiovascular phenomena is traditionally done by differential equations, but this is time consuming and unsuitable for most undergraduate medical students. As a result, quantitative thinking about time-dependent physiological phenomena is often not extensively dealt with in an undergraduate physiological course. However, basic concepts of steady and presteady state can be explained with relative simplicity, without the introduction of differential equation, with equivalent electronic circuits (EECs). We introduced undergraduate medical students to the concept of simulating cardiovascular phenomena with EECs. EEC simulations facilitate the understanding of simple or complex time-dependent cardiovascular physiological phenomena by stressing the analogies between EECs and physiological processes. Student perceptions on using EEC to simulate, study, and understand cardiovascular phenomena were documented over a 9-yr period, and the impact of the course on the students' knowledge of selected basic facts and concepts in cardiovascular physiology was evaluated over a 3-yr period. We conclude that EECs are a valuable tool for teaching cardiovascular physiology concepts and that EECs promote active learning.

scholarly journals HUMAN RESOURCE MANAGEMENT IN TOURISM DURING COVID-19 PANDEMIC

2021 ◽  
Author(s):  
Dragana Lazić ◽  
◽  
Nedjo Danilović ◽  
Keyword(s):  
Resource Management ◽  
Human Resource Management ◽  
Human Resource ◽  
Interpersonal Relationships ◽  
Comparative Method ◽  
Human Resources Management ◽  
Labor Law ◽  
Business Results ◽  
Scientific Goal ◽  
The Impact

The subject of the paper is human resource management during the pandemic. The authors highlighted two issues: the influence of human resource management on business results in tourism and the impact of COVID-19 on labor law, psychological and interpersonal relationships in organizations dealing with tourism. The scientific goal is to confirm the hypothetical assumption that the COVID-19 pandemic limited and modified activities related to human resources management in tourism in emergency conditions. The paper uses the general scientific statistical and comparative method and method of document content analysis. The end effect of the work is two results: one, that COVID-19 affects the quality and quantity of human resource management in tourism, and the other, that the COVID-19 pandemic significantly reduces the satisfaction of basic tourism needs and requires the involvement of more institutions to preserve the satisfaction and safety of tourism employees and users of tourist services. The ultimate purpose of the paper is to harmonize the Labor Law regulations in the conditions of mass pandemics.

scholarly journals What costs should we expect from the EU’s AI Act?

2021 ◽  
Author(s):  
Meeri Haataja ◽  
Joanna J. Bryson
Keyword(s):  
Artificial Intelligence ◽  
Impact Assessment ◽  
Fundamental Rights ◽  
Regulatory Requirements ◽  
High Profile ◽  
Pragmatic Analysis ◽  
Enterprise Level ◽  
National Governments ◽  
Financial Impacts ◽  
The Impact

This short analysis aims to provide an overview of the anticipated costs caused by the EU’s proposed AI regulation, the AI Act (AIA), to impacted organisations: both providers and deployers of systems containing AI. We focus our analysis at an enterprise level, leaving the macroeconomic discussion for later. While the bulk of the paper explains and critiques the European Commission’s (EC) own analysis we also comment on the critiques raised recently by a high-profile US lobbyist, the Center for Data Innovation, in their report “How Much Will the Artificial Intelligence Act Cost Europe?” We conclude by highlighting topics that would benefit from further elaboration by the EC. As a reminder, the AIA is presently draft legislation, written by the European Commission. While something quite similar can be expected to be implemented ultimately by the European Union’s member states, the legislation is presently in a period of revision by the elected members of the European Parliament, in cooperation and consultation with EU national governments. While the heart of the EU’s regulatory proposal is in safeguarding people against AI risks to health, safety and fundamental rights, we acknowledge the importance of rooting policies in a sound analysis of financial impacts. It is only that way that requirements get translated into solid action plans and finally into actions. The process of such pragmatic analysis, can also get at assumptions and failures of coherence that might otherwise be overlooked. We also, separately, have a longer commentary on the act itself, see “Reflections on the EU’s AI Act and how we could make it even better.”Our analysis of the AIA costs is based on the two main sources: the EC’s Impact Assessment of the AIA, and the EC’s study to support an impact assessment of regulatory requirements for artificial intelligence in Europe. It is noteworthy that while the EC uses the support study as its main source for financial impact assessment, in some contexts, they specifically choose to interpret the figures differently, e.g. by excluding some categories of costs from the impact assessment. For this, it is critical to treat the EC’s impact assessment and the support study as two separate sources. This was one of a number of things apparently missed by the Center for Data Innovation in their report.

scholarly journals Solar Roof Top Generation, Marginal Cost, Financial Impacts on the Utility of Sri Lanka

2019 ◽  
Vol 12 (4) ◽  
pp. 128
Author(s):  
J. G. L. S. Jayawardena ◽  
U. Anura Kumara ◽  
M. A. K. Sriyalatha
Keyword(s):  
Sri Lanka ◽  
Thermal Power ◽  
Electricity Sector ◽  
Financial Impact ◽  
The Government ◽  
Tariff Structure ◽  
Financial Impacts ◽  
Utility Scale ◽  
The Impact ◽  
Solar Generation

The intensity of solar radiation in Sri Lanka is 1,247-2,106 kWh/m2 per annum (SEA, 2014). There are existing solar generation capacities of 177 MW by using solar roof top systems and 51 MW of the utility scale solar plants in the country as at 28th March 2019. The Government of Sri Lanka(GOSL) introduce Building Integrated Photo Voltaic program since 2009 basically to bank the surplus of electricity units with the Utility. In 2016 GOSL introduced cash payback method for surplus energy generated by Roof Top Solar installations. Some of the stakeholders of the electricity sector argue that the Roof Top Solar generation program has negative financial impact on the financial position of the utility. The impact of the Solar Roof Top program on revenue of the Utility and the customer tariff system has been studied. Results show that Feed in Tariff of the Solar Roof Top is comparatively low with most of the thermal power generation. According to the findings of the study it can be concluded that the financial impact of the program is beneficial to the economy as a whole, but marginally negative to the short terms cash flow of the utility. Anyhow it is seen that such utility centric negativity can be ameliorated though due tariff structure. The government has to consider about the electricity policy of customer tariff in order to provide the concessions only for the needy people.

More than Meets the Eye: Social, Economic, and Emotional Impacts of Work-Related Injury and Illness

2008 ◽  
Vol 18 (3) ◽  
pp. 343-360 ◽  
Author(s):  
Michael B. Lax ◽  
Rosemary Klein
Keyword(s):  
Access To Health Care ◽  
Health Condition ◽  
Injured Workers ◽  
Workers Compensation ◽  
Occupational Illness ◽  
Work Related ◽  
Work Related Injury ◽  
Retirement Funds ◽  
Financial Impacts ◽  
The Impact

The impact of an occupational illness or injury on an injured worker can be severe. This study assessed several dimensions of the impact on a group of 50 injured workers, all patients at an Occupational Health Center. The dimensions assessed included aspects of access to health care, support from treating physicians in obtaining Workers' Compensation benefits, financial impacts, the role of attorneys and “Independent Medical Examiners,” and the impact on mental health. The results showed almost two-thirds of respondents lost their health insurance after diagnosis with a work-related illness or injury, most for more than a year. Many reported that their treating physician did not want to become involved in Workers' Compensation, despite indicating a belief that the health condition was work-related. The financial impacts of a work-related diagnosis were particularly striking, with respondents reporting that they were burdened with both costs directly related to the medical care of their condition, and with coping with ongoing general expenses on a reduced income. Many respondents reported depleting savings, borrowing money, taking out retirement funds, and declaring bankruptcy in efforts to cope. Emotionally, respondents almost universally reported their diagnosis and related issues were associated with depression, anxiety, and loss of identity and self-worth. This study demonstrates how a work-related injury or illness can extend far beyond the physical impact for injured workers. Existing systems fail to adequately compensate or rehabilitate injured workers, leaving them to their own devices to deal with their losses, medical or otherwise.

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