Determining Factors for Achieving Success in Entrepreneurship

This paper represents the quintessence of our own research on the critical success factors identified by analysing the lives and deeds of 10 world leaders from an entrepreneurial perspective. In the research we looked for the answers to a series of questions such as: What defines these action people, who have calculated and taken risks to achieve the proposed objectives? What motivated these personalities to conquer minds, hearts, and territories? Where did they get the courage, they needed to act according to their dream? What were their strengths? What defines and differentiates a successful manager? Where is the boundary between the managerial style beneficial to the organization and the sinusoidal approach of the managerial path? The paper was made by substantiating these answers and developing a list of determining factors in achieving the success of an entrepreneur. The results obtained constitute a decalogue for entrepreneurs to achieve added value for the businesses they implement.

Reliability analysis and hypothesis testing of critical success factors of total productive maintenance

PurposeThis paper deals with concept of total productive maintenance (TPM) and its implementation approach. It also presents the identification of critical factors for effective implementation of TPM. The reliability analysis identified potential areas where more concentration is required. The application of hypothesis testing in productivity maintenance should be promoted by parametric test and significantly instrumental in explanation of phenomena. It is also indispensable to better understand quality data and provide guidance to production control.Design/methodology/approachThe various critical success factors of TPM implementation has organised into set of eight performance measure and thirty three sub-factors for getting the in-depth details of each indicator. The paper identifies the reliability of these factors and understands the problem with greater clarity and its ramification. Researcher collected responses from forty one manufacturing organisations through structured designed questionnaire. The reliability analysis was carriedout by calculating the value of Cronbach's alpha method. To draw the meaningful conclusions supported by relevant empirical data, provisional formulation is required, and it was carried by hypothesis testing. In this test, samples are taken from a population with known distribution (normal distribution), and a test of population parameters is executed. It determines the relevancy of facts directs the researcher's efforts into productive channels. The statements were hypothetically tested by calculating the arithmetic value of Chi-Square (χ2) and MINITAB-19 software was used for identification of p-value.FindingsThis study identified that main factors and sub-factors of TPM which are critical for implementation of TPM. The study also avoids the complexities involved in implementing TPM by reliability analysis. It is found that all identified CSFs are reliable as Cronbach's alpha is above 0.6. The hypothesis testing shows that all alternative hypothesis statements are acceptable as Chi-Square (χ2) value has satisfied the conditions and null hypothesis are true as calculated p-value is less than the 0.05 for eight identified TPM critical factor.Originality/valueIn this paper researcher provides a comprehensive typology of TPM-CSFs, and its ranking and importance in manufacturing sector. The preparedness of such study related to TPM implementation is becoming a major sourcing base for the world and there is a paucity of such studies. Such studies are equally important in a global context.

CRITICAL SUCCESS FACTORS FOR BUILDING INFORMATION MODELLING (BIM) IMPLEMENTATION FOR POWER PLANT PROJECTS IN MALAYSIA

Building Information Modelling (BIM) has become increasingly important for the construction industry in Malaysia. BIM implementation process requires proper strategic planning and considerations from many aspects.Malaysian government has realised the importance of BIM as an emerging technology to transform the construction industry in Malaysia,and thus has classified BIM as one of the twelve main technology in CIDB “Construction 4.0 Strategic Plan 2021-2025”. BIM implementation offer significant benefits to the power generation sector in Malaysia Thisstudy was conducted using the quantitaive research method in which questionnaires survey were distributed to the clients‘ representatives in the Malaysian power sector. This study has identified the 13 critical success factors to be considered by clients for BIM implementation in power plant projects in Malaysia. The success factors were classified based on the four (4) main fields or factors namely management, people, process and technology. The study findings show that management support is the most important success factor for the power plant projects while other success factors such as people, process and technology were also identified and discussed. ABSTRAK: Model Pembangunan Maklumat (BIM) merupakan sebuah konsep penting bagi industri pembinaan di Malaysia. Proses pelaksanaan BIM memerlukan perancangan strategik dan pertimbangan wajar dari pelbagai aspek. Kerajaan Malaysia sedar akan kepentingan BIM sebagai teknologi pemangkin dalam transformasi industri pembinaan Malaysia di mana BIM telah disenaraikan sebagai salah satu daripada 12 teknologi utama dalam CIDB “Plan Strategik 4.0 Pembangunan 2021-2025”. Pelaksanaan BIM memberi faedah ketara kepada sektor jana kuasa di Malaysia. Kajian ini dibuat menggunakan kaedah kuantitatif melalui kaji selidik ke atas wakil klien dalam sektor tenaga Malaysia. Kajian ini telah mengenal pasti 13 faktor kejayaan kritikal yang perlu dipertimbangkan oleh klien bagi menghasilkan projek loji jana kuasa di Malaysia. Faktor kejayan ini telah diklasifikasi berdasarkan 4 bidang utama seperti pengurusan, pekerja, proses dan teknologi. Dapatan kajian menunjukkan bahawa sokongan daripada pihak pengurusan merupakan faktor utama bagi kejayaan sesebuah projek jana kuasa, di samping faktor-faktor lain seperti pekerja, proses dan teknologi juga telah dikenal pasti dan dibincangkan.

The Adoption of a CRM Strategy Based on the Six-Dimensional Model

If the definition of CRM is not consensual, the model for incorporating or analyzing the concept within an organization is also not. In this chapter, considering the ‘Six-Dimensional Model CRM Strategy', which integrates 65 critical success factors, the authors analyze how these manifest themselves in an organization. Thus, the case studied is presented and described following the six dimensions (CRM strategy formulation, relational marketing philosophy, best practices, organizational and human resources, CRM processes, CRM technology) and also synthesizes in a table how the company analyzed reacted to critical success factors.

Smart Metering Systems

Blockchain technology is one of the most vital and exciting technologies available today. It can transform the business world and the organizations' functions. It offers several possibilities to flourish existing businesses, grow entirely new ones, and severely disrupt traditional organizations. This chapter aims to study the applications of blockchain in procurement, to improve at the same time effectiveness and sustainability, and to define its critical success factors. The chapter presents a model and then describes its application in a real business case. It highlights the critical challenges in this blockchain implementation and the potentials of blockchain in managing sustainable procurement in support of utilities. This blockchain application is for smart metering. The blockchain solution contributes to the three bottom lines: economic, social, and sustainable. It can help support sustainable procurement, reduce errors, improve organizational functions and procedures, and prevent fraud. The chapter includes some challenges and their possible remediations.