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Correlation Clustering: Analysis of Major Agricultural Commodity Markets
288-302Views:275The aim of this article is to compare the clusters formed by the correlation distances between the agricultural and the energy commodity price returns in different periods of time. The energy and agricultural markets have become more interlinked in the past ten years, which can be attributed partly to the increased usage of biofuels. According to the results of this research, after the global financial and economic crisis of 2008/09, the relationship has become tighter between the agricultural commodity prices and the price of the crude oil. Based on the hierarchical clustering, the relationship between crude oil and sugar, and especially between crude oil and vegetable oils has become stronger. These results support the hypothesis of a more interconnected agricultural and energy market after 2013. Furthermore, the emerged relationship of crude oil with the vegetable oils may indicate the connecting role of biofuels, since biofuels require agricultural input materials, partly vegetable oils. However, the role of biofuels in the present analysis requires further researches.
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The Dynamic Effect of Trade Openness, Debt, and Foreign Investment in Ghana’s Economy: An ARDL Bound Testing Approach
94-112Views:97The impact of macroeconomic factors offers insight into the performance of an economy. This study investigates the dynamic short- and long-term effect of trade openness, external debt, and foreign direct investment (FDI) within Ghana's economy. Utilizing Autoregressive Distributed Lag (ARDL) bound testing and Granger causality analysis, the study examines data spanning from 1991 to 2022. The results of the ARDL cointegration test reveal a long-term relationship among the variables. However, in the short term, the findings present a mixed effect of FDI and trade openness, with both positive and negative impacts. In the long run, FDI and external debt exhibit a positive influence, whereas trade openness appears to impede economic growth. Furthermore, the Granger causality test identifies a unidirectional causality relationship between the variables and economic growth. The study suggests that the government implement investment-oriented and trade policies to stimulate economic growth.
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Topology Optimization of Acetabular Cup by Finite Element Simulation
22-34Views:417Hip replacements typically consist of a four-part piece. Our research will focus primarily on the acetabular component. Several different types of materials can be used when creating a hip replacement implant ranging from plastic to titanium. Different materials are used to accommodate for allergic reactions or circumventing potential health risks. Aside from the material, the size of the components plays a factor in terms of durability; a larger diameter head might avoid dislodgement though it could increase wear and tear on the stems through constant friction. A patient’s force applied to the hip replacement is usually measured through a number of physical assessments. Finite element analysis (FEA), a computer-based method of data observation, allows for us to accurately simulate hip forces and their impact on the hip replacements. Through this, it becomes easier to predict and calculate the performance of specific designs. Generative systems can also be used to support performance analysis and optimization through assessing a multitude of cases, many of which apply in real-world scenarios. By applying both systems, we designed and modeled an acetabular cup that when measured decreased the mass from 129 grams initially down to 52 grams, a 60% decrease in total mass. Furthermore, the design we created lessened the trauma on the piece through distributing force across the entirety of the piece rather than specific segments only. This shows an increased durability and life expectancy when compared to usual acetabular cups.
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Efficiency Analysis of Production Management System
401-415Views:206Due to the continuously evolving technology, even more escalating market competition has emerged between the companies. This competition is not only about the logistics related processes, it also appears to be significant for the production since the manufacturing companies form the center of global sale streams and without them the items found in logistical processes cannot be created. The role of production’s optimization and efficiency in the supply chain continuously grows since this is the part where a company’s most cost is produced. Our research objective was the examination of a company that applies various manufacturing, assembly technologies, and the used tools and softwares for this purpose were the SAP Business One ERP system and it’s add-on, called PPS One, the latter originated in Switzerland. We used these softwares to provide solutions to companies, especially to those that are dealing with manufacturing and production, for the optimization of their workflows, operations, supervising and controlling of their material. We also monitored from production technology’s elements the capacity planning, production orders, schedules, production tracking and cost accounting. We have made proposals during the analysis that might improve the company's strategy, competitiveness and increase it’s efficiency in business, and at the same time they can facilitate the company's pricing and inventory management activities.
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Latest Trends and New Tools Being Used in Strategic Management
73-85Views:689In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively in an ever-changing world. This paper reveals and describes five new trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the new trends and tools to be discussed in this paper are as follows: increased need to follow a strategic planning model; increased need to develop quality vision and mission statements; a new improved method for incorporating SWOT analysis into practice. Utilizing two matrices one internal and one external to provide a less biased way to access the current strategy fit with conditions facing the firm. Explain the use of a decision matrix commonly called the QSPM (Quantitative Strategic Planning Matrix) for assessing the relative attractiveness of various strategies being considered for implementation. The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm.
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Visual Analysis and Geometric Modeling of Metal Foams
89-92Views:101The development of an efficient procedure for 3D modelling and finite element simulation of metal foams
is one of the greatest challenges to engineer researchers nowadays. Creating 3D CAD model is alone a demanding
engineering task due to its extremely complex geometry, and the proper finite element analysis process is still in the
center of the research. The aim of this project is to analyze the related literature and to adapt the results may be
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Justification for the Olympic Reform Package Based on Good Practice
Views:236The Olympic Games have always been the pinnacle of sport and achievement. The modern Olympics are held every four years, and the venue is chosen from among the cities that apply. In my research, I wanted to find out the reasons for the decline in the popularity of the Games. To answer this question, I looked at 2 successful Olympics (2000 Sydney, 2012 London) in the hope of identifying success factors that could be adapted to other host countries. I conducted secondary research, reviewed related international and national research, and the available economic data. During the document analysis, I found that the expected costs of organising the Olympic have increased significantly over the last two to three decades, and under-planning is a common feature. As a result of the research, I have found that the most important pillars of successful organisation are a proper organising committee, comprehensive opportunity and risk analysis, accurate planning, sustainability in planning, continuous cost control, private sector support, and the work of volunteers.
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Frequency Domain Analysis of Tractor Tyre Enveloping Properties
223-229Views:77Main source of vibration excitation for off-road vehicles are ground profile undulations. Most unprepared terrains are characterized by wavelength of unevenness that is of the order of magnitude of the contact length between tire and ground, so that, due to its shape and elasticity, tire actually behaves as geometric low-pass filter transforming real road profile geometry into effective vehicle vibration excitation. Since this effective profile represents real vehicle excitation, it is of interest to study this filtering behaviour in more depth. In this work, investigation of this kind of tire response has been studied for agricultural tractor tire rolling quasistatically over singular road obstacle. Frequency analysis of road excitation and tyre response was carried out in order to obtain their spectra and frequency response function magnitude of the tyre as filter was obtained by dividing input by output spectra. Final assessment of frequency response function magnitude was obtained by averaging instances obtained for different dimensions of input obstacles.
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Practice of Organizational Development in a Domestic Company
117-126Views:974In today's changing world, it is extremely important that organizations can keep up with market trends. The perspectives of continuous development are expanding and the commitment of decision-makers to development activities is growing steadily. The starting point for organizational development is always man. Organizational development always begins with deeper research and modeling. Fundamental guidelines are set out as a paradigm of development. The most important and at the same time the most difficult step is to introduce the results of the analysis. The most effective, but the most time-consuming and cost-effective solution is full organizational development. The management of the organization faces significant efforts to embark on a full organizational development process. The aim of our study is to propose different development opportunities for the company's management with the help of analysis by the organization and supported by measurable data, as well as the catalyst for the modifying efforts observed among employees.
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A Wounded Soldier Fighting on two Fronts: Civil Society Organizations Initiatives Struggling to Overcome the Pandemic Crisis by Practical Protective Means, Volunteerism, Reporting and Awareness Campaign Discourse
136-151Views:149Given the fact that the covid-19 pandemic virus has had a pervasive impact on almost every sphere of life globally, it is noteworthy to highlight the role and position of the civil society sector, and this paper intends to do so by striking at two matters. Initially, outlining the impact on the functioning and activities of Civil Society Organizations (CSOs), to then proceed with their response to the crisis, through new multifarious initiatives/activities. The analysis was developed by using, essentially, unobtrusive data and direct non-participatory observations of Non-Governmental Organizations (NGOs) in Kosovo that have had initiatives against covid-19. Although CSOs were badly affected by the pandemic as such, and the consequences it brought, whether, through measures and/or neglect from the central level, they still found the resources and willingness to launch initiatives to combat the pandemic in the form or different. All over the country, appeared organizations which among their activities found a place for awareness campaigns, material and financial assistance to citizens in need, production of masks, face shields, and other protective equipment for citizens or health institutions, and providing voluntary assistance as health staff. To link practice with theory, there are presented cases of NGOs that well reflect scholarship ideas such as the need to have a classification of CSOs based on activities, the importance of their IT repertoires, coproduction, and especially the response to the crisis. The importance of this study grounds on the benefit it brings to understanding the role and contribution of CSOs in exceptional times of crisis, especially for a society that underestimates and neglects this sector.
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„Forradalmi” változások a menedzsment területén
1-15Views:144Development of the Science and practical application of the results created big changes in the nontradicional areas too. The „Health industry” was developed. The results of the physics, chemistry, biology and mikroelektronics etc. helped to develop some new methods of diagnosis, operation etc. The „money industry” was developed too. Our opinion is, that the most important cause of the economic crisis is a non regulated well of the „money industry”. The „knowledge industry” was developed too. The „knowledge industry” contains all level of teaching and Research + Development + Innovation. Our analyze shows that the Innovation is the most important factor of the economic Development of Society. The new scientific results created big changes in area of the Management. The „Management Science” was developed as an independent area. Some management specialists developed some management methods (eg. Value Analysis, Risk Management, TRIZ, Lean methods etc.) for efficient allocation of sources.
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Material Stock and Flow Analysis within the Agricultural Building Sector Based on Local Database
297-320Views:123The purpose of the paper is to analyze on micro level the stream of building materials needed for raising cattle. The scope of the produced material flow chart will cover the inflow and storage of the materials. The overall objective of material flow analysis is to contribute to the data inventory development process which is needed to use these construction materials as secondary raw materials in the future. The assessment is based on a concrete new development in a Hungarian region being carried out nowadays as a development and modernization of an existing cattle raising farm. Driven by the concern of resource depletion, further research on higher level, based on larger database will be needed to verify the estimated national level results for the magnitude of growth of anthropogenic stocks.
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Implementation of Lean management Practices in Azerbaijan (on the Example of a Private Company)
30-40Views:88Organizations are facing crucial modifications as global market and conditions change day after day. To keep up with fast changing realities, it’s important to apply innovation decisions to the current stage of organizations. Lean management consolidates tools and techniques to revert from traditional way of operating to the new human oriented one. In the carried-out research its outlined, human resources management plays a big role in spreading and supporting lean initiatives. It was suggested that, Lean and Human resources management are compatible and should work together to obtain sustainable success by implementation of an innovation approach such as Lean. Both lean management and human resource management focus on the same goals with different methods in terms of control of businesses. All positivist approaches and practices are included in these approaches and practices, which are developed with a focus on the interests of the community, in order for the process to be concluded positively. The employee-centred management approach of human resources management is crucial to lead and maintain good environment in the teams. For this reason, in the lean management philosophy, it is aware that the corporate structure has responsibilities in terms of training the employees, eliminating their problems and supporting them in struggling with the responsibilities they undertake. This paper is quantitative, online survey has been conducted with employees of a private company in Azerbaijan and results were analysed in statistical analysis software SPSS and relevant suggestions and recommendation were given for reorganization to enable lean friendly environment on a sample of the given company.
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Analysis of Henbuk Startup Value Using a Scorecard Assessment Method
1-12Views:135This study aims to determine the valuation value of Henbuk's startup by conducting qualitative and quantitative analyses. Henbuk is a startup engaged in e-commerce. The Henbuk startup is currently in the initial funding stage, and the founders are opening opportunities for investors, which can later support operational and development activities. In obtaining funding from investors, the Henbuk startup requires an initial assessment of the company's value. The score assessment consists of several indicators, e.g., quality of the founder and team, opportunity size, product and technology, competition, marketing, sales and partnerships, and the need for additional investment. The results of the value assessment are obtained by using the Scorecard Assessment Method. The results of this study may help to determine the real value of other start-ups for the investors in the future.
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Project Risks and Risky Projects
164-189Views:308Projects are key drivers of organizational change, both their failure and success can have significant impact on the organizational performance. Risks may arise throughout the entire project life cycle. Managing these and initial project planning uncertainties is an important task of Project Management. The study describes the application of traditional project management tools and methods in risk analysis, -evaluation and -treatment based on modern project and risk management standards and recommendations. The authors also examine the link between classic project management objectives (project time - resources – scopes) and risk-based decision-making. The different scale and scope of projects call for different responses to the associated risks. The study highlights the possible role of the ISO 31000 risk management standard package in project risk management. The authors analyse the risk management of the different projects on the basis of processing relevant literature, including the relationship of the project stakeholders to the risks. R&D, agile projects and project portfolios have specific and complex risk exposures, but their project management can provide several „hidden” risk analysis and - treatment functions.
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Topology Optimization of Automotive sheet metal part using Altair Inspire
143-150Views:783In an optimization problem, different candidate solutions are compared with each other, and then the best or optimal solution is obtained which means that solution quality is fundamental. Topology optimization is used at the concept stage of design. It deals with the optimal distribution of material within the structure. Altair Inspire software is the industry's most powerful and easy-to-use Generative Design/Topology Optimization and rapid simulation solution for design engineers. In this paper Topology optimization is applied using Altair inspire to optimize the Sheet metal Angle bracket. Different results are conducted the better and final results are fulfilling the goal of the paper which is minimizing the mass of the sheet metal part by 65.9% part and Maximizing the stiffness with Better Results of Von- Miss Stress Analysis, Displacement, and comparison with different load cases. This can lead to reduced costs, development time, material consumption, and product less weight.
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Cultural diversity, Intercultural Competence, Tolerance and the Economy: a Review
98-109Views:175Cultural diversity is generally a controversial topic in the literature. Whereas some studies proved that it has economic benefits, others denied that. However, it is possible to avoid the costs related to that through enhancing each of intercultural competence, on the level of firms, and social tolerance, on the level of economies. To investigate that, the study used literature review analysis. Based on the literature, cultural diversity plays important role in enhancing innovation and entrepreneurship which are necessary for economic development. However, it may result in different challenges such as a lack of trust and conflict. Therefore, it could be feasible to manage and benefit from cultural diversity in the companies through cross-cultural training as well as cultural diversity management. On the other hand, economies can avoid cultural diversity's costs by adopting the policies and institutions which are necessary for enhancing the level of social tolerance among people.
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The Correlation between LGBTQ Tolerance and Economic Development in Europe
31-51Views:312This study analyses the relationship between LGBTQ tolerance and economic development. It uses various indices measuring tolerance and economic data of 48 European countries. Based on previous literature I outlined how economic progress is supposed to have an impact on the social inclusion of marginalised groups. Also, a number of empirical reports are cited providing substantial evidence that tolerance can too shape economic performance. The main aim of this paper is to confirm that these findings in fact hold water in Europe. Having examined the regression analysis of GDP per capita and tolerance, as well as HDI and tolerance, I found that the modernisation theory proved valid on my sample. The other component of my analysis focusing on the sway of social inclusion over FDI showed that more tolerant states attract more foreign capital. These results led me to believe that economic progress and LGBTQ inclusion are interrelated, thus the latter should be considered upon forming policy.
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The Empirical Examination of Different Customer Types
92-100Views:130The proper knowledge of customer types is essential for a well functioning company – regardless of its size. In current research we wanted to identify and characterize the particular customer groups with involving 302 persons. During the examination we measured the attitudes of these participants with the help of a statement range based on Kotler’s classical customer types. For the identification we made factor- and cluster analysis, and we could separate five different factors. They received the names of Angry, Definite, Discursive Passive, Experience Shopping and Indefinite - based on some related statements. After the cluster analysis – along these factors - we could separate four different groups: Young Impulse Shoppers, Outspoken Definites, Negatives and Born Customers. Each and every group requires different communication, sales attitude and service morals.
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Comparative Analysis of the Notes to the Financial Statement of Companies Engaged in Sports Activities in Hungary, Based on the Information of the General Part
117-125Views:200Contribution of the sports sector to GDP in the EU Member States is close to 5%, while in Hungary it is approximately 1-1.5%. This ratio is likely to increase, for which various subsidies of corporate tax provide a good basis. The information mentioned above confirms that the economic analysis of companies engaged in sports activities is an interesting and necessary field of research. In our research, we examine whether the notes on the accounts of companies include the information, which could help obtain necessary financial knowledge concerning the partner companies. For the analyses, we used the notes on the accounts of companies, which have sports activity (Hungarian NACE No. 931) as their main line of business. By means of text mining, we analyse the extent to which the notes on the accounts are in conformity with the Accounting Act. The sports activity companies are analysed using various packages of the R statistical system. By means of text mining, we analyse the extent to which the notes on the accounts provide the necessary information that would be indispensable for the proper interpretation of the balance sheet and the profit and loss account.
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Analysis of Differences Between Levelling Networks in the County of Hajdú-Bihar
84-92Views:45The height determination of control and detail points is essential during the process of planning and manufacturing in the practice of civil engineering. Planning maps are drawn for the former, while the intended plan is set out on the ground during manufacturing, and after the manufacturing the completed installation is mapped. Using the same reference system in all three steps, both horizontally and vertically, is recommended even though in some cases it is unavoidable to change from one reference level to another. Regardless of the fact that both refer to the mean sea level of the Baltic Sea, this can create difficulties, since the difference between the EOMA and Bendefy networks used in Hungary shows varying values depending on the geographical location. The aim of the analysis is to determine a constant difference regarding the analysed settlements based on the common points of the networks.
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Sport Consumption, Fan Engagement, Sport Statistics – Post-specific Passing Characteristics in Football
Views:626Digitalization and the explosive development of technology have led to significant changes in football. Due to the increasing amount of data available through various sensors and other data collections, we can observe the rise of data-centric, analytical and statistically oriented thinking in football, which is also of interest to fans. Digitalisation is also closely linked to sports consumption, which is why we have seen significant changes in this area in recent years. The pandemic has further amplified the speed of digital transformation in the sports industry. One of the most important contents for sports organizations and their fans is the in-depth sports statistics and analysis that enhances the consumer experience. In our study, we examined the most common performance indicator in football, passing. Our goal was to examine the position-specific pass characteristics in detail, therefore we also examined different pass properties in our research. As a model for our analysis, I chose the premier league, which has the highest UEFA coefficient. The three rounds (rounds 30-32) of the championship season 2019/2020 have been recorded and analyzed in terms of passes. there was a significant difference between the average number of passes per game between defensive and offensive players (t=7,988, p<0.05). There is also a gradual decrease in the number of passes attempted per match and the accuracy of the pass in the examination of the middle positions when examining the positions in the depth of the pitch. For both pass accuracy and average pass count, the decreasing ranking corresponds to the position of positions on the pitch (order: 1, central defender 2, defensive midfielder 3, inside midfielder 4, attacking midfielder 5, striker). In the value indicator of the position for passes, offensive positions performed more effectively than defensive positions. The extreme positions also stand out among the attacking positions, where in the case of the position value per pass number, 23.3% of the total test was completed and 14% of the amount of the established position value indicators was provided by these posts. Overall, our study points to post-specific pass characteristics and, knowing this, we can state that the comparison of players' passing performance is relevant if the players are in the same or related positions.
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Introducing a Task Management Tool into the Operation of a Management Consulting Firm
122-135Views:293Lean and agile methods are now widely used in various fields. Seeing their success, management consultancy firms also want to take advantage of using them. In this case study, the company selects the appropriate task management tool for their operation, the kanban board, and implements it. The implementation process is supported by quantitative analysis. In order to track the introduction progress of the kanban board, a key performance index is defined: the board activity, which is the number of operations performed on the board in a given time period. Based on the evaluation of over 26 weeks’ data, board activity proved to be an appropriate indicator of the kanban board’s reception, operation, and stability. The individual indicators examined, however, were not found to be suitable for performance appraisal.
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Analysis of face milling technology with a thermal camera by the changing of the number of revolution
142-147Views:111The aim of the publication is the analysis of the temperature zone of cutting operation in case of face milling technology. The analyses are done considering of the changing of discreet number of revolution beside the constancy of the more technological parameters. The measuring concept will be determined. After the experiments the received thermal images will be analysed.
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Food Industry 4.0 Readiness in Hungary
1-12Views:277In terms of production value, the food industry is the third-largest in Hungary, the first in Hungary in terms of the number of employees, and the first in Europe in the processing industry, as well as a significant user of resources. The research examined the state of art of digitalization readiness, focusing on I4.0 technologies, which supports the management to operate more efficiently the enterprise and to make better decisions. So the focus was on integrated enterprise information systems, management support systems, business intelligence systems, industry 4.0 technologies, and issues related to their application. The analysis based on an online questionnaire survey the request sent to 4.600 enterprises, the response rate was 5% which was representative of the branches of production, covered the Hungarian food and beverage manufacturing sectors in 2019. The companies were asked the most critical technologies in development, going towards Industry 4.0. The research tools were LimeSurvey, Mailing List Server, Excel, Power BI (Desktop, Publishing Server to distribute the results). The used analysing methods were making calculations, pivot tables, models, dasboards. We found that a significant portion of businesses, 78 %, use mobile devices in the manufacturing process. The three most relevant digital technologies are geolocating (GPS, GNSS), cloud computing, and sensor technology. The current level of digitalization and integration cannot be said to be high, but respondents are very optimistic about expectations. Improvements are expected in all areas in the next 2-3 years in terms of digitalisation and integration. Vertical integration involves, first and foremost, cooperation with partners in the supply chain. Horizontal integration means close, real-time connectivity and collaboration within the company. Unfortunately, between 6% and 15% of SMEs (approximately 9% on average) and large enterprises, 36% have a digital strategy. According to the survey, the sector needs significant improvement and creating a digitalization strategy.
